OFG Bancorp (OFG) 10-K 26 Feb 25 2024 FY Annual report Financial data

COVER

COVER - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Jan. 31, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,744
Entity Common Stock, Shares Outstanding		45,393,948
Documents Incorporated by Reference	Portions of the Company’s definitive proxy statement relating to the 2025 annual meeting of shareholders are incorporated herein by reference in response to Items 10 through 14 of Part III, except for certain information set forth herein under Item 12.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0001030469

AUDITOR INFORMATION

AUDITOR INFORMATION	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	185
Auditor Name	KPMG LLP
Auditor Location	San Juan, Puerto Rico

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Cash and cash equivalents:
Cash and due from banks	$ 584,467	$ 743,550
Money market investments	6,670	4,623
Total cash and cash equivalents	591,137	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 $2,444,135 (December 31, 2023 - $2,177,761); no allowance for credit losses	2,338,205	2,099,264
Investment securities held-to-maturity, at amortized cost, with fair value of $267,174 (December 31, 2023 - $490,764); no allowance for credit losses	327,158	549,024
Equity securities	54,896	38,469
Total investments	2,720,277	2,686,770
Loans:
Loans held-for-sale, at lower of cost or fair value	17,732	28,345
Loans held-for-investment, net of allowance for credit losses of $175,863 (December 31, 2023 - $161,106)	7,616,099	7,373,273
Total loans	7,633,831	7,401,618
Other assets:
Foreclosed real estate	4,002	10,780
Accrued interest receivable	71,667	71,400
Deferred tax assets, net	6,248	4,923
Premises and equipment, net	104,512	104,102
Customers' liability on acceptances	31,526	25,576
Servicing assets	70,435	49,520
Goodwill	84,241	84,241
Other intangible assets	14,782	20,694
Operating lease right-of-use assets	19,197	21,725
Other assets	148,879	114,931
Total assets	11,500,734	11,344,453
Deposits:
Demand deposits	5,627,406	6,050,428
Savings accounts	2,064,916	2,088,102
Time deposits	1,912,464	1,623,639
Total deposits	9,604,786	9,762,169
Borrowings:
Securities sold under agreements to repurchase	75,222	0
Advances from the FHLB	325,952	200,768
Other borrowings	0	2
Total borrowings	401,174	200,770
Other liabilities:
Acceptances executed and outstanding	31,526	25,576
Operating lease liabilities	21,388	24,029
Deferred tax liabilities, net	40,718	22,444
Accrued expenses and other liabilities	146,771	115,985
Total liabilities	10,246,363	10,150,973
Commitments and contingencies (See Note 24)
Stockholders’ equity:
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 45,440,269 shares outstanding (December 31, 2023 - 59,885,234 shares issued; 47,065,156 shares outstanding)	59,885	59,885
Additional paid-in capital	639,786	638,667
Legal surplus	169,537	150,967
Retained earnings	771,993	639,324
Treasury stock, at cost, 14,444,965 shares (December 31, 2023 - 12,820,078 shares)	(296,991)	(228,350)
Accumulated other comprehensive loss, net of tax of $16,091 (December 31, 2023 - $11,484)	(89,839)	(67,013)
Total stockholders’ equity	1,254,371	1,193,480
Total liabilities and stockholders’ equity	$ 11,500,734	$ 11,344,453

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Trading securities, amortized cost	$ 163	$ 163
Investment securities available-for-sale, amortized cost	2,444,135	2,177,761
Investment securities available-for-sale, allowance for credit loss	0	0
Investment securities held-to-maturity, fair value	267,174	490,764
Investment securities held-to-maturity, allowance for credit loss	0	0
Allowance for credit losses	175,863	161,106
Loans held for investment, allowance for credit losses	$ 175,863	$ 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)	45,440,269	47,065,156
Treasury stock, at cost (in shares)	14,444,965	12,820,078
Accumulated other comprehensive income, tax (benefit) expense	$ 16,091	$ 11,484

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest income:
Loans	$ 613,602	$ 554,744	$ 460,162
Mortgage-backed securities	91,776	50,359	31,298
Investment securities and other	44,899	43,777	24,113
Total interest income	750,277	648,880	515,573
Interest expense:
Deposits	150,280	75,965	32,239
Securities sold under agreements to repurchase	542	3,306	0
Advances from FHLB and other borrowings	11,015	8,739	733
Subordinated capital notes	0	0	521
Total interest expense	161,837	88,010	33,493
Net interest income	588,440	560,870	482,080
Provision for credit losses	82,251	60,638	24,119
Net interest income after provision for credit losses	506,189	500,232	457,961
Non-interest income:
Banking service revenue	66,923	70,078	71,161
Wealth management revenue	35,622	32,990	32,635
Mortgage banking activities	18,636	18,787	21,929
Total banking and financial service revenues	121,181	121,855	125,725
Sale of securities	(7)	(1,149)	(247)
Early extinguishment of debt	0	0	42
Other non-interest income	2,075	7,675	6,170
Total non-interest income	123,249	128,381	131,690
Non-interest expense:
Compensation and employee benefits	159,710	155,827	142,930
Occupancy, equipment and infrastructure costs	59,123	59,235	51,308
Electronic banking charges	42,816	41,336	39,554
Information technology expenses	27,582	27,162	21,891
Professional and service fees	18,876	18,764	24,842
Taxes, other than payroll and income taxes	13,949	12,968	12,999
Insurance	11,252	10,494	9,898
Loan servicing and clearing expenses	7,935	7,774	9,161
Advertising, business promotion, and strategic initiatives	9,714	8,743	8,240
Communication	4,551	4,678	4,296
Printing, postage, stationery and supplies	3,816	3,338	3,563
Foreclosed real estate and other repossessed assets expenses, net of (income)	3,012	(405)	(2,074)
Other	13,354	13,451	18,938
Total non-interest expense	375,690	363,365	345,546
Income before income taxes	253,748	265,248	244,105
Income tax expense	55,578	83,376	77,866
Net income available to common shareholders	$ 198,170	$ 181,872	$ 166,239
Earnings per common share:
Basic (in dollars per share)	$ 4.25	$ 3.85	$ 3.46
Diluted (in dollars per share)	$ 4.23	$ 3.83	$ 3.44
Average common shares outstanding and equivalents (in shares)	46,902	47,552	48,436
Cash dividends per share of common stock (in dollars per share)	$ 1	$ 0.88	$ 0.70

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 198,170	$ 181,872	$ 166,239
Other comprehensive (loss) income before tax:
Unrealized (loss) gain on securities available-for-sale	(27,440)	30,390	(117,575)
Realized loss on sale of securities available-for-sale	7	1,149	247
Unrealized (loss) gain on cash flow hedges	0	(406)	1,210
Other comprehensive (loss) income before taxes	(27,433)	31,133	(116,118)
Income tax effect	4,607	(4,737)	17,549
Other comprehensive (loss) income after taxes	(22,826)	26,396	(98,569)
Comprehensive income	$ 175,344	$ 208,268	$ 67,670

CONSOLIDATED STATEMENTS OF CHAN

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, 2021				$ 637,061	$ 117,677	$ 399,949	$ (150,572)	$ 5,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				4,185
Lapsed restricted stock units				(4,453)			3,547
Transfer from retained earnings					16,224
Net income		$ 166,239				166,239
Cash dividends declared on common stock	[1]					(33,593)
Transfer to legal surplus		16,200				(16,224)
Stocks repurchased		(64,110)					(64,110)
Lapsed restricted stock units and options				(4,453)			3,547
Other comprehensive (loss) gain, net of tax		(98,569)						(98,569)
Balance at end of period at Dec. 31, 2022		1,042,406	$ 59,885	636,793	133,901	516,371	(211,135)	(93,409)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				5,001
Lapsed restricted stock units				(3,127)			1,438
Transfer from retained earnings					17,066
Net income		181,872				181,872
Cash dividends declared on common stock	[1]					(41,853)
Transfer to legal surplus		17,100				(17,066)
Stocks repurchased		(18,653)					(18,653)
Lapsed restricted stock units and options				(3,127)			1,438
Other comprehensive (loss) gain, net of tax		26,396						26,396
Balance at end 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				7,170
Lapsed restricted stock units				(6,051)			1,683
Transfer from retained earnings					18,570
Net income		198,170				198,170
Cash dividends declared on common stock	[1]					(46,931)
Transfer to legal surplus		18,600				(18,570)
Stocks repurchased		(70,324)					(70,324)
Lapsed restricted stock units and options				(6,051)			1,683
Other comprehensive (loss) gain, net of tax		(22,826)						(22,826)
Balance at end of period at Dec. 31, 2024		$ 1,254,371		$ 639,786	$ 169,537	$ 771,993	$ (296,991)	$ (89,839)
[1] Dividends declared per common share during the 2024 - $1.00 (2023 - $0.88; 2022- $0.70).

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended			12 Months Ended
	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.25	$ 0.25	$ 0.22	$ 1	$ 0.88	$ 0.70

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 198,170	$ 181,872	$ 166,239
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	2,658	1,339	683
Accretion of investment securities discounts, net of amortization of premiums	(6,715)	(4,451)	(3,628)
Amortization of other intangible assets	5,912	6,899	8,500
Net change in operating leases	(113)	297	360
Depreciation and amortization of premises and equipment	20,875	20,387	15,812
Deferred income tax expense, net	21,561	67,349	61,126
Provision for credit losses	82,251	60,638	24,119
Stock-based compensation	7,170	5,001	4,185
(Gain) loss on:
Sale of securities	7	1,149	247
Sale of loans	(1,377)	(7,331)	(1,202)
Early extinguishment of debt	0	0	(42)
Foreclosed real estate and other repossessed assets	(557)	(6,251)	(12,186)
Sale of other assets	(1)	106	(4,962)
Originations and purchases of loans held-for-sale	(122,999)	(67,941)	(185,884)
Proceeds from sale of loans held-for-sale	80,953	35,881	97,608
Net decrease (increase) in:
Accrued interest receivable	(250)	(8,938)	(5,825)
Servicing assets	533	1,401	(1,948)
Other assets	(31,339)	4,971	35,371
Net (decrease) increase in:
Accrued interest on deposits and borrowings	520	3,000	34
Accrued expenses and other liabilities	(4,759)	279	(34,151)
Net cash provided by operating activities	252,500	295,657	164,456
Purchases of:
Investment securities available-for-sale	(1,325,554)	(1,035,453)	(1,266,569)
Investment securities held-to-maturity	0	(35,000)	(196,742)
Mortgage servicing rights	(20,377)	0	0
FHLB stock	(77,066)	(44,781)	(122)
Equity securities	(6,635)	(5,943)	(4,550)
Maturities and redemptions of:
Investment securities available-for-sale	990,954	273,643	132,756
Investment securities held-to-maturity	222,054	22,265	29,438
FHLB stock	67,274	36,298	83
Proceeds from sales of:
Investment securities available-for-sale	149,406	202,133	242,126
Foreclosed real estate and other repossessed assets, including write-offs	48,178	60,085	48,805
Premises and equipment	1	38	4,784
Other assets	0	0	1,060
Origination and purchase of loans, excluding loans held-for-sale	(2,970,598)	(3,586,017)	(2,885,018)
Principal repayment of loans	2,607,720	2,725,844	2,412,011
Additions to premises and equipment	(21,336)	(17,857)	(30,999)
Net cash used in investing activities	(335,979)	(1,404,745)	(1,512,937)
Net (decrease) increase in:
Deposits	(153,217)	1,195,080	6,906
Securities sold under agreements to repurchase	75,000	0	0
Subordinated capital notes	0	0	(34,958)
FHLB advances and other borrowings	124,998	173,070	(1,547)
Exercise of stock options and restricted units lapsed, net	(4,368)	(1,689)	(906)
Purchase of treasury stock	(70,324)	(18,653)	(64,110)
Dividends paid on common stock	(45,646)	(41,011)	(30,090)
Net cash (used in) provided by financing activities	(73,557)	1,306,797	(124,705)
Net change in cash and cash equivalents	(157,036)	197,709	(1,473,186)
Cash and cash equivalents at beginning of year	748,173	550,464	2,023,650
Cash and cash equivalents at end of year	591,137	748,173	550,464
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:
Cash and due from banks	584,467	743,550	546,146
Money market investments	6,670	4,623	4,161
Restricted cash	0	0	157
Total cash and cash equivalents at end of year	591,137	748,173	550,464
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:
Interest paid	156,788	79,726	26,959
Income taxes paid	40,071	15,007	5,126
Operating lease liabilities paid	9,587	10,117	10,107
Mortgage loans held-for-sale securitized into mortgage-backed securities	74,660	93,565	126,082
Transfer from loans to foreclosed real estate and other repossessed assets	44,755	53,400	37,233
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio	34,684	53,021	17,476
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio	13,622	8,763	22,723
Financed sales of foreclosed real estate	1,349	585	1,767
Delinquent loans booked under the GNMA buy-back option	48,586	19,401	32,590
Conversion of debt security to equity security	$ 0	$ 376	$ 1,500

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of OFG conform with GAAP and to banking industry practices. The following is a description of OFG’s most 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, the Bank, a securities broker-dealer and investment adviser, Oriental Financial Services, an insurance agency, Oriental Insurance, a captive reinsurance company, OFG Reinsurance, and OFG Ventures, which holds 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 trust services. Effective December 31, 2022, OFG sold its retirement plan administration business, which was operated under a retirement plan administrator, OPC, which thereafter ceased its operations. The results for the year 2022 included OPC operations. OFG conducts its business through its main office in San Juan, Puerto Rico, forty-two branches in Puerto Rico and two branches in the USVI. OFG has three subsidiaries with operations in Puerto Rico: the Bank, Oriental Financial Services and Oriental Insurance; one subsidiary in the United States, OFG Ventures; and a subsidiary in the Cayman Islands, OFG Reinsurance. OFG is subject to supervision and regulation by the Federal Reserve Board under the U.S. Bank Holding Company Act of 1956, as amended, and the Dodd-Frank Act. The Bank is subject to the supervision, examination and regulation of the Office of the OCFI and the FDIC. During 2024, the Bank became subject to the CFPB supervisory and enforcement authority with respect to consumer financial laws. The Bank has a wholly owned operating subsidiary, OFG USA, which is a commercial lender organized in Delaware. OIB, a wholly owned subsidiary of the Bank, and Oriental Overseas, a division of the Bank, are IBEs 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 persons located in Puerto Rico with assets/liabilities located outside of Puerto Rico. In March 2024, the Bank organized OBPEF, as a wholly owned subsidiary of the Bank and a private equity fund under the 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. The Bank’s USVI operations are also subject to the supervision, examination and regulation of the USVI Banking Board. Oriental Financial Services is registered as a securities broker-dealer and as an investment adviser, and is subject to the supervision, examination and regulation of the FINRA, the SEC, and the OCFI. Oriental Financial Services is also a member of the Securities Investor Protection Corporation. Oriental Insurance is an insurance agency and is subject to the supervision, examination and regulation of the Office of the Commissioner of Insurance of Puerto Rico. OFG Reinsurance is subject to regulation by the CIMA. OFG’s mortgage banking activities are conducted through a division of the Bank. The mortgage banking activities include the origination of mortgage loans for the Bank’s own portfolio, the sale of loans directly in the secondary market or the securitization of conforming loans into mortgage-backed securities, and the purchase or assumption of the right to service loans originated by others. The Bank originates FHA insured and VA guaranteed mortgages that are primarily securitized for issuance of GNMA mortgage-backed securities which can be resold to individual or institutional investors in the secondary market. Conventional loans that meet the underwriting requirements for sale or exchange under certain FNMA or FHLMC programs are referred to as conforming mortgage loans and are also securitized for issuance of FNMA or FHLMC mortgage-backed securities. The Bank is an approved seller of FNMA mortgage loans for issuance of FNMA mortgage-backed securities. The Bank is also an approved issuer of GNMA mortgage-backed securities. The Bank is the master servicer of its mortgage loan portfolio and the GNMA, FNMA and FHLMC pools that it issues. Through December 31, 2022, the Bank had a subservicing arrangement with a third party for a portion of its acquired loan portfolio. This subservicing arrangement expired on May 1, 2023, and since then, OFG no longer has any subservicing arrangements for its loan portfolio. Principles of Consolidation The accompanying consolidated financial statements include the accounts of OFG Bancorp and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate mainly to the determination of the ACL, the valuation of securities, the determination of income taxes, impairment of securities, and goodwill valuation and impairment assessment. Earnings per Common Share Basic earnings per share is calculated by dividing income available to common shareholders by the weighted average of outstanding common shares. Diluted earnings per share is similar to the computation of basic earnings per share except that the weighted average of common shares is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares underlying stock options and restricted units had been issued, assuming that proceeds from exercise are used to repurchase shares in the market (treasury stock method). Any dividends are retroactively recognized in all periods presented in the consolidated financial statements. Cash Equivalents OFG considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less. Investment Securities OFG classifies its investments in debt securities into one of three categories: Held-to-maturity - Securities that management has the intent and ability to hold to maturity. These securities are carried at amortized cost. An ACL is established for the expected credit losses over the remaining term of debt securities held to maturity. OFG’s portfolio of held to maturity securities is comprised of obligations from the U.S. Government. These securities have an explicit or implicit guarantee from the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. Other debt securities held to maturity are securities issued by a public corporation and governmental instrumentality of the Commonwealth of Puerto Rico, and guaranteed by such agency with no history of credit losses. Accordingly, OFG applies a zero-credit loss assumption and no ACL for these securities has been established. OFG monitors its securities portfolio composition and credit performance on a quarterly basis to determine if any allowance is considered necessary. Available-for-sale - Securities to be held for indefinite periods of time. These securities are carried at fair value. Declines in fair value below the securities’ amortized cost which are not related to estimated credit losses are recorded through other comprehensive income or loss, net of taxes. If OFG intends to sell or believes it is more likely than not that it will be required to sell the debt security, it is written down to fair value through earnings. Credit losses relating to available-for-sale debt securities are recorded through an ACL, which are limited to the difference between the amortized cost and the fair value of the asset. The ACL is established for the expected credit losses over the remaining term of debt security. OFG’s portfolio of AFS securities is comprised mainly of US Treasury securities and obligations from the U.S. Government. These securities have an explicit or implicit guarantee from the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. Accordingly, OFG applies a zero-credit loss assumption and no ACL for these securities has been established. OFG monitors its securities portfolio composition and credit performance on a quarterly basis to determine if any allowance is considered necessary. Debt securities available-for-sale are written-off when a portion or the entire amount is deemed uncollectible, based on the information considered to develop expected credit losses through the life of the asset. The specific identification method is used to determine realized gains and losses on debt securities available-for-sale, which are included in net gain (loss) on sale of securities in the consolidated statements of operations. Trading - Securities held for resale in anticipation of short-term market movements. These securities are carried at fair value, with changes in unrealized holding gains and losses included in non-interest income in the consolidated statements of operations. Management determines the appropriate classification of securities at the time of purchase. Premiums and discounts are amortized to interest income over the life of the related securities using the interest method. Net realized gains or losses on sales of investment securities and unrealized gains and losses valuation adjustments considered other than temporary, if any, on securities classified as either available-for-sale or held-to-maturity are reported separately in the consolidated statements of operations. Purchases and sales of securities are recorded at trade date. The cost of securities sold is determined by the specific identification method. Equity securities do not have readily available fair values and are measured at cost, less any impairment. Impairment is reviewed on a quarterly basis through a qualitative assessment from financial and non-financial information received from the individual investment funds and companies. As of December 31, 2024 and 2023 and for the years then ended, there were no impairments, downward or upward adjustments, annual or on a cumulative basis for these investments. Stock that is owned by OFG to comply with regulatory requirements, such as FHLB stock, is included in this category, and their realizable value equals their cost. Unrealized and realized gains and losses and any impairment on equity securities are included in net gain (loss) in the consolidated statements of operations. Dividend income from investments in equity securities is included in interest income in the consolidated statements of operations. Financial Instruments Certain financial instruments, including trading securities, and investment securities available-for-sale are recorded at fair value and unrealized gains and losses are recorded in other comprehensive (loss) income or as part of non-interest income, as appropriate. Fair values are based on listed market prices, if available. If listed market prices are not available, fair value is determined based on other relevant factors, including price quotations for similar instruments. OFG determines the fair value of its financial instruments based on the fair value measurement framework, which establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 — Level 1 assets and liabilities include equity securities, debt securities, and money market investment that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include (i) mortgage-backed securities for which the fair value is estimated based on valuations obtained from third-party pricing services for identical or comparable assets and (ii) debt securities with quoted prices that are traded less frequently than exchange-traded instruments. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models for which the determination of fair value requires significant management judgment or estimation. OFG’s policy is to recognize any transfer into or out of the Levels referred to above at the date of the event or change in circumstances that caused the transfer. Other Loans Held-For-Sale and Transfers of Other Loans from Held-for-Investment to Held-for-Sale Other loans reported as held-for-sale are non-mortgage loans which are stated at the lower of amortized cost or fair value, cost being determined on the outstanding loan balance less unearned income, and fair value determined in the aggregate. The amount for which amortized cost exceeds fair value is recognized through a valuation allowance by a charge to income in the period in which the change occurs. Realized gains or losses on these loans are determined using the specific identification method. Other loans held-for-sale include commercial loans that were designated as held-for-investment at origination or purchase, but that OFG subsequently decided to sell to other institutions. These loans are reclassified to held-for-sale on the date that OFG decides to sell them. At this time, any previously recorded ACL is reversed in earnings and the loan is recorded at its amortized cost basis. Prior to the transfer, OFG applies its write-off policy to the amortized cost basis. The amortized cost at the date of transfer is reduced by any write-offs recognized just prior to the transfer. If the amortized cost basis exceeds the loan’s fair value at the date of transfer, OFG establishes a valuation allowance equal to the difference between amortized cost basis and fair value. The previously recorded ACL associated with the transferred loans after applying the write-off policy is released and an offsetting entry is recorded to the provision. Mortgage Banking Activities and Mortgage Loans Held-For-Sale The residential mortgage loans reported as held-for-sale are stated at the lower of amortized cost or fair value, cost being determined on the outstanding loan balance less unearned income, and fair value determined in the aggregate. The amount for which amortized cost exceeds fair value is recognized through a valuation allowance by a charge to income in the period in which the change occurs. Realized gains or losses on these loans are determined using the specific identification method. Mortgage loans held-for-sale include all conforming mortgage loans originated and purchased, which from time to time OFG sells to other financial institutions or securitizes conforming mortgage loans into GNMA, FNMA and FHLMC pass-through certificates . Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities OFG recognizes the financial and servicing assets it controls and the liabilities it has incurred, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. OFG is not engaged in sales of mortgage loans and mortgage-backed securities subject to recourse provisions except for those provisions that allow for the repurchase of loans as a result of a breach of certain representations and warranties other than those related to the credit quality of the loans included in the sale transactions. The transfer of an entire financial asset, a group of entire financial assets, or a participating interest in an entire financial asset in which OFG surrenders control over the assets is accounted for as a sale if all of the following conditions set forth in Accounting Standards Codification (“ASC”) Topic 860 are met: (i) the assets must be isolated from creditors of the transferor, (ii) the transferee must obtain the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the transferor cannot maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. When OFG transfers financial assets and the transfer fails any one of these criteria, OFG is prevented from derecognizing the transferred financial assets and the transaction is accounted for as a secured borrowing. For transfers of financial assets that satisfy the conditions to be accounted for as sales, OFG derecognizes all assets sold; recognizes all assets obtained and liabilities incurred in consideration as proceeds of the sale, including servicing assets and servicing liabilities, if applicable; initially measures at fair value assets obtained and liabilities incurred in a sale; and recognizes in earnings any gain or loss on the sale. The guidance on transfer of financial assets requires a true sale analysis of the treatment of the transfer under state law as if OFG was a debtor under the bankruptcy code. A true sale legal analysis includes several legally relevant factors, such as the intent of the parties, the nature and level of recourse to the transferor, and the nature of retained interests in the loans sold. The analytical conclusion as to a true sale is never absolute and unconditional, and contains qualifications based on the inherent equitable powers of a bankruptcy court, as well as any unsettled matters of state law or common law. Once the legal isolation test has been met, other factors concerning the nature and extent of the transferor’s control over the transferred assets are taken into account in order to determine whether derecognition of assets is warranted. When OFG sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. Conforming conventional mortgage loans are combined into pools which are exchanged for FNMA and GNMA mortgage-backed securities, which are generally sold to private investors, or sold directly to FNMA or other private investors for cash. To the extent the loans do not meet the specified characteristics, investors are generally entitled to require OFG to repurchase such loans or indemnify the investor against losses if the assets do not meet certain guidelines. GNMA programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which OFG provides servicing. At OFG’s option and without GNMA’s prior authorization, OFG may repurchase such delinquent loans for an amount equal to 100% of the loan’s remaining principal balance. This buy-back option is considered a conditional option until the delinquency criteria is met, at which time the option becomes unconditional. When the loans backing a GNMA security are initially securitized, OFG treats the transaction as a sale for accounting purposes because the conditional nature of the buy-back option means that OFG does not maintain effective control over the loans and, therefore, these are derecognized from the statement of financial condition. When individual loans later meet GNMA’s specified delinquency criteria and are eligible for repurchase, OFG is deemed to have regained effective control over these loans, and these must be brought back into OFG’s books as assets, regardless of whether OFG intends to exercise the buy-back option. Quality review procedures are performed by OFG as required under the government agency programs to ensure that asset guideline qualifications are met. OFG records a contingent liability for these customary representations and warranties related to loans sold by OFG and is presented within other liabilities in the consolidated statements of financial condition. For more information refer to Note 24 – Commitments and Contingencies. OFG has liability for residential mortgage loans sold subject to credit recourse, principally loans associated with FNMA residential mortgage loan sales and securitization programs. In the event of any customer default, 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 in the event of nonperformance by the borrowers is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. In the event of nonperformance by the borrower, OFG has rights to the underlying collateral securing the mortgage loan. OFG suffers ultimate losses on these loans when the proceeds from a foreclosure sale of the property underlying a defaulted mortgage loan are less than the outstanding principal balance of the loan plus any uncollected interest advanced and the costs of holding and disposing the related property. OFG has established a liability to cover the estimated credit loss exposure related to loans sold with credit recourse. The estimated losses to be absorbed under the credit recourse arrangements are recorded as a liability when the loans are sold or credit recourse is assumed as part of acquired servicing rights, and are updated by accruing or reversing expense (included as mortgage banking activities in the consolidated statements of operations) throughout the life of the loan, as necessary, when additional relevant information becomes available. The methodology used to estimate the recourse liability is a function of the recourse arrangements given and considers historical and forecast loss experience. The methodology leverages the expected loss framework for mortgage loans to estimate expected future losses. The reserve for the estimated losses under the credit recourse arrangements is presented separately within other liabilities in the consolidated statements of financial condition. For more information refer to Note 24 – Commitments and Contingencies. 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. All separately recognized servicing assets are recognized at fair value using the fair value measurement method. Under the fair value measurement method, OFG measures servicing rights at fair value at each reporting date and reports changes in the fair value of servicing assets in the statements of operations in the period in which the changes occur, and includes these changes, if any, with mortgage banking activities in the consolidated statements of operations. The fair value of servicing rights is subject to fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. The fair value of servicing rights 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. Loans and ACL Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts, deferred loan fees, and costs. Loans held for investment that were not purchased with credit deterioration are referred to as non-PCD loans, and loans that were purchased with credit deterioration are referred to as PCD loans. OFG discontinues accrual of interest after payments become more than 90 days past due or earlier if OFG does not expect the full collection of principal or interest, except for residential mortgage loans insured or guaranteed under applicable FHA and VA programs that are not placed in non-accrual status until they become 12 months or more past due, as they are insured loans. At that time, any accrued income is reversed. The delinquency status is based on the contractual terms of the loans. Loans for which the recognition of interest income has been discontinued are designated as non-accruing. Thereafter, collections are accounted for as a cash method, until qualifying to return to accrual status. Such loans are not reinstated to accrual status until interest is received on a current basis and other factors indicative of doubtful collection cease to exist. The determination as to the ultimate collectability of the loan’s balance may involve management’s judgment in the evaluation of the borrower’s financial condition and prospects for repayment. Interest income is based on the effective yield on the non-PCD loans. PCD Loans: OFG has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. OFG considered the following factors as indicators that an acquired loan had evidence of deterioration in credit quality: loans that were 90 days or more past due; loans that had an internal loan grade of substandard or worse - substandard loans have a well-defined weakness that jeopardizes collection of the loan; loans that were classified as nonaccrual by the acquired bank at the time of acquisition; and loans that had been previously modified in a financial difficulties modification or previously identified as troubled debt restructuring. As such, our PCD loans are recorded at the purchase price plus the ACL expected at the time of acquisition or implementation of the standard. An ACL is determined using an UDCF methodology. 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, for these loans, the determination of nonaccrual or accrual status is made at the pool level, not the individual loan level. On the adoption of CECL, the ACL was determined for each pool and added to the pool’s carrying amount to establish a new amortized cost basis. The difference between the unpaid principal balance of the pool and the new amortized cost basis is the non-credit premium or discount, which will be amortized interest income over the remaining life of the pool. On a quarterly basis, management will monitor the composition and behavior of the pools to assess the ability for cash flow estimation and timing. If, based on the analysis performed, the pool is classified as non-accrual, the accretion/amortization of the non-credit (discount) premium will cease. Changes to the ACL are recorded through the provision expense. ACL – Loans: OFG adopted CECL, which utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans at the time the financial asset is originated or acquired. The ACL is adjusted each period for changes in expected credit losses. The ACL is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Determining the amount of the ACL is complex and requires extensive judgment by management about matters that are inherently uncertain. Re-evaluation of the ACL estimate in future periods in light of changes in the composition and characteristics of the loan portfolio, changes in the reasonable and supportable forecast, and other factors then prevailing may result in material changes in the amount of the ACL and credit loss expense in those future periods. Loans are charged off against the ACL when management believes the uncollectability of a loan balance is confirmed. OFG continues to monitor and modify the level of the ACL to ensure it is adequate. Our methodology for estimating expected credit losses for our loan portfolios includes the following key components: • Expected credit losses are estimated on a collective basis for groups of loans that share similar risk characteristics. Factors that may be considered in aggregating loans for this purpose include, but are not necessarily limited to, product or collateral type, internal risk rating, credit characteristics such as credit scores or collateral types, and historical or expected credit loss patterns. • Credit losses for loans that do not share similar risk characteristics are estimated on an individual basis. Individual evaluations are typically performed for commercial nonaccrual modified loans classified as financial difficulties modifications or previously identified as troubled debt restructurings, and commercial classified loans that do not share common risk characteristics. The lifetime losses for individually measured loans are estimated based on one of several methods, including the estimated fair value of the underlying collateral, the observable market value of similar debt, or the present value of expected cash flows. • ACL reserves are estimated over the contractual term of the financial asset adjusted for expected prepayments. As part of the calculation of the contractual term, the expected extension is generally not considered unless the option to extend the loan cannot be canceled unilaterally by OFG. In the case of unconditionally cancellable accounts, such as credit cards, reserves are based on the expected life of the balance as of the evaluation date (assuming no further charges) and do not include any undrawn commitments that are unconditionally cancellable. • The quantitative model utilizes a DCF or UDCF approach to estimate expected credit losses using the probability of default (“PD”), loss given default (“LGD”), and exposure at default (“EAD”). DCF method is used for most of the non-PCD portfolio, and the UDCF method for the PCD portfolio. For the EAD, OFG uses a prepayment model that projects prepayments over the life of the loans. • An economic forecast period based on the relationship of losses with key economic variables for each portfolio segment; OFG has elected a 2-year reasonable and supportable forecast period, with an additional 1-year to mean straight-line reversion occurring within the credit loss models based on the economic inputs. The length of the reasonable and supportable forecast is evaluated at each reporting period and adjusted if deemed necessary. • Inclusion of qualitative adjustment to consider factors for asset-specific risk characteristics to the extent they do not exist in the historical information that has not been accounted for and could impact the amount of future losses. For example, factors that OFG considers include changes in lending policies and procedures, business conditions, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due loans and nonaccrual loans, the effect of external factors such as competition, and legal and regulatory requirements,

CASH RESTRICTIONS

CASH RESTRICTIONS	12 Months Ended
	Dec. 31, 2024
Restricted Cash and Investments [Abstract]
CASH RESTRICTIONS	CASH RESTRICTIONS 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 December 31, 2024, was $472.0 million (December 31, 2023 - $464.5 million). At December 31, 2024 and 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	12 Months Ended
	Dec. 31, 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 December 31, 2024 and 2023, money market instruments included as part of cash and cash equivalents amounted to $6.7 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 December 31, 2024 and 2023 were as follows: December 31, 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 $ 14,930 $ — $ 587 $ 14,343 2.07 % Due from 5 to 10 years 23,664 — 1,415 22,249 1.90 % Due after 10 years 1,943,193 5,545 72,449 1,876,289 4.51 % Total FNMA and FHLMC certificates 1,981,787 5,545 74,451 1,912,881 4.46 % GNMA certificates Due from 1 to 5 years 6,215 — 177 6,038 1.74 % Due from 5 to 10 years 11,358 10 641 10,727 2.25 % Due after 10 years 437,308 4,058 40,146 401,220 3.63 % Total GNMA certificates 454,881 4,068 40,964 417,985 3.57 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 5,015 — 126 4,889 1.78 % Due after 10 years 753 — 3 750 5.07 % Total CMOs issued by US government-sponsored agencies 5,768 — 129 5,639 2.21 % Total mortgage-backed securities 2,442,436 9,613 115,544 2,336,505 4.29 % Investment securities US Treasury securities Due less than 1 year 1,149 1 — 1,150 4.85 % Other debt securities Due from 1 to 5 years 550 — — 550 2.41 % Total investment securities 1,699 1 — 1,700 4.06 % Total securities available for sale $ 2,444,135 $ 9,614 $ 115,544 $ 2,338,205 4.29 % December 31, 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 $ 292,158 $ — $ 60,006 $ 232,152 1.73 % Investment securities Other debt securities Due less than 1 year 35,000 22 — 35,022 5.53 % Total securities held to maturity $ 327,158 $ 22 $ 60,006 $ 267,174 2.13 % 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 December 31, 2024 and 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 ACL. Investment securities as of December 31, 2024, include $1.564 billion pledged to secure securities sold under agreements to repurchase, government deposits and regulatory collateral, of which $1.440 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, 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. During 2023, OFG acquired a two-year $35.0 million private placement hospital revenue bond issued by AFICA, a public corporation and governmental instrumentality of the Commonwealth of Puerto Rico, to provide financing for a private entity. This bond is not marketable and therefore has no rating. It is included in “Other debt securities held to maturity” in the tables above. At December 31, 2024 and 2023, the Bank’s IBEs, OIB and Oriental Overseas, each 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 2024, 2023 and 2022, OFG retained securitized GNMA pools totaling $74.7 million, $76.4 million and $112.4 million, respectively, at a yield of 4.87%, 5.33% and 3.90%, respectively, from its own originations. During 2023 and 2022, OFG retained FNMA pools totaling $17.2 million and $13.7 million at a yield of 5.37% and 4.97%, from its own originations. OFG did not retain FNMA pools during 2024. During 2024 and 2023, OFG purchased $549.0 million and $300.0 million of short-term available for sale US Treasury securities. During 2022, OFG purchased $550.0 million of available for sale US Treasury securities and $200.0 million of held to maturity US Treasury securities. US Treasury securities are exempt of income taxes. During 2024, 2023 and 2022, OFG sold $149.4 million, $203.3 million and $242.4 million, respectively, of AFS US Treasury securities and recognized $7 thousand, $1.1 million and $247 thousand, respectively, in losses on the sales. These losses are included in the consolidated statements of operations. Year Ended December 31, 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 Year Ended December 31, 2022 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 $ 242,126 $ 242,373 $ — $ 247 The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale at December 31, 2024 and 2023, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: December 31, 2024 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 641,189 $ 61,462 $ 579,727 GNMA certificates 240,265 38,945 201,320 CMOs issued by US Government-sponsored agencies 5,768 129 5,639 $ 887,222 $ 100,536 $ 786,686 December 31, 2024 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 804,976 $ 12,989 $ 791,987 GNMA certificates 85,792 2,019 83,773 $ 890,768 $ 15,008 $ 875,760 December 31, 2024 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 1,446,165 $ 74,451 $ 1,371,714 GNMA certificates 326,057 40,964 285,093 CMOs issued by US Government-sponsored agencies 5,768 129 5,639 $ 1,777,990 $ 115,544 $ 1,662,446 The unrealized losses on OFG’s investment in federal agency mortgage-backed securities were caused by market volatility related to market uncertainty tied to interest rates. 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. 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

PLEDGED ASSETS

PLEDGED ASSETS	12 Months Ended
	Dec. 31, 2024
Pledged Assets [Abstract]
PLEDGED ASSETS	PLEDGED ASSETS The following table shows a summary of pledged and not pledged assets at December 31, 2024 and 2023. Investment securities available for sale are presented at fair value, and investment securities held to maturity, residential mortgage loans, commercial loans, consumer loans and auto loans are presented at amortized cost: December 31, 2024 2023 (In thousands) Pledged investment securities to secure: Securities sold under agreements to repurchase $ 80,968 $ — Bank Term Funding Program 41,889 48,070 IBE Regulation 1,045 645 Bond for the Bank's trust operations 104 104 Puerto Rico public fund deposits 1,439,627 1,575,042 Total pledged investment securities 1,563,633 1,623,861 Pledged residential mortgage loans to secure: Advances from the FHLB 700,469 769,813 Pledged commercial loans to secure: Advances from the FHLB 394,597 236,665 Federal Reserve Bank Credit Facility 79,893 70,075 Puerto Rico public fund deposits 66,944 69,731 541,434 376,471 Pledged auto loans to secure: Federal Reserve Bank Credit Facility 2,069,693 1,169,711 Pledged consumer loans to secure: Federal Reserve Bank Credit Facility 551,131 — Total pledged assets $ 5,426,360 $ 3,939,856 Financial assets not pledged: Investment securities $ 1,101,730 $ 1,024,427 Residential mortgage loans 783,634 792,796 Commercial loans 2,566,102 2,728,777 Consumer loans 117,430 620,446 Auto loans 479,800 1,104,710 Total assets not pledged $ 5,048,696 $ 6,271,156

LOANS

LOANS	12 Months Ended
	Dec. 31, 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 December 31, 2024 and 2023 was as follows: December 31, 2024 December 31, 2023 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial PR: Commercial secured by real estate $ 1,222,395 $ 77,196 $ 1,299,591 $ 1,095,207 $ 120,988 $ 1,216,195 Other commercial and industrial 1,087,886 11,533 1,099,419 1,091,021 14,459 1,105,480 2,310,281 88,729 2,399,010 2,186,228 135,447 2,321,675 Commercial US 704,081 — 704,081 755,228 — 755,228 Total commercial loans 3,014,362 88,729 3,103,091 2,941,456 135,447 3,076,903 Mortgage loans 628,853 841,964 1,470,817 629,247 933,362 1,562,609 Consumer loans: Personal loans 620,430 245 620,675 568,358 264 568,622 Credit lines 10,126 353 10,479 10,926 288 11,214 Credit cards 36,956 — 36,956 40,314 — 40,314 Overdraft 451 — 451 296 — 296 667,963 598 668,561 619,894 552 620,446 Auto loans 2,549,033 460 2,549,493 2,272,530 1,891 2,274,421 6,860,211 931,751 7,791,962 6,463,127 1,071,252 7,534,379 Allowance for credit losses (170,709) (5,154) (175,863) (152,610) (8,496) (161,106) Total loans held for investment, net 6,689,502 926,597 7,616,099 6,310,517 1,062,756 7,373,273 Mortgage loans held-for-sale 13,286 — 13,286 — — — Other loans held-for-sale 4,446 — 4,446 28,345 — 28,345 Total loans held-for-sale 17,732 — 17,732 28,345 — 28,345 Total loans, net $ 6,707,234 $ 926,597 $ 7,633,831 $ 6,338,862 $ 1,062,756 $ 7,401,618 During 2024, OFG sold $56.6 million commercial loans held-for-sale and recognized a $900 thousand gain, included in other non-interest income in the consolidated statement of operations. During 2023, OFG sold non-performing Puerto Rico small business commercial loans held-for-sale amounting to $4.3 million, with an unpaid principal balance of $25.3 million and recognized a $6.3 million gain, included in other non-interest income in the consolidated statement of operations. At December 31, 2024 and 2023, OFG had $4.4 million and $28.3 million, respectively, in commercial loans held-for-sale. At December 31, 2024 and 2023, OFG had carrying balances of $66.4 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 December 31, 2024 and 2023, by class of loans. Mortgage loans past due include $48.6 million and $19.4 million of delinquent loans in the GNMA buy-back option program at December 31, 2024 and 2023, respectively. During 2024, OFG acquired the servicing rights to a $1.7 billion mortgage loan portfolio that was being subserviced by the Bank. At the time of acquisition, defaulted loans under the GNMA buy-back option program corresponding to this servicing portfolio amounted to $24.2 million. 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. December 31, 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 $ 879 $ 215 $ 9,780 $ 10,874 $ 1,211,521 $ 1,222,395 $ — Other commercial and industrial 597 629 3,588 4,814 1,083,072 1,087,886 — 1,476 844 13,368 15,688 2,294,593 2,310,281 — Commercial US — 4,505 — 4,505 699,576 704,081 — Total commercial loans 1,476 5,349 13,368 20,193 2,994,169 3,014,362 — Mortgage loans 5,362 6,069 59,995 71,426 557,427 628,853 2,047 Consumer loans: Personal loans 8,522 4,655 3,494 16,671 603,759 620,430 — Credit lines 53 38 125 216 9,910 10,126 — Credit cards 670 255 571 1,496 35,460 36,956 — Overdraft 88 — — 88 363 451 — 9,333 4,948 4,190 18,471 649,492 667,963 — Auto loans 119,805 50,208 20,055 190,068 2,358,965 2,549,033 — Total loans $ 135,976 $ 66,574 $ 97,608 $ 300,158 $ 6,560,053 $ 6,860,211 $ 2,047 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 2024. There were no past due commercial loans held-for-sale as of December 31, 2024. 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. Non-accrual Loans The following table presents the amortized cost basis of loans held for investment on non-accrual status as of December 31, 2024 and 2023: December 31, 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 $ 4,610 $ 6,248 $ 10,858 $ 3,553 $ 7,929 $ 11,482 Other commercial and industrial 1,855 1,996 3,851 4,560 830 5,390 6,465 8,244 14,709 8,113 8,759 16,872 Commercial US 21,317 2,887 24,204 19,224 — 19,224 Total commercial loans 27,782 11,131 38,913 27,337 8,759 36,096 Mortgage loans 8,770 3,153 11,923 10,339 3,858 14,197 Consumer loans: Personal loans 3,468 44 3,512 2,741 14 2,755 Credit lines 125 — 125 35 — 35 Credit cards 570 — 570 586 — 586 4,163 44 4,207 3,362 14 3,376 Auto loans 20,049 6 20,055 19,051 5 19,056 Total $ 60,764 $ 14,334 $ 75,098 $ 60,089 $ 12,636 $ 72,725 PCD: Commercial PR: Commercial secured by real estate $ — $ 1,946 $ 1,946 $ 3,060 $ 2,417 $ 5,477 Other commercial and industrial 695 — 695 — 947 947 Total commercial loans 695 1,946 2,641 3,060 3,364 6,424 Mortgage loans 239 — 239 250 — 250 Total $ 934 $ 1,946 $ 2,880 $ 3,310 $ 3,364 $ 6,674 Total non-accrual loans $ 61,698 $ 16,280 $ 77,978 $ 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. As of 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 2024. There were no commercial non-accrual loans held-for-sale at December 31, 2024. Delinquent residential mortgage loans insured or guaranteed under applicable FHA and 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 December 31, 2024 and 2023, the amortized cost of modified loans excludes $127 thousand and $188 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 2024 and 2023, includes $1.0 million and $4.6 million, respectively, of government-guaranteed loans ( e.g., FHA/VA). The following tables present the amortized cost basis as of December 31, 2024 and 2023 of loans held for investment that were modified during 2024 and 2023, disaggregated by class of financing receivable and type of concession granted. Year Ended December 31, 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 $ 9,257 1.31 % $ — — % $ 6,286 0.89 % $ — — % $ — — % Mortgage loans — — % 1,682 0.11 % — — % 88 0.01 % 105 0.01 % Consumer: Personal loans 26 — % 6 — % — — % — — % — — % Auto loans 162 0.01 % — — % — — % — — % — — % Total $ 9,445 $ 1,688 $ 6,286 $ 88 $ 105 Year Ended December 31, 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 $ — — % $ 6,332 0.52 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 689 0.06 % — — % — — % — — % — — % 7,021 0.23 % — — % — — % — — % Commercial US 6,649 0.88 % — — % — — % — — % 4,183 0.55 % Total commercial loans 6,649 0.88 % 7,021 0.23 % — — % — — % 4,183 0.55 % Mortgage loans — — % 5,777 0.37 % 97 0.01 % 710 0.05 % 440 0.03 % Consumer: Personal loans 37 0.01 % — — % — — % 80 0.01 % — — % Auto loans 48 — % 13 — % — — % 53 — % — — % Total $ 6,734 $ 12,811 $ 97 $ 843 $ 4,623 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 6 – Allowance for Credit Losses for additional information. Year Ended December 31, 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 $ 623 Mortgage loans 0.38 % 149 11 Consumer loans: Personal loans 5.00 % 18 — Auto loans 2.82 % 0 — Year Ended December 31, 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 % 213 24 Consumer loans: Personal loans 2.98 % 81 — Auto loans 3.00 % 0 — The following tables present the amortized cost basis as of December 31, 2024 and 2023, 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 December 31, 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 $ — $ 149 $ — $ — $ 149 Twelve-Months Ended December 31, 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 $ — $ 704 $ — $ — $ 704 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 ACL 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 year ended December 31, 2024 and 2023 that were granted to borrowers experiencing financial difficulty. December 31, 2024 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial US $ — $ — $ — $ — $ 15,543 $ 15,543 Mortgage loans 118 37 149 304 1,571 1,875 Consumer loans: Personal loans — — — — 32 32 Auto loans — — — — 162 162 Total $ 118 $ 37 $ 149 $ 304 $ 17,308 $ 17,612 December 31, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial PR: Commercial loans secured by real estate $ — $ — $ — $ — $ 6,332 $ 6,332 Other commercial and industrial — — — — 689 689 — — — — 7,021 7,021 Commercial US — — — — 10,832 10,832 Total commercial loans — — — — 17,853 17,853 Mortgage loans 471 297 583 1,351 5,673 7,024 Consumer loans: Personal loans — — — — 117 117 Auto loans 30 — — 30 84 114 Total $ 501 $ 297 $ 583 $ 1,381 $ 23,727 $ 25,108 There were no outstanding commitments to lend additional funds to debtors experiencing financial difficulties at December 31, 2024 and 2023. As of December 31, 2024 and 2023, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $25.0 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 December 31, 2024 and 2023, by class of loans. December 31, 2024 2023 (In thousands) Commercial PR: Commercial loans secured by real estate $ 6,877 $ 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 December 31, 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 $ 219,185 $ 204,144 $ 229,955 $ 190,891 $ 106,562 $ 180,600 $ 46,448 $ 1,177,785 Special Mention — 13,702 7,205 6,192 909 3,721 73 31,802 Substandard — — 554 1,479 1,198 8,572 1,005 12,808 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial secured by real estate 219,185 217,846 237,714 198,562 108,669 192,893 47,526 1,222,395 Commercial secured by real estate: YTD gross charge-offs — 184 — — — 26 — 210 Other commercial and industrial: Loan grade: Pass 146,372 269,680 48,516 49,751 23,858 13,508 477,838 1,029,523 Special Mention — 373 3,281 45,012 — 136 4,920 53,722 Substandard 21 15 317 640 111 825 2,712 4,641 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 146,393 270,068 52,114 95,403 23,969 14,469 485,470 1,087,886 Other commercial and industrial: YTD gross charge-offs 117 143 298 3,573 — 238 — 4,369 Commercial US: Loan grade: Pass 56,534 120,064 21,648 57,736 20,138 21,884 273,971 571,975 Special Mention — — — — — — 39,896 39,896 Substandard 16,094 16,422 26,536 4,689 — 5,647 21,204 90,592 Doubtful 1,618 — — — — — — 1,618 Loss — — — — — — — — Total Commercial US: 74,246 136,486 48,184 62,425 20,138 27,531 335,071 704,081 Commercial US: YTD gross charge-offs — — 392 1,749 — 1,497 — 3,638 Total commercial loans $ 439,824 $ 624,400 $ 338,012 $ 356,390 $ 152,776 $ 234,893 $ 868,067 $ 3,014,362 Total YTD gross charge-offs $ 117 $ 327 $ 690 $ 5,322 $ — $ 1,761 $ — $ 8,217 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 December 31, 2024 and 2023 , the balance of revolving commercial loans converted to term loans was $191.9 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 December 31, 2024: Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 41,100 $ 18,986 $ 23,207 $ 28,034 $ 20,203 $ 480,388 $ — $ 611,918 Nonperforming 148 636 107 466 102 15,476 — 16,935 Total mortgage loans: 41,248 19,622 23,314 28,500 20,305 495,864 — 628,853 Mortgage loans: YTD gross charge-offs — — — — — 126 — 126 Consumer loans: Personal loans: Payment performance: Performing 265,955 175,932 114,654 40,794 11,563 8,020 — 616,918 Nonperforming 438 1,292 1,266 353 51 112 — 3,512 Total personal loans 266,393 177,224 115,920 41,147 11,614 8,132 — 620,430 Personal loans: YTD gross charge-offs 1,425 10,788 11,973 3,443 700 1,088 — 29,417 Credit lines: Payment performance: Performing — — — — — — 10,001 10,001 Nonperforming — — — — — — 125 125 Total credit lines — — — — — — 10,126 10,126 Credit lines: YTD gross charge-offs — — — — — — 156 156 Credit cards: Payment performance: Performing — — — — — — 36,386 36,386 Nonperforming — — — — — — 570 570 Total credit cards — — — — — — 36,956 36,956 Credit cards: YTD gross charge-offs — — — — — — 2,781 2,781 Overdrafts: Payment performance: Performing — — — — — — 451 451 Nonperforming — — — — — — — — Total overdrafts — — — — — — 451 451 Overdrafts: YTD gross charge-offs — — — — — — 912 912 Total consumer loans 266,393 177,224 115,920 41,147 11,614 8,132 47,533 667,963 Total consumer loans YTD gross charge-offs 1,425 10,788 11,973 3,443 700 1,088 3,849 33,266 Total mortgage and consumer loans $ 307,641 $ 196,846 $ 139,234 $ 69,647 $ 31,919 $ 503,996 $ 47,533 $ 1,296,816 Total mortgage and consumer loans YTD gross charge-offs $ 1,425 $ 10,788 $ 11,973 $ 3,443 $ 700 $ 1,214 $ 3,849 $ 33,392 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 271,386 188,200 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 December 31, 2024, the balance of mortgage and consumer revolving loans that were converted to term loans was $2.2 million. At December 31, 2023 , there were no mortgage and consumer revolving loans that were 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 December 31, 2024: Term Loans Total 2024 2023 2022 2021 2020 Prior (In thousands) Auto loans: FICO score: 1-660 $ 157,865 $ 191,510 $ 163,990 $ 93,675 $ 41,016 $ 38,369 $ 686,425 661-699 172,579 116,145 69,573 36,607 15,583 13,720 424,207 700+ 521,507 397,649 243,449 130,613 66,571 54,947 1,414,736 No FICO 5,266 6,630 5,616 3,255 1,265 1,633 23,665 Total auto loans $ 857,217 $ 711,934 $ 482,628 $ 264,150 $ 124,435 $ 108,669 $ 2,549,033 Auto loans: YTD gross charge-offs $ 4,068 $ 21,603 $ 18,912 $ 8,552 $ 3,799 $ 4,717 $ 61,651 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 tables. As of December 31, 2024 and 2023 , accrued interest receivable on loans totaled $60.9 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 11 – Accrued Interest Receivable and Other Assets for more information on accrued interest receivable on loans.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	12 Months Ended
	Dec. 31, 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 ACL, see Note 1 – Summary of Significant Accounting Policies. At December 31, 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 December 31, 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 December 31, 2024, the ACL increased by $14.8 million compared to December 31, 2023. The provision for credit losses for 2024, reflected adjustments of $60.2 million related to loan volume, $12.6 million from loss rate model and $13.4 million in specific reserves, The net charge-offs for 2024, amounted to $67.8 million, an increase of $15.9 million when compared to the same period of 2023. The increase is due to $17.0 million from auto loans and $9.0 million from consumer loans mainly as a result of higher loan volume, partially offset by a decrease of $8.8 million from commercial loans. Net charge-offs for 2024 include $3.5 million from previously and fully-reserved nonperforming paycheck protection program (“PPP”) loans, partially offset by by a recovery of $2.6 million from the sale of older, previously fully charged-off auto and consumer loans. The following tables present the activity in OFG’s ACL by segment for 2024, 2023 and 2022: Year Ended December 31, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of year $ 44,041 $ 7,998 $ 27,086 $ 73,485 $ 152,610 Provision for (recapture of) credit losses 6,922 (2,546) 33,832 49,514 87,722 Charge-offs (8,217) (126) (33,266) (61,651) (103,260) Recoveries 2,068 1,069 4,166 26,334 33,637 Balance at end of year $ 44,814 $ 6,395 $ 31,818 $ 87,682 $ 170,709 PCD: Balance at beginning of year $ 1,113 $ 7,351 $ 7 $ 25 $ 8,496 Recapture of provision for credit losses (935) (3,985) (58) (197) (5,175) Charge-offs (967) (178) — (25) (1,170) Recoveries 1,411 1,326 62 204 3,003 Balance at end of year $ 622 $ 4,514 $ 11 $ 7 $ 5,154 Total allowance for credit losses at end of year $ 45,436 $ 10,909 $ 31,829 $ 87,689 $ 175,863 Year Ended December 31, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of year $ 39,158 $ 9,571 $ 23,264 $ 69,848 $ 141,841 Provision for (recapture of) credit losses 18,200 (2,031) 23,302 22,294 61,765 Charge-offs (14,191) (759) (23,655) (43,764) (82,369) Recoveries 874 1,217 4,175 25,107 31,373 Balance at end of year $ 44,041 $ 7,998 $ 27,086 $ 73,485 $ 152,610 PCD: Balance at beginning of year $ 1,388 $ 9,359 $ 14 $ 71 $ 10,832 Provision for (recapture of) credit losses 901 (2,389) 518 (518) (1,488) Charge-offs (2,794) (317) (621) (170) (3,902) Recoveries 1,618 698 96 642 3,054 Balance at end of year $ 1,113 $ 7,351 $ 7 $ 25 $ 8,496 Total allowance for credit losses at end of year $ 45,154 $ 15,349 $ 27,093 $ 73,510 $ 161,106 Total net charge-offs for 2023 included $10.5 million charge-offs of US commercial loans and $906 thousand for a small portfolio of non-performing small business commercial loans that were transferred to the held for sale category and sold subsequently; partially offset by a recovery of $3.7 million from the sale of older, previously fully charged-off auto and consumer loans. Year Ended December 31, 2022 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of year $ 32,262 $ 15,299 $ 19,141 $ 65,363 $ 132,065 Provision for (recapture of) credit losses 19,076 (8,758) 16,084 16,016 42,418 Charge-offs (13,380) (284) (15,198) (32,662) (61,524) Recoveries 1,200 3,314 3,237 21,131 28,882 Balance at end of year $ 39,158 $ 9,571 $ 23,264 $ 69,848 $ 141,841 PCD: Balance at beginning of year $ 4,508 $ 19,018 $ 34 $ 312 $ 23,872 (Recapture of) provision for credit losses (6,855) (10,629) 62 (588) (18,010) Charge-offs (69) (1,695) (176) (310) (2,250) Recoveries 3,804 2,665 94 657 7,220 Balance at end of year $ 1,388 $ 9,359 $ 14 $ 71 $ 10,832 Total allowance for credit losses at end of year $ 40,546 $ 18,930 $ 23,278 $ 69,919 $ 152,673

FORECLOSED REAL ESTATE

FORECLOSED REAL ESTATE	12 Months Ended
	Dec. 31, 2024
Other Real Estate [Abstract]
FORECLOSED REAL ESTATE	FORECLOSED REAL ESTATE The following table presents the activity related to foreclosed real estate for 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (In thousands) Balance at beginning of year $ 10,780 $ 11,214 $ 15,039 Additions 3,497 10,216 7,872 Sales (11,894) (13,880) (16,855) Decline in value (720) (1,152) (1,256) Other adjustments 2,339 4,383 6,414 Balance at end of year $ 4,002 $ 10,780 $ 11,214

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT Premises and equipment at December 31, 2024 and 2023 are stated at cost less accumulated depreciation and amortization as follows: Useful Life December 31, 2024 2023 (In thousands) Land — $ 4,031 $ 4,031 Buildings and improvements 20 — 40 77,267 76,542 Leasehold improvements 1 — 10 23,176 19,145 Furniture and fixtures 3 — 10 23,591 21,377 Information technology and other 3 — 7 69,787 58,898 197,852 179,993 Less: accumulated depreciation and amortization (93,340) (75,891) $ 104,512 $ 104,102 Depreciation and amortization of premises and equipment totaled $20.9 million, $20.4 million and $15.8 million for 2024, 2023 and 2022, respectively. These are included in the consolidated statements of operations as part of occupancy and equipment expenses.

SERVICING ASSETS

SERVICING ASSETS	12 Months Ended
	Dec. 31, 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 2024, OFG acquired the servicing rights to 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 December 31, 2024, the fair value of mortgage servicing rights was $70.4 million ($49.5 million — December 31, 2023). The following table presents the changes in servicing rights measured using the fair value method for 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (In thousands) Fair value at beginning of year $ 49,520 $ 50,921 $ 48,973 Acquired servicing rights 21,427 — — Servicing from mortgage securitization or asset transfers 1,737 2,560 3,998 Changes due to payments on loans (3,979) (4,163) (5,312) Changes in fair value due to changes in valuation model inputs or assumptions 1,730 202 3,262 Fair value at end of year $ 70,435 $ 49,520 $ 50,921 The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value as of December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Constant prepayment rate 1.09% - 15.28% 1.35% - 17.34% 3.43% - 21.20% Discount rate 10.00% - 15.50% 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: December 31, 2024 2023 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 70,435 49,520 Weighted average life (in years) 7.9 7.3 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (1,276) $ (928) Decrease in fair value due to 20% adverse change $ (2,505) $ (1,821) Discount rate Decrease in fair value due to 10% adverse change $ (3,103) $ (1,999) Decrease in fair value due to 20% adverse change $ (5,966) $ (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. In addition, 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 2024, 2023 and 2022 totaled $19.9 million and $19.0 million and $20.3 million, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill attributable to operating segments are reflected in the table below. Goodwill by reportable business segment is included in the table below. Refer to Note 28 – Business Segments for additional information on OFG’s reportable business segments. Banking Wealth Management Treasury Total (In thousands) December 31, 2024 $ 84,063 $ 178 $ — $ 84,241 December 31, 2023 $ 84,063 $ 178 $ — $ 84,241 December 31, 2022 $ 84,063 $ 178 $ — $ 84,241 There were no changes in the carrying amount of goodwill as of December 31, 2024 and 2023. There were no accumulated impairment losses during 2024, 2023 and 2022. 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. During 2024 and 2023, 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 December 31, 2024 and 2023. The following table reflects the components of other intangible assets subject to amortization at December 31, 2024 and 2023: Gross Accumulated Net (In thousands) December 31, 2024 Core deposit intangibles $ 41,507 $ 30,187 $ 11,320 Customer relationship intangibles 12,693 9,231 3,462 Total other intangible assets $ 54,200 $ 39,418 $ 14,782 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 2024 and 2023, 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 December 31, 2024 and 2023. Other intangible assets have a definite useful life. Amortization of other intangible assets for the years ended December 31, 2024, 2023 and 2022, was $5.9 million, $6.9 million and $8.5 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) 2025 4,928 2026 3,942 2027 2,956 2028 1,971 2029 985

ACCRUED INTEREST RECEIVABLE AND

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	12 Months Ended
	Dec. 31, 2024
Accrued Interest Receivable and Other Assets [Abstract]
ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS Accrued interest receivable at December 31, 2024 and 2023 consists of the following: December 31, 2024 2023 (In thousands) Loans $ 60,864 $ 63,526 Investments 10,803 7,874 $ 71,667 $ 71,400 Accrued interest receivable on loans that participated in the Hurricane Fiona and Covid-19 deferral programs amounted to $18.1 million at December 31, 2024, of which $16.3 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 estimates 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 December 31, 2024 and 2023, the ACL for accrued interest receivable for loans that participated in moratorium programs amounted to $68 thousand and $85 thousand, respectively, and is included in accrued interest receivable in the statement of financial condition. Other assets at December 31, 2024 and 2023 consist of the following: December 31, 2024 2023 (In thousands) Prepaid expenses $ 72,093 $ 63,040 Other repossessed assets 6,595 4,032 Accounts receivable and other assets 70,191 47,859 $ 148,879 $ 114,931 Prepaid expenses amounting to $72.1 million at December 31, 2024, include prepaid municipal, property and income taxes aggregating to $62.2 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 $6.6 million and $4.0 million at December 31, 2024 and 2023, respectively, and consist of repossessed automobiles, which are recorded at their net realizable value.

DEPOSITS AND RELATED INTEREST

DEPOSITS AND RELATED INTEREST	12 Months Ended
	Dec. 31, 2024
Deposits and Related Interest [Abstract]
DEPOSITS AND RELATED INTEREST	DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of December 31, 2024 and 2023 consist of the following: December 31, 2024 2023 (In thousands) Non-interest-bearing demand deposits $ 2,493,860 $ 2,537,431 Interest-bearing savings and demand deposits 5,198,462 5,601,099 Retail certificates of deposit 1,170,560 1,083,316 Institutional certificates of deposit 585,829 378,143 Total core deposits 9,448,711 9,599,989 Brokered deposits 156,075 162,180 Total deposits $ 9,604,786 $ 9,762,169 At December 31, 2024 and 2023, the aggregate amount of uninsured deposits was $4.915 billion (51.17% of total deposits) and $4.885 billion (50.04% of total deposits), respectively. The weighted average interest rate of OFG’s deposits was 1.56% and 0.88%, respectively, at December 31, 2024 and 2023. Interest expense for 2024, 2023 and 2022 was as follows: Year Ended December 31, 2024 2023 2022 (In thousands) Demand and savings deposits $ 101,733 $ 48,722 $ 24,261 Certificates of deposit 48,547 27,243 7,978 $ 150,280 $ 75,965 $ 32,239 At December 31, 2024 and 2023, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $1.049 billion and $747.2 million, respectively. At December 31, 2024 and 2023, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $1.445 billion and $1.618 billion, respectively. These public funds were collateralized with securities and commercial loans amounting to $1.507 billion and $1.645 billion at December 31, 2024 and 2023, respectively. Excluding accrued interest of approximately $3.1 million and $3.0 million, the scheduled maturities of certificates of deposit at December 31, 2024 and 2023 are as follows: December 31, 2024 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 645,919 $ 336,912 Over 3 months through 6 months 293,693 99,596 Over 6 months through 1 year 492,799 201,877 1,432,411 638,385 Over 1 through 2 years 340,176 95,690 Over 2 through 3 years 63,044 9,017 Over 3 through 4 years 39,462 4,176 Over 4 through 5 years 33,549 4,084 Over 5 years 722 115 $ 1,909,364 $ 751,467 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 as of December 31, 2024 amounted to $3.2 million, which included

BORROWINGS AND RELATED INTEREST

BORROWINGS AND RELATED INTEREST	12 Months Ended
	Dec. 31, 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-NY under an agreement whereby OFG is required to maintain as collateral an amount of qualifying collateral which has a fair market value that is least equal to the FHLB-NY collateral maintenance level. At December 31, 2024 and 2023, these advances were secured by mortgage and commercial loans amounting to $1.1 billion and $1.0 billion, respectively. Further, at December 31, 2024 and 2023, OFG had an additional borrowing capacity with the FHLB of $383.1 million and $446.0 million, respectively. At December 31, 2024 and 2023, the weighted average remaining maturity of FHLB advances was 4 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 $952 thousand and $768 thousand at December 31, 2024 and 2023, respectively: December 31, 2024 2023 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.56% $ 270,000 $ — 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 $ 325,000 $ 200,000 Advances from FHLB mature as follows: December 31, 2024 2023 (In thousands) Over 90 days to one year $ 270,000 $ — Over one to three years 55,000 200,000 $ 325,000 $ 200,000 Securities Sold under Agreements to Repurchase At December 31, 2024, securities underlying agreements to repurchase were delivered to, and are being held by, the counterparties with whom the repurchase agreements were transacted. The counterparties have agreed to resell to OFG the same or similar securities at the maturity of these agreements. The purpose of these transactions is to provide financing for OFG’s securities portfolio. The following table shows OFG’s repurchase agreements, excluding accrued interest in the amount of $222 thousand at December 31, 2024: December 31, 2024 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.63% $ 75,000 Repurchase agreements’ maturities were as follows: December 31, 2024 (In thousands) Under 90 days $ 75,000 Repurchase agreements referred to above with maturity dates up to the date of this report were renewed as short-term repurchase agreements. The following securities were sold under agreements to repurchase: December 31, 2024 Underlying Securities Amortized Cost of Underlying Securities Balance of Borrowing Approximate Fair Value of Underlying Securities Weighted Average Interest Rate of Security (In thousands) FNMA and FHLMC Certificates $ 81,409 $ 75,000 $ 80,968 5.25 % There were no repurchase agreements at December 31, 2023.

OFFSETTING OF FINANCIAL ASSETS

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2024
Offsetting [Abstract]
OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES	OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES OFG’s securities sold under agreements to repurchase have a right of set-off with the respective counterparty under the supplemental terms of the master repurchase agreements. In an event of default, each party has a right of set-off against the other party for amounts owed in the related agreements and any other amount or obligation owed in respect of any other agreement or transaction between them. Security collateral posted to open and maintain a master netting agreement with a counterparty, in the form of cash and securities, may from time to time be segregated in an account at a third-party custodian pursuant to an account control agreement. The following table presents the potential effect of rights of set-off associated with OFG’s recognized financial assets and liabilities at December 31, 2024: December 31, 2024 Gross Amounts Not Offset in the Statement of Gross Amount Gross Amounts Net Amount of Financial Cash Net (In thousands) Securities sold under agreements to repurchase 75,000 — 75,000 80,968 — (5,968) There were no repurchase agreements at December 31, 2023.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS OFG offers three profit-sharing plans, participation is according to the employment region: Puerto Rico, the United States mainland (the “US”) and the USVI (collectively, the “Plans”). The Puerto Rico employee plan contains a cash or deferred arrangement qualified under Sections 1081.01(a) and 1081.01(d) of the Puerto Rico Internal Revenue Code of 2011, as amended (the “PR Code”), and Sections 401(a) and 401(k) of the United States Internal Revenue Code of 1986, as amended (the “US Code”). Under this plan, participants were permitted to contribute up to $20,000 in 2024. The US and USVI profit-sharing plans provide a cash or deferred arrangement qualified under Sections 401(a) and 401(k) of the United States Internal Revenue Code of 1986, as amended (the “US Code”). Under these plans, participants were permitted to contribute up to $23,000 in 2024. The Plans are subject to the provisions of Title I of the Employee Retirement Income Security Act of 1976, as amended (“ERISA”), and cover all full-time employees of OFG who are 21 or older and at least have three months of employment. OFG’s matching contribution is 50 cents for each dollar contributed by an employee, up to 8% of such employee’s base salary. Each Plan is invested in accordance with the employee’s decision among the available investment alternatives provided by the Plans. The Plans are entitled to acquire and hold qualifying employer securities as part of their investment of the trust assets pursuant to ERISA Section 407. OFG’s contribution becomes 100% vested once the employee completes three years of service. During 2024, 2023 and 2022, OFG contributed $2.9 million, $2.7 million and $2.4 million, respectively, in cash to the Plans. In addition, OFG offers to its senior management a non-qualified deferred compensation plan, whereby participants can defer taxable income. Both the employer and the employee have flexibility because non-qualified plans are generally not subject to ERISA nor the PR Code and the US Code contribution limits and discrimination tests in terms of who must be included in the plan. Under this plan, the employee’s current taxable income is reduced by the amount being deferred. Generally, funds deposited in a deferred compensation plan can accumulate without current income tax to the individual. Income taxes are due when the funds are withdrawn.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS OFG grants loans to its directors and executive officers and to certain related individuals or organizations in the ordinary course of business. These loans are offered at the same terms as loans to unrelated third parties. The activity and balance of these loans for 2024, 2023, and 2022 was as follows: Year Ended December 31, 2024 2023 2022 (In thousands) Balance at the beginning of year $ 27,483 $ 32,792 $ 25,915 New loans and disbursements 1 507 9,706 Repayments (507) (5,816) (2,829) Credits of persons no longer considered related parties (26,639) — — Balance at the end of year $ 338 $ 27,483 $ 32,792 OFG also hired professional services amounting to $3.2 million, $3.3 million and $4.3 million for 2024, 2023, and 2022, respectively, from a related party. OFG, through its banking subsidiary, entered into a commitment to make an equity investment in a limited partnership classified as a small business investment company. The partnership is managed by a Puerto Rico limited liability company, as general partner, which is led by a group of investment professionals, including a person related to a member of OFG’s Board of Directors at that time, which retired in May 2024. OFG, as limited partner, committed to the partnership $3.0 million. At both December 31, 2024 and 2023, OFG’s investment in the partnership amounted to $2.5 million.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES OFG is subject to the provisions of the PR Code. The PR Code imposed a maximum statutory corporate tax rate of 37.5%. OFG has operations in the mainland United States 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, is tax exempt in Grand Cayman. Under the PR Code, all companies are treated as separate taxable entities and are not entitled to file consolidated tax returns. OFG and its subsidiaries organized under the laws of Puerto Rico are generally subject to Puerto Rico regular income tax or the alternative minimum tax (“AMT”) on income earned from all sources. OFG’s subsidiaries organized outside of Puerto Rico are taxed in Puerto Rico only with respect to income from Puerto Rico sources or effectively connected to a Puerto Rico trade or business. The AMT is payable if it exceeds regular income tax. The excess of AMT over regular income tax paid in any one year may be used to offset regular income tax in future years, subject to certain limitations. The components of income tax expense for 2024, 2023, and 2022 were as follows: Year Ended December 31, 2024 2023 2022 (In thousands) Current income tax expense $ 34,017 $ 16,027 $ 16,740 Deferred income tax expense 21,561 67,349 61,126 Total income tax expense $ 55,578 $ 83,376 $ 77,866 In relation to the exempt income level, the Bank’s investment securities portfolio and loans portfolio generated net tax-exempt interest income of $29.5 million, $28.6 million and $26.3 million during 2024, 2023, and 2022, respectively. OIB generated exempt income of $9.1 million, $3.9 million and $4.4 million for 2024, 2023, and 2022, respectively. OFG maintained an effective tax rate lower than statutory rate for 2024, mainly related to exempt investments, investments subject to preferential tax treatment under the PR Code, doing business through OFG’s subsidiaries that are full exempt or have a lower statutory tax rate, and changes on the valuation allowance of OFG. OFG’s income tax expense differs from amounts computed by applying the applicable statutory rate to income before income taxes as follows: Year Ended December 31, 2024 2023 2022 Amount Rate Amount Rate Amount Rate (Dollars in thousands) Income tax expense at statutory rates $ 95,156 37.50 % $ 99,468 37.50 % $ 91,539 37.50 % Tax of exempt income, net (14,485) (5.71) % (12,201) (4.60) % (11,523) (4.72) % Disallowed expense and net operating loss carryover 234 0.09 % (350) (0.13) % (267) (0.11) % Change in valuation allowance (2,168) (0.85) % (1,554) (0.59) % (502) (0.21) % Unrecognized tax benefits, net 69 0.03 % 69 0.03 % 69 0.03 % Capital gain (loss) at preferential rate 5 — % 472 0.18 % (787) (0.32) % Tax rate difference (ordinary vs capital) 23 0.01 % (817) (0.31) % (247) (0.10) % Preferential tax treatment on qualified investment activities (16,021) (6.31) % — — % — — % Return to provision adjustments (2,083) (0.82) % (721) (0.27) % (407) (0.17) % Stock-based compensation windfall (1,232) (0.49) % — — % — — % Difference in tax rates due to multiple jurisdictions (1,929) (0.76) % (963) (0.36) % — — % Tax credits (1,667) (0.66) % — — % — — % Other items, net (324) (0.13) % (27) (0.02) % (9) — % Income tax expense $ 55,578 21.90 % $ 83,376 31.43 % $ 77,866 31.90 % OFG’s effective tax rate for 2024, 2023 and 2022 was 21.9%, 31.4% and 31.9%, respectively. The following table presents a reconciliation of unrecognized tax benefits: Year Ended December 31, 2024 2023 2022 (In thousands) Balance at beginning of year $ 936 $ 867 $ 798 Additions for tax positions of prior years 69 69 69 Balance at end of year $ 1,005 $ 936 $ 867 OFG follows a two-step approach for recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals of litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The amount of unrecognized tax benefits may increase or decrease in the future due to new or current tax year positions, expiration of open income tax returns, changes in management’s judgment about the level of uncertainty, status of examinations, litigation and legislative activity. For 2024, there was a net increase in unrecognized tax benefit of $69 thousand. The statute of limitations under the PR Code is four years and the statute of limitations under the US Code is three years, after a tax return is due or filed, whichever is later. OFG is potentially subject to income tax audits in the Commonwealth of Puerto Rico for taxable years 2020 to 2023, until the applicable statute of limitations expires. In addition, OFG’s US subsidiaries are potentially subject to income tax audits by the IRS for taxable years 2021 to 2023. Tax audits by their nature are often complex and can require several years to complete. The determination of the deferred tax expense or benefit is generally based on changes in the carrying amounts of assets and liabilities that generate temporary differences. The carrying value of OFG’s net deferred tax assets assumes that OFG will be able to generate sufficient future taxable income based on estimates and assumptions. If these estimates and related assumptions change in the future, OFG may be required to record valuation allowances against its deferred tax assets resulting in additional income tax expense in the consolidated statements of operations. Significant components of OFG’s deferred tax assets and liabilities as of December 31, 2024, and 2023 were as follows: December 31, 2024 2023 (In thousands) Deferred tax assets: Allowance for credit losses and other reserves $ 62,913 $ 58,612 Scotiabank PR discount — 463 Loans and other real estate valuation adjustment 1,211 1,905 Deferred loan charge-offs 4,523 16,147 Net operating loss carry forwards 4,878 6,548 Alternative minimum tax 13,822 13,553 Unrealized net loss on available-for-sale securities 16,125 11,525 Goodwill — 3,542 Acquired portfolio 29,620 37,374 Other assets allowances 2,022 1,692 Other deferred tax assets 21,470 16,344 Total gross deferred tax asset 156,584 167,705 Less: valuation allowance (5,421) (7,589) Net gross deferred tax assets 151,163 160,116 Deferred tax liabilities: Acquired loans tax basis (137,022) (137,143) Servicing asset (23,359) (15,516) Building valuation adjustment (5,668) (6,104) FDIC-assisted Eurobank acquisition, net (5,062) (5,481) Customer deposit and customer relationship intangibles (2,981) (4,943) Goodwill (3,167) — Scotiabank PR discount (980) — Other deferred tax liabilities (7,394) (8,450) Total gross deferred tax liabilities (185,633) (177,637) Net deferred tax liability $ (34,470) $ (17,521) The net deferred tax liability shown in the table above at December 31, 2024 is reflected in the consolidated balance sheet as $6.2 million in deferred tax assets, net of a valuation allowance of $4.7 million, and $40.7 million in the deferred tax liabilities, net with a valuation allowance of $694 thousand, reflecting the aggregate deferred tax assets or liabilities of individual tax-paying subsidiaries of OFG. The net deferred tax liability shown in the table above at December 31, 2023 is reflected in the consolidated balance sheet as $4.9 million in deferred tax assets, net of a valuation allowance of $7.0 million, and $22.4 million in the deferred tax liabilities, net with a valuation allowance of $569 thousand, reflecting the aggregate deferred tax assets or liabilities of individual tax-paying subsidiaries of OFG. The decrease in valuation allowance of $2.2 million was mainly related to additional taxable income in OFG’s operations. OFG has $4.9 million in deferred tax asset related to net operating loss carry forwards (“NOL”), which has a valuation allowance of $4.7 million. The NOL has expiration dates between 2025 and 2034. 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 December 31, 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.

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	12 Months Ended
	Dec. 31, 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 (loss) related to both available for sale securities and derivative valuations from Common Equity Tier 1 Capital. The risk-based capital standards applicable to OFG and the Bank (“Basel III capital rules”) are based on the final capital framework for strengthening international capital standards, known as Basel III, of the Basel Committee on Banking Supervision. Pursuant to the Basel III capital rules, OFG and the Bank are required to maintain the following: • A minimum ratio of common equity Tier 1 capital (“CET1”) to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer” that is composed entirely of CET1 capital (resulting in a minimum ratio of CET1 to risk-weighted assets of at least 7.0%). • A minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the capital conservation buffer (resulting in a minimum Tier 1 capital ratio of 8.5%). • A minimum ratio of total capital (Tier 1 capital plus Tier 2 capital) to risk-weighted assets of at least 8.0%, plus the capital conservation buffer (resulting in a minimum total capital ratio of 10.5%). • A minimum leverage ratio of 4.0%, calculated as the ratio of Tier 1 capital to average assets. The federal banking regulatory agencies adopted a final rule pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 that simplifies for banking organizations following non-advanced approaches the regulatory capital treatment for MSAs and certain deferred tax assets arising from temporary differences (temporary difference DTAs). It increased CET1 capital threshold deductions from 10% to 25% and removed the aggregate 15% CET1 threshold deduction. However, it retained the 250% risk weight applicable to non-deducted amounts of MSAs and temporary difference DTAs. On March 27, 2020, in response to the Covid-19 pandemic, U.S. banking regulators issued an interim final rule that OFG adopted to delay for two years the initial adoption impact of CECL on regulatory capital, followed by a three-year transition period to phase out the aggregate amount of the capital benefit provided during 2021 and 2022 (i.e., a five-year transition period). During the two-year delay, OFG added back to CET1 capital 100 percent of the initial adoption impact of CECL plus 25 percent of the cumulative quarterly changes in the ACL (i.e., quarterly transitional amounts). After two years, starting on January 1, 2022, the quarterly transitional amounts along with the initial adoption impact of CECL is being phased out of CET1 capital over a three-year period. As of December 31, 2024 and 2023, OFG and the Bank met all capital adequacy requirements to which they are subject. As of December 31, 2024 and 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 December 31, 2024 and 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 December 31, 2024 Total capital to risk-weighted assets $ 1,367,692 15.52 % $ 925,305 10.50 % $ 881,242 10.00 % Tier 1 capital to risk-weighted assets $ 1,256,906 14.26 % $ 749,056 8.50 % $ 704,994 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,256,906 14.26 % $ 616,870 7.00 % $ 572,807 6.50 % Tier 1 capital to average total assets $ 1,256,906 10.93 % $ 460,138 4.00 % $ 575,172 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 December 31, 2024 Total capital to risk-weighted assets $ 1,301,684 14.86 % $ 919,781 10.50 % $ 875,982 10.00 % Tier 1 capital to risk-weighted assets $ 1,191,547 13.60 % $ 744,585 8.50 % $ 700,786 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,191,547 13.60 % $ 613,187 7.00 % $ 569,388 6.50 % Tier 1 capital to average total assets $ 1,191,547 10.45 % $ 456,144 4.00 % $ 570,179 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 %

STOCK-BASED COMPENSATION PLAN

STOCK-BASED COMPENSATION PLAN	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLAN	STOCK-BASED COMPENSATION PLAN The Omnibus Plan provides for stock-based compensation incentives through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, and dividend equivalents, as well as stock-based performance awards. The activity in outstanding options for 2024, 2023, and 2022 is set forth below: Year Ended December 31, 2024 2023 2022 Number Weighted Number Weighted Number Weighted Beginning of year 16,600 $ 16.92 234,950 $ 16.38 338,494 $ 15.76 Options exercised (15,200) 16.88 (218,350) 16.34 (103,544) 14.34 End of year 1,400 $ 17.44 16,600 $ 16.92 234,950 $ 16.38 The following table summarizes the range of exercise prices and the weighted average remaining contractual life of the options outstanding at December 31, 2024: Outstanding Exercisable Range of Exercise Prices Number of Weighted Weighted Number of Weighted 16.91 to 19.71 1,400 17.44 0.2 1,400 17.44 Aggregate Intrinsic Value $ 34,832 $ 34,832 There were no options granted during 2024, 2023 and 2022. The average fair value of each option granted would have been estimated at the date of the grant using the Black-Scholes option pricing model. The Black-Scholes option-pricing model was developed for use in estimating the fair value of traded options that have no restrictions and are fully transferable and negotiable in a free trading market. Black-Scholes does not consider the employment, transfer or vesting restrictions that are inherent in OFG’s stock options. Use of an option valuation model, as required by GAAP, includes highly subjective assumptions based on long-term predictions, including the expected stock price volatility and average life of each option grant. The following table summarizes the activity in restricted units under the Omnibus Plan for 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Restricted Weighted Restricted Weighted Restricted Weighted Beginning of year 410,997 $ 25.43 408,832 $ 22.27 511,740 $ 19.35 Restricted units granted 290,193 35.57 204,048 27.84 178,281 27.89 Restricted units lapsed (268,406) 25.31 (181,692) 20.85 (277,866) 17.08 Restricted units forfeited (54,494) 30.17 (20,191) 25.18 (3,323) 22.89 End of year 378,290 $ 32.61 410,997 $ 25.43 408,832 $ 22.27 The total unrecognized compensation cost related to non-vested restricted units to members of management at December 31, 2024 was $7.2 million and is expected to be recognized over a weighted-average period of 1.8 years.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Common Stock At both December 31, 2024 and 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 December 31, 2024 and 2023, accumulated common stock issuance costs charged against additional paid-in capital amounted to $13.6 million. Legal Surplus The 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 December 31, 2024 and 2023, the Bank’s legal surplus amounted to $169.5 million and $151.0 million, respectively. During 2024, 2023 and 2022 OFG transferred $18.6 million, $17.1 million and $16.2 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, the Board of Directors approved a $50.0 million stock repurchase program. The new stock repurchase program, which is open-ended, replaced the prior stock repurchase program, which had been approved by the Board of Directors in January 2022 and had $17.2 million remaining of its $100 million repurchase parameters. In October 2024, the Board of Directors approved a new $50.0 million stock repurchase program, in addition to the stock repurchase program approved in January 2024. 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 2024, OFG repurchased 1,791,414 shares for a total of $70.3 million at an average price of $39.26 per share. During 2023 and 2022, OFG repurchased 743,699 and 2,351,868 shares, respectively, for a total of $18.7 million and $64.1 million at an average price of $25.08 and $27.26 per share. These repurchases were part of the stock repurchase programs approved for those periods. At December 31, 2024, the estimated remaining number of shares that may be purchased under the $50.0 million programs is 701,236 and was calculated by dividing the remaining balance of $29.7 million by $42.32 (closing price of OFG’s common stock at December 31, 2024). OFG did not repurchase any shares of its common stock during 2024, 2023 and 2022 other than through its publicly announced stock repurchase programs. The activity in connection with common shares held in treasury by OFG for 2024, 2023 and 2022 is set forth below: Year Ended December 31, 2024 2023 2022 Shares Dollar Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of year 12,820,078 $ 228,350 12,303,859 $ 211,135 10,248,882 $ 150,572 Common shares used upon lapse of restricted stock units and options (166,527) (1,683) (227,480) (1,438) (296,891) (3,547) Common shares repurchased as part of the stock repurchase programs 1,791,414 70,324 743,699 18,653 2,351,868 64,110 End of year 14,444,965 $ 296,991 12,820,078 $ 228,350 12,303,859 $ 211,135

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss, net of income taxes, as of December 31, 2024 and 2023 consisted of: December 31, 2024 2023 (In thousands) Unrealized loss on securities available-for-sale $ (105,930) $ (78,497) Income tax effect of unrealized loss on securities available-for-sale 16,091 11,484 Net unrealized loss on securities available-for-sale (89,839) (67,013) Accumulated other comprehensive loss, net of income taxes $ (89,839) $ (67,013) The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for 2024, 2023 and 2022: Year Ended December 31, 2024 Net unrealized loss on securities available-for-sale (In thousands) Beginning balance $ (67,013) Other comprehensive loss (22,826) Ending balance $ (89,839) Year Ended December 31, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (93,663) $ 254 $ (93,409) Other comprehensive income (loss) before reclassifications 27,792 (5,647) 22,145 Amounts reclassified out of accumulated other comprehensive loss (1,142) 5,393 4,251 Other comprehensive income (loss) 26,650 (254) 26,396 Ending balance $ (67,013) $ — $ (67,013) Year Ended December 31, 2022 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 5,663 $ (503) $ 5,160 Other comprehensive (loss) income before reclassifications (99,087) 24 (99,063) Amounts reclassified out of accumulated other comprehensive loss (239) 733 494 Other comprehensive (loss) income (99,326) 757 (98,569) Ending balance $ (93,663) $ 254 $ (93,409) The following table presents reclassifications out of accumulated other comprehensive loss for 2024, 2023 and 2022: Amount reclassified out of accumulated other comprehensive loss Year Ended December 31, Affected Line Item in 2024 2023 2022 (In thousands) Cash flow hedges: Interest-rate contracts $ — $ 5,393 $ 733 Net interest expense Available-for-sale securities: Loss on sale of investments (7) (1,149) (247) Net loss on sale of securities Tax effect from changes in tax rates 7 7 8 Income tax expense $ — $ 4,251 $ 494

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The calculation of earnings per common share for 2024, 2023 and 2022 is as follows: Year Ended December 31, 2024 2023 2022 (In thousands, except per share data) Income available to common shareholders $ 198,170 $ 181,872 $ 166,239 Average common shares outstanding 46,637 47,258 48,033 Effect of dilutive securities: Average potential common shares-options 265 294 403 Total weighted average common shares outstanding and equivalents $ 46,902 $ 47,552 $ 48,436 Earnings per common share - basic $ 4.25 $ 3.85 $ 3.46 Earnings per common share - diluted $ 4.23 $ 3.83 $ 3.44 For 2024, 2023 and 2022 weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to 1,220, 8,695 and 1,279, respectively. During 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	12 Months Ended
	Dec. 31, 2024
Guarantees [Abstract]
GUARANTEES	GUARANTEES At December 31, 2024 and 2023, the notional amount of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $25.3 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 December 31, 2024 and 2023, the unpaid principal balance of residential mortgage loans sold subject to credit recourse under the residential mortgage loan sales programs was $90.5 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 December 31, 2024, OFG's liability for estimated credit losses related to loans sold with credit recourse amounted to $155 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 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (In thousands) Balance at beginning of year $ 102 $ 147 $ 294 Net recoveries (charge-offs/terminations) 53 (45) (147) Balance at end of year $ 155 $ 102 $ 147 The expected loss, which represents the amount expected to be lost on a given loan, considers the PD and loss severity. The PD 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 2024, 2023 and 2022, OFG repurchased $455 thousand, $1.2 million and $1.5 million, 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 2024, 2023 and 2022, OFG repurchased $6.1 million, $9.6 million and $24.2 million, respectively, of unpaid principal balance in mortgage loans, excluding mortgage sold subject to such credit recourse provision. At December 31, 2024 and 2023, OFG had a $562 thousand and a $405 thousand liability, respectively, for the estimated credit losses related to these loans. During 2024, 2023 and 2022, OFG recognized $53 thousand in losses, $220 thousand in gains and $148 thousand in gains, respectively, from the repurchase of residential mortgage loans sold subject to credit recourse, and $659 thousand in losses, $678 thousand in gains, and $281 thousand in losses, respectively, from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties. At December 31, 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 December 31, 2024, the outstanding balance of funds advanced by OFG under such mortgage loan servicing agreements was approximately $5.0 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	12 Months Ended
	Dec. 31, 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 December 31, 2024 and 2023 were as follows: December 31, 2024 2023 (In thousands) Commitments to extend credit $ 1,360,351 $ 1,255,695 Commercial letters of credit 1,096 119 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 December 31, 2024 and 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 December 31, 2024 and 2023, is as follows: December 31, 2024 2023 (In thousands) Standby letters of credit and financial guarantees $ 25,321 $ 23,970 Loans sold with recourse 90,464 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 December 31, 2024 and 2023, the ACL for off-balance sheet credit exposures corresponding to commitments to extend credit and standby letters of credit amounted to $878 thousand and $1.2 million, respectively, and is included in other liabilities in the statement of financial condition. At December 31, 2024 and 2023, OFG maintained other non-credit commitments amounting to $14.6 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 December 31, 2024 and 2023, OFG had commitments for capital expenditures in technology amounting to $953 thousand 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 December 31, 2024 and 2023, accrued liability for legal contingencies amounted to $407 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 $64 thousand and $1.4 million, respectively, as of December 31, 2024 and 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	12 Months Ended
	Dec. 31, 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 Year Ended December 31, 2024 2023 2022 Statement of Operations (In thousands) Lease costs $ 9,474 $ 10,414 $ 10,467 Occupancy and equipment Variable lease costs 1,697 1,452 1,529 Occupancy and equipment Short-term lease costs 384 529 565 Occupancy and equipment Lease income (77) (123) (226) Occupancy and equipment Total lease costs $ 11,478 $ 12,272 $ 12,335 Operating Lease Assets and Liabilities December 31, 2024 2023 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 19,197 $ 21,725 Operating lease right-of-use assets Lease Liabilities $ 21,388 $ 24,029 Operating leases liabilities December 31, 2024 2023 (In thousands) Weighted-average remaining lease term 4.8 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 December 31, 2024 were as follows: Minimum Rent As of December 31, 2024 (In thousands) 2025 $ 7,434 2026 5,265 2027 4,331 2028 3,239 2029 1,848 Thereafter 3,535 Total lease payments $ 25,652 Less imputed interest 4,264 Present value of lease liabilities $ 21,388 OFG, as lessor, leases and subleases real property to tenants under operating leases. As of December 31, 2024, no material lease concessions have been granted to tenants. As of December 31, 2024, OFG, as lessee, has not requested any lease concessions.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 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 December 31, 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 DCF 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: December 31, 2024 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 1,150 $ 2,337,055 $ — $ 2,338,205 Trading securities — 18 — 18 Money market investments 6,670 — — 6,670 Servicing assets — — 70,435 70,435 $ 7,820 $ 2,337,073 $ 70,435 $ 2,415,328 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 6,877 $ 6,877 Foreclosed real estate — — 4,002 4,002 Other repossessed assets — — 6,595 6,595 Mortgage loans held for sale — — 13,286 13,286 Other loans held for sale — — 4,446 4,446 $ — $ — $ 35,206 $ 35,206 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 December 31, 2024 and 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 2024, 2023 and 2022: Level 3 Instruments Only Year Ended December 31, 2024 2023 2022 Servicing Assets Other debt securities available for sale Servicing Assets Total Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning of year $ 49,520 $ 406 $ 50,921 $ 51,327 1,530 $ 48,973 $ 50,503 New instruments acquired 23,164 — 2,560 2,560 376 3,998 4,374 Principal repayments and amortization (3,979) — (4,163) (4,163) — (5,312) (5,312) Instrument converted to equity security — (406) — (406) (1,581) — (1,581) Gains included in earnings 1,730 — 202 202 — 3,262 3,262 Gains included in other comprehensive income — — — — 81 — 81 Balance at end of year $ 70,435 $ — $ 49,520 $ 49,520 $ 406 $ 50,921 $ 51,327 Servicing assets gains included in earnings during 2024, 2023 and 2022 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 9 – Servicing Assets. There were no liabilities measured at fair value on a recurring basis and non-recurring basis at December 31, 2024 and 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 December 31, 2024 and 2023: December 31, 2024 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 70,435 Cash flow valuation Constant prepayment rate 1.09% - 15.28% 5.83 % Discount rate 10.00% - 15.50% 11.61 % Collateral dependent loans $ 6,877 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 18.14 % Foreclosed real estate $ 4,002 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 13.16 % Other repossessed assets $ 6,595 Fair value of property Estimated net realizable value less disposition costs 37.00% - 69.00% 54.73 % Mortgage loans held for sale $ 13,286 Market prices Pricing and execution whole loan 89.38% - 101.38% 95.01 % Other loans held for sale $ 4,446 Bids or sales contract prices Estimated market value 101.21% - 101.21% 101.21 % 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 December 31, 2024 and 2023 was as follows: December 31, 2024 December 31, 2023 Fair Carrying Fair Carrying (In thousands) Financial Assets: Level 1 Cash and cash equivalents $ 591,137 $ 591,137 $ 748,173 $ 748,173 Investment securities available-for-sale $ 1,150 $ 1,150 $ 296,799 $ 296,799 Level 2 Financial Assets: Trading securities $ 18 $ 18 $ 13 $ 13 Investment securities available-for-sale $ 2,337,055 $ 2,337,055 $ 1,802,465 $ 1,802,465 Investment securities held-to-maturity $ 232,152 $ 292,158 $ 455,709 $ 514,024 Federal Home Loan Bank (FHLB) stock $ 24,280 $ 24,280 $ 14,488 $ 14,488 Equity securities $ 30,616 $ 30,616 $ 23,981 $ 23,981 Level 3 Financial Assets: Investment securities held-to-maturity $ 35,022 $ 35,000 $ 35,055 $ 35,000 Total loans, net (including loans held-for-sale) $ 7,567,075 $ 7,633,831 $ 7,282,214 $ 7,401,618 Accrued interest receivable $ 71,667 $ 71,667 $ 71,400 $ 71,400 Servicing assets $ 70,435 $ 70,435 $ 49,520 $ 49,520 Accounts receivable and other assets $ 70,191 $ 70,191 $ 47,859 $ 47,589 Financial Liabilities: Deposits $ 9,625,803 $ 9,604,786 $ 9,767,068 $ 9,762,169 Securities sold under agreements to repurchase $ 75,226 $ 75,222 $ — $ — Advances from FHLB $ 324,510 $ 325,952 $ 199,184 $ 200,768 Other borrowings $ — $ — $ 2 $ 2 Accrued expenses and other liabilities $ 146,771 $ 146,771 $ 115,985 $ 115,985 The following methods and assumptions were used to estimate the fair values of significant financial instruments at December 31, 2024 and 2023: • Cash and cash equivalents (including money market investments), 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 DCF 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 PD and LGD 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 long-term borrowings, which include securities sold under agreements to repurchase and advances from FHLB are 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	12 Months Ended
	Dec. 31, 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 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (In thousands) Banking service revenues: Electronic banking fees $ 52,275 $ 54,109 $ 54,639 Checking accounts fees 8,102 8,924 8,933 Savings accounts fees 1,233 1,334 1,265 Credit life commissions 134 318 724 Branch service commissions 1,323 1,538 1,456 Servicing and other loan fees 3,090 3,120 3,222 International fees 748 720 902 Miscellaneous income 18 15 20 Total banking service revenues $ 66,923 $ 70,078 71,161 Wealth management revenue: Insurance income $ 17,991 $ 17,178 15,084 Broker fees 8,781 7,375 6,793 Trust fees 8,850 8,402 10,013 Other fees — 35 745 Total wealth management revenue $ 35,622 $ 32,990 32,635 Mortgage banking activities: Net servicing fees $ 17,291 $ 15,077 18,258 Net gains on sale of mortgage loans and valuation 2,026 2,993 3,786 Net (loss) gain on repurchased loans and other (681) 717 (115) Total mortgage banking activities $ 18,636 $ 18,787 21,929 Total banking and financial service revenues $ 121,181 $ 121,855 $ 125,725 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. In 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 service 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 other 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 (loss) gain on repurchased loans and other are out of the scope of ASC 606.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 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. 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, reinsurance, corporate 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. The accounting policies of the segments are the same as those referred to in Note 1 – “Summary of Significant Accounting Policies”. 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. Financial results are presented, to the extent practicable, as if each business operated on a standalone basis, and includes expense allocations for corporate services used by the business segments, disclosed as intersegment expenses. Significant expense categories identified by management are disclosed for all segments, even though it may not be significant to a particular segment. OFG’s chief operating decision maker (“CODM”) is the chief executive officer (“CEO”). The CODM evaluates the performance of the Banking, Wealth Management and Treasury segments primarily based on net income, which guides resource allocation across segments. CODM continuously monitors performance and adjusts as necessary. Additionally, OFG employs a forecasting process to project future performance and resource needs, which are reviewed and updated regularly to ensure alignment with strategic goals. Following are the results of operations and the selected financial information by operating segment for 2024, 2023 and 2022: Year Ended December 31, 2024 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 619,328 $ 26 $ 134,970 $ 754,324 $ (4,047) $ 750,277 Interest expense (147,661) — (18,223) (165,884) 4,047 (161,837) Net interest income 471,667 26 116,747 588,440 — 588,440 (Provision for) recapture of credit losses (82,436) — 185 (82,251) — (82,251) Non-interest income, net 86,720 36,522 7 123,249 — 123,249 Non-interest expenses [1] Compensation and employee benefits (149,194) (9,527) (989) (159,710) — (159,710) Occupancy, equipment and infrastructure costs (37,407) (721) (121) (38,249) — (38,249) Depreciation and amortization of premises and equipment (20,807) (48) (19) (20,874) — (20,874) Electronic banking charges (42,816) — — (42,816) — (42,816) Information technology expenses (27,394) (187) (1) (27,582) — (27,582) Professional and service fees (15,804) (2,875) (197) (18,876) — (18,876) Loan servicing and clearing expenses (5,937) (1,455) (543) (7,935) — (7,935) Amortization of other intangible assets (1,385) — — (1,385) — (1,385) Intersegment expenses 3,518 (2,121) (1,397) — — — Other [2] (56,173) (1,720) (370) (58,263) — (58,263) Total non-interest expense (353,399) (18,654) (3,637) (375,690) — (375,690) Income before income taxes $ 122,552 $ 17,894 $ 113,302 $ 253,748 $ — $ 253,748 Income tax expense (55,402) (10) (166) (55,578) — (55,578) Net income $ 67,150 $ 17,884 $ 113,136 $ 198,170 $ — $ 198,170 Total assets $ 9,513,074 $ 34,219 $ 3,192,845 $ 12,740,138 $ (1,239,404) $ 11,500,734 Expenditures for long-lived assets $ 21,336 — $ — $ — $ 21,336 $ — $ 21,336 [1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. [2] Other non-interest expenses include: Banking: Taxes, other than payroll and income taxes; insurance; advertising; communication; printing, postage, stationary and supplies; travels, meals and training; credit related expenses; director and investor relations; loss on sale of foreclosed real estate and other repossessed properties; losses and operational errors, among other business expenses. Wealth Management: Reinsurance incurred net losses; taxes, other than payroll and income taxes; advertising; insurance; data communication and systems, among other business expenses. Treasury: Data communication and systems; taxes, other than payroll and income taxes; insurance, among other business expenses. Eliminations include interest income and expense for a time deposit opened by the Bank in Oriental Overseas, the IBE unit, which operates within the Bank. The time deposit with a balance of $278.4 million and $300.3 million at December 31, 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. Year Ended December 31, 2023 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 567,809 $ 28 $ 95,477 $ 663,314 $ (14,434) $ 648,880 Interest expense (73,480) — (28,964) (102,444) 14,434 (88,010) Net interest income 494,329 28 66,513 560,870 — 560,870 Provision for credit losses (60,255) — (383) (60,638) — (60,638) Non-interest income, net 97,099 32,433 (1,151) 128,381 — 128,381 Non-interest expenses [1] Compensation and employee benefits (147,241) (7,627) (959) (155,827) — (155,827) Occupancy, equipment and infrastructure costs (38,251) (484) (112) (38,847) — (38,847) Depreciation and amortization of premises and equipment (20,315) (50) (23) (20,388) — (20,388) Electronic banking charges (41,336) — — (41,336) — (41,336) Information technology expenses (26,946) (204) (12) (27,162) — (27,162) Professional and service fees (15,878) (2,646) (240) (18,764) — (18,764) Loan servicing and clearing expenses (5,806) (1,417) (551) (7,774) — (7,774) Amortization of other intangible assets (1,615) — — (1,615) — (1,615) Intersegment expenses 1,641 (1,011) (630) — — — Other [2] (47,100) (2,999) (1,553) (51,652) — (51,652) Total non-interest expense (342,847) (16,438) (4,080) (363,365) — (363,365) Income before income taxes $ 188,326 $ 16,023 $ 60,899 $ 265,248 $ — $ 265,248 Income tax expense (83,242) (34) (100) (83,376) — (83,376) Net income $ 105,084 $ 15,989 $ 60,799 $ 181,872 $ — $ 181,872 Total assets $ 9,154,201 $ 38,261 $ 3,304,204 $ 12,496,666 $ (1,152,213) $ 11,344,453 Expenditures for long-lived assets $ 17,853 $ 2 $ 2 $ 17,857 $ — $ 17,857 [1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. [2] Other non-interest expenses include: Banking: Taxes, other than payroll and income taxes; insurance; advertising; communication; printing, postage, stationary and supplies; travels, meals and training; credit related expenses; director and investor relations; loss on sale of foreclosed real estate and other repossessed properties; losses and operational errors, among other business expenses. Wealth Management: Reinsurance incurred net losses; taxes, other than payroll and income taxes; advertising; insurance; data communication and systems, among other business expenses. Treasury: Data communication and systems; taxes, other than payroll and income taxes; insurance, among other business expenses. Year Ended December 31, 2022 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 465,177 $ 21 $ 56,955 $ 522,153 $ (6,850) $ 515,573 Interest expense (31,926) — (8,147) (40,073) 6,850 (33,493) Net interest income 433,251 21 48,808 482,080 — 482,080 Provision for credit losses (24,111) — (8) (24,119) — (24,119) Non-interest income, net 98,407 33,481 (198) 131,690 — 131,690 Non-interest expenses [1] Compensation and employee benefits (132,840) (9,174) (916) (142,930) — (142,930) Occupancy, equipment and infrastructure costs (34,369) (1,033) (95) (35,497) — (35,497) Depreciation and amortization of premises and equipment (15,724) (58) (29) (15,811) — (15,811) Electronic banking charges (39,554) — — (39,554) — (39,554) Information technology expenses (21,669) (222) — (21,891) — (21,891) Professional and service fees (21,818) (2,774) (250) (24,842) — (24,842) Loan servicing and clearing expenses (7,203) (1,396) (562) (9,161) — (9,161) Amortization of other intangible assets (2,001) — — (2,001) — (2,001) Intersegment expenses 2,187 (1,497) (690) — — — Other [2] (47,947) (4,549) (1,363) (53,859) — (53,859) Total non-interest expense (320,938) (20,703) (3,905) (345,546) — (345,546) Income before income taxes $ 186,609 $ 12,799 $ 44,697 $ 244,105 $ — $ 244,105 Income tax expense (77,731) (97) (38) (77,866) — (77,866) Net income $ 108,878 $ 12,702 $ 44,659 $ 166,239 $ — $ 166,239 Total assets $ 8,347,767 $ 23,085 $ 2,432,549 $ 10,803,401 $ (984,621) $ 9,818,780 Expenditures for long-lived assets $ 30,982 $ 17 $ — $ 30,999 $ — $ 30,999 [1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. [2] Other non-interest expenses include: Banking: Taxes, other than payroll and income taxes; insurance; advertising; communication; printing, postage, stationary and supplies; travels, meals and training; credit related expenses; director and investor relations; loss on sale of foreclosed real estate and other repossessed properties; losses and operational errors, among other business expenses. Wealth Management: Reinsurance incurred net losses; taxes, other than payroll and income taxes; advertising; insurance; data communication and systems, among other business expenses. Treasury: Data communication and systems; taxes, other than payroll and income taxes; insurance, among other business expenses.

OFG BANCORP (HOLDING COMPANY ON

OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION	OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION As a bank holding company subject to the regulations and supervisory guidance of the Federal Reserve Board, OFG Bancorp generally should inform the Federal Reserve Board and eliminate, defer or significantly reduce its dividends if: (i) its net income available to shareholders for the past four quarters, net of dividends previously paid during that period, is not sufficient to fully fund the dividends; (ii) its prospective rate of earnings retention is not consistent with its capital needs and overall current and prospective financial condition; or (iii) it will not meet, or is in danger of not meeting, its minimum regulatory capital adequacy ratios. The payment of dividends by the Bank to OFG Bancorp may also be affected by other regulatory requirements and policies, such as the maintenance of certain regulatory capital levels. During 2024, 2023 and 2022, the Bank paid $75.0 million, $45.0 million and $140.0 million, respectively, in dividends to OFG Bancorp. During 2024 and 2023 OFG Reinsurance paid $3.2 million and $4.0 million, respectively, in dividends to OFG Bancorp. During 2022, OFG Reinsurance did not pay dividends to OFG Bancorp. During 2024 and 2022, Oriental Insurance paid $9.5 million and $9.5 million, respectively, in earnings and profits to OFG Bancorp. During 2023, Oriental Insurance did not pay earnings and profits to OFG Bancorp. OFG BANCORP CONDENSED STATEMENTS OF FINANCIAL POSITION INFORMATION (Holding Company Only) The following condensed financial information presents the financial position of the holding company only as of December 31, 2024 and 2023, and the results of its operations and its cash flows for 2024, 2023 and 2022: December 31, 2024 2023 (In thousands) ASSETS Cash and cash equivalents $ 40,570 $ 73,121 Investment in bank subsidiary, equity method 1,188,830 1,094,581 Investment in nonbank subsidiaries, equity method 38,879 40,145 Deferred tax asset, net 231 293 Due from bank subsidiary, net 57 56 Other assets 504 371 Total assets $ 1,269,071 $ 1,208,567 LIABILITIES AND STOCKHOLDERS’ EQUITY Dividends payable 11,640 10,355 Accrued expenses and other liabilities 3,051 4,729 Due to non-bank subsidiary, net 9 3 Total liabilities 14,700 15,087 Stockholders’ equity 1,254,371 1,193,480 Total liabilities and stockholders’ equity $ 1,269,071 $ 1,208,567 OFG BANCORP CONDENSED STATEMENTS OF OPERATIONS INFORMATION (Holding Company Only) Year Ended December 31, 2024 2023 2022 (In thousands) Income: Interest income $ 3,667 $ 3,712 $ 977 Investment trading activities, net and other 9,586 7,040 6,022 Total income 13,253 10,752 6,999 Expenses: Interest expense — — 521 Operating expenses 9,562 8,230 7,992 Total expenses 9,562 8,230 8,513 Income (loss) before income taxes 3,691 2,522 (1,514) Income tax expense 3,881 3,846 2,782 Loss before earnings of subsidiaries (190) (1,324) (4,296) Equity in earnings from: Bank subsidiary 185,699 170,658 162,236 Nonbank subsidiaries 12,661 12,538 8,299 Net income $ 198,170 $ 181,872 $ 166,239 OFG BANCORP CONDENSED STATEMENTS OF COMPREHENSIVE INCOME INFORMATION (Holding Company Only) Year Ended December 31, 2024 2023 2022 (In thousands) Net income $ 198,170 $ 181,872 $ 166,239 Other comprehensive (loss) income before tax: Other comprehensive (loss) income from bank subsidiary (22,826) 26,396 (98,569) Other comprehensive (loss) income before taxes (22,826) 26,396 (98,569) Income tax effect — — — Other comprehensive (loss) income after taxes (22,826) 26,396 (98,569) Comprehensive income $ 175,344 $ 208,268 $ 67,670 OFG BANCORP CONDENSED STATEMENTS OF CASH FLOWS INFORMATION (Holding Company Only) Year Ended December 31, 2024 2023 2022 (In thousands) Cash flows from operating activities: Net income $ 198,170 $ 181,872 $ 166,239 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings from banking subsidiary (185,699) (170,658) (162,236) Equity in earnings from nonbanking subsidiaries (12,661) (12,538) (8,299) Net decrease in due to non-bank subsidiary, net 5 3 — Gain on early extinguishment of debt — — (42) Stock-based compensation 642 731 652 Deferred income tax, net 62 630 1,703 Net decrease in other assets 5,413 1,270 18,829 Net (decrease) increase in accrued expenses and other liabilities (1,836) 2,149 (488) Dividends from banking subsidiary 75,000 45,000 140,000 Dividends and earnings and profits from non-banking subsidiaries 12,700 4,000 9,500 Net cash provided by operating activities 91,796 52,459 165,858 Cash flows from investing activities: Capital contribution to non-banking subsidiary (4,000) — — Additions to premises and equipment (9) (30) (233) Net cash used in investing activities (4,009) (30) (233) Cash flows from financing activities: Subordinated capital notes — — (34,958) Exercise of stock options and restricted units lapsed, net (4,368) (1,689) (906) Purchase of treasury stock (70,324) (18,653) (64,110) Dividends paid (45,646) (41,011) (30,090) Net cash used in financing activities (120,338) (61,353) (130,064) Net change in cash and cash equivalents (32,551) (8,924) 35,561 Cash and cash equivalents at beginning of year 73,121 82,045 46,484 Cash and cash equivalents at end of year $ 40,570 $ 73,121 $ 82,045

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 29, 2025, as part of OFG's capital actions for 2025, the Board of Directors approved the increase of its regular quarterly cash dividend by 20% to $0.30 per common share from $0.25, beginning the quarter ended March 31, 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 198,170	$ 181,872	$ 166,239

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	OFG has a comprehensive framework in place to assess, identify and manage material risks from cybersecurity threats. Our Information Security Officer (“ISO”) is responsible for overseeing and implementing OFG’s cybersecurity risk management framework as part of our broader Information Security Program approved by our Board. Our cybersecurity risk management framework is integrated into OFG’s broader risk management system with a focus on monitoring key risk indicators within a defined risk tolerance set by our Board. Our cybersecurity risk management framework is focused on the following key areas: • Regular cybersecurity risk assessments; • Design and implementation of controls to mitigate any identified cybersecurity risks; • Continuous evaluation of the effectiveness of such controls; and • Implementation of an incident response plan that includes procedures for responding to cybersecurity incidents. In addition, our cybersecurity risk management framework incorporates three lines of defense, each with defined roles and responsibilities. OFG conducts an annual cybersecurity maturity assessment to (a) evaluate its cybersecurity risk management practices and (b) develop action plans for improving its cybersecurity risk management program. The cybersecurity risk management framework also establishes standards or controls for the design of our cybersecurity infrastructure, including with respect to monitoring and preventing cybersecurity incidents, authenticating the identity of persons authorized to access critical information resources, and assessing safeguards that must be implemented by our external vendors and service providers. OFG uses external consultants and other third-party service providers to monitor our information systems for any cyberattacks, impersonators or unauthorized releases of sensitive customer data, as well as performing investigations and penetration testing, identifying system vulnerabilities and required software patches, monitoring and managing firewalls, and advising on systems and cloud architecture. OFG also conducts due diligence of third-party software and related services and reviews cybersecurity reports from technology services providers to ensure that our cybersecurity infrastructure can respond to evolving cybersecurity risks relevant to our business. Pursuant to our cybersecurity risk management framework, our Information Security team develops an annual information security awareness plan to educate employees as to OFG’s standards, processes and practices with respect to information security, potential cybersecurity threats and proper use of information security resources entrusted to them, with the goal of minimizing possible employee security risks. Our Information Security team engages third-party consultants to assist us in the evaluation of our cybersecurity risk management practices to identify risks, perform social engineering exercises, and provide annual cybersecurity training.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our cybersecurity risk management framework is focused on the following key areas: • Regular cybersecurity risk assessments; • Design and implementation of controls to mitigate any identified cybersecurity risks; • Continuous evaluation of the effectiveness of such controls; and • Implementation of an incident response plan that includes procedures for responding to cybersecurity incidents. In addition, our cybersecurity risk management framework incorporates three lines of defense, each with defined roles and responsibilities. OFG conducts an annual cybersecurity maturity assessment to (a) evaluate its cybersecurity risk management practices and (b) develop action plans for improving its cybersecurity risk management program.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board is responsible for overseeing OFG’s cybersecurity efforts and approving the Information Security Program, which sets forth OFG’s policy regarding the confidentiality, integrity and availability of its information assets. The Board’s Risk and Compliance Committee more directly oversees the implementation of the Information Security Program and receives quarterly reports on any cybersecurity risks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board’s Risk and Compliance Committee more directly oversees the implementation of the Information Security Program and receives quarterly reports on any cybersecurity risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our ISO provides quarterly reports to our Executive Risk and Compliance Team, which is comprised of several executive officers of OFG. In addition, our Chief Risk Officer reports to the Board’s Risk and Compliance Committee and, when necessary, the Board.
Cybersecurity Risk Role of Management [Text Block]	Our Board is responsible for overseeing OFG’s cybersecurity efforts and approving the Information Security Program, which sets forth OFG’s policy regarding the confidentiality, integrity and availability of its information assets. The Board’s Risk and Compliance Committee more directly oversees the implementation of the Information Security Program and receives quarterly reports on any cybersecurity risks. Our ISO, under the supervision of our Chief Risk Officer, leads the development and implementation of the Information Security Program. In addition, our Information Technology Department (“IT”) also has a dedicated cybersecurity team under the supervision of our Chief Information Officer. Members of our Information Security and IT cybersecurity teams have over 50 years of combined experience in information technology systems and cybersecurity risk management and include a team member that has a ISACA Certified Information Systems Auditor certification and two team members each with a master’s degree in cybersecurity. Our ISO provides quarterly reports to our Executive Risk and Compliance Team, which is comprised of several executive officers of OFG. In addition, our Chief Risk Officer reports to the Board’s Risk and Compliance Committee and, when necessary, the Board. Any identified cybersecurity incidents must be reported to the ISO and the mitigation and remediation thereof is performed by the Incident Response Team, which is led by the ISO and composed of key executives, with identified call trees and key service providers to support the coordination of a rapid response. In the last three fiscal years, OFG has not experienced any material cybersecurity incidents, and expenses incurred from any cybersecurity incidents were immaterial. For more information on the risks to the Company of future cybersecurity threats or incidents, see “Item 1A, Risk Factors — Operations and Business Risks.”
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our ISO, under the supervision of our Chief Risk Officer, leads the development and implementation of the Information Security Program. In addition, our Information Technology Department (“IT”) also has a dedicated cybersecurity team under the supervision of our Chief Information Officer. Members of our Information Security and IT cybersecurity teams have over 50 years of combined experience in information technology systems and cybersecurity risk management and include a team member that has a ISACA Certified Information Systems Auditor certification and two team members each with a master’s degree in cybersecurity.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Members of our Information Security and IT cybersecurity teams have over 50 years of combined experience in information technology systems and cybersecurity risk management and include a team member that has a ISACA Certified Information Systems Auditor certification and two team members each with a master’s degree in cybersecurity.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Any identified cybersecurity incidents must be reported to the ISO and the mitigation and remediation thereof is performed by the Incident Response Team, which is led by the ISO and composed of key executives, with identified call trees and key service providers to support the coordination of a rapid response.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 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, the Bank, a securities broker-dealer and investment adviser, Oriental Financial Services, an insurance agency, Oriental Insurance, a captive reinsurance company, OFG Reinsurance, and OFG Ventures, which holds 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 trust services. Effective December 31, 2022, OFG sold its retirement plan administration business, which was operated under a retirement plan administrator, OPC, which thereafter ceased its operations. The results for the year 2022 included OPC operations. OFG conducts its business through its main office in San Juan, Puerto Rico, forty-two branches in Puerto Rico and two branches in the USVI. OFG has three subsidiaries with operations in Puerto Rico: the Bank, Oriental Financial Services and Oriental Insurance; one subsidiary in the United States, OFG Ventures; and a subsidiary in the Cayman Islands, OFG Reinsurance. OFG is subject to supervision and regulation by the Federal Reserve Board under the U.S. Bank Holding Company Act of 1956, as amended, and the Dodd-Frank Act. The Bank is subject to the supervision, examination and regulation of the Office of the OCFI and the FDIC. During 2024, the Bank became subject to the CFPB supervisory and enforcement authority with respect to consumer financial laws. The Bank has a wholly owned operating subsidiary, OFG USA, which is a commercial lender organized in Delaware. OIB, a wholly owned subsidiary of the Bank, and Oriental Overseas, a division of the Bank, are IBEs 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 persons located in Puerto Rico with assets/liabilities located outside of Puerto Rico. In March 2024, the Bank organized OBPEF, as a wholly owned subsidiary of the Bank and a private equity fund under the 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. The Bank’s USVI operations are also subject to the supervision, examination and regulation of the USVI Banking Board. Oriental Financial Services is registered as a securities broker-dealer and as an investment adviser, and is subject to the supervision, examination and regulation of the FINRA, the SEC, and the OCFI. Oriental Financial Services is also a member of the Securities Investor Protection Corporation. Oriental Insurance is an insurance agency and is subject to the supervision, examination and regulation of the Office of the Commissioner of Insurance of Puerto Rico. OFG Reinsurance is subject to regulation by the CIMA. OFG’s mortgage banking activities are conducted through a division of the Bank. The mortgage banking activities include the origination of mortgage loans for the Bank’s own portfolio, the sale of loans directly in the secondary market or the securitization of conforming loans into mortgage-backed securities, and the purchase or assumption of the right to service loans originated by others. The Bank originates FHA insured and VA guaranteed mortgages that are primarily securitized for issuance of GNMA mortgage-backed securities which can be resold to individual or institutional investors in the secondary market. Conventional loans that meet the underwriting requirements for sale or exchange under certain FNMA or FHLMC programs are referred to as conforming mortgage loans and are also securitized for issuance of FNMA or FHLMC mortgage-backed securities. The Bank is an approved seller of FNMA mortgage loans for issuance of FNMA mortgage-backed securities. The Bank is also an approved issuer of GNMA mortgage-backed securities. The Bank is the master servicer of its mortgage loan portfolio and the GNMA, FNMA and FHLMC pools that it issues. Through December 31, 2022, the Bank had a subservicing arrangement with a third party for a portion of its acquired loan portfolio. This subservicing arrangement expired on May 1, 2023, and since then, OFG no longer has any subservicing arrangements for its loan portfolio.
Principles of Consolidation	Principles of Consolidation
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate mainly to the determination of the ACL, the valuation of securities, the determination of income taxes, impairment of securities, and goodwill valuation and impairment assessment.
Earnings per Common Share	Earnings per Common Share Basic earnings per share is calculated by dividing income available to common shareholders by the weighted average of outstanding common shares. Diluted earnings per share is similar to the computation of basic earnings per share except that the weighted average of common shares is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares underlying stock options and restricted units had been issued, assuming that proceeds from exercise are used to repurchase shares in the market (treasury stock method). Any dividends are retroactively recognized in all periods presented in the consolidated financial statements.
Cash Equivalents	Cash Equivalents OFG considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less.
Investment Securities	Investment Securities OFG classifies its investments in debt securities into one of three categories: Held-to-maturity - Securities that management has the intent and ability to hold to maturity. These securities are carried at amortized cost. An ACL is established for the expected credit losses over the remaining term of debt securities held to maturity. OFG’s portfolio of held to maturity securities is comprised of obligations from the U.S. Government. These securities have an explicit or implicit guarantee from the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. Other debt securities held to maturity are securities issued by a public corporation and governmental instrumentality of the Commonwealth of Puerto Rico, and guaranteed by such agency with no history of credit losses. Accordingly, OFG applies a zero-credit loss assumption and no ACL for these securities has been established. OFG monitors its securities portfolio composition and credit performance on a quarterly basis to determine if any allowance is considered necessary. Available-for-sale - Securities to be held for indefinite periods of time. These securities are carried at fair value. Declines in fair value below the securities’ amortized cost which are not related to estimated credit losses are recorded through other comprehensive income or loss, net of taxes. If OFG intends to sell or believes it is more likely than not that it will be required to sell the debt security, it is written down to fair value through earnings. Credit losses relating to available-for-sale debt securities are recorded through an ACL, which are limited to the difference between the amortized cost and the fair value of the asset. The ACL is established for the expected credit losses over the remaining term of debt security. OFG’s portfolio of AFS securities is comprised mainly of US Treasury securities and obligations from the U.S. Government. These securities have an explicit or implicit guarantee from the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. Accordingly, OFG applies a zero-credit loss assumption and no ACL for these securities has been established. OFG monitors its securities portfolio composition and credit performance on a quarterly basis to determine if any allowance is considered necessary. Debt securities available-for-sale are written-off when a portion or the entire amount is deemed uncollectible, based on the information considered to develop expected credit losses through the life of the asset. The specific identification method is used to determine realized gains and losses on debt securities available-for-sale, which are included in net gain (loss) on sale of securities in the consolidated statements of operations. Trading - Securities held for resale in anticipation of short-term market movements. These securities are carried at fair value, with changes in unrealized holding gains and losses included in non-interest income in the consolidated statements of operations. Management determines the appropriate classification of securities at the time of purchase. Premiums and discounts are amortized to interest income over the life of the related securities using the interest method. Net realized gains or losses on sales of investment securities and unrealized gains and losses valuation adjustments considered other than temporary, if any, on securities classified as either available-for-sale or held-to-maturity are reported separately in the consolidated statements of operations. Purchases and sales of securities are recorded at trade date. The cost of securities sold is determined by the specific identification method. Equity securities do not have readily available fair values and are measured at cost, less any impairment. Impairment is reviewed on a quarterly basis through a qualitative assessment from financial and non-financial information received from the individual investment funds and companies. As of December 31, 2024 and 2023 and for the years then ended, there were no impairments, downward or upward adjustments, annual or on a cumulative basis for these investments. Stock that is owned by OFG to comply with regulatory requirements, such as FHLB stock, is included in this category, and their realizable value equals their cost. Unrealized and realized gains and losses and any impairment on equity securities are included in net gain (loss) in the consolidated statements of operations. Dividend income from investments in equity securities is included in interest income in the consolidated statements of operations.
Financial Instruments	Financial Instruments Certain financial instruments, including trading securities, and investment securities available-for-sale are recorded at fair value and unrealized gains and losses are recorded in other comprehensive (loss) income or as part of non-interest income, as appropriate. Fair values are based on listed market prices, if available. If listed market prices are not available, fair value is determined based on other relevant factors, including price quotations for similar instruments. OFG determines the fair value of its financial instruments based on the fair value measurement framework, which establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 — Level 1 assets and liabilities include equity securities, debt securities, and money market investment that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include (i) mortgage-backed securities for which the fair value is estimated based on valuations obtained from third-party pricing services for identical or comparable assets and (ii) debt securities with quoted prices that are traded less frequently than exchange-traded instruments. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models for which the determination of fair value requires significant management judgment or estimation. OFG’s policy is to recognize any transfer into or out of the Levels referred to above at the date of the event or change in circumstances that caused the transfer.
Other Loans Held-for-Sale and Transfers Of Other Loans From Held-For-Investment to Held-for-Sale	Other Loans Held-For-Sale and Transfers of Other Loans from Held-for-Investment to Held-for-Sale Other loans reported as held-for-sale are non-mortgage loans which are stated at the lower of amortized cost or fair value, cost being determined on the outstanding loan balance less unearned income, and fair value determined in the aggregate. The amount for which amortized cost exceeds fair value is recognized through a valuation allowance by a charge to income in the period in which the change occurs. Realized gains or losses on these loans are determined using the specific identification method. Other loans held-for-sale include commercial loans that were designated as held-for-investment at origination or purchase, but that OFG subsequently decided to sell to other institutions.
Mortgage Banking Activities and Mortgage Loans Held-For-Sale	Mortgage Banking Activities and Mortgage Loans Held-For-Sale The residential mortgage loans reported as held-for-sale are stated at the lower of amortized cost or fair value, cost being determined on the outstanding loan balance less unearned income, and fair value determined in the aggregate. The amount for which amortized cost exceeds fair value is recognized through a valuation allowance by a charge to income in the period in which the change occurs. Realized gains or losses on these loans are determined using the specific identification method. Mortgage loans held-for-sale include all conforming mortgage loans originated and purchased, which from time to time OFG sells to other financial institutions or securitizes conforming mortgage loans into GNMA, FNMA and FHLMC pass-through certificates .
Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities	Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities OFG recognizes the financial and servicing assets it controls and the liabilities it has incurred, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. OFG is not engaged in sales of mortgage loans and mortgage-backed securities subject to recourse provisions except for those provisions that allow for the repurchase of loans as a result of a breach of certain representations and warranties other than those related to the credit quality of the loans included in the sale transactions. The transfer of an entire financial asset, a group of entire financial assets, or a participating interest in an entire financial asset in which OFG surrenders control over the assets is accounted for as a sale if all of the following conditions set forth in Accounting Standards Codification (“ASC”) Topic 860 are met: (i) the assets must be isolated from creditors of the transferor, (ii) the transferee must obtain the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the transferor cannot maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. When OFG transfers financial assets and the transfer fails any one of these criteria, OFG is prevented from derecognizing the transferred financial assets and the transaction is accounted for as a secured borrowing. For transfers of financial assets that satisfy the conditions to be accounted for as sales, OFG derecognizes all assets sold; recognizes all assets obtained and liabilities incurred in consideration as proceeds of the sale, including servicing assets and servicing liabilities, if applicable; initially measures at fair value assets obtained and liabilities incurred in a sale; and recognizes in earnings any gain or loss on the sale. The guidance on transfer of financial assets requires a true sale analysis of the treatment of the transfer under state law as if OFG was a debtor under the bankruptcy code. A true sale legal analysis includes several legally relevant factors, such as the intent of the parties, the nature and level of recourse to the transferor, and the nature of retained interests in the loans sold. The analytical conclusion as to a true sale is never absolute and unconditional, and contains qualifications based on the inherent equitable powers of a bankruptcy court, as well as any unsettled matters of state law or common law. Once the legal isolation test has been met, other factors concerning the nature and extent of the transferor’s control over the transferred assets are taken into account in order to determine whether derecognition of assets is warranted. When OFG sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. Conforming conventional mortgage loans are combined into pools which are exchanged for FNMA and GNMA mortgage-backed securities, which are generally sold to private investors, or sold directly to FNMA or other private investors for cash. To the extent the loans do not meet the specified characteristics, investors are generally entitled to require OFG to repurchase such loans or indemnify the investor against losses if the assets do not meet certain guidelines. GNMA programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which OFG provides servicing. At OFG’s option and without GNMA’s prior authorization, OFG may repurchase such delinquent loans for an amount equal to 100% of the loan’s remaining principal balance. This buy-back option is considered a conditional option until the delinquency criteria is met, at which time the option becomes unconditional. When the loans backing a GNMA security are initially securitized, OFG treats the transaction as a sale for accounting purposes because the conditional nature of the buy-back option means that OFG does not maintain effective control over the loans and, therefore, these are derecognized from the statement of financial condition. When individual loans later meet GNMA’s specified delinquency criteria and are eligible for repurchase, OFG is deemed to have regained effective control over these loans, and these must be brought back into OFG’s books as assets, regardless of whether OFG intends to exercise the buy-back option. Quality review procedures are performed by OFG as required under the government agency programs to ensure that asset guideline qualifications are met. OFG records a contingent liability for these customary representations and warranties related to loans sold by OFG and is presented within other liabilities in the consolidated statements of financial condition. For more information refer to Note 24 – Commitments and Contingencies. OFG has liability for residential mortgage loans sold subject to credit recourse, principally loans associated with FNMA residential mortgage loan sales and securitization programs. In the event of any customer default, 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 in the event of nonperformance by the borrowers is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. In the event of nonperformance by the borrower, OFG has rights to the underlying collateral securing the mortgage loan. OFG suffers ultimate losses on these loans when the proceeds from a foreclosure sale of the property underlying a defaulted mortgage loan are less than the outstanding principal balance of the loan plus any uncollected interest advanced and the costs of holding and disposing the related property. OFG has established a liability to cover the estimated credit loss exposure related to loans sold with credit recourse. The estimated losses to be absorbed under the credit recourse arrangements are recorded as a liability when the loans are sold or credit recourse is assumed as part of acquired servicing rights, and are updated by accruing or reversing expense (included as mortgage banking activities in the consolidated statements of operations) throughout the life of the loan, as necessary, when additional relevant information becomes available. The methodology used to estimate the recourse liability is a function of the recourse arrangements given and considers historical and forecast loss experience. The methodology leverages the expected loss framework for mortgage loans to estimate expected future losses. The reserve for the estimated losses under the credit recourse arrangements is presented separately within other liabilities in the consolidated statements of financial condition. For more information refer to Note 24 – Commitments and Contingencies.
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. All separately recognized servicing assets are recognized at fair value using the fair value measurement method. Under the fair value measurement method, OFG measures servicing rights at fair value at each reporting date and reports changes in the fair value of servicing assets in the statements of operations in the period in which the changes occur, and includes these changes, if any, with mortgage banking activities in the consolidated statements of operations. The fair value of servicing rights is subject to fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. The fair value of servicing rights 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.
Loans and Allowance for Credit Losses	Loans and ACL Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts, deferred loan fees, and costs. Loans held for investment that were not purchased with credit deterioration are referred to as non-PCD loans, and loans that were purchased with credit deterioration are referred to as PCD loans. OFG discontinues accrual of interest after payments become more than 90 days past due or earlier if OFG does not expect the full collection of principal or interest, except for residential mortgage loans insured or guaranteed under applicable FHA and VA programs that are not placed in non-accrual status until they become 12 months or more past due, as they are insured loans. At that time, any accrued income is reversed. The delinquency status is based on the contractual terms of the loans. Loans for which the recognition of interest income has been discontinued are designated as non-accruing. Thereafter, collections are accounted for as a cash method, until qualifying to return to accrual status. Such loans are not reinstated to accrual status until interest is received on a current basis and other factors indicative of doubtful collection cease to exist. The determination as to the ultimate collectability of the loan’s balance may involve management’s judgment in the evaluation of the borrower’s financial condition and prospects for repayment. Interest income is based on the effective yield on the non-PCD loans. PCD Loans: OFG has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. OFG considered the following factors as indicators that an acquired loan had evidence of deterioration in credit quality: loans that were 90 days or more past due; loans that had an internal loan grade of substandard or worse - substandard loans have a well-defined weakness that jeopardizes collection of the loan; loans that were classified as nonaccrual by the acquired bank at the time of acquisition; and loans that had been previously modified in a financial difficulties modification or previously identified as troubled debt restructuring. As such, our PCD loans are recorded at the purchase price plus the ACL expected at the time of acquisition or implementation of the standard. An ACL is determined using an UDCF methodology. 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, for these loans, the determination of nonaccrual or accrual status is made at the pool level, not the individual loan level. On the adoption of CECL, the ACL was determined for each pool and added to the pool’s carrying amount to establish a new amortized cost basis. The difference between the unpaid principal balance of the pool and the new amortized cost basis is the non-credit premium or discount, which will be amortized interest income over the remaining life of the pool. On a quarterly basis, management will monitor the composition and behavior of the pools to assess the ability for cash flow estimation and timing. If, based on the analysis performed, the pool is classified as non-accrual, the accretion/amortization of the non-credit (discount) premium will cease. Changes to the ACL are recorded through the provision expense. ACL – Loans: OFG adopted CECL, which utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans at the time the financial asset is originated or acquired. The ACL is adjusted each period for changes in expected credit losses. The ACL is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Determining the amount of the ACL is complex and requires extensive judgment by management about matters that are inherently uncertain. Re-evaluation of the ACL estimate in future periods in light of changes in the composition and characteristics of the loan portfolio, changes in the reasonable and supportable forecast, and other factors then prevailing may result in material changes in the amount of the ACL and credit loss expense in those future periods. Loans are charged off against the ACL when management believes the uncollectability of a loan balance is confirmed. OFG continues to monitor and modify the level of the ACL to ensure it is adequate. Our methodology for estimating expected credit losses for our loan portfolios includes the following key components: • Expected credit losses are estimated on a collective basis for groups of loans that share similar risk characteristics. Factors that may be considered in aggregating loans for this purpose include, but are not necessarily limited to, product or collateral type, internal risk rating, credit characteristics such as credit scores or collateral types, and historical or expected credit loss patterns. • Credit losses for loans that do not share similar risk characteristics are estimated on an individual basis. Individual evaluations are typically performed for commercial nonaccrual modified loans classified as financial difficulties modifications or previously identified as troubled debt restructurings, and commercial classified loans that do not share common risk characteristics. The lifetime losses for individually measured loans are estimated based on one of several methods, including the estimated fair value of the underlying collateral, the observable market value of similar debt, or the present value of expected cash flows. • ACL reserves are estimated over the contractual term of the financial asset adjusted for expected prepayments. As part of the calculation of the contractual term, the expected extension is generally not considered unless the option to extend the loan cannot be canceled unilaterally by OFG. In the case of unconditionally cancellable accounts, such as credit cards, reserves are based on the expected life of the balance as of the evaluation date (assuming no further charges) and do not include any undrawn commitments that are unconditionally cancellable. • The quantitative model utilizes a DCF or UDCF approach to estimate expected credit losses using the probability of default (“PD”), loss given default (“LGD”), and exposure at default (“EAD”). DCF method is used for most of the non-PCD portfolio, and the UDCF method for the PCD portfolio. For the EAD, OFG uses a prepayment model that projects prepayments over the life of the loans. • An economic forecast period based on the relationship of losses with key economic variables for each portfolio segment; OFG has elected a 2-year reasonable and supportable forecast period, with an additional 1-year to mean straight-line reversion occurring within the credit loss models based on the economic inputs. The length of the reasonable and supportable forecast is evaluated at each reporting period and adjusted if deemed necessary. • Inclusion of qualitative adjustment to consider factors for asset-specific risk characteristics to the extent they do not exist in the historical information that has not been accounted for and could impact the amount of future losses. For example, factors that OFG considers include changes in lending policies and procedures, business conditions, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due loans and nonaccrual loans, the effect of external factors such as competition, and legal and regulatory requirements, among others. • The estimate of credit losses includes expected recoveries of amounts previously charged off as well as consideration of expected amounts to be written off. If a loan has been charged off, the expected cash flows on the loan are not limited by the current amortized cost balance. Instead, expected cash flows can be assumed up to the unpaid principal balance immediately prior to the charge-off. • The ACL excludes accrued interest since all our products are subject to a non-accrual and timely write-off policy, except for accrued interest receivable on loans that participated in the Covid-19 and Hurricane Fiona deferral programs with delinquency status between 30 and 89 days past due, in which a reserve is calculated by applying the corresponding loan projected loss factors to the accrued interest receivable balance. Accrued interest receivable totaled $60.9 million and $63.5 million on December 31, 2024 and 2023, respectively, reported in accrued interest receivable on the consolidated statement of financial condition. Accrued interest receivable on loans that participated in the Covid-19 and Hurricane Fiona deferral programs amounted to $18.1 million at December 31, 2024 (December 31, 2023 - $20.2 million), of which $16.3 million (December 31, 2023 - $18.2 million) corresponds to loans in current status. ACL for accrued interest receivable on loans that participated in the deferral programs amounted to $68 thousand and $85 thousand at December 31, 2024 and 2023, respectively. In our loss forecasting framework, OFG incorporates forward-looking information through the use of macroeconomic scenarios. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, unemployment rates, employment rates, real estate prices, gross domestic product levels, GNP levels, and retail sales. As any one economic outlook is inherently uncertain, OFG leverages multiple scenarios. The scenarios that are re-evaluated each quarter and the amount of weighting 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. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income through the life of the loan. OFG has identified the following portfolio segments, commercial loans, mortgage loans, consumer loans, and auto loans, and measures the ACL using the methods described below for each. Commercial Loans – The segmentation of commercial loans was established by business line, collateral type, size, and delinquency or risk rating/classification to assess the loans based on common risk characteristics. The segmentation aligns with OFG’s current credit policies and procedures for these portfolios. The estimate of expected credit losses on commercial loans is forecasted using models that estimate credit losses over the loan’s contractual life at an individual loan level. The models use the contractual terms to forecast future principal cash flows while also considering expected prepayments, considering that all our lines of credit are unconditionally cancellable. The loss forecasting model determines the probabilities of transition to different credit risk ratings or defaults at each point over the life of the asset based on the borrower’s current credit risk rating and business segment. Assumptions of expected loss are conditioned to the economic outlook, and the model considers key economic variables such as the unemployment rate, GNP (Puerto Rico-related projections), gross domestic product (U.S. projections), and employment rates (U.S. projections). Loans that do not share risk characteristics are evaluated on an individual basis. Individual evaluations are typically performed for nonaccrual modified loans classified as FDMs or as previous TDRs, and classified loans that do not share common risk characteristics. Loans evaluated individually are not included in the collective evaluation. When management determines that foreclosure is probable or when the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate, as OFG elected the collateral-dependent practical expedient. For loans evaluated individually that are not collateral dependent, a DCF method is used to determine the ACL. Commercial loans are placed on non-accrual status when they become 90 days or more past due and are written down, if necessary, based on the specific evaluation of the underlying collateral, if any. OFG’s lending activities in the continental United States – referred to as commercial US loans – are conducted through OFG USA and OIB. These activities include the purchase of middle market senior secured cash flow loan participations and the purchase of participations of loans to small and medium sized businesses. Mortgage Loans – This segment includes traditional mortgages, non-traditional mortgages, mortgages in the loss mitigation program, residential performing FDMs and previous TDRs, and residential non-performing FDMs and previous TDRs. The most significant attribute in estimating OFG’s lifetime expected credit losses is the vintage of the traditional mortgage segment. The estimates are based on OFG’s historical experience with the loan portfolio, adjusted to reflect the economic outlook. The outlook on the housing price index and unemployment are key factors that impact the frequency and severity of loss estimates. OFG expects to collect the amortized cost basis of government insured residential loans due to the nature of the government guarantee, so the ACL is zero for these loans. Mortgage loans are placed on non-accrual status when they become 90 days or more past due and are written-down, if necessary, based on the specific evaluation of the collateral underlying the loan, except for FHA and VA insured mortgage loans which are placed in non-accrual when they become 12 months or more past due. For loans that are more than 180 days past due, with the exception of OFG’s fully insured portfolio, the outstanding balance of loans that is in excess of the estimated property value after adjusting for costs to sell is charged off. If the estimated property value decreases in periods subsequent to the initial charge-off, OFG will record additional charge-offs. Consumer Loans – This portfolio consists of smaller retail loans such as unsecured personal loans, unsecured personal lines of credit, retail credit cards, and overdrafts. The estimates are based on OFG’s historical experience with the loan portfolios, adjusted to reflect the economic outlook. The outlook on the GNP and personal bankruptcy rate are key factors that impact the frequency and severity of loss estimates. Credit cards are revolving lines of credit without a defined maturity date. OFG elected to apply the remaining life methodology for the credit cards and overdrafts. The remaining life methodology takes projected losses based on the economic forecast for credit cards and historical losses on the overdraft segment, based on the expected remaining life of that pool. Future draws on the credit card lines are excluded from the estimated expected credit losses as they are unconditionally cancellable. Consumer loans are placed on non-accrual status when they become 90 days past due and written-off when payments are delinquent, 120 days in personal loans, and 180 days in credit cards and personal lines of credit. Auto loans - This portfolio consists of auto loans. The most significant attribute in estimating OFG’s expected credit losses is the FICO score. The estimates are based on OFG’s historical experience with the loan portfolio, adjusted to reflect the economic outlook. The outlook on GNP and employment rate are key factors that impact the frequency and severity of loss estimates. Auto loans are placed on non-accrual status when they become 90 days past due, partially written-off to collateral value when payments are delinquent 120 days, and fully written-off when payments are delinquent 180 days. For the principal enhancements that management made to its methodology, refer to Note 6 – Allowance for Credit Losses.
Financial Difficulties Modifications	Financial Difficulties Modifications On January 1, 2023, OFG adopted ASU 2022-02, which eliminated the recognition and measurement of TDRs and enhanced disclosures for loan restructurings for borrowers experiencing financial difficulty, or FDMs, using the prospective transition method. Loans that were restructured in a TDR prior to the adoption of ASU 2022-02 will continue to be accounted for under the historical TDR accounting until the relevant loans are paid off, liquidated or subsequently modified. Since adoption, all restructurings, including restructurings for borrowers experiencing financial difficulty, are evaluated to determine whether they result in a new loan or a continuation of an existing loan. Loan restructurings for borrowers experiencing financial difficulty are generally accounted for as a continuation of the existing loan as the terms of the restructured loans are typically not at market rates. When a loan is restructured, OFG measures impairment on the loan using a DCF approach that utilizes the loan’s restructured terms, including the post-restructuring interest rate. A modification is subject to disclosure under the new ASU when OFG separately concludes that both of the following conditions exist: (i) the debtor is experiencing financial difficulties, and (ii) the modification constitutes a reduction in the interest rate on the loan, a payment extension, a forgiveness of principal, or a more-than-insignificant payment delay, or a combination of any of these. Determination that a borrower is experiencing financial difficulties involves a degree of judgment. The identification of FDMs is critical in the determination of the adequacy of the ACL. A FDM is typically in non-accrual status at the time of the modification. These loans continue in non-accrual status until the borrower has demonstrated a willingness and ability to make the restructured loan payments for at least six months of sustained performance after the modification and management has concluded that it is probable that the borrower would not be in payment default in the foreseeable future.
Foreclosed Real Estate and Other Repossessed Assets	Foreclosed Real Estate and Other Repossessed Assets Foreclosed real estate and other repossessed assets, mainly repossessed automobiles, are initially recorded at the fair value of the real estate or repossessed assets less the cost of selling it at the date of foreclosure or repossession. At the time properties are acquired in full or partial satisfaction of loans, any excess of the loan balance over the estimated fair value of the property is charged against the ACL. After foreclosure or repossession, these properties are carried at the lower of cost or fair value less estimated cost to sell based on recent appraised values or options to purchase the foreclosed or repossessed assets. Any excess of the carrying value over the estimated fair value, less estimated costs to sell, is charged to non-interest expense. The costs and expenses associated to holding these properties in portfolio are expensed as incurred.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill is recognized when the purchase price is higher than the fair value of net assets acquired in business combinations under the purchase method of accounting. OFG’s goodwill is not amortized to expense but is tested for impairment at least annually, and on a more frequent basis, if events or circumstances indicate impairment could have taken place. Such events could include, among others, a significant adverse change in the business climate, an adverse action by a regulator, an unanticipated change in the competitive environment, and a decision to change the operations or dispose of a reporting unit. A quantitative annual impairment test is not required if, based on a qualitative analysis, OFG determines that the existence of events and circumstances indicates that it is more likely than not that goodwill is not impaired. OFG performs an annual goodwill impairment test as of October 31 and monitors interim triggering events on an ongoing basis. OFG tests for impairment based on the allocation of goodwill and other assets and liabilities, as necessary, to defined reporting segments. A fair value is then determined for each reporting segment. If the fair values of the reporting segments exceed their book values, no write down of the recorded goodwill is necessary. If the fair values are less than the book values, an additional valuation procedure is necessary to assess the proper carrying value of the goodwill. Reporting segment valuation is inherently subjective, with a number of factors based on assumptions and management judgments or estimates. Actual values may differ significantly from such estimates. Among these are future growth rates for the reporting segments, selection of comparable market transactions, discount rates, and earnings capitalization rates. Changes in assumptions and results due to economic conditions, industry factors, and reporting unit performance and cash flow projections could result in different assessments of the fair values of reporting segments and could result in impairment charges. If an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting segment below its carrying amount, an interim impairment test is required. Other identifiable intangible assets with a finite useful life, mainly core deposits and customer relationships, are amortized using various methods over the periods benefited, which range from 3 to 10 years. These intangibles are evaluated periodically for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairments on intangible assets with a finite useful life are evaluated under the guidance for impairment or disposal of long-lived assets.
Premises and Equipment	Premises and Equipment Premises and equipment are carried at cost less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful life of each type of asset. Amortization of leasehold improvements is computed using the straight-line method over the terms of the leases or estimated useful lives of the improvements, whichever is shorter.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets OFG periodically reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In performing the review for recoverability, an estimate of the future cash flows expected to result from the use of the asset and its eventual disposition is made. If the sum of the future cash flows (undiscounted and without interest charges) is less than the carrying amount of the assets, an impairment loss is recognized. The amount of the impairment is the excess of the carrying amount over the fair value of the asset. As of December 31, 2024 and 2023, there was no indication of impairment as a result of such review.
Off-Balance Sheet Instruments	Off-Balance Sheet Instruments In the ordinary course of business, OFG enters into off-balance sheet instruments consisting of commitments to extend credit, further discussed in Note 24 – Commitments and Contingencies hereto. Such financial instruments are recorded in the financial statements when these are funded or related fees are incurred or received. OFG periodically evaluates the credit risks inherent in these commitments and establishes reserves for such risks if and when these are deemed necessary.
Allowance for Credit Losses on Off-Balance Sheet Credit Exposures	ACL on Off-Balance Sheet Credit Exposures OFG estimates the expected credit losses related to unfunded lending commitments such as letters of credit, financial guarantees, unfunded banker’s acceptances, and binding loan commitments. Reserves are estimated for the unfunded exposure using the same factors as the funded exposure and are reported as reserves for unfunded lending commitments. Net adjustments to the reserve for unfunded commitments are included in the provision for credit losses in the consolidated statements of operations.
Securities Sold Under Agreements to Repurchase	Securities Sold Under Agreements to Repurchase From time to time, OFG sells securities under agreements to repurchase the same or similar securities. OFG retains effective control over the securities sold under these agreements. Accordingly, such agreements are treated as financing arrangements, and the obligations to repurchase the securities sold are reflected as liabilities. The securities underlying the financing agreements remain included in the asset accounts. The counterparty to repurchase agreements generally has the right to repledge the securities received as collateral.
Income Taxes	Income Taxes In preparing the consolidated financial statements, OFG is required to estimate income taxes. This involves an estimate of current income tax expense together with an assessment of deferred taxes resulting from differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. An asset versus liability classification exercise is completed for each applicable tax paying entity in each tax jurisdiction and deferred tax assets and liabilities are offset within each jurisdiction. Accordingly, in a single balance sheet, a net deferred tax asset and a net deferred liability may appear. The determination of current income tax expense involves estimates and assumptions that require OFG to assume certain positions based on its interpretation of current tax laws and regulations. Changes in assumptions affecting estimates may be required in the future, and estimated tax assets or liabilities may need to be increased or decreased accordingly. The accrual for tax contingencies is adjusted in light of changing facts and circumstances, such as the progress of tax audits, case law and emerging legislation. When particular matters arise, a number of years may elapse before such matters are audited and finally resolved. Favorable resolution of such matters could be recognized as a reduction to OFG’s effective tax rate in the year of resolution. Unfavorable settlement of any particular issue could increase the effective tax rate and may require the use of cash in such year. OFS is a pass-through entity not subject to income taxes at the company level, and the parent will be subject to Puerto Rico income taxes on its distributable share of OFS taxable income under the partnership provisions of the PR Code. At the date of the election all tax attributes of OFS were also transferred to the parent. The same tax treatment applies to Oriental Insurance. Pursuant to these elections OFG is required to pay income taxes on its distributable share of earnings and profits of both entities. In the case of losses reported by any of the entities, such losses may be offset with the taxable income of the other entity. However, OFG is not permitted to use its operating losses to offset the taxable income of its partnerships. The determination of deferred tax expense or benefit is based on changes in the carrying amounts of assets and liabilities that generate temporary differences. The carrying value of OFG’s net deferred tax assets assumes that it will be able to generate sufficient future taxable income based on estimates and assumptions. If these estimates and related assumptions change in the future, OFG may be required to record valuation allowances against its deferred tax assets resulting in additional income tax expense in the consolidated statements of operations. Management evaluates on a regular basis whether the deferred tax assets can be realized and assesses the need for a valuation allowance. A valuation allowance is established when management believes that it is more likely than not that some portion of its deferred tax assets will not be realized. Changes in valuation allowance from period to period are included in OFG’s tax provision in the period of change. In addition to valuation allowances, OFG establishes accruals for uncertain tax positions when, despite the belief that OFG’s tax return positions are fully supported, OFG believes that certain positions are likely to be challenged. The accruals for uncertain tax positions are adjusted in light of changing facts and circumstances, such as the progress of tax audits, case law, and emerging legislation. The accruals for OFG’s uncertain tax positions are reflected as income tax payable as a component of accrued expenses and other liabilities. These accruals are reduced upon expiration of the applicable statute of limitations. OFG follows a two-step approach for recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. OFG’s policy is to include interest and penalties related to unrecognized income tax benefits within the provision for income taxes on the consolidated statements of operations. OFG is potentially subject to income tax audits in the Commonwealth of Puerto Rico for taxable years 2020 to 2023, until the applicable statute of limitations expires. In addition, OFG’s US subsidiaries are potentially subject to income tax audits by the IRS for taxable years 2021 to 2023. Tax audits by their nature are often complex and can require several years to complete.
Advertising Cost	Advertising Costs Advertising costs are expensed as incurred.
Revenue Recognition	Revenue Recognition ASC 606, Revenue from Contracts with Customers (“ASC 606”), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The majority of our revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other GAAP discussed elsewhere within our disclosures.
Stock-Based Compensation Plan	Stock-Based Compensation Plan OFG’s 2007 Omnibus Performance Incentive Plan, as amended and restated (the “Omnibus Plan”), provides for equity-based compensation incentives through the grant of stock options, stock appreciation rights, restricted stock, restricted units and dividend equivalents, as well as equity-based performance awards. The Omnibus Plan was adopted in 2007, amended and restated in 2008, and further amended in 2010, 2013 and 2023. The purpose of the Omnibus Plan is to provide flexibility to OFG to attract, retain and motivate directors, officers, and key employees through the grant of awards based on performance and to adjust its compensation practices to the best compensation practice and corporate governance trends as they develop from time to time. The Omnibus Plan is further intended to motivate high levels of individual performance coupled with increased shareholder returns. Therefore, awards under the Omnibus Plan (each, an “Award”) are intended to be based upon the recipient’s individual performance, corporate performance, level of responsibility and potential to make significant contributions to OFG. Generally, the Omnibus Plan will terminate as of (a) the date when no more of OFG’s shares of common stock are available for issuance under the Omnibus Plan or, (b) if earlier, the date the Omnibus Plan is terminated by OFG’s Board of Directors. The Board’s Compensation Committee (the “Committee”), or such other committee as the Board may designate, has full authority to interpret and administer the Omnibus Plan in order to carry out its provisions and purposes. The Committee has the authority to determine those persons eligible to receive an Award and to establish the terms and conditions of any Award. The Committee may delegate, subject to such terms or conditions or guidelines as it shall determine, to any employee or group of employees any portion of its authority and powers under the Omnibus Plan with respect to participants who are not directors or executive officers subject to the reporting requirements under Section 16(a) of the Exchange Act. Only the Committee may exercise authority in respect to Awards granted to such participants. The expected term of stock options granted represents the period of time that such options are expected to be outstanding. Expected volatilities are based on historical volatility of OFG’s shares of common stock over the most recent period equal to the expected term of the stock options. For stock options issued during 2015, the expected volatilities are based on both historical and implied volatility of OFG’s shares of common stock. OFG follows the fair value method of recording stock-based compensation. OFG used the modified prospective transition method, which requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award with the cost to be recognized over the service period. It applies to all awards unvested and granted after the effective date and awards modified, repurchased, or cancelled after that date.
Comprehensive Income	Comprehensive Income Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, except for those resulting from investments by owners and distributions to owners. GAAP requires that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities and on derivative activities that qualify and are designated for cash flows hedge accounting, net of taxes, are reported as a separate component of the stockholders’ equity section of the consolidated statements of financial condition, such items, along with net income, are components of comprehensive income.
Commitments and Contingencies	Commitments and Contingencies Liabilities for loss contingencies, arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.
Lease Accounting	Lease Accounting Right of use assets and lease liabilities are recognized at the commencement of an arrangement where it is determined at inception that a lease exists. Lease assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. These assets and liabilities are initially recognized based on the present value of lease payments over the lease term calculated using our incremental borrowing rate. Lease terms include options to extend or terminate the lease when it is reasonably certain that those options will be exercised. The right-of-use asset is measured at the amount of the lease liability adjusted for the remaining balance of any lease incentives received, any cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term, any unamortized initial direct costs, and any impairment of the right-of-use-asset. Operating lease expense consists of a single lease cost calculated so that the remaining cost of the lease is allocated over the remaining lease term on a straight-line basis, and any impairment of the right-of-use asset. Variable lease payments are generally expensed as incurred and include certain non-lease components, such as maintenance and other services provided by the lessor, and other charges included in the lease. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and the expense for these short-term leases and for operating leases is recognized on a straight-line basis over the lease term. OFG’s leases do not contain residual value guarantees or material variable lease payments. All leases are classified as operating leases.
Subsequent Events	Subsequent Events OFG has evaluated other events subsequent to the balance sheet date and prior to the filing of this annual report on Form 10-K for 2024, and has adjusted and disclosed those events that have occurred that would require adjustment or disclosure in the consolidated financial statements.
New Accounting Updates Not Yet Adopted and New Accounting Updates Adopted	New Accounting Updates Not Yet Adopted Disaggregation of Income Statement Expenses. In November 2024, the FASB issued ASU 2024-03, which requires disaggregated disclosure of income statement expenses for public business entities. The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. The amendments in this Update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. We will adopt this guidance when it becomes effective in the annual period of 2027 on a prospective basis. We are currently estimating the impact on our financial statements and disclosures. Codification Improvements—Amendments to Remove References to the Concepts Statements. In March 2024, the 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 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. We will adopt this guidance when it becomes effective in the first quarter of 2025 on a prospective basis. 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 address investor 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: (i) 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 (ii) 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. We expect to provide additional disaggregated income tax disclosures in accordance with this ASU. This ASU will not impact our Consolidated Statement of Operations, Consolidated Balance Sheet, Consolidated Statement of Cash Flows, Consolidated Statement of Comprehensive Income, or Consolidated Statement of Changes in Equity. New Accounting Updates Adopted in 2024 Segment Reporting—Improvements to Reportable Segment Disclosures. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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 allows 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. Our adoption of this standard for the annual period of 2024 did not have a material impact on our consolidated financial statements. Refer to Note 28 – Business Segments for disclosures.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2024 and 2023 were as follows: December 31, 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 $ 14,930 $ — $ 587 $ 14,343 2.07 % Due from 5 to 10 years 23,664 — 1,415 22,249 1.90 % Due after 10 years 1,943,193 5,545 72,449 1,876,289 4.51 % Total FNMA and FHLMC certificates 1,981,787 5,545 74,451 1,912,881 4.46 % GNMA certificates Due from 1 to 5 years 6,215 — 177 6,038 1.74 % Due from 5 to 10 years 11,358 10 641 10,727 2.25 % Due after 10 years 437,308 4,058 40,146 401,220 3.63 % Total GNMA certificates 454,881 4,068 40,964 417,985 3.57 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 5,015 — 126 4,889 1.78 % Due after 10 years 753 — 3 750 5.07 % Total CMOs issued by US government-sponsored agencies 5,768 — 129 5,639 2.21 % Total mortgage-backed securities 2,442,436 9,613 115,544 2,336,505 4.29 % Investment securities US Treasury securities Due less than 1 year 1,149 1 — 1,150 4.85 % Other debt securities Due from 1 to 5 years 550 — — 550 2.41 % Total investment securities 1,699 1 — 1,700 4.06 % Total securities available for sale $ 2,444,135 $ 9,614 $ 115,544 $ 2,338,205 4.29 % December 31, 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 $ 292,158 $ — $ 60,006 $ 232,152 1.73 % Investment securities Other debt securities Due less than 1 year 35,000 22 — 35,022 5.53 % Total securities held to maturity $ 327,158 $ 22 $ 60,006 $ 267,174 2.13 % 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	Year Ended December 31, 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 Year Ended December 31, 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 Year Ended December 31, 2022 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 $ 242,126 $ 242,373 $ — $ 247
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 December 31, 2024 and 2023, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: December 31, 2024 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 641,189 $ 61,462 $ 579,727 GNMA certificates 240,265 38,945 201,320 CMOs issued by US Government-sponsored agencies 5,768 129 5,639 $ 887,222 $ 100,536 $ 786,686 December 31, 2024 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 804,976 $ 12,989 $ 791,987 GNMA certificates 85,792 2,019 83,773 $ 890,768 $ 15,008 $ 875,760 December 31, 2024 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 1,446,165 $ 74,451 $ 1,371,714 GNMA certificates 326,057 40,964 285,093 CMOs issued by US Government-sponsored agencies 5,768 129 5,639 $ 1,777,990 $ 115,544 $ 1,662,446 The unrealized losses on OFG’s investment in federal agency mortgage-backed securities were caused by market volatility related to market uncertainty tied to interest rates. 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. 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

PLEDGED ASSETS (Tables)

PLEDGED ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Pledged Assets [Abstract]
Schedule of Pledged and not Pledged Assets	The following table shows a summary of pledged and not pledged assets at December 31, 2024 and 2023. Investment securities available for sale are presented at fair value, and investment securities held to maturity, residential mortgage loans, commercial loans, consumer loans and auto loans are presented at amortized cost: December 31, 2024 2023 (In thousands) Pledged investment securities to secure: Securities sold under agreements to repurchase $ 80,968 $ — Bank Term Funding Program 41,889 48,070 IBE Regulation 1,045 645 Bond for the Bank's trust operations 104 104 Puerto Rico public fund deposits 1,439,627 1,575,042 Total pledged investment securities 1,563,633 1,623,861 Pledged residential mortgage loans to secure: Advances from the FHLB 700,469 769,813 Pledged commercial loans to secure: Advances from the FHLB 394,597 236,665 Federal Reserve Bank Credit Facility 79,893 70,075 Puerto Rico public fund deposits 66,944 69,731 541,434 376,471 Pledged auto loans to secure: Federal Reserve Bank Credit Facility 2,069,693 1,169,711 Pledged consumer loans to secure: Federal Reserve Bank Credit Facility 551,131 — Total pledged assets $ 5,426,360 $ 3,939,856 Financial assets not pledged: Investment securities $ 1,101,730 $ 1,024,427 Residential mortgage loans 783,634 792,796 Commercial loans 2,566,102 2,728,777 Consumer loans 117,430 620,446 Auto loans 479,800 1,104,710 Total assets not pledged $ 5,048,696 $ 6,271,156

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Schedule of Loan Portfolio	The composition of the amortized cost basis of OFG’s loan portfolio at December 31, 2024 and 2023 was as follows: December 31, 2024 December 31, 2023 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial PR: Commercial secured by real estate $ 1,222,395 $ 77,196 $ 1,299,591 $ 1,095,207 $ 120,988 $ 1,216,195 Other commercial and industrial 1,087,886 11,533 1,099,419 1,091,021 14,459 1,105,480 2,310,281 88,729 2,399,010 2,186,228 135,447 2,321,675 Commercial US 704,081 — 704,081 755,228 — 755,228 Total commercial loans 3,014,362 88,729 3,103,091 2,941,456 135,447 3,076,903 Mortgage loans 628,853 841,964 1,470,817 629,247 933,362 1,562,609 Consumer loans: Personal loans 620,430 245 620,675 568,358 264 568,622 Credit lines 10,126 353 10,479 10,926 288 11,214 Credit cards 36,956 — 36,956 40,314 — 40,314 Overdraft 451 — 451 296 — 296 667,963 598 668,561 619,894 552 620,446 Auto loans 2,549,033 460 2,549,493 2,272,530 1,891 2,274,421 6,860,211 931,751 7,791,962 6,463,127 1,071,252 7,534,379 Allowance for credit losses (170,709) (5,154) (175,863) (152,610) (8,496) (161,106) Total loans held for investment, net 6,689,502 926,597 7,616,099 6,310,517 1,062,756 7,373,273 Mortgage loans held-for-sale 13,286 — 13,286 — — — Other loans held-for-sale 4,446 — 4,446 28,345 — 28,345 Total loans held-for-sale 17,732 — 17,732 28,345 — 28,345 Total loans, net $ 6,707,234 $ 926,597 $ 7,633,831 $ 6,338,862 $ 1,062,756 $ 7,401,618
Schedule of Aging of Recorded Investment in Gross Loans	December 31, 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 $ 879 $ 215 $ 9,780 $ 10,874 $ 1,211,521 $ 1,222,395 $ — Other commercial and industrial 597 629 3,588 4,814 1,083,072 1,087,886 — 1,476 844 13,368 15,688 2,294,593 2,310,281 — Commercial US — 4,505 — 4,505 699,576 704,081 — Total commercial loans 1,476 5,349 13,368 20,193 2,994,169 3,014,362 — Mortgage loans 5,362 6,069 59,995 71,426 557,427 628,853 2,047 Consumer loans: Personal loans 8,522 4,655 3,494 16,671 603,759 620,430 — Credit lines 53 38 125 216 9,910 10,126 — Credit cards 670 255 571 1,496 35,460 36,956 — Overdraft 88 — — 88 363 451 — 9,333 4,948 4,190 18,471 649,492 667,963 — Auto loans 119,805 50,208 20,055 190,068 2,358,965 2,549,033 — Total loans $ 135,976 $ 66,574 $ 97,608 $ 300,158 $ 6,560,053 $ 6,860,211 $ 2,047 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 December 31, 2024 and 2023: December 31, 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 $ 4,610 $ 6,248 $ 10,858 $ 3,553 $ 7,929 $ 11,482 Other commercial and industrial 1,855 1,996 3,851 4,560 830 5,390 6,465 8,244 14,709 8,113 8,759 16,872 Commercial US 21,317 2,887 24,204 19,224 — 19,224 Total commercial loans 27,782 11,131 38,913 27,337 8,759 36,096 Mortgage loans 8,770 3,153 11,923 10,339 3,858 14,197 Consumer loans: Personal loans 3,468 44 3,512 2,741 14 2,755 Credit lines 125 — 125 35 — 35 Credit cards 570 — 570 586 — 586 4,163 44 4,207 3,362 14 3,376 Auto loans 20,049 6 20,055 19,051 5 19,056 Total $ 60,764 $ 14,334 $ 75,098 $ 60,089 $ 12,636 $ 72,725 PCD: Commercial PR: Commercial secured by real estate $ — $ 1,946 $ 1,946 $ 3,060 $ 2,417 $ 5,477 Other commercial and industrial 695 — 695 — 947 947 Total commercial loans 695 1,946 2,641 3,060 3,364 6,424 Mortgage loans 239 — 239 250 — 250 Total $ 934 $ 1,946 $ 2,880 $ 3,310 $ 3,364 $ 6,674 Total non-accrual loans $ 61,698 $ 16,280 $ 77,978 $ 63,399 $ 16,000 $ 79,399
Schedule of Troubled Debt Restructurings	The following tables present the amortized cost basis as of December 31, 2024 and 2023 of loans held for investment that were modified during 2024 and 2023, disaggregated by class of financing receivable and type of concession granted. Year Ended December 31, 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 $ 9,257 1.31 % $ — — % $ 6,286 0.89 % $ — — % $ — — % Mortgage loans — — % 1,682 0.11 % — — % 88 0.01 % 105 0.01 % Consumer: Personal loans 26 — % 6 — % — — % — — % — — % Auto loans 162 0.01 % — — % — — % — — % — — % Total $ 9,445 $ 1,688 $ 6,286 $ 88 $ 105 Year Ended December 31, 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 $ — — % $ 6,332 0.52 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 689 0.06 % — — % — — % — — % — — % 7,021 0.23 % — — % — — % — — % Commercial US 6,649 0.88 % — — % — — % — — % 4,183 0.55 % Total commercial loans 6,649 0.88 % 7,021 0.23 % — — % — — % 4,183 0.55 % Mortgage loans — — % 5,777 0.37 % 97 0.01 % 710 0.05 % 440 0.03 % Consumer: Personal loans 37 0.01 % — — % — — % 80 0.01 % — — % Auto loans 48 — % 13 — % — — % 53 — % — — % Total $ 6,734 $ 12,811 $ 97 $ 843 $ 4,623 Year Ended December 31, 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 $ 623 Mortgage loans 0.38 % 149 11 Consumer loans: Personal loans 5.00 % 18 — Auto loans 2.82 % 0 — Year Ended December 31, 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 % 213 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 tables present the amortized cost basis as of December 31, 2024 and 2023, 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 December 31, 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 $ — $ 149 $ — $ — $ 149 Twelve-Months Ended December 31, 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 $ — $ 704 $ — $ — $ 704
Schedule of Financing Receivable, Modified, Past Due	The following table presents the payment status of loans that have been modified in the year ended December 31, 2024 and 2023 that were granted to borrowers experiencing financial difficulty. December 31, 2024 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial US $ — $ — $ — $ — $ 15,543 $ 15,543 Mortgage loans 118 37 149 304 1,571 1,875 Consumer loans: Personal loans — — — — 32 32 Auto loans — — — — 162 162 Total $ 118 $ 37 $ 149 $ 304 $ 17,308 $ 17,612 December 31, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial PR: Commercial loans secured by real estate $ — $ — $ — $ — $ 6,332 $ 6,332 Other commercial and industrial — — — — 689 689 — — — — 7,021 7,021 Commercial US — — — — 10,832 10,832 Total commercial loans — — — — 17,853 17,853 Mortgage loans 471 297 583 1,351 5,673 7,024 Consumer loans: Personal loans — — — — 117 117 Auto loans 30 — — 30 84 114 Total $ 501 $ 297 $ 583 $ 1,381 $ 23,727 $ 25,108
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 December 31, 2024 and 2023, by class of loans. December 31, 2024 2023 (In thousands) Commercial PR: Commercial loans secured by real estate $ 6,877 $ 8,027
Schedule of Credit Quality Indicators of Loans	As of December 31, 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 $ 219,185 $ 204,144 $ 229,955 $ 190,891 $ 106,562 $ 180,600 $ 46,448 $ 1,177,785 Special Mention — 13,702 7,205 6,192 909 3,721 73 31,802 Substandard — — 554 1,479 1,198 8,572 1,005 12,808 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial secured by real estate 219,185 217,846 237,714 198,562 108,669 192,893 47,526 1,222,395 Commercial secured by real estate: YTD gross charge-offs — 184 — — — 26 — 210 Other commercial and industrial: Loan grade: Pass 146,372 269,680 48,516 49,751 23,858 13,508 477,838 1,029,523 Special Mention — 373 3,281 45,012 — 136 4,920 53,722 Substandard 21 15 317 640 111 825 2,712 4,641 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 146,393 270,068 52,114 95,403 23,969 14,469 485,470 1,087,886 Other commercial and industrial: YTD gross charge-offs 117 143 298 3,573 — 238 — 4,369 Commercial US: Loan grade: Pass 56,534 120,064 21,648 57,736 20,138 21,884 273,971 571,975 Special Mention — — — — — — 39,896 39,896 Substandard 16,094 16,422 26,536 4,689 — 5,647 21,204 90,592 Doubtful 1,618 — — — — — — 1,618 Loss — — — — — — — — Total Commercial US: 74,246 136,486 48,184 62,425 20,138 27,531 335,071 704,081 Commercial US: YTD gross charge-offs — — 392 1,749 — 1,497 — 3,638 Total commercial loans $ 439,824 $ 624,400 $ 338,012 $ 356,390 $ 152,776 $ 234,893 $ 868,067 $ 3,014,362 Total YTD gross charge-offs $ 117 $ 327 $ 690 $ 5,322 $ — $ 1,761 $ — $ 8,217 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 The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment activity as of December 31, 2024: Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 41,100 $ 18,986 $ 23,207 $ 28,034 $ 20,203 $ 480,388 $ — $ 611,918 Nonperforming 148 636 107 466 102 15,476 — 16,935 Total mortgage loans: 41,248 19,622 23,314 28,500 20,305 495,864 — 628,853 Mortgage loans: YTD gross charge-offs — — — — — 126 — 126 Consumer loans: Personal loans: Payment performance: Performing 265,955 175,932 114,654 40,794 11,563 8,020 — 616,918 Nonperforming 438 1,292 1,266 353 51 112 — 3,512 Total personal loans 266,393 177,224 115,920 41,147 11,614 8,132 — 620,430 Personal loans: YTD gross charge-offs 1,425 10,788 11,973 3,443 700 1,088 — 29,417 Credit lines: Payment performance: Performing — — — — — — 10,001 10,001 Nonperforming — — — — — — 125 125 Total credit lines — — — — — — 10,126 10,126 Credit lines: YTD gross charge-offs — — — — — — 156 156 Credit cards: Payment performance: Performing — — — — — — 36,386 36,386 Nonperforming — — — — — — 570 570 Total credit cards — — — — — — 36,956 36,956 Credit cards: YTD gross charge-offs — — — — — — 2,781 2,781 Overdrafts: Payment performance: Performing — — — — — — 451 451 Nonperforming — — — — — — — — Total overdrafts — — — — — — 451 451 Overdrafts: YTD gross charge-offs — — — — — — 912 912 Total consumer loans 266,393 177,224 115,920 41,147 11,614 8,132 47,533 667,963 Total consumer loans YTD gross charge-offs 1,425 10,788 11,973 3,443 700 1,088 3,849 33,266 Total mortgage and consumer loans $ 307,641 $ 196,846 $ 139,234 $ 69,647 $ 31,919 $ 503,996 $ 47,533 $ 1,296,816 Total mortgage and consumer loans YTD gross charge-offs $ 1,425 $ 10,788 $ 11,973 $ 3,443 $ 700 $ 1,214 $ 3,849 $ 33,392 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 271,386 188,200 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 $ 157,865 $ 191,510 $ 163,990 $ 93,675 $ 41,016 $ 38,369 $ 686,425 661-699 172,579 116,145 69,573 36,607 15,583 13,720 424,207 700+ 521,507 397,649 243,449 130,613 66,571 54,947 1,414,736 No FICO 5,266 6,630 5,616 3,255 1,265 1,633 23,665 Total auto loans $ 857,217 $ 711,934 $ 482,628 $ 264,150 $ 124,435 $ 108,669 $ 2,549,033 Auto loans: YTD gross charge-offs $ 4,068 $ 21,603 $ 18,912 $ 8,552 $ 3,799 $ 4,717 $ 61,651 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)	12 Months Ended
	Dec. 31, 2024
Credit Loss [Abstract]
Schedule of Gross Loan and Allowance for Credit Losses	The following tables present the activity in OFG’s ACL by segment for 2024, 2023 and 2022: Year Ended December 31, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of year $ 44,041 $ 7,998 $ 27,086 $ 73,485 $ 152,610 Provision for (recapture of) credit losses 6,922 (2,546) 33,832 49,514 87,722 Charge-offs (8,217) (126) (33,266) (61,651) (103,260) Recoveries 2,068 1,069 4,166 26,334 33,637 Balance at end of year $ 44,814 $ 6,395 $ 31,818 $ 87,682 $ 170,709 PCD: Balance at beginning of year $ 1,113 $ 7,351 $ 7 $ 25 $ 8,496 Recapture of provision for credit losses (935) (3,985) (58) (197) (5,175) Charge-offs (967) (178) — (25) (1,170) Recoveries 1,411 1,326 62 204 3,003 Balance at end of year $ 622 $ 4,514 $ 11 $ 7 $ 5,154 Total allowance for credit losses at end of year $ 45,436 $ 10,909 $ 31,829 $ 87,689 $ 175,863 Year Ended December 31, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of year $ 39,158 $ 9,571 $ 23,264 $ 69,848 $ 141,841 Provision for (recapture of) credit losses 18,200 (2,031) 23,302 22,294 61,765 Charge-offs (14,191) (759) (23,655) (43,764) (82,369) Recoveries 874 1,217 4,175 25,107 31,373 Balance at end of year $ 44,041 $ 7,998 $ 27,086 $ 73,485 $ 152,610 PCD: Balance at beginning of year $ 1,388 $ 9,359 $ 14 $ 71 $ 10,832 Provision for (recapture of) credit losses 901 (2,389) 518 (518) (1,488) Charge-offs (2,794) (317) (621) (170) (3,902) Recoveries 1,618 698 96 642 3,054 Balance at end of year $ 1,113 $ 7,351 $ 7 $ 25 $ 8,496 Total allowance for credit losses at end of year $ 45,154 $ 15,349 $ 27,093 $ 73,510 $ 161,106 Year Ended December 31, 2022 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of year $ 32,262 $ 15,299 $ 19,141 $ 65,363 $ 132,065 Provision for (recapture of) credit losses 19,076 (8,758) 16,084 16,016 42,418 Charge-offs (13,380) (284) (15,198) (32,662) (61,524) Recoveries 1,200 3,314 3,237 21,131 28,882 Balance at end of year $ 39,158 $ 9,571 $ 23,264 $ 69,848 $ 141,841 PCD: Balance at beginning of year $ 4,508 $ 19,018 $ 34 $ 312 $ 23,872 (Recapture of) provision for credit losses (6,855) (10,629) 62 (588) (18,010) Charge-offs (69) (1,695) (176) (310) (2,250) Recoveries 3,804 2,665 94 657 7,220 Balance at end of year $ 1,388 $ 9,359 $ 14 $ 71 $ 10,832 Total allowance for credit losses at end of year $ 40,546 $ 18,930 $ 23,278 $ 69,919 $ 152,673

FORECLOSED REAL ESTATE (Tables)

FORECLOSED REAL ESTATE (Tables)	12 Months Ended
	Dec. 31, 2024
Other Real Estate [Abstract]
Schedule of Foreclosed Real Estate Rollforward	The following table presents the activity related to foreclosed real estate for 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (In thousands) Balance at beginning of year $ 10,780 $ 11,214 $ 15,039 Additions 3,497 10,216 7,872 Sales (11,894) (13,880) (16,855) Decline in value (720) (1,152) (1,256) Other adjustments 2,339 4,383 6,414 Balance at end of year $ 4,002 $ 10,780 $ 11,214

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Premises and equipment at December 31, 2024 and 2023 are stated at cost less accumulated depreciation and amortization as follows: Useful Life December 31, 2024 2023 (In thousands) Land — $ 4,031 $ 4,031 Buildings and improvements 20 — 40 77,267 76,542 Leasehold improvements 1 — 10 23,176 19,145 Furniture and fixtures 3 — 10 23,591 21,377 Information technology and other 3 — 7 69,787 58,898 197,852 179,993 Less: accumulated depreciation and amortization (93,340) (75,891) $ 104,512 $ 104,102

SERVICING ASSETS (Tables)

SERVICING ASSETS (Tables)	12 Months Ended
	Dec. 31, 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 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (In thousands) Fair value at beginning of year $ 49,520 $ 50,921 $ 48,973 Acquired servicing rights 21,427 — — Servicing from mortgage securitization or asset transfers 1,737 2,560 3,998 Changes due to payments on loans (3,979) (4,163) (5,312) Changes in fair value due to changes in valuation model inputs or assumptions 1,730 202 3,262 Fair value at end of year $ 70,435 $ 49,520 $ 50,921
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 December 31, 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Constant prepayment rate 1.09% - 15.28% 1.35% - 17.34% 3.43% - 21.20% Discount rate 10.00% - 15.50% 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: December 31, 2024 2023 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 70,435 49,520 Weighted average life (in years) 7.9 7.3 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (1,276) $ (928) Decrease in fair value due to 20% adverse change $ (2,505) $ (1,821) Discount rate Decrease in fair value due to 10% adverse change $ (3,103) $ (1,999) Decrease in fair value due to 20% adverse change $ (5,966) $ (3,856)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill by reportable business segment is included in the table below. Refer to Note 28 – Business Segments for additional information on OFG’s reportable business segments. Banking Wealth Management Treasury Total (In thousands) December 31, 2024 $ 84,063 $ 178 $ — $ 84,241 December 31, 2023 $ 84,063 $ 178 $ — $ 84,241 December 31, 2022 $ 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 December 31, 2024 and 2023: Gross Accumulated Net (In thousands) December 31, 2024 Core deposit intangibles $ 41,507 $ 30,187 $ 11,320 Customer relationship intangibles 12,693 9,231 3,462 Total other intangible assets $ 54,200 $ 39,418 $ 14,782 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) 2025 4,928 2026 3,942 2027 2,956 2028 1,971 2029 985

ACCRUED INTEREST RECEIVABLE A_2

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Accrued Interest Receivable and Other Assets [Abstract]
Schedule of Accrued Interest Receivable	Accrued interest receivable at December 31, 2024 and 2023 consists of the following: December 31, 2024 2023 (In thousands) Loans $ 60,864 $ 63,526 Investments 10,803 7,874 $ 71,667 $ 71,400
Schedule of Other Assets	Other assets at December 31, 2024 and 2023 consist of the following: December 31, 2024 2023 (In thousands) Prepaid expenses $ 72,093 $ 63,040 Other repossessed assets 6,595 4,032 Accounts receivable and other assets 70,191 47,859 $ 148,879 $ 114,931

DEPOSITS AND RELATED INTEREST (

DEPOSITS AND RELATED INTEREST (Tables)	12 Months Ended
	Dec. 31, 2024
Deposits and Related Interest [Abstract]
Schedule of Deposits by Component	Total deposits, including related accrued interest payable, as of December 31, 2024 and 2023 consist of the following: December 31, 2024 2023 (In thousands) Non-interest-bearing demand deposits $ 2,493,860 $ 2,537,431 Interest-bearing savings and demand deposits 5,198,462 5,601,099 Retail certificates of deposit 1,170,560 1,083,316 Institutional certificates of deposit 585,829 378,143 Total core deposits 9,448,711 9,599,989 Brokered deposits 156,075 162,180 Total deposits $ 9,604,786 $ 9,762,169
Schedule of Interest Expense	Interest expense for 2024, 2023 and 2022 was as follows: Year Ended December 31, 2024 2023 2022 (In thousands) Demand and savings deposits $ 101,733 $ 48,722 $ 24,261 Certificates of deposit 48,547 27,243 7,978 $ 150,280 $ 75,965 $ 32,239
Schedule of Time Deposit Maturities	Excluding accrued interest of approximately $3.1 million and $3.0 million, the scheduled maturities of certificates of deposit at December 31, 2024 and 2023 are as follows: December 31, 2024 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 645,919 $ 336,912 Over 3 months through 6 months 293,693 99,596 Over 6 months through 1 year 492,799 201,877 1,432,411 638,385 Over 1 through 2 years 340,176 95,690 Over 2 through 3 years 63,044 9,017 Over 3 through 4 years 39,462 4,176 Over 4 through 5 years 33,549 4,084 Over 5 years 722 115 $ 1,909,364 $ 751,467 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)	12 Months Ended
	Dec. 31, 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 $952 thousand and $768 thousand at December 31, 2024 and 2023, respectively: December 31, 2024 2023 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.56% $ 270,000 $ — 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 $ 325,000 $ 200,000 Advances from FHLB mature as follows: December 31, 2024 2023 (In thousands) Over 90 days to one year $ 270,000 $ — Over one to three years 55,000 200,000 $ 325,000 $ 200,000
Schedule of Repurchase Agreements	The following table shows OFG’s repurchase agreements, excluding accrued interest in the amount of $222 thousand at December 31, 2024: December 31, 2024 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.63% $ 75,000 Repurchase agreements’ maturities were as follows: December 31, 2024 (In thousands) Under 90 days $ 75,000 Repurchase agreements referred to above with maturity dates up to the date of this report were renewed as short-term repurchase agreements. The following securities were sold under agreements to repurchase: December 31, 2024 Underlying Securities Amortized Cost of Underlying Securities Balance of Borrowing Approximate Fair Value of Underlying Securities Weighted Average Interest Rate of Security (In thousands) FNMA and FHLMC Certificates $ 81,409 $ 75,000 $ 80,968 5.25 % There were no repurchase agreements at December 31, 2023.

OFFSETTING OF FINANCIAL ASSET_2

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Offsetting [Abstract]
Summary of Offsetting Liabilities	The following table presents the potential effect of rights of set-off associated with OFG’s recognized financial assets and liabilities at December 31, 2024: December 31, 2024 Gross Amounts Not Offset in the Statement of Gross Amount Gross Amounts Net Amount of Financial Cash Net (In thousands) Securities sold under agreements to repurchase 75,000 — 75,000 80,968 — (5,968)

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Activity for Related Party Transactions	The activity and balance of these loans for 2024, 2023, and 2022 was as follows: Year Ended December 31, 2024 2023 2022 (In thousands) Balance at the beginning of year $ 27,483 $ 32,792 $ 25,915 New loans and disbursements 1 507 9,706 Repayments (507) (5,816) (2,829) Credits of persons no longer considered related parties (26,639) — — Balance at the end of year $ 338 $ 27,483 $ 32,792

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense for 2024, 2023, and 2022 were as follows: Year Ended December 31, 2024 2023 2022 (In thousands) Current income tax expense $ 34,017 $ 16,027 $ 16,740 Deferred income tax expense 21,561 67,349 61,126 Total income tax expense $ 55,578 $ 83,376 $ 77,866
Schedule of Effective Income Tax Rate Reconciliation	OFG’s income tax expense differs from amounts computed by applying the applicable statutory rate to income before income taxes as follows: Year Ended December 31, 2024 2023 2022 Amount Rate Amount Rate Amount Rate (Dollars in thousands) Income tax expense at statutory rates $ 95,156 37.50 % $ 99,468 37.50 % $ 91,539 37.50 % Tax of exempt income, net (14,485) (5.71) % (12,201) (4.60) % (11,523) (4.72) % Disallowed expense and net operating loss carryover 234 0.09 % (350) (0.13) % (267) (0.11) % Change in valuation allowance (2,168) (0.85) % (1,554) (0.59) % (502) (0.21) % Unrecognized tax benefits, net 69 0.03 % 69 0.03 % 69 0.03 % Capital gain (loss) at preferential rate 5 — % 472 0.18 % (787) (0.32) % Tax rate difference (ordinary vs capital) 23 0.01 % (817) (0.31) % (247) (0.10) % Preferential tax treatment on qualified investment activities (16,021) (6.31) % — — % — — % Return to provision adjustments (2,083) (0.82) % (721) (0.27) % (407) (0.17) % Stock-based compensation windfall (1,232) (0.49) % — — % — — % Difference in tax rates due to multiple jurisdictions (1,929) (0.76) % (963) (0.36) % — — % Tax credits (1,667) (0.66) % — — % — — % Other items, net (324) (0.13) % (27) (0.02) % (9) — % Income tax expense $ 55,578 21.90 % $ 83,376 31.43 % $ 77,866 31.90 %
Schedule of Unrecognized Tax Benefits Roll Forward	The following table presents a reconciliation of unrecognized tax benefits: Year Ended December 31, 2024 2023 2022 (In thousands) Balance at beginning of year $ 936 $ 867 $ 798 Additions for tax positions of prior years 69 69 69 Balance at end of year $ 1,005 $ 936 $ 867
Schedule of Deferred Tax Assets and Liabilities	Significant components of OFG’s deferred tax assets and liabilities as of December 31, 2024, and 2023 were as follows: December 31, 2024 2023 (In thousands) Deferred tax assets: Allowance for credit losses and other reserves $ 62,913 $ 58,612 Scotiabank PR discount — 463 Loans and other real estate valuation adjustment 1,211 1,905 Deferred loan charge-offs 4,523 16,147 Net operating loss carry forwards 4,878 6,548 Alternative minimum tax 13,822 13,553 Unrealized net loss on available-for-sale securities 16,125 11,525 Goodwill — 3,542 Acquired portfolio 29,620 37,374 Other assets allowances 2,022 1,692 Other deferred tax assets 21,470 16,344 Total gross deferred tax asset 156,584 167,705 Less: valuation allowance (5,421) (7,589) Net gross deferred tax assets 151,163 160,116 Deferred tax liabilities: Acquired loans tax basis (137,022) (137,143) Servicing asset (23,359) (15,516) Building valuation adjustment (5,668) (6,104) FDIC-assisted Eurobank acquisition, net (5,062) (5,481) Customer deposit and customer relationship intangibles (2,981) (4,943) Goodwill (3,167) — Scotiabank PR discount (980) — Other deferred tax liabilities (7,394) (8,450) Total gross deferred tax liabilities (185,633) (177,637) Net deferred tax liability $ (34,470) $ (17,521)

REGULATORY CAPITAL REQUIREMEN_2

REGULATORY CAPITAL REQUIREMENTS (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2024 and 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 December 31, 2024 Total capital to risk-weighted assets $ 1,367,692 15.52 % $ 925,305 10.50 % $ 881,242 10.00 % Tier 1 capital to risk-weighted assets $ 1,256,906 14.26 % $ 749,056 8.50 % $ 704,994 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,256,906 14.26 % $ 616,870 7.00 % $ 572,807 6.50 % Tier 1 capital to average total assets $ 1,256,906 10.93 % $ 460,138 4.00 % $ 575,172 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 December 31, 2024 Total capital to risk-weighted assets $ 1,301,684 14.86 % $ 919,781 10.50 % $ 875,982 10.00 % Tier 1 capital to risk-weighted assets $ 1,191,547 13.60 % $ 744,585 8.50 % $ 700,786 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,191,547 13.60 % $ 613,187 7.00 % $ 569,388 6.50 % Tier 1 capital to average total assets $ 1,191,547 10.45 % $ 456,144 4.00 % $ 570,179 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 %

STOCK-BASED COMPENSATION PLAN (

STOCK-BASED COMPENSATION PLAN (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Range of Exercise Prices and Weighted Average Remaining Contractual Life	The activity in outstanding options for 2024, 2023, and 2022 is set forth below: Year Ended December 31, 2024 2023 2022 Number Weighted Number Weighted Number Weighted Beginning of year 16,600 $ 16.92 234,950 $ 16.38 338,494 $ 15.76 Options exercised (15,200) 16.88 (218,350) 16.34 (103,544) 14.34 End of year 1,400 $ 17.44 16,600 $ 16.92 234,950 $ 16.38 The following table summarizes the range of exercise prices and the weighted average remaining contractual life of the options outstanding at December 31, 2024: Outstanding Exercisable Range of Exercise Prices Number of Weighted Weighted Number of Weighted 16.91 to 19.71 1,400 17.44 0.2 1,400 17.44 Aggregate Intrinsic Value $ 34,832 $ 34,832
Schedule of Restricted Stock Unit Activity under the Omnibus Plan	The following table summarizes the activity in restricted units under the Omnibus Plan for 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 Restricted Weighted Restricted Weighted Restricted Weighted Beginning of year 410,997 $ 25.43 408,832 $ 22.27 511,740 $ 19.35 Restricted units granted 290,193 35.57 204,048 27.84 178,281 27.89 Restricted units lapsed (268,406) 25.31 (181,692) 20.85 (277,866) 17.08 Restricted units forfeited (54,494) 30.17 (20,191) 25.18 (3,323) 22.89 End of year 378,290 $ 32.61 410,997 $ 25.43 408,832 $ 22.27

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	12 Months Ended
	Dec. 31, 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 2024, 2023 and 2022 is set forth below: Year Ended December 31, 2024 2023 2022 Shares Dollar Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of year 12,820,078 $ 228,350 12,303,859 $ 211,135 10,248,882 $ 150,572 Common shares used upon lapse of restricted stock units and options (166,527) (1,683) (227,480) (1,438) (296,891) (3,547) Common shares repurchased as part of the stock repurchase programs 1,791,414 70,324 743,699 18,653 2,351,868 64,110 End of year 14,444,965 $ 296,991 12,820,078 $ 228,350 12,303,859 $ 211,135

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive loss, net of income taxes, as of December 31, 2024 and 2023 consisted of: December 31, 2024 2023 (In thousands) Unrealized loss on securities available-for-sale $ (105,930) $ (78,497) Income tax effect of unrealized loss on securities available-for-sale 16,091 11,484 Net unrealized loss on securities available-for-sale (89,839) (67,013) Accumulated other comprehensive loss, net of income taxes $ (89,839) $ (67,013) The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for 2024, 2023 and 2022: Year Ended December 31, 2024 Net unrealized loss on securities available-for-sale (In thousands) Beginning balance $ (67,013) Other comprehensive loss (22,826) Ending balance $ (89,839) Year Ended December 31, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (93,663) $ 254 $ (93,409) Other comprehensive income (loss) before reclassifications 27,792 (5,647) 22,145 Amounts reclassified out of accumulated other comprehensive loss (1,142) 5,393 4,251 Other comprehensive income (loss) 26,650 (254) 26,396 Ending balance $ (67,013) $ — $ (67,013) Year Ended December 31, 2022 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 5,663 $ (503) $ 5,160 Other comprehensive (loss) income before reclassifications (99,087) 24 (99,063) Amounts reclassified out of accumulated other comprehensive loss (239) 733 494 Other comprehensive (loss) income (99,326) 757 (98,569) Ending balance $ (93,663) $ 254 $ (93,409)
Schedule of Reclassifications Out of Other Comprehensive Income	The following table presents reclassifications out of accumulated other comprehensive loss for 2024, 2023 and 2022: Amount reclassified out of accumulated other comprehensive loss Year Ended December 31, Affected Line Item in 2024 2023 2022 (In thousands) Cash flow hedges: Interest-rate contracts $ — $ 5,393 $ 733 Net interest expense Available-for-sale securities: Loss on sale of investments (7) (1,149) (247) Net loss on sale of securities Tax effect from changes in tax rates 7 7 8 Income tax expense $ — $ 4,251 $ 494

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Share	The calculation of earnings per common share for 2024, 2023 and 2022 is as follows: Year Ended December 31, 2024 2023 2022 (In thousands, except per share data) Income available to common shareholders $ 198,170 $ 181,872 $ 166,239 Average common shares outstanding 46,637 47,258 48,033 Effect of dilutive securities: Average potential common shares-options 265 294 403 Total weighted average common shares outstanding and equivalents $ 46,902 $ 47,552 $ 48,436 Earnings per common share - basic $ 4.25 $ 3.85 $ 3.46 Earnings per common share - diluted $ 4.23 $ 3.83 $ 3.44

GUARANTEES (Tables)

GUARANTEES (Tables)	12 Months Ended
	Dec. 31, 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 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (In thousands) Balance at beginning of year $ 102 $ 147 $ 294 Net recoveries (charge-offs/terminations) 53 (45) (147) Balance at end of year $ 155 $ 102 $ 147

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Credit-Related Financial Instruments	Credit-related financial instruments at December 31, 2024 and 2023 were as follows: December 31, 2024 2023 (In thousands) Commitments to extend credit $ 1,360,351 $ 1,255,695 Commercial letters of credit 1,096 119 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 December 31, 2024 and 2023, is as follows: December 31, 2024 2023 (In thousands) Standby letters of credit and financial guarantees $ 25,321 $ 23,970 Loans sold with recourse 90,464 98,685

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Lessee Disclosure [Abstract]
Schedule of Operating Lease Cost	Year Ended December 31, 2024 2023 2022 Statement of Operations (In thousands) Lease costs $ 9,474 $ 10,414 $ 10,467 Occupancy and equipment Variable lease costs 1,697 1,452 1,529 Occupancy and equipment Short-term lease costs 384 529 565 Occupancy and equipment Lease income (77) (123) (226) Occupancy and equipment Total lease costs $ 11,478 $ 12,272 $ 12,335
Schedule of Operating Lease Assets and Liabilities	December 31, 2024 2023 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 19,197 $ 21,725 Operating lease right-of-use assets Lease Liabilities $ 21,388 $ 24,029 Operating leases liabilities
Schedule of Operating Lease, Other Information	December 31, 2024 2023 (In thousands) Weighted-average remaining lease term 4.8 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 December 31, 2024 were as follows: Minimum Rent As of December 31, 2024 (In thousands) 2025 $ 7,434 2026 5,265 2027 4,331 2028 3,239 2029 1,848 Thereafter 3,535 Total lease payments $ 25,652 Less imputed interest 4,264 Present value of lease liabilities $ 21,388

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 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: December 31, 2024 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 1,150 $ 2,337,055 $ — $ 2,338,205 Trading securities — 18 — 18 Money market investments 6,670 — — 6,670 Servicing assets — — 70,435 70,435 $ 7,820 $ 2,337,073 $ 70,435 $ 2,415,328 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 6,877 $ 6,877 Foreclosed real estate — — 4,002 4,002 Other repossessed assets — — 6,595 6,595 Mortgage loans held for sale — — 13,286 13,286 Other loans held for sale — — 4,446 4,446 $ — $ — $ 35,206 $ 35,206 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 2024, 2023 and 2022: Level 3 Instruments Only Year Ended December 31, 2024 2023 2022 Servicing Assets Other debt securities available for sale Servicing Assets Total Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning of year $ 49,520 $ 406 $ 50,921 $ 51,327 1,530 $ 48,973 $ 50,503 New instruments acquired 23,164 — 2,560 2,560 376 3,998 4,374 Principal repayments and amortization (3,979) — (4,163) (4,163) — (5,312) (5,312) Instrument converted to equity security — (406) — (406) (1,581) — (1,581) Gains included in earnings 1,730 — 202 202 — 3,262 3,262 Gains included in other comprehensive income — — — — 81 — 81 Balance at end of year $ 70,435 $ — $ 49,520 $ 49,520 $ 406 $ 50,921 $ 51,327
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 December 31, 2024 and 2023: December 31, 2024 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 70,435 Cash flow valuation Constant prepayment rate 1.09% - 15.28% 5.83 % Discount rate 10.00% - 15.50% 11.61 % Collateral dependent loans $ 6,877 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 18.14 % Foreclosed real estate $ 4,002 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 13.16 % Other repossessed assets $ 6,595 Fair value of property Estimated net realizable value less disposition costs 37.00% - 69.00% 54.73 % Mortgage loans held for sale $ 13,286 Market prices Pricing and execution whole loan 89.38% - 101.38% 95.01 % Other loans held for sale $ 4,446 Bids or sales contract prices Estimated market value 101.21% - 101.21% 101.21 % 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 December 31, 2024 and 2023 was as follows: December 31, 2024 December 31, 2023 Fair Carrying Fair Carrying (In thousands) Financial Assets: Level 1 Cash and cash equivalents $ 591,137 $ 591,137 $ 748,173 $ 748,173 Investment securities available-for-sale $ 1,150 $ 1,150 $ 296,799 $ 296,799 Level 2 Financial Assets: Trading securities $ 18 $ 18 $ 13 $ 13 Investment securities available-for-sale $ 2,337,055 $ 2,337,055 $ 1,802,465 $ 1,802,465 Investment securities held-to-maturity $ 232,152 $ 292,158 $ 455,709 $ 514,024 Federal Home Loan Bank (FHLB) stock $ 24,280 $ 24,280 $ 14,488 $ 14,488 Equity securities $ 30,616 $ 30,616 $ 23,981 $ 23,981 Level 3 Financial Assets: Investment securities held-to-maturity $ 35,022 $ 35,000 $ 35,055 $ 35,000 Total loans, net (including loans held-for-sale) $ 7,567,075 $ 7,633,831 $ 7,282,214 $ 7,401,618 Accrued interest receivable $ 71,667 $ 71,667 $ 71,400 $ 71,400 Servicing assets $ 70,435 $ 70,435 $ 49,520 $ 49,520 Accounts receivable and other assets $ 70,191 $ 70,191 $ 47,859 $ 47,589 Financial Liabilities: Deposits $ 9,625,803 $ 9,604,786 $ 9,767,068 $ 9,762,169 Securities sold under agreements to repurchase $ 75,226 $ 75,222 $ — $ — Advances from FHLB $ 324,510 $ 325,952 $ 199,184 $ 200,768 Other borrowings $ — $ — $ 2 $ 2 Accrued expenses and other liabilities $ 146,771 $ 146,771 $ 115,985 $ 115,985

BANKING AND FINANCIAL SERVICE_2

BANKING AND FINANCIAL SERVICE REVENUES (Tables)	12 Months Ended
	Dec. 31, 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 2024, 2023 and 2022: Year Ended December 31, 2024 2023 2022 (In thousands) Banking service revenues: Electronic banking fees $ 52,275 $ 54,109 $ 54,639 Checking accounts fees 8,102 8,924 8,933 Savings accounts fees 1,233 1,334 1,265 Credit life commissions 134 318 724 Branch service commissions 1,323 1,538 1,456 Servicing and other loan fees 3,090 3,120 3,222 International fees 748 720 902 Miscellaneous income 18 15 20 Total banking service revenues $ 66,923 $ 70,078 71,161 Wealth management revenue: Insurance income $ 17,991 $ 17,178 15,084 Broker fees 8,781 7,375 6,793 Trust fees 8,850 8,402 10,013 Other fees — 35 745 Total wealth management revenue $ 35,622 $ 32,990 32,635 Mortgage banking activities: Net servicing fees $ 17,291 $ 15,077 18,258 Net gains on sale of mortgage loans and valuation 2,026 2,993 3,786 Net (loss) gain on repurchased loans and other (681) 717 (115) Total mortgage banking activities $ 18,636 $ 18,787 21,929 Total banking and financial service revenues $ 121,181 $ 121,855 $ 125,725

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Following are the results of operations and the selected financial information by operating segment for 2024, 2023 and 2022: Year Ended December 31, 2024 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 619,328 $ 26 $ 134,970 $ 754,324 $ (4,047) $ 750,277 Interest expense (147,661) — (18,223) (165,884) 4,047 (161,837) Net interest income 471,667 26 116,747 588,440 — 588,440 (Provision for) recapture of credit losses (82,436) — 185 (82,251) — (82,251) Non-interest income, net 86,720 36,522 7 123,249 — 123,249 Non-interest expenses [1] Compensation and employee benefits (149,194) (9,527) (989) (159,710) — (159,710) Occupancy, equipment and infrastructure costs (37,407) (721) (121) (38,249) — (38,249) Depreciation and amortization of premises and equipment (20,807) (48) (19) (20,874) — (20,874) Electronic banking charges (42,816) — — (42,816) — (42,816) Information technology expenses (27,394) (187) (1) (27,582) — (27,582) Professional and service fees (15,804) (2,875) (197) (18,876) — (18,876) Loan servicing and clearing expenses (5,937) (1,455) (543) (7,935) — (7,935) Amortization of other intangible assets (1,385) — — (1,385) — (1,385) Intersegment expenses 3,518 (2,121) (1,397) — — — Other [2] (56,173) (1,720) (370) (58,263) — (58,263) Total non-interest expense (353,399) (18,654) (3,637) (375,690) — (375,690) Income before income taxes $ 122,552 $ 17,894 $ 113,302 $ 253,748 $ — $ 253,748 Income tax expense (55,402) (10) (166) (55,578) — (55,578) Net income $ 67,150 $ 17,884 $ 113,136 $ 198,170 $ — $ 198,170 Total assets $ 9,513,074 $ 34,219 $ 3,192,845 $ 12,740,138 $ (1,239,404) $ 11,500,734 Expenditures for long-lived assets $ 21,336 — $ — $ — $ 21,336 $ — $ 21,336 [1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. [2] Other non-interest expenses include: Banking: Taxes, other than payroll and income taxes; insurance; advertising; communication; printing, postage, stationary and supplies; travels, meals and training; credit related expenses; director and investor relations; loss on sale of foreclosed real estate and other repossessed properties; losses and operational errors, among other business expenses. Wealth Management: Reinsurance incurred net losses; taxes, other than payroll and income taxes; advertising; insurance; data communication and systems, among other business expenses. Treasury: Data communication and systems; taxes, other than payroll and income taxes; insurance, among other business expenses. Eliminations include interest income and expense for a time deposit opened by the Bank in Oriental Overseas, the IBE unit, which operates within the Bank. The time deposit with a balance of $278.4 million and $300.3 million at December 31, 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. Year Ended December 31, 2023 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 567,809 $ 28 $ 95,477 $ 663,314 $ (14,434) $ 648,880 Interest expense (73,480) — (28,964) (102,444) 14,434 (88,010) Net interest income 494,329 28 66,513 560,870 — 560,870 Provision for credit losses (60,255) — (383) (60,638) — (60,638) Non-interest income, net 97,099 32,433 (1,151) 128,381 — 128,381 Non-interest expenses [1] Compensation and employee benefits (147,241) (7,627) (959) (155,827) — (155,827) Occupancy, equipment and infrastructure costs (38,251) (484) (112) (38,847) — (38,847) Depreciation and amortization of premises and equipment (20,315) (50) (23) (20,388) — (20,388) Electronic banking charges (41,336) — — (41,336) — (41,336) Information technology expenses (26,946) (204) (12) (27,162) — (27,162) Professional and service fees (15,878) (2,646) (240) (18,764) — (18,764) Loan servicing and clearing expenses (5,806) (1,417) (551) (7,774) — (7,774) Amortization of other intangible assets (1,615) — — (1,615) — (1,615) Intersegment expenses 1,641 (1,011) (630) — — — Other [2] (47,100) (2,999) (1,553) (51,652) — (51,652) Total non-interest expense (342,847) (16,438) (4,080) (363,365) — (363,365) Income before income taxes $ 188,326 $ 16,023 $ 60,899 $ 265,248 $ — $ 265,248 Income tax expense (83,242) (34) (100) (83,376) — (83,376) Net income $ 105,084 $ 15,989 $ 60,799 $ 181,872 $ — $ 181,872 Total assets $ 9,154,201 $ 38,261 $ 3,304,204 $ 12,496,666 $ (1,152,213) $ 11,344,453 Expenditures for long-lived assets $ 17,853 $ 2 $ 2 $ 17,857 $ — $ 17,857 [1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. [2] Other non-interest expenses include: Banking: Taxes, other than payroll and income taxes; insurance; advertising; communication; printing, postage, stationary and supplies; travels, meals and training; credit related expenses; director and investor relations; loss on sale of foreclosed real estate and other repossessed properties; losses and operational errors, among other business expenses. Wealth Management: Reinsurance incurred net losses; taxes, other than payroll and income taxes; advertising; insurance; data communication and systems, among other business expenses. Treasury: Data communication and systems; taxes, other than payroll and income taxes; insurance, among other business expenses. Year Ended December 31, 2022 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 465,177 $ 21 $ 56,955 $ 522,153 $ (6,850) $ 515,573 Interest expense (31,926) — (8,147) (40,073) 6,850 (33,493) Net interest income 433,251 21 48,808 482,080 — 482,080 Provision for credit losses (24,111) — (8) (24,119) — (24,119) Non-interest income, net 98,407 33,481 (198) 131,690 — 131,690 Non-interest expenses [1] Compensation and employee benefits (132,840) (9,174) (916) (142,930) — (142,930) Occupancy, equipment and infrastructure costs (34,369) (1,033) (95) (35,497) — (35,497) Depreciation and amortization of premises and equipment (15,724) (58) (29) (15,811) — (15,811) Electronic banking charges (39,554) — — (39,554) — (39,554) Information technology expenses (21,669) (222) — (21,891) — (21,891) Professional and service fees (21,818) (2,774) (250) (24,842) — (24,842) Loan servicing and clearing expenses (7,203) (1,396) (562) (9,161) — (9,161) Amortization of other intangible assets (2,001) — — (2,001) — (2,001) Intersegment expenses 2,187 (1,497) (690) — — — Other [2] (47,947) (4,549) (1,363) (53,859) — (53,859) Total non-interest expense (320,938) (20,703) (3,905) (345,546) — (345,546) Income before income taxes $ 186,609 $ 12,799 $ 44,697 $ 244,105 $ — $ 244,105 Income tax expense (77,731) (97) (38) (77,866) — (77,866) Net income $ 108,878 $ 12,702 $ 44,659 $ 166,239 $ — $ 166,239 Total assets $ 8,347,767 $ 23,085 $ 2,432,549 $ 10,803,401 $ (984,621) $ 9,818,780 Expenditures for long-lived assets $ 30,982 $ 17 $ — $ 30,999 $ — $ 30,999 [1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. [2] Other non-interest expenses include: Banking: Taxes, other than payroll and income taxes; insurance; advertising; communication; printing, postage, stationary and supplies; travels, meals and training; credit related expenses; director and investor relations; loss on sale of foreclosed real estate and other repossessed properties; losses and operational errors, among other business expenses. Wealth Management: Reinsurance incurred net losses; taxes, other than payroll and income taxes; advertising; insurance; data communication and systems, among other business expenses. Treasury: Data communication and systems; taxes, other than payroll and income taxes; insurance, among other business expenses.

OFG BANCORP (HOLDING COMPANY _2

OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
Condensed Statements Of Financial Position Information	The following condensed financial information presents the financial position of the holding company only as of December 31, 2024 and 2023, and the results of its operations and its cash flows for 2024, 2023 and 2022: December 31, 2024 2023 (In thousands) ASSETS Cash and cash equivalents $ 40,570 $ 73,121 Investment in bank subsidiary, equity method 1,188,830 1,094,581 Investment in nonbank subsidiaries, equity method 38,879 40,145 Deferred tax asset, net 231 293 Due from bank subsidiary, net 57 56 Other assets 504 371 Total assets $ 1,269,071 $ 1,208,567 LIABILITIES AND STOCKHOLDERS’ EQUITY Dividends payable 11,640 10,355 Accrued expenses and other liabilities 3,051 4,729 Due to non-bank subsidiary, net 9 3 Total liabilities 14,700 15,087 Stockholders’ equity 1,254,371 1,193,480 Total liabilities and stockholders’ equity $ 1,269,071 $ 1,208,567
Condensed Statement Of Operations Information	Year Ended December 31, 2024 2023 2022 (In thousands) Income: Interest income $ 3,667 $ 3,712 $ 977 Investment trading activities, net and other 9,586 7,040 6,022 Total income 13,253 10,752 6,999 Expenses: Interest expense — — 521 Operating expenses 9,562 8,230 7,992 Total expenses 9,562 8,230 8,513 Income (loss) before income taxes 3,691 2,522 (1,514) Income tax expense 3,881 3,846 2,782 Loss before earnings of subsidiaries (190) (1,324) (4,296) Equity in earnings from: Bank subsidiary 185,699 170,658 162,236 Nonbank subsidiaries 12,661 12,538 8,299 Net income $ 198,170 $ 181,872 $ 166,239
Condensed Statement Of Comprehensive Income Information	Year Ended December 31, 2024 2023 2022 (In thousands) Net income $ 198,170 $ 181,872 $ 166,239 Other comprehensive (loss) income before tax: Other comprehensive (loss) income from bank subsidiary (22,826) 26,396 (98,569) Other comprehensive (loss) income before taxes (22,826) 26,396 (98,569) Income tax effect — — — Other comprehensive (loss) income after taxes (22,826) 26,396 (98,569) Comprehensive income $ 175,344 $ 208,268 $ 67,670
Condensed Statement Of Cash Flows Information	Year Ended December 31, 2024 2023 2022 (In thousands) Cash flows from operating activities: Net income $ 198,170 $ 181,872 $ 166,239 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings from banking subsidiary (185,699) (170,658) (162,236) Equity in earnings from nonbanking subsidiaries (12,661) (12,538) (8,299) Net decrease in due to non-bank subsidiary, net 5 3 — Gain on early extinguishment of debt — — (42) Stock-based compensation 642 731 652 Deferred income tax, net 62 630 1,703 Net decrease in other assets 5,413 1,270 18,829 Net (decrease) increase in accrued expenses and other liabilities (1,836) 2,149 (488) Dividends from banking subsidiary 75,000 45,000 140,000 Dividends and earnings and profits from non-banking subsidiaries 12,700 4,000 9,500 Net cash provided by operating activities 91,796 52,459 165,858 Cash flows from investing activities: Capital contribution to non-banking subsidiary (4,000) — — Additions to premises and equipment (9) (30) (233) Net cash used in investing activities (4,009) (30) (233) Cash flows from financing activities: Subordinated capital notes — — (34,958) Exercise of stock options and restricted units lapsed, net (4,368) (1,689) (906) Purchase of treasury stock (70,324) (18,653) (64,110) Dividends paid (45,646) (41,011) (30,090) Net cash used in financing activities (120,338) (61,353) (130,064) Net change in cash and cash equivalents (32,551) (8,924) 35,561 Cash and cash equivalents at beginning of year 73,121 82,045 46,484 Cash and cash equivalents at end of year $ 40,570 $ 73,121 $ 82,045

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) branch subsidiarie	Dec. 31, 2023 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Remaining principal balance (as a percent)	100%
Accrued interest receivable	$ 71,667	$ 71,400
Minimum | Other intangibles
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finite lived intangible asset, useful life (in years)	3 years
Maximum | Other intangibles
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finite lived intangible asset, useful life (in years)	10 years
COVID-19 and Hurricane Fiona Deferral Program Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest receivable	$ 18,100	20,200
COVID-19 and Hurricane Fiona Deferral Program Loans | Current
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest receivable	16,300	18,200
Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest receivable	60,864	63,526
Accrued Income Receivable | COVID-19 and Hurricane Fiona Deferral Program Loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 68	$ 85
Commercial loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest writeoff period	90 days
Past due write-off	90 days
Nonaccrual status	90 days
Mortgage loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest writeoff period	90 days
Past due write-off	90 days
Nonaccrual status	90 days
Mortgage loans | Government Guaranteed Loan
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest writeoff period	12 months
Nonaccrual status	12 months
Consumer
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest writeoff period	90 days
Nonaccrual status	90 days
Consumer | Personal loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Past due write-off	120 days
Consumer | Credit cards
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Past due write-off	180 days
Consumer | Credit lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Past due write-off	180 days
Auto
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued interest writeoff period	90 days
Past due write-off	180 days
Nonaccrual status	90 days
Partially written-off	120 days
Puerto Rico
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of branches | branch	42
Number of subsidiaries | subsidiarie	3
VIRGIN ISLANDS, US
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of branches | branch	2
UNITED STATES
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of subsidiaries | subsidiarie	1

CASH RESTRICTIONS (Details)

CASH RESTRICTIONS (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Restricted Cash and Investments [Abstract]
Reserve required by local government	$ 472	$ 464.5

INVESTMENT SECURITIES (Narrativ

INVESTMENT SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Money market investments	$ 6,670	$ 4,623	$ 4,161
Intersegment revenue	0	35,000	196,742
Restricted cash	0	0	157
Securitized GNMA pools retained, amortized cost	$ 74,700	$ 76,400	$ 112,400
Securitized GNMA pool retained, yield	4.87%	5.33%	3.90%
Retained FNMA pools	$ 0	$ 17,200	$ 13,700
FNMA pools retained, yield		5.37%	4.97%
Private Placement Revenue Bond | OFG Bancorp
Debt Securities, Available-for-sale [Line Items]
Acquisition period		2 years
Intersegment revenue		$ 35,000
US Treasury securities
Debt Securities, Available-for-sale [Line Items]
Available for sale, purchase price	549,000	300,000	$ 550,000
Held to maturity, purchase price			200,000
Proceeds from sale of available for sale securities	149,413	203,282	242,373
Gross Losses	7	1,149	$ 247
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	1,564,000	1,624,000
Asset Pledged as Collateral | Public Funds
Debt Securities, Available-for-sale [Line Items]
Pledged assets	$ 1,440,000	$ 1,575,000

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - AFS) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Amortized Cost	$ 2,444,135	$ 2,177,761
Gross Unrealized Gains	9,614	13,476
Gross Unrealized Losses	115,544	91,973
Fair Value	$ 2,338,205	$ 2,099,264
Weighted Average Yield	4.29%	4.07%
Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 2,442,436	$ 1,880,395
Gross Unrealized Gains	9,613	13,424
Gross Unrealized Losses	115,544	91,970
Fair Value	$ 2,336,505	$ 1,801,849
Weighted Average Yield	4.29%	3.86%
Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,699	$ 297,366
Gross Unrealized Gains	1	52
Gross Unrealized Losses	0	3
Fair Value	$ 1,700	$ 297,415
Weighted Average Yield	4.06%	5.39%
FNMA and FHLMC certificates | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,981,787	$ 1,464,134
Gross Unrealized Gains	5,545	8,989
Gross Unrealized Losses	74,451	57,178
Fair Value	$ 1,912,881	$ 1,415,945
Weighted Average Yield	4.46%	4.03%
FNMA and FHLMC certificates | Due from 1 to 5 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 14,930	$ 6,972
Gross Unrealized Gains	0	0
Gross Unrealized Losses	587	311
Fair Value	$ 14,343	$ 6,661
Weighted Average Yield	2.07%	1.76%
FNMA and FHLMC certificates | Due from 5 to 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 23,664	$ 45,835
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,415	2,767
Fair Value	$ 22,249	$ 43,068
Weighted Average Yield	1.90%	2%
FNMA and FHLMC certificates | Due after 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,943,193	$ 1,411,327
Gross Unrealized Gains	5,545	8,989
Gross Unrealized Losses	72,449	54,100
Fair Value	$ 1,876,289	$ 1,366,216
Weighted Average Yield	4.51%	4.11%
GNMA certificates | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 454,881	$ 406,275
Gross Unrealized Gains	4,068	4,435
Gross Unrealized Losses	40,964	34,416
Fair Value	$ 417,985	$ 376,294
Weighted Average Yield	3.57%	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	$ 6,215	$ 8,851
Gross Unrealized Gains	0	0
Gross Unrealized Losses	177	351
Fair Value	$ 6,038	$ 8,500
Weighted Average Yield	1.74%	1.71%
GNMA certificates | Due from 5 to 10 years | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 11,358	$ 17,113
Gross Unrealized Gains	10	16
Gross Unrealized Losses	641	955
Fair Value	$ 10,727	$ 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	$ 437,308	$ 380,306
Gross Unrealized Gains	4,058	4,419
Gross Unrealized Losses	40,146	33,110
Fair Value	$ 401,220	$ 351,615
Weighted Average Yield	3.63%	3.38%
CMOs issued by US government-sponsored agencies | Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 5,768	$ 9,986
Gross Unrealized Gains	0	0
Gross Unrealized Losses	129	376
Fair Value	$ 5,639	$ 9,610
Weighted Average Yield	2.21%	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	$ 5,015	$ 9,071
Gross Unrealized Gains	0	0
Gross Unrealized Losses	126	364
Fair Value	$ 4,889	$ 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	$ 753	$ 861
Gross Unrealized Gains	0	0
Gross Unrealized Losses	3	12
Fair Value	$ 750	$ 849
Weighted Average Yield	5.07%	5.07%
US Treasury securities | Due less than 1 year | Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,149	$ 296,747
Gross Unrealized Gains	1	52
Gross Unrealized Losses	0	0
Fair Value	$ 1,150	$ 296,799
Weighted Average Yield	4.85%	5.40%
Other debt securities | Investment securities
Schedule of Investments [Line Items]
Amortized Cost		$ 619
Gross Unrealized Gains		0
Gross Unrealized Losses		3
Fair Value		$ 616
Weighted Average Yield		3.20%
Other debt securities | Due less than 1 year | Investment securities
Schedule of Investments [Line Items]
Amortized Cost		$ 500
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		$ 500
Weighted Average Yield		3.25%
Other debt securities | Due from 1 to 5 years | Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 550	$ 119
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	3
Fair Value	$ 550	$ 116
Weighted Average Yield	2.41%	2.97%

INVESTMENT SECURITIES (Invest_2

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - HTM) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 327,158	$ 549,024
Gross Unrealized Gains	22	55
Gross Unrealized Losses	60,006	58,315
Fair Value	$ 267,174	$ 490,764
Weighted Average Yield	2.13%	2.60%
Amortized Cost	$ 2,444,135	$ 2,177,761
Gross Unrealized Gains	9,614	13,476
Gross Unrealized Losses	115,544	91,973
Fair Value	$ 2,338,205	$ 2,099,264
Weighted Average Yield	4.29%	4.07%
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 2,442,436	$ 1,880,395
Gross Unrealized Gains	9,613	13,424
Gross Unrealized Losses	115,544	91,970
Fair Value	$ 2,336,505	$ 1,801,849
Weighted Average Yield	4.29%	3.86%
Investment securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 1,699	$ 297,366
Gross Unrealized Gains	1	52
Gross Unrealized Losses	0	3
Fair Value	$ 1,700	$ 297,415
Weighted Average Yield	4.06%	5.39%
FNMA and FHLMC certificates | Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 1,981,787	$ 1,464,134
Gross Unrealized Gains	5,545	8,989
Gross Unrealized Losses	74,451	57,178
Fair Value	$ 1,912,881	$ 1,415,945
Weighted Average Yield	4.46%	4.03%
FNMA and FHLMC certificates | Due from 1 to 5 years | Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 14,930	$ 6,972
Gross Unrealized Gains	0	0
Gross Unrealized Losses	587	311
Fair Value	$ 14,343	$ 6,661
Weighted Average Yield	2.07%	1.76%
FNMA and FHLMC certificates | Due after 10 years | Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 292,158	$ 314,710
Gross Unrealized Gains	0	0
Gross Unrealized Losses	60,006	56,767
Fair Value	$ 232,152	$ 257,943
Weighted Average Yield	1.73%	1.72%
Amortized Cost	$ 1,943,193	$ 1,411,327
Gross Unrealized Gains	5,545	8,989
Gross Unrealized Losses	72,449	54,100
Fair Value	$ 1,876,289	$ 1,366,216
Weighted Average Yield	4.51%	4.11%
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%
Amortized Cost	$ 1,149	$ 296,747
Gross Unrealized Gains	1	52
Gross Unrealized Losses	0	0
Fair Value	$ 1,150	$ 296,799
Weighted Average Yield	4.85%	5.40%
Other debt securities available for sale | Investment securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		$ 619
Gross Unrealized Gains		0
Gross Unrealized Losses		3
Fair Value		$ 616
Weighted Average Yield		3.20%
Other debt securities available for sale | Due less than 1 year | Investment securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 35,000
Gross Unrealized Gains	22
Gross Unrealized Losses	0
Fair Value	$ 35,022
Weighted Average Yield	5.53%
Amortized Cost		$ 500
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		$ 500
Weighted Average Yield		3.25%
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
Gross Unrealized Gains		55
Gross Unrealized Losses		0
Fair Value		$ 35,055
Weighted Average Yield		6.36%
Amortized Cost	$ 550	$ 119
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	3
Fair Value	$ 550	$ 116
Weighted Average Yield	2.41%	2.97%

INVESTMENT SECURITIES (Sale of

INVESTMENT SECURITIES (Sale of Securities Available-for-Sale) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Investment securities available-for-sale	$ 149,406	$ 202,133	$ 242,126
US Treasury securities
Schedule of Investments [Line Items]
Investment securities available-for-sale	149,406	202,133	242,126
Book Value at Sale	149,413	203,282	242,373
Gross Gains	0	0	0
Gross Losses	$ 7	$ 1,149	$ 247

INVESTMENT SECURITIES (Unrealiz

INVESTMENT SECURITIES (Unrealized Gains and Losses by Category) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Securities Available-for-Sale, Amortized Cost
12 months or more	$ 887,222	$ 1,017,108
Less than 12 months	890,768	114,099
Amortized Cost	1,777,990	1,131,207
Securities Available-for-Sale, Unrealized Loss
12 months or more	100,536	91,590
Less than 12 months	15,008	383
Total	115,544	91,973
Securities Available-for-Sale, Fair Value
12 months or more	786,686	925,518
Less than 12 months	875,760	113,716
Total	1,662,446	1,039,234
FNMA and FHLMC certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	641,189	731,334
Less than 12 months	804,976	106,235
Amortized Cost	1,446,165	837,569
Securities Available-for-Sale, Unrealized Loss
12 months or more	61,462	56,847
Less than 12 months	12,989	331
Total	74,451	57,178
Securities Available-for-Sale, Fair Value
12 months or more	579,727	674,487
Less than 12 months	791,987	105,904
Total	1,371,714	780,391
GNMA certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	240,265	275,669
Less than 12 months	85,792	7,864
Amortized Cost	326,057	283,533
Securities Available-for-Sale, Unrealized Loss
12 months or more	38,945	34,364
Less than 12 months	2,019	52
Total	40,964	34,416
Securities Available-for-Sale, Fair Value
12 months or more	201,320	241,305
Less than 12 months	83,773	7,812
Total	285,093	249,117
CMOs issued by US Government-sponsored agencies
Securities Available-for-Sale, Amortized Cost
12 months or more	5,768	9,986
Amortized Cost	5,768	9,986
Securities Available-for-Sale, Unrealized Loss
12 months or more	129	376
Total	129	376
Securities Available-for-Sale, Fair Value
12 months or more	5,639	9,610
Total	$ 5,639	9,610
Other debt securities
Securities Available-for-Sale, Amortized Cost
12 months or more		119
Amortized Cost		119
Securities Available-for-Sale, Unrealized Loss
12 months or more		3
Total		3
Securities Available-for-Sale, Fair Value
12 months or more		116
Total		$ 116

PLEDGED ASSETS (Details)

PLEDGED ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	$ 5,426,360	$ 3,939,856
Financial assets not pledged:	5,048,696	6,271,156
Investment securities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial assets not pledged:	1,101,730	1,024,427
Residential mortgage loans
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial assets not pledged:	783,634	792,796
Commercial
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial assets not pledged:	2,566,102	2,728,777
Consumer Loan
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial assets not pledged:	117,430	620,446
Auto loans
Financial Instruments Owned and Pledged as Collateral [Line Items]
Financial assets not pledged:	479,800	1,104,710
Total pledged investment securities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	1,563,633	1,623,861
Total pledged investment securities | Puerto Rico | Government | Deposits
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	1,439,627	1,575,042
Total pledged investment securities | Bond for the Bank's trust operations
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	104	104
Total pledged investment securities | Bank Term Funding Program
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	41,889	48,070
Total pledged investment securities | IBE Regulation
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	1,045	645
Total pledged investment securities | Securities Sold under Agreements to Repurchase
Financial Instruments Owned and Pledged as Collateral [Line Items]
Amortized Cost of Underlying Securities	80,968	0
Mortgages | Advances from the FHLB
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	700,469	769,813
Commercial
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	541,434	376,471
Commercial | Advances from the FHLB
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	394,597	236,665
Commercial | Puerto Rico | Government | Deposits
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	66,944	69,731
Commercial | Federal Reserve Bank Credit Facility
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	79,893	70,075
Auto loans | Federal Reserve Bank Credit Facility
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	2,069,693	1,169,711
Consumer Loan | Federal Reserve Bank Credit Facility
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged investment securities to secure:	$ 551,131	$ 0

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2024 USD ($) portfolioSegment	Dec. 31, 2024 USD ($) portfolioSegment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan portfolio segments | portfolioSegment	4	4
Principle balance	$ 7,616,099	$ 7,616,099	$ 7,373,273
Total loans held-for-sale	17,732	17,732	28,345
Total Loans	7,791,962	7,791,962	7,534,379
Mortgage servicing rights		20,377	0	$ 0
Accrued interest receivable on modified loans		127	188
Recorded investment of residential mortgage loans collateralized and in process of foreclosure	25,000	25,000	24,100
Accrued interest receivable	71,667	71,667	71,400
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	60,864	60,864	63,526
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principle balance	6,689,502	6,689,502	6,310,517
Total loans held-for-sale	17,732	17,732	28,345
Total Loans	6,860,211	6,860,211	6,463,127
Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	300,158	300,158	243,037
Mortgage Loans - GNMA Buy-Back Option Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loans	48,600	48,600	19,400
Mortgage servicing rights	1,700,000
Defaulted mortgage loan amount	24,200	24,200
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, sale		56,600
Recognized gain on sale		900
Total loans held-for-sale	4,446	4,446	28,345
Total Loans	3,103,091	$ 3,103,091	3,076,903
Nonaccrual status		90 days
Commitment to lend additional funds	0	$ 0	0
Balance of revolving loans converted to term loans, amount	191,900	191,900	144,100
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			6,400
Commercial loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	4,446	4,446	28,345
Total Loans	3,014,362	3,014,362	2,941,456
Commercial loans | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	20,193	20,193	14,298
Commercial loans | Small Business Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, sale			4,300
Principle balance			25,300
Recognized gain on sale			6,300
Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,399,010	2,399,010	2,321,675
Commercial loans | Puerto Rico | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,310,281	2,310,281	2,186,228
Commercial loans | Puerto Rico | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	15,688	15,688	14,298
Commercial loans | Puerto Rico | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	66,400	66,400	68,600
Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	13,286	13,286	0
Total Loans	1,470,817	$ 1,470,817	1,562,609
Nonaccrual status		90 days
Mortgage loans | Government Guaranteed Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual status		12 months
Total	$ 1,000	$ 1,000	4,600
Period past due	90 days	90 days
Mortgage loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	$ 13,286	$ 13,286	0
Total Loans	628,853	628,853	629,247
Mortgage loans | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	71,426	71,426	47,260
Mortgage and consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance of revolving loans converted to term loans, amount	2,200	2,200	0
Mortgage and consumer loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 1,296,816	$ 1,296,816	$ 1,249,141

LOANS (Composition of Loan Port

LOANS (Composition of Loan Portfolio) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 7,791,962	$ 7,534,379
Allowance for credit losses	(175,863)	(161,106)	$ (152,673)
Total loans held for investment, net	7,616,099	7,373,273
Total loans held-for-sale	17,732	28,345
Total loans	7,633,831	7,401,618
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	3,103,091	3,076,903
Allowance for credit losses	(45,436)	(45,154)	(40,546)
Total loans held-for-sale	4,446	28,345
Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,399,010	2,321,675
Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	704,081	755,228
Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,470,817	1,562,609
Allowance for credit losses	(10,909)	(15,349)	(18,930)
Total loans held-for-sale	13,286	0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	668,561	620,446
Allowance for credit losses	(31,829)	(27,093)	(23,278)
Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,549,493	2,274,421
Allowance for credit losses	(87,689)	(73,510)	(69,919)
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	6,860,211	6,463,127
Allowance for credit losses	(170,709)	(152,610)	(141,841)	$ (132,065)
Total loans held for investment, net	6,689,502	6,310,517
Total loans held-for-sale	17,732	28,345
Total loans	6,707,234	6,338,862
Non-PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	3,014,362	2,941,456
Allowance for credit losses	(44,814)	(44,041)	(39,158)	(32,262)
Total loans held-for-sale	4,446	28,345
Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,310,281	2,186,228
Non-PCD | Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	704,081	755,228
Non-PCD | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	628,853	629,247
Allowance for credit losses	(6,395)	(7,998)	(9,571)	(15,299)
Total loans held-for-sale	13,286	0
Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	667,963	619,894
Allowance for credit losses	(31,818)	(27,086)	(23,264)	(19,141)
Non-PCD | Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,549,033	2,272,530
Allowance for credit losses	(87,682)	(73,485)	(69,848)	(65,363)
PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	931,751	1,071,252
Allowance for credit losses	(5,154)	(8,496)	(10,832)	(23,872)
Total loans held for investment, net	926,597	1,062,756
Total loans held-for-sale	0	0
Total loans	926,597	1,062,756
PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	88,729	135,447
Allowance for credit losses	(622)	(1,113)	(1,388)	(4,508)
Total loans held-for-sale	0	0
PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	88,729	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	841,964	933,362
Allowance for credit losses	(4,514)	(7,351)	(9,359)	(19,018)
Total loans held-for-sale	0	0
PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	598	552
Allowance for credit losses	(11)	(7)	(14)	(34)
PCD | Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	460	1,891
Allowance for credit losses	(7)	(25)	$ (71)	$ (312)
Commercial secured by real estate | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,299,591	1,216,195
Commercial secured by real estate | Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,222,395	1,095,207
Commercial secured by real estate | PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	77,196	120,988
Other commercial and industrial | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,099,419	1,105,480
Other commercial and industrial | Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,087,886	1,091,021
Other commercial and industrial | PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	11,533	14,459
Commercial US | Non-PCD | Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	704,081	755,228
Personal loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	620,675	568,622
Personal loans | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	620,430	568,358
Personal loans | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	245	264
Credit lines | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	10,479	11,214
Credit lines | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	10,126	10,926
Credit lines | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	353	288
Credit cards | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	36,956	40,314
Credit cards | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	36,956	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	451	296
Overdraft | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	451	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	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total Loans	$ 7,791,962	$ 7,534,379
Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	3,103,091	3,076,903
Mortgage loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,470,817	1,562,609
Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	668,561	620,446
Auto loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,549,493	2,274,421
Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,860,211	6,463,127
Loans 90+ Days Past Due and Still Accruing	2,047	2,478
Non-PCD | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	300,158	243,037
Non-PCD | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	135,976	117,664
Non-PCD | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	66,574	60,739
Non-PCD | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	97,608	64,634
Non-PCD | Current
Financing Receivable, Past Due [Line Items]
Total Loans	6,560,053	6,220,090
Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	3,014,362	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	20,193	14,298
Non-PCD | Commercial loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,476	2,951
Non-PCD | Commercial loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	5,349	702
Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	13,368	10,645
Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	2,994,169	2,927,158
Non-PCD | Mortgage loans
Financing Receivable, Past Due [Line Items]
Total Loans	628,853	629,247
Loans 90+ Days Past Due and Still Accruing	2,047	2,478
Non-PCD | Mortgage loans | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	71,426	47,260
Non-PCD | Mortgage loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	5,362	6,107
Non-PCD | Mortgage loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	6,069	9,596
Non-PCD | Mortgage loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	59,995	31,557
Non-PCD | Mortgage loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	557,427	581,987
Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	667,963	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	18,471	14,742
Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	9,333	6,996
Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	4,948	4,370
Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	4,190	3,376
Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	649,492	605,152
Non-PCD | Auto loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,549,033	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	190,068	166,737
Non-PCD | Auto loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	119,805	101,610
Non-PCD | Auto loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	50,208	46,071
Non-PCD | Auto loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	20,055	19,056
Non-PCD | Auto loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	2,358,965	2,105,793
Personal loans | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	620,675	568,622
Personal loans | Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	620,430	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	16,671	12,911
Personal loans | Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	8,522	6,115
Personal loans | Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	4,655	4,041
Personal loans | Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	3,494	2,755
Personal loans | Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	603,759	555,447
Credit lines | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	10,479	11,214
Credit lines | Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	10,126	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	216	207
Credit lines | Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	53	137
Credit lines | Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	38	35
Credit lines | Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	125	35
Credit lines | Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	9,910	10,719
Credit cards | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	36,956	40,314
Credit cards | Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	36,956	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	1,496	1,523
Credit cards | Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	670	657
Credit cards | Non-PCD | Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	255	280
Credit cards | Non-PCD | Consumer | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	571	586
Credit cards | Non-PCD | Consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	35,460	38,791
Overdraft | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	451	296
Overdraft | Non-PCD | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	451	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	88	101
Overdraft | Non-PCD | Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	88	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	363	195
Puerto Rico | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,399,010	2,321,675
Puerto Rico | Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,310,281	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	15,688	14,298
Puerto Rico | Non-PCD | Commercial loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,476	2,951
Puerto Rico | Non-PCD | Commercial loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	844	702
Puerto Rico | Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	13,368	10,645
Puerto Rico | Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	2,294,593	2,171,930
Puerto Rico | Commercial secured by real estate | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,299,591	1,216,195
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,222,395	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	10,874	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	879	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	215	411
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	9,780	5,671
Puerto Rico | Commercial secured by real estate | Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	1,211,521	1,087,540
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,087,886	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	4,814	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	597	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	629	291
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans | 90+ Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	3,588	4,974
Puerto Rico | Other commercial and industrial | Non-PCD | Commercial loans | Current
Financing Receivable, Past Due [Line Items]
Total Loans	1,083,072	1,084,390
UNITED STATES | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	704,081	755,228
UNITED STATES | Non-PCD | Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	704,081	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	4,505	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	4,505	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	$ 699,576	$ 755,228

LOANS (Investment in Loans on N

LOANS (Investment in Loans on Non-Accrual Status) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	$ 61,698	$ 63,399
Non-accrual with no Allowance for Credit Loss	16,280	16,000
Total	77,978	79,399
Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	60,764	60,089
Non-accrual with no Allowance for Credit Loss	14,334	12,636
Total	75,098	72,725
Non-PCD | Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	27,782	27,337
Non-accrual with no Allowance for Credit Loss	11,131	8,759
Total	38,913	36,096
Non-PCD | Mortgage loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	8,770	10,339
Non-accrual with no Allowance for Credit Loss	3,153	3,858
Total	11,923	14,197
Non-PCD | Consumer
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	4,163	3,362
Non-accrual with no Allowance for Credit Loss	44	14
Total	4,207	3,376
Non-PCD | Consumer | Personal loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,468	2,741
Non-accrual with no Allowance for Credit Loss	44	14
Total	3,512	2,755
Non-PCD | Consumer | Credit lines
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	125	35
Non-accrual with no Allowance for Credit Loss	0	0
Total	125	35
Non-PCD | Consumer | Credit cards
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	570	586
Non-accrual with no Allowance for Credit Loss	0	0
Total	570	586
Non-PCD | Auto loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	20,049	19,051
Non-accrual with no Allowance for Credit Loss	6	5
Total	20,055	19,056
PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	934	3,310
Non-accrual with no Allowance for Credit Loss	1,946	3,364
Total	2,880	6,674
PCD | Mortgage loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	239	250
Non-accrual with no Allowance for Credit Loss	0	0
Total	239	250
Puerto Rico | Non-PCD | Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	6,465	8,113
Non-accrual with no Allowance for Credit Loss	8,244	8,759
Total	14,709	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	4,610	3,553
Non-accrual with no Allowance for Credit Loss	6,248	7,929
Total	10,858	11,482
Puerto Rico | Non-PCD | Commercial loans | Other commercial and industrial
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	1,855	4,560
Non-accrual with no Allowance for Credit Loss	1,996	830
Total	3,851	5,390
Puerto Rico | PCD | Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	695	3,060
Non-accrual with no Allowance for Credit Loss	1,946	3,364
Total	2,641	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	1,946	2,417
Total	1,946	5,477
Puerto Rico | PCD | Commercial loans | Other commercial and industrial
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	695	0
Non-accrual with no Allowance for Credit Loss	0	947
Total	695	947
UNITED STATES | Non-PCD | Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	21,317	19,224
Non-accrual with no Allowance for Credit Loss	2,887	0
Total	$ 24,204	$ 19,224

LOANS (Troubled-Amortized Cost

LOANS (Troubled-Amortized Cost Basis Debt Restructuring Loan Portfolio) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 9,445	$ 6,734
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	1,688	12,811
Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	6,286	97
Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	88	843
Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	105	4,623
Commercial loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 6,649
% of Total Class of Financing Receivable		0.88%
Commercial loans | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		0%
Commercial loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 7,021
% of Total Class of Financing Receivable		0.23%
Commercial loans | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 7,021
% of Total Class of Financing Receivable		0.23%
Commercial loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		0%
Commercial loans | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		0%
Commercial loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		0%
Commercial loans | Combination of Term Extension and Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		0%
Commercial loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 4,183
% of Total Class of Financing Receivable		0.55%
Commercial loans | Combination of Term Extension and Principal Forgiveness / Forbearance | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		0%
Commercial loans | Commercial secured by real estate | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		0%
Commercial loans | Commercial secured by real estate | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 6,332
% of Total Class of Financing Receivable		0.52%
Commercial loans | Commercial secured by real estate | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		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
% of Total Class of Financing Receivable		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
% of Total Class of Financing Receivable		0%
Commercial loans | Other commercial and industrial | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		0%
Commercial loans | Other commercial and industrial | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 689
% of Total Class of Financing Receivable		0.06%
Commercial loans | Other commercial and industrial | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0
% of Total Class of Financing Receivable		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
% of Total Class of Financing Receivable		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
% of Total Class of Financing Receivable		0%
Commercial loans | Commercial US | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 9,257	$ 6,649
% of Total Class of Financing Receivable	1.31%	0.88%
Commercial loans | Commercial US | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0
% of Total Class of Financing Receivable	0%	0%
Commercial loans | Commercial US | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 6,286	$ 0
% of Total Class of Financing Receivable	0.89%	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
% of Total Class of Financing Receivable	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	$ 4,183
% of Total Class of Financing Receivable	0%	0.55%
Mortgage loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0
% of Total Class of Financing Receivable	0%	0%
Mortgage loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 1,682	$ 5,777
% of Total Class of Financing Receivable	0.11%	0.37%
Mortgage loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 97
% of Total Class of Financing Receivable	0%	0.01%
Mortgage loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 88	$ 710
% of Total Class of Financing Receivable	0.01%	0.05%
Mortgage loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 105	$ 440
% of Total Class of Financing Receivable	0.01%	0.03%
Personal loans | Personal loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 26	$ 37
% of Total Class of Financing Receivable	0%	0.01%
Personal loans | Personal loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 6	$ 0
% of Total Class of Financing Receivable	0%	0%
Personal loans | Personal loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0
% of Total Class of Financing Receivable	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	$ 80
% of Total Class of Financing Receivable	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
% of Total Class of Financing Receivable	0%	0%
Auto loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 162	$ 48
% of Total Class of Financing Receivable	0.01%	0%
Auto loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 13
% of Total Class of Financing Receivable	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	$ 53
% of Total Class of Financing Receivable	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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Commercial loans | Commercial secured by real estate | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction		0%
Weighted-Average Term Extension (In months)		23 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)		$ 0
Commercial loans | Commercial US
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	0.73%
Weighted-Average Term Extension (In months)	0 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)	$ 623
Commercial loans | Commercial US | UNITED STATES
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	0.38%	1.94%
Weighted-Average Term Extension (In months)	149 months	213 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)	$ 11	$ 24
Personal loans | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	5%	2.98%
Weighted-Average Term Extension (In months)	18 months	81 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)	$ 0	$ 0
Auto loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	2.82%	3%
Weighted-Average Term Extension (In months)	0 months	0 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)	$ 0	$ 0

LOANS (Loans Held For Investmen

LOANS (Loans Held For Investment That Subsequently Defaulted) (Details) - Mortgage loans - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	$ 149	$ 704
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	149	704
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	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	$ 17,612	$ 25,108
Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	304	1,381
30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	118	501
60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	37	297
90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	149	583
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	17,308	23,727
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		17,853
Commercial loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Commercial loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Commercial loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Commercial loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Commercial loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		17,853
Mortgage loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	1,875	7,024
Mortgage loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	304	1,351
Mortgage loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	118	471
Mortgage loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	37	297
Mortgage loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	149	583
Mortgage loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	1,571	5,673
Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	32	117
Consumer | Personal loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Consumer | Personal loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	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	32	117
Auto loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	162	114
Auto loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	30
Auto loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	30
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	162	84
Puerto Rico | Commercial loans | Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		6,332
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		6,332
Puerto Rico | Commercial loans | Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		689
Puerto Rico | Commercial loans | Other commercial and industrial | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Other commercial and industrial | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Other commercial and industrial | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Other commercial and industrial | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		0
Puerto Rico | Commercial loans | Other commercial and industrial | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		689
Puerto Rico | Commercial loans | Commercial PR
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans		7,021
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		7,021
UNITED STATES | Commercial loans | Commercial US
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	15,543	10,832
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	$ 15,543	$ 10,832

LOANS (Aging of the Amortized C

LOANS (Aging of the Amortized Cost of Collateral-Dependent Loans Held For Investment) (Details) - USD ($) $ in Thousands	Dec. 31, 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	$ 6,877	$ 8,027

LOANS (Credit Quality Indicator

LOANS (Credit Quality Indicators of Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 7,791,962	$ 7,534,379
Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,103,091	3,076,903
Term loans amortized by cost basis, in current fiscal year, gross charge-offs	117	33
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs	327	1,280
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs	690	2,002
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs	5,322	136
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs	0	103
Prior, charge-offs	1,761	10,637
Revolving Loans Amortized Cost Basis, gross charge-offs	0	0
Total	8,217	14,191
Commercial PR: | Commercial US:
Financing Receivable, Credit Quality Indicator [Line Items]
Total		10,500
Mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,470,817	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	126	755
Revolving Loans Amortized Cost Basis, gross charge-offs	0	0
Total	126	759
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	668,561	620,446
Term loans amortized by cost basis, in current fiscal year, gross charge-offs	1,425	1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs	10,788	10,512
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs	11,973	4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs	3,443	830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs	700	1,384
Prior, charge-offs	1,088	731
Revolving Loans Amortized Cost Basis, gross charge-offs	3,849	3,789
Total	33,266	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	1,425	1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs	10,788	10,512
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs	11,973	4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs	3,443	830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs	700	1,384
Prior, charge-offs	1,088	731
Revolving Loans Amortized Cost Basis, gross charge-offs	0	0
Total	29,417	19,866
Consumer | Credit lines
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	10,479	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	156	419
Total	156	419
Consumer | Credit cards
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	36,956	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	2,781	2,825
Total	2,781	2,825
Consumer | Overdraft
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	451	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	912	545
Total	912	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	1,425	1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs	10,788	10,516
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs	11,973	4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs	3,443	830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs	700	1,384
Prior, charge-offs	1,214	1,486
Revolving Loans Amortized Cost Basis, gross charge-offs	3,849	3,789
Total	33,392	24,414
Auto loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,549,493	2,274,421
Term loans amortized by cost basis, in current fiscal year, gross charge-offs	4,068	4,090
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs	21,603	18,142
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs	18,912	10,894
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs	8,552	4,008
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs	3,799	3,380
Prior, charge-offs	4,717	3,250
Total	61,651	43,764
Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	6,860,211	6,463,127
Total	103,260	82,369	$ 61,524
Non-PCD | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	439,824	662,278
Term loans amortized by cost basis, in one year prior to current fiscal year	624,400	393,072
Term loans amortized by cost basis, in two years prior to current fiscal year	338,012	387,643
Term loans amortized by cost basis, in three years prior to current fiscal year	356,390	195,785
Term loans amortized by cost basis, in four years prior to current fiscal year	152,776	135,588
Prior	234,893	184,376
Revolving Loans Amortized Cost Basis	868,067	982,714
Total Loans	3,014,362	2,941,456
Total	8,217	14,191	13,380
Non-PCD | Mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	41,248	24,623
Term loans amortized by cost basis, in one year prior to current fiscal year	19,622	19,722
Term loans amortized by cost basis, in two years prior to current fiscal year	23,314	23,484
Term loans amortized by cost basis, in three years prior to current fiscal year	28,500	15,929
Term loans amortized by cost basis, in four years prior to current fiscal year	20,305	15,068
Prior	495,864	530,421
Revolving Loans Amortized Cost Basis	0	0
Total Loans	628,853	629,247
Total	126	759	284
Non-PCD | Mortgage loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	41,100	24,623
Term loans amortized by cost basis, in one year prior to current fiscal year	18,986	19,722
Term loans amortized by cost basis, in two years prior to current fiscal year	23,207	23,303
Term loans amortized by cost basis, in three years prior to current fiscal year	28,034	15,821
Term loans amortized by cost basis, in four years prior to current fiscal year	20,203	14,589
Prior	480,388	511,182
Revolving Loans Amortized Cost Basis	0	0
Total Loans	611,918	609,240
Non-PCD | Mortgage loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	148	0
Term loans amortized by cost basis, in one year prior to current fiscal year	636	0
Term loans amortized by cost basis, in two years prior to current fiscal year	107	181
Term loans amortized by cost basis, in three years prior to current fiscal year	466	108
Term loans amortized by cost basis, in four years prior to current fiscal year	102	479
Prior	15,476	19,239
Revolving Loans Amortized Cost Basis	0	0
Total Loans	16,935	20,007
Non-PCD | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	266,393	271,386
Term loans amortized by cost basis, in one year prior to current fiscal year	177,224	188,200
Term loans amortized by cost basis, in two years prior to current fiscal year	115,920	68,437
Term loans amortized by cost basis, in three years prior to current fiscal year	41,147	19,378
Term loans amortized by cost basis, in four years prior to current fiscal year	11,614	14,526
Prior	8,132	6,431
Revolving Loans Amortized Cost Basis	47,533	51,536
Total Loans	667,963	619,894
Total	33,266	23,655	15,198
Non-PCD | Consumer | Personal loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	266,393	271,386
Term loans amortized by cost basis, in one year prior to current fiscal year	177,224	188,200
Term loans amortized by cost basis, in two years prior to current fiscal year	115,920	68,437
Term loans amortized by cost basis, in three years prior to current fiscal year	41,147	19,378
Term loans amortized by cost basis, in four years prior to current fiscal year	11,614	14,526
Prior	8,132	6,431
Revolving Loans Amortized Cost Basis	0	0
Total Loans	620,430	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	265,955	270,883
Term loans amortized by cost basis, in one year prior to current fiscal year	175,932	186,612
Term loans amortized by cost basis, in two years prior to current fiscal year	114,654	68,133
Term loans amortized by cost basis, in three years prior to current fiscal year	40,794	19,185
Term loans amortized by cost basis, in four years prior to current fiscal year	11,563	14,460
Prior	8,020	6,330
Revolving Loans Amortized Cost Basis	0	0
Total Loans	616,918	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	438	503
Term loans amortized by cost basis, in one year prior to current fiscal year	1,292	1,588
Term loans amortized by cost basis, in two years prior to current fiscal year	1,266	304
Term loans amortized by cost basis, in three years prior to current fiscal year	353	193
Term loans amortized by cost basis, in four years prior to current fiscal year	51	66
Prior	112	101
Revolving Loans Amortized Cost Basis	0	0
Total Loans	3,512	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	10,126	10,926
Total Loans	10,126	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	10,001	10,891
Total Loans	10,001	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	125	35
Total Loans	125	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	36,956	40,314
Total Loans	36,956	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	36,386	39,728
Total Loans	36,386	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	570	586
Total Loans	570	586
Non-PCD | Consumer | Overdraft
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	451	296
Total Loans	451	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	451	296
Total Loans	451	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total Loans	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	307,641	296,009
Term loans amortized by cost basis, in one year prior to current fiscal year	196,846	207,922
Term loans amortized by cost basis, in two years prior to current fiscal year	139,234	91,921
Term loans amortized by cost basis, in three years prior to current fiscal year	69,647	35,307
Term loans amortized by cost basis, in four years prior to current fiscal year	31,919	29,594
Prior	503,996	536,852
Revolving Loans Amortized Cost Basis	47,533	51,536
Total Loans	1,296,816	1,249,141
Non-PCD | Auto loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	857,217	820,277
Term loans amortized by cost basis, in one year prior to current fiscal year	711,934	631,054
Term loans amortized by cost basis, in two years prior to current fiscal year	482,628	364,865
Term loans amortized by cost basis, in three years prior to current fiscal year	264,150	189,059
Term loans amortized by cost basis, in four years prior to current fiscal year	124,435	152,192
Prior	108,669	115,083
Total Loans	2,549,033	2,272,530
Total	61,651	43,764	$ 32,662
Non-PCD | Auto loans | 1-660
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	157,865	170,639
Term loans amortized by cost basis, in one year prior to current fiscal year	191,510	190,743
Term loans amortized by cost basis, in two years prior to current fiscal year	163,990	118,821
Term loans amortized by cost basis, in three years prior to current fiscal year	93,675	57,087
Term loans amortized by cost basis, in four years prior to current fiscal year	41,016	41,124
Prior	38,369	38,570
Total Loans	686,425	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	172,579	169,430
Term loans amortized by cost basis, in one year prior to current fiscal year	116,145	110,260
Term loans amortized by cost basis, in two years prior to current fiscal year	69,573	58,166
Term loans amortized by cost basis, in three years prior to current fiscal year	36,607	25,886
Term loans amortized by cost basis, in four years prior to current fiscal year	15,583	18,253
Prior	13,720	16,137
Total Loans	424,207	398,132
Non-PCD | Auto loans | 700+
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	521,507	474,005
Term loans amortized by cost basis, in one year prior to current fiscal year	397,649	323,514
Term loans amortized by cost basis, in two years prior to current fiscal year	243,449	183,286
Term loans amortized by cost basis, in three years prior to current fiscal year	130,613	103,886
Term loans amortized by cost basis, in four years prior to current fiscal year	66,571	88,929
Prior	54,947	58,779
Total Loans	1,414,736	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	5,266	6,203
Term loans amortized by cost basis, in one year prior to current fiscal year	6,630	6,537
Term loans amortized by cost basis, in two years prior to current fiscal year	5,616	4,592
Term loans amortized by cost basis, in three years prior to current fiscal year	3,255	2,200
Term loans amortized by cost basis, in four years prior to current fiscal year	1,265	3,886
Prior	1,633	1,597
Total Loans	23,665	25,015
Puerto Rico | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,399,010	2,321,675
Puerto Rico | Commercial PR: | Commercial secured by real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,299,591	1,216,195
Puerto Rico | Non-PCD | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,310,281	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	219,185	224,598
Term loans amortized by cost basis, in one year prior to current fiscal year	217,846	218,436
Term loans amortized by cost basis, in two years prior to current fiscal year	237,714	203,824
Term loans amortized by cost basis, in three years prior to current fiscal year	198,562	126,655
Term loans amortized by cost basis, in four years prior to current fiscal year	108,669	98,962
Prior	192,893	155,470
Revolving Loans Amortized Cost Basis	47,526	67,262
Total Loans	1,222,395	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	184	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	26	820
Revolving Loans Amortized Cost Basis, gross charge-offs	0	0
Total	210	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	219,185	224,598
Term loans amortized by cost basis, in one year prior to current fiscal year	204,144	216,205
Term loans amortized by cost basis, in two years prior to current fiscal year	229,955	195,884
Term loans amortized by cost basis, in three years prior to current fiscal year	190,891	120,489
Term loans amortized by cost basis, in four years prior to current fiscal year	106,562	80,671
Prior	180,600	131,016
Revolving Loans Amortized Cost Basis	46,448	65,873
Total Loans	1,177,785	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
Term loans amortized by cost basis, in one year prior to current fiscal year	13,702	1,772
Term loans amortized by cost basis, in two years prior to current fiscal year	7,205	6,554
Term loans amortized by cost basis, in three years prior to current fiscal year	6,192	5,057
Term loans amortized by cost basis, in four years prior to current fiscal year	909	15,676
Prior	3,721	12,500
Revolving Loans Amortized Cost Basis	73	153
Total Loans	31,802	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	459
Term loans amortized by cost basis, in two years prior to current fiscal year	554	1,386
Term loans amortized by cost basis, in three years prior to current fiscal year	1,479	1,109
Term loans amortized by cost basis, in four years prior to current fiscal year	1,198	2,615
Prior	8,572	11,939
Revolving Loans Amortized Cost Basis	1,005	1,236
Total Loans	12,808	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	15
Revolving Loans Amortized Cost Basis	0	0
Total Loans	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total Loans	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	146,393	284,626
Term loans amortized by cost basis, in one year prior to current fiscal year	270,068	102,948
Term loans amortized by cost basis, in two years prior to current fiscal year	52,114	114,586
Term loans amortized by cost basis, in three years prior to current fiscal year	95,403	37,924
Term loans amortized by cost basis, in four years prior to current fiscal year	23,969	8,424
Prior	14,469	15,122
Revolving Loans Amortized Cost Basis	485,470	527,391
Total Loans	1,087,886	1,091,021
Term loans amortized by cost basis, in current fiscal year, gross charge-offs	117	0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs	143	124
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs	298	1,095
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs	3,573	89
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs	0	9
Prior, charge-offs	238	1,180
Revolving Loans Amortized Cost Basis, gross charge-offs	0	0
Total	4,369	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	146,372	284,615
Term loans amortized by cost basis, in one year prior to current fiscal year	269,680	99,522
Term loans amortized by cost basis, in two years prior to current fiscal year	48,516	113,760
Term loans amortized by cost basis, in three years prior to current fiscal year	49,751	37,665
Term loans amortized by cost basis, in four years prior to current fiscal year	23,858	7,438
Prior	13,508	14,836
Revolving Loans Amortized Cost Basis	477,838	527,008
Total Loans	1,029,523	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	8
Term loans amortized by cost basis, in one year prior to current fiscal year	373	2,953
Term loans amortized by cost basis, in two years prior to current fiscal year	3,281	0
Term loans amortized by cost basis, in three years prior to current fiscal year	45,012	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	51
Prior	136	100
Revolving Loans Amortized Cost Basis	4,920	0
Total Loans	53,722	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	21	3
Term loans amortized by cost basis, in one year prior to current fiscal year	15	473
Term loans amortized by cost basis, in two years prior to current fiscal year	317	826
Term loans amortized by cost basis, in three years prior to current fiscal year	640	259
Term loans amortized by cost basis, in four years prior to current fiscal year	111	935
Prior	825	186
Revolving Loans Amortized Cost Basis	2,712	383
Total Loans	4,641	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total Loans	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total Loans	0	0
UNITED STATES | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	704,081	755,228
UNITED STATES | Non-PCD | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	704,081	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	74,246	153,054
Term loans amortized by cost basis, in one year prior to current fiscal year	136,486	71,688
Term loans amortized by cost basis, in two years prior to current fiscal year	48,184	69,233
Term loans amortized by cost basis, in three years prior to current fiscal year	62,425	31,206
Term loans amortized by cost basis, in four years prior to current fiscal year	20,138	28,202
Prior	27,531	13,784
Revolving Loans Amortized Cost Basis	335,071	388,061
Total Loans	704,081	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	1,497	8,637
Revolving Loans Amortized Cost Basis, gross charge-offs	0	0
Total	3,638	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	56,534	142,222
Term loans amortized by cost basis, in one year prior to current fiscal year	120,064	63,885
Term loans amortized by cost basis, in two years prior to current fiscal year	21,648	69,233
Term loans amortized by cost basis, in three years prior to current fiscal year	57,736	31,206
Term loans amortized by cost basis, in four years prior to current fiscal year	20,138	28,202
Prior	21,884	8,085
Revolving Loans Amortized Cost Basis	273,971	358,757
Total Loans	571,975	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	7,803
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	39,896	20,913
Total Loans	39,896	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	16,094	10,832
Term loans amortized by cost basis, in one year prior to current fiscal year	16,422	0
Term loans amortized by cost basis, in two years prior to current fiscal year	26,536	0
Term loans amortized by cost basis, in three years prior to current fiscal year	4,689	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	5,647	5,699
Revolving Loans Amortized Cost Basis	21,204	8,391
Total Loans	90,592	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	1,618	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total Loans	1,618	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
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total Loans	$ 0	$ 0

ALLOWANCE FOR CREDIT LOSSES (Na

ALLOWANCE FOR CREDIT LOSSES (Narrative) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022 USD ($)	Dec. 31, 2024 USD ($) Loan	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) Loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Decrease in allowance for credit losses		$ 14,800
Provision for credit losses		82,251	$ 60,638	$ 24,119
Financing receivable, excluding accrued interest, allowance for credit loss, writeoff (recovery)		(67,800)
Increase (decrease) in net charge-offs		15,900
PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		1,170	3,902	2,250
Recoveries		3,003	3,054	7,220
Provision for (recapture of) credit losses		(5,175)	(1,488)	(18,010)
Non-PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		103,260	82,369	61,524
Recoveries		33,637	31,373	28,882
Provision for (recapture of) credit losses		87,722	61,765	42,418
Other commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Net charge off		3,500
Recoveries		2,600
Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses		13,400
Increase (decrease) in net charge-offs		(8,800)
Charge-offs		8,217	14,191
Commercial loans | UNITED STATES
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses		$ 8,600
Number of commercial loans | Loan		4
Commercial loans | PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		$ 967	2,794	69
Recoveries	$ 1,100	1,411	1,618	3,804
Provision for (recapture of) credit losses		(935)	901	$ (6,855)
Number of commercial loans | Loan				4
Number of commercial loans sold | Loan				2
Commercial loans | PCD | Puerto Rico
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries				$ 2,800
Commercial loans | Non-PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		8,217	14,191	13,380
Recoveries		2,068	874	1,200
Provision for (recapture of) credit losses		6,922	18,200	19,076
Commercial loans | Loans Sold | PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs				12,300
Commercial loans | Other commercial and industrial | Non-PCD | Puerto Rico
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		4,369	2,497
Commercial loans | Commercial US
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs			10,500
Commercial loans | Commercial US | Non-PCD | UNITED STATES
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		3,638	10,515
Commercial loans | Small Business Commercial Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs			906
Auto loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs		17,000
Charge-offs		61,651	43,764
Auto loans | PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		25	170	310
Recoveries		204	642	657
Provision for (recapture of) credit losses		(197)	(518)	(588)
Auto loans | Non-PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		61,651	43,764	32,662
Recoveries		26,334	25,107	21,131
Provision for (recapture of) credit losses		49,514	22,294	16,016
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs		(9,000)
Charge-offs		33,266	23,655
Consumer | PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		0	621	176
Recoveries		62	96	94
Provision for (recapture of) credit losses		(58)	518	62
Consumer | Non-PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs		33,266	23,655	15,198
Recoveries		4,166	4,175	3,237
Provision for (recapture of) credit losses		33,832	23,302	$ 16,084
Consumer And Automobile And Leasing Portfolio Segments
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries			$ 3,700
Loss Rate Models
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses		12,600
Economic Rate Models
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses		6,000
Uncertainty Of Recent Auto Delinquency Trends
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses		5,700
Uncertainty Of Recent Auto Delinquency Trends | UNITED STATES
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses		2,700
Financing Receivable, Loan Growth
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses		$ 60,200

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	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year		$ 161,106	$ 152,673
Balance at end of year		175,863	161,106	$ 152,673
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year		45,154	40,546
Charge-offs		(8,217)	(14,191)
Balance at end of year		45,436	45,154	40,546
Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year		15,349	18,930
Charge-offs		(126)	(759)
Balance at end of year		10,909	15,349	18,930
Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year		27,093	23,278
Charge-offs		(33,266)	(23,655)
Balance at end of year		31,829	27,093	23,278
Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year		73,510	69,919
Charge-offs		(61,651)	(43,764)
Balance at end of year		87,689	73,510	69,919
Non-PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 132,065	152,610	141,841	132,065
Provision for (recapture of) credit losses		87,722	61,765	42,418
Charge-offs		(103,260)	(82,369)	(61,524)
Recoveries		33,637	31,373	28,882
Balance at end of year		170,709	152,610	141,841
Non-PCD | Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	32,262	44,041	39,158	32,262
Provision for (recapture of) credit losses		6,922	18,200	19,076
Charge-offs		(8,217)	(14,191)	(13,380)
Recoveries		2,068	874	1,200
Balance at end of year		44,814	44,041	39,158
Non-PCD | Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	15,299	7,998	9,571	15,299
Provision for (recapture of) credit losses		(2,546)	(2,031)	(8,758)
Charge-offs		(126)	(759)	(284)
Recoveries		1,069	1,217	3,314
Balance at end of year		6,395	7,998	9,571
Non-PCD | Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	19,141	27,086	23,264	19,141
Provision for (recapture of) credit losses		33,832	23,302	16,084
Charge-offs		(33,266)	(23,655)	(15,198)
Recoveries		4,166	4,175	3,237
Balance at end of year		31,818	27,086	23,264
Non-PCD | Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	65,363	73,485	69,848	65,363
Provision for (recapture of) credit losses		49,514	22,294	16,016
Charge-offs		(61,651)	(43,764)	(32,662)
Recoveries		26,334	25,107	21,131
Balance at end of year		87,682	73,485	69,848
PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	23,872	8,496	10,832	23,872
Provision for (recapture of) credit losses		(5,175)	(1,488)	(18,010)
Charge-offs		(1,170)	(3,902)	(2,250)
Recoveries		3,003	3,054	7,220
Balance at end of year		5,154	8,496	10,832
PCD | Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	4,508	1,113	1,388	4,508
Provision for (recapture of) credit losses		(935)	901	(6,855)
Charge-offs		(967)	(2,794)	(69)
Recoveries	1,100	1,411	1,618	3,804
Balance at end of year		622	1,113	1,388
PCD | Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	19,018	7,351	9,359	19,018
Provision for (recapture of) credit losses		(3,985)	(2,389)	(10,629)
Charge-offs		(178)	(317)	(1,695)
Recoveries		1,326	698	2,665
Balance at end of year		4,514	7,351	9,359
PCD | Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	34	7	14	34
Provision for (recapture of) credit losses		(58)	518	62
Charge-offs		0	(621)	(176)
Recoveries		62	96	94
Balance at end of year		11	7	14
PCD | Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 312	25	71	312
Provision for (recapture of) credit losses		(197)	(518)	(588)
Charge-offs		(25)	(170)	(310)
Recoveries		204	642	657
Balance at end of year		$ 7	$ 25	$ 71

FORECLOSED REAL ESTATE (Details

FORECLOSED REAL ESTATE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Real Estate Owned Activity [Roll Forward]
Foreclosed real estate beginning balance	$ 10,780	$ 11,214	$ 15,039
Additions	3,497	10,216	7,872
Sales	(11,894)	(13,880)	(16,855)
Decline in value	(720)	(1,152)	(1,256)
Other adjustments	2,339	4,383	6,414
Foreclosed real estate end balance	$ 4,002	$ 10,780	$ 11,214

PREMISES AND EQUIPMENT (Schedul

PREMISES AND EQUIPMENT (Schedule of Premises and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 197,852	$ 179,993
Less: accumulated depreciation and amortization	(93,340)	(75,891)
Total premises and equipment, net	104,512	104,102
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	4,031	4,031
Buildings and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 77,267	76,542
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	20 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	40 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 23,176	19,145
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	10 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 23,591	21,377
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	3 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	10 years
Information technology and other
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 69,787	$ 58,898
Information technology and other | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	3 years
Information technology and other | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	7 years

PREMISES AND EQUIPMENT (Narrati

PREMISES AND EQUIPMENT (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 20.9	$ 20.4	$ 15.8

SERVICING ASSETS (Narrative) (D

SERVICING ASSETS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Servicing Assets at Fair Value [Line Items]
Carrying value of mortgage servicing asset	$ 70,435	$ 49,520
Servicing assets	70,435	49,520	$ 50,921	$ 48,973
Servicing fees on mortgage loans	3,090	3,120	3,222
Conventional Mortgage Loan
Servicing Assets at Fair Value [Line Items]
Servicing fees on mortgage loans	19,900	$ 19,000	$ 20,300
Mortgage loans held for sale
Servicing Assets at Fair Value [Line Items]
Carrying value of mortgage servicing asset	1,700,000
Servicing assets	$ 21,400

SERVICING ASSETS (Changes in Se

SERVICING ASSETS (Changes in Serving Rights at Fair Value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at beginning of year	$ 49,520	$ 50,921	$ 48,973
Acquired servicing rights	21,427	0
Servicing from mortgage securitization or asset transfers	1,737	2,560	3,998
Changes due to payments on loans	(3,979)	(4,163)	(5,312)
Changes in fair value due to changes in valuation model inputs or assumptions	1,730	202	3,262
Fair value at end of year	$ 70,435	$ 49,520	$ 50,921

SERVICING ASSETS (Key Economic

SERVICING ASSETS (Key Economic Assumptions) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Minimum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	1.09%	1.35%	3.43%
Discount rate	10%	10%	10%
Maximum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	15.28%	17.34%	21.20%
Discount rate	15.50%	15.50%	15.50%

SERVICING ASSETS (Sensitivity o

SERVICING ASSETS (Sensitivity of Current Fair Value of Servicing Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Transfers and Servicing [Abstract]
Carrying value of mortgage servicing asset	$ 70,435	$ 49,520
Weighted average life (in years)	7 years 10 months 24 days	7 years 3 months 18 days
Constant prepayment rate - Decrease in fair value due to 10% adverse change	$ (1,276)	$ (928)
Constant prepayment rate - Decrease in fair value due to 20% adverse change	(2,505)	(1,821)
Discount rate - Decrease in fair value due to 10% adverse change	(3,103)	(1,999)
Discount rate - Decrease in fair value due to 20% adverse change	$ (5,966)	$ (3,856)

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 84,241	$ 84,241
Goodwill, Ending Balance	84,241	84,241
Banking
Goodwill [Roll Forward]
Goodwill, Beginning Balance	84,063	84,063
Goodwill, Ending Balance	84,063	84,063
Wealth Management
Goodwill [Roll Forward]
Goodwill, Beginning Balance	178	178
Goodwill, Ending Balance	178	178
Treasury
Goodwill [Roll Forward]
Goodwill, Beginning Balance	0	0
Goodwill, Ending Balance	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Increase (decrease) in carrying amount of goodwill	$ 0	$ 0	$ 0	$ 0
Accumulated impairment losses	$ 0	$ 0	0	0
Impairment of goodwill			0	0
Intangible asset impairment			0
Amortization of intangible assets			$ 5,912	$ 6,899	$ 8,500

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Core Deposit, Customer Relationship and Other Intangibles) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 54,200	$ 54,200
Accumulated Amortization	39,418	33,506
Net Carrying Value	14,782	20,694
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	41,507	41,507
Accumulated Amortization	30,187	25,659
Net Carrying Value	11,320	15,848
Customer relationship intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,693	12,693
Accumulated Amortization	9,231	7,847
Net Carrying Value	$ 3,462	$ 4,846

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS (Estimated Amortization of Other Intangible Assets) (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 4,928
2026	3,942
2027	2,956
2028	1,971
2029	$ 985

ACCRUED INTEREST RECEIVABLE A_3

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Schedule of Accrued Interest Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 71,667	$ 71,400
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	60,864	63,526
Investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 10,803	$ 7,874

ACCRUED INTEREST RECEIVABLE A_4

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other assets [Line Items]
Prepaid expenses	$ 72,093	$ 63,040
Prepaid municipal, property, and income taxes	62,200	54,700
Other repossessed assets	6,595	4,032
COVID-19 and Hurricane Fiona Deferral Program Loans
Other assets [Line Items]
Accrued interest receivable	18,100	20,200
COVID-19 and Hurricane Fiona Deferral Program Loans | Accrued Income Receivable
Other assets [Line Items]
Allowance for credit losses	68	85
COVID-19 and Hurricane Fiona Deferral Program Loans | Current
Other assets [Line Items]
Accrued interest receivable	$ 16,300	$ 18,200

ACCRUED INTEREST RECEIVABLE A_5

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Other Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accrued Interest Receivable and Other Assets [Abstract]
Prepaid expenses	$ 72,093	$ 63,040
Other repossessed assets	6,595	4,032
Accounts receivable and other assets	70,191	47,859
Other assets	$ 148,879	$ 114,931

DEPOSITS AND RELATED INTEREST_2

DEPOSITS AND RELATED INTEREST (Deposits by Components) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deposits and Related Interest [Abstract]
Non-interest-bearing demand deposits	$ 2,493,860	$ 2,537,431
Interest-bearing savings and demand deposits	5,198,462	5,601,099
Retail certificates of deposit	1,170,560	1,083,316
Institutional certificates of deposit	585,829	378,143
Total core deposits	9,448,711	9,599,989
Brokered deposits	156,075	162,180
Total deposits	$ 9,604,786	$ 9,762,169

DEPOSITS AND RELATED INTEREST_3

DEPOSITS AND RELATED INTEREST (Narrative) (Details) $ in Thousands	Dec. 31, 2024 USD ($) client	Dec. 31, 2023 USD ($)
Deposits and Related Interest [Line Items]
Uninsured deposits	$ 4,915,000	$ 4,885,000
Deposits percent	51.17%	50.04%
Weighted average interest rate of deposits	1.56%	0.88%
Time deposits in denominations in excess of $250,000	$ 1,049,000	$ 747,200
Deposits	9,604,786	9,762,169
Public funds collateral investments	1,507,000	1,645,000
Accrued interest on time deposits	3,100	3,000
Overdrafts in demand deposit accounts	3,200	564
Commercial loans
Deposits and Related Interest [Line Items]
Overdrafts in demand deposit accounts	$ 2,500
Number of commercial clients | client	2
Puerto Rico | Government
Deposits and Related Interest [Line Items]
Deposits	$ 1,445,000	$ 1,618,000

DEPOSITS AND RELATED INTEREST_4

DEPOSITS AND RELATED INTEREST (Interest Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deposits and Related Interest [Abstract]
Demand and savings deposits	$ 101,733	$ 48,722	$ 24,261
Certificates of deposit	48,547	27,243	7,978
Total	$ 150,280	$ 75,965	$ 32,239

DEPOSITS AND RELATED INTEREST_5

DEPOSITS AND RELATED INTEREST (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Year-end amount, Within One Year
Three months or less	$ 645,919	$ 457,533
Over 3 months through 6 months	293,693	195,902
Over 6 months through 1 year	492,799	329,758
Within one year	1,432,411	983,193
Year-end amount, after one year:
Over 1 through 2 years	340,176	467,348
Over 2 through 3 years	63,044	94,450
Over 3 through 4 years	39,462	29,514
Over 4 through 5 years	33,549	45,575
Over 5 years	722	608
Certificates of deposit	1,909,364	1,620,688
Uninsured amount, within one year:
Three months or less	336,912	115,392
Over 3 months through 6 months	99,596	61,245
Over 6 months through 1 year	201,877	113,524
Within one year	638,385	290,161
Uninsured amount, after one year:
Over 1 through 2 years	95,690	201,478
Over 2 through 3 years	9,017	13,971
Over 3 through 4 years	4,176	1,379
Over 4 through 5 years	4,084	4,665
Over 5 years	115	0
Uninsured amount	$ 751,467	$ 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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Additional borrowing capacity	$ 383,100	$ 446,000
Weighted average period remaining maturity of FHLB advances	4 months	1 year 2 months 12 days
Advances from the FHLB
Debt Instrument [Line Items]
Accrued interest payable	$ 952	$ 768
Advances from the FHLB | Asset Pledged as Collateral
Debt Instrument [Line Items]
Total loans	$ 1,100,000	$ 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	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Advances from the FHLB	$ 325,952	$ 200,768
Advances from the FHLB
Debt Instrument [Line Items]
Advances from the FHLB	325,000	200,000
Advances from the FHLB | Over 90 days to one year
Debt Instrument [Line Items]
Advances from the FHLB	270,000	0
Advances from the FHLB | Over one to three years
Debt Instrument [Line Items]
Advances from the FHLB	55,000	200,000
Federal Loan Home Bank Advances Short Term Period | Advances from the FHLB
Debt Instrument [Line Items]
Advances from the FHLB	270,000	$ 0
Weighted average interest rate of FHLB advances		4.56%
Long-Term Fixed-Rate Advances from FHLB | Advances from the FHLB
Debt Instrument [Line Items]
Advances from the FHLB	$ 55,000	$ 200,000
Weighted average interest rate of FHLB advances	3.79%	4.52%

BORROWINGS AND RELATED INTERE_5

BORROWINGS AND RELATED INTEREST (OFG’s Repurchase Agreements, Excluding Accrued Interest) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Securities sold under agreements to repurchase	$ 75,222	$ 0
FNMA and FHLMC Certificates
Debt Instrument [Line Items]
Amortized Cost of Underlying Securities	81,409
Securities sold under agreements to repurchase	75,000
Approximate Fair Value of Underlying Securities	$ 80,968
Weighted Average Interest Rate of Security	5.25%
Securities Sold under Agreements to Repurchase
Debt Instrument [Line Items]
Accrued interest payable	$ 222
Securities sold under agreements to repurchase		$ 0
Securities Sold under Agreements to Repurchase | Under 90 days
Debt Instrument [Line Items]
Securities sold under agreements to repurchase	75,000
Securities Sold under Agreements to Repurchase | Short-term Fixed-rate Repurchase Agreements
Debt Instrument [Line Items]
Securities sold under agreements to repurchase	$ 75,000
Weighted Average Interest Rate of Security	4.63%

OFFSETTING OF FINANCIAL ASSET_3

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Offsetting Liabilities) (Details) - Securities Sold Under Agreements To Repurchase $ in Thousands	Dec. 31, 2024 USD ($)
Offsetting Liabilities [Line Items]
Gross Amount of Recognized Liabilities	$ 75,000
Gross Amounts Offset in the Statement of Financial Condition	0
Net Amount of Liabilities Presented in Statement of Financial Condition	75,000
Financial Instruments	80,968
Cash Collateral Provided	0
Net Amount	$ (5,968)

EMPLOYEE BENEFIT PLANS (Narrati

EMPLOYEE BENEFIT PLANS (Narrative) (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) plan	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of profit-sharing plans | plan	3
Amount of employer match	$ 0.50
Employer matching contribution, percent of match	8%
Cash contributions	$ 2,900,000	$ 2,700,000	$ 2,400,000
Vesting service period (in years)	3 years
Puerto Rico Profit Sharing Plan
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contributions per employee	$ 20,000
US and USVI Profit Sharing Plans
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contributions per employee	$ 23,000

RELATED PARTY TRANSACTIONS (Act

RELATED PARTY TRANSACTIONS (Activity and Balance of Related Party Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Notes Receivable, Related Parties [Roll Forward]
Balance at the beginning of year	$ 7,373,273
Balance at the end of year	7,616,099	$ 7,373,273
Related Party
Notes Receivable, Related Parties [Roll Forward]
Balance at the beginning of year	27,483	32,792	$ 25,915
New loans and disbursements	1	507	9,706
Repayments	(507)	(5,816)	(2,829)
Credits of persons no longer considered related parties	(26,639)	0	0
Balance at the end of year	$ 338	$ 27,483	$ 32,792

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Professional services purchased from related party	$ 3,200	$ 3,300	$ 4,300
Equity Investment Commitment
Related Party Transaction [Line Items]
Commitment amount	3,000	3,000
Subsidiaries | Equity Investment Commitment
Related Party Transaction [Line Items]
Investment in partnership	$ 2,500	$ 2,500

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Examination [Line Items]
Tax-exempt interest income	$ 29,500	$ 28,600	$ 26,300
Effective tax rate (as a percent)	21.90%	31.43%	31.90%
Unrecognized tax benefits	$ 1,000	$ 936
Unrecognized tax benefits, income tax penalties and interest accrued	69	69
Net increase in unrecognized tax benefit	69
Deferred tax liabilities, net	34,470	17,521
Deferred tax liability, valuation allowance	694	569
Valuation allowance	5,421	7,589
Deferred tax asset, net	6,200	4,900
Increase (decrease) in valuation allowance	(2,200)
Operating loss carryforwards	4,900
Operating loss carryforwards, valuation allowance	4,700
Deferred tax liabilities, net	40,718	22,444
Valuation allowance of deferred income tax assets, net	$ 4,700	7,000
Puerto Rico
Income Tax Examination [Line Items]
Statutory tax rate (as a percent)	37.50%
International Banking Entity
Income Tax Examination [Line Items]
Tax-exempt interest income	$ 9,100	$ 3,900	$ 4,400

INCOME TAXES (Components of Inc

INCOME TAXES (Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Current income tax expense	$ 34,017	$ 16,027	$ 16,740
Deferred income tax expense	21,561	67,349	61,126
Total income tax expense	$ 55,578	$ 83,376	$ 77,866

INCOME TAXES (Effective Income

INCOME TAXES (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax expense at statutory rates	$ 95,156	$ 99,468	$ 91,539
Tax of exempt income, net	(14,485)	(12,201)	(11,523)
Disallowed expense and net operating loss carryover	234	(350)	(267)
Change in valuation allowance	(2,168)	(1,554)	(502)
Unrecognized tax benefits, net	69	69	69
Capital gain (loss) at preferential rate	5	472	(787)
Tax rate difference (ordinary vs capital)	23	(817)	(247)
Preferential tax treatment on qualified investment activities	(16,021)	0	0
Return to provision adjustments	(2,083)	(721)	(407)
Stock-based compensation windfall	(1,232)	0	0
Difference in tax rates due to multiple jurisdictions	(1,929)	(963)	0
Tax credits	(1,667)	0	0
Other items, net	(324)	(27)	(9)
Total income tax expense	$ 55,578	$ 83,376	$ 77,866
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income tax expense at statutory rates	37.50%	37.50%	37.50%
Tax of exempt income, net	(5.71%)	(4.60%)	(4.72%)
Disallowed expense and net operating loss carryover	0.09%	(0.13%)	(0.11%)
Change in valuation allowance	(0.85%)	(0.59%)	(0.21%)
Unrecognized tax benefits, net	0.03%	0.03%	0.03%
Capital gain (loss) at preferential rate	0%	0.18%	(0.32%)
Tax rate difference (ordinary vs capital)	0.01%	(0.31%)	(0.10%)
Preferential tax treatment on qualified investment activities	(6.31%)	0%	0%
Return to provision adjustments	(0.82%)	(0.27%)	(0.17%)
Stock-based compensation windfall	(0.49%)	0%	0%
Difference in tax rates due to multiple jurisdictions	(0.76%)	(0.36%)	0%
Tax credits	(0.66%)	0%	0%
Other items, net	(0.13%)	(0.02%)	0%
Income tax expense	21.90%	31.43%	31.90%

INCOME TAXES (Reconciliation of

INCOME TAXES (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 936	$ 867	$ 798
Additions for tax positions of prior years	69	69	69
Balance at end of year	$ 1,005	$ 936	$ 867

INCOME TAXES (Components of Def

INCOME TAXES (Components of Deferred Tax Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Allowance for credit losses and other reserves	$ 62,913	$ 58,612
Scotiabank PR discount	0	463
Loans and other real estate valuation adjustment	1,211	1,905
Deferred loan charge-offs	4,523	16,147
Net operating loss carry forwards	4,878	6,548
Alternative minimum tax	13,822	13,553
Unrealized net loss on available-for-sale securities	16,125	11,525
Goodwill	0	3,542
Acquired portfolio	29,620	37,374
Other assets allowances	2,022	1,692
Other deferred tax assets	21,470	16,344
Total gross deferred tax asset	156,584	167,705
Less: valuation allowance	(5,421)	(7,589)
Net gross deferred tax assets	151,163	160,116
Deferred tax liabilities:
Acquired loans tax basis	(137,022)	(137,143)
Servicing asset	(23,359)	(15,516)
Building valuation adjustment	(5,668)	(6,104)
FDIC-assisted Eurobank acquisition, net	(5,062)	(5,481)
Customer deposit and customer relationship intangibles	(2,981)	(4,943)
Goodwill	(3,167)	0
Scotiabank PR discount	(980)	0
Other deferred tax liabilities	(7,394)	(8,450)
Total gross deferred tax liabilities	(185,633)	(177,637)
Deferred tax asset, net	6,200	4,900
Deferred tax liability valuation allowance	694	569
Deferred tax liabilities, net	$ (34,470)	$ (17,521)

REGULATORY CAPITAL REQUIREMEN_3

REGULATORY CAPITAL REQUIREMENTS (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
OFG Bancorp
Amount
Actual - Total capital to risk-weighted assets	$ 1,367,692	$ 1,278,537
Actual - Tier 1 capital to risk-weighted assets	1,256,906	1,174,205
Actual - Common equity tier 1 capital to risk-weighted assets	1,256,906	1,174,205
Actual - Tier 1 capital to average total assets	1,256,906	1,174,205
Minimum Capital Requirement - Total capital to risk-weighted assets	925,305	873,369
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	749,056	707,013
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	616,870	582,246
Minimum Capital Requirement - Tier 1 capital to average total assets	460,138	425,911
Minimum to be Well Capitalized - Total capital to risk-weighted assets	881,242	831,780
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	704,994	665,424
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	572,807	540,657
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 575,172	$ 532,389
Ratio
Actual - total capital to risk-weighted assets	0.1552	0.1537
Actual - Tier 1 capital to risk-weighted assets	0.1426	0.1412
Actual - Common equity tier 1 capital to risk-weighted assets	0.1426	0.1412
Actual - Tier 1 capital to average total assets	0.1093	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	$ 1,301,684	$ 1,179,164
Actual - Tier 1 capital to risk-weighted assets	1,191,547	1,075,487
Actual - Common equity tier 1 capital to risk-weighted assets	1,191,547	1,075,487
Actual - Tier 1 capital to average total assets	1,191,547	1,075,487
Minimum Capital Requirement - Total capital to risk-weighted assets	919,781	867,797
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	744,585	702,503
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	613,187	578,532
Minimum Capital Requirement - Tier 1 capital to average total assets	456,144	421,660
Minimum to be Well Capitalized - Total capital to risk-weighted assets	875,982	826,474
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	700,786	661,179
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	569,388	537,208
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 570,179	$ 527,075
Ratio
Actual - total capital to risk-weighted assets	0.1486	0.1427
Actual - Tier 1 capital to risk-weighted assets	0.1360	0.1301
Actual - Common equity tier 1 capital to risk-weighted assets	0.1360	0.1301
Actual - Tier 1 capital to average total assets	0.1045	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

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLAN (Equity-Based Compensation Plan) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number Of Options
Number of options - Beginning of period (in shares)	16,600	234,950	338,494
Number of options - Options exercised (in shares)	(15,200)	(218,350)	(103,544)
Number of options - End of period (in shares)	1,400	16,600	234,950
Weighted Average Exercise Price
Weighted Average Exercise Price - Beginning of period (in dollars per share)	$ 16.92	$ 16.38	$ 15.76
Weighted Average Exercise Price - Options exercised (in dollars per share)	16.88	16.34	14.34
Weighted Average Exercise Price - End of period (in dollars per share)	$ 17.44	$ 16.92	$ 16.38

STOCK-BASED COMPENSATION PLAN_3

STOCK-BASED COMPENSATION PLAN (Range of Exercise Prices and Weighted Average Remaining Contractual Life) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options, outstanding (in shares)	1,400	16,600	234,950	338,494
Aggregate intrinsic value, outstanding	$ 34,832
Weighted average exercise price, outstanding (in dollars per share)	$ 17.44	$ 16.92	$ 16.38	$ 15.76
Aggregate intrinsic value, exercisable	$ 34,832
16.91 to 19.71
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, minimum (in dollars per share)	$ 16.91
Range of exercise prices, maximum (in dollars per share)	$ 19.71
Number of options, outstanding (in shares)	1,400
Weighted average exercise price, outstanding (in dollars per share)	$ 17.44
Weighted average contractual life remaining, outstanding (in years)	2 months 12 days
Number of options, exercisable (in shares)	1,400
Weighted average exercise price, exercisable (in dollars per share)	$ 17.44

STOCK-BASED COMPENSATION PLAN_4

STOCK-BASED COMPENSATION PLAN (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of options granted (in shares)	0	0	0
Total unrecognized compensation cost related to non-vested restricted units	$ 7.2
Weighted-average period of recognition for total unrecognized compensation cost related to non-vested restricted units (in years)	1 year 9 months 18 days

STOCK-BASED COMPENSATION PLAN_5

STOCK-BASED COMPENSATION PLAN (Schedule of the Restricted Units' Activity Under the Omnibus Plan) (Details) - Omnibus Plan - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Units
Beginning of year (in shares)	410,997	408,832	511,740
Restricted units granted (in shares)	290,193	204,048	178,281
Restricted units lapsed (in shares)	(268,406)	(181,692)	(277,866)
Restricted units forfeited (in shares)	(54,494)	(20,191)	(3,323)
End of year (in shares)	378,290	410,997	408,832
Weighted Average Grant Date Fair Value
Beginning of year (in dollars per share)	$ 25.43	$ 22.27	$ 19.35
Restricted units granted (in dollars per share)	35.57	27.84	27.89
Restricted units lapsed (in dollars per share)	25.31	20.85	17.08
Restricted units forfeited (in dollars per share)	30.17	25.18	22.89
End of year (in dollars per share)	$ 32.61	$ 25.43	$ 22.27

STOCKHOLDERS_ EQUITY (Narrative

STOCKHOLDERS’ EQUITY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 31, 2024	Jan. 31, 2024	Jan. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Common stock	$ 59,885	$ 59,885
Legal surplus	169,537	150,967
Transfer to legal surplus	$ 18,600	$ 17,100	$ 16,200
Shares repurchased during period (in shares)	1,791,414	743,699	2,351,868
Common shares repurchased as part of the stock repurchase programs	$ 70,324	$ 18,653	$ 64,110
Share repurchased, average price per share (in dollars per share)	$ 39.26
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
Stock repurchase program, remaining authorized repurchase amount						$ 17,200
Shares repurchased during period (in shares)		743,699	2,351,868
Common shares repurchased as part of the stock repurchase programs		$ 18,700	$ 64,100
Share repurchased, average price per share (in dollars per share)		$ 25.08	$ 27.26
January 2024 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 50,000
Stock repurchase program, remaining authorized repurchase amount	$ 29,700
Stock repurchase program, remaining number of shares authorized to be repurchased (in shares)	701,236
Share price (in dollars per share)	$ 42.32
October 2024 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount				$ 50,000
Common stock
Equity, Class of Treasury Stock [Line Items]
Accumulated common stock issuance costs charged against paid in capital	$ 13,600	$ 13,600

STOCKHOLDERS_ EQUITY (Activity

STOCKHOLDERS’ EQUITY (Activity of Common Shares Held in Treasury) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Shares
Beginning of period (in shares)	12,820,078	12,303,859	10,248,882
Common shares used upon lapse of restricted stock units and options (in shares)	(166,527)	(227,480)	(296,891)
Common shares repurchased as part of the stock repurchase programs (in shares)	1,791,414	743,699	2,351,868
End of period (in shares)	14,444,965	12,820,078	12,303,859
Dollar Amount
Beginning of period	$ 228,350	$ 211,135	$ 150,572
Common shares used upon lapse of restricted stock units and options	(1,683)	(1,438)	(3,547)
Common shares repurchased as part of the stock repurchase programs	70,324	18,653	64,110
End of period	$ 296,991	$ 228,350	$ 211,135

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Accumulated Comprehensive Income, Net of Income Tax) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of income taxes			$ (89,839)	$ (67,013)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of income taxes			(89,839)	(67,013)
Net unrealized loss on securities available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss on securities available-for-sale	$ (78,497)		(105,930)
Income tax effect of unrealized loss on securities available-for-sale		$ 11,484	16,091
Net unrealized loss on securities available-for-sale			$ (89,839)	$ (67,013)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 1,193,480	$ 1,042,406
Other comprehensive (loss) income before reclassifications		22,145	$ (99,063)
Amounts reclassified out of accumulated other comprehensive loss		4,251	494
Other comprehensive income (loss)		26,396	(98,569)
Balance at end of period	1,254,371	1,193,480	1,042,406
Accumulated other comprehensive loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(67,013)	(93,409)	5,160
Balance at end of period	(89,839)	(67,013)	(93,409)
Net unrealized loss on securities available-for-sale
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(67,013)	(93,663)	5,663
Other comprehensive (loss) income before reclassifications		27,792	(99,087)
Amounts reclassified out of accumulated other comprehensive loss		(1,142)	(239)
Other comprehensive income (loss)	(22,826)	26,650	(99,326)
Balance at end of period	(89,839)	(67,013)	(93,663)
Net unrealized gain on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 0	254	(503)
Other comprehensive (loss) income before reclassifications		(5,647)	24
Amounts reclassified out of accumulated other comprehensive loss		5,393	733
Other comprehensive income (loss)		(254)	757
Balance at end of period		$ 0	$ 254

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE LOSS (Reclassifications Out of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net interest expense	$ 588,440	$ 560,870	$ 482,080
Income tax expense	55,578	83,376	77,866
Net income	198,170	181,872	166,239
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net loss on sale of securities			(247)
Net income	0	4,251	494
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized loss on securities available-for-sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net loss on sale of securities	(7)	(1,149)
Income tax expense	7	7	8
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	$ 5,393	$ 733

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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 198,170	$ 181,872	$ 166,239
Average common shares outstanding (in shares)	46,637	47,258	48,033
Average potential common shares-options (in shares)	265	294	403
Total weighted average common shares outstanding and equivalents (in shares)	46,902	47,552	48,436
Earnings per common share - basic (in dollars per share)	$ 4.25	$ 3.85	$ 3.46
Earnings per common share - diluted (in dollars per share)	$ 4.23	$ 3.83	$ 3.44

EARNINGS PER COMMON SHARE (Narr

EARNINGS PER COMMON SHARE (Narrative) (Details) - $ / shares	3 Months Ended			12 Months Ended
	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Weighted average stock options with an anti dilutive effect excluded from calculation of earnings per share (in shares)				1,220	8,695	1,279
Quarterly common stock cash dividend (in dollars per share)	$ 0.25	$ 0.25	$ 0.22	$ 1	$ 0.88	$ 0.70

GUARANTEES (Narrative) (Details

GUARANTEES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Guarantor Obligations [Line Items]
Acquired standby letters of credit and financial guarantees	$ 25,300	$ 24,000
Repurchased loans not subject to credit recourse provision	6,100	9,600
Early extinguishment of debt	0	0	$ 42
Amount of serviced loans	5,600,000	5,600,000
Funds advanced to investors under servicing agreements	5,000	4,200
Recourse
Guarantor Obligations [Line Items]
Loans sold with recourse	90,464	98,685
Liability for estimated credit losses to loans sold with credit recourse	155	102
Repurchased GNMA	455	1,200	1,500
Repurchased loans not subject to credit recourse provision			24,200
Early extinguishment of debt	(53)	220	148
Nonrecourse
Guarantor Obligations [Line Items]
Early extinguishment of debt	(659)	678	$ (281)
Nonrecourse | Loan serviced under representation warranties
Guarantor Obligations [Line Items]
Loans sold with recourse	$ 562	$ 405

GUARANTEES (Changes in Liabilit

GUARANTEES (Changes in Liability of Estimated Loss from Credit Recourse Agreement) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Balance at beginning of year	$ 102	$ 147	$ 294
Net recoveries (charge-offs/terminations)	53	(45)	(147)
Balance at end of year	$ 155	$ 102	$ 147

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Credit-Related Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Commitments to extend credit	$ 1,360,351	$ 1,255,695
Commercial letters of credit	1,096	119
Standby letters of credit and financial guarantees	25,321	23,970
Recourse
Other Commitments [Line Items]
Loans sold with recourse	$ 90,464	$ 98,685

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Allowance for credit losses for off-balance sheet	$ 878	$ 1,200
Other non-credit commitments	14,600	18,900
Legal Contingencies
Other Commitments [Line Items]
Contingency loss accrued liability	407	817
Potential Losses, Operational Errors, Theft and Uncollectible Receivables
Other Commitments [Line Items]
Contingency loss accrued liability	64	1,400
Technology Commitments
Other Commitments [Line Items]
Commitments for capital expenditures in technology	$ 953	$ 7,800

OPERATING LEASES (Operating Lea

OPERATING LEASES (Operating Lease Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee Disclosure [Abstract]
Lease costs	$ 9,474	$ 10,414	$ 10,467
Variable lease costs	1,697	1,452	1,529
Short-term lease costs	384	529	565
Lease income	(77)	(123)	(226)
Total lease costs	$ 11,478	$ 12,272	$ 12,335

OPERATING LEASES (Operating L_2

OPERATING LEASES (Operating Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Right-of-use assets	$ 19,197	$ 21,725
Lease Liabilities	$ 21,388	$ 24,029

OPERATING LEASES (Operating L_3

OPERATING LEASES (Operating Lease Terms) (Details)	Dec. 31, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Weighted-average remaining lease term (in years)	4 years 9 months 18 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	Dec. 31, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
2025	$ 7,434
2026	5,265
2027	4,331
2028	3,239
2029	1,848
Thereafter	3,535
Total lease payments	25,652
Less imputed interest	4,264
Present value of lease liabilities	$ 21,388	$ 24,029

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Narrative) (Details) $ in Thousands	Dec. 31, 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	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 18	$ 13
Money market investments	6,670	4,623	$ 4,161
Servicing assets	70,435	49,520	50,921	$ 48,973
Foreclosed real estate	4,002	10,780	$ 11,214	$ 15,039
Other repossessed assets	6,595	4,032
Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	2,338,205	2,099,264
Trading securities	18	13
Money market investments	6,670	4,623
Servicing assets	70,435	49,520
Total	2,415,328	2,153,420
Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	6,877	8,027
Foreclosed real estate	4,002	10,780
Other repossessed assets	6,595	4,032
Mortgage loans held for sale	13,286
Other loans held for sale	4,446	28,345
Total	35,206	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	1,150	296,799
Trading securities	0	0
Money market investments	6,670	4,623
Servicing assets	0	0
Total	7,820	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	2,337,055	1,802,465
Trading securities	18	13
Money market investments	0	0
Servicing assets	0	0
Total	2,337,073	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	70,435	49,520
Total	70,435	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	6,877	8,027
Foreclosed real estate	4,002	10,780
Other repossessed assets	6,595	4,032
Mortgage loans held for sale	13,286
Other loans held for sale	4,446	28,345
Total	$ 35,206	$ 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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
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 included in earnings	Gains included in earnings
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain (Loss) Statement Of Other Comprehensive Income Extensible List Not Disclosed Flag	Gains included in other comprehensive income	Gains included in other comprehensive income
Level 3 | Recurring fair value measurements
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year	$ 49,520	$ 51,327	$ 50,503
New instruments acquired		2,560	4,374
Principal repayments and amortization		(4,163)	(5,312)
Instrument converted to equity security		(406)	(1,581)
Gains (losses) included in earnings		202	3,262
Gains included in other comprehensive income		0	81
Balance at end of year		49,520	51,327
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 year	0	406	1,530
New instruments acquired		0	376
Principal repayments and amortization		0	0
Instrument converted to equity security		(406)	(1,581)
Gains (losses) included in earnings		0	0
Gains included in other comprehensive income		0	81
Balance at end of year		0	406
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 year	49,520	50,921	48,973
New instruments acquired	23,164	2,560	3,998
Principal repayments and amortization	(3,979)	(4,163)	(5,312)
Instrument converted to equity security	0	0	0
Gains (losses) included in earnings	1,730	202	3,262
Gains included in other comprehensive income	0	0	0
Balance at end of year	$ 70,435	$ 49,520	$ 50,921

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Qualitative Information for Assets and Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value
Servicing assets	$ 70,435	$ 49,520	$ 50,921	$ 48,973
Foreclosed real estate	4,002	10,780	$ 11,214	$ 15,039
Other repossessed assets	6,595	4,032
Recurring fair value measurements
Fair Value
Servicing assets	$ 70,435	$ 49,520
Minimum
Unobservable Input
Constant prepayment rate	1.09%	1.35%	3.43%
Discount rate	10%	10%	10%
Maximum
Unobservable Input
Constant prepayment rate	15.28%	17.34%	21.20%
Discount rate	15.50%	15.50%	15.50%
Mortgage loans held for sale
Fair Value
Servicing assets	$ 21,400
Level 3 | Recurring fair value measurements
Fair Value
Servicing assets	70,435	$ 49,520
Level 3 | Servicing Assets | Cash flow valuation
Fair Value
Servicing assets	$ 70,435	$ 49,520
Level 3 | Servicing Assets | Cash flow valuation | Minimum
Unobservable Input
Constant prepayment rate	1.09%	1.35%
Discount rate	10%	10%
Level 3 | Servicing Assets | Cash flow valuation | Maximum
Unobservable Input
Constant prepayment rate	15.28%	17.34%
Discount rate	15.50%	15.50%
Level 3 | Servicing Assets | Cash flow valuation | Weighted Average
Unobservable Input
Constant prepayment rate	5.83%	6.12%
Discount rate	11.61%	11.45%
Level 3 | Collateral dependent loans | Fair value of property or collateral
Fair Value
Collateral dependent loans	$ 6,877	$ 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	18.14%	17%
Level 3 | Foreclosed real estate | Fair value of property or collateral
Fair Value
Foreclosed real estate	$ 4,002	$ 10,780
Level 3 | Foreclosed real estate | Fair value of property or collateral | Minimum
Unobservable Input
Appraised value less disposition costs	10.20%	10.20%
Level 3 | Foreclosed real estate | Fair value of property or collateral | Maximum
Unobservable Input
Appraised value less disposition costs	33.20%	33.20%
Level 3 | Foreclosed real estate | Fair value of property or collateral | Weighted Average
Unobservable Input
Appraised value less disposition costs	13.16%	12.67%
Level 3 | Other repossessed assets | Fair value of property or collateral
Fair Value
Other repossessed assets	$ 6,595	$ 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	69%	77%
Level 3 | Other repossessed assets | Fair value of property or collateral | Weighted Average
Unobservable Input
Estimated net realizable value	54.73%	57.72%
Level 3 | Mortgage loans held for sale | Fair value of property or collateral
Fair Value
Mortgage loans held for sale	$ 13,286
Level 3 | Mortgage loans held for sale | Fair value of property or collateral | Minimum
Unobservable Input
Estimated net realizable value	89.38%
Level 3 | Mortgage loans held for sale | Fair value of property or collateral | Maximum
Unobservable Input
Estimated net realizable value	101.38%
Level 3 | Mortgage loans held for sale | Fair value of property or collateral | Weighted Average
Unobservable Input
Estimated net realizable value	95.01%
Level 3 | Other loans held for sale | Bids or sales contract prices
Fair Value
Other loans held for sale	$ 4,446	$ 28,345
Level 3 | Other loans held for sale | Bids or sales contract prices | Minimum
Unobservable Input
Estimated market value	101.21%	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	101.21%	84.80%

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Estimated Fair Value and Carrying Value) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial Assets:
Trading securities	$ 18	$ 13
Investment securities held-to-maturity	267,174	490,764
Servicing assets	70,435	49,520	$ 50,921	$ 48,973
Level 1 | Fair Value
Financial Assets:
Cash and cash equivalents	591,137	748,173
Investment securities available-for-sale	1,150	296,799
Level 1 | Carrying Value
Financial Assets:
Cash and cash equivalents	591,137	748,173
Investment securities available-for-sale	1,150	296,799
Level 2 | Fair Value
Financial Assets:
Trading securities	18	13
Investment securities available-for-sale	2,337,055	1,802,465
Investment securities held-to-maturity	232,152	455,709
Federal Home Loan Bank (FHLB) stock	24,280	14,488
Equity securities	30,616	23,981
Level 2 | Carrying Value
Financial Assets:
Trading securities	18	13
Investment securities available-for-sale	2,337,055	1,802,465
Investment securities held-to-maturity	292,158	514,024
Federal Home Loan Bank (FHLB) stock	24,280	14,488
Equity securities	30,616	23,981
Level 3 | Fair Value
Financial Assets:
Investment securities held-to-maturity	35,022	35,055
Total loans, net (including loans held-for-sale)	7,567,075	7,282,214
Accrued interest receivable	71,667	71,400
Servicing assets	70,435	49,520
Accounts receivable and other assets	70,191	47,859
Financial Liabilities:
Deposits	9,625,803	9,767,068
Securities sold under agreements to repurchase	75,226	0
Advances from FHLB	324,510	199,184
Other borrowings	0	2
Accrued expenses and other liabilities	146,771	115,985
Level 3 | Carrying Value
Financial Assets:
Investment securities held-to-maturity	35,000	35,000
Total loans, net (including loans held-for-sale)	7,633,831	7,401,618
Accrued interest receivable	71,667	71,400
Servicing assets	70,435	49,520
Accounts receivable and other assets	70,191	47,589
Financial Liabilities:
Deposits	9,604,786	9,762,169
Securities sold under agreements to repurchase	75,222	0
Advances from FHLB	325,952	200,768
Other borrowings	0	2
Accrued expenses and other liabilities	$ 146,771	$ 115,985

BANKING AND FINANCIAL SERVICE_3

BANKING AND FINANCIAL SERVICE REVENUES - Schedule of Commissions and Fees Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Banking service revenues:
Electronic banking fees	$ 52,275	$ 54,109	$ 54,639
Checking accounts fees	8,102	8,924	8,933
Savings accounts fees	1,233	1,334	1,265
Credit life commissions	134	318	724
Branch service commissions	1,323	1,538	1,456
Servicing and other loan fees	3,090	3,120	3,222
International fees	748	720	902
Miscellaneous income	18	15	20
Total banking service revenues	66,923	70,078	71,161
Wealth management revenue:
Insurance income	17,991	17,178	15,084
Broker fees	8,781	7,375	6,793
Trust fees	8,850	8,402	10,013
Other fees	0	35	745
Total wealth management revenue	35,622	32,990	32,635
Mortgage banking activities:
Net servicing fees	17,291	15,077	18,258
Net gains on sale of mortgage loans and valuation	2,026	2,993	3,786
Net (loss) gain on repurchased loans and other	(681)	717	(115)
Total mortgage banking activities	18,636	18,787	21,929
Total banking and financial service revenues	$ 121,181	$ 121,855	$ 125,725

BANKING AND FINANCIAL SERVICE_4

BANKING AND FINANCIAL SERVICE REVENUES - Narrative (Details) $ in Billions	3 Months Ended
	Dec. 31, 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	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Interest income	$ 750,277	$ 648,880	$ 515,573
Interest expense	(161,837)	(88,010)	(33,493)
Net interest income	588,440	560,870	482,080
(Provision for) recapture of credit losses	(82,251)	(60,638)	(24,119)
Non-interest income, net	123,249	128,381	131,690
Non-interest expense:
Compensation and employee benefits	(159,710)	(155,827)	(142,930)
Occupancy, equipment and infrastructure costs	(38,249)
Depreciation and amortization of premises and equipment	(20,874)
Electronic banking charges	(42,816)	(41,336)	(39,554)
Information technology expenses	(27,582)	(27,162)	(21,891)
Professional and service fees	(18,876)	(18,764)	(24,842)
Loan servicing and clearing expenses	(7,935)	(7,774)	(9,161)
Amortization of other intangible assets	(1,385)
Intersegment expenses	0
Other	(58,263)
Total non-interest expense	(375,690)	(363,365)	(345,546)
Income before income taxes	253,748	265,248	244,105
Income tax expense	(55,578)	(83,376)	(77,866)
Net income	198,170	181,872	166,239
Total assets	11,500,734	11,344,453
Expenditures for long-lived assets	21,336
Reportable Segment
Segment Reporting Information [Line Items]
Interest income		648,880	515,573
Interest expense		(88,010)	(33,493)
Net interest income		560,870	482,080
(Provision for) recapture of credit losses		(60,638)	(24,119)
Non-interest income, net		128,381	131,690
Non-interest expense:
Compensation and employee benefits		(155,827)	(142,930)
Occupancy, equipment and infrastructure costs		(38,847)	(35,497)
Depreciation and amortization of premises and equipment		(20,388)	(15,811)
Electronic banking charges		(41,336)	(39,554)
Information technology expenses		(27,162)	(21,891)
Professional and service fees		(18,764)	(24,842)
Loan servicing and clearing expenses		(7,774)	(9,161)
Amortization of other intangible assets		(1,615)	(2,001)
Intersegment expenses		0	0
Other		(51,652)	(53,859)
Total non-interest expense		(363,365)	(345,546)
Income before income taxes		265,248	244,105
Income tax expense		(83,376)	(77,866)
Net income		181,872	166,239
Total assets		11,344,453	9,818,780
Expenditures for long-lived assets		17,857	30,999
Total
Segment Reporting Information [Line Items]
Interest income	754,324	663,314	522,153
Interest expense	(165,884)	(102,444)	(40,073)
Net interest income	588,440	560,870	482,080
(Provision for) recapture of credit losses	(82,251)	(60,638)	(24,119)
Non-interest income, net	123,249	128,381	131,690
Non-interest expense:
Compensation and employee benefits	(159,710)	(155,827)	(142,930)
Occupancy, equipment and infrastructure costs	(38,249)	(38,847)	(35,497)
Depreciation and amortization of premises and equipment	(20,874)	(20,388)	(15,811)
Electronic banking charges	(42,816)	(41,336)	(39,554)
Information technology expenses	(27,582)	(27,162)	(21,891)
Professional and service fees	(18,876)	(18,764)	(24,842)
Loan servicing and clearing expenses	(7,935)	(7,774)	(9,161)
Amortization of other intangible assets	(1,385)	(1,615)	(2,001)
Intersegment expenses	0	0	0
Other	(58,263)	(51,652)	(53,859)
Total non-interest expense	(375,690)	(363,365)	(345,546)
Income before income taxes	253,748	265,248	244,105
Income tax expense	(55,578)	(83,376)	(77,866)
Net income	198,170	181,872	166,239
Total assets	12,740,138	12,496,666	10,803,401
Expenditures for long-lived assets	21,336	17,857	30,999
Total | Banking
Segment Reporting Information [Line Items]
Interest income	619,328	567,809	465,177
Interest expense	(147,661)	(73,480)	(31,926)
Net interest income	471,667	494,329	433,251
(Provision for) recapture of credit losses	(82,436)	(60,255)	(24,111)
Non-interest income, net	86,720	97,099	98,407
Non-interest expense:
Compensation and employee benefits	(149,194)	(147,241)	(132,840)
Occupancy, equipment and infrastructure costs	(37,407)	(38,251)	(34,369)
Depreciation and amortization of premises and equipment	(20,807)	(20,315)	(15,724)
Electronic banking charges	(42,816)	(41,336)	(39,554)
Information technology expenses	(27,394)	(26,946)	(21,669)
Professional and service fees	(15,804)	(15,878)	(21,818)
Loan servicing and clearing expenses	(5,937)	(5,806)	(7,203)
Amortization of other intangible assets	(1,385)	(1,615)	(2,001)
Intersegment expenses	3,518	1,641	2,187
Other	(56,173)	(47,100)	(47,947)
Total non-interest expense	(353,399)	(342,847)	(320,938)
Income before income taxes	122,552	188,326	186,609
Income tax expense	(55,402)	(83,242)	(77,731)
Net income	67,150	105,084	108,878
Total assets	9,513,074	9,154,201	8,347,767
Expenditures for long-lived assets	21,336	17,853	30,982
Total | Wealth Management
Segment Reporting Information [Line Items]
Interest income	26	28	21
Interest expense	0	0	0
Net interest income	26	28	21
(Provision for) recapture of credit losses	0	0	0
Non-interest income, net	36,522	32,433	33,481
Non-interest expense:
Compensation and employee benefits	(9,527)	(7,627)	(9,174)
Occupancy, equipment and infrastructure costs	(721)	(484)	(1,033)
Depreciation and amortization of premises and equipment	(48)	(50)	(58)
Electronic banking charges	0	0	0
Information technology expenses	(187)	(204)	(222)
Professional and service fees	(2,875)	(2,646)	(2,774)
Loan servicing and clearing expenses	(1,455)	(1,417)	(1,396)
Amortization of other intangible assets	0	0	0
Intersegment expenses	(2,121)	(1,011)	(1,497)
Other	(1,720)	(2,999)	(4,549)
Total non-interest expense	(18,654)	(16,438)	(20,703)
Income before income taxes	17,894	16,023	12,799
Income tax expense	(10)	(34)	(97)
Net income	17,884	15,989	12,702
Total assets	34,219	38,261	23,085
Expenditures for long-lived assets	0	2	17
Total | Treasury
Segment Reporting Information [Line Items]
Interest income	134,970	95,477	56,955
Interest expense	(18,223)	(28,964)	(8,147)
Net interest income	116,747	66,513	48,808
(Provision for) recapture of credit losses	185	(383)	(8)
Non-interest income, net	7	(1,151)	(198)
Non-interest expense:
Compensation and employee benefits	(989)	(959)	(916)
Occupancy, equipment and infrastructure costs	(121)	(112)	(95)
Depreciation and amortization of premises and equipment	(19)	(23)	(29)
Electronic banking charges	0	0	0
Information technology expenses	(1)	(12)	0
Professional and service fees	(197)	(240)	(250)
Loan servicing and clearing expenses	(543)	(551)	(562)
Amortization of other intangible assets	0	0	0
Intersegment expenses	(1,397)	(630)	(690)
Other	(370)	(1,553)	(1,363)
Total non-interest expense	(3,637)	(4,080)	(3,905)
Income before income taxes	113,302	60,899	44,697
Income tax expense	(166)	(100)	(38)
Net income	113,136	60,799	44,659
Total assets	3,192,845	3,304,204	2,432,549
Expenditures for long-lived assets	0	2	0
Eliminations
Segment Reporting Information [Line Items]
Interest income	(4,047)	(14,434)	(6,850)
Interest expense	4,047	14,434	6,850
Net interest income	0	0	0
(Provision for) recapture of credit losses	0	0	0
Non-interest income, net	0	0	0
Non-interest expense:
Compensation and employee benefits	0	0	0
Occupancy, equipment and infrastructure costs	0	0	0
Depreciation and amortization of premises and equipment	0	0	0
Electronic banking charges	0	0	0
Information technology expenses	0	0	0
Professional and service fees	0	0	0
Loan servicing and clearing expenses	0	0	0
Amortization of other intangible assets	0	0	0
Intersegment expenses	0	0	0
Other	0	0	0
Total non-interest expense	0	0	0
Income before income taxes	0	0	0
Income tax expense	0	0	0
Net income	0	0	0
Total assets	(1,239,404)	(1,152,213)	(984,621)
Expenditures for long-lived assets	$ 0	$ 0	$ 0

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Time Deposits	$ 1,912,464	$ 1,623,639
Eliminations | Treasury
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Time Deposits	$ 278,400	$ 300,300

OFG BANCORP (HOLDING COMPANY _3

OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Oriental Bank
Subsidiary or Equity Method Investee [Line Items]
Dividends and interest paid	$ 75	$ 45	$ 140
Oriental Reinsurance
Subsidiary or Equity Method Investee [Line Items]
Dividends and interest paid	3.2	4	0
Oriental Insurance
Subsidiary or Equity Method Investee [Line Items]
Dividends and interest paid	$ 9.5	$ 0	$ 9.5

OFG BANCORP (HOLDING COMPANY _4

OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION (Condensed Statements of Financial Information) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and due from banks	$ 584,467	$ 743,550	$ 546,146
Deferred tax assets, net	6,248	4,923
Other assets	148,879	114,931
Total assets	11,500,734	11,344,453
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accrued expenses and other liabilities	146,771	115,985
Total liabilities	10,246,363	10,150,973
Stockholders’ equity	1,254,371	1,193,480	1,042,406
Total liabilities and stockholders’ equity	11,500,734	11,344,453
Parent Company
ASSETS
Cash and due from banks	40,570	73,121	$ 82,045	$ 46,484
Investment in bank subsidiary, equity method	1,188,830	1,094,581
Investment in nonbank subsidiaries, equity method	38,879	40,145
Deferred tax assets, net	231	293
Due from bank subsidiary, net	57	56
Other assets	504	371
Total assets	1,269,071	1,208,567
LIABILITIES AND STOCKHOLDERS’ EQUITY
Dividends payable	11,640	10,355
Accrued expenses and other liabilities	3,051	4,729
Subordinated capital notes	9	3
Total liabilities	14,700	15,087
Stockholders’ equity	1,254,371	1,193,480
Total liabilities and stockholders’ equity	$ 1,269,071	$ 1,208,567

OFG BANCORP (HOLDING COMPANY _5

OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION (Condensed Statement of Operations Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Expenses:
Net income	$ 198,170	$ 181,872	$ 166,239
Parent Company
Income:
Interest income	3,667	3,712	977
Investment trading activities, net and other	9,586	7,040	6,022
Total income	13,253	10,752	6,999
Expenses:
Net interest expense	0	0	521
Operating expenses	9,562	8,230	7,992
Total expenses	9,562	8,230	8,513
Income (loss) before income taxes	3,691	2,522	(1,514)
Income tax expense	3,881	3,846	2,782
Loss before earnings of subsidiaries	(190)	(1,324)	(4,296)
Net income	198,170	181,872	166,239
Bank subsidiary
Expenses:
Net income	185,699	170,658	162,236
Nonbank subsidiaries
Expenses:
Net income	$ 12,661	$ 12,538	$ 8,299

OFG BANCORP (HOLDING COMPANY _6

OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION (Condensed Statement of Comprehensive Income Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Statement of Income Captions [Line Items]
Net income	$ 198,170	$ 181,872	$ 166,239
Other comprehensive (loss) income before tax:
Other comprehensive (loss) income before taxes	(27,433)	31,133	(116,118)
Income tax effect	4,607	(4,737)	17,549
Other comprehensive (loss) income after taxes	(22,826)	26,396	(98,569)
Comprehensive income	175,344	208,268	67,670
Parent Company
Condensed Statement of Income Captions [Line Items]
Net income	198,170	181,872	166,239
Other comprehensive (loss) income before tax:
Other comprehensive (loss) income from bank subsidiary	(22,826)	26,396	(98,569)
Other comprehensive (loss) income before taxes	(22,826)	26,396	(98,569)
Income tax effect	0	0	0
Other comprehensive (loss) income after taxes	(22,826)	26,396	(98,569)
Comprehensive income	$ 175,344	$ 208,268	$ 67,670

OFG BANCORP (HOLDING COMPANY _7

OFG BANCORP (HOLDING COMPANY ONLY) FINANCIAL INFORMATION (Condensed Statement of Cash Flows Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 198,170	$ 181,872	$ 166,239
Adjustments to reconcile net income to net cash provided by operating activities:
Early extinguishment of debt	0	0	(42)
Stock-based compensation	7,170	5,001	4,185
Deferred income tax, net	21,561	67,349	61,126
Net decrease in other assets	(31,339)	4,971	35,371
Net (decrease) increase in accrued expenses and other liabilities	(4,759)	279	(34,151)
Net cash provided by operating activities	252,500	295,657	164,456
Cash flows from investing activities:
Additions to premises and equipment	(21,336)	(17,857)	(30,999)
Net cash used in investing activities	(335,979)	(1,404,745)	(1,512,937)
Cash flows from financing activities:
Subordinated capital notes	0	0	(34,958)
Exercise of stock options and restricted units lapsed, net	(4,368)	(1,689)	(906)
Net cash (used in) provided by financing activities	(73,557)	1,306,797	(124,705)
Net change in cash and cash equivalents	(157,036)	197,709	(1,473,186)
Cash and cash equivalents at beginning of year	743,550	546,146
Cash and cash equivalents at end of year	584,467	743,550	546,146
Parent Company
Cash flows from operating activities:
Net income	198,170	181,872	166,239
Adjustments to reconcile net income to net cash provided by operating activities:
Early extinguishment of debt	0	0	(42)
Stock-based compensation	642	731	652
Deferred income tax, net	62	630	1,703
Net decrease in other assets	5,413	1,270	18,829
Net (decrease) increase in accrued expenses and other liabilities	(1,836)	2,149	(488)
Net cash provided by operating activities	91,796	52,459	165,858
Cash flows from investing activities:
Additions to premises and equipment	(9)	(30)	(233)
Net cash used in investing activities	(4,009)	(30)	(233)
Cash flows from financing activities:
Subordinated capital notes	0	0	(34,958)
Exercise of stock options and restricted units lapsed, net	(4,368)	(1,689)	(906)
Purchase of treasury stock	(70,324)	(18,653)	(64,110)
Dividends paid	(45,646)	(41,011)	(30,090)
Net decrease in due to non-bank subsidiary, net	5	3	0
Net cash (used in) provided by financing activities	(120,338)	(61,353)	(130,064)
Net change in cash and cash equivalents	(32,551)	(8,924)	35,561
Cash and cash equivalents at beginning of year	73,121	82,045	46,484
Cash and cash equivalents at end of year	40,570	73,121	82,045
Bank subsidiary
Cash flows from operating activities:
Net income	185,699	170,658	162,236
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings	(185,699)	(170,658)	(162,236)
Dividends from subsidiary	75,000	45,000	140,000
Nonbank subsidiaries
Cash flows from operating activities:
Net income	12,661	12,538	8,299
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings	(12,661)	(12,538)	(8,299)
Dividends from subsidiary	12,700	4,000	9,500
Cash flows from investing activities:
Capital contribution to non-banking subsidiary	$ (4,000)	$ 0	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	3 Months Ended				12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 29, 2025
Subsequent Event [Line Items]
Quarterly common stock cash dividend (in dollars per share)		$ 0.25	$ 0.25	$ 0.22	$ 1	$ 0.88	$ 0.70
Forecast
Subsequent Event [Line Items]
Quarterly common stock cash dividend (in dollars per share)	$ 0.30
Subsequent Event
Subsequent Event [Line Items]
Percentage Of Increase In Dividend								20%