OFG Bancorp (OFG) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-12647
Entity Registrant Name	OFG Bancorp
Entity Incorporation, State or Country Code	PR
Entity Tax Identification Number	66-0538893
Entity Address, Address Line One	254 Muñoz Rivera Avenue
Entity Address, City or Town	San Juan
Entity Address, Country	PR
Entity Address, Postal Zip Code	00918
City Area Code	787
Local Phone Number	771-6800
Title of 12(b) Security	Common shares, par value $1.00 per share
Trading Symbol	OFG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,897,963
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001030469
Current Fiscal Year End Date	--12-31

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash and cash equivalents:
Cash and due from banks	$ 674,702	$ 743,550
Money market investments	5,885	4,623
Total cash and cash equivalents	680,587	748,173
Investments:
Trading securities, at fair value, with amortized cost of $163 (December 31, 2023 - $163)	18	13
Investment securities available-for-sale, at fair value, with amortized cost of $2,267,582 (December 31, 2023 - $2,177,761); no allowance for credit losses	2,230,102	2,099,264
Investment securities held-to-maturity, at amortized cost, with fair value of $284,249 (December 31, 2023 - $490,764); no allowance for credit losses	332,713	549,024
Equity securities	45,692	38,469
Total investments	2,608,525	2,686,770
Loans:
Loans held-for-sale, at lower of cost or fair value	15,624	28,345
Loans held-for-investment, net of allowance for credit losses of $161,500 (December 31, 2023 - $161,106)	7,589,076	7,373,273
Total loans	7,604,700	7,401,618
Other assets:
Foreclosed real estate	4,419	10,780
Accrued interest receivable	70,367	71,400
Deferred tax assets, net	4,130	4,923
Premises and equipment, net	105,279	104,102
Customers' liability on acceptances	26,055	25,576
Servicing assets	68,512	49,520
Goodwill	84,241	84,241
Other intangible assets	16,260	20,694
Operating lease right-of-use assets	20,355	21,725
Other assets	167,952	114,931
Total assets	11,461,382	11,344,453
Deposits:
Demand deposits	5,859,787	6,050,428
Savings accounts	2,019,832	2,088,102
Time deposits	1,729,033	1,623,639
Total deposits	9,608,652	9,762,169
Borrowings:
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	270,827	200,768
Other borrowings	0	2
Total borrowings	270,827	200,770
Other liabilities:
Acceptances executed and outstanding	26,055	25,576
Operating lease liabilities	22,604	24,029
Deferred tax liabilities, net	57,503	22,444
Accrued expenses and other liabilities	157,609	115,985
Total liabilities	10,143,250	10,150,973
Commitments and contingencies (See Note 18)
Stockholders’ equity:
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 46,558,932 shares outstanding (December 31, 2023 - 59,885,234 shares issued; 47,065,156 shares outstanding)	59,885	59,885
Additional paid-in capital	639,487	638,667
Legal surplus	164,990	150,967
Retained earnings	737,815	639,324
Treasury stock, at cost, 13,326,302 shares (December 31, 2023 - 12,820,078 shares)	(251,055)	(228,350)
Accumulated other comprehensive loss, net of tax of $4,490 (December 31, 2023 - $11,484)	(32,990)	(67,013)
Total stockholders’ equity	1,318,132	1,193,480
Total liabilities and stockholders’ equity	$ 11,461,382	$ 11,344,453

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Trading securities, amortized cost	$ 163	$ 163
Investment securities available-for-sale, amortized cost	2,267,582	2,177,761
Investment securities available-for-sale, allowance for credit loss	0	0
Investment securities held-to-maturity, fair value	284,249	490,764
Investment securities held-to-maturity, allowance for credit loss	0	0
Allowance for credit losses	161,500	161,106
Loans held for investment, allowance for credit losses	$ 161,500	$ 161,106
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	59,885,234	59,885,234
Common stock, outstanding (in shares)	46,558,932	47,065,156
Treasury stock, at cost (in shares)	13,326,302	12,820,078
Accumulated other comprehensive income, tax (benefit) expense	$ 4,490	$ 11,484

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest income:
Loans	$ 154,410	$ 142,139	$ 458,261	$ 405,968
Mortgage-backed securities	23,935	12,556	64,622	33,223
Investment securities and other	10,685	11,013	37,231	33,490
Total interest income	189,030	165,708	560,114	472,681
Interest expense:
Deposits	38,344	20,819	112,948	49,232
Securities sold under agreements to repurchase	0	728	0	728
Advances from FHLB and other borrowings	2,811	2,374	7,864	5,393
Total interest expense	41,155	23,921	120,812	55,353
Net interest income	147,875	141,787	439,302	417,328
Provision for credit losses	21,359	16,430	52,061	40,919
Net interest income after provision for credit losses	126,516	125,357	387,241	376,409
Non-interest income:
Banking service revenue	15,554	17,303	51,594	52,256
Wealth management revenue	8,449	7,691	24,996	23,005
Mortgage banking activities	2,268	5,410	11,825	14,533
Total banking and financial service revenues	26,271	30,404	88,415	89,794
Net loss on sale of securities	0	0	(7)	(1,149)
Other non-interest income	597	295	1,284	1,028
Total non-interest income	26,868	30,699	89,692	89,673
Non-interest expense:
Compensation and employee benefits	38,468	38,095	116,751	114,409
Occupancy, equipment and infrastructure costs	15,124	14,887	43,839	43,506
Electronic banking charges	9,237	10,662	31,289	31,260
Information technology expenses	6,899	7,106	20,067	20,712
Professional and service fees	4,976	4,810	14,097	15,193
Taxes, other than payroll and income taxes	3,742	3,407	10,209	9,944
Insurance	2,821	2,433	8,615	8,039
Loan servicing and clearing expenses	1,806	1,715	5,805	5,848
Advertising, business promotion, and strategic initiatives	2,469	2,206	7,293	6,304
Communication	1,068	1,040	3,368	3,229
Printing, postage, stationery and supplies	1,046	922	2,944	2,518
Foreclosed real estate and other repossessed assets expenses, net of (income)	1,272	(27)	1,209	(1,554)
Other	2,672	2,902	10,486	9,858
Total non-interest expense	91,600	90,158	275,972	269,266
Income before income taxes	61,784	65,898	200,961	196,816
Income tax expense	14,784	21,025	53,138	61,541
Net income available to common shareholders	$ 47,000	$ 44,873	$ 147,823	$ 135,275
Earnings per common share:
Basic (in dollars per share)	$ 1.01	$ 0.95	$ 3.15	$ 2.86
Diluted (in dollars per share)	$ 1	$ 0.95	$ 3.14	$ 2.84
Average common shares outstanding and equivalents (in shares)	46,846	47,392	47,111	47,605
Cash dividends per share of common stock (in dollars per share)	$ 0.25	$ 0.22	$ 0.75	$ 0.66

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 47,000	$ 44,873	$ 147,823	$ 135,275
Other comprehensive income (loss) before tax:
Unrealized gain (loss) on securities available-for-sale	64,330	(45,176)	41,010	(41,593)
Realized loss on sale of securities available-for-sale	0	0	7	1,149
Unrealized loss on cash flow hedges	0	(120)	0	(406)
Other comprehensive income (loss) before taxes	64,330	(45,296)	41,017	(40,850)
Income tax effect	(10,826)	7,183	(6,994)	6,582
Other comprehensive income (loss) after taxes	53,504	(38,113)	34,023	(34,268)
Comprehensive income	$ 100,504	$ 6,760	$ 181,846	$ 101,007

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands		Total	Common stock	Additional paid-in capital	Legal surplus	Retained earnings	Treasury stock	Accumulated other comprehensive (loss) income, net of tax
Balance at beginning of period at Dec. 31, 2022			$ 59,885	$ 636,793	$ 133,901	$ 516,371	$ (211,135)	$ (93,409)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				3,723
Lapsed restricted stock units				(3,127)			1,414
Transfer from retained earnings					12,873
Net income		$ 135,275				135,275
Cash dividends declared on common stock	[1]					(31,307)
Transfer to legal surplus		12,900				(12,873)
Stocks repurchased		(18,653)					(18,653)
Lapsed restricted stock units and options				(3,127)			1,414
Other comprehensive gain (loss), net of tax		(34,268)						(34,268)
Balance at end of period at Sep. 30, 2023		1,095,463		637,389	146,774	607,466	(228,374)	(127,677)
Balance at beginning of period at Jun. 30, 2023			59,885	636,051	142,567	577,042	(226,230)	(89,564)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				1,354
Lapsed restricted stock units				(16)			42
Transfer from retained earnings					4,207
Net income		44,873				44,873
Cash dividends declared on common stock	[1]					(10,242)
Transfer to legal surplus		4,200				(4,207)
Stocks repurchased		(2,186)					(2,186)
Lapsed restricted stock units and options				(16)			42
Other comprehensive gain (loss), net of tax		(38,113)						(38,113)
Balance at end of period at Sep. 30, 2023		1,095,463		637,389	146,774	607,466	(228,374)	(127,677)
Balance at beginning of period at Dec. 31, 2023		1,193,480	59,885	638,667	150,967	639,324	(228,350)	(67,013)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				4,722
Lapsed restricted stock units				(3,902)			1,681
Transfer from retained earnings					14,023
Net income		147,823				147,823
Cash dividends declared on common stock	[1]					(35,309)
Transfer to legal surplus		14,000				(14,023)
Stocks repurchased		(24,386)					(24,386)
Lapsed restricted stock units and options				(3,902)			1,681
Other comprehensive gain (loss), net of tax		34,023						34,023
Balance at end of period at Sep. 30, 2024		1,318,132		639,487	164,990	737,815	(251,055)	(32,990)
Balance at beginning of period at Jun. 30, 2024			$ 59,885	637,895	160,560	706,807	(250,951)	(86,494)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				1,592
Lapsed restricted stock units				0			0
Transfer from retained earnings					4,430
Net income		47,000				47,000
Cash dividends declared on common stock	[1]					(11,562)
Transfer to legal surplus		4,400				(4,430)
Stocks repurchased		(104)					(104)
Lapsed restricted stock units and options				0			0
Other comprehensive gain (loss), net of tax		53,504						53,504
Balance at end of period at Sep. 30, 2024		$ 1,318,132		$ 639,487	$ 164,990	$ 737,815	$ (251,055)	$ (32,990)
[1]Dividends declared per common share during the quarter ended September 30, 2024 - $0.25 (September 30, 2023 - $0.22). Dividends declared per common share during the nine-month period ended September 30, 2024 - $0.75 (September 30, 2023 - $0.66).

UNAUDITED CONSOLIDATED STATEM_6

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.25	$ 0.25	$ 0.22	$ 0.75	$ 0.66	$ 0.22

UNAUDITED CONSOLIDATED STATEM_7

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 147,823	$ 135,275
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred loan origination fees, net of costs, and fair value premiums on loans	2,348	1,182
Amortization of investment securities discounts, net of accretion of premiums	(6,593)	(3,185)
Amortization of other intangible assets	4,434	5,174
Net change in operating leases	(55)	251
Depreciation and amortization of premises and equipment	16,028	15,290
Deferred income tax expense, net	28,858	50,947
Provision for credit losses	52,061	40,919
Stock-based compensation	4,722	3,723
(Gain) loss on:
Sale of securities	7	1,149
Sale of loans	(1,293)	(327)
Foreclosed real estate and other repossessed assets	(1,243)	(5,820)
Sale of other assets	(1)	17
Originations and purchases of loans held-for-sale	(88,089)	(67,235)
Proceeds from sale of loans held-for-sale	79,283	8,012
Net decrease (increase) in:
Accrued interest receivable	1,015	(5,474)
Servicing assets	2,434	320
Other assets	(50,014)	287
Net (decrease) increase in:
Accrued interest on deposits and borrowings	(908)	1,373
Accrued expenses and other liabilities	23,405	6,255
Net cash provided by operating activities	214,222	188,133
Purchases of:
Investment securities available-for-sale	(1,070,454)	(492,155)
Mortgage servicing rights	(17,162)	0
FHLB stock	(52,766)	(15,081)
Equity securities	(3,281)	(5,136)
Maturities and redemptions of:
Investment securities available-for-sale	893,202	219,907
Investment securities held-to-maturity	216,616	16,843
FHLB stock	48,824	2,098
Proceeds from sales of:
Investment securities available-for-sale	149,406	202,133
Foreclosed real estate and other repossessed assets, including write-offs	39,860	45,409
Premises and equipment	1	38
Origination and purchase of loans, excluding loans held-for-sale	(2,226,978)	(2,652,868)
Principal repayment of loans	1,910,835	2,141,933
Additions to premises and equipment	(17,280)	(11,609)
Net cash used in investing activities	(129,177)	(548,488)
Net (decrease) increase in:
Deposits	(161,998)	(30,281)
Securities sold under agreements to repurchase	0	150,632
FHLB advances and other borrowings	69,998	273,068
Exercise of stock options and restricted units lapsed, net	(2,221)	(1,713)
Purchase of treasury stock	(24,386)	(18,653)
Dividends paid on common stock	(34,024)	(30,463)
Net cash (used in) provided by financing activities	(152,631)	342,590
Net change in cash and cash equivalents	(67,586)	(17,765)
Cash and cash equivalents at beginning of period	748,173	550,464
Cash and cash equivalents at end of period	680,587	532,699
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:
Cash and due from banks	674,702	528,626
Money market investments	5,885	4,073
Total cash and cash equivalents at end of period	680,587	532,699
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:
Interest paid	118,324	50,017
Income taxes paid	33,803	3,438
Operating lease liabilities paid	7,293	7,487
Mortgage loans held-for-sale securitized into mortgage-backed securities	55,694	69,694
Transfer from loans to foreclosed real estate and other repossessed assets	36,466	38,233
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio	34,684	6,471
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio	1,483	8,596
Financed sales of foreclosed real estate	1,273	488
Delinquent loans booked under the GNMA buy-back option	41,800	18,227
Conversion of debt security to equity security	$ 0	$ 376

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations OFG is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. OFG operates through various subsidiaries, including a commercial bank, Oriental Bank (the “Bank”), a securities broker-dealer and investment adviser, Oriental Financial Services LLC (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), a captive reinsurance company, OFG Reinsurance Ltd (“OFG Reinsurance”), and OFG Ventures LLC (“OFG Ventures”), which holds equity investments. Through these subsidiaries and their respective divisions, OFG provides a wide range of banking and financial services such as commercial, consumer, auto, and mortgage lending, financial planning, insurance sales, investment advisory, and securities brokerage services, as well as corporate and individual trust services. The Bank has a wholly-owned operating subsidiary, OFG USA LLC (“OFG USA”), which is a commercial lender organized in Delaware. In addition, Oriental International Bank Inc. (“OIB”), a wholly-owned subsidiary of the Bank, and Oriental Overseas, a division of the Bank, are international banking entities licensed pursuant to the International Banking Center Regulatory Act of Puerto Rico, as amended. OIB and Oriental Overseas offer the Bank certain Puerto Rico tax advantages. Their activities are limited under Puerto Rico law to assets/liabilities located outside of Puerto Rico. In March 2024, the Bank organized OBPEF LLC (“OBPEF”), as a wholly-owned subsidiary of the Bank and a private equity fund under the Puerto Rico Incentives Code, as amended, whose objective is to provide financing to eligible borrowers, whether in the form of senior or subordinated debt, to support the economic development of Puerto Rico. Basis of Presentation The accompanying unaudited consolidated financial statements of OFG have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission (“SEC”). Accordingly, these consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of OFG on a consolidated basis, and all such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in OFG’s annual report on Form 10-K for the fiscal year ended December 31, 2023 (the “2023 Form 10-K”). Operating results for the nine-month period ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. OFG evaluated subsequent events through the filing date of this report with the SEC and has recorded or disclosed those material events or transactions as described within the accompanying consolidated financial statements and notes. Material estimates that are particularly susceptible to significant change in the near term relate mainly to the determination of the allowance for credit losses. New Accounting Updates Not Yet Adopted Codification Improvements—Amendments to Remove References to the Concepts Statements. In March 2024, the Financial Accounting Standards Board (“FASB”) issued ASU 2024-02, which removes various references to concept statements from the FASB Accounting Standards Codification. The ASU intends to simplify the Accounting Standards Codification and distinguish between non-authoritative and authoritative guidance. For public business entities, the amendments will be effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. The amendments can be applied prospectively or retrospectively. We will adopt this guidance when it becomes effective in the first quarter of 2025 on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. Compensation—Stock Compensation. In March 2024, the FASB issued ASU 2024-01 to improve GAAP by adding an illustrative example to demonstrate how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether profits interest and similar awards should be accounted for in accordance with Topic 718. The ASU 2024-01 is intended to reduce complexity and diversity in practice. For public business entities, the amendments will be effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted. We will adopt this guidance when it becomes effective in the first quarter of 2025 on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. Segment Reporting—Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued ASU 2023-07 to enhance segment reporting by expanding the breadth and frequency of segment disclosures required for public entities. The amendments in this ASU will allow registrants to disclose multiple measures of segment profit or loss and it also clarifies that single reportable segment entities must apply Topic 280 in its entirety. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We will adopt this guidance when it becomes effective in the annual period of 2024 on a retrospective basis to all periods presented in the financial statements, and the impact on our financial statements and disclosures is not expected to be material. Income Taxes—Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09 to enhance income tax disclosures and requests for more information about the tax risks and opportunities present in an entity’s worldwide operations. The ASU’s two primary enhancements will require further disaggregation for existing disclosures for the effective tax rate reconciliation and income taxes paid. More specifically, the amendments will require entities to disclose: a tabular effective tax rate reconciliation, broken out into specific categories with certain reconciling items above a 5% threshold further broken out by nature and jurisdiction; and income taxes paid (net of refunds received), broken out between federal, state and foreign, and net amounts paid to an individual jurisdiction that exceed 5% of the total. The amendments in this update are effective for annual periods beginning after December 15, 2024. Entities are permitted to early adopt these amendments. The amendments should be applied prospectively, but retrospective application is permitted. We will adopt this guidance when it becomes effective in the annual period of 2025 on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. The Enhancement and Standardization of Climate-Related Disclosures for Investors. On March 6, 2024, the SEC issued a final rule under SEC Release No. 33-11275 that requires registrants to provide climate disclosures in their annual reports and registration statements. The rule includes disclosure concerning the use of carbon offsets or renewable energy credits or certificates if their use is a material component of the registrant’s plans to achieve its disclosed climate-related targets or goals, and certain disclosures about Scope 1 and/or Scope 2 greenhouse gas (“GHG”) emissions, if material. It also requires disclosures of amounts related to the effects of severe weather events and other natural conditions. The disclosure requirements will apply to OFG’s fiscal year beginning January 1, 2025. We will adopt this rule when it becomes effective. OFG is currently evaluating the final rule and its impact on our financial statements and disclosures.

RESTRICTED CASH

RESTRICTED CASH	9 Months Ended
	Sep. 30, 2024
Restricted Cash and Investments [Abstract]
RESTRICTED CASH	RESTRICTED CASH The Bank is required by Puerto Rico law to maintain average weekly reserve balances to cover demand deposits, excluding government deposits that are secured with pledged collateral. The amount of those minimum average reserve balances for the week that covered September 30, 2024 was $460.1 million (December 31, 2023 - $464.5 million). At September 30, 2024 and December 31, 2023, the Bank complied with this requirement. Cash and due from banks, as well as other short-term highly liquid securities, are used to cover the required average reserve balances.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES Money Market Investments OFG considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less at the date of acquisition. At September 30, 2024 and December 31, 2023, money market instruments included as part of cash and cash equivalents amounted to $5.9 million and $4.6 million, respectively. Investment Securities The amortized cost, gross unrealized gains and losses, fair value, weighted average yield and contractual maturities of the securities owned by OFG at September 30, 2024 and December 31, 2023 were as follows: September 30, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates Due from 1 to 5 years $ 13,748 $ — $ 427 $ 13,321 2.08 % Due from 5 to 10 years 28,114 — 1,321 26,793 1.91 % Due after 10 years 1,774,062 23,652 38,846 1,758,868 4.42 % Total FNMA and FHLMC certificates 1,815,924 23,652 40,594 1,798,982 4.36 % GNMA certificates Due from 1 to 5 years 7,131 — 195 6,936 1.73 % Due from 5 to 10 years 12,344 14 515 11,843 2.25 % Due after 10 years 423,810 9,220 28,906 404,124 3.61 % Total GNMA certificates 443,285 9,234 29,616 422,903 3.54 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 5,901 — 151 5,750 1.78 % Due after 10 years 769 — 5 764 5.06 % Total CMOs issued by US government-sponsored agencies 6,670 — 156 6,514 2.16 % Total mortgage-backed securities 2,265,879 32,886 70,366 2,228,399 4.19 % Investment securities US Treasury securities Due less than 1 year 1,135 1 — 1,136 4.88 % Other debt securities Due less than 1 year 500 — — 500 3.25 % Due from 1 to 5 years 68 — 1 67 2.97 % Total other debt securities 568 — 1 567 3.22 % Total investment securities 1,703 1 1 1,703 4.32 % Total securities available for sale $ 2,267,582 $ 32,887 $ 70,367 $ 2,230,102 4.19 % September 30, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates Due after 10 years $ 297,713 $ — $ 48,515 $ 249,198 1.73 % Investment securities Other debt securities Due from 1 to 5 years 35,000 51 — 35,051 6.20 % Total securities held to maturity $ 332,713 $ 51 $ 48,515 $ 284,249 2.20 % December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates Due from 1 to 5 years $ 6,972 — $ 311 $ 6,661 1.76 % Due from 5 to 10 years 45,835 — 2,767 43,068 2.00 % Due after 10 years 1,411,327 8,989 54,100 1,366,216 4.11 % Total FNMA and FHLMC certificates 1,464,134 8,989 57,178 1,415,945 4.03 % GNMA certificates Due less than 1 year 5 — — 5 1.31 % Due from 1 to 5 years 8,851 — 351 8,500 1.71 % Due from 5 to 10 years 17,113 16 955 16,174 2.19 % Due after 10 years 380,306 4,419 33,110 351,615 3.38 % Total GNMA certificates 406,275 4,435 34,416 376,294 3.30 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 9,071 — 364 8,707 1.78 % Due from 5 to 10 years 54 — — 54 2.14 % Due after 10 years 861 — 12 849 5.07 % Total CMOs issued by US government-sponsored agencies 9,986 — 376 9,610 2.06 % Total mortgage-backed securities 1,880,395 13,424 91,970 1,801,849 3.86 % Investment securities US Treasury securities due less than 1 year 296,747 52 — 296,799 5.40 % Other debt securities Due less than 1 year 500 — — 500 3.25 % Due from 1 to 5 years 119 — 3 116 2.97 % Total other debt securities 619 — 3 616 3.20 % Total investment securities 297,366 52 3 297,415 5.39 % Total securities available for sale $ 2,177,761 $ 13,476 $ 91,973 $ 2,099,264 4.07 % December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates Due after 10 years $ 314,710 $ — $ 56,767 $ 257,943 1.72 % Investment securities US Treasury securities Due less than 1 year 199,314 — 1,548 197,766 3.33 % Other debt securities Due from 1 to 5 years 35,000 55 — 35,055 6.36 % Total securities held to maturity $ 549,024 $ 55 $ 58,315 $ 490,764 2.60 % Securities not due on a single contractual maturity date, such as collateralized mortgage obligations, are classified in the period of final contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. The weighted average yield on debt securities available-for-sale is based on amortized cost and does not give effect to changes in fair value. Weighted average yields on tax-exempt obligations have been computed on a fully taxable equivalent basis. At September 30, 2024 and December 31, 2023, most securities held by OFG are issued by U.S. government entities and government-sponsored agencies that have a zero-credit loss assumption and, therefore, have no allowance for credit losses. Investment securities at September 30, 2024 include $1.641 billion pledged to secure government deposits and regulatory collateral, of which $1.595 billion serve as collateral for public funds. For regulatory collateral, the secured parties are not permitted to sell or repledge them. Investment securities as of December 31, 2023 include $1.624 billion pledged to secure government deposits, derivatives, and regulatory collateral that the secured parties are not permitted to sell or repledge, of which $1.575 billion serve as collateral for public funds. At September 30, 2024 and December 31, 2023, the Bank’s international banking entities held short-term US Treasury securities in the amount of $525 thousand and $325 thousand, respectively, as the legal reserve required for international banking entities under Puerto Rico law. These instruments cannot be withdrawn or transferred without the prior written approval of the Office of the Commissioner of Financial Institutions. During the nine-month periods ended September 30, 2024 and 2023, OFG retained securitized GNMA pools totaling $55.7 million and $52.8 million, respectively, at a yield of 5.08% and 5.20%, respectively, from its own originations. During the nine-month periods ended September 30, 2024 and 2023, OFG sold $149.4 million and $203.3 million, respectively, of available for sale US Treasury securities and recognized a $7 thousand and $1.1 million, respectively, in losses on the sale. These losses are included in the consolidated statements of operations. Nine-Month Period Ended September 30, 2024 Description Sale Price Book Value at Sale Gross Gains Gross Losses (In thousands) Sale of investment securities available-for-sale Investment securities US Treasury securities $ 149,406 $ 149,413 $ — $ 7 Nine-Month Period Ended September 30, 2023 Description Sale Price Book Value at Sale Gross Gains Gross Losses (In thousands) Sale of investment securities available-for-sale Investment securities US Treasury securities $ 202,133 $ 203,282 $ — $ 1,149 The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale at September 30, 2024 and December 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: September 30, 2024 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 663,730 $ 40,594 $ 623,136 GNMA certificates 245,156 29,616 215,540 CMOs issued by US Government-sponsored agencies 6,670 156 6,514 Other debt securities 68 1 67 $ 915,624 $ 70,367 $ 845,257 There were no investment securities available-for-sale at September 30, 2024 with unrealized losses under 12 months. December 31, 2023 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 731,334 $ 56,847 $ 674,487 GNMA certificates 275,669 34,364 241,305 CMOs issued by US Government-sponsored agencies 9,986 376 9,610 Other debt securities 119 3 116 $ 1,017,108 $ 91,590 $ 925,518 December 31, 2023 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 106,235 $ 331 $ 105,904 GNMA certificates 7,864 52 7,812 $ 114,099 $ 383 $ 113,716 December 31, 2023 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 837,569 $ 57,178 $ 780,391 GNMA certificates 283,533 34,416 249,117 CMOs issued by US Government-sponsored agencies 9,986 376 9,610 Other debt securities 119 3 116 $ 1,131,207 $ 91,973 $ 1,039,234 The unrealized losses on OFG’s investment in federal agency mortgage-backed securities were caused by market volatility related to the sharp interest rate increases in 2022 and 2023. During 2024, interest rates have decreased and are expected to continue to decrease through the end of the year. These decreases have reduced the unrealized losses of investments. OFG purchased those investments at a discount relative to their face amount, and the contractual cash flows of those investments are guaranteed by an agency of the U.S. government or by a government-sponsored enterprise. Accordingly, it is expected that the securities would not be settled at a price that is less than the amortized cost basis of OFG’s investments. OFG does not intend to sell the investments, and it is not more likely than not that OFG will be required to sell the investments before recovery of their amortized cost basis.

LOANS

LOANS	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
LOANS	LOANS OFG’s loan portfolio is composed of four segments: commercial, mortgage, consumer, and auto loans. Loans are further segregated into classes which OFG uses when assessing and monitoring the risk and performance of the portfolio. The composition of the amortized cost basis of OFG’s loan portfolio at September 30, 2024 and December 31, 2023 was as follows: September 30, 2024 December 31, 2023 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial PR: Commercial secured by real estate $ 1,181,022 $ 107,047 $ 1,288,069 $ 1,095,207 $ 120,988 $ 1,216,195 Other commercial and industrial 1,137,942 11,982 1,149,924 1,091,021 14,459 1,105,480 2,318,964 119,029 2,437,993 2,186,228 135,447 2,321,675 Commercial US 680,388 — 680,388 755,228 — 755,228 Total commercial loans 2,999,352 119,029 3,118,381 2,941,456 135,447 3,076,903 Mortgage loans 619,121 864,491 1,483,612 629,247 933,362 1,562,609 Consumer loans: Personal loans 615,566 251 615,817 568,358 264 568,622 Credit lines 10,477 309 10,786 10,926 288 11,214 Credit cards 37,298 — 37,298 40,314 — 40,314 Overdraft 407 — 407 296 — 296 663,748 560 664,308 619,894 552 620,446 Auto loans 2,483,611 664 2,484,275 2,272,530 1,891 2,274,421 6,765,832 984,744 7,750,576 6,463,127 1,071,252 7,534,379 Allowance for credit losses (155,133) (6,367) (161,500) (152,610) (8,496) (161,106) Total loans held for investment, net 6,610,699 978,377 7,589,076 6,310,517 1,062,756 7,373,273 Mortgage loans held-for-sale 10,908 — 10,908 — — — Other loans held-for-sale 4,716 — 4,716 28,345 — 28,345 Total loans held-for-sale 15,624 — 15,624 28,345 — 28,345 Total loans, net $ 6,626,323 $ 978,377 $ 7,604,700 $ 6,338,862 $ 1,062,756 $ 7,401,618 During the nine-month period ended September 30, 2024, OFG sold $56.3 million commercial loans held-for-sale and recognized a $454 thousand gain, included in other non-interest income in the consolidated statement of operations. During the nine-month period ended September 30, 2023, OFG sold $86 thousand commercial loans held-for-sale with no gain or loss. At September 30, 2024 and December 31, 2023, OFG had $4.7 million and $28.3 million, respectively, in commercial loans held-for-sale. At September 30, 2024 and December 31, 2023, OFG had carrying balances of $66.2 million and $68.6 million, respectively, in loans held-for-investment granted to the Puerto Rico government or its instrumentalities as part of the commercial loan segment. The Bank’s loans to the Puerto Rico government are general obligations of municipalities secured by ad valorem taxation, without limitation as to rate or amount, on all taxable property within the issuing municipalities in current status. The good faith, credit and unlimited taxing power of each issuing municipality are pledged for the payment of its general obligations. The tables below present the aging of the amortized cost of loans held for investment at September 30, 2024 and December 31, 2023, by class of loans. Mortgage loans past due include $41.8 million and $19.4 million of delinquent loans in the GNMA buy-back option program at September 30, 2024 and December 31, 2023, respectively. During the quarter ended September 30, 2024, OFG acquired the servicing rights of a $1.7 billion mortgage loan portfolio that was being subserviced by the Bank. Defaulted loans under the GNMA buy-back option program corresponding to this servicing portfolio amounted to $24.2 million at September 30, 2024. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option. September 30, 2024 30-59 Days 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial PR: Commercial secured by real estate $ 1,457 $ — $ 10,605 $ 12,062 $ 1,168,960 $ 1,181,022 $ — Other commercial and industrial 817 152 4,429 5,398 1,132,544 1,137,942 — 2,274 152 15,034 17,460 2,301,504 2,318,964 — Commercial US — — — — 680,388 680,388 — Total commercial loans 2,274 152 15,034 17,460 2,981,892 2,999,352 — Mortgage loans 4,277 6,545 53,933 64,755 554,366 619,121 1,799 Consumer loans: Personal loans 8,402 4,061 2,939 15,402 600,164 615,566 — Credit lines 70 82 73 225 10,252 10,477 — Credit cards 582 246 597 1,425 35,873 37,298 — Overdraft 42 — — 42 365 407 — 9,096 4,389 3,609 17,094 646,654 663,748 — Auto loans 118,272 42,753 16,978 178,003 2,305,608 2,483,611 — Total loans $ 133,919 $ 53,839 $ 89,554 $ 277,312 $ 6,488,520 $ 6,765,832 $ 1,799 December 31, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial PR: Commercial secured by real estate $ 1,585 $ 411 $ 5,671 $ 7,667 $ 1,087,540 $ 1,095,207 $ — Other commercial and industrial 1,366 291 4,974 6,631 1,084,390 1,091,021 — 2,951 702 10,645 14,298 2,171,930 2,186,228 — Commercial US — — — — 755,228 755,228 — Total commercial loans 2,951 702 10,645 14,298 2,927,158 2,941,456 — Mortgage loans 6,107 9,596 31,557 47,260 581,987 629,247 2,478 Consumer loans: Personal loans 6,115 4,041 2,755 12,911 555,447 568,358 — Credit lines 137 35 35 207 10,719 10,926 — Credit cards 657 280 586 1,523 38,791 40,314 — Overdraft 87 14 — 101 195 296 — 6,996 4,370 3,376 14,742 605,152 619,894 — Auto loans 101,610 46,071 19,056 166,737 2,105,793 2,272,530 — Total loans $ 117,664 $ 60,739 $ 64,634 $ 243,037 $ 6,220,090 $ 6,463,127 $ 2,478 As of December 31, 2023, total past due loans exclude $6.4 million of past due commercial loans held - for - sale, these loans were sold during the nine-month period ended September 30, 2024. There were no past due commercial loans held-for-sale as of September 30, 2024. Upon adoption of the Current Expected Credit Losses (“CECL”) methodology, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, purchased credit deteriorated (“PCD”) loans are not included in the preceding two tables. Non-accrual Loans The following table presents the amortized cost basis of loans held for investment on non-accrual status as of September 30, 2024 and December 31, 2023: September 30, 2024 December 31, 2023 Non-accrual with Allowance for Credit Loss Non-accrual with no Allowance for Credit Loss Total Non-accrual with Allowance for Credit Loss Non-accrual with no Allowance for Credit Loss Total (In thousands) (In thousands) Non-PCD: Commercial PR: Commercial secured by real estate $ 5,388 $ 7,326 $ 12,714 $ 3,553 $ 7,929 $ 11,482 Other commercial and industrial 2,741 2,065 4,806 4,560 830 5,390 8,129 9,391 17,520 8,113 8,759 16,872 Commercial US 18,579 — 18,579 19,224 — 19,224 Total Commercial loans 26,708 9,391 36,099 27,337 8,759 36,096 Mortgage loans 10,041 3,826 13,867 10,339 3,858 14,197 Consumer loans: Personal loans 2,958 — 2,958 2,741 14 2,755 Credit lines 73 — 73 35 — 35 Credit cards 596 — 596 586 — 586 3,627 — 3,627 3,362 14 3,376 Auto loans 16,972 6 16,978 19,051 5 19,056 Total $ 57,348 $ 13,223 $ 70,571 $ 60,089 $ 12,636 $ 72,725 PCD: Commercial PR: Commercial secured by real estate $ — $ 3,328 $ 3,328 $ 3,060 $ 2,417 $ 5,477 Other commercial and industrial — 592 592 — 947 947 — 3,920 3,920 3,060 3,364 6,424 Mortgage loans 241 — 241 250 — 250 Total $ 241 $ 3,920 $ 4,161 $ 3,310 $ 3,364 $ 6,674 Total non-accrual loans $ 57,589 $ 17,143 $ 74,732 $ 63,399 $ 16,000 $ 79,399 The determination of non-accrual or accrual status of PCD loans is made at the pool level, not the individual loan level. For December 31, 2023, total commercial non-accrual loans exclude $6.4 million of non-accrual commercial loans held-for-sale, these loans were sold during the second quarter of 2024. There were no commercial non-accrual loans held-for-sale at September 30, 2024. Delinquent residential mortgage loans insured or guaranteed under applicable Federal Housing Administration (“FHA”) and Veterans Administration (“VA”) programs are classified as non-performing loans when they become 90 days or more past due but are not placed in non-accrual status until they become 12 months or more past due, since they are insured loans. Therefore, those loans are included as non-performing loans but excluded from non-accrual loans. OFG’s loss mitigation program was designed to ensure that borrowers experiencing financial difficulties have the opportunity to continue paying their obligations. The loss mitigation alternatives are divided depending on the borrower’s hardship and its ability to continue with regular payment or with a new modified payment plan. The loss mitigation program provides alternatives for home retention or disposition options avoiding foreclosure proceedings and collateral retention. OFG offers various types of loan modifications to borrowers experiencing financial difficulty in the form of an interest rate reduction, an other-than-insignificant payment delay, a term extension, interest or principal forbearance or forgiveness, or any combination of these types of concessions. At September 30, 2024 and 2023, the amortized cost of modified loans excludes $33 thousand and $110 thousand, respectively, in accrued interest receivable. Accrued interest receivable on loans is included in the “accrued interest receivable” line in OFG’s consolidated statements of financial condition. The amortized cost of modified loans during the nine-month period ended September 30, 2024 and 2023, includes $621 thousand and $4.5 million, respectively, of government-guaranteed loans ( e.g., FHA/VA). The following tables present the amortized cost basis as of September 30, 2024 and 2023 of loans held for investment that were modified during the quarters and nine-month periods ended September 30, 2024 and 2023, disaggregated by class of financing receivable and type of concession granted. Quarter Ended September 30, 2024 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial US $ 9,824 1.44 % $ — — % $ — — % $ — — % $ — — % Mortgage loans — — % 415 0.03 % — — % — — % 123 0.01 % Total $ 9,824 $ 415 $ — $ — $ 123 Nine-Month Period Ended September 30, 2024 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial US $ 9,824 1.44 % $ — — % $ — — % $ — — % $ — — % Mortgage loans — — % 1,084 0.07 % — — % 89 0.01 % 123 0.01 % Consumer: Personal loans 26 — % 7 — % — — % — — % — — % Auto loans 31 — % — — % — — % — — % — — % Total $ 9,881 $ 1,091 $ — $ 89 $ 123 Quarter Ended September 30, 2023 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial PR: Commercial secured by real estate $ — — % $ 629 0.06 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 36 — % — — % — — % — — % — — % 665 0.02 % — — % — — % — — % Commercial US 6,824 0.96 % — — % — — % — — % — — % Total Commercial loans 6,824 0.96 % 665 0.02 % — — % — — % — — % Mortgage loans — — % 771 0.05 % — — % 117 0.01 % — — % Consumer: Personal loans 40 0.01 % — — % — — % — — % — — % Auto loans 30 — % — — % — — % — — % — — % Total $ 6,894 $ 1,436 $ — $ 117 $ — Nine-Month Period Ended September 30, 2023 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial PR: Commercial secured by real estate $ — — % $ 6,328 0.56 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 80 0.01 % — — % — — % — — % — — % 6,408 0.23 % — — % — — % — — % Commercial US 6,824 0.96 % — — % — — % — — % 4,286 0.61 % Total Commercial loans 6,824 — % 6,408 0.23 % — — % — — % 4,286 0.61 % Mortgage loans — — % 5,040 0.31 % 98 0.01 % 723 0.05 % 447 0.03 % Consumer: Personal loans 40 0.01 % — — % — — % 82 0.01 % — — % Auto loans 30 — % — — % — — % — — % — — % Total $ 6,894 $ 11,448 $ 98 $ 805 $ 4,733 Our credit loss estimation methodology incorporates a lifetime approach, utilizing modeled loan performance based on the historical experience of loans with similar risk characteristics, adjusted for current conditions, and reasonable and supportable forecasts. The model considers extensive historical loss experience, including the impact of loss mitigation programs offered to borrowers facing financial difficulty and projected loss severity from loan defaults, and is applied consistently across all portfolio segments. Additionally, our ACL is recorded on each asset upon origination or acquisition and is based on historical loss information, including modifications made to borrowers facing financial difficulty, and expected behavior. Changes to the ACL are generally not recorded upon modification, as the effects of most modifications are already considered in the estimation methodology. Refer to Note 5 – Allowance for Credit Losses for additional information. The following tables present the financial effect of the modifications granted to borrowers experiencing financial difficulty during the quarters and nine-month periods ended September 30, 2024 and 2023. The financial effect of the combined modifications is presented separately by type of modification. Quarter Ended September 30, 2024 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial US 0.73 % 0 $ — Mortgage loans — % 193 10,993 Nine-Month Period Ended September 30, 2024 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial US 0.73 % 0 $ — Mortgage loans 0.38 % 185 10,993 Consumer loans: Personal loans 5.00 % 18 — Auto loans 3.00 % 0 — Quarter Ended September 30, 2023 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial PR: Commercial loans secured by real estate — % 14 $ — Commercial US 1.95 % 0 — Mortgage loans 1.25 % 349 — Consumer loans: Personal loans 4.00 % 0 — Auto loans 3.00 % 0 — Nine-Month Period Ended September 30, 2023 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial PR: Commercial loans secured by real estate — % 23 $ — Commercial US 1.95 % 31 2,973 Mortgage loans 1.94 % 227 24 Consumer loans: Personal loans 2.98 % 81 — Auto loans 3.00 % 0 — The following table presents the amortized cost basis as of September 30, 2024 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the prior twelve-months. Twelve-Months Ended September 30, 2024 Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted Interest Rate Reduction Term Extension Principal Forgiveness/Forbearance Combination - Term Extension and Interest Rate Reduction Total (In thousands) Mortgage loans $ — $ 107 $ — $ — $ 107 The following table presents the amortized cost basis as of September 30, 2023 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the nine-month period ended September 30, 2023. Nine-Months Ended September 30, 2023 Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted Interest Rate Reduction Term Extension Principal Forgiveness/Forbearance Combination - Term Extension and Interest Rate Reduction Total (In thousands) Mortgage loans $ — $ 415 $ — $ — $ 415 A payment default for a financial difficulty modification loan is defined as reaching 90 days past due with respect to principal and/or interest payments or when the borrower missed three consecutive monthly payments since modification. Payment defaults is one of the factors considered when projecting future cash flows in the calculation of the allowance for credit losses of loans. OFG closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the payment status of loans that have been modified in the twelve-months period ended September 30, 2024 and in the nine-month period ended September 30, 2023 that were granted to borrowers experiencing financial difficulty. September 30, 2024 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial loans: Commercial PR: Other commercial and industrial $ — $ — $ — $ — $ 598 $ 598 Commercial US — — — — 9,824 9,824 Total Commercial loans — — — — 10,422 10,422 Mortgage loans — 38 107 145 1,937 2,082 Consumer loans: Personal loans 26 — — 26 7 33 Auto loans — — — — 80 80 Total $ 26 $ 38 $ 107 $ 171 $ 12,446 $ 12,617 September 30, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial PR: Commercial loans secured by real estate $ — $ — $ — $ — $ 6,328 $ 6,328 Other commercial and industrial — — — — 80 80 — — — — 6,408 6,408 Commercial US — — — — 11,110 11,110 — — — — 17,518 17,518 Mortgage loans 566 133 415 1,114 5,194 6,308 Consumer loans: Personal loans — — — — 122 122 Auto loans — — — — 30 30 Total $ 566 $ 133 $ 415 $ 1,114 $ 22,864 $ 23,978 There were no outstanding commitments to lend additional funds to debtors experiencing financial difficulties at September 30, 2024 and December 31, 2023. As of September 30, 2024 and December 31, 2023, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $26.4 million and $24.1 million, respectively. OFG commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent. Puerto Rico and the USVI require the foreclosure to be processed through their respective courts. Foreclosure timelines vary according to local law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediation, bankruptcy, court delays and property title issues. Collateral-dependent Loans The table below presents the amortized cost of commercial collateral-dependent loans held for investment at September 30, 2024 and December 31, 2023, by class of loans. September 30, December 31, 2024 2023 (In thousands) Commercial PR: Commercial loans secured by real estate $ 8,583 $ 8,027 PCD loans, except for single-pooled loans, are not included in the table above as their unit of account is the loan pool. Credit Quality Indicators OFG categorizes its loans into loan grades based on relevant information about the ability of borrowers to service their debts, such as economic conditions, portfolio risk characteristics, prior loss experience, and the results of periodic credit reviews of individual loans. OFG uses the following definitions for loan grades: Pass: Loans classified as “pass” have a well-defined primary source of repayment very likely to be sufficient, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and capitalization better than industry standards. Special Mention: Loans classified as “special mention” have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as “substandard” are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as “doubtful” have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, questionable and improbable. Loss: Loans classified as “loss” are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this worthless loan even though partial recovery may be effected in the future. Loans not meeting the criteria above that are analyzed individually as part of the process described above are considered to be pass loans. As of September 30, 2024, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans, and current year-to-date period gross charge-offs by year of origination is as follows: Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Commercial PR: Commercial secured by real estate: Loan grade: Pass $ 138,499 $ 206,787 $ 231,378 $ 191,942 $ 106,952 $ 200,524 $ 49,560 $ 1,125,642 Special Mention — 13,274 7,253 6,284 914 12,548 93 40,366 Substandard — 729 562 1,462 1,199 9,459 1,603 15,014 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial secured by real estate 138,499 220,790 239,193 199,688 109,065 222,531 51,256 1,181,022 Commercial secured by real estate: YTD gross charge-offs — — — — — 7 — 7 Other commercial and industrial: Loan grade: Pass 146,412 276,363 50,926 52,184 25,272 15,075 516,028 1,082,260 Special Mention — 410 3,429 45,013 — 64 1,557 50,473 Substandard — 7 353 894 225 1,051 2,679 5,209 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 146,412 276,780 54,708 98,091 25,497 16,190 520,264 1,137,942 Other commercial and industrial: YTD gross charge-offs 114 142 267 3,310 — 25 — 3,858 Commercial US: Loan grade: Pass 41,137 121,158 32,797 58,473 20,884 23,749 258,111 556,309 Special Mention — — 15,977 — — — 61,383 77,360 Substandard 16,355 16,121 — 6,249 — 5,660 — 44,385 Doubtful 2,334 — — — — — — 2,334 Loss — — — — — — — — Total Commercial US: 59,826 137,279 48,774 64,722 20,884 29,409 319,494 680,388 Commercial US: YTD gross charge-offs — — 392 1,749 — 1,183 — 3,324 Total commercial loans $ 344,737 $ 634,849 $ 342,675 $ 362,501 $ 155,446 $ 268,130 $ 891,014 $ 2,999,352 Total YTD gross charge-offs $ 114 $ 142 $ 659 $ 5,059 $ — $ 1,215 $ — $ 7,189 As of December 31, 2023, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans is as follows: Term Loans Revolving Total 2023 2022 2021 2020 2019 Prior (In thousands) Commercial PR: Commercial secured by real estate: Loan grade: Pass $ 224,598 $ 216,205 $ 195,884 $ 120,489 $ 80,671 $ 131,016 $ 65,873 $ 1,034,736 Special Mention — 1,772 6,554 5,057 15,676 12,500 153 41,712 Substandard — 459 1,386 1,109 2,615 11,939 1,236 18,744 Doubtful — — — — — 15 — 15 Loss — — — — — — — — Total commercial secured by real estate 224,598 218,436 203,824 126,655 98,962 155,470 67,262 1,095,207 Commercial secured by real estate: YTD gross charge-offs — — 265 — 94 820 — 1,179 Other commercial and industrial: Loan grade: Pass 284,615 99,522 113,760 37,665 7,438 14,836 527,008 1,084,844 Special Mention 8 2,953 — — 51 100 — 3,112 Substandard 3 473 826 259 935 186 383 3,065 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 284,626 102,948 114,586 37,924 8,424 15,122 527,391 1,091,021 Other commercial and industrial: YTD gross charge-offs — 124 1,095 89 9 1,180 — 2,497 Commercial US: Loan grade: Pass 142,222 63,885 69,233 31,206 28,202 8,085 358,757 701,590 Special Mention — 7,803 — — — — 20,913 28,716 Substandard 10,832 — — — — 5,699 8,391 24,922 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial US: 153,054 71,688 69,233 31,206 28,202 13,784 388,061 755,228 Commercial US: YTD gross charge-offs 33 1,156 642 47 — 8,637 — 10,515 Total commercial loans $ 662,278 $ 393,072 $ 387,643 $ 195,785 $ 135,588 $ 184,376 $ 982,714 $ 2,941,456 Total YTD gross charge-offs $ 33 $ 1,280 $ 2,002 $ 136 $ 103 $ 10,637 $ — $ 14,191 At September 30, 2024 and December 31, 2023 , the balance of revolving commercial loans converted to term loans was $190.8 million and $144.1 million, respectively. OFG considers the performance of the loan portfolio and its impact on the ACL. For mortgage and consumer loan classes, OFG also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment activity as of September 30, 2024: Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 17,753 $ 18,784 $ 21,215 $ 27,289 $ 18,507 $ 496,850 $ — $ 600,398 Nonperforming 151 641 289 172 189 17,281 — 18,723 Total mortgage loans: 17,904 19,425 21,504 27,461 18,696 514,131 — 619,121 Mortgage loans: YTD gross charge-offs — — — — — 102 — 102 Consumer loans: Personal loans: Payment performance: Performing 215,154 198,170 129,656 46,246 13,095 10,287 — 612,608 Nonperforming 230 1,432 867 348 40 41 — 2,958 Total personal loans 215,384 199,602 130,523 46,594 13,135 10,328 — 615,566 Personal loans: YTD gross charge-offs 389 7,482 9,896 2,858 633 980 — 22,238 Credit lines: Payment performance: Performing — — — — — — 10,404 10,404 Nonperforming — — — — — — 73 73 Total credit lines — — — — — — 10,477 10,477 Credit lines: YTD gross charge-offs — — — — — — 114 114 Credit cards: Payment performance: Performing — — — — — — 36,702 36,702 Nonperforming — — — — — — 596 596 Total credit cards — — — — — — 37,298 37,298 Credit cards: YTD gross charge-offs — — — — — — 2,004 2,004 Overdrafts: Payment performance: Performing — — — — — — 407 407 Nonperforming — — — — — — — — Total overdrafts — — — — — — 407 407 Overdrafts: YTD gross charge-offs — — — — — — 668 668 Total consumer loans 215,384 199,602 130,523 46,594 13,135 10,328 48,182 663,748 Total consumer loans YTD gross charge-offs 389 7,482 9,896 2,858 633 980 2,786 25,024 Total mortgage and consumer loans $ 233,288 $ 219,027 $ 152,027 $ 74,055 $ 31,831 $ 524,459 $ 48,182 $ 1,282,869 Total mortgage and consumer loans YTD gross charge-offs $ 389 $ 7,482 $ 9,896 $ 2,858 $ 633 $ 1,082 $ 2,786 $ 25,126 The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment activity as of December 31, 2023 : Term Loans Revolving Total 2023 2022 2021 2020 2019 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 24,623 $ 19,722 $ 23,303 $ 15,821 $ 14,589 $ 511,182 $ — $ 609,240 Nonperforming — — 181 108 479 19,239 — 20,007 Total mortgage loans: 24,623 19,722 23,484 15,929 15,068 530,421 — 629,247 Mortgage loans: YTD gross charge-offs — 4 — — — 755 — 759 Consumer loans: Personal loans: Payment performance: Performing 270,883 186,612 68,133 19,185 14,460 6,330 — $ 565,603 Nonperforming 503 1,588 304 193 66 101 — 2,755 Total personal loans 271,386 188,200 68,437 19,378 14,526 6,431 — 568,358 Personal loans: YTD gross charge-offs 1,748 10,512 4,661 830 1,384 731 — 19,866 Credit lines: Payment performance: Performing — — — — — — 10,891 $ 10,891 Nonperforming — — — — — — 35 35 Total credit lines — — — — — — 10,926 10,926 Credit lines: YTD gross charge-offs — — — — — — 419 419 Credit cards: Payment performance: Performing — — — — — — 39,728 $ 39,728 Nonperforming — — — — — — 586 586 Total credit cards — — — — — — 40,314 40,314 Credit cards: YTD gross charge-offs — — — — — — 2,825 2,825 Overdrafts: Payment performance: Performing — — — — — — 296 $ 296 Nonperforming — — — — — — — — Total overdrafts — — — — — — 296 296 Overdrafts: YTD gross charge-offs — — — — — — 545 545 Total consumer loans 271,383 188,200 68,437 19,378 14,526 6,431 51,536 619,894 Total consumer loans YTD gross charge-offs 1,748 10,512 4,661 830 1,384 731 3,789 23,655 Total mortgage and consumer loans $ 296,009 $ 207,922 $ 91,921 $ 35,307 $ 29,594 $ 536,852 $ 51,536 $ 1,249,141 Total mortgage and consumer loans YTD gross charge-offs $ 1,748 $ 10,516 $ 4,661 $ 830 $ 1,384 $ 1,486 $ 3,789 $ 24,414 At September 30, 2024, the balance of revolving mortgage and consumer loans that converted to term loans was $774 thousand. At December 31, 2023 , there were no mortgage and consumer revolving loans that converted to term loans. OFG evaluates credit quality for auto loans based on FICO score. The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of September 30, 2024: Term Loans Total 2024 2023 2022 2021 2020 Prior (In thousands) Auto loans: FICO score: 1-660 $ 105,309 $ 190,610 $ 171,226 $ 99,103 $ 44,862 $ 47,230 $ 658,340 661-699 129,267 134,525 79,908 41,118 18,395 18,164 421,377 700+ 402,994 419,461 262,013 144,578 75,105 74,804 1,378,955 No FICO 4,096 6,938 6,189 3,697 1,576 2,443 24,939 Total auto loans $ 641,666 $ 751,534 $ 519,336 $ 288,496 $ 139,938 $ 142,641 $ 2,483,611 Auto loans: YTD gross charge-offs $ 1,512 $ 15,216 $ 13,756 $ 6,327 $ 2,811 $ 3,526 $ 43,148 The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of December 31, 2023 : Term Loans Total 2023 2022 2021 2020 2019 Prior (In thousands) Auto loans: FICO score: 1-660 $ 170,639 $ 190,743 $ 118,821 $ 57,087 $ 41,124 $ 38,570 $ 616,984 661-699 169,430 110,260 58,166 25,886 18,253 16,137 398,132 700+ 474,005 323,514 183,286 103,886 88,929 58,779 1,232,399 No FICO 6,203 6,537 4,592 2,200 3,886 1,597 25,015 Total auto loans $ 820,277 $ 631,054 $ 364,865 $ 189,059 $ 152,192 $ 115,083 $ 2,272,530 Auto loans: YTD gross charge-offs $ 4,090 $ 18,142 $ 10,894 $ 4,008 $ 3,380 $ 3,250 $ 43,764 Upon adoption of CECL, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the preceding two tables. As of September 30, 2024 and December 31, 2023 , accrued interest receivable on loans totaled $60.1 million and $63.5 million, respectively, and is included in the accrued interest receivable line in OFG’s consolidated statements of financial condition. Refer to “Note 9 – Accrued Interest Receivable and Other Assets” for more information on accrued interest receivable on loans.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	9 Months Ended
	Sep. 30, 2024
Credit Loss [Abstract]
ALLOWANCE FOR CREDIT LOSSES	ALLOWANCE FOR CREDIT LOSSES OFG measures its ACL based on management’s best estimate of lifetime expected credit losses inherent in OFG’s relevant financial assets. The ACL is estimated using quantitative methods that consider a variety of factors such as historical loss experience, the current credit quality of the portfolio, and an economic outlook over the life of the loan. Also included in the ACL are qualitative reserves to cover losses that are expected but, in OFG’s assessment, may not be adequately represented in the quantitative methods or the economic assumptions. In its loss forecasting framework, OFG incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. The scenarios that are chosen each quarter and the amount of weight given to each scenario depend on a variety of factors, including recent economic events, leading economic indicators, views of internal as well as third-party economists and industry trends. For more information on OFG’s credit loss accounting policies, including the allowance for credit losses, see “Note 1 – Summary of Significant Accounting Policies” included in OFG’s 2023 Form 10-K. At September 30, 2024, OFG used an economic probability-weighted scenario approach consisting of the baseline and moderate recession scenarios, giving more weight to the baseline scenario, except for the US loan segment that uses a higher probability level in the moderate recessionary scenario. In addition, the ACL at September 30, 2024 continues to include qualitative reserves for certain segments that OFG views as higher risk that may not be fully recognized through its quantitative models, such as auto loan portfolio credit trends and the evolution of risk ratings applied to the commercial loans and collateral changes in real estate portfolios. There are still many unknown variables, including the results of the government’s fiscal and monetary actions resulting from the effect of inflation and geopolitical tension. As of September 30, 2024, the ACL decreased by $0.4 million compared to December 31, 2023. The provision for credit losses for the nine-month period ended September 30, 2024, reflected adjustments of $45.2 million related to loan volume, $14.7 million from loss rate model and $4.2 million in specific reserves, offset by a $7.5 million release from the economic model. The net charge-offs for the nine-month period ended September 30, 2024, amounted to $51.9 million, an increase of $16.4 million when compared to the same period of 2023. The increase is mainly due to $16.3 million from auto loans and $9.0 million from consumer loans as a result of higher loan volume, partially offset by a decrease of $7.8 million from commercial loans. Net charge-offs for the nine-month period ended September 30, 2024 include $3.3 million from previously and fully-reserved nonperforming paycheck protection program (“PPP”) loans. The following tables present the activity in OFG’s allowance for credit losses by segment for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 33,809 $ 6,886 $ 29,432 $ 80,722 $ 150,849 Provision for (recapture of) credit losses 928 (31) 9,904 10,212 21,013 Charge-offs (139) (37) (8,863) (16,371) (25,410) Recoveries 1,479 72 830 6,300 8,681 Balance at end of period $ 36,077 $ 6,890 $ 31,303 $ 80,863 $ 155,133 PCD: Balance at beginning of period $ 789 $ 5,642 $ 8 $ 13 $ 6,452 Provision for (recapture of) credit losses 751 (424) (16) (22) 289 Charge-offs (663) (66) — (9) (738) Recoveries 70 250 19 25 364 Balance at end of period $ 947 $ 5,402 $ 11 $ 7 $ 6,367 Total allowance for credit losses at end of period $ 37,024 $ 12,292 $ 31,314 $ 80,870 $ 161,500 Nine-Month Period Ended September 30, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 44,041 $ 7,998 $ 27,086 $ 73,485 $ 152,610 (Recapture of) provision for credit losses (2,462) (1,885) 26,867 32,329 54,849 Charge-offs (7,189) (102) (25,024) (43,148) (75,463) Recoveries 1,687 879 2,374 18,197 23,137 Balance at end of period $ 36,077 $ 6,890 $ 31,303 $ 80,863 $ 155,133 PCD: Balance at beginning of period $ 1,113 $ 7,351 $ 7 $ 25 $ 8,496 Provision for (recapture of) credit losses 377 (2,752) (45) (107) (2,527) Charge-offs (928) (178) — (24) (1,130) Recoveries 385 981 49 113 1,528 Balance at end of period $ 947 $ 5,402 $ 11 $ 7 $ 6,367 Total allowance for credit losses at end of period $ 37,024 $ 12,292 $ 31,314 $ 80,870 $ 161,500 Quarter Ended September 30, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 48,604 $ 8,670 $ 25,666 $ 67,227 $ 150,167 Provision for (recapture of) credit losses 1,103 (273) 6,026 9,804 16,660 Charge-offs (8,254) (218) (5,894) (10,458) (24,824) Recoveries 174 185 655 5,193 6,207 Balance at end of period $ 41,627 $ 8,364 $ 26,453 $ 71,766 $ 148,210 PCD: Balance at beginning of period $ 1,408 $ 8,297 $ 8 $ 43 $ 9,756 Provision for (recapture of) credit losses 60 (226) 15 (67) (218) Charge-offs (690) (148) (39) (37) (914) Recoveries 494 80 23 98 695 Balance at end of period $ 1,272 $ 8,003 $ 7 $ 37 $ 9,319 Total allowance for credit losses at end of period $ 42,899 $ 16,367 $ 26,460 $ 71,803 $ 157,529 Nine-Month Period Ended September 30, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 39,158 $ 9,571 $ 23,264 $ 69,848 $ 141,841 Provision for (recapture of) credit losses 14,857 (1,332) 16,517 10,900 40,942 Charge-offs (13,125) (610) (16,852) (29,106) (59,693) Recoveries 737 735 3,524 20,124 25,120 Balance at end of period $ 41,627 $ 8,364 $ 26,453 $ 71,766 $ 148,210 PCD: Balance at beginning of period $ 1,388 $ 9,359 $ 14 $ 71 $ 10,832 Provision for (recapture of) credit losses 1,376 (1,719) 293 (475) (525) Charge-offs (2,794) (224) (376) (158) (3,552) Recoveries 1,302 587 76 599 2,564 Balance at end of period $ 1,272 $ 8,003 $ 7 $ 37 $ 9,319 Total allowance for credit losses at end of period $ 42,899 $ 16,367 $ 26,460 $ 71,803 $ 157,529

FORECLOSED REAL ESTATE

FORECLOSED REAL ESTATE	9 Months Ended
	Sep. 30, 2024
Other Real Estate [Abstract]
FORECLOSED REAL ESTATE	FORECLOSED REAL ESTATE The following table presents the activity related to foreclosed real estate for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Balance at beginning of period $ 6,526 $ 10,639 $ 10,780 $ 11,214 Additions 638 1,879 2,689 $ 6,513 Sales (3,035) (3,799) (9,965) $ (10,451) Decline in value (299) (538) (600) $ (937) Other adjustments 589 1,374 1,515 $ 3,216 Balance at end of period $ 4,419 $ 9,555 $ 4,419 $ 9,555

SERVICING ASSETS

SERVICING ASSETS	9 Months Ended
	Sep. 30, 2024
Transfers and Servicing [Abstract]
SERVICING ASSETS	SERVICING ASSETS OFG periodically sells or securitizes mortgage loans while retaining the obligation to perform the servicing of such loans. In addition, OFG may purchase or assume the right to service mortgage loans originated by others. Whenever OFG undertakes an obligation to service a loan, management assesses whether a servicing asset and/or liability should be recognized. A servicing asset is recognized whenever the compensation for servicing is expected to more than adequately compensate OFG for servicing the loans. Likewise, a servicing liability would be recognized in the event that servicing fees to be received are not expected to adequately compensate OFG for its expected cost. During the quarter ended September 30, 2024, OFG acquired the servicing rights of a $1.7 billion mortgage loan portfolio that was being subserviced by the Bank. The fair value at the time of acquisition was $21.4 million. At September 30, 2024, the fair value of mortgage servicing rights was $68.5 million ($49.5 million — December 31, 2023). The following table presents the changes in servicing rights measured using the fair value method for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Fair value at beginning of period $ 49,789 $ 49,966 $ 49,520 $ 50,921 Acquired servicing rights 21,427 — 21,427 — Servicing from mortgage securitization or asset transfers 496 453 1,326 1,818 Changes due to payments on loans (1,108) (1,060) (2,759) (3,210) Changes in fair value due to changes in valuation model inputs or assumptions (2,092) 1,242 (1,002) 1,072 Fair value at end of period $ 68,512 $ 50,601 $ 68,512 $ 50,601 The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value as of September 30, 2024 and 2023: Nine-Month Period Ended September 30, 2024 2023 Constant prepayment rate 0.85% - 13.30% 3.33% - 20.40% Discount rate 10.00% - 15.50% 10.00% - 15.50% The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follows: September 30, December 31, 2024 2023 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 68,512 49,520 Weighted average life (in years) 7.8 7.3 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (1,375) $ (928) Decrease in fair value due to 20% adverse change $ (2,697) $ (1,821) Discount rate Decrease in fair value due to 10% adverse change $ (2,948) $ (1,999) Decrease in fair value due to 20% adverse change $ (5,670) $ (3,856) These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. Changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflecting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. Servicing fee income is based on a contractual percentage of the outstanding principal balance and is recorded as income when earned and included in the mortgage banking activities section in the consolidated statement of operations. Servicing fees on mortgage loans for the quarters ended September 30, 2024 and 2023 totaled $5.0 million and $4.6 million, respectively. Servicing fees on mortgage loans for the nine-month periods ended September 30, 2024 and 2023 totaled $14.0 million and $14.4 million, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill by reportable business segment is included in the table below. Refer to “ Note 22 – Business Segments” for additional information on OFG’s reportable business segments. Banking Wealth Management Treasury Total (In thousands) December 31, 2023 $ 84,063 $ 178 $ — $ 84,241 September 30, 2024 $ 84,063 $ 178 $ — $ 84,241 There were no changes in the carrying amount of goodwill during the quarters and nine-month periods ended September 30, 2024 and 2023. There were no accumulated impairment losses at September 30, 2024 and December 31, 2023. Relevant events and circumstances for evaluating whether it is more likely than not that the fair value of a reporting segment is less than its carrying amount may include macroeconomic conditions (such as deterioration of the Puerto Rico economy or the liquidity for Puerto Rico securities or loans secured by assets in Puerto Rico), adverse changes in legal factors or in the business climate, adverse actions by a regulator, unanticipated competition, the loss of key employees, natural disasters, or similar events. OFG performed its annual impairment review of goodwill during the fourth quarter of 2023 using October 31, 2023 as the annual evaluation date and concluded that there was no impairment at December 31, 2023. During the nine-month period ended September 30, 2024, OFG performed an assessment of events or circumstances that could trigger reductions in the book value of the goodwill. Based on this assessment, no impairments were identified at September 30, 2024. The following table reflects the components of other intangible assets subject to amortization at September 30, 2024 and December 31, 2023: Gross Accumulated Net (In thousands) September 30, 2024 Core deposit intangibles $ 41,507 $ 29,055 $ 12,452 Customer relationship intangibles 12,693 8,885 3,808 Total other intangible assets $ 54,200 $ 37,940 $ 16,260 December 31, 2023 Core deposit intangibles $ 41,507 $ 25,659 $ 15,848 Customer relationship intangibles 12,693 7,847 4,846 Total other intangible assets $ 54,200 $ 33,506 $ 20,694 In connection with previous acquisitions, OFG recorded core deposit intangibles representing the value of checking and savings deposits acquired. In addition, OFG recorded customer relationship intangibles representing the value of customer relationships acquired with its acquisitions of insurance agencies. During the nine-month period ended September 30, 2024, OFG performed an assessment of events or circumstances that could trigger reductions in the book value of other intangible assets. Based on this assessment, no impairments were identified at September 30, 2024. Other intangible assets have a definite useful life. Amortization of other intangible assets for the quarters ended September 30, 2024 and 2023 was $1.5 million and $1.7 million, respectively. Amortization of other intangible assets for the nine-month periods ended September 30, 2024 and 2023, was $4.4 million and $5.2 million, respectively. The following table presents the estimated amortization of other intangible assets for each of the following periods. Year Ending December 31, (In thousands) 2024 $ 5,913 2025 4,927 2026 3,942 2027 2,956 2028 1,971 Thereafter 985

ACCRUED INTEREST RECEIVABLE AND

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	9 Months Ended
	Sep. 30, 2024
Accrued Interest Receivable and Other Assets [Abstract]
ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS Accrued interest receivable at September 30, 2024 and December 31, 2023 consists of the following: September 30, 2024 December 31, 2023 (In thousands) Loans $ 60,086 $ 63,526 Investments 10,281 7,874 $ 70,367 $ 71,400 Accrued interest receivable on loans that participated in the Hurricane Fiona and Covid-19 deferral programs amounted to $18.8 million at September 30, 2024, of which $18.0 million corresponded to loans in current status, and $20.2 million at December 31, 2023, of which $18.2 million corresponded to loans in current status. OFG estim ates expected credit losses on accrued interest receivable for loans that participated in moratorium programs. An allowance has been established for loans with delinquency status in 30 to 89 days past due and is calculated by applying the corresponding loan projected loss factors to the accrued interest receivable balance. At September 30, 2024 and December 31, 2023, the ACL for accrued interest receivable for loans that participated in moratorium programs amounted to $103 thousand and $85 thousand, respectively, and is included in accrued interest receivable in the statement of financial condition. Other assets at September 30, 2024 and December 31, 2023 consist of the following: September 30, 2024 December 31, 2023 (In thousands) Prepaid expenses $ 98,931 $ 63,040 Other repossessed assets 6,969 4,032 Accounts receivable and other assets 62,052 47,859 $ 167,952 $ 114,931 Prepaid expenses amounting to $98.9 million at September 30, 2024, include prepaid municipal, property and income taxes aggregating to $87.6 million. At December 31, 2023 prepaid expenses amounted to $63.0 million, including prepaid municipal, property and income taxes aggregating to $54.7 million. Other repossessed assets totaled $7.0 million and $4.0 million at September 30, 2024 and December 31, 2023, respectively, and consist of repossessed automobiles, which are recorded at their net realizable value.

DEPOSITS AND RELATED INTEREST

DEPOSITS AND RELATED INTEREST	9 Months Ended
	Sep. 30, 2024
Deposits and Related Interest [Abstract]
DEPOSITS AND RELATED INTEREST	DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of September 30, 2024 and December 31, 2023 consist of the following: September 30, 2024 December 31, 2023 (In thousands) Non-interest-bearing demand deposits $ 2,534,363 $ 2,537,431 Interest-bearing savings and demand deposits 5,345,256 5,601,099 Retail certificates of deposit 1,162,870 1,083,316 Institutional certificates of deposit 490,532 378,143 Total core deposits 9,533,021 9,599,989 Brokered deposits 75,631 162,180 Total deposits $ 9,608,652 $ 9,762,169 At September 30, 2024 and December 31, 2023, the aggregate amount of uninsured deposits was $5.005 billion (52% of total deposits) and $4.885 billion (50.0% of total deposits), respectively. The weighted average interest rate of OFG’s deposits was 1.51% and 0.88%, respectively, at September 30, 2024 and December 31, 2023. Interest expense for the quarters and nine-month periods ended September 30, 2024 and 2023 was as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Demand and savings deposits $ 25,921 $ 13,772 $ 78,668 $ 32,864 Certificates of deposit 12,423 7,047 34,280 16,368 $ 38,344 $ 20,819 $ 112,948 $ 49,232 At September 30, 2024 and December 31, 2023, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $937.7 million and $747.2 million, respectively. At September 30, 2024 and December 31, 2023, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $1.574 billion and $1.616 billion, respectively. These public funds were collateralized with securities and commercial loans amounting to $1.672 billion and $1.645 billion at September 30, 2024 and December 31, 2023, respectively. Excluding accrued interest of approximately $2.0 million and $3.0 million, the scheduled maturities of certificates of deposit at September 30, 2024 and December 31, 2023 are as follows: September 30, 2024 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 327,472 $ 134,086 Over 3 months through 6 months 415,505 247,212 Over 6 months through 1 year 511,131 183,129 1,254,108 564,427 Over 1 through 2 years 325,694 62,099 Over 2 through 3 years 69,395 14,263 Over 3 through 4 years 40,191 2,751 Over 4 through 5 years 37,111 5,439 Over 5 years 487 — $ 1,726,986 $ 648,979 December 31, 2023 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 457,533 $ 115,392 Over 3 months through 6 months 195,902 61,245 Over 6 months through 1 year 329,758 113,524 983,193 290,161 Over 1 through 2 years 467,348 201,478 Over 2 through 3 years 94,450 13,971 Over 3 through 4 years 29,514 1,379 Over 4 through 5 years 45,575 4,665 Over 5 years 608 — $ 1,620,688 $ 511,654 The tables of scheduled maturities of certificates of deposits above includes brokered-deposits and individual retirement accounts. The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $678 thousand and $564 thousand as of September 30, 2024 and December 31, 2023, respectively.

BORROWINGS AND RELATED INTEREST

BORROWINGS AND RELATED INTEREST	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
BORROWINGS AND RELATED INTEREST	BORROWINGS AND RELATED INTEREST Advances from the Federal Home Loan Bank of New York Advances are received from the FHLB under an agreement whereby OFG is required to maintain a minimum amount of qualifying collateral with a fair value of at least 110% of the outstanding advances. At September 30, 2024 and December 31, 2023, these advances were secured by mortgage and commercial loans amounting to $874.3 million and $1.0 billion, respectively. Also, at September 30, 2024 and December 31, 2023, OFG had an additional borrowing capacity with the FHLB of $402.8 million and $446.0 million, respectively. At September 30, 2024 and December 31, 2023, the weighted average remaining maturity of FHLB advances was 7 months and 1.2 years, respectively. The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $827 thousand and $768 thousand at September 30, 2024 and December 31, 2023, respectively: September 30, 2024 December 31, 2023 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.56% $ 215,000 $ — Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 3.79% (December 31, 2023 - 4.52%) 55,000 200,000 $ 270,000 $ 200,000 Advances from FHLB mature as follows: September 30, 2024 December 31, 2023 (In thousands) Under 90 days $ 15,000 $ — Over 90 days to one year 200,000 $ — Over one to three years 55,000 200,000 $ 270,000 $ 200,000

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES OFG is subject to the provisions of the Puerto Rico Internal Revenue Code of 2011, as amended (the “PR Code”). The PR Code imposes a maximum statutory corporate tax rate of 37.5%. OFG has operations in the U.S. through its wholly owned subsidiaries OFG Ventures and OFG USA, which is a direct subsidiary of the Bank, and has two branches in the USVI. The United States subsidiaries are subject to federal income taxes at the corporate level, while the USVI branches are subject to federal income taxes under a mirror system and a 10% surtax included in the maximum tax rate. OFG USA is subject to North Carolina state taxes, and current investments in OFG Ventures are subject to state taxes in Missouri. In addition, OFG’s wholly owned subsidiary, OFG Reinsurance Ltd., is tax exempt in Grand Cayman. As of September 30, 2024, OFG’s net deferred tax assets, net of a valuation allowance of $6.0 million, amounted to $4.1 million; and the net deferred tax liability, net of valuation allowance of $726 thousand, amounted to $57.5 million, reflecting the aggregate deferred tax assets or liabilities of individual tax-paying subsidiaries of OFG. As of December 31, 2023, OFG’s deferred tax asset, net of a valuation allowance of $7.0 million, amounted to $4.9 million; and net deferred tax liability, net of a valuation allowance of $569 thousand, amounted to $22.4 million, reflecting aggregate deferred tax assets or liabilities of individual tax-paying subsidiaries of OFG. The decrease in valuation allowance of $850 thousand was mainly related to OFG’s operations at the holding company level. In assessing the realizability of the deferred tax asset, management considers whether it is more likely than not that some portion or the entire deferred tax asset will not be realized. The ultimate realization of the deferred tax asset is dependent upon the generation of future income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future income, and tax planning strategies in making this assessment. Based upon the assessment of positive and negative evidence, the level of historical taxable income, projections for future taxable income over the periods in which the deferred tax asset are deductible, and provisions of certain closing agreements, management believes it is more likely than not that OFG will realize the benefits of these deductible differences, net of the existing valuation allowances, at September 30, 2024. The amount of the deferred tax asset that is considered realizable could be reduced in the near term if there are changes in estimates of future taxable income. OFG maintained an effective tax rate (“ETR”) lower than the statutory rate for the nine-month periods ended September 30, 2024 and 2023 of 26.4% and 31.3%, respectively, the decrease is mainly related to exempt income subject to preferential tax treatment under the PR Code, a discrete tax windfall on stock options and a discrete benefit from the purchase of tax credits during the period. The expected ETR for 2024 is 26.81%. OFG classifies unrecognized tax benefits in other liabilities. These gross unrecognized tax benefits would affect the ETR if realized. At September 30, 2024, the amount of unrecognized tax benefits was $987 thousand (December 31, 2023 - $936 thousand).

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	9 Months Ended
	Sep. 30, 2024
Capital Disclosure [Abstract]
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS Regulatory Capital Requirements OFG (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and Puerto Rico banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on OFG’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, OFG and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. OFG and the Bank have elected to exclude accumulated comprehensive income related to both available for sale securities and derivative valuations from Common Equity Tier 1 Capital. As of September 30, 2024 and December 31, 2023, OFG and the Bank met all capital adequacy requirements to which they are subject. As of September 30, 2024 and December 31, 2023, OFG and the Bank are “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” an institution must maintain minimum CET1 risk-based, Tier 1 risk-based, total risk-based, and Tier 1 leverage ratios as set forth in the tables presented below. OFG’s and the Bank’s actual capital amounts and ratios as of September 30, 2024 and December 31, 2023 were as follows: Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) OFG Bancorp Ratios As of September 30, 2024 Total capital to risk-weighted assets $ 1,371,041 15.63 % $ 921,082 10.50 % $ 877,221 10.00 % Tier 1 capital to risk-weighted assets $ 1,260,944 14.37 % $ 745,638 8.50 % $ 701,777 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,260,944 14.37 % $ 614,054 7.00 % $ 570,193 6.50 % Tier 1 capital to average total assets $ 1,260,944 11.12 % $ 453,398 4.00 % $ 566,748 5.00 % As of December 31, 2023 Total capital to risk-weighted assets $ 1,278,537 15.37 % $ 873,369 10.50 % $ 831,780 10.00 % Tier 1 capital to risk-weighted assets $ 1,174,205 14.12 % $ 707,013 8.50 % $ 665,424 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,174,205 14.12 % $ 582,246 7.00 % $ 540,657 6.50 % Tier 1 capital to average total assets $ 1,174,205 11.03 % $ 425,911 4.00 % $ 532,389 5.00 % Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of September 30, 2024 Total capital to risk-weighted assets $ 1,275,292 14.63 % $ 915,051 10.50 % $ 871,478 10.00 % Tier 1 capital to risk-weighted assets $ 1,165,904 13.38 % $ 740,756 8.50 % $ 697,182 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,165,904 13.38 % $ 610,034 7.00 % $ 566,460 6.50 % Tier 1 capital to average total assets $ 1,165,904 10.38 % $ 449,116 4.00 % $ 561,395 5.00 % As of December 31, 2023 Total capital to risk-weighted assets $ 1,179,164 14.27 % $ 867,797 10.50 % $ 826,474 10.00 % Tier 1 capital to risk-weighted assets $ 1,075,487 13.01 % $ 702,503 8.50 % $ 661,179 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,075,487 13.01 % $ 578,532 7.00 % $ 537,208 6.50 % Tier 1 capital to average total assets $ 1,075,487 10.20 % $ 421,660 4.00 % $ 527,075 5.00 %

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Common Stock At both September 30, 2024 and December 31, 2023, common stock amounted to $59.9 million. Additional Paid-in Capital Additional paid-in capital represents contributed capital in excess of par value of common stock, net of the costs of issuance. At both September 30, 2024 and December 31, 2023, accumulated common stock issuance costs charged against additional paid-in capital amounted to $13.6 million. Legal Surplus The Puerto Rico Banking Act requires that a minimum of 10% of the Bank’s net income for the year be transferred to a reserve fund until such fund (legal surplus) equals the total paid-in capital on common and preferred stock. At September 30, 2024 and December 31, 2023, the Bank’s legal surplus amounted to $165.0 million and $151.0 million, respectively. During the quarter and nine-month period ended September 30, 2024, OFG transferred $4.4 million and $14.0 million, respectively, to the legal surplus account. During the quarter and nine-month period ended September 30, 2023, OFG transferred $4.2 million and $12.9 million, respectively, to the legal surplus account. The amount transferred to the legal surplus account is not available for the payment of dividends to shareholders. Treasury Stock In January 2024, OFG announced the approval by the Board of Directors of a stock repurchase program for the purchase of up to $50 million of its outstanding shares of common stock. The new stock repurchase program, which is open-ended, replaces the prior stock repurchase program of $100 million approved by the Board of Directors in January 2022, which had a remaining balance of $17.2 million. The shares of common stock repurchased are held by OFG as treasury shares. OFG records treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. During the nine-month period ended September 30, 2024, OFG repurchased 671,800 shares for a total of $24.4 million at an average price of $36.30 per share. Under the prior stock repurchase program, OFG repurchased 743,699 shares for a total of $18.7 million at an average price of $25.08 per share during the nine-month period ended September 30, 2023. At September 30, 2024, the estimated remaining number of shares that may be purchased under the $50.0 million program is 570,223 and was calculated by dividing the remaining balance of $25.6 million by $44.92 (closing price of OFG’s common stock at September 30, 2024). OFG did not repurchase any shares of its common stock during the nine-month periods ended September 30, 2024 and 2023, other than through its publicly announced stock repurchase program. The activity in connection with common shares held in treasury by OFG for the quarters and nine-month periods ended September 30, 2024 and 2023 is set forth below: Quarter Ended September 30, 2024 2023 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 13,323,702 $ 250,951 12,809,047 $ 226,230 Common shares used upon lapse of restricted stock units and options — — (55,219) (42) Common shares repurchased as part of the stock repurchase programs 2,600 104 73,600 2,186 End of period 13,326,302 $ 251,055 12,827,428 $ 228,374 Nine-Months Ended September 30, 2024 2024 2023 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 12,820,078 $ 228,350 12,303,859 $ 211,135 Common shares used upon lapse of restricted stock units and options (165,576) (1,681) (220,130) (1,414) Common shares repurchased as part of the stock repurchase programs 671,800 24,386 743,699 18,653 End of period 13,326,302 $ 251,055 12,827,428 $ 228,374

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss, net of income taxes, as of September 30, 2024 and December 31, 2023 consisted of: September 30, 2024 December 31, 2023 (In thousands) Unrealized loss on securities available-for-sale $ (37,480) $ (78,497) Income tax effect of unrealized loss on securities available-for-sale 4,490 11,484 Net unrealized loss on securities available-for-sale (32,990) (67,013) Accumulated other comprehensive loss, net of income taxes $ (32,990) $ (67,013) The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and nine-month periods ended September 30, 2024 and 2023: Net unrealized loss on securities available-for-sale Quarter Ended September 30, 2024 Nine-Month Period Ended September 30, 2024 (In thousands) Beginning balance $ (86,494) $ (67,013) Other comprehensive loss before reclassifications 53,502 34,024 Amounts reclassified out of accumulated other comprehensive loss 2 (1) Other comprehensive loss 53,504 34,023 Ending balance $ (32,990) $ (32,990) Quarter Ended September 30, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (89,639) $ 75 $ (89,564) Other comprehensive loss before reclassifications (38,040) (2,449) (40,489) Amounts reclassified out of accumulated other comprehensive loss 2 2,374 2,376 Other comprehensive loss (38,038) (75) (38,113) Ending balance $ (127,677) $ — $ (127,677) Nine-Month Period Ended September 30, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (93,663) $ 254 $ (93,409) Other comprehensive income (loss) before reclassifications (32,871) (5,647) (38,518) Amounts reclassified out of accumulated other comprehensive loss (1,143) 5,393 4,250 Other comprehensive income (loss) (34,014) (254) (34,268) Ending balance $ (127,677) $ — $ (127,677) The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and nine-month periods ended September 30, 2024 and 2023: Amount reclassified out of accumulated other comprehensive loss Affected Line Item in Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Cash flow hedges: Interest-rate contracts $ — $ 2,374 $ — $ 5,393 Net interest expense Available-for-sale securities: Loss on sale of investments — — (7) (1,149) Net loss on sale of securities Tax effect from changes in tax rates 2 2 6 6 Income tax expense $ 2 $ 2,376 $ (1) $ 4,250

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The calculation of earnings per common share for the quarters and nine-month periods ended September 30, 2024 and 2023 is as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands, except per share data) Income available to common shareholders $ 47,000 $ 44,873 $ 147,823 $ 135,275 Average common shares outstanding 46,560 47,114 46,868 47,325 Effect of dilutive securities: Average potential common shares-options 286 278 243 280 Total weighted average common shares outstanding and equivalents $ 46,846 $ 47,392 $ 47,111 $ 47,605 Earnings per common share - basic $ 1.01 $ 0.95 $ 3.15 $ 2.86 Earnings per common share - diluted $ 1.00 $ 0.95 $ 3.14 $ 2.84 For the quarters ended September 30, 2024 and 2023, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to zero and 245, respectively. For the nine-month periods ended September 30, 2024 and 2023, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to 507 and 1,791, respectively. During the first quarter of 2024, OFG increased its quarterly common stock cash dividend to $0.25 per share from $0.22 per share at December 31, 2023.

GUARANTEES

GUARANTEES	9 Months Ended
	Sep. 30, 2024
Guarantees [Abstract]
GUARANTEES	GUARANTEES At September 30, 2024 and December 31, 2023, the notional amount of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $23.9 million and $24.0 million, respectively. OFG has a liability for residential mortgage loans sold subject to credit recourse pursuant to FHLMC’s, GNMA’s, and FNMA’s residential mortgage loan sales and securitization programs. At September 30, 2024 and December 31, 2023, the unpaid principal balance of residential mortgage loans sold subject to credit recourse under the residential mortgage loan sales programs was $92.6 million and $98.7 million, respectively. The estimated losses to be absorbed under the credit recourse arrangements were recorded as a liability when the credit recourse was assumed and are updated on a quarterly basis. At September 30, 2024, OFG's liability for estimated credit losses related to loans sold with credit recourse amounted to $41 thousand (December 31, 2023– $102 thousand). On May 1, 2023, OFG and a third-party servicer terminated a subservicing agreement by mutual agreement. Pursuant to such termination, the third-party servicer assumed the direct servicing of the subserviced loans pursuant to FNMA’s residential mortgage loans sales program, thereby relieving OFG of its corresponding recourse obligation under that program. The following table shows the changes in OFG’s liability for estimated losses from credit recourse agreements, included in the consolidated statements of financial condition during the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Balance at beginning of period $ 59 $ 150 $ 102 $ 147 Net recoveries (charge-offs/terminations) (18) 25 (61) 28 Balance at end of period $ 41 $ 175 $ 41 $ 175 The expected loss, which represents the amount expected to be lost on a given loan, considers the probability of default and loss severity. The probability of default represents the probability that a loan in good standing would become 120 days delinquent, in which case OFG is obligated to repurchase the loan. If a borrower defaults, pursuant to the credit recourse provided, OFG is required to repurchase the loan or reimburse the third-party investor for the incurred loss. The maximum potential amount of future payments that OFG would be required to make under the recourse arrangements is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. During the quarters ended September 30, 2024 and 2023, OFG repurchased $14 thousand and $251 thousand, respectively, in mortgage loans. During the nine-month periods ended September 30, 2024 and 2023, OFG repurchased $254 thousand and $861 thousand, respectively, in such mortgage loans. If a borrower defaults, OFG has rights to the underlying collateral securing the mortgage loan. OFG suffers losses on these mortgage loans when the proceeds from a foreclosure sale of the collateral property are less than the outstanding principal balance of the loan, any uncollected interest advanced, and the costs of holding and disposing the related property. When OFG sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. OFG’s mortgage operations division groups conforming mortgage loans into pools that are exchanged for FNMA and GNMA mortgage-backed securities, which are generally sold to private investors, or are sold directly to FNMA or other private investors for cash. As required under such mortgage-backed securities programs, quality review procedures are performed by OFG to ensure that asset guideline qualifications are met. To the extent the loans do not meet specified characteristics, OFG may be required to repurchase such loans or indemnify for losses and bear any subsequent loss related to the loans. During the quarter ended September 30, 2024, OFG repurchased $1.4 million (September 30, 2023 –$2.5 million) of unpaid principal balance in mortgage loans, excluding mortgage loans subject to such credit recourse provision. During the nine-month period ended September 30, 2024, OFG repurchased $3.3 million (September 30, 2023- $8.9 million). At September 30, 2024 and December 31, 2023, OFG had a $356 thousand and a $405 thousand liability, respectively, for the estimated credit losses related to these loans. During the quarters ended September 30, 2024 and 2023, OFG recognized $18 thousand and $25 thousand in gains, net of reserves, respectively, from the repurchase of residential mortgage loans sold subject to credit recourse, and $222 thousand in losses and $199 thousand in gains, respectively, from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties. During the nine-month periods ended September 30, 2024 and 2023,OFG recognized $60 thousand and $147 thousand, respectively, in gains from the repurchase of residential mortgage loans sold subject to credit recourse, and $145 thousand in losses and $103 thousand in gains, respectively, from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties. At September 30, 2024, OFG serviced $5.6 billion (December 31, 2023 - $5.6 billion) in mortgage loans for third parties, including subserviced mortgage loans. Servicing agreements relating to the mortgage-backed securities programs of FNMA and GNMA, and to mortgage loans sold or serviced to certain other investors, including FHLMC, require OFG to advance funds to make scheduled payments of principal, interest, taxes and insurance, if such payments have not been received from the borrowers. OFG generally recovers funds advanced pursuant to these arrangements from the mortgage owner, from liquidation proceeds when the mortgage loan is foreclosed or, in the case of FHA/VA loans, under the applicable FHA and VA insurance and guarantee programs. However, in the meantime, OFG must absorb the cost of the funds it advances during the time the advance is outstanding. OFG must also bear the costs of attempting to collect on delinquent and defaulted mortgage loans. In addition, if a defaulted loan is not cured, the mortgage loan would be canceled as part of the foreclosure proceedings and OFG would not receive any future servicing income with respect to that loan. At September 30, 2024, the outstanding balance of funds advanced by OFG under such mortgage loan servicing agreements was approximately $4.5 million (December 31, 2023 - $4.2 million). To the extent the mortgage loans underlying OFG’s servicing portfolio experience increased delinquencies, OFG would be required to dedicate additional cash resources to comply with its obligation to advance funds as well as incur additional administrative costs related to increases in collection efforts.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments In the normal course of business, OFG becomes a party to credit-related financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby and commercial letters of credit, and financial guarantees. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated statements of financial condition. The contract or notional amount of those instruments reflects the extent of OFG’s involvement in particular types of financial instruments. OFG’s exposure to credit losses in the event of nonperformance by the counterparty to the financial instrument for commitments to extend credit, including commitments under credit card arrangements, and commercial letters of credit is represented by the contractual notional amounts of those instruments, which do not necessarily represent the amounts potentially subject to risk. In addition, the measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are identified. OFG uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Credit-related financial instruments at September 30, 2024 and December 31, 2023 were as follows: September 30, 2024 December 31, 2023 (In thousands) Commitments to extend credit $ 1,397,592 $ 1,255,695 Commercial letters of credit 817 119 Commitments to extend credit represent agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. OFG evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by OFG upon the extension of credit, is based on management’s credit evaluation of the counterparty. At September 30, 2024 and December 31, 2023, commitments to extend credit consisted mainly of undisbursed available amounts on commercial lines of credit, construction loans, and revolving credit card arrangements. Since many of the unused commitments are expected to expire unused or be only partially used, the total amount of these unused commitments does not necessarily represent future cash requirements. Commercial letters of credit are issued or confirmed to guarantee payment of customers’ payables or receivables in short-term international trade transactions. Generally, drafts will be drawn when the underlying transaction is consummated as intended. However, the short-term nature of this instrument serves to mitigate the risk associated with these contracts. The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor’s accounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at September 30, 2024 and December 31, 2023, is as follows: September 30, 2024 December 31, 2023 (In thousands) Standby letters of credit and financial guarantees $ 23,885 $ 23,970 Loans sold with recourse 92,559 98,685 Standby letters of credit and financial guarantees are written conditional commitments issued by OFG to guarantee the payment and/or performance of a customer to a third party (“beneficiary”). If the customer fails to comply with the agreement, the beneficiary may draw on the standby letter of credit or financial guarantee as a remedy. The amount of credit risk involved in issuing letters of credit in the event of non-performance is the face amount of the letter of credit or financial guarantee. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The amount of collateral obtained, if it is deemed necessary by OFG upon extension of credit, is based on management’s credit evaluation of the customer. At September 30, 2024 and December 31, 2023, the ACL for off-balance sheet credit exposures corresponding to commitments to extend credit and standby letters of credit amounted to $876 thousand and $1.2 million, respectively, and is included in other liabilities in the statement of financial condition. At September 30, 2024 and December 31, 2023, OFG maintained other non-credit commitments amounting to $17.4 million and $18.9 million, respectively, primarily for the acquisition of equity securities. In addition, as we continue to transform OFG with a focus on simplification and building a culture of excellence and customer service, we continue to invest in technology that drive our strategy, namely digital, data analytics, cloud migration, cyber security, and our sales and service capabilities. At September 30, 2024 and December 31, 2023, OFG had commitments for capital expenditures in technology amounting to $1.0 million and $7.8 million, respectively. Contingencies OFG and its subsidiaries are defendants in a number of legal proceedings incidental to their business. In the ordinary course of business, OFG and its subsidiaries are also subject to governmental and regulatory examinations. Certain subsidiaries of OFG, including the Bank (and its subsidiary, OIB), Oriental Financial Services and Oriental Insurance, are subject to regulation by various U.S., Puerto Rico and other regulators. OFG seeks to resolve all arbitration, litigation and regulatory matters in the manner management believes is in the best interests of OFG and its shareholders, and contests allegations of liability or wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. In accordance with applicable accounting guidance, OFG establishes an accrued liability when those matters present loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. As a matter develops, OFG, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and estimable. Once the loss contingency is deemed to be both probable and estimable, OFG will establish an accrued liability and record a corresponding amount of expense. At September 30, 2024 and December 31, 2023, accrued liability for legal contingencies amounted to $522 thousand and $817 thousand, respectively. OFG continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. OFG also has an accrued liability for potential losses, operational errors, loss on theft not covered by insurance premiums, uncollectible receivables, among other transactions, amounting to $152 thousand and $1.4 million, respectively, as of September 30, 2024 and December 31, 2023. Subject to the accounting and disclosure framework under the provisions of ASC 450, it is the opinion of OFG’s management, based on current knowledge and after taking into account its current legal accruals, that the eventual outcome of all matters would not be likely to have a material adverse effect on the consolidated statements of financial condition of OFG. Nonetheless, given the substantial or indeterminate amounts sought in certain of these matters, and the inherent unpredictability of such matters, an adverse outcome in certain of these matters could, from time to time, have a material adverse effect on OFG’s consolidated results of operations or cash flows in particular quarterly or annual periods. OFG has evaluated all arbitration, litigation and regulatory matters where the likelihood of a potential loss is deemed reasonably possible. OFG has determined that the estimate of the reasonably possible loss is not significant.

OPERATING LEASES

OPERATING LEASES	9 Months Ended
	Sep. 30, 2024
Lessee Disclosure [Abstract]
OPERATING LEASES	OPERATING LEASES Substantially all leases in which OFG is the lessee are comprised of real estate property for branches, ATM locations, and office space with terms extending through 2038. OFG’s leases do not contain residual value guarantees or material variable lease payments. All leases are classified as operating leases and are included on the consolidated statements of financial condition as a right-of-use asset and a corresponding lease liability. OFG leases to others certain space in its principal offices for terms extending through 2026 with two additional extension through to 2030; all are operating leases. Operating Lease Cost Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 Statement of Operations (In thousands) Lease costs $ 2,324 $ 5,130 $ 7,238 $ 7,738 Occupancy and equipment Variable lease costs 465 674 1,246 1,021 Occupancy and equipment Short-term lease costs 123 335 264 483 Occupancy and equipment Lease income (13) (62) (64) (79) Occupancy and equipment Total lease costs $ 2,899 $ 6,077 $ 8,684 $ 9,163 Operating Lease Assets and Liabilities September 30, 2024 December 31, 2023 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 20,355 $ 21,725 Operating lease right-of-use assets Lease Liabilities $ 22,604 $ 24,029 Operating leases liabilities September 30, 2024 December 31, 2023 (In thousands) Weighted-average remaining lease term 4.9 years 5.1 years Weighted-average discount rate 7.6 % 7.0 % Future minimum payments for operating leases with initial or remaining terms of one year or more as of September 30, 2024 were as follows: Minimum Rent As of September 30, 2024 (In thousands) 2024 $ 2,152 2025 7,232 2026 5,063 2027 4,146 2028 3,239 Thereafter 5,382 Total lease payments $ 27,214 Less imputed interest 4,610 Present value of lease liabilities $ 22,604 OFG, as lessor, leases and subleases real property to tenants under operating leases. As of September 30, 2024, no material lease concessions have been granted to tenants. As of September 30, 2024, OFG, as lessee, has not requested any lease concessions.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS OFG follows the fair value measurement framework under GAAP. Fair Value Measurement The fair value measurement framework defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This framework also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Money market investments The fair value of money market investments is based on the carrying amounts reflected in the consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of the instruments. Investment securities The fair value of investment securities is based on valuations obtained from an independent pricing provider, ICE Data Pricing (formerly known as IDC) (“ICE”). ICE is a well-recognized pricing company and an established leader in financial information. Such securities are classified as Level 1 or Level 2, depending on the basis for determining fair value. At September 30, 2024, there was one security held-to-maturity, carried at amortized cost with no ACL established, classified as Level 3. Servicing assets Servicing assets do not trade in an active market with readily observable prices. Servicing assets are priced using a discounted cash flow model. The valuation model considers servicing fees, portfolio characteristics, prepayment assumptions, delinquency rates, late charges, other ancillary revenues, cost to service, and other economic factors. Due to the unobservable nature of certain valuation inputs, the servicing rights are classified as Level 3. Foreclosed real estate Foreclosed real estate includes real estate properties securing residential mortgage and commercial loans. The fair value of foreclosed real estate may be determined using an external appraisal, broker price opinion or an internal valuation. These foreclosed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals. Other repossessed assets Other repossessed assets are mainly composed of repossessed automobiles. The fair value of the repossessed automobiles may be determined using internal valuation and an external appraisal. These repossessed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals. Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below: September 30, 2024 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 1,136 $ 2,228,966 $ — $ 2,230,102 Trading securities — 18 — 18 Money market investments 5,885 — — 5,885 Servicing assets — — 68,512 68,512 $ 7,021 $ 2,228,984 $ 68,512 $ 2,304,517 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 8,583 $ 8,583 Foreclosed real estate — — 4,419 4,419 Other repossessed assets — — 6,969 6,969 Mortgage loans held for sale — — 10,908 10,908 Other loans held for sale — — 4,716 4,716 $ — $ — $ 35,595 $ 35,595 December 31, 2023 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 296,799 $ 1,802,465 $ — $ 2,099,264 Trading securities — 13 — 13 Money market investments 4,623 — — 4,623 Servicing assets — — 49,520 49,520 $ 301,422 $ 1,802,478 $ 49,520 $ 2,153,420 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 8,027 $ 8,027 Foreclosed real estate — — 10,780 10,780 Other repossessed assets — — 4,032 4,032 Other loans held for sale $ — $ — $ 28,345 28,345 $ — $ — $ 51,184 $ 51,184 The fair value information included in the tables above for non-recurring fair value measurements is not as of period-end. Instead, it is as of the date that the fair value measurement was recorded closest to September 30, 2024 and December 31, 2023 and excludes nonrecurring fair value measurements of assets no longer outstanding as of the reporting date. The tables below present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and nine-month periods ended September 30, 2024 and 2023: Level 3 Instruments Only Quarter Ended September 30, 2024 2023 Servicing Assets Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning period $ 49,789 $ 413 $ 49,966 $ 50,379 New instruments acquired 21,923 — 453 453 Principal repayments and amortization (1,108) — (1,060) (1,060) Instrument converted to equity security — (413) — (413) Gains (losses) included in earnings (2,092) — 1,242 1,242 Balance at end of period $ 68,512 $ — $ 50,601 $ 50,601 Nine-Month Period Ended September 30, 2024 2023 Servicing Assets Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning of period $ 49,520 $ 406 $ 50,921 $ 51,327 New instruments acquired 22,753 — 1,818 1,818 Principal repayments and amortization (2,759) — (3,210) (3,210) Instrument converted to equity security — (406) — (406) Gains (losses) included in earnings (1,002) — 1,072 1,072 Balance at end of period $ 68,512 $ — $ 50,601 $ 50,601 Servicing assets gains (losses) included in earnings during the quarters and nine-month periods ended September 30, 2024 and 2023 were included as mortgage servicing activities in the consolidated statements of operations. For more information on the qualitative information about Level 3 fair value measurements, see Note 7 – Servicing Assets. There were no liabilities measured at fair value on a recurring basis and non-recurring basis at September 30, 2024 and December 31, 2023. The table below presents quantitative information for all assets measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at September 30, 2024 and December 31, 2023: September 30, 2024 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 68,512 Cash flow valuation Constant prepayment rate 0.85% - 13.30% 6.25 % Discount rate 10.00% - 15.50% 11.61 % Collateral dependent loans $ 8,583 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.04 % Foreclosed real estate $ 4,419 Fair value of property Appraised value less disposition costs 10.00% - 33.00% 11.10 % Other repossessed assets $ 6,969 Fair value of property Estimated net realizable value less disposition costs 37.00% - 71.00% 56.32 % Mortgage loans held for sale $ 10,908 Market prices Pricing and execution whole loan 94.06% - 102.10% 98.56 % Other loans held for sale $ 4,716 Bids or sales contract prices Estimated market value 99.75% - 101.21% 101.12 % December 31, 2023 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 49,520 Cash flow valuation Constant prepayment rate 1.35% - 17.34% 6.12 % Discount rate 10.00% - 15.50% 11.45 % Collateral dependent loans $ 8,027 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.00 % Foreclosed real estate $ 10,780 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 12.67 % Other repossessed assets $ 4,032 Fair value of property Estimated net realizable value less disposition costs 31.00% - 77.00% 57.72 % Other loans held for sale $ 28,345 Bids or sales contract prices Estimated market value 52.00% - 103.20% 84.80% Information about Sensitivity to Changes in Significant Unobservable Inputs Servicing assets – The significant unobservable inputs used in the fair value measurement of OFG’s servicing assets are constant prepayment rates and discount rates. Changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflecting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. Fair Value of Financial Instruments The information about the estimated fair value of financial instruments required by GAAP is presented hereunder. The aggregate fair value amounts presented do not necessarily represent management’s estimate of the underlying value of OFG. The estimated fair value is subjective in nature, involves uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could affect these fair value estimates. The fair value estimates do not take into consideration the value of future business and the value of assets and liabilities that are not financial instruments. Other significant tangible and intangible assets that are not considered financial instruments include the value of long-term customer relationships of retail deposits, and premises and equipment. The estimated fair value and carrying value of OFG’s financial instruments at September 30, 2024 and December 31, 2023 was as follows: September 30, 2024 December 31, 2023 Fair Carrying Fair Carrying (In thousands) Financial Assets: Level 1 Cash and cash equivalents $ 680,587 $ 680,587 $ 748,173 $ 748,173 Investment securities available-for-sale $ 1,136 $ 1,136 $ 296,799 $ 296,799 Level 2 Financial Assets: Trading securities $ 18 $ 18 $ 13 $ 13 Investment securities available-for-sale $ 2,228,966 $ 2,228,966 $ 1,802,465 $ 1,802,465 Investment securities held-to-maturity $ 249,198 $ 297,713 $ 455,709 $ 514,024 Federal Home Loan Bank (FHLB) stock $ 18,430 $ 18,430 $ 14,488 $ 14,488 Equity securities $ 27,262 $ 27,262 $ 23,981 $ 23,981 Level 3 Financial Assets: Investment securities held-to-maturity $ 35,051 $ 35,000 $ 35,055 $ 35,000 Total loans (including loans held-for-sale) $ 7,516,112 $ 7,604,700 $ 7,282,214 $ 7,401,618 Accrued interest receivable $ 70,367 $ 70,367 $ 71,400 $ 71,400 Servicing assets $ 68,512 $ 68,512 $ 49,520 $ 49,520 Accounts receivable and other assets $ 62,052 $ 62,052 $ 47,859 $ 47,589 Financial Liabilities: Deposits $ 9,651,703 $ 9,608,652 $ 9,767,068 $ 9,762,169 Advances from FHLB $ 270,045 $ 270,827 $ 199,184 $ 200,768 Other borrowings $ — $ — $ 2 $ 2 Accrued expenses and other liabilities $ 157,609 $ 157,609 $ 115,985 $ 115,985 The following methods and assumptions were used to estimate the fair values of significant financial instruments at September 30, 2024 and December 31, 2023: • Cash and cash equivalents (including money market investments and time deposits with other banks), accrued interest receivable, accounts receivable and other assets, accrued expenses and other liabilities, and other borrowings have been valued at the carrying amounts reflected in the consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of the instruments. • Investments in FHLB stock are valued at their redemption value. • The fair value of investment securities, including trading securities, is based on quoted market prices, when available, or prices provided by contracted pricing providers or by recognized broker-dealers. If listed prices or quotes are not available, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument. The estimated fair value of the AFICA bond in other debt securities held-to-maturity is determined by using a detailed discounted cash flow valuation model to calculate the present value of projected future cash flows. The credit losses are recorded using the ACL methodology. This involves comparing the amortized cost of the securities with the fair value of the expected future cash flows. Several assumptions requiring a high degree of judgment include the selection of market discount rates, the determination of current credit spread, and the estimation of both the probability of default and loss given default rates. Equity securities do not have readily available fair values and are measured at cost, less any impairment. • The fair value of servicing asset is estimated by using a cash flow valuation model, which calculates the present value of estimated future net servicing cash flows, taking into consideration actual and expected loan prepayment rates, discount rates, servicing costs, and other economic factors, which are determined based on current market conditions. • The fair value of the loan portfolio (including loans held-for-sale and non-performing loans) is based on the exit market price, which is estimated by segregating by loan type, such as mortgage, commercial, consumer and auto. The fair value is calculated by discounting contractual cash flows. The discount rate used in such calculation considers a capital adjustment as well as other premiums for systemic risk, servicing costs, modeling and uncertainty risk, and impairment uncertainty. • The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is based on the discounted value of the contractual cash flows, using estimated current market discount rates for deposits of similar remaining maturities. • The fair value of advances from FHLB is based on the discounted value of the contractual cash flows using current estimated market discount rates for borrowings with similar terms, remaining maturities and put dates.

BANKING AND FINANCIAL SERVICE R

BANKING AND FINANCIAL SERVICE REVENUES	9 Months Ended
	Sep. 30, 2024
Banking and Thrift, Interest [Abstract]
BANKING AND FINANCIAL SERVICE REVENUES	BANKING AND FINANCIAL SERVICE REVENUES The following table presents the major categories of banking and financial service revenues for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Banking service revenues: Electronic banking fees $ 12,062 $ 13,447 $ 40,469 $ 40,416 Checking accounts fees 1,983 2,233 6,043 6,638 Savings accounts fees 317 333 932 993 Credit life commissions 93 90 170 314 Branch service commissions 281 352 903 1,098 Servicing and other loan fees 619 668 2,512 2,251 International fees 194 174 549 536 Miscellaneous income 5 6 16 10 Total banking service revenues $ 15,554 $ 17,303 $ 51,594 $ 52,256 Wealth management revenue: Insurance income $ 3,979 $ 3,607 $ 11,968 $ 11,146 Broker fees 2,289 1,945 6,388 5,525 Trust fees 2,181 2,139 6,640 6,298 Other fees — — — 36 Total wealth management revenue $ 8,449 $ 7,691 $ 24,996 $ 23,005 Mortgage banking activities: Net servicing fees $ 1,852 $ 4,764 $ 9,904 $ 12,256 Net gains on sale of mortgage loans and valuation 611 450 1,983 2,009 Net gain (loss) on repurchased loans and other (195) 196 (62) 268 Total mortgage banking activities $ 2,268 $ 5,410 $ 11,825 $ 14,533 Total banking and financial service revenues $ 26,271 $ 30,404 $ 88,415 $ 89,794 OFG recognizes the revenue from banking services, wealth management and mortgage banking based on the nature and timing of revenue streams from contracts with customers: Banking Service Revenues Electronic banking fees are credit and debit card processing services, fees for using the Bank’s ATMs by non-customers, debit card interchange income, and service charges on deposit accounts. Revenue is recorded once the contracted service has been provided. During the quarter ended September 30, 2024, the Durbin Amendment became applicable to the Bank as a result of crossing the $10 billion asset threshold in December 31, 2023, which imposes limits on what banks may charge for debit card interchange fees. Service charges on checking and saving accounts is recognized as consumer periodic maintenance revenue once the service is rendered, while overdraft and late charges revenues are recorded after the contracted service has been provided. Other income as credit life and branch service commissions, servicing and other loan fees, international fees, and miscellaneous income recognized as banking services revenue are out of the scope of ASC 606 – Revenue from Contracts with Customers. Wealth Management Revenue Insurance income from commissions generated in the sale of insurance policies issued by unaffiliated insurance companies and sale of annuities are recorded once the sale has been completed. Reinsurance revenue is recorded based on earned premium confirmed by the fronting insurance company. Contingent insurance commissions are recorded once the paying insurance companies confirm the amounts earned. Broker fees consist of two categories: • Sales commissions generated by advisers for their clients’ purchases and sales of securities and other investment products, which are collected once the stand-alone transactions are completed at trade date or as earned, and managed account fees which are fees charged to advisers’ clients’ accounts on OFG’s corporate advisory platform. These revenues do not cover future services, as a result there is no need to allocate the amount received to any other service. • Fees for providing distribution services related to mutual funds, net of compensation paid to a provider of such services, as well as trailer fees (also known as 12b-1 fees). These fees are considered variable and are recognized over time, as the uncertainty of the fees to be received is resolved as the net asset value of the mutual fund is determined and investor activity occurs. Fees do not cover future services, as a result there is no need to allocate the amount received to any other service. Trust fees are revenues related to fiduciary services provided to 401K retirement plans, IRA trusts, and retirement plans. These generally include payment for trustee services, distribution services, custodial services of plan assets, due diligence services, and investment advisory services. Fees are billed based on services contracted. Negotiated fees are detailed in the contract. Fees collected in advance are amortized over the term of the contract. Fees are generally collected on an annual or quarterly basis once the administrative service has been completed. Fees do not include future services. Mortgage Banking Activities Mortgage banking activities such as servicing fees and valuation of servicing asset, gain on sale of mortgage loans, and gain (loss) on repurchased loans and other are out of the scope of ASC 606.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS OFG segregates its businesses into the following segments of business: Banking, Wealth Management, and Treasury. Management established the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. Other factors such as OFG’s organization, nature of its products, distribution channels and economic characteristics of the products were also considered in the determination of the reportable segments. OFG measures the performance of these segments based on pre-established goals of different financial parameters such as net income, net interest income, loan production, and fees generated. OFG’s methodology for allocating non-interest expenses among segments is based on several factors such as revenue, employee headcount, occupied space, dedicated services or time, among others. These factors are reviewed on a periodic basis and may change if the conditions warrant. Banking includes the Bank’s branches and traditional banking products such as deposits and commercial, consumer, auto, and mortgage loans. Mortgage banking activities are carried out by the Bank’s mortgage banking division, whose principal activity is to originate mortgage loans for OFG’s own portfolio. As part of its mortgage banking activities, OFG may sell loans directly into the secondary market or securitize conforming loans into mortgage-backed securities. Wealth Management is comprised of the Bank’s trust division, Oriental Financial Services, Oriental Insurance, and OFG Reinsurance. The core operations of this segment are financial planning, securities brokerage services, investment advisory services, insurance, corporate and individual trust and retirement services. The Treasury segment encompasses all of OFG’s asset/liability management activities, such as purchases and sales of investment securities, interest rate risk management, and borrowings. Intersegment sales and transfers, if any, are accounted for as if the sales or transfers were to third parties, that is, at current market prices. Following are the results of operations and the selected financial information by operating segment for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, 2024 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 155,922 $ 6 $ 34,145 $ 190,073 $ (1,043) $ 189,030 Interest expense (37,990) — (4,208) (42,198) 1,043 (41,155) Net interest income 117,932 6 29,937 147,875 — 147,875 Provision for (recapture of) credit losses 21,427 — (68) 21,359 — 21,359 Non-interest income 19,117 7,750 1 26,868 — 26,868 Non-interest expenses (86,753) (4,016) (831) (91,600) — (91,600) Intersegment revenue 387 — — 387 (387) — Intersegment expenses — (224) (163) (387) 387 — Income before income taxes 29,256 3,516 29,012 61,784 — $ 61,784 Income tax expense 14,742 2 40 14,784 — 14,784 Net income $ 14,514 $ 3,514 $ 28,972 $ 47,000 $ — $ 47,000 Total assets $ 9,549,261 $ 36,779 $ 3,151,462 $ 12,737,502 $ (1,276,120) $ 11,461,382 Nine-Month Period Ended September 30, 2024 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 462,598 $ 19 $ 100,571 $ 563,188 $ (3,074) $ 560,114 Interest expense (111,493) — (12,393) (123,886) 3,074 (120,812) Net interest income 351,105 19 88,178 439,302 — 439,302 Provision for (recapture of) credit losses 52,241 — (180) 52,061 — 52,061 Non-interest income, net 66,905 22,779 8 89,692 — 89,692 Non-interest expenses (260,249) (13,161) (2,562) (275,972) — (275,972) Intersegment revenue 1,226 — — 1,226 (1,226) — Intersegment expenses — (734) (492) (1,226) 1,226 — Income before income taxes $ 106,746 $ 8,903 $ 85,312 $ 200,961 $ — $ 200,961 Income tax expense 53,004 10 124 53,138 — 53,138 Net income $ 53,742 $ 8,893 $ 85,188 $ 147,823 $ — $ 147,823 Total assets $ 9,549,261 $ 36,779 $ 3,151,462 $ 12,737,502 $ (1,276,120) $ 11,461,382 Eliminations include interest income and expense for a time deposit opened by the Bank in Oriental Overseas, an international banking entity organized and licensed under Puerto Rico law, which operates as a unit within the Bank. The time deposit with a balance of $277.4 million and $308.9 million at September 30, 2024 and 2023, respectively, to fund Oriental Overseas operations is included in the Treasury Segment with its corresponding interest expense, and the related interest income is included in the Banking Segment, and are eliminated in the consolidation. Interest income is accrued on the unpaid principal balance. The decrease in interest income and interest expense from the prior year period was mainly as a result of lower interest rate and average balance. Quarter Ended September 30, 2023 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 145,667 $ 8 $ 23,905 $ 169,580 $ (3,872) $ 165,708 Interest expense (20,662) — (7,131) (27,793) 3,872 (23,921) Net interest income 125,005 8 16,774 141,787 — 141,787 Provision for credit losses 16,371 — 59 16,430 — 16,430 Non-interest income 23,211 7,487 1 30,699 — 30,699 Non-interest expenses (85,536) (3,778) (844) (90,158) — (90,158) Intersegment revenue 487 — — 487 (487) — Intersegment expenses — (337) (150) (487) 487 — Income before income taxes 46,796 3,380 15,722 65,898 — 65,898 Income tax expense 20,994 (4) 35 21,025 — 21,025 Net income $ 25,802 $ 3,384 $ 15,687 $ 44,873 $ — $ 44,873 Total assets $ 8,742,283 $ 34,380 $ 2,523,536 $ 11,300,199 $ (1,043,061) $ 10,257,138 Nine-Month Period Ended September 30, 2023 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 418,091 $ 19 $ 67,872 $ 485,982 $ (13,301) $ 472,681 Interest expense $ (48,867) $ — $ (19,787) $ (68,654) $ 13,301 $ (55,353) Net interest income $ 369,224 $ 19 $ 48,085 $ 417,328 $ — $ 417,328 Provision for credit losses $ 40,828 $ — $ 91 $ 40,919 $ — $ 40,919 Non-interest income, net $ 68,190 $ 22,631 $ (1,148) $ 89,673 $ — $ 89,673 Non-interest expenses $ (254,777) $ (11,871) $ (2,618) $ (269,266) $ — $ (269,266) Intersegment revenue $ 1,610 $ — $ — $ 1,610 $ (1,610) $ — Intersegment expenses $ — $ (1,096) $ (514) $ (1,610) $ 1,610 $ — Income before income taxes $ 143,419 $ 9,683 $ 43,714 $ 196,816 $ — $ 196,816 Income tax expense $ 61,463 $ 16 $ 62 $ 61,541 $ — $ 61,541 Net income $ 81,956 $ 9,667 $ 43,652 $ 135,275 $ — $ 135,275 Total assets $ 8,742,283 $ 34,380 $ 2,523,536 $ 11,300,199 $ (1,043,061) $ 10,257,138

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In October 25, 2024, as part of OFG's capital actions, the Board of Directors approved a new $50.0 million stock repurchase program. This new, open-ended program is in addition to the previous stock repurchase program approved by the Board of Directors in January 2024 of $50.0 million.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations OFG is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. OFG operates through various subsidiaries, including a commercial bank, Oriental Bank (the “Bank”), a securities broker-dealer and investment adviser, Oriental Financial Services LLC (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), a captive reinsurance company, OFG Reinsurance Ltd (“OFG Reinsurance”), and OFG Ventures LLC (“OFG Ventures”), which holds equity investments. Through these subsidiaries and their respective divisions, OFG provides a wide range of banking and financial services such as commercial, consumer, auto, and mortgage lending, financial planning, insurance sales, investment advisory, and securities brokerage services, as well as corporate and individual trust services. The Bank has a wholly-owned operating subsidiary, OFG USA LLC (“OFG USA”), which is a commercial lender organized in Delaware. In addition, Oriental International Bank Inc. (“OIB”), a wholly-owned subsidiary of the Bank, and Oriental Overseas, a division of the Bank, are international banking entities licensed pursuant to the International Banking Center Regulatory Act of Puerto Rico, as amended. OIB and Oriental Overseas offer the Bank certain Puerto Rico tax advantages. Their activities are limited under Puerto Rico law to assets/liabilities located outside of Puerto Rico. In March 2024, the Bank organized OBPEF LLC (“OBPEF”), as a wholly-owned subsidiary of the Bank and a private equity fund under the Puerto Rico Incentives Code, as amended, whose objective is to provide financing to eligible borrowers, whether in the form of senior or subordinated debt, to support the economic development of Puerto Rico. Basis of Presentation The accompanying unaudited consolidated financial statements of OFG have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission (“SEC”). Accordingly, these consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
New Accounting Updates Not Yet Adopted	New Accounting Updates Not Yet Adopted Codification Improvements—Amendments to Remove References to the Concepts Statements. In March 2024, the Financial Accounting Standards Board (“FASB”) issued ASU 2024-02, which removes various references to concept statements from the FASB Accounting Standards Codification. The ASU intends to simplify the Accounting Standards Codification and distinguish between non-authoritative and authoritative guidance. For public business entities, the amendments will be effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. The amendments can be applied prospectively or retrospectively. We will adopt this guidance when it becomes effective in the first quarter of 2025 on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. Compensation—Stock Compensation. In March 2024, the FASB issued ASU 2024-01 to improve GAAP by adding an illustrative example to demonstrate how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether profits interest and similar awards should be accounted for in accordance with Topic 718. The ASU 2024-01 is intended to reduce complexity and diversity in practice. For public business entities, the amendments will be effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted. We will adopt this guidance when it becomes effective in the first quarter of 2025 on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. Segment Reporting—Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued ASU 2023-07 to enhance segment reporting by expanding the breadth and frequency of segment disclosures required for public entities. The amendments in this ASU will allow registrants to disclose multiple measures of segment profit or loss and it also clarifies that single reportable segment entities must apply Topic 280 in its entirety. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We will adopt this guidance when it becomes effective in the annual period of 2024 on a retrospective basis to all periods presented in the financial statements, and the impact on our financial statements and disclosures is not expected to be material. Income Taxes—Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09 to enhance income tax disclosures and requests for more information about the tax risks and opportunities present in an entity’s worldwide operations. The ASU’s two primary enhancements will require further disaggregation for existing disclosures for the effective tax rate reconciliation and income taxes paid. More specifically, the amendments will require entities to disclose: a tabular effective tax rate reconciliation, broken out into specific categories with certain reconciling items above a 5% threshold further broken out by nature and jurisdiction; and income taxes paid (net of refunds received), broken out between federal, state and foreign, and net amounts paid to an individual jurisdiction that exceed 5% of the total. The amendments in this update are effective for annual periods beginning after December 15, 2024. Entities are permitted to early adopt these amendments. The amendments should be applied prospectively, but retrospective application is permitted. We will adopt this guidance when it becomes effective in the annual period of 2025 on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. The Enhancement and Standardization of Climate-Related Disclosures for Investors. On March 6, 2024, the SEC issued a final rule under SEC Release No. 33-11275 that requires registrants to provide climate disclosures in their annual reports and registration statements. The rule includes disclosure concerning the use of carbon offsets or renewable energy credits or certificates if their use is a material component of the registrant’s plans to achieve its disclosed climate-related targets or goals, and certain disclosures about Scope 1 and/or Scope 2 greenhouse gas (“GHG”) emissions, if material. It also requires disclosures of amounts related to the effects of severe weather events and other natural conditions. The disclosure requirements will apply to OFG’s fiscal year beginning January 1, 2025. We will adopt this rule when it becomes effective. OFG is currently evaluating the final rule and its impact on our financial statements and disclosures.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	The amortized cost, gross unrealized gains and losses, fair value, weighted average yield and contractual maturities of the securities owned by OFG at September 30, 2024 and December 31, 2023 were as follows: September 30, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates Due from 1 to 5 years $ 13,748 $ — $ 427 $ 13,321 2.08 % Due from 5 to 10 years 28,114 — 1,321 26,793 1.91 % Due after 10 years 1,774,062 23,652 38,846 1,758,868 4.42 % Total FNMA and FHLMC certificates 1,815,924 23,652 40,594 1,798,982 4.36 % GNMA certificates Due from 1 to 5 years 7,131 — 195 6,936 1.73 % Due from 5 to 10 years 12,344 14 515 11,843 2.25 % Due after 10 years 423,810 9,220 28,906 404,124 3.61 % Total GNMA certificates 443,285 9,234 29,616 422,903 3.54 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 5,901 — 151 5,750 1.78 % Due after 10 years 769 — 5 764 5.06 % Total CMOs issued by US government-sponsored agencies 6,670 — 156 6,514 2.16 % Total mortgage-backed securities 2,265,879 32,886 70,366 2,228,399 4.19 % Investment securities US Treasury securities Due less than 1 year 1,135 1 — 1,136 4.88 % Other debt securities Due less than 1 year 500 — — 500 3.25 % Due from 1 to 5 years 68 — 1 67 2.97 % Total other debt securities 568 — 1 567 3.22 % Total investment securities 1,703 1 1 1,703 4.32 % Total securities available for sale $ 2,267,582 $ 32,887 $ 70,367 $ 2,230,102 4.19 % September 30, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates Due after 10 years $ 297,713 $ — $ 48,515 $ 249,198 1.73 % Investment securities Other debt securities Due from 1 to 5 years 35,000 51 — 35,051 6.20 % Total securities held to maturity $ 332,713 $ 51 $ 48,515 $ 284,249 2.20 % December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates Due from 1 to 5 years $ 6,972 — $ 311 $ 6,661 1.76 % Due from 5 to 10 years 45,835 — 2,767 43,068 2.00 % Due after 10 years 1,411,327 8,989 54,100 1,366,216 4.11 % Total FNMA and FHLMC certificates 1,464,134 8,989 57,178 1,415,945 4.03 % GNMA certificates Due less than 1 year 5 — — 5 1.31 % Due from 1 to 5 years 8,851 — 351 8,500 1.71 % Due from 5 to 10 years 17,113 16 955 16,174 2.19 % Due after 10 years 380,306 4,419 33,110 351,615 3.38 % Total GNMA certificates 406,275 4,435 34,416 376,294 3.30 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 9,071 — 364 8,707 1.78 % Due from 5 to 10 years 54 — — 54 2.14 % Due after 10 years 861 — 12 849 5.07 % Total CMOs issued by US government-sponsored agencies 9,986 — 376 9,610 2.06 % Total mortgage-backed securities 1,880,395 13,424 91,970 1,801,849 3.86 % Investment securities US Treasury securities due less than 1 year 296,747 52 — 296,799 5.40 % Other debt securities Due less than 1 year 500 — — 500 3.25 % Due from 1 to 5 years 119 — 3 116 2.97 % Total other debt securities 619 — 3 616 3.20 % Total investment securities 297,366 52 3 297,415 5.39 % Total securities available for sale $ 2,177,761 $ 13,476 $ 91,973 $ 2,099,264 4.07 % December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates Due after 10 years $ 314,710 $ — $ 56,767 $ 257,943 1.72 % Investment securities US Treasury securities Due less than 1 year 199,314 — 1,548 197,766 3.33 % Other debt securities Due from 1 to 5 years 35,000 55 — 35,055 6.36 % Total securities held to maturity $ 549,024 $ 55 $ 58,315 $ 490,764 2.60 %
Schedule of Gross Realized Gains and Losses by Category	Nine-Month Period Ended September 30, 2024 Description Sale Price Book Value at Sale Gross Gains Gross Losses (In thousands) Sale of investment securities available-for-sale Investment securities US Treasury securities $ 149,406 $ 149,413 $ — $ 7 Nine-Month Period Ended September 30, 2023 Description Sale Price Book Value at Sale Gross Gains Gross Losses (In thousands) Sale of investment securities available-for-sale Investment securities US Treasury securities $ 202,133 $ 203,282 $ — $ 1,149
Schedule of Unrealized Gains and Losses by Category	The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale at September 30, 2024 and December 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: September 30, 2024 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 663,730 $ 40,594 $ 623,136 GNMA certificates 245,156 29,616 215,540 CMOs issued by US Government-sponsored agencies 6,670 156 6,514 Other debt securities 68 1 67 $ 915,624 $ 70,367 $ 845,257 There were no investment securities available-for-sale at September 30, 2024 with unrealized losses under 12 months. December 31, 2023 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 731,334 $ 56,847 $ 674,487 GNMA certificates 275,669 34,364 241,305 CMOs issued by US Government-sponsored agencies 9,986 376 9,610 Other debt securities 119 3 116 $ 1,017,108 $ 91,590 $ 925,518 December 31, 2023 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 106,235 $ 331 $ 105,904 GNMA certificates 7,864 52 7,812 $ 114,099 $ 383 $ 113,716 December 31, 2023 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 837,569 $ 57,178 $ 780,391 GNMA certificates 283,533 34,416 249,117 CMOs issued by US Government-sponsored agencies 9,986 376 9,610 Other debt securities 119 3 116 $ 1,131,207 $ 91,973 $ 1,039,234

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of Loan Portfolio	The composition of the amortized cost basis of OFG’s loan portfolio at September 30, 2024 and December 31, 2023 was as follows: September 30, 2024 December 31, 2023 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial PR: Commercial secured by real estate $ 1,181,022 $ 107,047 $ 1,288,069 $ 1,095,207 $ 120,988 $ 1,216,195 Other commercial and industrial 1,137,942 11,982 1,149,924 1,091,021 14,459 1,105,480 2,318,964 119,029 2,437,993 2,186,228 135,447 2,321,675 Commercial US 680,388 — 680,388 755,228 — 755,228 Total commercial loans 2,999,352 119,029 3,118,381 2,941,456 135,447 3,076,903 Mortgage loans 619,121 864,491 1,483,612 629,247 933,362 1,562,609 Consumer loans: Personal loans 615,566 251 615,817 568,358 264 568,622 Credit lines 10,477 309 10,786 10,926 288 11,214 Credit cards 37,298 — 37,298 40,314 — 40,314 Overdraft 407 — 407 296 — 296 663,748 560 664,308 619,894 552 620,446 Auto loans 2,483,611 664 2,484,275 2,272,530 1,891 2,274,421 6,765,832 984,744 7,750,576 6,463,127 1,071,252 7,534,379 Allowance for credit losses (155,133) (6,367) (161,500) (152,610) (8,496) (161,106) Total loans held for investment, net 6,610,699 978,377 7,589,076 6,310,517 1,062,756 7,373,273 Mortgage loans held-for-sale 10,908 — 10,908 — — — Other loans held-for-sale 4,716 — 4,716 28,345 — 28,345 Total loans held-for-sale 15,624 — 15,624 28,345 — 28,345 Total loans, net $ 6,626,323 $ 978,377 $ 7,604,700 $ 6,338,862 $ 1,062,756 $ 7,401,618
Schedule of Aging of Recorded Investment in Gross Loans	September 30, 2024 30-59 Days 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial PR: Commercial secured by real estate $ 1,457 $ — $ 10,605 $ 12,062 $ 1,168,960 $ 1,181,022 $ — Other commercial and industrial 817 152 4,429 5,398 1,132,544 1,137,942 — 2,274 152 15,034 17,460 2,301,504 2,318,964 — Commercial US — — — — 680,388 680,388 — Total commercial loans 2,274 152 15,034 17,460 2,981,892 2,999,352 — Mortgage loans 4,277 6,545 53,933 64,755 554,366 619,121 1,799 Consumer loans: Personal loans 8,402 4,061 2,939 15,402 600,164 615,566 — Credit lines 70 82 73 225 10,252 10,477 — Credit cards 582 246 597 1,425 35,873 37,298 — Overdraft 42 — — 42 365 407 — 9,096 4,389 3,609 17,094 646,654 663,748 — Auto loans 118,272 42,753 16,978 178,003 2,305,608 2,483,611 — Total loans $ 133,919 $ 53,839 $ 89,554 $ 277,312 $ 6,488,520 $ 6,765,832 $ 1,799 December 31, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial PR: Commercial secured by real estate $ 1,585 $ 411 $ 5,671 $ 7,667 $ 1,087,540 $ 1,095,207 $ — Other commercial and industrial 1,366 291 4,974 6,631 1,084,390 1,091,021 — 2,951 702 10,645 14,298 2,171,930 2,186,228 — Commercial US — — — — 755,228 755,228 — Total commercial loans 2,951 702 10,645 14,298 2,927,158 2,941,456 — Mortgage loans 6,107 9,596 31,557 47,260 581,987 629,247 2,478 Consumer loans: Personal loans 6,115 4,041 2,755 12,911 555,447 568,358 — Credit lines 137 35 35 207 10,719 10,926 — Credit cards 657 280 586 1,523 38,791 40,314 — Overdraft 87 14 — 101 195 296 — 6,996 4,370 3,376 14,742 605,152 619,894 — Auto loans 101,610 46,071 19,056 166,737 2,105,793 2,272,530 — Total loans $ 117,664 $ 60,739 $ 64,634 $ 243,037 $ 6,220,090 $ 6,463,127 $ 2,478
Schedule of Investment in Loans on Non-Accrual Status	The following table presents the amortized cost basis of loans held for investment on non-accrual status as of September 30, 2024 and December 31, 2023: September 30, 2024 December 31, 2023 Non-accrual with Allowance for Credit Loss Non-accrual with no Allowance for Credit Loss Total Non-accrual with Allowance for Credit Loss Non-accrual with no Allowance for Credit Loss Total (In thousands) (In thousands) Non-PCD: Commercial PR: Commercial secured by real estate $ 5,388 $ 7,326 $ 12,714 $ 3,553 $ 7,929 $ 11,482 Other commercial and industrial 2,741 2,065 4,806 4,560 830 5,390 8,129 9,391 17,520 8,113 8,759 16,872 Commercial US 18,579 — 18,579 19,224 — 19,224 Total Commercial loans 26,708 9,391 36,099 27,337 8,759 36,096 Mortgage loans 10,041 3,826 13,867 10,339 3,858 14,197 Consumer loans: Personal loans 2,958 — 2,958 2,741 14 2,755 Credit lines 73 — 73 35 — 35 Credit cards 596 — 596 586 — 586 3,627 — 3,627 3,362 14 3,376 Auto loans 16,972 6 16,978 19,051 5 19,056 Total $ 57,348 $ 13,223 $ 70,571 $ 60,089 $ 12,636 $ 72,725 PCD: Commercial PR: Commercial secured by real estate $ — $ 3,328 $ 3,328 $ 3,060 $ 2,417 $ 5,477 Other commercial and industrial — 592 592 — 947 947 — 3,920 3,920 3,060 3,364 6,424 Mortgage loans 241 — 241 250 — 250 Total $ 241 $ 3,920 $ 4,161 $ 3,310 $ 3,364 $ 6,674 Total non-accrual loans $ 57,589 $ 17,143 $ 74,732 $ 63,399 $ 16,000 $ 79,399
Schedule of Troubled Debt Restructurings	The following tables present the amortized cost basis as of September 30, 2024 and 2023 of loans held for investment that were modified during the quarters and nine-month periods ended September 30, 2024 and 2023, disaggregated by class of financing receivable and type of concession granted. Quarter Ended September 30, 2024 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial US $ 9,824 1.44 % $ — — % $ — — % $ — — % $ — — % Mortgage loans — — % 415 0.03 % — — % — — % 123 0.01 % Total $ 9,824 $ 415 $ — $ — $ 123 Nine-Month Period Ended September 30, 2024 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial US $ 9,824 1.44 % $ — — % $ — — % $ — — % $ — — % Mortgage loans — — % 1,084 0.07 % — — % 89 0.01 % 123 0.01 % Consumer: Personal loans 26 — % 7 — % — — % — — % — — % Auto loans 31 — % — — % — — % — — % — — % Total $ 9,881 $ 1,091 $ — $ 89 $ 123 Quarter Ended September 30, 2023 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial PR: Commercial secured by real estate $ — — % $ 629 0.06 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 36 — % — — % — — % — — % — — % 665 0.02 % — — % — — % — — % Commercial US 6,824 0.96 % — — % — — % — — % — — % Total Commercial loans 6,824 0.96 % 665 0.02 % — — % — — % — — % Mortgage loans — — % 771 0.05 % — — % 117 0.01 % — — % Consumer: Personal loans 40 0.01 % — — % — — % — — % — — % Auto loans 30 — % — — % — — % — — % — — % Total $ 6,894 $ 1,436 $ — $ 117 $ — Nine-Month Period Ended September 30, 2023 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial PR: Commercial secured by real estate $ — — % $ 6,328 0.56 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 80 0.01 % — — % — — % — — % — — % 6,408 0.23 % — — % — — % — — % Commercial US 6,824 0.96 % — — % — — % — — % 4,286 0.61 % Total Commercial loans 6,824 — % 6,408 0.23 % — — % — — % 4,286 0.61 % Mortgage loans — — % 5,040 0.31 % 98 0.01 % 723 0.05 % 447 0.03 % Consumer: Personal loans 40 0.01 % — — % — — % 82 0.01 % — — % Auto loans 30 — % — — % — — % — — % — — % Total $ 6,894 $ 11,448 $ 98 $ 805 $ 4,733 The following tables present the financial effect of the modifications granted to borrowers experiencing financial difficulty during the quarters and nine-month periods ended September 30, 2024 and 2023. The financial effect of the combined modifications is presented separately by type of modification. Quarter Ended September 30, 2024 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial US 0.73 % 0 $ — Mortgage loans — % 193 10,993 Nine-Month Period Ended September 30, 2024 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial US 0.73 % 0 $ — Mortgage loans 0.38 % 185 10,993 Consumer loans: Personal loans 5.00 % 18 — Auto loans 3.00 % 0 — Quarter Ended September 30, 2023 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial PR: Commercial loans secured by real estate — % 14 $ — Commercial US 1.95 % 0 — Mortgage loans 1.25 % 349 — Consumer loans: Personal loans 4.00 % 0 — Auto loans 3.00 % 0 — Nine-Month Period Ended September 30, 2023 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial PR: Commercial loans secured by real estate — % 23 $ — Commercial US 1.95 % 31 2,973 Mortgage loans 1.94 % 227 24 Consumer loans: Personal loans 2.98 % 81 — Auto loans 3.00 % 0 —
Schedule of Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted	The following table presents the amortized cost basis as of September 30, 2024 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the prior twelve-months. Twelve-Months Ended September 30, 2024 Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted Interest Rate Reduction Term Extension Principal Forgiveness/Forbearance Combination - Term Extension and Interest Rate Reduction Total (In thousands) Mortgage loans $ — $ 107 $ — $ — $ 107 The following table presents the amortized cost basis as of September 30, 2023 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the nine-month period ended September 30, 2023. Nine-Months Ended September 30, 2023 Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted Interest Rate Reduction Term Extension Principal Forgiveness/Forbearance Combination - Term Extension and Interest Rate Reduction Total (In thousands) Mortgage loans $ — $ 415 $ — $ — $ 415
Schedule of Financing Receivable, Modified, Past Due	The following table presents the payment status of loans that have been modified in the twelve-months period ended September 30, 2024 and in the nine-month period ended September 30, 2023 that were granted to borrowers experiencing financial difficulty. September 30, 2024 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial loans: Commercial PR: Other commercial and industrial $ — $ — $ — $ — $ 598 $ 598 Commercial US — — — — 9,824 9,824 Total Commercial loans — — — — 10,422 10,422 Mortgage loans — 38 107 145 1,937 2,082 Consumer loans: Personal loans 26 — — 26 7 33 Auto loans — — — — 80 80 Total $ 26 $ 38 $ 107 $ 171 $ 12,446 $ 12,617 September 30, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial PR: Commercial loans secured by real estate $ — $ — $ — $ — $ 6,328 $ 6,328 Other commercial and industrial — — — — 80 80 — — — — 6,408 6,408 Commercial US — — — — 11,110 11,110 — — — — 17,518 17,518 Mortgage loans 566 133 415 1,114 5,194 6,308 Consumer loans: Personal loans — — — — 122 122 Auto loans — — — — 30 30 Total $ 566 $ 133 $ 415 $ 1,114 $ 22,864 $ 23,978
Schedule of the Amortized Cost of Collateral-Dependent Loans Held for Investment	The table below presents the amortized cost of commercial collateral-dependent loans held for investment at September 30, 2024 and December 31, 2023, by class of loans. September 30, December 31, 2024 2023 (In thousands) Commercial PR: Commercial loans secured by real estate $ 8,583 $ 8,027
Schedule of Credit Quality Indicators of Loans	As of September 30, 2024, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans, and current year-to-date period gross charge-offs by year of origination is as follows: Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Commercial PR: Commercial secured by real estate: Loan grade: Pass $ 138,499 $ 206,787 $ 231,378 $ 191,942 $ 106,952 $ 200,524 $ 49,560 $ 1,125,642 Special Mention — 13,274 7,253 6,284 914 12,548 93 40,366 Substandard — 729 562 1,462 1,199 9,459 1,603 15,014 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial secured by real estate 138,499 220,790 239,193 199,688 109,065 222,531 51,256 1,181,022 Commercial secured by real estate: YTD gross charge-offs — — — — — 7 — 7 Other commercial and industrial: Loan grade: Pass 146,412 276,363 50,926 52,184 25,272 15,075 516,028 1,082,260 Special Mention — 410 3,429 45,013 — 64 1,557 50,473 Substandard — 7 353 894 225 1,051 2,679 5,209 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 146,412 276,780 54,708 98,091 25,497 16,190 520,264 1,137,942 Other commercial and industrial: YTD gross charge-offs 114 142 267 3,310 — 25 — 3,858 Commercial US: Loan grade: Pass 41,137 121,158 32,797 58,473 20,884 23,749 258,111 556,309 Special Mention — — 15,977 — — — 61,383 77,360 Substandard 16,355 16,121 — 6,249 — 5,660 — 44,385 Doubtful 2,334 — — — — — — 2,334 Loss — — — — — — — — Total Commercial US: 59,826 137,279 48,774 64,722 20,884 29,409 319,494 680,388 Commercial US: YTD gross charge-offs — — 392 1,749 — 1,183 — 3,324 Total commercial loans $ 344,737 $ 634,849 $ 342,675 $ 362,501 $ 155,446 $ 268,130 $ 891,014 $ 2,999,352 Total YTD gross charge-offs $ 114 $ 142 $ 659 $ 5,059 $ — $ 1,215 $ — $ 7,189 As of December 31, 2023, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans is as follows: Term Loans Revolving Total 2023 2022 2021 2020 2019 Prior (In thousands) Commercial PR: Commercial secured by real estate: Loan grade: Pass $ 224,598 $ 216,205 $ 195,884 $ 120,489 $ 80,671 $ 131,016 $ 65,873 $ 1,034,736 Special Mention — 1,772 6,554 5,057 15,676 12,500 153 41,712 Substandard — 459 1,386 1,109 2,615 11,939 1,236 18,744 Doubtful — — — — — 15 — 15 Loss — — — — — — — — Total commercial secured by real estate 224,598 218,436 203,824 126,655 98,962 155,470 67,262 1,095,207 Commercial secured by real estate: YTD gross charge-offs — — 265 — 94 820 — 1,179 Other commercial and industrial: Loan grade: Pass 284,615 99,522 113,760 37,665 7,438 14,836 527,008 1,084,844 Special Mention 8 2,953 — — 51 100 — 3,112 Substandard 3 473 826 259 935 186 383 3,065 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 284,626 102,948 114,586 37,924 8,424 15,122 527,391 1,091,021 Other commercial and industrial: YTD gross charge-offs — 124 1,095 89 9 1,180 — 2,497 Commercial US: Loan grade: Pass 142,222 63,885 69,233 31,206 28,202 8,085 358,757 701,590 Special Mention — 7,803 — — — — 20,913 28,716 Substandard 10,832 — — — — 5,699 8,391 24,922 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial US: 153,054 71,688 69,233 31,206 28,202 13,784 388,061 755,228 Commercial US: YTD gross charge-offs 33 1,156 642 47 — 8,637 — 10,515 Total commercial loans $ 662,278 $ 393,072 $ 387,643 $ 195,785 $ 135,588 $ 184,376 $ 982,714 $ 2,941,456 Total YTD gross charge-offs $ 33 $ 1,280 $ 2,002 $ 136 $ 103 $ 10,637 $ — $ 14,191 Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 17,753 $ 18,784 $ 21,215 $ 27,289 $ 18,507 $ 496,850 $ — $ 600,398 Nonperforming 151 641 289 172 189 17,281 — 18,723 Total mortgage loans: 17,904 19,425 21,504 27,461 18,696 514,131 — 619,121 Mortgage loans: YTD gross charge-offs — — — — — 102 — 102 Consumer loans: Personal loans: Payment performance: Performing 215,154 198,170 129,656 46,246 13,095 10,287 — 612,608 Nonperforming 230 1,432 867 348 40 41 — 2,958 Total personal loans 215,384 199,602 130,523 46,594 13,135 10,328 — 615,566 Personal loans: YTD gross charge-offs 389 7,482 9,896 2,858 633 980 — 22,238 Credit lines: Payment performance: Performing — — — — — — 10,404 10,404 Nonperforming — — — — — — 73 73 Total credit lines — — — — — — 10,477 10,477 Credit lines: YTD gross charge-offs — — — — — — 114 114 Credit cards: Payment performance: Performing — — — — — — 36,702 36,702 Nonperforming — — — — — — 596 596 Total credit cards — — — — — — 37,298 37,298 Credit cards: YTD gross charge-offs — — — — — — 2,004 2,004 Overdrafts: Payment performance: Performing — — — — — — 407 407 Nonperforming — — — — — — — — Total overdrafts — — — — — — 407 407 Overdrafts: YTD gross charge-offs — — — — — — 668 668 Total consumer loans 215,384 199,602 130,523 46,594 13,135 10,328 48,182 663,748 Total consumer loans YTD gross charge-offs 389 7,482 9,896 2,858 633 980 2,786 25,024 Total mortgage and consumer loans $ 233,288 $ 219,027 $ 152,027 $ 74,055 $ 31,831 $ 524,459 $ 48,182 $ 1,282,869 Total mortgage and consumer loans YTD gross charge-offs $ 389 $ 7,482 $ 9,896 $ 2,858 $ 633 $ 1,082 $ 2,786 $ 25,126 The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment activity as of December 31, 2023 : Term Loans Revolving Total 2023 2022 2021 2020 2019 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 24,623 $ 19,722 $ 23,303 $ 15,821 $ 14,589 $ 511,182 $ — $ 609,240 Nonperforming — — 181 108 479 19,239 — 20,007 Total mortgage loans: 24,623 19,722 23,484 15,929 15,068 530,421 — 629,247 Mortgage loans: YTD gross charge-offs — 4 — — — 755 — 759 Consumer loans: Personal loans: Payment performance: Performing 270,883 186,612 68,133 19,185 14,460 6,330 — $ 565,603 Nonperforming 503 1,588 304 193 66 101 — 2,755 Total personal loans 271,386 188,200 68,437 19,378 14,526 6,431 — 568,358 Personal loans: YTD gross charge-offs 1,748 10,512 4,661 830 1,384 731 — 19,866 Credit lines: Payment performance: Performing — — — — — — 10,891 $ 10,891 Nonperforming — — — — — — 35 35 Total credit lines — — — — — — 10,926 10,926 Credit lines: YTD gross charge-offs — — — — — — 419 419 Credit cards: Payment performance: Performing — — — — — — 39,728 $ 39,728 Nonperforming — — — — — — 586 586 Total credit cards — — — — — — 40,314 40,314 Credit cards: YTD gross charge-offs — — — — — — 2,825 2,825 Overdrafts: Payment performance: Performing — — — — — — 296 $ 296 Nonperforming — — — — — — — — Total overdrafts — — — — — — 296 296 Overdrafts: YTD gross charge-offs — — — — — — 545 545 Total consumer loans 271,383 188,200 68,437 19,378 14,526 6,431 51,536 619,894 Total consumer loans YTD gross charge-offs 1,748 10,512 4,661 830 1,384 731 3,789 23,655 Total mortgage and consumer loans $ 296,009 $ 207,922 $ 91,921 $ 35,307 $ 29,594 $ 536,852 $ 51,536 $ 1,249,141 Total mortgage and consumer loans YTD gross charge-offs $ 1,748 $ 10,516 $ 4,661 $ 830 $ 1,384 $ 1,486 $ 3,789 $ 24,414 Term Loans Total 2024 2023 2022 2021 2020 Prior (In thousands) Auto loans: FICO score: 1-660 $ 105,309 $ 190,610 $ 171,226 $ 99,103 $ 44,862 $ 47,230 $ 658,340 661-699 129,267 134,525 79,908 41,118 18,395 18,164 421,377 700+ 402,994 419,461 262,013 144,578 75,105 74,804 1,378,955 No FICO 4,096 6,938 6,189 3,697 1,576 2,443 24,939 Total auto loans $ 641,666 $ 751,534 $ 519,336 $ 288,496 $ 139,938 $ 142,641 $ 2,483,611 Auto loans: YTD gross charge-offs $ 1,512 $ 15,216 $ 13,756 $ 6,327 $ 2,811 $ 3,526 $ 43,148 The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of December 31, 2023 : Term Loans Total 2023 2022 2021 2020 2019 Prior (In thousands) Auto loans: FICO score: 1-660 $ 170,639 $ 190,743 $ 118,821 $ 57,087 $ 41,124 $ 38,570 $ 616,984 661-699 169,430 110,260 58,166 25,886 18,253 16,137 398,132 700+ 474,005 323,514 183,286 103,886 88,929 58,779 1,232,399 No FICO 6,203 6,537 4,592 2,200 3,886 1,597 25,015 Total auto loans $ 820,277 $ 631,054 $ 364,865 $ 189,059 $ 152,192 $ 115,083 $ 2,272,530 Auto loans: YTD gross charge-offs $ 4,090 $ 18,142 $ 10,894 $ 4,008 $ 3,380 $ 3,250 $ 43,764

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	9 Months Ended
	Sep. 30, 2024
Credit Loss [Abstract]
Schedule of Gross Loan and Allowance for Credit Losses	The following tables present the activity in OFG’s allowance for credit losses by segment for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 33,809 $ 6,886 $ 29,432 $ 80,722 $ 150,849 Provision for (recapture of) credit losses 928 (31) 9,904 10,212 21,013 Charge-offs (139) (37) (8,863) (16,371) (25,410) Recoveries 1,479 72 830 6,300 8,681 Balance at end of period $ 36,077 $ 6,890 $ 31,303 $ 80,863 $ 155,133 PCD: Balance at beginning of period $ 789 $ 5,642 $ 8 $ 13 $ 6,452 Provision for (recapture of) credit losses 751 (424) (16) (22) 289 Charge-offs (663) (66) — (9) (738) Recoveries 70 250 19 25 364 Balance at end of period $ 947 $ 5,402 $ 11 $ 7 $ 6,367 Total allowance for credit losses at end of period $ 37,024 $ 12,292 $ 31,314 $ 80,870 $ 161,500 Nine-Month Period Ended September 30, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 44,041 $ 7,998 $ 27,086 $ 73,485 $ 152,610 (Recapture of) provision for credit losses (2,462) (1,885) 26,867 32,329 54,849 Charge-offs (7,189) (102) (25,024) (43,148) (75,463) Recoveries 1,687 879 2,374 18,197 23,137 Balance at end of period $ 36,077 $ 6,890 $ 31,303 $ 80,863 $ 155,133 PCD: Balance at beginning of period $ 1,113 $ 7,351 $ 7 $ 25 $ 8,496 Provision for (recapture of) credit losses 377 (2,752) (45) (107) (2,527) Charge-offs (928) (178) — (24) (1,130) Recoveries 385 981 49 113 1,528 Balance at end of period $ 947 $ 5,402 $ 11 $ 7 $ 6,367 Total allowance for credit losses at end of period $ 37,024 $ 12,292 $ 31,314 $ 80,870 $ 161,500 Quarter Ended September 30, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 48,604 $ 8,670 $ 25,666 $ 67,227 $ 150,167 Provision for (recapture of) credit losses 1,103 (273) 6,026 9,804 16,660 Charge-offs (8,254) (218) (5,894) (10,458) (24,824) Recoveries 174 185 655 5,193 6,207 Balance at end of period $ 41,627 $ 8,364 $ 26,453 $ 71,766 $ 148,210 PCD: Balance at beginning of period $ 1,408 $ 8,297 $ 8 $ 43 $ 9,756 Provision for (recapture of) credit losses 60 (226) 15 (67) (218) Charge-offs (690) (148) (39) (37) (914) Recoveries 494 80 23 98 695 Balance at end of period $ 1,272 $ 8,003 $ 7 $ 37 $ 9,319 Total allowance for credit losses at end of period $ 42,899 $ 16,367 $ 26,460 $ 71,803 $ 157,529 Nine-Month Period Ended September 30, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 39,158 $ 9,571 $ 23,264 $ 69,848 $ 141,841 Provision for (recapture of) credit losses 14,857 (1,332) 16,517 10,900 40,942 Charge-offs (13,125) (610) (16,852) (29,106) (59,693) Recoveries 737 735 3,524 20,124 25,120 Balance at end of period $ 41,627 $ 8,364 $ 26,453 $ 71,766 $ 148,210 PCD: Balance at beginning of period $ 1,388 $ 9,359 $ 14 $ 71 $ 10,832 Provision for (recapture of) credit losses 1,376 (1,719) 293 (475) (525) Charge-offs (2,794) (224) (376) (158) (3,552) Recoveries 1,302 587 76 599 2,564 Balance at end of period $ 1,272 $ 8,003 $ 7 $ 37 $ 9,319 Total allowance for credit losses at end of period $ 42,899 $ 16,367 $ 26,460 $ 71,803 $ 157,529

FORECLOSED REAL ESTATE (Tables)

FORECLOSED REAL ESTATE (Tables)	9 Months Ended
	Sep. 30, 2024
Other Real Estate [Abstract]
Schedule of Foreclosed Real Estate Rollforward	The following table presents the activity related to foreclosed real estate for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Balance at beginning of period $ 6,526 $ 10,639 $ 10,780 $ 11,214 Additions 638 1,879 2,689 $ 6,513 Sales (3,035) (3,799) (9,965) $ (10,451) Decline in value (299) (538) (600) $ (937) Other adjustments 589 1,374 1,515 $ 3,216 Balance at end of period $ 4,419 $ 9,555 $ 4,419 $ 9,555

SERVICING ASSETS (Tables)

SERVICING ASSETS (Tables)	9 Months Ended
	Sep. 30, 2024
Transfers and Servicing [Abstract]
Schedule of Changes in Serving Rights at Fair Value	The following table presents the changes in servicing rights measured using the fair value method for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Fair value at beginning of period $ 49,789 $ 49,966 $ 49,520 $ 50,921 Acquired servicing rights 21,427 — 21,427 — Servicing from mortgage securitization or asset transfers 496 453 1,326 1,818 Changes due to payments on loans (1,108) (1,060) (2,759) (3,210) Changes in fair value due to changes in valuation model inputs or assumptions (2,092) 1,242 (1,002) 1,072 Fair value at end of period $ 68,512 $ 50,601 $ 68,512 $ 50,601
Schedule of Key Economic Assumptions	The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value as of September 30, 2024 and 2023: Nine-Month Period Ended September 30, 2024 2023 Constant prepayment rate 0.85% - 13.30% 3.33% - 20.40% Discount rate 10.00% - 15.50% 10.00% - 15.50%
Schedule of Sensitivity of Current Fair Value of Servicing Assets	The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follows: September 30, December 31, 2024 2023 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 68,512 49,520 Weighted average life (in years) 7.8 7.3 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (1,375) $ (928) Decrease in fair value due to 20% adverse change $ (2,697) $ (1,821) Discount rate Decrease in fair value due to 10% adverse change $ (2,948) $ (1,999) Decrease in fair value due to 20% adverse change $ (5,670) $ (3,856)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill by reportable business segment is included in the table below. Refer to “ Note 22 – Business Segments” for additional information on OFG’s reportable business segments. Banking Wealth Management Treasury Total (In thousands) December 31, 2023 $ 84,063 $ 178 $ — $ 84,241 September 30, 2024 $ 84,063 $ 178 $ — $ 84,241
Schedule of Core Deposit, Customer Relationship and Other Intangibles	The following table reflects the components of other intangible assets subject to amortization at September 30, 2024 and December 31, 2023: Gross Accumulated Net (In thousands) September 30, 2024 Core deposit intangibles $ 41,507 $ 29,055 $ 12,452 Customer relationship intangibles 12,693 8,885 3,808 Total other intangible assets $ 54,200 $ 37,940 $ 16,260 December 31, 2023 Core deposit intangibles $ 41,507 $ 25,659 $ 15,848 Customer relationship intangibles 12,693 7,847 4,846 Total other intangible assets $ 54,200 $ 33,506 $ 20,694
Schedule of Estimated Amortization of Other Intangible Assets	The following table presents the estimated amortization of other intangible assets for each of the following periods. Year Ending December 31, (In thousands) 2024 $ 5,913 2025 4,927 2026 3,942 2027 2,956 2028 1,971 Thereafter 985

ACCRUED INTEREST RECEIVABLE A_2

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2024
Accrued Interest Receivable and Other Assets [Abstract]
Schedule of Accrued Interest Receivable	Accrued interest receivable at September 30, 2024 and December 31, 2023 consists of the following: September 30, 2024 December 31, 2023 (In thousands) Loans $ 60,086 $ 63,526 Investments 10,281 7,874 $ 70,367 $ 71,400
Schedule of Other Assets	Other assets at September 30, 2024 and December 31, 2023 consist of the following: September 30, 2024 December 31, 2023 (In thousands) Prepaid expenses $ 98,931 $ 63,040 Other repossessed assets 6,969 4,032 Accounts receivable and other assets 62,052 47,859 $ 167,952 $ 114,931

DEPOSITS AND RELATED INTEREST (

DEPOSITS AND RELATED INTEREST (Tables)	9 Months Ended
	Sep. 30, 2024
Deposits and Related Interest [Abstract]
Schedule of Deposits by Component	Total deposits, including related accrued interest payable, as of September 30, 2024 and December 31, 2023 consist of the following: September 30, 2024 December 31, 2023 (In thousands) Non-interest-bearing demand deposits $ 2,534,363 $ 2,537,431 Interest-bearing savings and demand deposits 5,345,256 5,601,099 Retail certificates of deposit 1,162,870 1,083,316 Institutional certificates of deposit 490,532 378,143 Total core deposits 9,533,021 9,599,989 Brokered deposits 75,631 162,180 Total deposits $ 9,608,652 $ 9,762,169
Schedule of Interest Expense	Interest expense for the quarters and nine-month periods ended September 30, 2024 and 2023 was as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Demand and savings deposits $ 25,921 $ 13,772 $ 78,668 $ 32,864 Certificates of deposit 12,423 7,047 34,280 16,368 $ 38,344 $ 20,819 $ 112,948 $ 49,232
Schedule of Time Deposit Maturities	Excluding accrued interest of approximately $2.0 million and $3.0 million, the scheduled maturities of certificates of deposit at September 30, 2024 and December 31, 2023 are as follows: September 30, 2024 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 327,472 $ 134,086 Over 3 months through 6 months 415,505 247,212 Over 6 months through 1 year 511,131 183,129 1,254,108 564,427 Over 1 through 2 years 325,694 62,099 Over 2 through 3 years 69,395 14,263 Over 3 through 4 years 40,191 2,751 Over 4 through 5 years 37,111 5,439 Over 5 years 487 — $ 1,726,986 $ 648,979 December 31, 2023 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 457,533 $ 115,392 Over 3 months through 6 months 195,902 61,245 Over 6 months through 1 year 329,758 113,524 983,193 290,161 Over 1 through 2 years 467,348 201,478 Over 2 through 3 years 94,450 13,971 Over 3 through 4 years 29,514 1,379 Over 4 through 5 years 45,575 4,665 Over 5 years 608 — $ 1,620,688 $ 511,654

BORROWINGS AND RELATED INTERE_2

BORROWINGS AND RELATED INTEREST (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Federal Home Loan Bank Advances	The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $827 thousand and $768 thousand at September 30, 2024 and December 31, 2023, respectively: September 30, 2024 December 31, 2023 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.56% $ 215,000 $ — Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 3.79% (December 31, 2023 - 4.52%) 55,000 200,000 $ 270,000 $ 200,000 Advances from FHLB mature as follows: September 30, 2024 December 31, 2023 (In thousands) Under 90 days $ 15,000 $ — Over 90 days to one year 200,000 $ — Over one to three years 55,000 200,000 $ 270,000 $ 200,000

REGULATORY CAPITAL REQUIREMEN_2

REGULATORY CAPITAL REQUIREMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Capital Disclosure [Abstract]
Schedule of Compliance with Regulatory Capital Requirements Under Banking Regulations	OFG’s and the Bank’s actual capital amounts and ratios as of September 30, 2024 and December 31, 2023 were as follows: Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) OFG Bancorp Ratios As of September 30, 2024 Total capital to risk-weighted assets $ 1,371,041 15.63 % $ 921,082 10.50 % $ 877,221 10.00 % Tier 1 capital to risk-weighted assets $ 1,260,944 14.37 % $ 745,638 8.50 % $ 701,777 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,260,944 14.37 % $ 614,054 7.00 % $ 570,193 6.50 % Tier 1 capital to average total assets $ 1,260,944 11.12 % $ 453,398 4.00 % $ 566,748 5.00 % As of December 31, 2023 Total capital to risk-weighted assets $ 1,278,537 15.37 % $ 873,369 10.50 % $ 831,780 10.00 % Tier 1 capital to risk-weighted assets $ 1,174,205 14.12 % $ 707,013 8.50 % $ 665,424 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,174,205 14.12 % $ 582,246 7.00 % $ 540,657 6.50 % Tier 1 capital to average total assets $ 1,174,205 11.03 % $ 425,911 4.00 % $ 532,389 5.00 % Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of September 30, 2024 Total capital to risk-weighted assets $ 1,275,292 14.63 % $ 915,051 10.50 % $ 871,478 10.00 % Tier 1 capital to risk-weighted assets $ 1,165,904 13.38 % $ 740,756 8.50 % $ 697,182 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,165,904 13.38 % $ 610,034 7.00 % $ 566,460 6.50 % Tier 1 capital to average total assets $ 1,165,904 10.38 % $ 449,116 4.00 % $ 561,395 5.00 % As of December 31, 2023 Total capital to risk-weighted assets $ 1,179,164 14.27 % $ 867,797 10.50 % $ 826,474 10.00 % Tier 1 capital to risk-weighted assets $ 1,075,487 13.01 % $ 702,503 8.50 % $ 661,179 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,075,487 13.01 % $ 578,532 7.00 % $ 537,208 6.50 % Tier 1 capital to average total assets $ 1,075,487 10.20 % $ 421,660 4.00 % $ 527,075 5.00 %

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Activity of Common Shares Held in Treasury	The activity in connection with common shares held in treasury by OFG for the quarters and nine-month periods ended September 30, 2024 and 2023 is set forth below: Quarter Ended September 30, 2024 2023 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 13,323,702 $ 250,951 12,809,047 $ 226,230 Common shares used upon lapse of restricted stock units and options — — (55,219) (42) Common shares repurchased as part of the stock repurchase programs 2,600 104 73,600 2,186 End of period 13,326,302 $ 251,055 12,827,428 $ 228,374 Nine-Months Ended September 30, 2024 2024 2023 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 12,820,078 $ 228,350 12,303,859 $ 211,135 Common shares used upon lapse of restricted stock units and options (165,576) (1,681) (220,130) (1,414) Common shares repurchased as part of the stock repurchase programs 671,800 24,386 743,699 18,653 End of period 13,326,302 $ 251,055 12,827,428 $ 228,374

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive loss, net of income taxes, as of September 30, 2024 and December 31, 2023 consisted of: September 30, 2024 December 31, 2023 (In thousands) Unrealized loss on securities available-for-sale $ (37,480) $ (78,497) Income tax effect of unrealized loss on securities available-for-sale 4,490 11,484 Net unrealized loss on securities available-for-sale (32,990) (67,013) Accumulated other comprehensive loss, net of income taxes $ (32,990) $ (67,013) The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and nine-month periods ended September 30, 2024 and 2023: Net unrealized loss on securities available-for-sale Quarter Ended September 30, 2024 Nine-Month Period Ended September 30, 2024 (In thousands) Beginning balance $ (86,494) $ (67,013) Other comprehensive loss before reclassifications 53,502 34,024 Amounts reclassified out of accumulated other comprehensive loss 2 (1) Other comprehensive loss 53,504 34,023 Ending balance $ (32,990) $ (32,990) Quarter Ended September 30, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (89,639) $ 75 $ (89,564) Other comprehensive loss before reclassifications (38,040) (2,449) (40,489) Amounts reclassified out of accumulated other comprehensive loss 2 2,374 2,376 Other comprehensive loss (38,038) (75) (38,113) Ending balance $ (127,677) $ — $ (127,677) Nine-Month Period Ended September 30, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (93,663) $ 254 $ (93,409) Other comprehensive income (loss) before reclassifications (32,871) (5,647) (38,518) Amounts reclassified out of accumulated other comprehensive loss (1,143) 5,393 4,250 Other comprehensive income (loss) (34,014) (254) (34,268) Ending balance $ (127,677) $ — $ (127,677)
Schedule of Reclassifications Out of Other Comprehensive Income	The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and nine-month periods ended September 30, 2024 and 2023: Amount reclassified out of accumulated other comprehensive loss Affected Line Item in Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Cash flow hedges: Interest-rate contracts $ — $ 2,374 $ — $ 5,393 Net interest expense Available-for-sale securities: Loss on sale of investments — — (7) (1,149) Net loss on sale of securities Tax effect from changes in tax rates 2 2 6 6 Income tax expense $ 2 $ 2,376 $ (1) $ 4,250

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Share	The calculation of earnings per common share for the quarters and nine-month periods ended September 30, 2024 and 2023 is as follows: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands, except per share data) Income available to common shareholders $ 47,000 $ 44,873 $ 147,823 $ 135,275 Average common shares outstanding 46,560 47,114 46,868 47,325 Effect of dilutive securities: Average potential common shares-options 286 278 243 280 Total weighted average common shares outstanding and equivalents $ 46,846 $ 47,392 $ 47,111 $ 47,605 Earnings per common share - basic $ 1.01 $ 0.95 $ 3.15 $ 2.86 Earnings per common share - diluted $ 1.00 $ 0.95 $ 3.14 $ 2.84

GUARANTEES (Tables)

GUARANTEES (Tables)	9 Months Ended
	Sep. 30, 2024
Guarantees [Abstract]
Schedule of Changes in Liability of Estimated Loss from Credit Recourse Agreement	The following table shows the changes in OFG’s liability for estimated losses from credit recourse agreements, included in the consolidated statements of financial condition during the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) Balance at beginning of period $ 59 $ 150 $ 102 $ 147 Net recoveries (charge-offs/terminations) (18) 25 (61) 28 Balance at end of period $ 41 $ 175 $ 41 $ 175

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Credit-Related Financial Instruments	Credit-related financial instruments at September 30, 2024 and December 31, 2023 were as follows: September 30, 2024 December 31, 2023 (In thousands) Commitments to extend credit $ 1,397,592 $ 1,255,695 Commercial letters of credit 817 119 The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor’s accounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at September 30, 2024 and December 31, 2023, is as follows: September 30, 2024 December 31, 2023 (In thousands) Standby letters of credit and financial guarantees $ 23,885 $ 23,970 Loans sold with recourse 92,559 98,685

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	9 Months Ended
	Sep. 30, 2024
Lessee Disclosure [Abstract]
Schedule of Operating Lease Cost	Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 Statement of Operations (In thousands) Lease costs $ 2,324 $ 5,130 $ 7,238 $ 7,738 Occupancy and equipment Variable lease costs 465 674 1,246 1,021 Occupancy and equipment Short-term lease costs 123 335 264 483 Occupancy and equipment Lease income (13) (62) (64) (79) Occupancy and equipment Total lease costs $ 2,899 $ 6,077 $ 8,684 $ 9,163
Schedule of Operating Lease Assets and Liabilities	September 30, 2024 December 31, 2023 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 20,355 $ 21,725 Operating lease right-of-use assets Lease Liabilities $ 22,604 $ 24,029 Operating leases liabilities
Schedule of Operating Lease, Other Information	September 30, 2024 December 31, 2023 (In thousands) Weighted-average remaining lease term 4.9 years 5.1 years Weighted-average discount rate 7.6 % 7.0 %
Schedule of Future Minimum Payments for Operating Leases and Present Value	Future minimum payments for operating leases with initial or remaining terms of one year or more as of September 30, 2024 were as follows: Minimum Rent As of September 30, 2024 (In thousands) 2024 $ 2,152 2025 7,232 2026 5,063 2027 4,146 2028 3,239 Thereafter 5,382 Total lease payments $ 27,214 Less imputed interest 4,610 Present value of lease liabilities $ 22,604

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities on Recurring and Non-Recurring Basis	Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below: September 30, 2024 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 1,136 $ 2,228,966 $ — $ 2,230,102 Trading securities — 18 — 18 Money market investments 5,885 — — 5,885 Servicing assets — — 68,512 68,512 $ 7,021 $ 2,228,984 $ 68,512 $ 2,304,517 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 8,583 $ 8,583 Foreclosed real estate — — 4,419 4,419 Other repossessed assets — — 6,969 6,969 Mortgage loans held for sale — — 10,908 10,908 Other loans held for sale — — 4,716 4,716 $ — $ — $ 35,595 $ 35,595 December 31, 2023 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 296,799 $ 1,802,465 $ — $ 2,099,264 Trading securities — 13 — 13 Money market investments 4,623 — — 4,623 Servicing assets — — 49,520 49,520 $ 301,422 $ 1,802,478 $ 49,520 $ 2,153,420 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 8,027 $ 8,027 Foreclosed real estate — — 10,780 10,780 Other repossessed assets — — 4,032 4,032 Other loans held for sale $ — $ — $ 28,345 28,345 $ — $ — $ 51,184 $ 51,184
Schedule of Reconciliation of Assets and Liabilities Using Significant Unobservable Inputs (Level 3)	The tables below present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and nine-month periods ended September 30, 2024 and 2023: Level 3 Instruments Only Quarter Ended September 30, 2024 2023 Servicing Assets Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning period $ 49,789 $ 413 $ 49,966 $ 50,379 New instruments acquired 21,923 — 453 453 Principal repayments and amortization (1,108) — (1,060) (1,060) Instrument converted to equity security — (413) — (413) Gains (losses) included in earnings (2,092) — 1,242 1,242 Balance at end of period $ 68,512 $ — $ 50,601 $ 50,601 Nine-Month Period Ended September 30, 2024 2023 Servicing Assets Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning of period $ 49,520 $ 406 $ 50,921 $ 51,327 New instruments acquired 22,753 — 1,818 1,818 Principal repayments and amortization (2,759) — (3,210) (3,210) Instrument converted to equity security — (406) — (406) Gains (losses) included in earnings (1,002) — 1,072 1,072 Balance at end of period $ 68,512 $ — $ 50,601 $ 50,601
Schedule of Qualitative Information for Assets and Liabilities	The table below presents quantitative information for all assets measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at September 30, 2024 and December 31, 2023: September 30, 2024 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 68,512 Cash flow valuation Constant prepayment rate 0.85% - 13.30% 6.25 % Discount rate 10.00% - 15.50% 11.61 % Collateral dependent loans $ 8,583 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.04 % Foreclosed real estate $ 4,419 Fair value of property Appraised value less disposition costs 10.00% - 33.00% 11.10 % Other repossessed assets $ 6,969 Fair value of property Estimated net realizable value less disposition costs 37.00% - 71.00% 56.32 % Mortgage loans held for sale $ 10,908 Market prices Pricing and execution whole loan 94.06% - 102.10% 98.56 % Other loans held for sale $ 4,716 Bids or sales contract prices Estimated market value 99.75% - 101.21% 101.12 % December 31, 2023 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 49,520 Cash flow valuation Constant prepayment rate 1.35% - 17.34% 6.12 % Discount rate 10.00% - 15.50% 11.45 % Collateral dependent loans $ 8,027 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.00 % Foreclosed real estate $ 10,780 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 12.67 % Other repossessed assets $ 4,032 Fair value of property Estimated net realizable value less disposition costs 31.00% - 77.00% 57.72 % Other loans held for sale $ 28,345 Bids or sales contract prices Estimated market value 52.00% - 103.20% 84.80%
Schedule of Estimated Fair Value and Carrying Value	The estimated fair value and carrying value of OFG’s financial instruments at September 30, 2024 and December 31, 2023 was as follows: September 30, 2024 December 31, 2023 Fair Carrying Fair Carrying (In thousands) Financial Assets: Level 1 Cash and cash equivalents $ 680,587 $ 680,587 $ 748,173 $ 748,173 Investment securities available-for-sale $ 1,136 $ 1,136 $ 296,799 $ 296,799 Level 2 Financial Assets: Trading securities $ 18 $ 18 $ 13 $ 13 Investment securities available-for-sale $ 2,228,966 $ 2,228,966 $ 1,802,465 $ 1,802,465 Investment securities held-to-maturity $ 249,198 $ 297,713 $ 455,709 $ 514,024 Federal Home Loan Bank (FHLB) stock $ 18,430 $ 18,430 $ 14,488 $ 14,488 Equity securities $ 27,262 $ 27,262 $ 23,981 $ 23,981 Level 3 Financial Assets: Investment securities held-to-maturity $ 35,051 $ 35,000 $ 35,055 $ 35,000 Total loans (including loans held-for-sale) $ 7,516,112 $ 7,604,700 $ 7,282,214 $ 7,401,618 Accrued interest receivable $ 70,367 $ 70,367 $ 71,400 $ 71,400 Servicing assets $ 68,512 $ 68,512 $ 49,520 $ 49,520 Accounts receivable and other assets $ 62,052 $ 62,052 $ 47,859 $ 47,589 Financial Liabilities: Deposits $ 9,651,703 $ 9,608,652 $ 9,767,068 $ 9,762,169 Advances from FHLB $ 270,045 $ 270,827 $ 199,184 $ 200,768 Other borrowings $ — $ — $ 2 $ 2 Accrued expenses and other liabilities $ 157,609 $ 157,609 $ 115,985 $ 115,985

BANKING AND FINANCIAL SERVICE_2

BANKING AND FINANCIAL SERVICE REVENUES (Tables)	9 Months Ended
	Sep. 30, 2024
Banking and Thrift, Interest [Abstract]
Schedule of Commissions and Fees Revenues	The following table presents the major categories of banking and financial service revenues for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, Nine-Month Period Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Banking service revenues: Electronic banking fees $ 12,062 $ 13,447 $ 40,469 $ 40,416 Checking accounts fees 1,983 2,233 6,043 6,638 Savings accounts fees 317 333 932 993 Credit life commissions 93 90 170 314 Branch service commissions 281 352 903 1,098 Servicing and other loan fees 619 668 2,512 2,251 International fees 194 174 549 536 Miscellaneous income 5 6 16 10 Total banking service revenues $ 15,554 $ 17,303 $ 51,594 $ 52,256 Wealth management revenue: Insurance income $ 3,979 $ 3,607 $ 11,968 $ 11,146 Broker fees 2,289 1,945 6,388 5,525 Trust fees 2,181 2,139 6,640 6,298 Other fees — — — 36 Total wealth management revenue $ 8,449 $ 7,691 $ 24,996 $ 23,005 Mortgage banking activities: Net servicing fees $ 1,852 $ 4,764 $ 9,904 $ 12,256 Net gains on sale of mortgage loans and valuation 611 450 1,983 2,009 Net gain (loss) on repurchased loans and other (195) 196 (62) 268 Total mortgage banking activities $ 2,268 $ 5,410 $ 11,825 $ 14,533 Total banking and financial service revenues $ 26,271 $ 30,404 $ 88,415 $ 89,794

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Following are the results of operations and the selected financial information by operating segment for the quarters and nine-month periods ended September 30, 2024 and 2023: Quarter Ended September 30, 2024 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 155,922 $ 6 $ 34,145 $ 190,073 $ (1,043) $ 189,030 Interest expense (37,990) — (4,208) (42,198) 1,043 (41,155) Net interest income 117,932 6 29,937 147,875 — 147,875 Provision for (recapture of) credit losses 21,427 — (68) 21,359 — 21,359 Non-interest income 19,117 7,750 1 26,868 — 26,868 Non-interest expenses (86,753) (4,016) (831) (91,600) — (91,600) Intersegment revenue 387 — — 387 (387) — Intersegment expenses — (224) (163) (387) 387 — Income before income taxes 29,256 3,516 29,012 61,784 — $ 61,784 Income tax expense 14,742 2 40 14,784 — 14,784 Net income $ 14,514 $ 3,514 $ 28,972 $ 47,000 $ — $ 47,000 Total assets $ 9,549,261 $ 36,779 $ 3,151,462 $ 12,737,502 $ (1,276,120) $ 11,461,382 Nine-Month Period Ended September 30, 2024 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 462,598 $ 19 $ 100,571 $ 563,188 $ (3,074) $ 560,114 Interest expense (111,493) — (12,393) (123,886) 3,074 (120,812) Net interest income 351,105 19 88,178 439,302 — 439,302 Provision for (recapture of) credit losses 52,241 — (180) 52,061 — 52,061 Non-interest income, net 66,905 22,779 8 89,692 — 89,692 Non-interest expenses (260,249) (13,161) (2,562) (275,972) — (275,972) Intersegment revenue 1,226 — — 1,226 (1,226) — Intersegment expenses — (734) (492) (1,226) 1,226 — Income before income taxes $ 106,746 $ 8,903 $ 85,312 $ 200,961 $ — $ 200,961 Income tax expense 53,004 10 124 53,138 — 53,138 Net income $ 53,742 $ 8,893 $ 85,188 $ 147,823 $ — $ 147,823 Total assets $ 9,549,261 $ 36,779 $ 3,151,462 $ 12,737,502 $ (1,276,120) $ 11,461,382 Eliminations include interest income and expense for a time deposit opened by the Bank in Oriental Overseas, an international banking entity organized and licensed under Puerto Rico law, which operates as a unit within the Bank. The time deposit with a balance of $277.4 million and $308.9 million at September 30, 2024 and 2023, respectively, to fund Oriental Overseas operations is included in the Treasury Segment with its corresponding interest expense, and the related interest income is included in the Banking Segment, and are eliminated in the consolidation. Interest income is accrued on the unpaid principal balance. The decrease in interest income and interest expense from the prior year period was mainly as a result of lower interest rate and average balance. Quarter Ended September 30, 2023 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 145,667 $ 8 $ 23,905 $ 169,580 $ (3,872) $ 165,708 Interest expense (20,662) — (7,131) (27,793) 3,872 (23,921) Net interest income 125,005 8 16,774 141,787 — 141,787 Provision for credit losses 16,371 — 59 16,430 — 16,430 Non-interest income 23,211 7,487 1 30,699 — 30,699 Non-interest expenses (85,536) (3,778) (844) (90,158) — (90,158) Intersegment revenue 487 — — 487 (487) — Intersegment expenses — (337) (150) (487) 487 — Income before income taxes 46,796 3,380 15,722 65,898 — 65,898 Income tax expense 20,994 (4) 35 21,025 — 21,025 Net income $ 25,802 $ 3,384 $ 15,687 $ 44,873 $ — $ 44,873 Total assets $ 8,742,283 $ 34,380 $ 2,523,536 $ 11,300,199 $ (1,043,061) $ 10,257,138 Nine-Month Period Ended September 30, 2023 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 418,091 $ 19 $ 67,872 $ 485,982 $ (13,301) $ 472,681 Interest expense $ (48,867) $ — $ (19,787) $ (68,654) $ 13,301 $ (55,353) Net interest income $ 369,224 $ 19 $ 48,085 $ 417,328 $ — $ 417,328 Provision for credit losses $ 40,828 $ — $ 91 $ 40,919 $ — $ 40,919 Non-interest income, net $ 68,190 $ 22,631 $ (1,148) $ 89,673 $ — $ 89,673 Non-interest expenses $ (254,777) $ (11,871) $ (2,618) $ (269,266) $ — $ (269,266) Intersegment revenue $ 1,610 $ — $ — $ 1,610 $ (1,610) $ — Intersegment expenses $ — $ (1,096) $ (514) $ (1,610) $ 1,610 $ — Income before income taxes $ 143,419 $ 9,683 $ 43,714 $ 196,816 $ — $ 196,816 Income tax expense $ 61,463 $ 16 $ 62 $ 61,541 $ — $ 61,541 Net income $ 81,956 $ 9,667 $ 43,652 $ 135,275 $ — $ 135,275 Total assets $ 8,742,283 $ 34,380 $ 2,523,536 $ 11,300,199 $ (1,043,061) $ 10,257,138

RESTRICTED CASH (Details)

RESTRICTED CASH (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Restricted Cash and Investments [Abstract]
Reserve required by local government	$ 460.1	$ 464.5

INVESTMENT SECURITIES (Narrativ

INVESTMENT SECURITIES (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) security	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Money market investments	$ 5,885	$ 4,073	$ 4,623
Securitized GNMA pools retained, amortized cost	$ 55,700	$ 52,800
Securitized GNMA pool retained, yield	5.08%	5.20%
Retained FNMA pools	$ 0	$ 17,200
FNMA pools retained, yield		5.37%
Number of investment securities available-for-sale with unrealized losses under 12 months | security	0
US Treasury securities
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale of available for sale securities	$ 149,413	$ 203,282
Gross Losses	7	$ 1,149
OIB
Debt Securities, Available-for-sale [Line Items]
Restricted cash	525		325
Oriental Overseas
Debt Securities, Available-for-sale [Line Items]
Restricted cash	525		325
Asset Pledged as Collateral
Debt Securities, Available-for-sale [Line Items]
Pledged assets	1,641,000		1,624,000
Asset Pledged as Collateral | Public Funds
Debt Securities, Available-for-sale [Line Items]
Pledged assets	$ 1,595,000		$ 1,575,000

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - AFS) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Amortized Cost	$ 2,267,582	$ 2,177,761
Gross Unrealized Gains	32,887	13,476
Gross Unrealized Losses	70,367	91,973
Fair Value	$ 2,230,102	$ 2,099,264
Weighted Average Yield	4.19%	4.07%
Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 2,265,879	$ 1,880,395
Gross Unrealized Gains	32,886	13,424
Gross Unrealized Losses	70,366	91,970
Fair Value	$ 2,228,399	$ 1,801,849
Weighted Average Yield	4.19%	3.86%
Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,703	$ 297,366
Gross Unrealized Gains	1	52
Gross Unrealized Losses	1	3
Fair Value	$ 1,703	$ 297,415
Weighted Average Yield	4.32%	5.39%
FNMA and FHLMC certificates | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,815,924	$ 1,464,134
Gross Unrealized Gains	23,652	8,989
Gross Unrealized Losses	40,594	57,178
Fair Value	$ 1,798,982	$ 1,415,945
Weighted Average Yield	4.36%	4.03%
FNMA and FHLMC certificates | Due from 1 to 5 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 13,748	$ 6,972
Gross Unrealized Gains	0	0
Gross Unrealized Losses	427	311
Fair Value	$ 13,321	$ 6,661
Weighted Average Yield	2.08%	1.76%
FNMA and FHLMC certificates | Due from 5 to 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 28,114	$ 45,835
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,321	2,767
Fair Value	$ 26,793	$ 43,068
Weighted Average Yield	1.91%	2%
FNMA and FHLMC certificates | Due after 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,774,062	$ 1,411,327
Gross Unrealized Gains	23,652	8,989
Gross Unrealized Losses	38,846	54,100
Fair Value	$ 1,758,868	$ 1,366,216
Weighted Average Yield	4.42%	4.11%
GNMA certificates | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 443,285	$ 406,275
Gross Unrealized Gains	9,234	4,435
Gross Unrealized Losses	29,616	34,416
Fair Value	$ 422,903	$ 376,294
Weighted Average Yield	3.54%	3.30%
GNMA certificates | Due less than 1 year | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost		$ 5
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		$ 5
Weighted Average Yield		1.31%
GNMA certificates | Due from 1 to 5 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 7,131	$ 8,851
Gross Unrealized Gains	0	0
Gross Unrealized Losses	195	351
Fair Value	$ 6,936	$ 8,500
Weighted Average Yield	1.73%	1.71%
GNMA certificates | Due from 5 to 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 12,344	$ 17,113
Gross Unrealized Gains	14	16
Gross Unrealized Losses	515	955
Fair Value	$ 11,843	$ 16,174
Weighted Average Yield	2.25%	2.19%
GNMA certificates | Due after 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 423,810	$ 380,306
Gross Unrealized Gains	9,220	4,419
Gross Unrealized Losses	28,906	33,110
Fair Value	$ 404,124	$ 351,615
Weighted Average Yield	3.61%	3.38%
CMOs issued by US government-sponsored agencies | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 6,670	$ 9,986
Gross Unrealized Gains	0	0
Gross Unrealized Losses	156	376
Fair Value	$ 6,514	$ 9,610
Weighted Average Yield	2.16%	2.06%
CMOs issued by US government-sponsored agencies | Due from 1 to 5 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 5,901	$ 9,071
Gross Unrealized Gains	0	0
Gross Unrealized Losses	151	364
Fair Value	$ 5,750	$ 8,707
Weighted Average Yield	1.78%	1.78%
CMOs issued by US government-sponsored agencies | Due from 5 to 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost		$ 54
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		$ 54
Weighted Average Yield		2.14%
CMOs issued by US government-sponsored agencies | Due after 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 769	$ 861
Gross Unrealized Gains	0	0
Gross Unrealized Losses	5	12
Fair Value	$ 764	$ 849
Weighted Average Yield	5.06%	5.07%
US Treasury securities | Due less than 1 year | Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,135	$ 296,747
Gross Unrealized Gains	1	52
Gross Unrealized Losses	0	0
Fair Value	$ 1,136	$ 296,799
Weighted Average Yield	4.88%	5.40%
Other debt securities | Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 568	$ 619
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1	3
Fair Value	$ 567	$ 616
Weighted Average Yield	3.22%	3.20%
Other debt securities | Due less than 1 year | Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 500	$ 500
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 500	$ 500
Weighted Average Yield	3.25%	3.25%
Other debt securities | Due from 1 to 5 years | Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 68	$ 119
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1	3
Fair Value	$ 67	$ 116
Weighted Average Yield	2.97%	2.97%

INVESTMENT SECURITIES (Invest_2

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - HTM) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 332,713	$ 549,024
Gross Unrealized Gains	51	55
Gross Unrealized Losses	48,515	58,315
Fair Value	$ 284,249	$ 490,764
Weighted Average Yield	2.20%	2.60%
FNMA and FHLMC certificates | Due after 10 years | Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 297,713	$ 314,710
Gross Unrealized Gains	0	0
Gross Unrealized Losses	48,515	56,767
Fair Value	$ 249,198	$ 257,943
Weighted Average Yield	1.73%	1.72%
US Treasury securities | Due less than 1 year | Investment securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		$ 199,314
Gross Unrealized Gains		0
Gross Unrealized Losses		1,548
Fair Value		$ 197,766
Weighted Average Yield		3.33%
Other debt securities available for sale | Due from 1 to 5 years | Investment securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 35,000	$ 35,000
Gross Unrealized Gains	51	55
Gross Unrealized Losses	0	0
Fair Value	$ 35,051	$ 35,055
Weighted Average Yield	6.20%	6.36%

INVESTMENT SECURITIES (Sale of

INVESTMENT SECURITIES (Sale of Securities Available-for-Sale) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Schedule of Investments [Line Items]
Investment securities available-for-sale	$ 149,406	$ 202,133
US Treasury securities
Schedule of Investments [Line Items]
Investment securities available-for-sale	149,406	202,133
Book Value at Sale	149,413	203,282
Gross Gains	0	0
Gross Losses	$ 7	$ 1,149

INVESTMENT SECURITIES (Unrealiz

INVESTMENT SECURITIES (Unrealized Gains and Losses by Category) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Securities Available-for-Sale, Amortized Cost
12 months or more	$ 915,624	$ 1,017,108
Less than 12 months		114,099
Amortized Cost		1,131,207
Securities Available-for-Sale, Unrealized Loss
12 months or more	70,367	91,590
Less than 12 months		383
Total		91,973
Securities Available-for-Sale, Fair Value
12 months or more	845,257	925,518
Less than 12 months		113,716
Total		1,039,234
FNMA and FHLMC certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	663,730	731,334
Less than 12 months		106,235
Amortized Cost		837,569
Securities Available-for-Sale, Unrealized Loss
12 months or more	40,594	56,847
Less than 12 months		331
Total		57,178
Securities Available-for-Sale, Fair Value
12 months or more	623,136	674,487
Less than 12 months		105,904
Total		780,391
GNMA certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	245,156	275,669
Less than 12 months		7,864
Amortized Cost		283,533
Securities Available-for-Sale, Unrealized Loss
12 months or more	29,616	34,364
Less than 12 months		52
Total		34,416
Securities Available-for-Sale, Fair Value
12 months or more	215,540	241,305
Less than 12 months		7,812
Total		249,117
CMOs issued by US Government-sponsored agencies
Securities Available-for-Sale, Amortized Cost
12 months or more	6,670	9,986
Amortized Cost		9,986
Securities Available-for-Sale, Unrealized Loss
12 months or more	156	376
Total		376
Securities Available-for-Sale, Fair Value
12 months or more	6,514	9,610
Total		9,610
Other debt securities
Securities Available-for-Sale, Amortized Cost
12 months or more	68	119
Amortized Cost		119
Securities Available-for-Sale, Unrealized Loss
12 months or more	1	3
Total		3
Securities Available-for-Sale, Fair Value
12 months or more	$ 67	116
Total		$ 116

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024 USD ($) portfolioSegment	Sep. 30, 2024 USD ($) portfolioSegment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan portfolio segments | portfolioSegment	4	4
Total loans held-for-sale	$ 15,624	$ 15,624		$ 28,345
Total Loans	7,750,576	7,750,576		7,534,379
Accrued interest receivable on modified loans		33	$ 110
Recorded investment of residential mortgage loans collateralized and in process of foreclosure	26,400	26,400		24,100
Balance of revolving loans converted to term loans, amount	190,800	190,800		144,100
Accrued interest receivable	70,367	70,367		71,400
Mortgage servicing rights		17,162	0
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	60,086	60,086		63,526
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	15,624	15,624		28,345
Total Loans	6,765,832	6,765,832		6,463,127
Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	277,312	277,312		243,037
Mortgage Loans - GNMA Buy-Back Option Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loans	41,800	41,800		19,400
Defaulted mortgage loan amount	24,200	24,200
Mortgage servicing rights	1,700,000
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, sale		56,300	86
Recognized gain on sale		454	$ 0
Total loans held-for-sale	4,716	4,716		28,345
Total Loans	3,118,381	3,118,381		3,076,903
Commitment to lend additional funds	0	0		0
Commercial loans | Non-accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	0	0		6,400
Commercial loans | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	0	0		6,400
Commercial loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	4,716	4,716		28,345
Total Loans	2,999,352	2,999,352		2,941,456
Commercial loans | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	17,460	17,460		14,298
Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,437,993	2,437,993		2,321,675
Commercial loans | Puerto Rico | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,318,964	2,318,964		2,186,228
Commercial loans | Puerto Rico | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	17,460	17,460		14,298
Commercial loans | Puerto Rico | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	66,200	66,200		68,600
Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	10,908	10,908		0
Total Loans	$ 1,483,612	$ 1,483,612		1,562,609
Mortgage loans | Government Guaranteed Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Period past due	90 days	90 days
Nonaccrual status		12 months
Financing receivable, excluding accrued interest	$ 621	$ 621		4,500
Mortgage loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	10,908	10,908		0
Total Loans	619,121	619,121		629,247
Mortgage loans | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	64,755	64,755		47,260
Mortgage and consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance of revolving loans converted to term loans, amount	774	774		0
Mortgage and consumer loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 1,282,869	$ 1,282,869		$ 1,249,141

LOANS (Composition of Loan Port

LOANS (Composition of Loan Portfolio) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 7,750,576		$ 7,534,379
Allowance for credit losses	(161,500)		(161,106)	$ (157,529)
Total loans held for investment, net	7,589,076		7,373,273
Total loans held-for-sale	15,624		28,345
Total loans	7,604,700		7,401,618
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	3,118,381		3,076,903
Allowance for credit losses	(37,024)			(42,899)
Total loans held-for-sale	4,716		28,345
Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,437,993		2,321,675
Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	680,388		755,228
Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,483,612		1,562,609
Allowance for credit losses	(12,292)			(16,367)
Total loans held-for-sale	10,908		0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	664,308		620,446
Allowance for credit losses	(31,314)			(26,460)
Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,484,275		2,274,421
Allowance for credit losses	(80,870)			(71,803)
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	6,765,832		6,463,127
Allowance for credit losses	(155,133)	$ (150,849)	(152,610)	(148,210)	$ (150,167)	$ (141,841)
Total loans held for investment, net	6,610,699		6,310,517
Total loans held-for-sale	15,624		28,345
Total loans	6,626,323		6,338,862
Non-PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,999,352		2,941,456
Allowance for credit losses	(36,077)	(33,809)	(44,041)	(41,627)	(48,604)	(39,158)
Total loans held-for-sale	4,716		28,345
Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,318,964		2,186,228
Non-PCD | Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	680,388		755,228
Non-PCD | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	619,121		629,247
Allowance for credit losses	(6,890)	(6,886)	(7,998)	(8,364)	(8,670)	(9,571)
Total loans held-for-sale	10,908		0
Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	663,748		619,894
Allowance for credit losses	(31,303)	(29,432)	(27,086)	(26,453)	(25,666)	(23,264)
Non-PCD | Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,483,611		2,272,530
Allowance for credit losses	(80,863)	(80,722)	(73,485)	(71,766)	(67,227)	(69,848)
PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	984,744		1,071,252
Allowance for credit losses	(6,367)	(6,452)	(8,496)	(9,319)	(9,756)	(10,832)
Total loans held for investment, net	978,377		1,062,756
Total loans held-for-sale	0		0
Total loans	978,377		1,062,756
PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	119,029		135,447
Allowance for credit losses	(947)	(789)	(1,113)	(1,272)	(1,408)	(1,388)
Total loans held-for-sale	0		0
PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	119,029		135,447
PCD | Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	0		0
PCD | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	864,491		933,362
Allowance for credit losses	(5,402)	(5,642)	(7,351)	(8,003)	(8,297)	(9,359)
Total loans held-for-sale	0		0
PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	560		552
Allowance for credit losses	(11)	(8)	(7)	(7)	(8)	(14)
PCD | Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	664		1,891
Allowance for credit losses	(7)	$ (13)	(25)	$ (37)	$ (43)	$ (71)
Commercial secured by real estate | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,288,069		1,216,195
Commercial secured by real estate | Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,181,022		1,095,207
Commercial secured by real estate | PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	107,047		120,988
Other commercial and industrial | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,149,924		1,105,480
Other commercial and industrial | Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,137,942		1,091,021
Other commercial and industrial | PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	11,982		14,459
Commercial US | Non-PCD | Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	680,388		755,228
Personal loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	615,817		568,622
Personal loans | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	615,566		568,358
Personal loans | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	251		264
Credit lines | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	10,786		11,214
Credit lines | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	10,477		10,926
Credit lines | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	309		288
Credit cards | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	37,298		40,314
Credit cards | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	37,298		40,314
Credit cards | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	0		0
Overdraft | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	407		296
Overdraft | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	407		296
Overdraft | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 0		$ 0

LOANS (Aging of Recorded Invest

LOANS (Aging of Recorded Investment in Gross Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total Loans	$ 7,750,576	$ 7,534,379
Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	3,118,381	3,076,903
Mortgage loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,483,612	1,562,609
Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	664,308	620,446
Auto loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,484,275	2,274,421
Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,765,832	6,463,127
Loans 90+ Days Past Due and Still Accruing	1,799	2,478
Non-PCD | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	277,312	243,037
Non-PCD | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	133,919	117,664
Non-PCD | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	53,839	60,739
Non-PCD | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	89,554	64,634
Non-PCD | Current
Financing Receivable, Past Due [Line Items]
Total Loans	6,488,520	6,220,090
Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,999,352	2,941,456
Loans 90+ Days Past Due and Still Accruing	0	0
Non-PCD | Commercial loans | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	17,460	14,298
Non-PCD | Commercial loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	2,274	2,951
Non-PCD | Commercial loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	152	702
Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	15,034	10,645
Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	2,981,892	2,927,158
Non-PCD | Mortgage loans
Financing Receivable, Past Due [Line Items]
Total Loans	619,121	629,247
Loans 90+ Days Past Due and Still Accruing	1,799	2,478
Non-PCD | Mortgage loans | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	64,755	47,260
Non-PCD | Mortgage loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	4,277	6,107
Non-PCD | Mortgage loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	6,545	9,596
Non-PCD | Mortgage loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	53,933	31,557
Non-PCD | Mortgage loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	554,366	581,987
Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	663,748	619,894
Loans 90+ Days Past Due and Still Accruing	0	0
Non-PCD | Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	17,094	14,742
Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	9,096	6,996
Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	4,389	4,370
Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	3,609	3,376
Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	646,654	605,152
Non-PCD | Auto loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,483,611	2,272,530
Loans 90+ Days Past Due and Still Accruing	0	0
Non-PCD | Auto loans | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	178,003	166,737
Non-PCD | Auto loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	118,272	101,610
Non-PCD | Auto loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	42,753	46,071
Non-PCD | Auto loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	16,978	19,056
Non-PCD | Auto loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	2,305,608	2,105,793
Personal loans | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	615,817	568,622
Personal loans | Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	615,566	568,358
Loans 90+ Days Past Due and Still Accruing	0	0
Personal loans | Non-PCD | Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	15,402	12,911
Personal loans | Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	8,402	6,115
Personal loans | Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	4,061	4,041
Personal loans | Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	2,939	2,755
Personal loans | Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	600,164	555,447
Credit lines | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	10,786	11,214
Credit lines | Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	10,477	10,926
Loans 90+ Days Past Due and Still Accruing	0	0
Credit lines | Non-PCD | Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	225	207
Credit lines | Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	70	137
Credit lines | Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	82	35
Credit lines | Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	73	35
Credit lines | Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	10,252	10,719
Credit cards | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	37,298	40,314
Credit cards | Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	37,298	40,314
Loans 90+ Days Past Due and Still Accruing	0	0
Credit cards | Non-PCD | Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,425	1,523
Credit cards | Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	582	657
Credit cards | Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	246	280
Credit cards | Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	597	586
Credit cards | Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	35,873	38,791
Overdraft | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	407	296
Overdraft | Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	407	296
Loans 90+ Days Past Due and Still Accruing	0	0
Overdraft | Non-PCD | Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	42	101
Overdraft | Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	42	87
Overdraft | Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	14
Overdraft | Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Overdraft | Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	365	195
Puerto Rico | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,437,993	2,321,675
Puerto Rico | Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,318,964	2,186,228
Loans 90+ Days Past Due and Still Accruing	0	0
Puerto Rico | Non-PCD | Commercial loans | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	17,460	14,298
Puerto Rico | Non-PCD | Commercial loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	2,274	2,951
Puerto Rico | Non-PCD | Commercial loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	152	702
Puerto Rico | Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	15,034	10,645
Puerto Rico | Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	2,301,504	2,171,930
Puerto Rico | Commercial secured by real estate | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,288,069	1,216,195
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,181,022	1,095,207
Loans 90+ Days Past Due and Still Accruing	0	0
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	12,062	7,667
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,457	1,585
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	411
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	10,605	5,671
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	1,168,960	1,087,540
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,137,942	1,091,021
Loans 90+ Days Past Due and Still Accruing	0	0
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	5,398	6,631
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	817	1,366
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	152	291
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	4,429	4,974
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	1,132,544	1,084,390
UNITED STATES | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	680,388	755,228
UNITED STATES | Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	680,388	755,228
Loans 90+ Days Past Due and Still Accruing	0	0
UNITED STATES | Non-PCD | Commercial loans | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
UNITED STATES | Non-PCD | Commercial loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
UNITED STATES | Non-PCD | Commercial loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
UNITED STATES | Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
UNITED STATES | Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	$ 680,388	$ 755,228

LOANS (Investment in Loans on N

LOANS (Investment in Loans on Non-Accrual Status) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	$ 57,589	$ 63,399
Non-accrual with no Allowance for Credit Loss	17,143	16,000
Total	74,732	79,399
Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	57,348	60,089
Non-accrual with no Allowance for Credit Loss	13,223	12,636
Total	70,571	72,725
Non-PCD | Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	26,708	27,337
Non-accrual with no Allowance for Credit Loss	9,391	8,759
Total	36,099	36,096
Non-PCD | Mortgage loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	10,041	10,339
Non-accrual with no Allowance for Credit Loss	3,826	3,858
Total	13,867	14,197
Non-PCD | Consumer
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,627	3,362
Non-accrual with no Allowance for Credit Loss	0	14
Total	3,627	3,376
Non-PCD | Consumer | Personal loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	2,958	2,741
Non-accrual with no Allowance for Credit Loss	0	14
Total	2,958	2,755
Non-PCD | Consumer | Credit lines
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	73	35
Non-accrual with no Allowance for Credit Loss	0	0
Total	73	35
Non-PCD | Consumer | Credit cards
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	596	586
Non-accrual with no Allowance for Credit Loss	0	0
Total	596	586
Non-PCD | Auto loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	16,972	19,051
Non-accrual with no Allowance for Credit Loss	6	5
Total	16,978	19,056
PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	241	3,310
Non-accrual with no Allowance for Credit Loss	3,920	3,364
Total	4,161	6,674
PCD | Mortgage loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	241	250
Non-accrual with no Allowance for Credit Loss	0	0
Total	241	250
Puerto Rico | Non-PCD | Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	8,129	8,113
Non-accrual with no Allowance for Credit Loss	9,391	8,759
Total	17,520	16,872
Puerto Rico | Non-PCD | Commercial loans | Commercial secured by real estate
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	5,388	3,553
Non-accrual with no Allowance for Credit Loss	7,326	7,929
Total	12,714	11,482
Puerto Rico | Non-PCD | Commercial loans | Other commercial and industrial
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	2,741	4,560
Non-accrual with no Allowance for Credit Loss	2,065	830
Total	4,806	5,390
Puerto Rico | PCD | Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	0	3,060
Non-accrual with no Allowance for Credit Loss	3,920	3,364
Total	3,920	6,424
Puerto Rico | PCD | Commercial loans | Commercial secured by real estate
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	0	3,060
Non-accrual with no Allowance for Credit Loss	3,328	2,417
Total	3,328	5,477
Puerto Rico | PCD | Commercial loans | Other commercial and industrial
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	0	0
Non-accrual with no Allowance for Credit Loss	592	947
Total	592	947
UNITED STATES | Non-PCD | Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	18,579	19,224
Non-accrual with no Allowance for Credit Loss	0	0
Total	$ 18,579	$ 19,224

LOANS (Troubled-Amortized Cost

LOANS (Troubled-Amortized Cost Basis Debt Restructuring Loan Portfolio) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 9,824	$ 6,894	$ 9,881	$ 6,894
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	415	1,436	1,091	11,448
Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	0	$ 0	0	98
% of Total Class of Financing Receivable		0%
Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	0	$ 117	89	805
Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	123	$ 0	123	4,733
% of Total Class of Financing Receivable		0%
Commercial loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 6,824		$ 6,824
% of Total Class of Financing Receivable		0.96%		0%
Commercial loans | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 665		$ 6,408
% of Total Class of Financing Receivable		0.02%		0.23%
Commercial loans | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 665		$ 6,408
% of Total Class of Financing Receivable		0.02%		0.23%
Commercial loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Combination of Term Extension and Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 4,286
% of Total Class of Financing Receivable		0%		0.61%
Commercial loans | Combination of Term Extension and Principal Forgiveness / Forbearance | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial secured by real estate | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial secured by real estate | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 629		$ 6,328
% of Total Class of Financing Receivable		0.06%		0.56%
Commercial loans | Commercial secured by real estate | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial secured by real estate | Combination of Term Extension and Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial secured by real estate | Combination of Term Extension and Principal Forgiveness / Forbearance | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Other commercial and industrial | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Other commercial and industrial | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 36		$ 80
% of Total Class of Financing Receivable		0%		0.01%
Commercial loans | Other commercial and industrial | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Other commercial and industrial | Combination of Term Extension and Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Other commercial and industrial | Combination of Term Extension and Principal Forgiveness / Forbearance | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial US | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 9,824	$ 6,824	$ 9,824	$ 6,824
% of Total Class of Financing Receivable	1.44%	0.96%	1.44%	0.96%
Commercial loans | Commercial US | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0	$ 0	$ 0
% of Total Class of Financing Receivable	0%	0%	0%	0%
Commercial loans | Commercial US | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0	$ 0	$ 0
% of Total Class of Financing Receivable	0%	0%	0%	0%
Commercial loans | Commercial US | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0	$ 0	$ 0
% of Total Class of Financing Receivable	0%	0%	0%	0%
Commercial loans | Commercial US | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0	$ 0	$ 4,286
% of Total Class of Financing Receivable	0%	0%	0%	0.61%
Mortgage loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0	$ 0	$ 0
% of Total Class of Financing Receivable	0%	0%	0%	0%
Mortgage loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 415	$ 771	$ 1,084	$ 5,040
% of Total Class of Financing Receivable	0.03%	0.05%	0.07%	0.31%
Mortgage loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0	$ 0	$ 98
% of Total Class of Financing Receivable	0%	0%	0%	0.01%
Mortgage loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 117	$ 89	$ 723
% of Total Class of Financing Receivable	0%	0.01%	0.01%	0.05%
Mortgage loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 123	$ 0	$ 123	$ 447
% of Total Class of Financing Receivable	0.01%	0%	0.01%	0.03%
Personal loans | Personal loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 40	$ 26	$ 40
% of Total Class of Financing Receivable		0.01%	0%	0.01%
Personal loans | Personal loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 7	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Personal loans | Personal loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 0	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Personal loans | Personal loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 0	$ 82
% of Total Class of Financing Receivable		0%	0%	0.01%
Personal loans | Personal loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 0	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Auto loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 30	$ 31	$ 30
% of Total Class of Financing Receivable		0%	0%	0%
Auto loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 0	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Auto loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis			$ 0	$ 0
% of Total Class of Financing Receivable			0%	0%
Auto loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 0	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Auto loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis			$ 0	$ 0
% of Total Class of Financing Receivable			0%	0%

LOANS (Effect of Combined Modif

LOANS (Effect of Combined Modifications) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Commercial loans | Commercial secured by real estate | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction		0%		0%
Weighted-Average Term Extension (In months)		14 months		23 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)		$ 0		$ 0
Commercial loans | Commercial US
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	0.73%	1.95%	0.73%
Weighted-Average Term Extension (In months)	0 months	0 months	0 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)	$ 0	$ 0	$ 0
Commercial loans | Commercial US | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction				1.95%
Weighted-Average Term Extension (In months)				31 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)				$ 2,973
Mortgage loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	0%	1.25%	0.38%	1.94%
Weighted-Average Term Extension (In months)	193 months	349 months	185 months	227 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)	$ 10,993	$ 0	$ 10,993	$ 24
Personal loans | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction		4%	5%	2.98%
Weighted-Average Term Extension (In months)		0 months	18 months	81 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)		$ 0	$ 0	$ 0
Auto loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction		3%	3%	3%
Weighted-Average Term Extension (In months)		0 months	0 months	0 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)		$ 0	$ 0	$ 0

LOANS (Loans Held For Investmen

LOANS (Loans Held For Investment That Subsequently Defaulted) (Details) - Mortgage loans - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	$ 107	$ 415
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	0	0
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	107	415
Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	0	0
Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	$ 0	$ 0

LOANS (Aging of Loans Held For

LOANS (Aging of Loans Held For Investment) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	$ 12,617	$ 23,978
Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	171	1,114
30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	26	566
60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	38	133
90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	107	415
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	12,446	22,864
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	10,422	17,518
Commercial loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	10,422	17,518
Mortgage loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	2,082	6,308
Mortgage loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	145	1,114
Mortgage loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	566
Mortgage loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	38	133
Mortgage loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	107	415
Mortgage loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	1,937	5,194
Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	33	122
Consumer | Personal loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	26	0
Consumer | Personal loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	26	0
Consumer | Personal loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Consumer | Personal loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Consumer | Personal loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	7	122
Auto loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	80	30
Auto loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Auto loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Auto loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Auto loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Auto loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	80	30
Puerto Rico | Commercial loans | Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		6,328
Puerto Rico | Commercial loans | Commercial secured by real estate | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Commercial secured by real estate | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Commercial secured by real estate | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Commercial secured by real estate | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Commercial secured by real estate | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		6,328
Puerto Rico | Commercial loans | Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	598	80
Puerto Rico | Commercial loans | Other commercial and industrial | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Puerto Rico | Commercial loans | Other commercial and industrial | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Puerto Rico | Commercial loans | Other commercial and industrial | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Puerto Rico | Commercial loans | Other commercial and industrial | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Puerto Rico | Commercial loans | Other commercial and industrial | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	598	80
Puerto Rico | Commercial loans | Commercial PR
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		6,408
Puerto Rico | Commercial loans | Commercial PR | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Commercial PR | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Commercial PR | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Commercial PR | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Commercial PR | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		6,408
UNITED STATES | Commercial loans | Commercial US
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	9,824	11,110
UNITED STATES | Commercial loans | Commercial US | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
UNITED STATES | Commercial loans | Commercial US | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
UNITED STATES | Commercial loans | Commercial US | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
UNITED STATES | Commercial loans | Commercial US | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
UNITED STATES | Commercial loans | Commercial US | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	$ 9,824	$ 11,110

LOANS (Aging of the Amortized C

LOANS (Aging of the Amortized Cost of Collateral-Dependent Loans Held For Investment) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commercial loans | Commercial secured by real estate | Real Estate | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans secured by real estate	$ 8,583	$ 8,027

LOANS (Credit Quality Indicator

LOANS (Credit Quality Indicators of Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 7,750,576		$ 7,750,576		$ 7,534,379
Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,118,381		3,118,381		3,076,903
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			114		33
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			142		1,280
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			659		2,002
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			5,059		136
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		103
Prior, charge-offs			1,215		10,637
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			7,189		14,191
Mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,483,612		1,483,612		1,562,609
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		4
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			102		755
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			102		759
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	664,308		664,308		620,446
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			389		1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			7,482		10,512
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			9,896		4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			2,858		830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			633		1,384
Prior, charge-offs			980		731
Revolving Loans Amortized Cost Basis, gross charge-offs			2,786		3,789
Total			25,024		23,655
Consumer | Personal loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			389		1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			7,482		10,512
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			9,896		4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			2,858		830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			633		1,384
Prior, charge-offs			980		731
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			22,238		19,866
Consumer | Credit lines
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	10,786		10,786		11,214
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			0		0
Revolving Loans Amortized Cost Basis, gross charge-offs			114		419
Total			114		419
Consumer | Credit cards
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	37,298		37,298		40,314
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			0		0
Revolving Loans Amortized Cost Basis, gross charge-offs			2,004		2,825
Total			2,004		2,825
Consumer | Overdraft
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	407		407		296
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			0		0
Revolving Loans Amortized Cost Basis, gross charge-offs			668		545
Total			668		545
Mortgage and consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			389		1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			7,482		10,516
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			9,896		4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			2,858		830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			633		1,384
Prior, charge-offs			1,082		1,486
Revolving Loans Amortized Cost Basis, gross charge-offs			2,786		3,789
Total			25,126		24,414
Auto loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,484,275		2,484,275		2,274,421
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			1,512		4,090
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			15,216		18,142
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			13,756		10,894
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			6,327		4,008
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			2,811		3,380
Prior, charge-offs			3,526		3,250
Total			43,148		43,764
Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	6,765,832		6,765,832		6,463,127
Total	25,410	$ 24,824	75,463	$ 59,693
Non-PCD | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	344,737		344,737		662,278
Term loans amortized by cost basis, in one year prior to current fiscal year	634,849		634,849		393,072
Term loans amortized by cost basis, in two years prior to current fiscal year	342,675		342,675		387,643
Term loans amortized by cost basis, in three years prior to current fiscal year	362,501		362,501		195,785
Term loans amortized by cost basis, in four years prior to current fiscal year	155,446		155,446		135,588
Prior	268,130		268,130		184,376
Revolving Loans Amortized Cost Basis	891,014		891,014		982,714
Total Loans	2,999,352		2,999,352		2,941,456
Total	139	8,254	7,189	13,125
Non-PCD | Mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	17,904		17,904		24,623
Term loans amortized by cost basis, in one year prior to current fiscal year	19,425		19,425		19,722
Term loans amortized by cost basis, in two years prior to current fiscal year	21,504		21,504		23,484
Term loans amortized by cost basis, in three years prior to current fiscal year	27,461		27,461		15,929
Term loans amortized by cost basis, in four years prior to current fiscal year	18,696		18,696		15,068
Prior	514,131		514,131		530,421
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	619,121		619,121		629,247
Total	37	218	102	610
Non-PCD | Mortgage loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	17,753		17,753		24,623
Term loans amortized by cost basis, in one year prior to current fiscal year	18,784		18,784		19,722
Term loans amortized by cost basis, in two years prior to current fiscal year	21,215		21,215		23,303
Term loans amortized by cost basis, in three years prior to current fiscal year	27,289		27,289		15,821
Term loans amortized by cost basis, in four years prior to current fiscal year	18,507		18,507		14,589
Prior	496,850		496,850		511,182
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	600,398		600,398		609,240
Non-PCD | Mortgage loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	151		151		0
Term loans amortized by cost basis, in one year prior to current fiscal year	641		641		0
Term loans amortized by cost basis, in two years prior to current fiscal year	289		289		181
Term loans amortized by cost basis, in three years prior to current fiscal year	172		172		108
Term loans amortized by cost basis, in four years prior to current fiscal year	189		189		479
Prior	17,281		17,281		19,239
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	18,723		18,723		20,007
Non-PCD | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	215,384		215,384		271,383
Term loans amortized by cost basis, in one year prior to current fiscal year	199,602		199,602		188,200
Term loans amortized by cost basis, in two years prior to current fiscal year	130,523		130,523		68,437
Term loans amortized by cost basis, in three years prior to current fiscal year	46,594		46,594		19,378
Term loans amortized by cost basis, in four years prior to current fiscal year	13,135		13,135		14,526
Prior	10,328		10,328		6,431
Revolving Loans Amortized Cost Basis	48,182		48,182		51,536
Total Loans	663,748		663,748		619,894
Total	8,863	5,894	25,024	16,852
Non-PCD | Consumer | Personal loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	215,384		215,384		271,386
Term loans amortized by cost basis, in one year prior to current fiscal year	199,602		199,602		188,200
Term loans amortized by cost basis, in two years prior to current fiscal year	130,523		130,523		68,437
Term loans amortized by cost basis, in three years prior to current fiscal year	46,594		46,594		19,378
Term loans amortized by cost basis, in four years prior to current fiscal year	13,135		13,135		14,526
Prior	10,328		10,328		6,431
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	615,566		615,566		568,358
Non-PCD | Consumer | Personal loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	215,154		215,154		270,883
Term loans amortized by cost basis, in one year prior to current fiscal year	198,170		198,170		186,612
Term loans amortized by cost basis, in two years prior to current fiscal year	129,656		129,656		68,133
Term loans amortized by cost basis, in three years prior to current fiscal year	46,246		46,246		19,185
Term loans amortized by cost basis, in four years prior to current fiscal year	13,095		13,095		14,460
Prior	10,287		10,287		6,330
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	612,608		612,608		565,603
Non-PCD | Consumer | Personal loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	230		230		503
Term loans amortized by cost basis, in one year prior to current fiscal year	1,432		1,432		1,588
Term loans amortized by cost basis, in two years prior to current fiscal year	867		867		304
Term loans amortized by cost basis, in three years prior to current fiscal year	348		348		193
Term loans amortized by cost basis, in four years prior to current fiscal year	40		40		66
Prior	41		41		101
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	2,958		2,958		2,755
Non-PCD | Consumer | Credit lines
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	10,477		10,477		10,926
Total Loans	10,477		10,477		10,926
Non-PCD | Consumer | Credit lines | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	10,404		10,404		10,891
Total Loans	10,404		10,404		10,891
Non-PCD | Consumer | Credit lines | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	73		73		35
Total Loans	73		73		35
Non-PCD | Consumer | Credit cards
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	37,298		37,298		40,314
Total Loans	37,298		37,298		40,314
Non-PCD | Consumer | Credit cards | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	36,702		36,702		39,728
Total Loans	36,702		36,702		39,728
Non-PCD | Consumer | Credit cards | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	596		596		586
Total Loans	596		596		586
Non-PCD | Consumer | Overdraft
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	407		407		296
Total Loans	407		407		296
Non-PCD | Consumer | Overdraft | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	407		407		296
Total Loans	407		407		296
Non-PCD | Consumer | Overdraft | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Non-PCD | Mortgage and consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	233,288		233,288		296,009
Term loans amortized by cost basis, in one year prior to current fiscal year	219,027		219,027		207,922
Term loans amortized by cost basis, in two years prior to current fiscal year	152,027		152,027		91,921
Term loans amortized by cost basis, in three years prior to current fiscal year	74,055		74,055		35,307
Term loans amortized by cost basis, in four years prior to current fiscal year	31,831		31,831		29,594
Prior	524,459		524,459		536,852
Revolving Loans Amortized Cost Basis	48,182		48,182		51,536
Total Loans	1,282,869		1,282,869		1,249,141
Non-PCD | Auto loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	641,666		641,666		820,277
Term loans amortized by cost basis, in one year prior to current fiscal year	751,534		751,534		631,054
Term loans amortized by cost basis, in two years prior to current fiscal year	519,336		519,336		364,865
Term loans amortized by cost basis, in three years prior to current fiscal year	288,496		288,496		189,059
Term loans amortized by cost basis, in four years prior to current fiscal year	139,938		139,938		152,192
Prior	142,641		142,641		115,083
Total Loans	2,483,611		2,483,611		2,272,530
Total	16,371	$ 10,458	43,148	$ 29,106
Non-PCD | Auto loans | 1-660
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	105,309		105,309		170,639
Term loans amortized by cost basis, in one year prior to current fiscal year	190,610		190,610		190,743
Term loans amortized by cost basis, in two years prior to current fiscal year	171,226		171,226		118,821
Term loans amortized by cost basis, in three years prior to current fiscal year	99,103		99,103		57,087
Term loans amortized by cost basis, in four years prior to current fiscal year	44,862		44,862		41,124
Prior	47,230		47,230		38,570
Total Loans	658,340		658,340		616,984
Non-PCD | Auto loans | 661-699
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	129,267		129,267		169,430
Term loans amortized by cost basis, in one year prior to current fiscal year	134,525		134,525		110,260
Term loans amortized by cost basis, in two years prior to current fiscal year	79,908		79,908		58,166
Term loans amortized by cost basis, in three years prior to current fiscal year	41,118		41,118		25,886
Term loans amortized by cost basis, in four years prior to current fiscal year	18,395		18,395		18,253
Prior	18,164		18,164		16,137
Total Loans	421,377		421,377		398,132
Non-PCD | Auto loans | 700+
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	402,994		402,994		474,005
Term loans amortized by cost basis, in one year prior to current fiscal year	419,461		419,461		323,514
Term loans amortized by cost basis, in two years prior to current fiscal year	262,013		262,013		183,286
Term loans amortized by cost basis, in three years prior to current fiscal year	144,578		144,578		103,886
Term loans amortized by cost basis, in four years prior to current fiscal year	75,105		75,105		88,929
Prior	74,804		74,804		58,779
Total Loans	1,378,955		1,378,955		1,232,399
Non-PCD | Auto loans | No FICO
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	4,096		4,096		6,203
Term loans amortized by cost basis, in one year prior to current fiscal year	6,938		6,938		6,537
Term loans amortized by cost basis, in two years prior to current fiscal year	6,189		6,189		4,592
Term loans amortized by cost basis, in three years prior to current fiscal year	3,697		3,697		2,200
Term loans amortized by cost basis, in four years prior to current fiscal year	1,576		1,576		3,886
Prior	2,443		2,443		1,597
Total Loans	24,939		24,939		25,015
Puerto Rico | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,437,993		2,437,993		2,321,675
Puerto Rico | Commercial PR: | Commercial secured by real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,288,069		1,288,069		1,216,195
Puerto Rico | Non-PCD | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,318,964		2,318,964		2,186,228
Puerto Rico | Non-PCD | Commercial PR: | Commercial secured by real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	138,499		138,499		224,598
Term loans amortized by cost basis, in one year prior to current fiscal year	220,790		220,790		218,436
Term loans amortized by cost basis, in two years prior to current fiscal year	239,193		239,193		203,824
Term loans amortized by cost basis, in three years prior to current fiscal year	199,688		199,688		126,655
Term loans amortized by cost basis, in four years prior to current fiscal year	109,065		109,065		98,962
Prior	222,531		222,531		155,470
Revolving Loans Amortized Cost Basis	51,256		51,256		67,262
Total Loans	1,181,022		1,181,022		1,095,207
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		265
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		94
Prior, charge-offs			7		820
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			7		1,179
Puerto Rico | Non-PCD | Commercial PR: | Commercial secured by real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	138,499		138,499		224,598
Term loans amortized by cost basis, in one year prior to current fiscal year	206,787		206,787		216,205
Term loans amortized by cost basis, in two years prior to current fiscal year	231,378		231,378		195,884
Term loans amortized by cost basis, in three years prior to current fiscal year	191,942		191,942		120,489
Term loans amortized by cost basis, in four years prior to current fiscal year	106,952		106,952		80,671
Prior	200,524		200,524		131,016
Revolving Loans Amortized Cost Basis	49,560		49,560		65,873
Total Loans	1,125,642		1,125,642		1,034,736
Puerto Rico | Non-PCD | Commercial PR: | Commercial secured by real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	13,274		13,274		1,772
Term loans amortized by cost basis, in two years prior to current fiscal year	7,253		7,253		6,554
Term loans amortized by cost basis, in three years prior to current fiscal year	6,284		6,284		5,057
Term loans amortized by cost basis, in four years prior to current fiscal year	914		914		15,676
Prior	12,548		12,548		12,500
Revolving Loans Amortized Cost Basis	93		93		153
Total Loans	40,366		40,366		41,712
Puerto Rico | Non-PCD | Commercial PR: | Commercial secured by real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	729		729		459
Term loans amortized by cost basis, in two years prior to current fiscal year	562		562		1,386
Term loans amortized by cost basis, in three years prior to current fiscal year	1,462		1,462		1,109
Term loans amortized by cost basis, in four years prior to current fiscal year	1,199		1,199		2,615
Prior	9,459		9,459		11,939
Revolving Loans Amortized Cost Basis	1,603		1,603		1,236
Total Loans	15,014		15,014		18,744
Puerto Rico | Non-PCD | Commercial PR: | Commercial secured by real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		15
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		15
Puerto Rico | Non-PCD | Commercial PR: | Commercial secured by real estate | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Puerto Rico | Non-PCD | Commercial PR: | Other commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	146,412		146,412		284,626
Term loans amortized by cost basis, in one year prior to current fiscal year	276,780		276,780		102,948
Term loans amortized by cost basis, in two years prior to current fiscal year	54,708		54,708		114,586
Term loans amortized by cost basis, in three years prior to current fiscal year	98,091		98,091		37,924
Term loans amortized by cost basis, in four years prior to current fiscal year	25,497		25,497		8,424
Prior	16,190		16,190		15,122
Revolving Loans Amortized Cost Basis	520,264		520,264		527,391
Total Loans	1,137,942		1,137,942		1,091,021
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			114		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			142		124
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			267		1,095
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			3,310		89
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		9
Prior, charge-offs			25		1,180
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			3,858		2,497
Puerto Rico | Non-PCD | Commercial PR: | Other commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	146,412		146,412		284,615
Term loans amortized by cost basis, in one year prior to current fiscal year	276,363		276,363		99,522
Term loans amortized by cost basis, in two years prior to current fiscal year	50,926		50,926		113,760
Term loans amortized by cost basis, in three years prior to current fiscal year	52,184		52,184		37,665
Term loans amortized by cost basis, in four years prior to current fiscal year	25,272		25,272		7,438
Prior	15,075		15,075		14,836
Revolving Loans Amortized Cost Basis	516,028		516,028		527,008
Total Loans	1,082,260		1,082,260		1,084,844
Puerto Rico | Non-PCD | Commercial PR: | Other commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		8
Term loans amortized by cost basis, in one year prior to current fiscal year	410		410		2,953
Term loans amortized by cost basis, in two years prior to current fiscal year	3,429		3,429		0
Term loans amortized by cost basis, in three years prior to current fiscal year	45,013		45,013		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		51
Prior	64		64		100
Revolving Loans Amortized Cost Basis	1,557		1,557		0
Total Loans	50,473		50,473		3,112
Puerto Rico | Non-PCD | Commercial PR: | Other commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		3
Term loans amortized by cost basis, in one year prior to current fiscal year	7		7		473
Term loans amortized by cost basis, in two years prior to current fiscal year	353		353		826
Term loans amortized by cost basis, in three years prior to current fiscal year	894		894		259
Term loans amortized by cost basis, in four years prior to current fiscal year	225		225		935
Prior	1,051		1,051		186
Revolving Loans Amortized Cost Basis	2,679		2,679		383
Total Loans	5,209		5,209		3,065
Puerto Rico | Non-PCD | Commercial PR: | Other commercial and industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Puerto Rico | Non-PCD | Commercial PR: | Other commercial and industrial | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
UNITED STATES | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	680,388		680,388		755,228
UNITED STATES | Non-PCD | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	680,388		680,388		755,228
UNITED STATES | Non-PCD | Commercial PR: | Commercial US:
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	59,826		59,826		153,054
Term loans amortized by cost basis, in one year prior to current fiscal year	137,279		137,279		71,688
Term loans amortized by cost basis, in two years prior to current fiscal year	48,774		48,774		69,233
Term loans amortized by cost basis, in three years prior to current fiscal year	64,722		64,722		31,206
Term loans amortized by cost basis, in four years prior to current fiscal year	20,884		20,884		28,202
Prior	29,409		29,409		13,784
Revolving Loans Amortized Cost Basis	319,494		319,494		388,061
Total Loans	680,388		680,388		755,228
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		33
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		1,156
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			392		642
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			1,749		47
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			1,183		8,637
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			3,324		10,515
UNITED STATES | Non-PCD | Commercial PR: | Commercial US: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	41,137		41,137		142,222
Term loans amortized by cost basis, in one year prior to current fiscal year	121,158		121,158		63,885
Term loans amortized by cost basis, in two years prior to current fiscal year	32,797		32,797		69,233
Term loans amortized by cost basis, in three years prior to current fiscal year	58,473		58,473		31,206
Term loans amortized by cost basis, in four years prior to current fiscal year	20,884		20,884		28,202
Prior	23,749		23,749		8,085
Revolving Loans Amortized Cost Basis	258,111		258,111		358,757
Total Loans	556,309		556,309		701,590
UNITED STATES | Non-PCD | Commercial PR: | Commercial US: | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		7,803
Term loans amortized by cost basis, in two years prior to current fiscal year	15,977		15,977		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	61,383		61,383		20,913
Total Loans	77,360		77,360		28,716
UNITED STATES | Non-PCD | Commercial PR: | Commercial US: | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	16,355		16,355		10,832
Term loans amortized by cost basis, in one year prior to current fiscal year	16,121		16,121		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	6,249		6,249		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	5,660		5,660		5,699
Revolving Loans Amortized Cost Basis	0		0		8,391
Total Loans	44,385		44,385		24,922
UNITED STATES | Non-PCD | Commercial PR: | Commercial US: | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	2,334		2,334		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	2,334		2,334		0
UNITED STATES | Non-PCD | Commercial PR: | Commercial US: | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	$ 0		$ 0		$ 0

ALLOWANCE FOR CREDIT LOSSES (Na

ALLOWANCE FOR CREDIT LOSSES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Decrease in allowance for credit losses			$ 400
Provision for credit losses	$ 21,359	$ 16,430	52,061	$ 40,919
Financing receivable, excluding accrued interest, allowance for credit loss, writeoff (recovery)			(51,900)
Increase (decrease) in net charge-offs			16,400
Other commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Net charge off			3,300
Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			4,200
Increase (decrease) in net charge-offs			(7,800)
Auto loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs			16,300
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs			(9,000)
Loss Rate Models
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			14,700
Economic Rate Models
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			7,500
Financing Receivable, Loan Growth
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			$ 45,200

ALLOWANCE FOR CREDIT LOSSES (Sc

ALLOWANCE FOR CREDIT LOSSES (Schedule of Gross Loan and Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period			$ 161,106
Balance at end of period	$ 161,500	$ 157,529	161,500	$ 157,529	$ 161,106
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(7,189)		(14,191)
Balance at end of period	37,024	42,899	37,024	42,899
Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(102)		(759)
Balance at end of period	12,292	16,367	12,292	16,367
Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(25,024)		(23,655)
Balance at end of period	31,314	26,460	31,314	26,460
Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(43,148)		(43,764)
Balance at end of period	80,870	71,803	80,870	71,803
Non-PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	150,849	150,167	152,610	141,841	141,841
Provision for (recapture of) credit losses	21,013	16,660	54,849	40,942
Charge-offs	(25,410)	(24,824)	(75,463)	(59,693)
Recoveries	8,681	6,207	23,137	25,120
Balance at end of period	155,133	148,210	155,133	148,210	152,610
Non-PCD | Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	33,809	48,604	44,041	39,158	39,158
Provision for (recapture of) credit losses	928	1,103	(2,462)	14,857
Charge-offs	(139)	(8,254)	(7,189)	(13,125)
Recoveries	1,479	174	1,687	737
Balance at end of period	36,077	41,627	36,077	41,627	44,041
Non-PCD | Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	6,886	8,670	7,998	9,571	9,571
Provision for (recapture of) credit losses	(31)	(273)	(1,885)	(1,332)
Charge-offs	(37)	(218)	(102)	(610)
Recoveries	72	185	879	735
Balance at end of period	6,890	8,364	6,890	8,364	7,998
Non-PCD | Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	29,432	25,666	27,086	23,264	23,264
Provision for (recapture of) credit losses	9,904	6,026	26,867	16,517
Charge-offs	(8,863)	(5,894)	(25,024)	(16,852)
Recoveries	830	655	2,374	3,524
Balance at end of period	31,303	26,453	31,303	26,453	27,086
Non-PCD | Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	80,722	67,227	73,485	69,848	69,848
Provision for (recapture of) credit losses	10,212	9,804	32,329	10,900
Charge-offs	(16,371)	(10,458)	(43,148)	(29,106)
Recoveries	6,300	5,193	18,197	20,124
Balance at end of period	80,863	71,766	80,863	71,766	73,485
PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	6,452	9,756	8,496	10,832	10,832
Provision for (recapture of) credit losses	289	(218)	(2,527)	(525)
Charge-offs	(738)	(914)	(1,130)	(3,552)
Recoveries	364	695	1,528	2,564
Balance at end of period	6,367	9,319	6,367	9,319	8,496
PCD | Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	789	1,408	1,113	1,388	1,388
Provision for (recapture of) credit losses	751	60	377	1,376
Charge-offs	(663)	(690)	(928)	(2,794)
Recoveries	70	494	385	1,302
Balance at end of period	947	1,272	947	1,272	1,113
PCD | Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	5,642	8,297	7,351	9,359	9,359
Provision for (recapture of) credit losses	(424)	(226)	(2,752)	(1,719)
Charge-offs	(66)	(148)	(178)	(224)
Recoveries	250	80	981	587
Balance at end of period	5,402	8,003	5,402	8,003	7,351
PCD | Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	8	8	7	14	14
Provision for (recapture of) credit losses	(16)	15	(45)	293
Charge-offs	0	(39)	0	(376)
Recoveries	19	23	49	76
Balance at end of period	11	7	11	7	7
PCD | Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	13	43	25	71	71
Provision for (recapture of) credit losses	(22)	(67)	(107)	(475)
Charge-offs	(9)	(37)	(24)	(158)
Recoveries	25	98	113	599
Balance at end of period	$ 7	$ 37	$ 7	$ 37	$ 25

FORECLOSED REAL ESTATE (Details

FORECLOSED REAL ESTATE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Real Estate Owned Activity [Roll Forward]
Foreclosed real estate beginning balance	$ 6,526	$ 10,639	$ 10,780	$ 11,214
Additions	638	1,879	2,689	6,513
Sales	(3,035)	(3,799)	(9,965)	(10,451)
Decline in value	(299)	(538)	(600)	(937)
Other adjustments	589	1,374	1,515	3,216
Foreclosed real estate end balance	$ 4,419	$ 9,555	$ 4,419	$ 9,555

SERVICING ASSETS (Narrative) (D

SERVICING ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Servicing Assets at Fair Value [Line Items]
Carrying value of mortgage servicing asset	$ 68,512		$ 68,512			$ 49,520
Servicing assets	68,512	$ 50,601	68,512	$ 50,601	$ 49,789	$ 49,520	$ 49,966	$ 50,921
Servicing fees on mortgage loans	619	668	2,512	2,251
Conventional Mortgage Loan
Servicing Assets at Fair Value [Line Items]
Servicing fees on mortgage loans	5,000	$ 4,600	14,000	$ 14,400
Mortgage loans held for sale
Servicing Assets at Fair Value [Line Items]
Carrying value of mortgage servicing asset	1,700,000		1,700,000
Servicing assets	$ 21,400		$ 21,400

SERVICING ASSETS (Changes in Se

SERVICING ASSETS (Changes in Serving Rights at Fair Value) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at beginning of period	$ 49,789	$ 49,966	$ 49,520	$ 50,921
Acquired servicing rights	21,427	0	21,427	0
Servicing from mortgage securitization or asset transfers	496	453	1,326	1,818
Changes due to payments on loans	(1,108)	(1,060)	(2,759)	(3,210)
Changes in fair value due to changes in valuation model inputs or assumptions	(2,092)	1,242	(1,002)	1,072
Fair value at end of period	$ 68,512	$ 50,601	$ 68,512	$ 50,601

SERVICING ASSETS (Key Economic

SERVICING ASSETS (Key Economic Assumptions) (Details)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Minimum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	0.85%	3.33%
Discount rate	10%	10%
Maximum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	13.30%	20.40%
Discount rate	15.50%	15.50%

SERVICING ASSETS (Sensitivity o

SERVICING ASSETS (Sensitivity of Current Fair Value of Servicing Assets) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Transfers and Servicing [Abstract]
Carrying value of mortgage servicing asset	$ 68,512	$ 49,520
Weighted average life (in years)	7 years 9 months 18 days	7 years 3 months 18 days
Constant prepayment rate - Decrease in fair value due to 10% adverse change	$ (1,375)	$ (928)
Constant prepayment rate - Decrease in fair value due to 20% adverse change	(2,697)	(1,821)
Discount rate - Decrease in fair value due to 10% adverse change	(2,948)	(1,999)
Discount rate - Decrease in fair value due to 20% adverse change	$ (5,670)	$ (3,856)

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Goodwill) (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 84,241
Goodwill, Ending Balance	84,241
Banking
Goodwill [Roll Forward]
Goodwill, Beginning Balance	84,063
Goodwill, Ending Balance	84,063
Wealth Management
Goodwill [Roll Forward]
Goodwill, Beginning Balance	178
Goodwill, Ending Balance	178
Treasury
Goodwill [Roll Forward]
Goodwill, Beginning Balance	0
Goodwill, Ending Balance	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Increase (decrease) in carrying amount of goodwill	$ 0	$ 0	$ 0	$ 0
Accumulated impairment losses	0		0		$ 0
Impairment of goodwill			0		$ 0
Intangible asset impairment			0
Amortization of intangible assets	$ 1,500	$ 1,700	$ 4,434	$ 5,174

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Core Deposit, Customer Relationship and Other Intangibles) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 54,200	$ 54,200
Accumulated Amortization	37,940	33,506
Net Carrying Value	16,260	20,694
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	41,507	41,507
Accumulated Amortization	29,055	25,659
Net Carrying Value	12,452	15,848
Customer relationship intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,693	12,693
Accumulated Amortization	8,885	7,847
Net Carrying Value	$ 3,808	$ 4,846

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS (Estimated Amortization of Other Intangible Assets) (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 5,913
2025	4,927
2026	3,942
2027	2,956
2028	1,971
Thereafter	$ 985

ACCRUED INTEREST RECEIVABLE A_3

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Schedule of Accrued Interest Receivable) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 70,367	$ 71,400
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	60,086	63,526
Investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 10,281	$ 7,874

ACCRUED INTEREST RECEIVABLE A_4

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other assets [Line Items]
Prepaid expenses	$ 98,931	$ 63,040
Prepaid municipal, property, and income taxes	87,600	54,700
Other repossessed assets	6,969	4,032
COVID-19 and Hurricane Fiona Deferral Program Loans
Other assets [Line Items]
Accrued interest receivable	18,800	20,200
COVID-19 and Hurricane Fiona Deferral Program Loans | Accrued Income Receivable
Other assets [Line Items]
Allowance for credit losses	103	85
COVID-19 and Hurricane Fiona Deferral Program Loans | Current
Other assets [Line Items]
Accrued interest receivable	$ 18,000	$ 18,200

ACCRUED INTEREST RECEIVABLE A_5

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Other Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accrued Interest Receivable and Other Assets [Abstract]
Prepaid expenses	$ 98,931	$ 63,040
Other repossessed assets	6,969	4,032
Accounts receivable and other assets	62,052	47,859
Other assets	$ 167,952	$ 114,931

DEPOSITS AND RELATED INTEREST_2

DEPOSITS AND RELATED INTEREST (Deposits by Components) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deposits and Related Interest [Abstract]
Non-interest-bearing demand deposits	$ 2,534,363	$ 2,537,431
Interest-bearing savings and demand deposits	5,345,256	5,601,099
Retail certificates of deposit	1,162,870	1,083,316
Institutional certificates of deposit	490,532	378,143
Total core deposits	9,533,021	9,599,989
Brokered deposits	75,631	162,180
Total deposits	$ 9,608,652	$ 9,762,169

DEPOSITS AND RELATED INTEREST_3

DEPOSITS AND RELATED INTEREST (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deposits and Related Interest [Line Items]
Uninsured deposits	$ 5,005,000	$ 4,885,000
Deposits percent	52%	50%
Weighted average interest rate of deposits	1.51%	0.88%
Time deposits in denominations in excess of $250,000	$ 937,700	$ 747,200
Deposits	9,608,652	9,762,169
Public funds collateral investments	1,672,000	1,645,000
Accrued interest on time deposits	2,000	3,000
Overdrafts in demand deposit accounts	678	564
Puerto Rico | Government
Deposits and Related Interest [Line Items]
Deposits	$ 1,574,000	$ 1,616,000

DEPOSITS AND RELATED INTEREST_4

DEPOSITS AND RELATED INTEREST (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Deposits and Related Interest [Abstract]
Demand and savings deposits	$ 25,921	$ 13,772	$ 78,668	$ 32,864
Certificates of deposit	12,423	7,047	34,280	16,368
Total	$ 38,344	$ 20,819	$ 112,948	$ 49,232

DEPOSITS AND RELATED INTEREST_5

DEPOSITS AND RELATED INTEREST (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Year-end amount, Within One Year
Three months or less	$ 327,472	$ 457,533
Over 3 months through 6 months	415,505	195,902
Over 6 months through 1 year	511,131	329,758
Within one year	1,254,108	983,193
Year-end amount, after one year:
Over 1 through 2 years	325,694	467,348
Over 2 through 3 years	69,395	94,450
Over 3 through 4 years	40,191	29,514
Over 4 through 5 years	37,111	45,575
Over 5 years	487	608
Certificates of deposit	1,726,986	1,620,688
Uninsured amount, within one year:
Three months or less	134,086	115,392
Over 3 months through 6 months	247,212	61,245
Over 6 months through 1 year	183,129	113,524
Within one year	564,427	290,161
Uninsured amount, after one year:
Over 1 through 2 years	62,099	201,478
Over 2 through 3 years	14,263	13,971
Over 3 through 4 years	2,751	1,379
Over 4 through 5 years	5,439	4,665
Over 5 years	0	0
Uninsured amount	$ 648,979	$ 511,654

BORROWINGS AND RELATED INTERE_3

BORROWINGS AND RELATED INTEREST (Advances from the Federal Home Loan Bank of New York) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Additional borrowing capacity	$ 402,800	$ 446,000
Weighted average period remaining maturity of FHLB advances	7 months	1 year 2 months 12 days
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Minimum amount of qualifying collateral	110%
Accrued interest payable	$ 827	$ 768
Advances from the Federal Home Loan Bank | Asset Pledged as Collateral
Debt Instrument [Line Items]
Total loans	$ 874,300	$ 1,000,000

BORROWINGS AND RELATED INTERE_4

BORROWINGS AND RELATED INTEREST (Schedule of Federal Home Loan Bank Advances And Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 270,827	$ 200,768
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	270,000	200,000
Advances from the Federal Home Loan Bank | Over 90 days to one year
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	200,000	0
Advances from the Federal Home Loan Bank | Over one to three years
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	55,000	200,000
Advances from the Federal Home Loan Bank | Over 90 days to one year
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	15,000	0
Federal Loan Home Bank Advances Short Term Period | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	215,000	$ 0
Weighted average interest rate of FHLB advances		4.56%
Long-Term Fixed-Rate Advances from FHLB | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 55,000	$ 200,000
Weighted average interest rate of FHLB advances	3.79%	4.52%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Statutory tax rate (as a percent)			37.50%
Valuation allowance	$ 6,000		$ 6,000		$ 7,000
Deferred tax asset, net	4,100		4,100		4,900
Deferred tax liability, valuation allowance	726		726		569
Deferred tax liabilities, net	57,503		57,503		22,444
Decrease in valuation allowance			$ 850
Effective tax rate (as a percent)			26.40%	31.30%
Expected effective tax rate for 2024			26.81%
Unrecognized tax benefits	987		$ 987		$ 936
Income tax expense	$ 14,784	$ 21,025	$ 53,138	$ 61,541

REGULATORY CAPITAL REQUIREMEN_3

REGULATORY CAPITAL REQUIREMENTS (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
OFG Bancorp
Amount
Actual - Total capital to risk-weighted assets	$ 1,371,041	$ 1,278,537
Actual - Tier 1 capital to risk-weighted assets	1,260,944	1,174,205
Actual - Common equity tier 1 capital to risk-weighted assets	1,260,944	1,174,205
Actual - Tier 1 capital to average total assets	1,260,944	1,174,205
Minimum Capital Requirement - Total capital to risk-weighted assets	921,082	873,369
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	745,638	707,013
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	614,054	582,246
Minimum Capital Requirement - Tier 1 capital to average total assets	453,398	425,911
Minimum to be Well Capitalized - Total capital to risk-weighted assets	877,221	831,780
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	701,777	665,424
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	570,193	540,657
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 566,748	$ 532,389
Ratio
Actual - total capital to risk-weighted assets	0.1563	0.1537
Actual - Tier 1 capital to risk-weighted assets	0.1437	0.1412
Actual - Common equity tier 1 capital to risk-weighted assets	0.1437	0.1412
Actual - Tier 1 capital to average total assets	0.1112	0.1103
Minimum Capital Requirement - Total capital to risk-weighted assets	0.1050	0.1050
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	0.0850	0.0850
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	0.0700	0.0700
Minimum Capital Requirement - Tier 1 capital to average total assets	0.0400	0.0400
Minimum to be Well Capitalized - Total capital to risk-weighted assets	0.1000	0.1000
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	0.0800	0.0800
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	0.0650	0.0650
Minimum to be Well Capitalized - Tier 1 capital to average total assets	0.0500	0.0500
Bank
Amount
Actual - Total capital to risk-weighted assets	$ 1,275,292	$ 1,179,164
Actual - Tier 1 capital to risk-weighted assets	1,165,904	1,075,487
Actual - Common equity tier 1 capital to risk-weighted assets	1,165,904	1,075,487
Actual - Tier 1 capital to average total assets	1,165,904	1,075,487
Minimum Capital Requirement - Total capital to risk-weighted assets	915,051	867,797
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	740,756	702,503
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	610,034	578,532
Minimum Capital Requirement - Tier 1 capital to average total assets	449,116	421,660
Minimum to be Well Capitalized - Total capital to risk-weighted assets	871,478	826,474
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	697,182	661,179
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	566,460	537,208
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 561,395	$ 527,075
Ratio
Actual - total capital to risk-weighted assets	0.1463	0.1427
Actual - Tier 1 capital to risk-weighted assets	0.1338	0.1301
Actual - Common equity tier 1 capital to risk-weighted assets	0.1338	0.1301
Actual - Tier 1 capital to average total assets	0.1038	0.1020
Minimum Capital Requirement - Total capital to risk-weighted assets	0.1050	0.1050
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	0.0850	0.0850
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	0.0700	0.0700
Minimum Capital Requirement - Tier 1 capital to average total assets	0.0400	0.0400
Minimum to be Well Capitalized - Total capital to risk-weighted assets	0.1000	0.1000
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	0.0800	0.0800
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	0.0650	0.0650
Minimum to be Well Capitalized - Tier 1 capital to average total assets	0.0500	0.0500

STOCKHOLDERS_ EQUITY (Narrative

STOCKHOLDERS’ EQUITY (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jan. 31, 2024	Dec. 31, 2023	Jan. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Common stock	$ 59,885,000		$ 59,885,000			$ 59,885,000
Legal surplus	164,990,000		164,990,000			150,967,000
Transfer to legal surplus	$ 4,400,000	$ 4,200,000	$ 14,000,000	$ 12,900,000
Shares repurchased during period (in shares)	2,600	73,600	671,800	743,699
Common shares repurchased as part of the stock repurchase programs	$ 104,000	$ 2,186,000	$ 24,386,000	$ 18,653,000
Share repurchased, average price per share (in dollars per share)			$ 36.30
Shares purchased (in shares)			0	0
January 2022 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount							$ 100,000,000
Stock repurchase program, remaining authorized repurchase amount	17,200,000		$ 17,200,000
Shares repurchased during period (in shares)				743,699
Common shares repurchased as part of the stock repurchase programs				$ 18,700,000
Share repurchased, average price per share (in dollars per share)				$ 25.08
January 2024 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	50,000,000		50,000,000		$ 50,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 25,600,000		$ 25,600,000
Stock repurchase program, remaining number of shares authorized to be repurchased (in shares)	570,223		570,223
Share price (in dollars per share)	$ 44.92		$ 44.92
Common stock
Equity, Class of Treasury Stock [Line Items]
Accumulated common stock issuance costs charged against paid in capital	$ 13,600,000		$ 13,600,000			$ 13,600,000

STOCKHOLDERS_ EQUITY (Activity

STOCKHOLDERS’ EQUITY (Activity of Common Shares Held in Treasury) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Shares
Beginning of period (in shares)	13,323,702	12,809,047	12,820,078	12,303,859
Common shares used upon lapse of restricted stock units and options (in shares)	0	(55,219)	(165,576)	(220,130)
Common shares repurchased as part of the stock repurchase programs (in shares)	2,600	73,600	671,800	743,699
End of period (in shares)	13,326,302	12,827,428	13,326,302	12,827,428
Dollar Amount
Beginning of period	$ 250,951	$ 226,230	$ 228,350	$ 211,135
Common shares used upon lapse of restricted stock units and options	0	(42)	(1,681)	(1,414)
Common shares repurchased as part of the stock repurchase programs	104	2,186	24,386	18,653
End of period	$ 251,055	$ 228,374	$ 251,055	$ 228,374

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Accumulated Comprehensive Income, Net of Income Tax) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of income taxes	$ (32,990)	$ (67,013)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of income taxes	(32,990)	(67,013)
Quarter Ended September 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss on securities available-for-sale	(37,480)	(78,497)
Income tax effect of unrealized loss on securities available-for-sale	4,490	11,484
Net unrealized loss on securities available-for-sale	$ (32,990)	$ (67,013)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period			$ 1,193,480
Other comprehensive (loss) income before reclassifications		$ (40,489)		$ (38,518)
Amounts reclassified out of accumulated other comprehensive loss		2,376		4,250
Other comprehensive income (loss)		(38,113)		(34,268)
Balance at end of period	$ 1,318,132	1,095,463	1,318,132	1,095,463
Quarter Ended September 30, 2024
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(86,494)	(89,564)	(67,013)	(93,409)
Balance at end of period	(32,990)	(127,677)	(32,990)	(127,677)
Quarter Ended September 30, 2024
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(86,494)	(89,639)	(67,013)	(93,663)
Other comprehensive (loss) income before reclassifications	53,502	(38,040)	34,024	(32,871)
Amounts reclassified out of accumulated other comprehensive loss	2	2	(1)	(1,143)
Other comprehensive income (loss)	53,504	(38,038)	34,023	(34,014)
Balance at end of period	$ (32,990)	(127,677)	$ (32,990)	(127,677)
Net unrealized gain on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		75		254
Other comprehensive (loss) income before reclassifications		(2,449)		(5,647)
Amounts reclassified out of accumulated other comprehensive loss		2,374		5,393
Other comprehensive income (loss)		(75)		(254)
Balance at end of period		$ 0		$ 0

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE LOSS (Reclassifications Out of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net interest expense	$ 147,875	$ 141,787	$ 439,302	$ 417,328
Income tax expense	14,784	21,025	53,138	61,541
Net income	47,000	44,873	147,823	135,275
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	2	2,376	(1)	4,250
Reclassification out of Accumulated Other Comprehensive Income | Quarter Ended September 30, 2024
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net loss on sale of securities	0	0	(7)	(1,149)
Income tax expense	2	2	6	6
Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income | Net unrealized gain on cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net interest expense	$ 0	$ 2,374	$ 0	$ 5,393

EARNINGS PER COMMON SHARE (Sche

EARNINGS PER COMMON SHARE (Schedule of Earnings Per Share Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 47,000	$ 44,873	$ 147,823	$ 135,275
Average common shares outstanding (in shares)	46,560	47,114	46,868	47,325
Average potential common shares-options (in shares)	286	278	243	280
Total weighted average common shares outstanding and equivalents (in shares)	46,846	47,392	47,111	47,605
Earnings per common share - basic (in dollars per share)	$ 1.01	$ 0.95	$ 3.15	$ 2.86
Earnings per common share - diluted (in dollars per share)	$ 1	$ 0.95	$ 3.14	$ 2.84

EARNINGS PER COMMON SHARE (Narr

EARNINGS PER COMMON SHARE (Narrative) (Details) - $ / shares	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Earnings Per Share [Abstract]
Weighted average stock options with an anti dilutive effect excluded from calculation of earnings per share (in shares)	0		245	507	1,791
Quarterly common stock cash dividend (in dollars per share)	$ 0.25	$ 0.25	$ 0.22	$ 0.75	$ 0.66	$ 0.22

GUARANTEES (Narrative) (Details

GUARANTEES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Guarantor Obligations [Line Items]
Acquired standby letters of credit and financial guarantees	$ 23,900		$ 23,900		$ 24,000
Repurchased loans not subject to credit recourse provision	1,400	$ 2,500	3,300	$ 8,900
Amount of serviced loans	5,600,000		5,600,000		5,600,000
Funds advanced to investors under servicing agreements	4,500		4,500		4,200
Recourse
Guarantor Obligations [Line Items]
Loans sold with recourse	92,559		92,559		98,685
Liability for estimated credit losses to loans sold with credit recourse	41		41		102
Repurchased GNMA	14	251	254	861
Gain (Loss) on early extinguishment of debt	18	25	60	147
Nonrecourse
Guarantor Obligations [Line Items]
Gain (Loss) on early extinguishment of debt	(222)	$ 199	(145)	$ 103
Nonrecourse | Loan serviced under representation warranties
Guarantor Obligations [Line Items]
Loans sold with recourse	$ 356		$ 356		$ 405

GUARANTEES (Changes in Liabilit

GUARANTEES (Changes in Liability of Estimated Loss from Credit Recourse Agreement) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Balance at beginning of period	$ 59	$ 150	$ 102	$ 147
Net recoveries (charge-offs/terminations)	(18)	25	(61)	28
Balance at end of period	$ 41	$ 175	$ 41	$ 175

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Credit-Related Financial Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Commitments to extend credit	$ 1,397,592	$ 1,255,695
Commercial letters of credit	817	119
Standby letters of credit and financial guarantees	23,885	23,970
Recourse
Other Commitments [Line Items]
Loans sold with recourse	$ 92,559	$ 98,685

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Allowance for credit losses for off-balance sheet	$ 876	$ 1,200
Other non-credit commitments	17,400	18,900
Legal Contingencies
Other Commitments [Line Items]
Contingency loss accrued liability	522	817
Potential Losses, Operational Errors, Theft and Uncollectible Receivables
Other Commitments [Line Items]
Contingency loss accrued liability	152	1,400
Technology Commitments
Other Commitments [Line Items]
Commitments for capital expenditures in technology	$ 1,000	$ 7,800

OPERATING LEASES (Operating Lea

OPERATING LEASES (Operating Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessee Disclosure [Abstract]
Lease costs	$ 2,324	$ 5,130	$ 7,238	$ 7,738
Variable lease costs	465	674	1,246	1,021
Short-term lease costs	123	335	264	483
Lease income	(13)	(62)	(64)	(79)
Total lease costs	$ 2,899	$ 6,077	$ 8,684	$ 9,163

OPERATING LEASES (Operating L_2

OPERATING LEASES (Operating Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Right-of-use assets	$ 20,355	$ 21,725
Lease Liabilities	$ 22,604	$ 24,029

OPERATING LEASES (Operating L_3

OPERATING LEASES (Operating Lease Terms) (Details)	Sep. 30, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Weighted-average remaining lease term (in years)	4 years 10 months 24 days	5 years 1 month 6 days
Weighted-average discount rate (percentage)	7.60%	7%

OPERATING LEASES (Future Minimu

OPERATING LEASES (Future Minimum Payments for Operating Leases and Present Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
2024	$ 2,152
2025	7,232
2026	5,063
2027	4,146
2028	3,239
Thereafter	5,382
Total lease payments	27,214
Less imputed interest	4,610
Present value of lease liabilities	$ 22,604	$ 24,029

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Narrative) (Details) $ in Thousands	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value	$ 0	$ 0
Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value	$ 0	$ 0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of security categorized as other debt | security	1

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities on Recurring and Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 18		$ 13
Money market investments	5,885		4,623	$ 4,073
Servicing assets	68,512	$ 49,789	49,520	50,601	$ 49,966	$ 50,921
Foreclosed real estate	4,419	$ 6,526	10,780	$ 9,555	$ 10,639	$ 11,214
Other repossessed assets	6,969		4,032
Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	2,230,102		2,099,264
Trading securities	18		13
Money market investments	5,885		4,623
Servicing assets	68,512		49,520
Total	2,304,517		2,153,420
Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	8,583		8,027
Foreclosed real estate	4,419		10,780
Other repossessed assets	6,969		4,032
Mortgage loans held for sale	10,908
Other loans held for sale	4,716		28,345
Total	35,595		51,184
Level 1 | Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	1,136		296,799
Trading securities	0		0
Money market investments	5,885		4,623
Servicing assets	0		0
Total	7,021		301,422
Level 1 | Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	0		0
Foreclosed real estate	0		0
Other repossessed assets	0		0
Mortgage loans held for sale	0
Other loans held for sale	0		0
Total	0		0
Level 2 | Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	2,228,966		1,802,465
Trading securities	18		13
Money market investments	0		0
Servicing assets	0		0
Total	2,228,984		1,802,478
Level 2 | Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	0		0
Foreclosed real estate	0		0
Other repossessed assets	0		0
Mortgage loans held for sale	0
Other loans held for sale	0		0
Total	0		0
Level 3 | Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	0		0
Trading securities	0		0
Money market investments	0		0
Servicing assets	68,512		49,520
Total	68,512		49,520
Level 3 | Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	8,583		8,027
Foreclosed real estate	4,419		10,780
Other repossessed assets	6,969		4,032
Mortgage loans held for sale	10,908
Other loans held for sale	4,716		28,345
Total	$ 35,595		$ 51,184

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Reconciliation of Assets and Liabilities Using Significant Unobservable Inputs (Level 3)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag			Gains (losses) included in earnings	Gains (losses) included in earnings
Level 3 | Recurring fair value measurements
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period		$ 50,379		$ 51,327
New instruments acquired		453		1,818
Principal repayments and amortization		(1,060)		(3,210)
Instrument converted to equity security		(413)		(406)
Gains (losses) included in earnings		1,242		1,072
Balance at end of period		50,601		50,601
Level 3 | Recurring fair value measurements | Other debt securities available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period		413		406
New instruments acquired		0		0
Principal repayments and amortization		0		0
Instrument converted to equity security		(413)		(406)
Gains (losses) included in earnings		0		0
Balance at end of period		0		0
Level 3 | Recurring fair value measurements | Servicing Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 49,789	49,966	$ 49,520	50,921
New instruments acquired	21,923	453	22,753	1,818
Principal repayments and amortization	(1,108)	(1,060)	(2,759)	(3,210)
Instrument converted to equity security	0	0	0	0
Gains (losses) included in earnings	(2,092)	1,242	(1,002)	1,072
Balance at end of period	$ 68,512	$ 50,601	$ 68,512	$ 50,601

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Qualitative Information for Assets and Liabilities) (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022
Fair Value
Servicing assets	$ 68,512	$ 50,601	$ 49,520	$ 49,789	$ 49,966	$ 50,921
Foreclosed real estate	4,419	$ 9,555	10,780	$ 6,526	$ 10,639	$ 11,214
Other repossessed assets	$ 6,969		4,032
Minimum
Unobservable Input
Constant prepayment rate	0.85%	3.33%
Discount rate	10%	10%
Maximum
Unobservable Input
Constant prepayment rate	13.30%	20.40%
Discount rate	15.50%	15.50%
Mortgage loans held for sale
Fair Value
Servicing assets	$ 21,400
Level 3 | Servicing Assets | Cash flow valuation
Fair Value
Servicing assets	$ 68,512		$ 49,520
Level 3 | Servicing Assets | Cash flow valuation | Minimum
Unobservable Input
Constant prepayment rate	0.85%		1.35%
Discount rate	10%		10%
Level 3 | Servicing Assets | Cash flow valuation | Maximum
Unobservable Input
Constant prepayment rate	13.30%		17.34%
Discount rate	15.50%		15.50%
Level 3 | Servicing Assets | Cash flow valuation | Weighted Average
Unobservable Input
Constant prepayment rate	6.25%		6.12%
Discount rate	11.61%		11.45%
Level 3 | Collateral dependent loans | Fair value of property or collateral
Fair Value
Collateral dependent loans	$ 8,583		$ 8,027
Level 3 | Collateral dependent loans | Fair value of property or collateral | Minimum
Unobservable Input
Appraised value less disposition costs	10.20%		10.20%
Level 3 | Collateral dependent loans | Fair value of property or collateral | Maximum
Unobservable Input
Appraised value less disposition costs	33.20%		33.20%
Level 3 | Collateral dependent loans | Fair value of property or collateral | Weighted Average
Unobservable Input
Appraised value less disposition costs	17.04%		17%
Level 3 | Foreclosed real estate | Fair value of property or collateral
Fair Value
Foreclosed real estate	$ 4,419		$ 10,780
Level 3 | Foreclosed real estate | Fair value of property or collateral | Minimum
Unobservable Input
Appraised value less disposition costs	10%		10.20%
Level 3 | Foreclosed real estate | Fair value of property or collateral | Maximum
Unobservable Input
Appraised value less disposition costs	33%		33.20%
Level 3 | Foreclosed real estate | Fair value of property or collateral | Weighted Average
Unobservable Input
Appraised value less disposition costs	11.10%		12.67%
Level 3 | Other repossessed assets | Fair value of property or collateral
Fair Value
Other repossessed assets	$ 6,969		$ 4,032
Level 3 | Other repossessed assets | Fair value of property or collateral | Minimum
Unobservable Input
Estimated net realizable value	37%		31%
Level 3 | Other repossessed assets | Fair value of property or collateral | Maximum
Unobservable Input
Estimated net realizable value	71%		77%
Level 3 | Other repossessed assets | Fair value of property or collateral | Weighted Average
Unobservable Input
Estimated net realizable value	56.32%		57.72%
Level 3 | Mortgage loans held for sale | Fair value of property or collateral
Fair Value
Mortgage loans held for sale	$ 10,908
Level 3 | Mortgage loans held for sale | Fair value of property or collateral | Minimum
Unobservable Input
Estimated net realizable value	94.06%
Level 3 | Mortgage loans held for sale | Fair value of property or collateral | Maximum
Unobservable Input
Estimated net realizable value	102.10%
Level 3 | Mortgage loans held for sale | Fair value of property or collateral | Weighted Average
Unobservable Input
Estimated net realizable value	98.56%
Level 3 | Other loans held for sale | Bids or sales contract prices
Fair Value
Other loans held for sale	$ 4,716		$ 28,345
Level 3 | Other loans held for sale | Bids or sales contract prices | Minimum
Unobservable Input
Estimated market value	99.75%		52%
Level 3 | Other loans held for sale | Bids or sales contract prices | Maximum
Unobservable Input
Estimated market value	101.21%		103.20%
Level 3 | Other loans held for sale | Bids or sales contract prices | Weighted Average
Unobservable Input
Estimated market value	101.12%		84.80%

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Estimated Fair Value and Carrying Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Financial Assets:
Trading securities	$ 18		$ 13
Investment securities held-to-maturity	284,249		490,764
Servicing assets	68,512	$ 49,789	49,520	$ 50,601	$ 49,966	$ 50,921
Level 1 | Fair Value
Financial Assets:
Cash and cash equivalents	680,587		748,173
Investment securities available-for-sale	1,136		296,799
Level 1 | Carrying Value
Financial Assets:
Cash and cash equivalents	680,587		748,173
Investment securities available-for-sale	1,136		296,799
Level 2 | Fair Value
Financial Assets:
Trading securities	18		13
Investment securities available-for-sale	2,228,966		1,802,465
Investment securities held-to-maturity	249,198		455,709
Federal Home Loan Bank (FHLB) stock	18,430		14,488
Equity securities	27,262		23,981
Level 2 | Carrying Value
Financial Assets:
Trading securities	18		13
Investment securities available-for-sale	2,228,966		1,802,465
Investment securities held-to-maturity	297,713		514,024
Federal Home Loan Bank (FHLB) stock	18,430		14,488
Equity securities	27,262		23,981
Level 3 | Fair Value
Financial Assets:
Investment securities held-to-maturity	35,051		35,055
Total loans (including loans held-for-sale)	7,516,112		7,282,214
Accrued interest receivable	70,367		71,400
Servicing assets	68,512		49,520
Accounts receivable and other assets	62,052		47,859
Financial Liabilities:
Deposits	9,651,703		9,767,068
Advances from FHLB	270,045		199,184
Other borrowings	0		2
Accrued expenses and other liabilities	157,609		115,985
Level 3 | Carrying Value
Financial Assets:
Investment securities held-to-maturity	35,000		35,000
Total loans (including loans held-for-sale)	7,604,700		7,401,618
Accrued interest receivable	70,367		71,400
Servicing assets	68,512		49,520
Accounts receivable and other assets	62,052		47,589
Financial Liabilities:
Deposits	9,608,652		9,762,169
Advances from FHLB	270,827		200,768
Other borrowings	0		2
Accrued expenses and other liabilities	$ 157,609		$ 115,985

BANKING AND FINANCIAL SERVICE_3

BANKING AND FINANCIAL SERVICE REVENUES - Schedule of Commissions and Fees Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Banking service revenues:
Electronic banking fees	$ 12,062	$ 13,447	$ 40,469	$ 40,416
Checking accounts fees	1,983	2,233	6,043	6,638
Savings accounts fees	317	333	932	993
Credit life commissions	93	90	170	314
Branch service commissions	281	352	903	1,098
Servicing and other loan fees	619	668	2,512	2,251
International fees	194	174	549	536
Miscellaneous income	5	6	16	10
Total banking service revenues	15,554	17,303	51,594	52,256
Wealth management revenue:
Insurance income	3,979	3,607	11,968	11,146
Broker fees	2,289	1,945	6,388	5,525
Trust fees	2,181	2,139	6,640	6,298
Other fees	0	0	0	36
Total wealth management revenue	8,449	7,691	24,996	23,005
Mortgage banking activities:
Net servicing fees	1,852	4,764	9,904	12,256
Net gains on sale of mortgage loans and valuation	611	450	1,983	2,009
Net gain (loss) on repurchased loans and other	(195)	196	(62)	268
Total mortgage banking activities	2,268	5,410	11,825	14,533
Total banking and financial service revenues	$ 26,271	$ 30,404	$ 88,415	$ 89,794

BANKING AND FINANCIAL SERVICE_4

BANKING AND FINANCIAL SERVICE REVENUES - Narrative (Details) $ in Billions	3 Months Ended
	Sep. 30, 2024 USD ($)
Banking and Thrift, Interest [Abstract]
Asset threshold	$ 10

BUSINESS SEGMENTS (Results of O

BUSINESS SEGMENTS (Results of Operations and Selected Financial Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Interest income	$ 189,030	$ 165,708	$ 560,114	$ 472,681
Interest expense	(41,155)	(23,921)	(120,812)	(55,353)
Net interest income	147,875	141,787	439,302	417,328
Provision for (recapture of) credit losses	21,359	16,430	52,061	40,919
Non-interest income, net	26,868	30,699	89,692	89,673
Non-interest expenses	(91,600)	(90,158)	(275,972)	(269,266)
Intersegment revenue	0	0	0	0
Intersegment expenses	0	0	0	0
Income before income taxes	61,784	65,898	200,961	196,816
Income tax expense	14,784	21,025	53,138	61,541
Net income	47,000	44,873	147,823	135,275
Total assets	11,461,382	10,257,138	11,461,382	10,257,138	$ 11,344,453
Total
Segment Reporting Information [Line Items]
Interest income	190,073	169,580	563,188	485,982
Interest expense	(42,198)	(27,793)	(123,886)	(68,654)
Net interest income	147,875	141,787	439,302	417,328
Provision for (recapture of) credit losses	21,359	16,430	52,061	40,919
Non-interest income, net	26,868	30,699	89,692	89,673
Non-interest expenses	(91,600)	(90,158)	(275,972)	(269,266)
Income before income taxes	61,784	65,898	200,961	196,816
Income tax expense	14,784	21,025	53,138	61,541
Net income	47,000	44,873	147,823	135,275
Total assets	12,737,502	11,300,199	12,737,502	11,300,199
Total | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	387	487	1,226	1,610
Intersegment expenses	(387)	(487)	(1,226)	(1,610)
Total | Banking
Segment Reporting Information [Line Items]
Interest income	155,922	145,667	462,598	418,091
Interest expense	(37,990)	(20,662)	(111,493)	(48,867)
Net interest income	117,932	125,005	351,105	369,224
Provision for (recapture of) credit losses	21,427	16,371	52,241	40,828
Non-interest income, net	19,117	23,211	66,905	68,190
Non-interest expenses	(86,753)	(85,536)	(260,249)	(254,777)
Income before income taxes	29,256	46,796	106,746	143,419
Income tax expense	14,742	20,994	53,004	61,463
Net income	14,514	25,802	53,742	81,956
Total assets	9,549,261	8,742,283	9,549,261	8,742,283
Total | Banking | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	387	487	1,226	1,610
Intersegment expenses	0	0	0	0
Total | Wealth Management
Segment Reporting Information [Line Items]
Interest income	6	8	19	19
Interest expense	0	0	0	0
Net interest income	6	8	19	19
Provision for (recapture of) credit losses	0	0	0	0
Non-interest income, net	7,750	7,487	22,779	22,631
Non-interest expenses	(4,016)	(3,778)	(13,161)	(11,871)
Income before income taxes	3,516	3,380	8,903	9,683
Income tax expense	2	(4)	10	16
Net income	3,514	3,384	8,893	9,667
Total assets	36,779	34,380	36,779	34,380
Total | Wealth Management | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	0	0	0	0
Intersegment expenses	(224)	(337)	(734)	(1,096)
Total | Treasury
Segment Reporting Information [Line Items]
Interest income	34,145	23,905	100,571	67,872
Interest expense	(4,208)	(7,131)	(12,393)	(19,787)
Net interest income	29,937	16,774	88,178	48,085
Provision for (recapture of) credit losses	(68)	59	(180)	91
Non-interest income, net	1	1	8	(1,148)
Non-interest expenses	(831)	(844)	(2,562)	(2,618)
Income before income taxes	29,012	15,722	85,312	43,714
Income tax expense	40	35	124	62
Net income	28,972	15,687	85,188	43,652
Total assets	3,151,462	2,523,536	3,151,462	2,523,536
Total | Treasury | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	0	0	0	0
Intersegment expenses	(163)	(150)	(492)	(514)
Eliminations
Segment Reporting Information [Line Items]
Interest income	(1,043)	(3,872)	(3,074)	(13,301)
Interest expense	1,043	3,872	3,074	13,301
Net interest income	0	0	0	0
Provision for (recapture of) credit losses	0	0	0	0
Non-interest income, net	0	0	0	0
Non-interest expenses	0	0	0	0
Intersegment revenue	(387)	(487)	(1,226)	(1,610)
Intersegment expenses	387	487	1,226	1,610
Income before income taxes	0	0	0	0
Income tax expense	0	0	0	0
Net income	0	0	0	0
Total assets	$ (1,276,120)	$ (1,043,061)	$ (1,276,120)	$ (1,043,061)

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Time Deposits	$ 1,729,033	$ 1,623,639
Eliminations | Treasury
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Time Deposits	$ 277,400		$ 308,900

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Oct. 25, 2024	Sep. 30, 2024	Jan. 31, 2024
January 2024 Stock Repurchase Program
Subsequent Event [Line Items]
Stock repurchase authorization plan		$ 50,000,000	$ 50,000,000
Subsequent Event | October 2024 Stock Repurchase Program
Subsequent Event [Line Items]
Stock repurchase authorization plan	$ 50,000,000