2,004

(4,453)

3,544

7,688

$ 77,953

77,953

^[1]

(14,624)

(64,110)

(7,688)

Balance at end of year at Jun. 30, 2022

(54,662)

1,014,812

59,885

634,612

125,365

455,590

(211,138)

(49,502)

Balance at beginning of year at Mar. 31, 2022

59,885

633,796

121,389

426,320

(180,717)

(20,638)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

1,031

(215)

211

3,976

40,432

^[1]

(7,186)

(30,632)

(3,976)

Balance at end of year at Jun. 30, 2022

(28,864)

1,014,812

59,885

634,612

125,365

455,590

(211,138)

(49,502)

Balance at beginning of year 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]

2,368

(3,110)

1,372

8,666

90,402

^[1]

(21,065)

(16,467)

8,700

(8,666)

Balance at end of year at Jun. 30, 2023

3,845

1,099,751

59,885

636,051

142,567

577,042

(226,230)

(89,564)

Balance at beginning of year at Mar. 31, 2023

59,885

634,785

138,333

547,641

(212,794)

(78,340)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

1,403

(137)

137

4,234

44,173

^[1]

(10,538)

(13,573)

(4,234)

Balance at end of year at Jun. 30, 2023

(11,224)

$ 1,099,751

$ 59,885

$ 636,051

$ 142,567

$ 577,042

$ (226,230)

$ (89,564)

[1]	Dividends declared per common share during the quarter ended June 30, 2023 - $0.22 (June 30, 2022 - $0.15). Dividends declared per common share during the six month period ended June 30, 2023 - $0.44 (June 30, 2022 - $0.30).

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.22	$ 0.22	$ 0.15	$ 0.44	$ 0.30	$ 0.20

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 90,402	$ 77,953
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred loan origination fees (costs) and fair value premiums (discounts) on loans	323	(745)
Amortization of investment securities (discounts), net of accretion of premiums	(3,191)	1,461
Amortization of other intangible assets	3,450	4,293
Net change in operating leases	184	187
Depreciation and amortization of premises and equipment	10,210	7,353
Deferred income tax expense, net	34,580	32,933
Provision for credit losses	24,489	8,242
Stock-based compensation	2,368	2,004
(Gain) loss on:
Sale of securities	1,149	0
Sale of loans	(287)	(1,169)
Early extinguishment of debt	0	(42)
Foreclosed real estate and other repossessed assets	(4,472)	(8,012)
Sale of other assets	25	(4,747)
Originations and purchases of loans held-for-sale	(59,847)	(116,314)
Proceeds from sale of loans held-for-sale	5,596	86,596
Net decrease (increase) in:
Accrued interest receivable	(947)	(2,066)
Servicing assets	955	(307)
Other assets	(6,458)	(709)
Net increase (decrease) in:
Accrued interest on deposits and borrowings	1,083	(151)
Accrued expenses and other liabilities	(269)	2,923
Net cash provided by operating activities	99,343	89,683
Purchases of:
Investment securities available-for-sale	(47,650)	(719,459)
Investment securities held-to-maturity	0	(196,742)
FHLB stock	(9,681)	(122)
Equity securities	(2,642)	(2,189)
Maturities and redemptions of:
Investment securities available-for-sale	176,280	57,288
Investment securities held-to-maturity	10,311	16,153
FHLB stock	44	41
Proceeds from sales of:
Investment securities available-for-sale	202,133	0
Foreclosed real estate and other repossessed assets, including write-offs	30,957	26,270
Premises and equipment	30	4,747
Origination and purchase of loans, excluding loans held-for-sale	(1,801,377)	(1,498,059)
Principal repayment of loans	1,473,429	1,212,135
Additions to premises and equipment	(7,656)	(17,380)
Net cash provided by (used in) investing activities	24,178	(1,117,317)
Net (decrease) increase in:
Deposits	(35,417)	426,547
Subordinated capital notes	0	(36,041)
FHLB advances, federal funds purchased, and other borrowings	198,714	(889)
Exercise of stock options and restricted units lapsed, net	(1,738)	(909)
Purchase of treasury stock	(16,467)	(64,110)
Dividends paid on common stock	(20,104)	(13,333)
Net cash provided by financing activities	124,988	311,265
Net change in cash, cash equivalents and restricted cash	248,509	(716,369)
Cash, cash equivalents and restricted cash at beginning of period	550,464	2,023,650
Cash, cash equivalents and restricted cash at end of period	798,973	1,307,281
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:
Cash and due from banks	795,546	1,302,199
Money market investments	3,427	4,913
Restricted cash	0	169
Total cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	798,973	1,307,281
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:
Interest paid	27,706	11,758
Income taxes paid	3,438	3,470
Operating lease liabilities paid	5,024	5,031
Mortgage loans held-for-sale securitized into mortgage-backed securities	53,713	53,488
Transfer from loans to foreclosed real estate and other repossessed assets	25,785	19,693
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio	86	0
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio	8,736	18,000
Financed sales of foreclosed real estate	488	825
Delinquent loans booked under the GNMA buy-back option	$ 18,417	$ 33,431

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations OFG is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. OFG operates through various subsidiaries including, a commercial bank, Oriental Bank (the “Bank”), a securities broker-dealer and investment adviser, Oriental Financial Services LLC (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), a captive reinsurance company, OFG Reinsurance Ltd (“OFG Reinsurance”), and OFG Ventures LLC (“OFG Ventures”), which holds investments. Through these subsidiaries and their respective divisions, OFG provides a wide range of banking and financial services such as commercial, consumer and mortgage lending, auto leasing and lending, financial planning, insurance sales, money management, investment banking and securities brokerage services, as well as corporate and individual trust services. Effective December 31, 2022, OFG sold its retirement plan administration business, which was operated under a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), which thereafter ceased its operations. The results for the six-month period ended June 30, 2022 included these operations. Basis of Presentation The accompanying unaudited consolidated financial statements of OFG have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission (“SEC”). Accordingly, these consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of OFG on a consolidated basis, and all such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in OFG’s annual report on Form 10-K for the fiscal year ended December 31, 2022 (the “2022 Form 10-K”). Operating results for six month period ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. OFG evaluated subsequent events through the filing date of its quarterly report on Form 10-Q with the SEC and has recorded or disclosed those material events or transactions as described within the accompanying consolidated financial statements and notes. Material estimates that are particularly susceptible to significant change in the near term relate mainly to the determination of the allowance for credit losses, the valuation of securities, the determination of income taxes, impairment of securities, and goodwill valuation and impairment assessment. Recently Adopted Accounting Standards Updates Financial Instruments—Credit Losses Troubled Debt Restructurings and Vintage Disclosures. In March 2022, the Financial Accounting Standards Board issued ASU 2022-02 to address the accounting guidance on troubled debt restructurings (“TDRs”) for creditors in ASC 310-402 and amend the guidance on vintage disclosures to require disclosure of current-period gross write-offs by year of origination. The ASU also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancing and restructurings for borrowers experiencing financial difficulty. The amendments in this update are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. OFG adopted the guidance related to the elimination of the recognition and measurement of TDRs and the enhancement of disclosures for loan restructurings for borrowers experiencing financial difficulty as of January 1, 2023, using the prospective transition method. As of our adoption date, 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 under ASU 2022-02, we continue to measure impairment on the loan using a discounted cash flow approach that utilizes the loan’s restructured terms, including the post-restructuring interest rate, which does not result in any material changes to the allowance for credit losses. We also adopted the disclosure guidance related to the presentation of gross write-offs by year of origination in our vintage disclosures on January 1, 2023. At the adoption of this guidance on January 1, 2023, there was no material impact on our financial statements.

RESTRICTED CASH	6 Months Ended
RESTRICTED CASH	Jun. 30, 2023
Restricted Cash and Investments [Abstract]
RESTRICTED CASH	RESTRICTED CASH OFG had a contract with the Federal National Mortgage Association (the “FNMA”) which required collateral to guarantee the repurchase, if necessary, of loans sold with recourse. At December 31, 2022, OFG had delivered as collateral cash amounting to approximately $157 thousand. On May 1, 2023, OFG and a third-party servicer terminated a subservicing agreement by mutual agreement pursuant to which OFG transferred the servicing of a portion of the subserviced loans to the third-party servicer. Therefore, no collateral was delivered at June 30, 2023. 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 June 30, 2023 was $464.5 million (December 31, 2022 - $482.9 million). At June 30, 2023 and December 31, 2022, the Bank complied with this requirement. Cash and due from bank, as well as other short-term highly liquid securities, are used to cover the required average reserve balances.

INVESTMENT SECURITIES

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

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 June 30, 2023 and December 31, 2022, money market instruments included as part of cash and cash equivalents amounted to $3.4 million and $4.2 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 June 30, 2023 and December 31, 2022 were as follows:


	June 30, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Weighted Average Yield
	(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates
Due less than 1 year	$	—	$	—	$	—	$	—	—	%
Due from 1 to 5 years	$	8,463	$	—	$	485	$	7,978	1.76	%
Due from 5 to 10 years	52,433		—		3,803		48,630		2.00	%
Due after 10 years	786,949		125		64,832		722,242		3.00	%
Total FNMA and FHLMC certificates	847,845		125		69,120		778,850		2.93	%
GNMA Securities
Due less than 1 year	—		—		—		—		—	%
Due from 1 to 5 years	10,633		—		558		10,075		1.69	%
Due from 5 to 10 years	20,551		7		1,450		19,108		2.16	%
Due after 10 years	353,716		1,548		35,213		320,051		3.16	%
Total GNMA certificates	384,900		1,555		37,221		349,234		3.07	%
CMOs issued by US government-sponsored agencies

Due from 1 to 5 years	11,425		—		659		10,766		1.78	%
Due from 5 to 10 years	265		—		4		261		2.14	%
Due after 10 years	905		—		20		885		5.07	%
Total CMOs issued by US government-sponsored agencies	12,595		—		683		11,912		2.02	%
Total mortgage-backed securities	1,245,340		1,680		107,024		1,139,996		2.96	%
Investment securities
US Treasury securities
Due less than 1 year	748		—		—		748		4.77	%



Total US Treasury Securities	748		—		—		748		4.77	%






Other debt securities
Due less than 1 year	376		44		—		420		7.00	%
Due from 1 to 5 years	685		—		4		681		3.18	%


Total other debt securities	1,061		44		4		1,101		4.53	%
Total investment securities	1,809		44		4		1,849		4.63	%
Total securities available for sale	$	1,247,149	$	1,724	$	107,028	$	1,141,845	2.97	%

	June 30, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Weighted Average Yield
	(In thousands)
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates



Due after 10 years	$	326,935	$	—	$	60,338	$	266,597	1.72	%

Investment securities
US Treasury securities
Due less than 1 year	$	198,478	$	—	$	3,697	$	194,781	3.34	%




Total securities held to maturity	$	525,413	$	—	$	64,035	$	461,378	2.34	%


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Weighted Average Yield
	(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates

Due from 1 to 5 years	$	10,155	—		$	550	$	9,605	1.76	%
Due from 5 to 10 years	59,167		—		3,764		55,403		2.00	%
Due after 10 years	768,381		59		65,332		703,108		2.87	%
Total FNMA and FHLMC certificates	837,703		59		69,646		768,116		2.79	%
GNMA Securities

Due from 1 to 5 years	12,505		—		632		11,873		1.66	%
Due from 5 to 10 years	24,575		14		1,585		23,004		2.13	%
Due after 10 years	320,417		892		36,652		284,657		2.90	%
Total GNMA certificates	357,497		906		38,869		319,534		2.80	%
CMOs issued by US government-sponsored agencies

Due from 1 to 5 years	14,190		—		755		13,435		1.78	%
Due from 5 to 10 years	485		—		10		475		2.14	%
Due after 10 years	959		—		18		941		5.06	%
Total CMOs issued by US government-sponsored agencies	15,634		—		783		14,851		1.99	%
Total mortgage-backed securities	1,210,834		965		109,298		1,102,501		2.79	%
Investment securities
US Treasury securities
Due less than 1 year	310,862		—		1,729		309,133		3.34	%










Other debt securities

Due from 1 to 5 years	1,116		30		4		1,142		4.45	%



Total investment securities	311,978		30		1,733		310,275		3.35	%
Total securities available for sale	$	1,522,812	$	995	$	111,031	$	1,412,776	2.90	%


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Weighted Average Yield
	(In thousands)
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates



Due after 10 years	$	337,435	$	—	$	62,358	$	275,077	1.71	%

Investment securities
US Treasury securities

Due from 1 to 5 years	197,635		—		3,526		194,109		3.36	%



Total securities held to maturity	$	535,070	$	—	$	65,884	$	469,186	2.30	%

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 June 30, 2023 and December 31, 2022, most securities held by OFG are issued by U.S. government entities and government-sponsored agencies that have a zero-credit loss assumption.

Investment securities at June 30, 2023 include $378.6 million pledged to secure government deposits, derivatives, and regulatory collateral that the secured parties are not permitted to sell or repledge, of which $328.2 million serve as collateral for public funds. Investment securities as of December 31, 2022 include $294.2 million pledged to secure government deposits, derivatives, and regulatory collateral that the secured parties are not permitted to sell or repledge, of which $293.7 million serve as collateral for public funds.

At both June 30, 2023 and December 31, 2022, the Bank’s international banking entities held short-term US Treasury securities in the amount of $325 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 of Puerto Rico (the “OCFI”).

During the six month periods ended June 30, 2023 and 2022, OFG retained securitized GNMA pools totaling $41.1 million and $53.5 million amortized cost, respectively, at a yield of 5.16% and 3.11%, respectively, from its own originations. Also, during the six month period ended June 30, 2023, OFG retained FNMA pools totaling $12.6 million, at a yield of 5.31%, from its own originations. OFG did not retain FNMA pools during the six month period ended June 30, 2022.

During the six month periods ended June 30, 2023 and 2022, OFG purchased $755 thousand and $735 thousand, respectively, of available for sale US Treasury securities.

During the six month period ended June 30, 2023, OFG sold $203.3 million of available for sale US Treasury securities and recognized a $1.1 million loss in the sale. These losses are included in the consolidated statements of operations.


	Six Month Period Ended June 30, 2023
Description	Sale Price		Book Value at Sale		Gross Gains		Gross Losses
	(In thousands)
Sale of securities available-for-sale



Investment securities
US Treasury securities	$	202,133	$	203,282	$	—	$	1,149

There were no sales of securities during the six month period ended June 30, 2022.

The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity at June 30, 2023 and December 31, 2022, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position:


	June 30, 2023
	12 months or more
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
FNMA and FHLMC certificates	$	493,276	$	53,454	$	439,822
GNMA certificates	258,449		35,154		223,295

CMOs issued by US Government-sponsored agencies	12,595		683		11,912
	$	764,320	$	89,291	$	675,029

Held-to-maturity
FNMA and FHLMC certificates	$	326,935	$	60,338	$	266,597

	June 30, 2023
	Less than 12 months
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale

FNMA and FHLMC certificates	345,324		15,666		329,658
GNMA certificates	76,664		2,068		74,596

Other debt securities	184		4		180
	$	422,172	$	17,738	$	404,434
Held-to-maturity

US Treasury securities	198,478		3,697		194,781


	June 30, 2023
	Total
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
FNMA and FHLMC certificates	$	838,600	$	69,120	$	769,480
GNMA certificates	335,113		37,221		297,892
CMOs issued by US Government-sponsored agencies	12,595		683		11,912

Other debt securities	184		4		180
	$	1,186,492	$	107,028	$	1,079,464
Held-to-maturity
FNMA and FHLMC certificates	$	326,935	$	60,338	$	266,597
US Treasury securities	198,478		3,697		194,781
	$	525,413	$	64,035	$	461,378


	December 31, 2022
	12 months or more
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	337	$	7	$	330
FNMA and FHLMC certificates	88,600		18,989		69,611
GNMA certificates	82,074		14,031		68,043

	$	171,011	$	33,027	$	137,984

Held-to-maturity
FNMA and FHLMC certificates	$	337,435	$	62,358	$	275,077


	December 31, 2022
	Less than 12 months
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	15,297	$	776	$	14,521
FNMA and FHLMC certificates	745,566		50,657		694,909
GNMA certificates	251,835		24,838		226,997
US Treasury securities	310,862		1,729		309,133
Other debt securities	240		4		236
	$	1,323,800	$	78,004	$	1,245,796
Held-to-maturity

US Treasury securities	$	197,635	$	3,526	$	194,109


	December 31, 2022
	Total
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	15,634	$	783	$	14,851
FNMA and FHLMC certificates	834,166		69,646		764,520
GNMA certificates	333,909		38,869		295,040
US Treasury securities	310,862		1,729		309,133
Other debt securities	240		4		236
	$	1,494,811	$	111,031	$	1,383,780
Held-to-maturity
FNMA and FHLMC certificates	$	337,435	$	62,358	$	275,077
US Treasury securities	197,635		3,526		194,109
	$	535,070	$	65,884	$	469,186

LOANS

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

LOANS

OFG’s loan portfolio is composed of four segments: commercial, mortgage, consumer, and auto loans and leases. 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 June 30, 2023 and December 31, 2022 was as follows:


	June 30, 2023						December 31, 2022
	Non-PCD		PCD		Total		Non-PCD		PCD		Total
	(In thousands)
Commercial loans:
Commercial secured by real estate	$	980,570	$	131,326	$	1,111,896	$	974,202	$	138,678	$	1,112,880
Other commercial and industrial	971,608		21,562		993,170		854,442		20,474		874,916

US commercial loans	669,332		—		669,332		642,133		—		642,133
	2,621,510		152,888		2,774,398		2,470,777		159,152		2,629,929
Mortgage	641,555		980,833		1,622,388		675,793		1,028,428		1,704,221
Consumer:
Personal loans	540,975		294		541,269		480,620		338		480,958
Credit lines	11,312		274		11,586		12,826		300		13,126
Credit cards	40,561		—		40,561		42,872		—		42,872
Overdraft	274		—		274		301		—		301
	593,122		568		593,690		536,619		638		537,257
Auto loans and leases	2,124,076		3,319		2,127,395		1,958,257		5,658		1,963,915
	5,980,263		1,137,608		7,117,871		5,641,446		1,193,876		6,835,322
Allowance for credit losses	(150,167)		(9,756)		(159,923)		(141,841)		(10,832)		(152,673)
Total loans held for investment, net	5,830,096		1,127,852		6,957,948		5,499,605		1,183,044		6,682,649
Mortgage loans held for sale	11,397		—		11,397		19,499		—		19,499
Other loans held for sale	18,899		—		18,899		21,088		—		21,088
Total loans held for sale	30,296		—		30,296		40,587		—		40,587
Total loans, net	$	5,860,392	$	1,127,852	$	6,988,244	$	5,540,192	$	1,183,044	$	6,723,236

During the six month period ended June 30, 2023, OFG transferred to loans held for investment $8.7 million of residential mortgage loans held for sale. During the six month period ended June 30, 2022, OFG transferred to loans held for investment $16.9 million and $1.1 million, respectively, of commercial and residential mortgage loans held for sale.

At June 30, 2023 and December 31, 2022, OFG had carrying balances of $70.6 million and $73.7 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 June 30, 2023 and December 31, 2022, by class of loans. Mortgage loans past due include $18.4 million and $32.6 million of delinquent loans in the Government National Mortgage Association (“GNMA”) buy-back option program at June 30, 2023 and December 31, 2022, respectively. 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.


	June 30, 2023
	30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total Loans		Loans 90+ Days Past Due and Still Accruing
	(In thousands)
Commercial
Commercial secured by real estate	$	825	$	274	$	6,502	$	7,601	$	972,969	$	980,570	$	—
Other commercial and industrial	587		261		4,203		5,051		966,557		971,608		—
US commercial loans	—		9,721		6,270		15,991		653,341		669,332		—
	1,412		10,256		16,975		28,643		2,592,867		2,621,510		—
Mortgage	5,773		8,203		35,631		49,607		591,948		641,555		2,600
Consumer
Personal loans	4,595		2,709		2,163		9,467		531,508		540,975		—
Credit lines	75		26		64		165		11,147		11,312		—
Credit cards	440		290		611		1,341		39,220		40,561		—
Overdraft	53		—		—		53		221		274		—
	5,163		3,025		2,838		11,026		582,096		593,122		—
Auto loans and leases	84,881		32,356		13,130		130,367		1,993,709		2,124,076		—
Total loans	$	97,229	$	53,840	$	68,574	$	219,643	$	5,760,620	$	5,980,263	$	2,600

As of June 30, 2023, total past due loans exclude $6.4 million of past due commercial loans held for sale.


	December 31, 2022
	30-59 Day Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total Loans		Loans 90+ Days Past Due and Still Accruing
	(In thousands)
Commercial
Commercial secured by real estate	$	923	$	164	$	6,147	$	7,234	$	966,968	$	974,202	$	—
Other commercial and industrial	943		720		3,225		4,888		849,554		854,442		—
US commercial loans	—		—		—		—		642,133		642,133		—
	1,866		884		9,372		12,122		2,458,655		2,470,777		—
Mortgage	9,267		5,848		56,714		71,829		603,964		675,793		3,856
Consumer
Personal loans	4,263		2,669		2,314		9,246		471,374		480,620		—
Credit lines	500		154		117		771		12,055		12,826		—
Credit cards	730		486		682		1,898		40,974		42,872		—
Overdraft	91		2		—		93		208		301		—
	5,584		3,311		3,113		12,008		524,611		536,619		—
Auto loans and leases	75,237		36,954		19,613		131,804		1,826,453		1,958,257		—
Total loans	$	91,954	$	46,997	$	88,812	$	227,763	$	5,413,683	$	5,641,446	$	3,856

As of December 31, 2022, total past due loans exclude $21.1 million of past due commercial loans held for sale.

Upon adoption of the CECL methodology, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, purchased credit deteriorated (“PCD”) loans are not included in the tables above.

Non-accrual Loans

The following table presents the amortized cost basis of loans held for investment on nonaccrual status as of June 30, 2023 and December 31, 2022:


	June 30, 2023						December 31, 2022
	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
Commercial secured by real estate	$	6,012	$	8,478	$	14,490	$	4,091	$	17,098	$	21,189
Other commercial and industrial	4,413		280		4,693		2,769		885		3,654
US commercial loans	24,005		—		24,005		9,589		—		9,589
	34,430		8,758		43,188		16,449		17,983		34,432
Mortgage	13,091		6,130		19,221		11,719		11,522		23,241
Consumer
Personal loans	1,940		292		2,232		1,950		379		2,329
Personal lines of credit	63		—		63		116		—		116
Credit cards	612		—		612		683		—		683
	2,615		292		2,907		2,749		379		3,128
Auto loans and leases	13,126		4		13,130		19,612		1		19,613
Total	$	63,262	$	15,184	$	78,446	$	50,529	$	29,885	$	80,414

PCD:
Commercial
Commercial secured by real estate	$	2,547	$	4,353	$	6,900	$	2,807	$	6,084	$	8,891
Other commercial and industrial	—		1,204		1,204		—		36		36
	2,547		5,557		8,104		2,807		6,120		8,927
Mortgage	256		—		256		259		—		259



Total	$	2,803	$	5,557	$	8,360	$	3,066	$	6,120	$	9,186
Total non-accrual loans	$	66,065	$	20,741	$	86,806	$	53,595	$	36,005	$	89,600

The determination of nonaccrual or accrual status of PCD loans is made at the pool level, not the individual loan level.

As of June 30, 2023 and December 31, 2022, total commercial non-accrual loans exclude $14.3 million and $16.4 million of non-accrual commercial loans held for sale, respectively.

Delinquent residential mortgage loans insured or guaranteed under applicable FHA and Veterans Administration (“VA”) programs are classified as non-performing loans when they become 90 days or more past due but are not placed in non-accrual status until they become 12 months or more past due, since they are insured loans. Therefore, those loans are included as non-performing loans but excluded from non-accrual loans.

At December 31, 2022, loans whose terms have been extended and which were classified as troubled-debt restructurings that were not included in non-accrual loans amounted to $145.2 million as they were performing under their modified terms.

Modifications to Debtors Experiencing Financial Difficulty

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 their 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.

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, using the prospective transition method.

At June 30, 2023, the amortized cost of modified loans excludes $5 thousand of 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 following tables present the amortized cost basis as of June 30, 2023 of loans held for investment that were modified during the quarter and six month period ended June 30, 2023, disaggregated by class of financing receivable and type of concession granted.


	Quarter Ended June 30, 2023
	Term Extension
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable

Commercial loans:
Commercial loans secured by real estate	$	5,341	0.48	%
Other commercial and industrial	147		0.01	%


	5,488		0.20	%
Mortgage	1,827		0.11	%







Total	$	7,315


	Quarter Ended June 30, 2023
	Combination - Term Extension and Interest Rate Reduction
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable







Mortgage	417		0.03	%
Consumer:
Personal loans	58		0.01	%





Total	$	475


	Quarter Ended June 30, 2023
	Combination - Term Extension and Principal Forgiveness/Forbearance
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable

Commercial loans:



US commercial loans	$	4,260	0.64	%

Mortgage	431		0.03	%







Total	$	4,691


	Six-Month Period Ended June 30, 2023
	Term Extension
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable

Commercial loans:
Commercial loans secured by real estate	$	5,810	0.52	%
Other commercial and industrial	147		0.01	%


	5,957		0.21	%
Mortgage	4,318		0.27	%







Total	$	10,275


	Six-Month Period Ended June 30, 2023
	Principal Forgiveness/Forbearance
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable







Mortgage	$	100	0.01	%


	Six-Month Period Ended June 30, 2023
	Combination - Term Extension and Interest Rate Reduction
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable







Mortgage	$	602	0.02	%
Consumer:
Personal loans	84		0.02	%





Total	$	686


	Six-Month Period Ended June 30, 2023
	Combination - Term Extension and Principal Forgiveness/Forbearance
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable

Commercial loans:



US commercial loans	$	4,260	0.64	%

Mortgage	431		0.03	%







Total	$	4,691

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 allowance for credit losses is recorded on each asset upon origination or acquisition and is based on historical loss information, including modifications made to borrowers facing financial difficulty. Changes to the allowance for credit losses are generally not recorded upon modification, as the effects of most modifications are already considered in the estimation methodology. Refer to Note 5 – Allowance for Credit Losses for additional information.

The following table presents the financial effect of the modifications granted to borrowers experiencing financial difficulty during the quarter and six month period ended June 30, 2023. The financial effect of the combined modifications is presented separately by type of modification.


	Quarter Ended June 30, 2023
	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (In months)	Weighted-Average Forgiveness/Forbearance of Principal Amount
Commercial:
Commercial loans secured by real estate	—	%	25	$	—
US Commercial loans	—	%	31	2,973
	—	%	56	$	2,973
Mortgage	1.86	%	195	$	20
Consumer:
Personal loans	1.25	%	110	$	—

During the quarter ended June 30, 2023, OFG granted a modification to a US commercial loan with unpaid principal balance of $8.9 million by extending its term and forgiving $4.6 million of its principal balance in exchange for the company's private stock with a fair value of $1.6 million. Subsequently, during July 2023, OFG granted a modification to another US commercial loan with unpaid principal balance of $4.4 million by forgiving all its unpaid principal balance in exchange for the company's private stock with a fair value of $279 thousand. This US commercial loan was already provisioned at June 30, 2023.


	Six-Month Period Ended June 30, 2023
	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (In months)	Weighted-Average Forgiveness/Forbearance of Principal Amount
Commercial:
Commercial loans secured by real estate	—	%	24	$	—
US Commercial loans	—	%	31	2,973
	—	%	55	$	2,973
Mortgage	2.04	%	206	$	24
Consumer:
Personal loans	2.50	%	81	$	—

The following table presents the amortized cost basis as of June 30, 2023 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the prior six-months.


	Six-Month Period Ended June 30, 2023
	Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted
	Interest Rate Reduction		Term Extension		Principal Forgiveness/Forbearance		Combination - Term Extension and Interest Rate Reduction		Total
	(In thousands)






Mortgage	$	—	$	415	$	—	$	—	$	415

A payment default for a financial difficulty modification loan is defined as reaching 90 days past due with respect to principal and/or interest payments or when the borrower missed three consecutive monthly payments since modification. Payment defaults are one of the factors considered when projecting future cash flows in the calculation of the allowance for credit losses of loans.

OFG closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents an aging of the loans held for investment that have been modified during the six month period ended June 30, 2023.


	June 30, 2023
	30-59 Day Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total
	(In thousands)
Commercial
Commercial loans secured by real estate	$	—	$	—	$	—	$	—	$	5,810	$	5,810
Other commercial and industrial	—		—		—		—		147		147
US commercial loans	—		—		—		—		4,260		4,260
	—		—		—		—		10,217		10,217
Mortgage	—		122		415		537		4,914		5,451
Consumer
Personal loans	—		—		—		—		84		84



	—		—		—		—		84		84

Total	$	—	$	122	$	415	$	537	$	15,215	$	15,752

At June 30, 2023, the total amortized cost of modified loans to borrowers experiencing financial difficulty includes $4.2 million of government-guaranteed loans (e.g., FHA/VA). There were no outstanding commitments to lend additional funds to debtors experiencing financial difficulties at June 30, 2023.

Troubled Debt Restructurings (“TDRs”) Disclosures Prior to the Adoption of ASU 2022-02

Prior to the adoption of ASU 2022-02, OFG offered various types of concessions when modifying a loan. Concessions made to the original contractual terms of the loan typically consisted of the deferral of interest and/or principal payments due to deterioration in the borrowers’ financial condition. In these cases, the principal balance on the TDR had matured and/or was in default at the time of restructuring. 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. Refer to “Note 1 – Summary of Significant Accounting Policies” in our 2022 Form 10-K for more information on TDR accounting and disclosure requirements, and “Note 1 – Summary of Significant Accounting Policies” in this report for more information on our adoption of ASU 2022-02.

The amount of outstanding commitments to lend additional funds to commercial borrowers whose terms were modified in TDRs amounted to $3.2 million at December 31, 2022.

The following table presents the troubled-debt restructurings in all loan portfolios as of December 31, 2022:


	December 31, 2022
		Accruing		Non-accruing		Total		Related Allowance
	(In thousands)
Commercial loans:
Commercial secured by real estate		$	31,437	$	13,187	$	44,624	$	181
Other commercial and industrial		2,272		354		2,626		42

US commercial loans		7,132		—		7,132		89
		40,841		13,541		54,382		312
Mortgage		102,387		6,773		109,160		2,495
Consumer:
Personal loans		1,850		15		1,865		73




Auto loans and leases		77		—		77		3
Total loans		$	145,155	$	20,329	$	165,484	$	2,883

The following tables present the troubled-debt restructurings by loan portfolios and modification type as of December 31, 2022:


	December 31, 2022
	Reduction in interest rate		Maturity or term extension		Combination of reduction in interest rate and extension of maturity		Forbearance		Total
	(In thousands)
Commercial loans:
Commercial secured by real estate	$	7,746	$	29,454	$	7,424	$	—	$	44,624
Other commercial and industrial	785		1,367		474		—		2,626

US commercial loans	7,132		—		—		—		7,132
	15,663		30,821		7,898		—		54,382
Mortgage	31,709		8,020		35,194		34,237		109,160
Consumer:
Personal loans	825		176		793		71		1,865





Auto loans and leases	39		—		20		18		77
Total loans	$	48,236	$	39,017	$	43,905	$	34,326	$	165,484

At December 31, 2022, TDR mortgage loans included $43.5 million of government-guaranteed loans (e.g., FHA/VA).

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 were not included in the TDR tables.

Loan modifications that were considered TDR loans completed during the quarter and six-month period ended June 30, 2022:


	Quarter Ended June 30, 2022
	Number of contracts	Pre-Modification Outstanding Recorded Investment		Pre-Modification Weighted Average Rate		Pre-Modification Weighted Average Term (in Months)	Post-Modification Outstanding Recorded Investment		Post-Modification Weighted Average Rate		Post-Modification Weighted Average Term (in Months)
	(Dollars in thousands)
Mortgage	36	4,333		4.58	%	267	4,608		3.68	%	344
Commercial	2	37,808		3.51	%	133	37,808		3.61	%	187
Consumer	1	9		20.95	%	72	9		10.95	%	72



	Six-Month Period Ended June 30, 2022
	Number of contracts	Pre-Modification Outstanding Recorded Investment		Pre-Modification Weighted Average Rate		Pre-Modification Weighted Average Term (in Months)	Post-Modification Outstanding Recorded Investment		Post-Modification Weighted Average Rate		Post-Modification Weighted Average Term (in Months)
	(Dollars in thousands)
Mortgage	72	$	9,033	4.55	%	270	$	9,471	3.57	%	343
Commercial	4	38,703		3.56	%	131	38,560		3.63	%	184
Consumer	2	22		19.27	%	79	22		10.95	%	79

The following table presents troubled-debt restructurings for which there was a payment default during the twelve-months periods ended June 30, 2022:


	Twelve-month period ended June 30, 2022
		Number of Contracts	Recorded Investment

Mortgage		7	$	800

Consumer		3	$	47

As of June 30, 2023 and December 31, 2022, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $25.8 million and $14.9 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 the respective territory’s 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 June 30, 2023 and December 31, 2022, by class of loans.


	June 30,		December 31,
	2023		2022
	(In thousands)

Commercial loans secured by real estate	$	9,945	$	8,805

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.

On January 1, 2023, OFG adopted ASU 2022-02 which requires public companies to include current year-to-date period gross charge-offs by year of origination as described in the tables below.

As of June 30, 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 Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Commercial:
Commercial secured by real estate:
Loan grade:
Pass	$	40,469	$	221,969	$	174,336	$	123,684	$	99,681	$	192,049	$	54,543	$	906,731
Special Mention	—		1,837		6,729		17,860		15,827		10,903		192		53,348
Substandard	—		411		1,714		644		2,738		14,111		527		20,145
Doubtful	—		—		—		—		—		15		331		346
Loss	—		—		—		—		—		—		—		—
Total commercial secured by real estate	40,469		224,217		182,779		142,188		118,246		217,078		55,593		980,570
Commercial secured by real estate:
Current-period gross charge-offs	—		—		80		—		94		67		—		241


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Other commercial and industrial:
Loan grade:
Pass	153,016		107,027		122,761		55,849		30,431		17,332		475,103		961,519
Special Mention	9		1,841		—		5,852		628		17		22		8,369
Substandard	—		124		1		256		331		213		756		1,681
Doubtful	—		—		—		—		—		—		39		39
Loss	—		—		—		—		—		—		—		—
Total other commercial and industrial:	153,025		108,992		122,762		61,957		31,390		17,562		475,920		971,608
Other commercial and industrial:
Current-period gross charge-offs	—		18		458		—		—		1,180		—		1,656
US commercial loans:
Loan grade:
Pass	74,370		60,598		85,047		45,864		31,545		17,685		306,777		621,886
Special Mention	—		7,854		—		—		—		—		—		7,854
Substandard	30		10,395		—		958		—		18,020		10,189		39,592
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total US commercial loans:	74,400		78,847		85,047		46,822		31,545		35,705		316,966		669,332
US commercial loans:
Current-period gross charge-offs	33		1,156		—		—		—		1,785		—		2,974
Total commercial loans	$	267,894	$	412,056	$	390,588	$	250,967	$	181,181	$	270,345	$	848,479	$	2,621,510
Total current-period gross charge-offs	$	33	$	1,174	$	538	$	—	$	94	$	3,032	$	—	$	4,871

As of December 31, 2022 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 Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2022		2021		2020		2019		2018		Prior
	(In thousands)
Commercial:
Commercial secured by real estate:
Loan grade:
Pass	$	220,035	$	177,775	$	110,809	$	118,518	$	50,454	$	159,721	$	69,523	$	906,835
Special Mention	1,899		—		6,007		17,004		2,095		13,934		439		41,378
Substandard	103		8,410		345		405		473		14,722		1,185		25,643
Doubtful	—		—		—		—		—		15		331		346
Loss	—		—		—		—		—		—		—		—
Total commercial secured by real estate	222,037		186,185		117,161		135,927		53,022		188,392		71,478		974,202
Other commercial and industrial:
Loan grade:
Pass	123,659		198,776		67,147		35,678		13,807		7,863		397,944		844,874
Special Mention	3		60		31		654		1,819		21		3,823		6,411
Substandard	112		—		260		472		280		74		1,920		3,118
Doubtful	—		—		—		—		—		—		39		39
Loss	—		—		—		—		—		—		—		—
Total other commercial and industrial:	123,774		198,836		67,438		36,804		15,906		7,958		403,726		854,442
US commercial loans:
Loan grade:
Pass	81,155		92,688		43,965		33,827		49,356		—		308,183		609,174
Special Mention	6,346		—		—		—		—		—		1,122		7,468
Substandard	3,363		—		8,090		—		4,449		—		9,589		25,491
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total US commercial loans:	90,864		92,688		52,055		33,827		53,805		—		318,894		642,133
Total commercial loans	$	436,675	$	477,709	$	236,654	$	206,558	$	122,733	$	196,350	$	794,098	$	2,470,777

At June 30, 2023 and December 31, 2022, the balance of revolving loans converted to term loans was $79.4 million and $78.0 million, respectively.

OFG considers the performance of the loan portfolio and its impact on the allowance for credit losses. 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 tables present the amortized cost in mortgage and consumer loans held for investment based on payment activity as of June 30, 2023 and December 31, 2022:


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Mortgage:
Payment performance:
Performing	$	5,996	$	19,898	$	24,880	$	16,182	$	14,600	$	532,399	$	—	$	613,955
Nonperforming	—		—		—		109		328		27,163		—		27,600
Total mortgage loans:	5,996		19,898		24,880		16,291		14,928		559,562		—		641,555
Mortgage:
Current-period gross charge-offs	—		—		—		—		—		392		—		392
Consumer:
Personal loans:
Payment performance:
Performing	161,223		232,481		87,578		24,773		22,131		10,557		—		538,743
Nonperforming	166		1,019		355		169		154		369		—		2,232
Total personal loans	161,389		233,500		87,933		24,942		22,285		10,926		—		540,975
Personal loans:
Current-period gross charge-offs	23		4,998		2,364		444		818		308		—		8,955
Credit lines:
Payment performance:
Performing	—		—		—		—		—		—		11,249		11,249
Nonperforming	—		—		—		—		—		—		63		63
Total credit lines	—		—		—		—		—		—		11,312		11,312
Credit lines:
Current-period gross charge-offs	—		—		—		—		—		—		214		214
Credit cards:
Payment performance:
Performing	—		—		—		—		—		—		39,949		39,949
Nonperforming	—		—		—		—		—		—		612		612
Total credit cards	—		—		—		—		—		—		40,561		40,561
Credit cards:
Current-period gross charge-offs	—		—		—		—		—		—		1,486		1,486
Overdrafts:
Payment performance:
Performing	—		—		—		—		—		—		274		274
Nonperforming	—		—		—		—		—		—		—		—
Total overdrafts	—		—		—		—		—		—		274		274
Overdrafts:
Current-period gross charge-offs	—		—		—		—		—		—		303		303


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Total consumer loans	161,389		233,500		87,933		24,942		22,285		10,926		52,147		593,122
Total consumer current-period gross charge-offs	23		4,998		2,364		444		818		308		2,003		10,958
Total mortgage and consumer loans	$	167,385	$	253,398	$	112,813	$	41,233	$	37,213	$	570,488	$	52,147	$	1,234,677
Total mortgage and consumer current-period gross charge-offs	$	23	$	4,998	$	2,364	$	444	$	818	$	700	$	2,003	$	11,350


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2022		2021		2020		2019		2018		Prior
	(In thousands)
Mortgage:
Payment performance:
Performing	$	18,700	$	25,274	$	16,175	$	15,457	$	16,790	$	549,885	$	—	$	642,281
Nonperforming	—		—		110		574		241		32,587		—		33,512
Total mortgage loans:	18,700		25,274		16,285		16,031		17,031		582,472		—		675,793
Consumer:
Personal loans:
Payment performance:
Performing	284,183		112,591		31,876		31,850		12,022		5,768		—		478,290
Nonperforming	831		661		111		300		81		346		—		2,330
Total personal loans	285,014		113,252		31,987		32,150		12,103		6,114		—		480,620
Credit lines:
Payment performance:
Performing	—		—		—		—		—		—		12,710		12,710
Nonperforming	—		—		—		—		—		—		116		116
Total credit lines	—		—		—		—		—		—		12,826		12,826
Credit cards:
Payment performance:
Performing	—		—		—		—		—		—		42,189		42,189
Nonperforming	—		—		—		—		—		—		683		683
Total credit cards	—		—		—		—		—		—		42,872		42,872
Overdrafts:
Payment performance:
Performing	—		—		—		—		—		—		301		301
Nonperforming	—		—		—		—		—		—		—		—
Total overdrafts	—		—		—		—		—		—		301		301
Total consumer loans	285,014		113,252		31,987		32,150		12,103		6,114		55,999		536,619
Total mortgage and consumer loans	$	303,714	$	138,526	$	48,272	$	48,181	$	29,134	$	588,586	$	55,999	$	1,212,412

At June 30, 2023 and December 31, 2022, there were no revolving loans that converted to term loans.

OFG evaluates credit quality for auto loans and leases based on FICO score. The following tables present the amortized cost in auto loans and leases held for investment based on their most recent FICO score as of June 30, 2023 and December 31, 2022:


	Term Loans Amortized Cost Basis by Origination Year												Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Auto loans and leases:
FICO score:
1-660	79,226		202,606		133,141		65,096		48,918		55,603		584,590
661-699	86,433		145,405		72,453		32,591		24,416		23,826		385,124
700+	234,111		354,101		210,260		123,846		111,118		94,364		1,127,800
No FICO	3,031		7,444		5,414		3,045		4,851		2,777		26,562
Total auto loans and leases:	$	402,801	$	709,556	$	421,268	$	224,578	$	189,303	$	176,570	$	2,124,076
Auto loans and leases:
Current-period gross charge-offs	$	94	$	7,666	$	5,245	$	2,039	$	1,795	$	1,809	$	18,648


	Term Loans Amortized Cost Basis by Origination Year												Total
	2022		2021		2020		2019		2018		Prior
	(In thousands)
Auto loans and leases:
FICO score:
1-660	178,426		143,926		72,148		58,069		44,156		31,980		528,705
661-699	171,723		93,359		42,388		31,033		21,283		13,518		373,304
700+	375,845		235,743		144,783		135,517		88,597		47,499		1,027,984
No FICO	7,766		6,553		3,741		5,873		3,008		1,323		28,264
Total auto loans and leases	$	733,760	$	479,581	$	263,060	$	230,492	$	157,044	$	94,320	$	1,958,257

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 tables above.

As of June 30, 2023 and December 31, 2022, accrued interest receivable on loans totaled $58.6 million and $58.1 million, respectively, and is included in the accrued interest receivable line in OFG’s consolidated statements of financial condition. Refer to “Note 10 – Accrued Interest Receivable and Other Assets” for more information on accrued interest receivable on loans.

ALLOWANCE FOR CREDIT LOSSES

6 Months Ended

Jun. 30, 2023

Credit Loss [Abstract]

ALLOWANCE FOR CREDIT LOSSES

OFG measures its allowance for credit losses 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 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. For more information on OFG’s credit loss accounting policies, including the allowance for credit losses, see “Note 1 – Summary of Significant Accounting Policies” included in OFG’s 2022 Form 10-K.

At June 30, 2023, 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 was updated to use a higher probability level in the moderate recessionary scenario. In addition, the ACL at June 30, 2023 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 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 June 30, 2023, the allowance for credit losses increased by $7.3 million when compared to December 31, 2022. The provision for credit losses for the six month period ended June 30, 2023 reflected a provision of $12.5 million related to the growth in loan balances, a provision of $13.5 million related to commercial-specific loan reserves, mainly in the US commercial loan portfolio, and $1.0 million associated with qualitative adjustments. The increases to the provision were partially offset by releases of $3.1 million for changes in the economic and loss rate models.

The net charge-offs for the six month period ended June 30, 2023, amounted to $16.7 million, an increase of $11.6 million when compared to the same period of 2022. The increase is mainly due to increases of $6.0 million in commercial loans, $3.8 million in consumer loans, and $2.1 million in mortgage loans, offset by a decrease of $392 thousand in auto loans and leases.

The following tables present the activity in OFG’s allowance for credit losses by segment for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30, 2023
	Commercial		Mortgage		Consumer		Auto and Leasing		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	37,774	$	9,083	$	24,664	$	69,864	$	141,385
Provision for (recapture of) credit losses	14,089		(556)		4,517		(1,800)		16,250
Charge-offs	(3,496)		(191)		(5,518)		(9,169)		(18,374)
Recoveries	237		334		2,003		8,332		10,906
Balance at end of period	$	48,604	$	8,670	$	25,666	$	67,227	$	150,167
PCD:
Balance at beginning of period	$	1,693	$	8,717	$	12	$	77	$	10,499
(Recapture of) provision for credit losses	(604)		(679)		78		(401)		(1,606)
Charge-offs	—		(1)		(124)		(34)		(159)
Recoveries	319		260		42		401		1,022
Balance at end of period	$	1,408	$	8,297	$	8	$	43	$	9,756
Total allowance for credit losses at end of period	$	50,012	$	16,967	$	25,674	$	67,270	$	159,923


	Six Month Period Ended June 30, 2023
	Commercial		Mortgage		Consumer		Auto loans and leases		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	39,158	$	9,571	$	23,264	$	69,848	$	141,841
Provision for (recapture of) credit losses	13,754		(1,059)		10,491		1,096		24,282
Charge-offs	(4,871)		(392)		(10,958)		(18,648)		(34,869)
Recoveries	563		550		2,869		14,931		18,913
Balance at end of period	$	48,604	$	8,670	$	25,666	$	67,227	$	150,167
PCD:
Balance at beginning of period	$	1,388	$	9,359	$	14	$	71	$	10,832
Provision for (recapture of) credit losses	1,316		(1,493)		278		(408)		(307)
Charge-offs	(2,104)		(76)		(337)		(121)		(2,638)
Recoveries	808		507		53		501		1,869
Balance at end of period	$	1,408	$	8,297	$	8	$	43	$	9,756
Total allowance for credit losses at end of period	$	50,012	$	16,967	$	25,674	$	67,270	$	159,923


	Quarter Ended June 30, 2022
	Commercial		Mortgage		Consumer		Auto and Leasing		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	37,097	$	14,952	$	21,100	$	64,195	$	137,344

Provision for (recapture of) credit losses	7,368		(3,122)		4,521		3,535		12,302
Charge-offs	(2,907)		(259)		(3,307)		(6,428)		(12,901)
Recoveries	456		335		795		5,565		7,151
Balance at end of period	$	42,014	$	11,906	$	23,109	$	66,867	$	143,896
PCD:
Balance at beginning of period	$	3,622	$	15,881	$	31	$	197	$	19,731

Recapture of credit losses	(1,444)		(4,183)		(16)		(152)		(5,795)
Charge-offs	—		(183)		(8)		(75)		(266)
Recoveries	249		1,026		13		185		1,473
Balance at end of period	$	2,427	$	12,541	$	20	$	155	$	15,143
Total allowance for credit losses at end of period	$	44,441	$	24,447	$	23,129	$	67,022	$	159,039

	Six-Month Period Ended June 30, 2022
	Commercial		Mortgage		Consumer		Auto loans and leases		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	32,262	$	15,299	$	19,141	$	65,363	$	132,065

Provision for (recapture of) credit losses	12,555		(5,540)		8,484		5,366		20,865
Charge-offs	(3,451)		(262)		(5,966)		(14,318)		(23,997)
Recoveries	648		2,409		1,450		10,456		14,963
Balance at end of period	$	42,014	$	11,906	$	23,109	$	66,867	$	143,896
PCD:
Balance at beginning of period	$	4,508	$	19,018	$	34	$	312	$	23,872

Recapture of credit losses	(5,319)		(7,031)		(3)		(290)		(12,643)
Charge-offs	(34)		(1,317)		(47)		(189)		(1,587)
Recoveries	3,272		1,871		36		322		5,501
Balance at end of period	$	2,427	$	12,541	$	20	$	155	$	15,143
Total allowance for credit losses at end of period	$	44,441	$	24,447	$	23,129	$	67,022	$	159,039

FORECLOSED REAL ESTATE

6 Months Ended

Jun. 30, 2023

Other Real Estate [Abstract]

FORECLOSED REAL ESTATE

The following table presents the activity related to foreclosed real estate for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30,				Six Month Period Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Balance at beginning of period	$	9,250	$	15,297	$	11,214	$	15,039
Additions	3,196		2,549		4,634		5,729
Sales	(3,072)		(4,140)		(6,653)		(7,947)
Decline in value	(272)		(219)		(400)		(414)
Other adjustments	1,537		1,574		1,844		2,654
Balance at end of period	$	10,639	$	15,061	$	10,639	$	15,061

SERVICING ASSETS

6 Months Ended

Jun. 30, 2023

Transfers and Servicing [Abstract]

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.

At June 30, 2023, the fair value of mortgage servicing rights was $50.0 million ($50.9 million — December 31, 2022).

The following table presents the changes in servicing rights measured using the fair value method for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30,				Six Month Period Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Fair value at beginning of period	$	49,345	$	49,446	$	50,921	$	48,973
Servicing from mortgage securitization or asset transfers	791		1,150		1,365		2,269
Changes due to payments on loans	(1,085)		(1,478)		(2,150)		(2,977)
Changes in fair value due to changes in valuation model inputs or assumptions	915		162		(170)		1,015
Fair value at end of period	$	49,966	$	49,280	$	49,966	$	49,280

The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value as of June 30, 2023 and 2022:


	Six-Month Period Ended June 30,
	2023	2022
Constant prepayment rate	3.49% - 21.68%	3.60% - 22.71%
Discount rate	10.00% - 15.50%	10.00% - 15.50%

The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follows:


	June 30,		December 31,
	2023		2022
	(In thousands)
Mortgage-related servicing asset
Carrying value of mortgage servicing asset	$	49,966	$	50,921
Weighted average life (in years)	7.6		7.8
Constant prepayment rate
Decrease in fair value due to 10% adverse change	$	(947)	$	(956)
Decrease in fair value due to 20% adverse change	$	(1,862)	$	(1,880)
Discount rate
Decrease in fair value due to 10% adverse change	$	(2,177)	$	(2,265)
Decrease in fair value due to 20% adverse change	$	(4,190)	$	(4,356)

These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption.

Changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflecting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows.

Servicing fee income is based on a contractual percentage of the outstanding principal balance and is recorded as income when earned and included in the mortgage banking activities section in the consolidated statement of operations. Servicing fees on mortgage loans for the quarters ended June 30, 2023 and 2022 totaled $4.8 million and $5.2 million, respectively. Servicing fees on mortgage loans for the six month periods ended June 30, 2023 and 2022 totaled $9.8 million and $10.2 million, respectively.

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481420/860-30-50-1A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(7)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill and Intangible Assets Disclosure [Abstract]

DERIVATIVES	6 Months Ended
DERIVATIVES	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES OFG’s overall interest rate risk-management strategy incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings that are caused by interest rate volatility. Derivative instruments that are used as part of OFG’s interest rate risk-management strategy include interest rate swaps and caps. As of June 30, 2023 and December 31, 2022, the notional amount of derivative contracts outstanding was $25.6 million and $26.6 million, respectively. The gross fair value of derivative asset was $120 thousand and $406 thousand, respectively, and included in other assets in the consolidated statement of financial condition. The gross fair value of derivatives liabilities was zero for both periods. The impact of master netting agreements was not material. As of June 30, 2023 and December 31, 2022, derivative and hedging activities were not material.

GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2023

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill by reportable business segment is included in the table below. Refer to “Note 23 – Business Segments” for additional information on OFG’s reportable business segments.


	Banking		Wealth Management		Treasury		Total
	(In thousands)


December 31, 2022	$	84,063	$	178	$	—	$	84,241

June 30, 2023	$	84,063	$	178	$	—	$	84,241

There were no changes in the carrying amount of goodwill during the quarters and six month periods ended June 30, 2023 and 2022. There were no accumulated impairment losses at June 30, 2023 and December 31, 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.

OFG performed its annual impairment review of goodwill during the fourth quarter of 2022 using October 31, 2022 as the annual evaluation date and concluded that there was no impairment at December 31, 2022. During the six month period ended June 30, 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 June 30, 2023.

The following table reflects the components of other intangible assets subject to amortization at June 30, 2023 and December 31, 2022:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
	(In thousands)
June 30, 2023
Core deposit intangibles	$	41,507	$	23,018	$	18,489
Customer relationship intangibles	12,693		7,039		5,654

Total other intangible assets	$	54,200	$	30,057	$	24,143
December 31, 2022
Core deposit intangibles	$	41,507	$	20,376	$	21,131
Customer relationship intangibles	12,693		6,231		6,462

Total other intangible assets	$	54,200	$	26,607	$	27,593

In connection with previous acquisitions, OFG recorded a core deposit intangible representing the value of checking and savings deposits acquired. In addition, OFG recorded a customer relationship intangible representing the value of customer relationships acquired with the acquisitions of insurance agencies. During the six month period ended June 30, 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 June 30, 2023.

Other intangible assets have a definite useful life. Amortization of other intangible assets for the quarters ended June 30, 2023 and 2022 was $1.7 million and $2.2 million, respectively. Amortization of other intangible assets for the six month periods ended June 30, 2023 and 2022, was $3.4 million and $4.3 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)
2023	$	6,898
2024	5,913
2025	4,927
2026	3,942
2027	2,956
Thereafter	2,957

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS

6 Months Ended

Jun. 30, 2023

Accrued Interest Receivable and Other Assets [Abstract]

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS

Accrued interest receivable at June 30, 2023 and December 31, 2022 consists of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Loans	$	58,638	$	58,144
Investments	4,719		4,258
	$	63,357	$	62,402

Accrued interest receivable on loans that participated in the Hurricane Fiona and Covid-19 deferral programs amounted to $20.6 million at June 30, 2023, of which $19.6 million corresponded to loans in current status. Accrued interest receivable on loans that participated in the Hurricane Fiona and Covid-19 deferral program amounted to $21.8 million at December 31, 2022, of which $20.7 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 June 30, 2023 and December 31, 2022, the allowance for credit losses for accrued interest receivable for loans that participated in moratorium programs amounted to $136 thousand and $144 thousand, respectively, and is included in accrued interest receivable in the statement of financial condition.

Other assets at June 30, 2023 and December 31, 2022 consist of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Prepaid expenses	$	68,346	$	54,875
Other repossessed assets	4,004		4,617
Accounts receivable and other assets	54,160		61,420
	$	126,510	$	120,912

Prepaid expenses amounting to $68.3 million at June 30, 2023, include prepaid municipal, property and income taxes aggregating to $59.8 million. At December 31, 2022 prepaid expenses amounted to $54.9 million, including prepaid municipal, property and income taxes aggregating to $47.2 million.

Other repossessed assets totaled $4.0 million and $4.6 million at June 30, 2023 and December 31, 2022, respectively, and consist of repossessed automobiles, which are recorded at their net realizable value.

DEPOSITS AND RELATED INTEREST

6 Months Ended

Jun. 30, 2023

DEPOSITS AND RELATED INTEREST

Total deposits, including related accrued interest payable, as of June 30, 2023 and December 31, 2022 consist of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Non-interest-bearing demand deposits	$	2,559,576	$	2,630,458
Interest-bearing savings and demand deposits	4,671,271		4,774,265
Retail certificates of deposit	1,064,766		979,545
Institutional certificates of deposit	242,413		172,725
Total core deposits	8,538,026		8,556,993
Brokered deposits	—		11,371
Total deposits	$	8,538,026	$	8,568,364

At June 30, 2023 and December 31, 2022, the aggregate amount of uninsured deposits was $3.655 billion and $3.498 billion, respectively.

The weighted average interest rate of OFG’s deposits was 0.61% and 0.41%, respectively, at June 30, 2023 and December 31, 2022. Interest expense for the quarters and six month periods ended June 30, 2023 and 2022 was as follows:


	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2023		2022		2023		2022
					(In thousands)
Demand and savings deposits	$	10,423	$	5,101	$	19,092	$	10,077
Certificates of deposit	5,493		1,843		9,321		3,908
	$	15,916	$	6,944	$	28,413	$	13,985

At June 30, 2023 and December 31, 2022, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $568.8 million and $384.4 million, respectively.

At June 30, 2023 and December 31, 2022, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $361.0 million and $284.2 million, respectively. These public funds were collateralized with commercial loans and securities amounting to $394.5 million and $367.3 million at June 30, 2023 and December 31, 2022, respectively.

Excluding accrued interest of approximately $981 thousand and $682 thousand, the scheduled maturities of certificates of deposit at June 30, 2023 and December 31, 2022 are as follows:


June 30, 2023
	Period-end amount		Uninsured amount
	(In thousands)
Within one year:
Three months or less	$	187,529	$	15,557
Over 3 months through 6 months	156,305		48,541
Over 6 months through 1 year	317,407		83,665
	661,241		147,763
Over 1 through 2 years	436,645		181,660
Over 2 through 3 years	126,491		17,268
Over 3 through 4 years	33,355		3,839
Over 4 through 5 years	47,128		2,286
Over 5 years	1,338		—
	$	1,306,198	$	352,816

December 31, 2022
	Period-end amount		Uninsured amount
	(In thousands)

Within one year:
Three months or less	$	238,776	$	29,503
Over 3 months through 6 months	152,940		18,238
Over 6 months through 1 year	262,976		59,093
	654,692		106,834
Over 1 through 2 years	279,034		64,109
Over 2 through 3 years	136,732		26,481
Over 3 through 4 years	51,505		8,276
Over 4 through 5 years	39,888		2,230
Over 5 years	1,108		—
	$	1,162,959	$	207,930

The tables of scheduled maturities of certificates of deposits above includes individual retirement accounts and, for the December 31, 2022 period-end, brokered deposits.

The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $542 thousand and $495 thousand as of June 30, 2023 and December 31, 2022, respectively.

BORROWINGS AND RELATED INTEREST

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

BORROWINGS AND RELATED INTEREST

Advances from the Federal Home Loan Bank of New York

Advances are received from the FHLB under an agreement whereby OFG is required to maintain a minimum amount of qualifying collateral with a fair value of at least 110% of the outstanding advances. At June 30, 2023 and December 31, 2022, these advances were secured by mortgage and commercial loans amounting to $937.9 million and $951.1 million, respectively. Also, at June 30, 2023 and December 31, 2022, OFG had an additional borrowing capacity with the FHLB of $431.0 million and $628.1 million, respectively. At June 30, 2023 and December 31, 2022, the weighted average remaining maturity of FHLB advances was 1.7 years and 3 days, respectively. The original terms of the outstanding short-term and long-term advances at June 30, 2023 are 1 month and 2 years, respectively.

The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $861 thousand and $103 thousand at June 30, 2023 and December 31, 2022, respectively:


	June 30,		December 31,
	2023		2022
	(In thousands)
Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 5.54% (December 31, 2022 - 4.46%)	$	25,646	$	26,613
Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 4.52%	200,000		—
	$	225,646	$	26,613

Advances from FHLB mature as follows:


	June 30,		December 31,
	2023		2022
	(In thousands)
Under 90 days	$	25,646	$	26,613
Over one to three years	200,000		—


	$	225,646	$	26,613

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES OFG is subject to the provisions of the Puerto Rico Internal Revenue Code of 2011, as amended (the “PR Code”). The PR Code imposes a maximum statutory corporate tax rate of 37.5%. OFG has operations in the U.S. through its wholly owned subsidiaries OPC, OFG Ventures, and OFG USA LLC (“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. OPC is subject to Florida state taxes, OFG USA is subject to North Carolina state taxes, and current investments in OFG Ventures are subject to state taxes in Missouri. In addition, OFG’s wholly owned subsidiary, OFG Reinsurance Ltd., is tax exempt in Grand Cayman. Effective December 30, 2022, OFG sold its pension plan administration operations in OPC and thereafter OPC ceased its operations. As of June 30, 2023 and December 31, 2022, OFG’s net deferred tax asset, net of a valuation allowance of $8.4 million and $9.1 million, respectively, amounted to $20.3 million and $55.5 million, respectively. The decrease in valuation allowance of $695 thousand was mainly related to OFG’s operations at the holding company level. In assessing the realizability of the deferred tax asset, management considers whether it is more likely than not that some portion or the entire deferred tax asset will not be realized. The ultimate realization of the deferred tax asset is dependent upon the generation of future income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future income, and tax planning strategies in making this assessment. Based upon the assessment of positive and negative evidence, the level of historical taxable income, projections for future taxable income over the periods in which the deferred tax asset are deductible, and provisions of certain closing agreements, management believes it is more likely than not that OFG will realize the benefits of these deductible differences, net of the existing valuation allowances, at June 30, 2023. The amount of the deferred tax asset that is considered realizable could be reduced in the near term if there are changes in estimates of future taxable income. OFG maintained an effective tax rate (“ETR”) lower than the statutory rate for the six month periods ended June 30, 2023 and 2022 of 30.9% and 31.3%, respectively, the decrease is mainly related to an exempt income and a discrete tax windfall on stock options recognized during the period. The expected ETR for 2023 is 31.4%. OFG classifies unrecognized tax benefits in other liabilities. These gross unrecognized tax benefits would affect the ETR if realized. At June 30, 2023, the amount of unrecognized tax benefits was $901 thousand (December 31, 2022 - $867 thousand). Income tax expense for the quarters ended June 30, 2023 and 2022 was $21.6 million and $18.9 million, respectively. Income tax expense for the six month periods ended June 30, 2023 and 2022, was $40.5 million and $35.5 million, respectively.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
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-Publisher FASB
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS

6 Months Ended

Jun. 30, 2023

Capital Disclosure [Abstract]

Regulatory Capital Requirements

OFG (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and Puerto Rico banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on OFG’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, OFG and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. OFG and the Bank have elected to exclude accumulated comprehensive income related to both available for sale securities and derivative valuations from Common Equity Tier 1 Capital.

As of June 30, 2023 and December 31, 2022, OFG and the Bank met all capital adequacy requirements to which they are subject. As of June 30, 2023 and December 31, 2022, 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 June 30, 2023 and December 31, 2022 were as follows:


	Actual				Minimum Capital Requirement (including capital conservation buffer)				Minimum to be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
OFG Bancorp Ratios
As of June 30, 2023
Total capital to risk-weighted assets	$	1,183,793	15.29	%	$	813,008	10.50	%	$	774,293	10.00	%
Tier 1 capital to risk-weighted assets	$	1,086,587	14.03	%	$	658,149	8.50	%	$	619,435	8.00	%
Common equity tier 1 capital to risk-weighted assets	$	1,086,587	14.03	%	$	542,005	7.00	%	$	503,291	6.50	%
Tier 1 capital to average total assets	$	1,086,587	10.85	%	$	400,453	4.00	%	$	500,566	5.00	%
As of December 31, 2022
Total capital to risk-weighted assets	$	1,132,658	14.89	%	$	798,574	10.50	%	$	760,547	10.00	%
Tier 1 capital to risk-weighted assets	$	1,037,385	13.64	%	$	646,465	8.50	%	$	608,437	8.00	%
Common equity tier 1 capital to risk-weighted assets	$	1,037,385	13.64	%	$	532,383	7.00	%	$	494,355	6.50	%
Tier 1 capital to average total assets	$	1,037,385	10.36	%	$	400,445	4.00	%	$	500,557	5.00	%


	Actual				Minimum Capital Requirement (including capital conservation buffer)				Minimum to be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
Bank Ratios
As of June 30, 2023
Total capital to risk-weighted assets	$	1,094,407	14.22	%	$	808,074	10.50	%	$	769,594	10.00	%
Tier 1 capital to risk-weighted assets	$	997,781	12.97	%	$	654,155	8.50	%	$	615,676	8.00	%
Common equity tier 1 capital to risk-weighted assets	$	997,781	12.97	%	$	538,716	7.00	%	$	500,236	6.50	%
Tier 1 capital to average total assets	$	997,781	10.07	%	$	396,512	4.00	%	$	495,640	5.00	%
As of December 31, 2022
Total capital to risk-weighted assets	$	1,028,126	13.61	%	$	793,124	10.50	%	$	755,356	10.00	%
Tier 1 capital to risk-weighted assets	$	933,494	12.36	%	$	642,053	8.50	%	$	604,285	8.00	%
Common equity tier 1 capital to risk-weighted assets	$	933,494	12.36	%	$	528,749	7.00	%	$	490,981	6.50	%
Tier 1 capital to average total assets	$	933,494	9.42	%	$	396,525	4.00	%	$	495,656	5.00	%

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY

6 Months Ended

Jun. 30, 2023

STOCKHOLDERS’ EQUITY

Common Stock

At both June 30, 2023 and December 31, 2022, 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 June 30, 2023 and December 31, 2022, accumulated common stock issuance costs charged against additional paid-in capital amounted to $13.6 million.

Legal Surplus

The Puerto Rico Banking Act requires that a minimum of 10% of the Bank’s net income for the year be transferred to a reserve fund until such fund (legal surplus) equals the total paid-in capital on common and preferred stock. At June 30, 2023 and December 31, 2022, the Bank’s legal surplus amounted to $142.6 million and $133.9 million, respectively. During the six month period ended June 30, 2023, OFG transferred $8.7 million 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 2022, OFG announced the approval by the Board of Directors of a stock repurchase program to purchase $100 million of its outstanding shares of common stock. The shares of common stock repurchased are held by OFG as treasury shares. During the six month period ended June 30, 2023, OFG repurchased 670,099 shares for a total of $16.5 million at an average price of $24.57 per share. During the six month period ended June 30, 2022, OFG repurchased 2,351,868 shares for a total of $64.1 million, at an average price of $27.04 per share.

At June 30, 2023, the number of shares that may yet be purchased under the $100 million program is estimated at 744,745 and was calculated by dividing the remaining balance of $19.4 million by $26.08 (closing price of OFG’s common stock at June 30, 2023).

OFG did not repurchase any shares of its common stock during the six month periods ended June 30, 2023 and 2022, other than through its publicly announced stock repurchase program.

The activity in connection with common shares held in treasury by OFG for the six month periods ended June 30, 2023 and 2022 is set forth below:


	Six-Month Period Ended June 30,
	2023			2022
	Shares	Dollar Amount		Shares	Dollar Amount
	(In thousands, except shares data)
Beginning of period	12,303,859	$	211,135	10,248,882	$	150,572
Common shares used upon lapse of restricted stock units and options	(164,911)	(1,372)		(269,239)	(3,544)
Common shares repurchased as part of the stock repurchase programs	670,099	16,467		2,351,868	64,110
End of period	12,809,047	$	226,230	12,331,511	$	211,138

ACCUMULATED OTHER COMPREHENSIVE LOSS

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss, net of income taxes, as of June 30, 2023 and December 31, 2022 consisted of:


	June 30,		December 31,
	2023		2022
	(In thousands)
Unrealized loss on securities available-for-sale	$	(105,304)	$	(110,036)
Income tax effect of unrealized loss on securities available-for-sale	15,665		16,373
Net unrealized loss on securities available-for-sale	(89,639)		(93,663)
Unrealized gain on cash flow hedges	120		406
Income tax effect of unrealized gain on cash flow hedges	(45)		(152)
Net unrealized gain on cash flow hedges	75		254
Accumulated other comprehensive loss, net of income taxes	$	(89,564)	$	(93,409)

The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30, 2023
	Net unrealized loss on securities available-for-sale		Net unrealized gain on cash flow hedges		Accumulated other comprehensive loss
	(In thousands)
Beginning balance	$	(78,512)	$	172	$	(78,340)
Other comprehensive loss before reclassifications	(9,980)		(2,525)		(12,505)
Amounts reclassified out of accumulated other comprehensive loss	(1,147)		2,428		1,281
Other comprehensive loss	(11,127)		(97)		(11,224)
Ending balance	$	(89,639)	$	75	$	(89,564)


	Six-Month Period Ended June 30, 2023
	Net unrealized loss on securities available-for-sale		Net unrealized gain on cash flow hedges		Accumulated other comprehensive loss
	(In thousands)
Beginning balance	$	(93,663)	$	254	$	(93,409)
Other comprehensive income (loss) before reclassifications	5,169		(3,198)		1,971
Amounts reclassified out of accumulated other comprehensive (loss) income	(1,145)		3,019		1,874
Other comprehensive income (loss)	4,024		(179)		3,845
Ending balance	$	(89,639)	$	75	$	(89,564)


	Quarter Ended June 30, 2022
	Net unrealized loss on securities available-for-sale		Net unrealized loss on cash flow hedges		Accumulated other comprehensive loss
	(In thousands)
Beginning balance	$	(20,522)	$	(116)	$	(20,638)
Other comprehensive (loss) income before reclassifications	(29,086)		36		(29,050)
Amounts reclassified out of accumulated other comprehensive income	2		184		186
Other comprehensive (loss) income	(29,084)		220		(28,864)
Ending balance	$	(49,606)	$	104	$	(49,502)


	Six-Month Period Ended June 30, 2022
	Net unrealized loss on securities available-for-sale		Net unrealized gain on cash flow hedges		Accumulated other comprehensive loss
	(In thousands)
Beginning balance	$	5,663	$	(503)	$	5,160

Other comprehensive (loss) income before reclassifications	(55,273)		230		(55,043)
Amounts reclassified out of accumulated other comprehensive income	4		377		381
Other comprehensive (loss) income	(55,269)		607		(54,662)
Ending balance	$	(49,606)	$	104	$	(49,502)

The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and six month periods ended June 30, 2023 and 2022:


	Amount reclassified out of accumulated other comprehensive loss Quarter Ended June 30,				Affected Line Item in Consolidated Statement of Operations

	2023		2022
	(In thousands)
Cash flow hedges:
Interest-rate contracts	$	2,428	$	184		Net interest expense
Available-for-sale securities:
Loss on sale of investments	(1,149)		—			Net loss on sale of securities
Tax effect from changes in tax rates	2		2			Income tax expense
	$	1,281	$	186

					Affected Line Item in Consolidated Statement of Operations
	Amount reclassified out of accumulated other comprehensive loss Six-Month Period Ended June 30,

	2023		2022
	(In thousands)
Cash flow hedges:
Interest-rate contracts	$	3,019	$	377		Net interest expense
Available-for-sale securities:
Loss on sale of investments	(1,149)		—			Net loss on sale of securities
Tax effect from changes in tax rates	4		4			Income tax expense
	$	1,874	$	381

EARNINGS PER COMMON SHARE

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

The calculation of earnings per common share for the quarters and six month periods ended June 30, 2023 and 2022 is as follows:


	Quarter Ended June 30,				Six-Month Ended June 30,
	2023		2022		2023		2022
	(In thousands, except per share data)




Income available to common shareholders	$	44,173	$	40,432	$	90,402	$	77,953



Average common shares outstanding	47,266		48,053		47,432		48,508
Effect of dilutive securities:
Average potential common shares-options	224		336		284		425

Total weighted average common shares outstanding and equivalents	47,490		48,389		47,716		48,933
Earnings per common share - basic	$	0.93	$	0.84	$	1.91	$	1.61
Earnings per common share - diluted	$	0.93	$	0.84	$	1.89	$	1.59

For the quarters ended June 30, 2023 and 2022, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to 147,878 and 1,292, respectively. For the six month periods

ended June 30, 2023 and 2022, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to 128,681 and 1,138, respectively.

During the first quarter of 2023, OFG increased its quarterly common stock cash dividend to $0.22 per share from $0.20 per share at December 31, 2022.

GUARANTEES

6 Months Ended

Jun. 30, 2023

Guarantees [Abstract]

GUARANTEES

At both June 30, 2023 and December 31, 2022, the notional amount of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $24.9 million.

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. On May 1, 2023, OFG and a third-party servicer terminated a subservicing agreement by mutual agreement pursuant to which OFG transferred the servicing of a portion of the subserviced loans to the third-party servicer, eliminating the recourse provisions to that program.

At June 30, 2023 and December 31, 2022, the unpaid principal balance of residential mortgage loans sold subject to credit recourse under FHLMC's and FNMA's residential mortgage loan sales programs was $103.5 million and $110.9 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 June 30, 2023, OFG's liability for estimated credit losses related to loans sold with credit recourse amounted to $150 thousand (December 31, 2022– $147 thousand).

The following table shows the changes in OFG’s liability for estimated losses from these credit recourse agreements, included in the consolidated statements of financial condition during the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Balance at beginning of period	$	141	$	294	$	147	$	205
Net recoveries (charge-offs/terminations)	9		(120)		3		(31)
Balance at end of period	$	150	$	174	$	150	$	174

The expected loss, which represents the amount expected to be lost on a given loan, considers the probability of default and loss severity. The probability of default represents the probability that a loan in good standing would become 120 days delinquent, in which case OFG is obligated to repurchase the loan.

If a borrower defaults, pursuant to the credit recourse provided, OFG is required to repurchase the loan or reimburse the third-party investor for the incurred loss. The maximum potential amount of future payments that OFG would be required to make under the recourse arrangements is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. During the quarters ended June 30, 2023 and 2022, OFG repurchased $545 thousand and $711 thousand, respectively, in mortgage loans. During the six month periods ended June 30, 2023 and 2022, OFG repurchased $610 thousand and $1.4 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 which are exchanged for FNMA and GNMA mortgage-backed securities, which are generally sold to private investors, or are sold directly to FNMA or other private investors for cash. As required under such mortgage-backed securities programs, quality review procedures are performed by OFG to ensure that asset guideline qualifications are met. To the extent the loans do not meet specified characteristics, OFG may be required to repurchase such loans or indemnify for losses and bear any subsequent loss related to the loans. During the quarter ended June 30, 2023, OFG repurchased $4.2 million (June 30, 2022 – $7.5 million) of unpaid principal balance in mortgage loans, excluding mortgage loans subject to the credit recourse provision. During the six month period ended June 30, 2023, OFG repurchased $6.4 million (June 30, 2022 –$15.3 million)

of unpaid principal balance in mortgage loans, excluding mortgage loans subject to such credit recourse provision. At June 30, 2023 and December 31, 2022, OFG had a $1.0 million and a $1.4 million liability, respectively, for the estimated credit losses related to these loans.

During the quarters ended June 30, 2023 and 2022, OFG recognized $141 thousand and $21 thousand in gains, net of reserves, respectively, from the repurchase of residential mortgage loans sold subject to credit recourse, and $372 thousand and $53 thousand, respectively, in losses from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties. During the six month periods ended June 30, 2023 and 2022, OFG recognized $147 thousand and $121 thousand, respectively, in gains from the repurchase of residential mortgage loans sold subject to credit recourse, and $121 thousand and $51 thousand, respectively, in losses from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties.

At June 30, 2023, OFG serviced $5.6 billion (December 31, 2022 - $5.8 billion) in mortgage loans for third parties. 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 June 30, 2023, the outstanding balance of funds advanced by OFG under such mortgage loan servicing agreements was approximately $7.1 million (December 31, 2022 - $7.8 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.

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2023

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 June 30, 2023 and December 31, 2022 were as follows:


	June 30,		December 31,
	2023		2022
	(In thousands)
Commitments to extend credit	$	1,281,775	$	1,403,118
Commercial letters of credit	344		1,082

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 June 30, 2023 and December 31, 2022, 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 June 30, 2023 and December 31, 2022, is as follows:


	June 30,		December 31,
	2023		2022
	(In thousands)
Standby letters of credit and financial guarantees	$	24,892	$	24,749
Loans sold with recourse	103,524		110,891

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 June 30, 2023 and December 31, 2022, the allowance for credit losses for off-balance sheet credit exposures corresponding to commitments to extend credit and standby letters of credit amounted to $1.3 million and $734 thousand, respectively, and is included in other liabilities in the statement of financial condition.

At June 30, 2023 and December 31, 2022, OFG maintained other non-credit commitments amounting to $21.7 million and $21.5 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. Some of our technology investments are table stakes and require to continuously upgrade our systems. Others require us to focus our technology on investments that drive our strategy, namely digital, data analytics, cloud migration, cyber security, and our sales and service capabilities. At June 30, 2023 and December 31, 2022, OFG had commitments for capital expenditures in technology amounting to $7.0 million and $8.6 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 June 30, 2023 and December 31, 2022, this accrued liability amounted to $1.3 million and $2.4 million, respectively. OFG continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established.

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

6 Months Ended

Jun. 30, 2023

Lessee Disclosure [Abstract]

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 2024; all are operating leases.

Operating Lease Cost


	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2023		2022		2023		2022		Statement of Operations Classification
	(In thousands)
Lease costs	$	2,608	$	2,663	$	5,208	$	5,218	Occupancy and equipment
Variable lease costs	347		285		687		832		Occupancy and equipment
Short-term lease cost	148		282		305		537		Occupancy and equipment
Lease income	(17)		(53)		(54)		(129)		Occupancy and equipment
Total lease cost	$	3,086	$	3,177	$	6,146	$	6,458

Operating Lease Assets and Liabilities


	June 30,		December 31,
	2023		2022		Statement of Financial Condition Classification
	(In thousands)
Right-of-use assets	$	21,840	$	25,363	Operating lease right-of-use assets
Lease Liabilities	$	24,031	$	27,370	Operating leases liabilities


	June 30,		December 31,
	2023		2022
	(In thousands)
Weighted-average remaining lease term	4.9 years		5.1 years
Weighted-average discount rate	6.9	%	6.8	%

Future minimum payments for operating leases with initial or remaining terms of one year or more as of June 30, 2023 were as follows:


	Minimum Rent
As of June 30, 2023	(In thousands)
2024	$	4,676
2025	7,402
2026	5,244
2027	3,199
2028	2,377
Thereafter	5,773
Total lease payments	$	28,671
Less imputed interest	4,640
Present value of lease liabilities	$	24,031

OFG, as lessor, leases and subleases real property to tenants under operating leases. As of June 30, 2023, no material lease concessions have been granted to tenants. As of June 30, 2023, OFG, as lessee, has not requested any lease concessions.

FAIR VALUE OF FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

OFG follows the fair value measurement framework under U.S. Generally Accepted Accounting Principles (“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. OFG holds one security categorized as other debt that is classified as Level 3. The estimated fair value of this security is determined by using an adjusted third-party model to calculate the present value of projected future cash flows. The assumptions are highly uncertain and include primarily market discount rates and current spread. The assumptions used are drawn from similar securities that are actively traded in the market and have similar risk characteristics. The valuation is performed on a quarterly basis.

Derivative instruments

The fair value of the interest rate swaps is largely a function of the financial market’s expectations regarding the future direction of interest rates. Accordingly, current market values are not necessarily indicative of the future impact of derivative instruments on earnings. This will depend, for the most part, on the shape of the yield curve, the level of interest rates, as well as the expectations for rates in the future. The fair value of most of these derivative instruments is based on observable market parameters, which include discounting the instruments’ cash flows using the U.S. dollar LIBOR-based discount rates (or its fallback benchmark when applicable), and also applying yield curves that account for the industry sector and the credit rating of the counterparty and/or OFG. Certain other derivative instruments with limited market activity are valued using externally developed models that consider unobservable market parameters. Based on their valuation methodology, derivative instruments are classified as Level 2.

Servicing assets

Servicing assets do not trade in an active market with readily observable prices. Servicing assets are priced using a discounted cash flow model. The valuation model considers servicing fees, portfolio characteristics, prepayment assumptions, delinquency rates, late charges, other ancillary revenues, cost to service and other economic factors. Due to the unobservable nature of certain valuation inputs, the servicing rights are classified as Level 3.

Foreclosed real estate

Foreclosed real estate includes real estate properties securing residential mortgage and commercial loans. The fair value of foreclosed real estate may be determined using an external appraisal, broker price opinion or an internal valuation. These foreclosed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals.

Other repossessed assets

Other repossessed assets are mainly composed of repossessed automobiles. The fair value of the repossessed automobiles may be determined using internal valuation and an external appraisal. These repossessed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals.

Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below:


	June 30, 2023
	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
	(In thousands)
Recurring fair value measurements:
Investment securities available-for-sale	$	748	$	1,140,677	$	420	$	1,141,845
Trading securities	—		13		—		13
Money market investments	3,427		—		—		3,427
Derivative assets	—		120		—		120
Servicing assets	—		—		49,966		49,966

	$	4,175	$	1,140,810	$	50,386	$	1,195,371
Non-recurring fair value measurements:
Collateral dependent loans	$	—	$	—	$	9,945	$	9,945
Foreclosed real estate	—		—		10,639		10,639
Other repossessed assets	—		—		4,004		4,004
Mortgage loans held for sale	—		—		11,397		11,397
Other loans held for sale	$	—	$	—	$	18,899	18,899
	$	—	$	—	$	54,884	$	54,884


	December 31, 2022
	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
	(In thousands)
Recurring fair value measurements:
Investment securities available-for-sale	$	309,133	$	1,103,237	$	406	$	1,412,776
Trading securities	—		9		—		9
Money market investments	4,161		—		—		4,161
Derivative assets	—		406		—		406
Servicing assets	—		—		50,921		50,921

	$	313,294	$	1,103,652	$	51,327	$	1,468,273
Non-recurring fair value measurements:
Collateral dependent loans	$	—	$	—	$	8,805	$	8,805
Foreclosed real estate	—		—		11,214		11,214
Other repossessed assets	—		—		4,617		4,617
Mortgage loans held for sale	—		—		19,499		19,499
Other loans held for sale	$	—	$	—	$	21,088	21,088
	$	—	$	—	$	65,223	$	65,223

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 during the periods ended June 30, 2023 and December 31, 2022, and excludes nonrecurring fair value measurements of assets no longer outstanding as of the reporting date.

The tables below present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended June 30, 2023 and 2022:

Level 3 Instruments Only


	Quarter Ended June 30,
	2023						2022
	Other debt securities available for sale		Servicing Assets		Total		Other debt securities available for sale		Servicing Assets		Total
	(In thousands)
Balance at beginning period	$	413	$	49,345	$	49,758	$	1,554	$	49,446	$	51,000
New instruments acquired	—		791		791		—		1,150		1,150

Principal repayments and amortization	—		(1,085)		(1,085)		—		(1,478)		(1,478)

Gains included in earnings			915		915		—		162		162
Gains included in other comprehensive income	7		—		7		27		—		27
Balance at end of period	$	420	$	49,966	$	50,386	$	1,581	$	49,280	$	50,861

	Six-Month Period Ended June 30,
	2023						2022
	Other debt securities available for sale		Servicing Assets		Total		Other debt securities available for sale		Servicing Assets		Total
	(In thousands)
Balance at beginning period	$	406	$	50,921	$	51,327	$	1,530	$	48,973	$	50,503
New instruments acquired	—		1,365		1,365		—		2,269		2,269

Principal repayments and amortization	—		(2,150)		(2,150)		—		(2,977)		(2,977)

(Losses) gains included in earnings	—		(170)		(170)		—		1,015		1,015
Gains included in other comprehensive income	14		—		14		51		—		51
Balance at end of period	$	420	$	49,966	$	50,386	$	1,581	$	49,280	$	50,861

There were no transfers in and/or out of Level 3 for financial instruments measured at fair value on a recurring basis during the quarters and six month periods ended June 30, 2023 and 2022.

Servicing assets gains (losses) included in earnings during the quarters and six month periods ended June 30, 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 7 – Servicing Assets.

During the quarters and six month periods ended June 30, 2023 and 2022, there were purchases and sales of assets and liabilities measured at fair value on a recurring basis.

The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at June 30, 2023 and December 31, 2022:


	June 30, 2023
	Fair Value		Valuation Technique	Unobservable Input	Range		Weighted Average
	(In thousands)

Other debt securities available-for-sale	$	420	Cash flow valuation	Credit Rating	Baa1 - Baa3		Baa2
				Probability of Default Rate	0.15% - 2.12%		0.15	%
				Recovery Rate	34.73	%	34.73	%

Servicing assets	$	49,966	Cash flow valuation	Constant prepayment rate	3.49% - 21.68%		5.88	%
				Discount rate	10.00% - 15.50%		11.45	%

Collateral dependent loans	$	9,945	Fair value of property or collateral	Appraised value less disposition costs	10.20% - 33.20%		16.81	%

Foreclosed real estate	$	10,639	Fair value of property or collateral	Appraised value less disposition costs	10.20% - 33.20%		11.40	%

Other repossessed assets	$	4,004	Fair value of property or collateral	Estimated net realizable value less disposition costs	29.00% - 78.00%		63.87	%

Mortgage loans held for sale	$	11,397	Fair value of property	Estimated net realizable value	94.26% - 101.44%		98.31	%

Other loans held for sale	$	18,899	Bids or sales contract prices	Estimated market value	100.00% - 103.20%		100.80	%


	December 31, 2022
	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
	(In thousands)

Other debt securities available-for-sale	$	406	Cash flow valuation	Credit Rating	Baa1 - Baa3	Baa2
				Probability of Default Rate	0.15% - 2.12%	0.15	%
				Recovery Rate	34.73%	34.73	%

Servicing assets	$	50,921	Cash flow valuation	Constant prepayment rate	3.43% - 21.20%	5.66	%
				Discount rate	10.00% - 15.50%	11.45	%

Collateral dependent loans	$	8,805	Fair value of property or collateral	Appraised value less disposition costs	10.20% - 51.20%	17.11	%

Foreclosed real estate	$	11,214	Fair value of property or collateral	Appraised value less disposition costs	10.20% - 33.20%	11.81	%

Other repossessed assets	$	4,617	Fair value of property or collateral	Estimated net realizable value less disposition costs	22.00% - 80.00%	58.49	%

Mortgage loans held for sale	$	19,499	Fair value of property	Estimated net realizable value	83.25% - 102.43%	71.86%

Other loans held for sale	$	21,088	Bids or sales contract prices	Estimated market value	100.00% - 103.20%	74.65%

Information about Sensitivity to Changes in Significant Unobservable Inputs

Other debt security available for sale – The significant unobservable inputs used in the fair value measurement of one of OFG’s other debt securities is a DCF methodology. DCF is a valuation method that uses the concept of the time value of money. The methodology uses the future cash flows discounted through a yield to obtain a net present value. Assumptions applied in the model are obtained from Moody’s Default Trends.

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 are 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 June 30, 2023 and December 31, 2022 was as follows:


	June 30,				December 31,
	2023				2022
	Fair Value		Carrying Value		Fair Value		Carrying Value
	(In thousands)

Financial Assets:
Level 1
Cash and cash equivalents	$	798,973	$	798,973	$	550,307	$	550,307
Restricted cash	$	—	$	—	$	157	$	157
Investment securities available-for-sale	$	748	$	748	$	309,133	$	309,133
Level 2
Financial Assets:
Trading securities	$	13	$	13	$	9	$	9
Investment securities available-for-sale	$	1,140,677	$	1,140,677	$	1,103,237	$	1,103,237
Investment securities held-to-maturity	$	461,378	$	525,413	$	469,186	$	535,070
Federal Home Loan Bank (FHLB) stock	$	15,642	$	15,642	$	6,005	$	6,005
Equity securities	$	20,304	$	20,304	$	17,662	$	17,662
Derivative assets	$	120	$	120	$	406	$	406


Level 3
Financial Assets:
Investment securities available for sale	$	420	$	420	$	406	$	406
Total loans (including loans held-for-sale)	$	6,782,477	$	6,988,244	$	6,467,878	$	6,723,236
Accrued interest receivable	$	63,357	$	63,357	$	62,402	$	62,402
Servicing assets	$	49,966	$	49,966	$	50,921	$	50,921
Accounts receivable and other assets	$	54,040	$	54,040	$	61,014	$	61,014
Financial Liabilities:
Deposits	$	8,537,018	$	8,538,026	$	8,556,300	$	8,568,364

Advances from FHLB	$	223,434	$	226,507	$	26,716	$	26,716
Other borrowings	$	—	$	—	$	318	$	318

Accrued expenses and other liabilities	$	107,287	$	107,287	$	124,999	$	124,999

The following methods and assumptions were used to estimate the fair values of significant financial instruments at June 30, 2023 and December 31, 2022:

•Cash and cash equivalents (including money market investments and time deposits with other banks), restricted cash, 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 from contracted pricing providers, or market prices provided 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. Equity securities do not have readily available fair values and are measured at cost, less any impairment. The estimated fair value of the convertible note in other debt securities available for sale is determined by using an adjusted third-party cash flow valuation model to calculate the present value of projected future cash flows. The assumptions used, which are highly uncertain and require a high degree of judgment, include primarily market discount rates, current spreads, duration, leverage, default, and loss rates. The assumptions used are drawn from a wide array of data sources, including the performance of the collateral underlying each deal. The valuation, which is obtained at least on a quarterly basis, is analyzed and its assumptions are evaluated and incorporated in either an internal-based valuation model, when deemed necessary, or compared to counterparties’ prices and agreed by management.

•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 values of the derivative instruments, which include interest rate swaps and forward-settlement swaps, are based on the net discounted value of the contractual projected cash flows of both the pay-fixed receive-variable legs of the contracts. The projected cash flows are based on the forward yield curve and discounted using current estimated market rates.

•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 type, such as mortgage, commercial, consumer, auto loans and leases. Each loan segment is further segmented into fixed and adjustable interest rates. The fair value is calculated by discounting contractual cash flows, adjusted for prepayment estimates (voluntary and involuntary), if any, using estimated current market discount rates that reflect the credit and interest rate risk inherent in the loan.

•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 advances from FHLB is based on the discounted value of the contractual cash flows using current estimated market discount rates for borrowings with similar terms, remaining maturities and put dates.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Banking and Thrift, Interest [Abstract]

BANKING AND FINANCIAL SERVICE REVENUES

6 Months Ended

Jun. 30, 2023

BANKING AND FINANCIAL SERVICE REVENUES

The following table presents the major categories of banking and financial service revenues for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2023		2022		2023		2022
	(In thousands)				(In thousands)
Banking service revenues:
Electronic banking fees	$	13,603	$	14,080	$	26,969	$	27,174
Checking accounts fees	2,184		2,225		4,404		4,370
Savings accounts fees	327		326		660		605
Credit life commissions	119		291		224		595
Branch service commissions	324		300		746		660
Servicing and other loan fees	702		669		1,584		1,806
International fees	179		246		362		485
Miscellaneous income	2		4		4		8
Total banking service revenues	17,440		18,141		34,953		35,703

Wealth management revenue:
Insurance income	4,169		3,818		7,539		6,852
Broker fees	1,797		1,714		3,580		3,603
Trust fees	2,228		2,566		4,152		5,307
Retirement plan and administration fees	—		172		43		365

Total wealth management revenue	8,194		8,270		15,314		16,127

Mortgage banking activities:
Net servicing fees	4,650		3,839		7,493		8,202
Net gains on sale of mortgage loans and valuation	790		993		1,559		2,308
Net (loss) gain on repurchased loans and other	(215)		(29)		71		75
Total mortgage banking activities	5,225		4,803		9,123		10,585
Total banking and financial service revenues	$	30,859	$	31,214	$	59,390	$	62,415

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

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.

Electronic banking fees are credit and debit card processing services, use of 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.

Other income as credit life and branch service commissions, servicing and other loan fees, international fees, and miscellaneous income recognized as banking services revenue are out of the scope of ASC 606 – Revenue from Contracts with Customers.

Wealth Management Revenue

Insurance income from commissions and sale of annuities are recorded once the sale has been completed.

Brokers 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 service provider who provides 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, an IRA trust, and retirement plans, which include investment management, payment of distributions, if any, safekeeping, custodial services of plan assets, servicing of Trust officers, on-going due diligence of the Trust, recordkeeping of transactions, and investment advisory services provided to a registered investment company. 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 collected on a monthly basis once the administrative service has been completed. The monthly fee does not include future services.

Retirement plan and administration fees are revenues related to the payment received from the clients of OPC for assistance with the planning, design and administration of retirement plans, acting as third-party administrator for such plans, and daily record keeping services of retirement plans. Fees are collected once the stand-alone transaction was completed at trade date. Fees do not cover future services, as a result there is no need to allocate the amount received to any other service. Effective December 31, 2022, OFG sold its retirement plan administration business which was operated under OPC, which thereafter ceased its operations.

Mortgage Banking Activities

Mortgage banking activities as servicing fees, gain on sale of mortgage loans and valuation, and loss on repurchased loans and other are out of the scope of ASC 606.

BUSINESS SEGMENTS

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

BUSINESS SEGMENTS

OFG segregates its businesses into the following segments of business: Banking, Wealth Management, and Treasury. Management established the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. Other factors such as OFG’s organization, nature of its products, distribution channels and economic characteristics of the products were also considered in the determination of the reportable segments. OFG measures the performance of these segments based on pre-established goals of different financial parameters such as net income, net interest income, loan production, and fees generated. OFG’s methodology for allocating non-interest expenses among segments is based on several factors such as revenue, employee headcount, occupied space, dedicated services or time, among others. These factors are reviewed on a periodical 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 loans and leases, 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, OFG Reinsurance and OPC. The core operations of this segment are financial planning, money management and investment banking, securities brokerage services, investment advisory services, insurance, corporate and individual trust and retirement services, as well as retirement plan administration services up to December 31, 2022, when OPC sold its retirement plan administration business.

The Treasury segment encompasses all of OFG’s asset/liability management activities, such as purchases and sales of investment securities, interest rate risk management, derivatives, and borrowings. Intersegment sales and transfers, if any, are accounted for as if the sales or transfers were to third parties, that is, at current market prices.

Following are the results of operations and the selected financial information by operating segment for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30, 2023
	Banking		Wealth Management		Treasury		Total Major Segments		Eliminations		Consolidated Total
	(In thousands)
Interest income	$	139,999	$	6	$	22,841	$	162,846	$	(4,858)	$	157,988
Interest expense	(15,824)		—		(7,378)		(23,202)		4,858		(18,344)
Net interest income	124,175		6		15,463		139,644		—		139,644
Provision for (recapture of) credit losses	15,052		—		(8)		15,044		—		15,044
Non-interest income	23,354		7,868		(1,149)		30,073		—		30,073
Non-interest expenses	(83,876)		(4,138)		(874)		(88,888)		—		(88,888)
Intersegment revenue	575		—		—		575		(575)		—
Intersegment expenses	—		(380)		(195)		(575)		575		—
Income before income taxes	49,176		3,356		13,253		65,785		—		65,785
Income tax expense	21,577		20		15		21,612		—		21,612
Net income	$	27,599	$	3,336	$	13,238	$	44,173	$	—	$	44,173
Total assets	$	8,720,156	$	33,946	$	2,338,820	$	11,092,922	$	(1,061,375)	$	10,031,547


	Six-Month Period Ended June 30, 2023
	Banking		Wealth Management		Treasury		Total		Eliminations		Consolidated Total
	(In thousands)
Interest income	$	272,424	$	11	$	43,967	$	316,402	$	(9,429)	$	306,973
Interest expense	(28,205)		—		(12,656)		(40,861)		9,429		(31,432)
Net interest income	244,219		11		31,311		275,541		—		275,541
Provision for credit losses	24,457		—		32		24,489		—		24,489
Non-interest income	44,979		15,144		(1,149)		58,974		—		58,974
Non-interest expenses	(169,241)		(8,093)		(1,774)		(179,108)		—		(179,108)
Intersegment revenue	1,122		—		—		1,122		(1,122)		—
Intersegment expenses	—		(758)		(364)		(1,122)		1,122		—
Income before income taxes	$	96,622	$	6,304	$	27,992	$	130,918	$	—	$	130,918
Income tax expense	40,469		20		27		40,516		—		40,516
Net income	$	56,153	$	6,284	$	27,965	$	90,402	$	—	$	90,402
Total assets	$	8,720,156	$	33,946	$	2,338,820	$	11,092,922	$	(1,061,375)	$	10,031,547

Eliminations include interest income and expense for a borrowing by Oriental Overseas, an international banking entity

organized in Puerto Rico pursuant to the Puerto Rico International Banking Center Regulatory Act, as amended,

which operates as a unit within the Bank. It is included in the Treasury Segment with its corresponding interest expense, to fund its operations, from the Bank, which is included in the Banking Segment with its corresponding interest income, with an unpaid principal balance of $364.2 million and $465.3 million at June 30, 2023 and 2022, respectively, and is eliminated in the consolidation. Interest income is accrued on the unpaid principal balance. The increase in interest income and interest expense from the prior year period was mainly as a result of Federal Open Market Committee of the Board of Governors of the Federal Reserve System (“FRB”) federal funds rate increases and higher average borrowing balance.


	Quarter Ended June 30, 2022
	Banking		Wealth Management		Treasury		Total Major Segments		Eliminations		Consolidated Total
	(In thousands)
Interest income	$	111,653	$	5	$	11,228	$	122,886	$	(664)	$	122,222
Interest expense	(6,893)		—		(899)		(7,792)		664		(7,128)
Net interest income	104,760		5		10,329		115,094		—		115,094
Provision for credit losses	6,634		—		57		6,691		—		6,691
Non-interest income	27,802		8,408		—		36,210		—		36,210
Non-interest expenses	(79,656)		(4,795)		(807)		(85,258)		—		(85,258)
Intersegment revenue	543		—		—		543		(543)		—
Intersegment expenses	—		(376)		(167)		(543)		543		—
Income before income taxes	46,815		3,242		9,298		59,355		—		59,355
Income tax expense	18,580		—		343		18,923		—		18,923
Net income	$	28,235	$	3,242	$	8,955	$	40,432	$	—	$	40,432
Total assets	$	8,235,814	$	28,240	$	2,997,323	$	11,261,377	$	(1,013,603)	$	10,247,774


	Six-Month Period Ended June 30, 2022
	Banking		Wealth Management		Treasury		Total		Eliminations		Consolidated Total
	(In thousands)
Interest income	$	219,078	$	10	$	16,958	$	236,046	$	(875)	$	235,171
Interest expense	(13,904)		—		(1,854)		(15,758)		875		(14,883)
Net interest income	205,174		10		15,104		220,288		—		220,288
Provision for (recapture of) credit losses	8,344		—		(102)		8,242		—		8,242
Non-interest income	51,352		16,414		50		67,816		—		67,816
Non-interest expenses	(155,447)		(9,380)		(1,586)		(166,413)		—		(166,413)
Intersegment revenue	1,057		—		—		1,057		(1,057)		—
Intersegment expenses	—		(719)		(338)		(1,057)		1,057		—
Income before income taxes	$	93,792	$	6,325	$	13,332	$	113,449	$	—	$	113,449
Income tax expense	35,062		—		434		35,496		—		35,496
Net income	$	58,730	$	6,325	$	12,898	$	77,953	$	—	$	77,953
Total assets	$	8,235,814	$	28,240	$	2,997,323	$	11,261,377	$	(1,013,603)	$	10,247,774

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income	$ 44,173	$ 40,432	$ 90,402	$ 77,953

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Investments, Debt and Equity Securities [Abstract]

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations OFG is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. OFG operates through various subsidiaries including, a commercial bank, Oriental Bank (the “Bank”), a securities broker-dealer and investment adviser, Oriental Financial Services LLC (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), a captive reinsurance company, OFG Reinsurance Ltd (“OFG Reinsurance”), and OFG Ventures LLC (“OFG Ventures”), which holds investments. Through these subsidiaries and their respective divisions, OFG provides a wide range of banking and financial services such as commercial, consumer and mortgage lending, auto leasing and lending, financial planning, insurance sales, money management, investment banking and securities brokerage services, as well as corporate and individual trust services. Effective December 31, 2022, OFG sold its retirement plan administration business, which was operated under a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), which thereafter ceased its operations. The results for the six-month period ended June 30, 2022 included these operations. Basis of Presentation The accompanying unaudited consolidated financial statements of OFG have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission (“SEC”). Accordingly, these consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of OFG on a consolidated basis, and all such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in OFG’s annual report on Form 10-K for the fiscal year ended December 31, 2022 (the “2022 Form 10-K”). Operating results for six month period ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. OFG evaluated subsequent events through the filing date of its quarterly report on Form 10-Q with the SEC and has recorded or disclosed those material events or transactions as described within the accompanying consolidated financial statements and notes. Material estimates that are particularly susceptible to significant change in the near term relate mainly to the determination of the allowance for credit losses, the valuation of securities, the determination of income taxes, impairment of securities, and goodwill valuation and impairment assessment.
Recently Adopted Accounting Standards Updates and Accounting Standards Updated Not Yet Adopted	Recently Adopted Accounting Standards Updates Financial Instruments—Credit Losses Troubled Debt Restructurings and Vintage Disclosures. In March 2022, the Financial Accounting Standards Board issued ASU 2022-02 to address the accounting guidance on troubled debt restructurings (“TDRs”) for creditors in ASC 310-402 and amend the guidance on vintage disclosures to require disclosure of current-period gross write-offs by year of origination. The ASU also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancing and restructurings for borrowers experiencing financial difficulty. The amendments in this update are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. OFG adopted the guidance related to the elimination of the recognition and measurement of TDRs and the enhancement of disclosures for loan restructurings for borrowers experiencing financial difficulty as of January 1, 2023, using the prospective transition method. As of our adoption date, 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 under ASU 2022-02, we continue to measure impairment on the loan using a discounted cash flow approach that utilizes the loan’s restructured terms, including the post-restructuring interest rate, which does not result in any material changes to the allowance for credit losses. We also adopted the disclosure guidance related to the presentation of gross write-offs by year of origination in our vintage disclosures on January 1, 2023. At the adoption of this guidance on January 1, 2023, there was no material impact on our financial statements.

INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2023

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 June 30, 2023 and December 31, 2022 were as follows:


	June 30, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Weighted Average Yield
	(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates
Due less than 1 year	$	—	$	—	$	—	$	—	—	%
Due from 1 to 5 years	$	8,463	$	—	$	485	$	7,978	1.76	%
Due from 5 to 10 years	52,433		—		3,803		48,630		2.00	%
Due after 10 years	786,949		125		64,832		722,242		3.00	%
Total FNMA and FHLMC certificates	847,845		125		69,120		778,850		2.93	%
GNMA Securities
Due less than 1 year	—		—		—		—		—	%
Due from 1 to 5 years	10,633		—		558		10,075		1.69	%
Due from 5 to 10 years	20,551		7		1,450		19,108		2.16	%
Due after 10 years	353,716		1,548		35,213		320,051		3.16	%
Total GNMA certificates	384,900		1,555		37,221		349,234		3.07	%
CMOs issued by US government-sponsored agencies

Due from 1 to 5 years	11,425		—		659		10,766		1.78	%
Due from 5 to 10 years	265		—		4		261		2.14	%
Due after 10 years	905		—		20		885		5.07	%
Total CMOs issued by US government-sponsored agencies	12,595		—		683		11,912		2.02	%
Total mortgage-backed securities	1,245,340		1,680		107,024		1,139,996		2.96	%
Investment securities
US Treasury securities
Due less than 1 year	748		—		—		748		4.77	%



Total US Treasury Securities	748		—		—		748		4.77	%






Other debt securities
Due less than 1 year	376		44		—		420		7.00	%
Due from 1 to 5 years	685		—		4		681		3.18	%


Total other debt securities	1,061		44		4		1,101		4.53	%
Total investment securities	1,809		44		4		1,849		4.63	%
Total securities available for sale	$	1,247,149	$	1,724	$	107,028	$	1,141,845	2.97	%

	June 30, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Weighted Average Yield
	(In thousands)
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates



Due after 10 years	$	326,935	$	—	$	60,338	$	266,597	1.72	%

Investment securities
US Treasury securities
Due less than 1 year	$	198,478	$	—	$	3,697	$	194,781	3.34	%




Total securities held to maturity	$	525,413	$	—	$	64,035	$	461,378	2.34	%


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Weighted Average Yield
	(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates

Due from 1 to 5 years	$	10,155	—		$	550	$	9,605	1.76	%
Due from 5 to 10 years	59,167		—		3,764		55,403		2.00	%
Due after 10 years	768,381		59		65,332		703,108		2.87	%
Total FNMA and FHLMC certificates	837,703		59		69,646		768,116		2.79	%
GNMA Securities

Due from 1 to 5 years	12,505		—		632		11,873		1.66	%
Due from 5 to 10 years	24,575		14		1,585		23,004		2.13	%
Due after 10 years	320,417		892		36,652		284,657		2.90	%
Total GNMA certificates	357,497		906		38,869		319,534		2.80	%
CMOs issued by US government-sponsored agencies

Due from 1 to 5 years	14,190		—		755		13,435		1.78	%
Due from 5 to 10 years	485		—		10		475		2.14	%
Due after 10 years	959		—		18		941		5.06	%
Total CMOs issued by US government-sponsored agencies	15,634		—		783		14,851		1.99	%
Total mortgage-backed securities	1,210,834		965		109,298		1,102,501		2.79	%
Investment securities
US Treasury securities
Due less than 1 year	310,862		—		1,729		309,133		3.34	%










Other debt securities

Due from 1 to 5 years	1,116		30		4		1,142		4.45	%



Total investment securities	311,978		30		1,733		310,275		3.35	%
Total securities available for sale	$	1,522,812	$	995	$	111,031	$	1,412,776	2.90	%


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Weighted Average Yield
	(In thousands)
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates



Due after 10 years	$	337,435	$	—	$	62,358	$	275,077	1.71	%

Investment securities
US Treasury securities

Due from 1 to 5 years	197,635		—		3,526		194,109		3.36	%



Total securities held to maturity	$	535,070	$	—	$	65,884	$	469,186	2.30	%

Schedule of Gross Realized Gains and Losses by Category


	Six Month Period Ended June 30, 2023
Description	Sale Price		Book Value at Sale		Gross Gains		Gross Losses
	(In thousands)
Sale of securities available-for-sale



Investment securities
US Treasury securities	$	202,133	$	203,282	$	—	$	1,149

Schedule of Unrealized Gains and Losses by Category

The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity at June 30, 2023 and December 31, 2022, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position:


	June 30, 2023
	12 months or more
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
FNMA and FHLMC certificates	$	493,276	$	53,454	$	439,822
GNMA certificates	258,449		35,154		223,295

CMOs issued by US Government-sponsored agencies	12,595		683		11,912
	$	764,320	$	89,291	$	675,029

Held-to-maturity
FNMA and FHLMC certificates	$	326,935	$	60,338	$	266,597

	June 30, 2023
	Less than 12 months
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale

FNMA and FHLMC certificates	345,324		15,666		329,658
GNMA certificates	76,664		2,068		74,596

Other debt securities	184		4		180
	$	422,172	$	17,738	$	404,434
Held-to-maturity

US Treasury securities	198,478		3,697		194,781


	June 30, 2023
	Total
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
FNMA and FHLMC certificates	$	838,600	$	69,120	$	769,480
GNMA certificates	335,113		37,221		297,892
CMOs issued by US Government-sponsored agencies	12,595		683		11,912

Other debt securities	184		4		180
	$	1,186,492	$	107,028	$	1,079,464
Held-to-maturity
FNMA and FHLMC certificates	$	326,935	$	60,338	$	266,597
US Treasury securities	198,478		3,697		194,781
	$	525,413	$	64,035	$	461,378


	December 31, 2022
	12 months or more
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	337	$	7	$	330
FNMA and FHLMC certificates	88,600		18,989		69,611
GNMA certificates	82,074		14,031		68,043

	$	171,011	$	33,027	$	137,984

Held-to-maturity
FNMA and FHLMC certificates	$	337,435	$	62,358	$	275,077


	December 31, 2022
	Less than 12 months
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	15,297	$	776	$	14,521
FNMA and FHLMC certificates	745,566		50,657		694,909
GNMA certificates	251,835		24,838		226,997
US Treasury securities	310,862		1,729		309,133
Other debt securities	240		4		236
	$	1,323,800	$	78,004	$	1,245,796
Held-to-maturity

US Treasury securities	$	197,635	$	3,526	$	194,109


	December 31, 2022
	Total
	Amortized Cost		Unrealized Loss		Fair Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	15,634	$	783	$	14,851
FNMA and FHLMC certificates	834,166		69,646		764,520
GNMA certificates	333,909		38,869		295,040
US Treasury securities	310,862		1,729		309,133
Other debt securities	240		4		236
	$	1,494,811	$	111,031	$	1,383,780
Held-to-maturity
FNMA and FHLMC certificates	$	337,435	$	62,358	$	275,077
US Treasury securities	197,635		3,526		194,109
	$	535,070	$	65,884	$	469,186

LOANS (Tables)

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Schedule of Loan Portfolio

The composition of the amortized cost basis of OFG’s loan portfolio at June 30, 2023 and December 31, 2022 was as follows:


	June 30, 2023						December 31, 2022
	Non-PCD		PCD		Total		Non-PCD		PCD		Total
	(In thousands)
Commercial loans:
Commercial secured by real estate	$	980,570	$	131,326	$	1,111,896	$	974,202	$	138,678	$	1,112,880
Other commercial and industrial	971,608		21,562		993,170		854,442		20,474		874,916

US commercial loans	669,332		—		669,332		642,133		—		642,133
	2,621,510		152,888		2,774,398		2,470,777		159,152		2,629,929
Mortgage	641,555		980,833		1,622,388		675,793		1,028,428		1,704,221
Consumer:
Personal loans	540,975		294		541,269		480,620		338		480,958
Credit lines	11,312		274		11,586		12,826		300		13,126
Credit cards	40,561		—		40,561		42,872		—		42,872
Overdraft	274		—		274		301		—		301
	593,122		568		593,690		536,619		638		537,257
Auto loans and leases	2,124,076		3,319		2,127,395		1,958,257		5,658		1,963,915
	5,980,263		1,137,608		7,117,871		5,641,446		1,193,876		6,835,322
Allowance for credit losses	(150,167)		(9,756)		(159,923)		(141,841)		(10,832)		(152,673)
Total loans held for investment, net	5,830,096		1,127,852		6,957,948		5,499,605		1,183,044		6,682,649
Mortgage loans held for sale	11,397		—		11,397		19,499		—		19,499
Other loans held for sale	18,899		—		18,899		21,088		—		21,088
Total loans held for sale	30,296		—		30,296		40,587		—		40,587
Total loans, net	$	5,860,392	$	1,127,852	$	6,988,244	$	5,540,192	$	1,183,044	$	6,723,236

Schedule of Aging of Recorded Investment in Gross Loans


	June 30, 2023
	30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total Loans		Loans 90+ Days Past Due and Still Accruing
	(In thousands)
Commercial
Commercial secured by real estate	$	825	$	274	$	6,502	$	7,601	$	972,969	$	980,570	$	—
Other commercial and industrial	587		261		4,203		5,051		966,557		971,608		—
US commercial loans	—		9,721		6,270		15,991		653,341		669,332		—
	1,412		10,256		16,975		28,643		2,592,867		2,621,510		—
Mortgage	5,773		8,203		35,631		49,607		591,948		641,555		2,600
Consumer
Personal loans	4,595		2,709		2,163		9,467		531,508		540,975		—
Credit lines	75		26		64		165		11,147		11,312		—
Credit cards	440		290		611		1,341		39,220		40,561		—
Overdraft	53		—		—		53		221		274		—
	5,163		3,025		2,838		11,026		582,096		593,122		—
Auto loans and leases	84,881		32,356		13,130		130,367		1,993,709		2,124,076		—
Total loans	$	97,229	$	53,840	$	68,574	$	219,643	$	5,760,620	$	5,980,263	$	2,600


	December 31, 2022
	30-59 Day Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total Loans		Loans 90+ Days Past Due and Still Accruing
	(In thousands)
Commercial
Commercial secured by real estate	$	923	$	164	$	6,147	$	7,234	$	966,968	$	974,202	$	—
Other commercial and industrial	943		720		3,225		4,888		849,554		854,442		—
US commercial loans	—		—		—		—		642,133		642,133		—
	1,866		884		9,372		12,122		2,458,655		2,470,777		—
Mortgage	9,267		5,848		56,714		71,829		603,964		675,793		3,856
Consumer
Personal loans	4,263		2,669		2,314		9,246		471,374		480,620		—
Credit lines	500		154		117		771		12,055		12,826		—
Credit cards	730		486		682		1,898		40,974		42,872		—
Overdraft	91		2		—		93		208		301		—
	5,584		3,311		3,113		12,008		524,611		536,619		—
Auto loans and leases	75,237		36,954		19,613		131,804		1,826,453		1,958,257		—
Total loans	$	91,954	$	46,997	$	88,812	$	227,763	$	5,413,683	$	5,641,446	$	3,856

Schedule of Investment in Loans on Non-Accrual Status

The following table presents the amortized cost basis of loans held for investment on nonaccrual status as of June 30, 2023 and December 31, 2022:


	June 30, 2023						December 31, 2022
	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
Commercial secured by real estate	$	6,012	$	8,478	$	14,490	$	4,091	$	17,098	$	21,189
Other commercial and industrial	4,413		280		4,693		2,769		885		3,654
US commercial loans	24,005		—		24,005		9,589		—		9,589
	34,430		8,758		43,188		16,449		17,983		34,432
Mortgage	13,091		6,130		19,221		11,719		11,522		23,241
Consumer
Personal loans	1,940		292		2,232		1,950		379		2,329
Personal lines of credit	63		—		63		116		—		116
Credit cards	612		—		612		683		—		683
	2,615		292		2,907		2,749		379		3,128
Auto loans and leases	13,126		4		13,130		19,612		1		19,613
Total	$	63,262	$	15,184	$	78,446	$	50,529	$	29,885	$	80,414

PCD:
Commercial
Commercial secured by real estate	$	2,547	$	4,353	$	6,900	$	2,807	$	6,084	$	8,891
Other commercial and industrial	—		1,204		1,204		—		36		36
	2,547		5,557		8,104		2,807		6,120		8,927
Mortgage	256		—		256		259		—		259



Total	$	2,803	$	5,557	$	8,360	$	3,066	$	6,120	$	9,186
Total non-accrual loans	$	66,065	$	20,741	$	86,806	$	53,595	$	36,005	$	89,600

Schedule of Troubled Debt Restructurings

The following tables present the amortized cost basis as of June 30, 2023 of loans held for investment that were modified during the quarter and six month period ended June 30, 2023, disaggregated by class of financing receivable and type of concession granted.


	Quarter Ended June 30, 2023
	Term Extension
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable

Commercial loans:
Commercial loans secured by real estate	$	5,341	0.48	%
Other commercial and industrial	147		0.01	%


	5,488		0.20	%
Mortgage	1,827		0.11	%







Total	$	7,315


	Quarter Ended June 30, 2023
	Combination - Term Extension and Interest Rate Reduction
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable







Mortgage	417		0.03	%
Consumer:
Personal loans	58		0.01	%





Total	$	475


	Quarter Ended June 30, 2023
	Combination - Term Extension and Principal Forgiveness/Forbearance
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable

Commercial loans:



US commercial loans	$	4,260	0.64	%

Mortgage	431		0.03	%







Total	$	4,691


	Six-Month Period Ended June 30, 2023
	Term Extension
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable

Commercial loans:
Commercial loans secured by real estate	$	5,810	0.52	%
Other commercial and industrial	147		0.01	%


	5,957		0.21	%
Mortgage	4,318		0.27	%







Total	$	10,275


	Six-Month Period Ended June 30, 2023
	Principal Forgiveness/Forbearance
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable







Mortgage	$	100	0.01	%


	Six-Month Period Ended June 30, 2023
	Combination - Term Extension and Interest Rate Reduction
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable







Mortgage	$	602	0.02	%
Consumer:
Personal loans	84		0.02	%





Total	$	686


	Six-Month Period Ended June 30, 2023
	Combination - Term Extension and Principal Forgiveness/Forbearance
	Amortized Cost Basis (In thousands)		% of Total Class of Financing Receivable

Commercial loans:



US commercial loans	$	4,260	0.64	%

Mortgage	431		0.03	%







Total	$	4,691

The following table presents the financial effect of the modifications granted to borrowers experiencing financial difficulty during the quarter and six month period ended June 30, 2023. The financial effect of the combined modifications is presented separately by type of modification.


	Quarter Ended June 30, 2023
	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (In months)	Weighted-Average Forgiveness/Forbearance of Principal Amount
Commercial:
Commercial loans secured by real estate	—	%	25	$	—
US Commercial loans	—	%	31	2,973
	—	%	56	$	2,973
Mortgage	1.86	%	195	$	20
Consumer:
Personal loans	1.25	%	110	$	—


	Six-Month Period Ended June 30, 2023
	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (In months)	Weighted-Average Forgiveness/Forbearance of Principal Amount
Commercial:
Commercial loans secured by real estate	—	%	24	$	—
US Commercial loans	—	%	31	2,973
	—	%	55	$	2,973
Mortgage	2.04	%	206	$	24
Consumer:
Personal loans	2.50	%	81	$	—

The following table presents the troubled-debt restructurings in all loan portfolios as of December 31, 2022:


	December 31, 2022
		Accruing		Non-accruing		Total		Related Allowance
	(In thousands)
Commercial loans:
Commercial secured by real estate		$	31,437	$	13,187	$	44,624	$	181
Other commercial and industrial		2,272		354		2,626		42

US commercial loans		7,132		—		7,132		89
		40,841		13,541		54,382		312
Mortgage		102,387		6,773		109,160		2,495
Consumer:
Personal loans		1,850		15		1,865		73




Auto loans and leases		77		—		77		3
Total loans		$	145,155	$	20,329	$	165,484	$	2,883

The following tables present the troubled-debt restructurings by loan portfolios and modification type as of December 31, 2022:


	December 31, 2022
	Reduction in interest rate		Maturity or term extension		Combination of reduction in interest rate and extension of maturity		Forbearance		Total
	(In thousands)
Commercial loans:
Commercial secured by real estate	$	7,746	$	29,454	$	7,424	$	—	$	44,624
Other commercial and industrial	785		1,367		474		—		2,626

US commercial loans	7,132		—		—		—		7,132
	15,663		30,821		7,898		—		54,382
Mortgage	31,709		8,020		35,194		34,237		109,160
Consumer:
Personal loans	825		176		793		71		1,865





Auto loans and leases	39		—		20		18		77
Total loans	$	48,236	$	39,017	$	43,905	$	34,326	$	165,484

Loan modifications that were considered TDR loans completed during the quarter and six-month period ended June 30, 2022:


	Quarter Ended June 30, 2022
	Number of contracts	Pre-Modification Outstanding Recorded Investment		Pre-Modification Weighted Average Rate		Pre-Modification Weighted Average Term (in Months)	Post-Modification Outstanding Recorded Investment		Post-Modification Weighted Average Rate		Post-Modification Weighted Average Term (in Months)
	(Dollars in thousands)
Mortgage	36	4,333		4.58	%	267	4,608		3.68	%	344
Commercial	2	37,808		3.51	%	133	37,808		3.61	%	187
Consumer	1	9		20.95	%	72	9		10.95	%	72



	Six-Month Period Ended June 30, 2022
	Number of contracts	Pre-Modification Outstanding Recorded Investment		Pre-Modification Weighted Average Rate		Pre-Modification Weighted Average Term (in Months)	Post-Modification Outstanding Recorded Investment		Post-Modification Weighted Average Rate		Post-Modification Weighted Average Term (in Months)
	(Dollars in thousands)
Mortgage	72	$	9,033	4.55	%	270	$	9,471	3.57	%	343
Commercial	4	38,703		3.56	%	131	38,560		3.63	%	184
Consumer	2	22		19.27	%	79	22		10.95	%	79

The following table presents troubled-debt restructurings for which there was a payment default during the twelve-months periods ended June 30, 2022:


	Twelve-month period ended June 30, 2022
		Number of Contracts	Recorded Investment

Mortgage		7	$	800

Consumer		3	$	47

Financing Receivable, Modified, Past Due

The following table presents an aging of the loans held for investment that have been modified during the six month period ended June 30, 2023.


	June 30, 2023
	30-59 Day Past Due		60-89 Days Past Due		90+ Days Past Due		Total Past Due		Current		Total
	(In thousands)
Commercial
Commercial loans secured by real estate	$	—	$	—	$	—	$	—	$	5,810	$	5,810
Other commercial and industrial	—		—		—		—		147		147
US commercial loans	—		—		—		—		4,260		4,260
	—		—		—		—		10,217		10,217
Mortgage	—		122		415		537		4,914		5,451
Consumer
Personal loans	—		—		—		—		84		84



	—		—		—		—		84		84

Total	$	—	$	122	$	415	$	537	$	15,215	$	15,752

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 June 30, 2023 and December 31, 2022, by class of loans.


	June 30,		December 31,
	2023		2022
	(In thousands)

Commercial loans secured by real estate	$	9,945	$	8,805

Schedule of Credit Quality Indicators of Loans

As of June 30, 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 Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Commercial:
Commercial secured by real estate:
Loan grade:
Pass	$	40,469	$	221,969	$	174,336	$	123,684	$	99,681	$	192,049	$	54,543	$	906,731
Special Mention	—		1,837		6,729		17,860		15,827		10,903		192		53,348
Substandard	—		411		1,714		644		2,738		14,111		527		20,145
Doubtful	—		—		—		—		—		15		331		346
Loss	—		—		—		—		—		—		—		—
Total commercial secured by real estate	40,469		224,217		182,779		142,188		118,246		217,078		55,593		980,570
Commercial secured by real estate:
Current-period gross charge-offs	—		—		80		—		94		67		—		241


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Other commercial and industrial:
Loan grade:
Pass	153,016		107,027		122,761		55,849		30,431		17,332		475,103		961,519
Special Mention	9		1,841		—		5,852		628		17		22		8,369
Substandard	—		124		1		256		331		213		756		1,681
Doubtful	—		—		—		—		—		—		39		39
Loss	—		—		—		—		—		—		—		—
Total other commercial and industrial:	153,025		108,992		122,762		61,957		31,390		17,562		475,920		971,608
Other commercial and industrial:
Current-period gross charge-offs	—		18		458		—		—		1,180		—		1,656
US commercial loans:
Loan grade:
Pass	74,370		60,598		85,047		45,864		31,545		17,685		306,777		621,886
Special Mention	—		7,854		—		—		—		—		—		7,854
Substandard	30		10,395		—		958		—		18,020		10,189		39,592
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total US commercial loans:	74,400		78,847		85,047		46,822		31,545		35,705		316,966		669,332
US commercial loans:
Current-period gross charge-offs	33		1,156		—		—		—		1,785		—		2,974
Total commercial loans	$	267,894	$	412,056	$	390,588	$	250,967	$	181,181	$	270,345	$	848,479	$	2,621,510
Total current-period gross charge-offs	$	33	$	1,174	$	538	$	—	$	94	$	3,032	$	—	$	4,871

As of December 31, 2022 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 Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2022		2021		2020		2019		2018		Prior
	(In thousands)
Commercial:
Commercial secured by real estate:
Loan grade:
Pass	$	220,035	$	177,775	$	110,809	$	118,518	$	50,454	$	159,721	$	69,523	$	906,835
Special Mention	1,899		—		6,007		17,004		2,095		13,934		439		41,378
Substandard	103		8,410		345		405		473		14,722		1,185		25,643
Doubtful	—		—		—		—		—		15		331		346
Loss	—		—		—		—		—		—		—		—
Total commercial secured by real estate	222,037		186,185		117,161		135,927		53,022		188,392		71,478		974,202
Other commercial and industrial:
Loan grade:
Pass	123,659		198,776		67,147		35,678		13,807		7,863		397,944		844,874
Special Mention	3		60		31		654		1,819		21		3,823		6,411
Substandard	112		—		260		472		280		74		1,920		3,118
Doubtful	—		—		—		—		—		—		39		39
Loss	—		—		—		—		—		—		—		—
Total other commercial and industrial:	123,774		198,836		67,438		36,804		15,906		7,958		403,726		854,442
US commercial loans:
Loan grade:
Pass	81,155		92,688		43,965		33,827		49,356		—		308,183		609,174
Special Mention	6,346		—		—		—		—		—		1,122		7,468
Substandard	3,363		—		8,090		—		4,449		—		9,589		25,491
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total US commercial loans:	90,864		92,688		52,055		33,827		53,805		—		318,894		642,133
Total commercial loans	$	436,675	$	477,709	$	236,654	$	206,558	$	122,733	$	196,350	$	794,098	$	2,470,777

The following tables present the amortized cost in mortgage and consumer loans held for investment based on payment activity as of June 30, 2023 and December 31, 2022:


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Mortgage:
Payment performance:
Performing	$	5,996	$	19,898	$	24,880	$	16,182	$	14,600	$	532,399	$	—	$	613,955
Nonperforming	—		—		—		109		328		27,163		—		27,600
Total mortgage loans:	5,996		19,898		24,880		16,291		14,928		559,562		—		641,555
Mortgage:
Current-period gross charge-offs	—		—		—		—		—		392		—		392
Consumer:
Personal loans:
Payment performance:
Performing	161,223		232,481		87,578		24,773		22,131		10,557		—		538,743
Nonperforming	166		1,019		355		169		154		369		—		2,232
Total personal loans	161,389		233,500		87,933		24,942		22,285		10,926		—		540,975
Personal loans:
Current-period gross charge-offs	23		4,998		2,364		444		818		308		—		8,955
Credit lines:
Payment performance:
Performing	—		—		—		—		—		—		11,249		11,249
Nonperforming	—		—		—		—		—		—		63		63
Total credit lines	—		—		—		—		—		—		11,312		11,312
Credit lines:
Current-period gross charge-offs	—		—		—		—		—		—		214		214
Credit cards:
Payment performance:
Performing	—		—		—		—		—		—		39,949		39,949
Nonperforming	—		—		—		—		—		—		612		612
Total credit cards	—		—		—		—		—		—		40,561		40,561
Credit cards:
Current-period gross charge-offs	—		—		—		—		—		—		1,486		1,486
Overdrafts:
Payment performance:
Performing	—		—		—		—		—		—		274		274
Nonperforming	—		—		—		—		—		—		—		—
Total overdrafts	—		—		—		—		—		—		274		274
Overdrafts:
Current-period gross charge-offs	—		—		—		—		—		—		303		303


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Total consumer loans	161,389		233,500		87,933		24,942		22,285		10,926		52,147		593,122
Total consumer current-period gross charge-offs	23		4,998		2,364		444		818		308		2,003		10,958
Total mortgage and consumer loans	$	167,385	$	253,398	$	112,813	$	41,233	$	37,213	$	570,488	$	52,147	$	1,234,677
Total mortgage and consumer current-period gross charge-offs	$	23	$	4,998	$	2,364	$	444	$	818	$	700	$	2,003	$	11,350


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2022		2021		2020		2019		2018		Prior
	(In thousands)
Mortgage:
Payment performance:
Performing	$	18,700	$	25,274	$	16,175	$	15,457	$	16,790	$	549,885	$	—	$	642,281
Nonperforming	—		—		110		574		241		32,587		—		33,512
Total mortgage loans:	18,700		25,274		16,285		16,031		17,031		582,472		—		675,793
Consumer:
Personal loans:
Payment performance:
Performing	284,183		112,591		31,876		31,850		12,022		5,768		—		478,290
Nonperforming	831		661		111		300		81		346		—		2,330
Total personal loans	285,014		113,252		31,987		32,150		12,103		6,114		—		480,620
Credit lines:
Payment performance:
Performing	—		—		—		—		—		—		12,710		12,710
Nonperforming	—		—		—		—		—		—		116		116
Total credit lines	—		—		—		—		—		—		12,826		12,826
Credit cards:
Payment performance:
Performing	—		—		—		—		—		—		42,189		42,189
Nonperforming	—		—		—		—		—		—		683		683
Total credit cards	—		—		—		—		—		—		42,872		42,872
Overdrafts:
Payment performance:
Performing	—		—		—		—		—		—		301		301
Nonperforming	—		—		—		—		—		—		—		—
Total overdrafts	—		—		—		—		—		—		301		301
Total consumer loans	285,014		113,252		31,987		32,150		12,103		6,114		55,999		536,619
Total mortgage and consumer loans	$	303,714	$	138,526	$	48,272	$	48,181	$	29,134	$	588,586	$	55,999	$	1,212,412

The following tables present the amortized cost in auto loans and leases held for investment based on their most recent FICO score as of June 30, 2023 and December 31, 2022:


	Term Loans Amortized Cost Basis by Origination Year												Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
Auto loans and leases:
FICO score:
1-660	79,226		202,606		133,141		65,096		48,918		55,603		584,590
661-699	86,433		145,405		72,453		32,591		24,416		23,826		385,124
700+	234,111		354,101		210,260		123,846		111,118		94,364		1,127,800
No FICO	3,031		7,444		5,414		3,045		4,851		2,777		26,562
Total auto loans and leases:	$	402,801	$	709,556	$	421,268	$	224,578	$	189,303	$	176,570	$	2,124,076
Auto loans and leases:
Current-period gross charge-offs	$	94	$	7,666	$	5,245	$	2,039	$	1,795	$	1,809	$	18,648


	Term Loans Amortized Cost Basis by Origination Year												Total
	2022		2021		2020		2019		2018		Prior
	(In thousands)
Auto loans and leases:
FICO score:
1-660	178,426		143,926		72,148		58,069		44,156		31,980		528,705
661-699	171,723		93,359		42,388		31,033		21,283		13,518		373,304
700+	375,845		235,743		144,783		135,517		88,597		47,499		1,027,984
No FICO	7,766		6,553		3,741		5,873		3,008		1,323		28,264
Total auto loans and leases	$	733,760	$	479,581	$	263,060	$	230,492	$	157,044	$	94,320	$	1,958,257

Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted

The following table presents the amortized cost basis as of June 30, 2023 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the prior six-months.


	Six-Month Period Ended June 30, 2023
	Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted
	Interest Rate Reduction		Term Extension		Principal Forgiveness/Forbearance		Combination - Term Extension and Interest Rate Reduction		Total
	(In thousands)






Mortgage	$	—	$	415	$	—	$	—	$	415

ALLOWANCE FOR CREDIT LOSSES (Tables)

6 Months Ended

Jun. 30, 2023

Credit Loss [Abstract]

Schedule of Gross Loan and Allowance for Credit Losses

The following tables present the activity in OFG’s allowance for credit losses by segment for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30, 2023
	Commercial		Mortgage		Consumer		Auto and Leasing		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	37,774	$	9,083	$	24,664	$	69,864	$	141,385
Provision for (recapture of) credit losses	14,089		(556)		4,517		(1,800)		16,250
Charge-offs	(3,496)		(191)		(5,518)		(9,169)		(18,374)
Recoveries	237		334		2,003		8,332		10,906
Balance at end of period	$	48,604	$	8,670	$	25,666	$	67,227	$	150,167
PCD:
Balance at beginning of period	$	1,693	$	8,717	$	12	$	77	$	10,499
(Recapture of) provision for credit losses	(604)		(679)		78		(401)		(1,606)
Charge-offs	—		(1)		(124)		(34)		(159)
Recoveries	319		260		42		401		1,022
Balance at end of period	$	1,408	$	8,297	$	8	$	43	$	9,756
Total allowance for credit losses at end of period	$	50,012	$	16,967	$	25,674	$	67,270	$	159,923


	Six Month Period Ended June 30, 2023
	Commercial		Mortgage		Consumer		Auto loans and leases		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	39,158	$	9,571	$	23,264	$	69,848	$	141,841
Provision for (recapture of) credit losses	13,754		(1,059)		10,491		1,096		24,282
Charge-offs	(4,871)		(392)		(10,958)		(18,648)		(34,869)
Recoveries	563		550		2,869		14,931		18,913
Balance at end of period	$	48,604	$	8,670	$	25,666	$	67,227	$	150,167
PCD:
Balance at beginning of period	$	1,388	$	9,359	$	14	$	71	$	10,832
Provision for (recapture of) credit losses	1,316		(1,493)		278		(408)		(307)
Charge-offs	(2,104)		(76)		(337)		(121)		(2,638)
Recoveries	808		507		53		501		1,869
Balance at end of period	$	1,408	$	8,297	$	8	$	43	$	9,756
Total allowance for credit losses at end of period	$	50,012	$	16,967	$	25,674	$	67,270	$	159,923


	Quarter Ended June 30, 2022
	Commercial		Mortgage		Consumer		Auto and Leasing		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	37,097	$	14,952	$	21,100	$	64,195	$	137,344

Provision for (recapture of) credit losses	7,368		(3,122)		4,521		3,535		12,302
Charge-offs	(2,907)		(259)		(3,307)		(6,428)		(12,901)
Recoveries	456		335		795		5,565		7,151
Balance at end of period	$	42,014	$	11,906	$	23,109	$	66,867	$	143,896
PCD:
Balance at beginning of period	$	3,622	$	15,881	$	31	$	197	$	19,731

Recapture of credit losses	(1,444)		(4,183)		(16)		(152)		(5,795)
Charge-offs	—		(183)		(8)		(75)		(266)
Recoveries	249		1,026		13		185		1,473
Balance at end of period	$	2,427	$	12,541	$	20	$	155	$	15,143
Total allowance for credit losses at end of period	$	44,441	$	24,447	$	23,129	$	67,022	$	159,039

	Six-Month Period Ended June 30, 2022
	Commercial		Mortgage		Consumer		Auto loans and leases		Total
	(In thousands)
Non-PCD:
Balance at beginning of period	$	32,262	$	15,299	$	19,141	$	65,363	$	132,065

Provision for (recapture of) credit losses	12,555		(5,540)		8,484		5,366		20,865
Charge-offs	(3,451)		(262)		(5,966)		(14,318)		(23,997)
Recoveries	648		2,409		1,450		10,456		14,963
Balance at end of period	$	42,014	$	11,906	$	23,109	$	66,867	$	143,896
PCD:
Balance at beginning of period	$	4,508	$	19,018	$	34	$	312	$	23,872

Recapture of credit losses	(5,319)		(7,031)		(3)		(290)		(12,643)
Charge-offs	(34)		(1,317)		(47)		(189)		(1,587)
Recoveries	3,272		1,871		36		322		5,501
Balance at end of period	$	2,427	$	12,541	$	20	$	155	$	15,143
Total allowance for credit losses at end of period	$	44,441	$	24,447	$	23,129	$	67,022	$	159,039

FORECLOSED REAL ESTATE (Tables)

6 Months Ended

Jun. 30, 2023

Other Real Estate [Abstract]

Schedule of Foreclosed Real Estate Rollforward

The following table presents the activity related to foreclosed real estate for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30,				Six Month Period Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Balance at beginning of period	$	9,250	$	15,297	$	11,214	$	15,039
Additions	3,196		2,549		4,634		5,729
Sales	(3,072)		(4,140)		(6,653)		(7,947)
Decline in value	(272)		(219)		(400)		(414)
Other adjustments	1,537		1,574		1,844		2,654
Balance at end of period	$	10,639	$	15,061	$	10,639	$	15,061

SERVICING ASSETS (Tables)

6 Months Ended

Jun. 30, 2023

Transfers and Servicing [Abstract]

Schedule of Changes in Serving Rights at Fair Value

The following table presents the changes in servicing rights measured using the fair value method for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30,				Six Month Period Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Fair value at beginning of period	$	49,345	$	49,446	$	50,921	$	48,973
Servicing from mortgage securitization or asset transfers	791		1,150		1,365		2,269
Changes due to payments on loans	(1,085)		(1,478)		(2,150)		(2,977)
Changes in fair value due to changes in valuation model inputs or assumptions	915		162		(170)		1,015
Fair value at end of period	$	49,966	$	49,280	$	49,966	$	49,280

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 June 30, 2023 and 2022:


	Six-Month Period Ended June 30,
	2023	2022
Constant prepayment rate	3.49% - 21.68%	3.60% - 22.71%
Discount rate	10.00% - 15.50%	10.00% - 15.50%

Schedule of Sensitivity of Current Fair Value of Servicing Assets

The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follows:


	June 30,		December 31,
	2023		2022
	(In thousands)
Mortgage-related servicing asset
Carrying value of mortgage servicing asset	$	49,966	$	50,921
Weighted average life (in years)	7.6		7.8
Constant prepayment rate
Decrease in fair value due to 10% adverse change	$	(947)	$	(956)
Decrease in fair value due to 20% adverse change	$	(1,862)	$	(1,880)
Discount rate
Decrease in fair value due to 10% adverse change	$	(2,177)	$	(2,265)
Decrease in fair value due to 20% adverse change	$	(4,190)	$	(4,356)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Goodwill by reportable business segment is included in the table below. Refer to “Note 23 – Business Segments” for additional information on OFG’s reportable business segments.


	Banking		Wealth Management		Treasury		Total
	(In thousands)


December 31, 2022	$	84,063	$	178	$	—	$	84,241

June 30, 2023	$	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 June 30, 2023 and December 31, 2022:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
	(In thousands)
June 30, 2023
Core deposit intangibles	$	41,507	$	23,018	$	18,489
Customer relationship intangibles	12,693		7,039		5,654

Total other intangible assets	$	54,200	$	30,057	$	24,143
December 31, 2022
Core deposit intangibles	$	41,507	$	20,376	$	21,131
Customer relationship intangibles	12,693		6,231		6,462

Total other intangible assets	$	54,200	$	26,607	$	27,593

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)
2023	$	6,898
2024	5,913
2025	4,927
2026	3,942
2027	2,956
Thereafter	2,957

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

Accrued Interest Receivable and Other Assets [Abstract]

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Accrued Interest Receivable

Accrued interest receivable at June 30, 2023 and December 31, 2022 consists of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Loans	$	58,638	$	58,144
Investments	4,719		4,258
	$	63,357	$	62,402

Schedule of Other Assets

Other assets at June 30, 2023 and December 31, 2022 consist of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Prepaid expenses	$	68,346	$	54,875
Other repossessed assets	4,004		4,617
Accounts receivable and other assets	54,160		61,420
	$	126,510	$	120,912

DEPOSITS AND RELATED INTEREST (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Deposits by Component

Total deposits, including related accrued interest payable, as of June 30, 2023 and December 31, 2022 consist of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Non-interest-bearing demand deposits	$	2,559,576	$	2,630,458
Interest-bearing savings and demand deposits	4,671,271		4,774,265
Retail certificates of deposit	1,064,766		979,545
Institutional certificates of deposit	242,413		172,725
Total core deposits	8,538,026		8,556,993
Brokered deposits	—		11,371
Total deposits	$	8,538,026	$	8,568,364

Schedule of Interest Expense

Interest expense for the quarters and six month periods ended June 30, 2023 and 2022 was as follows:


	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2023		2022		2023		2022
					(In thousands)
Demand and savings deposits	$	10,423	$	5,101	$	19,092	$	10,077
Certificates of deposit	5,493		1,843		9,321		3,908
	$	15,916	$	6,944	$	28,413	$	13,985

Schedule of Maturities of Time Deposits

Excluding accrued interest of approximately $981 thousand and $682 thousand, the scheduled maturities of certificates of deposit at June 30, 2023 and December 31, 2022 are as follows:


June 30, 2023
	Period-end amount		Uninsured amount
	(In thousands)
Within one year:
Three months or less	$	187,529	$	15,557
Over 3 months through 6 months	156,305		48,541
Over 6 months through 1 year	317,407		83,665
	661,241		147,763
Over 1 through 2 years	436,645		181,660
Over 2 through 3 years	126,491		17,268
Over 3 through 4 years	33,355		3,839
Over 4 through 5 years	47,128		2,286
Over 5 years	1,338		—
	$	1,306,198	$	352,816

December 31, 2022
	Period-end amount		Uninsured amount
	(In thousands)

Within one year:
Three months or less	$	238,776	$	29,503
Over 3 months through 6 months	152,940		18,238
Over 6 months through 1 year	262,976		59,093
	654,692		106,834
Over 1 through 2 years	279,034		64,109
Over 2 through 3 years	136,732		26,481
Over 3 through 4 years	51,505		8,276
Over 4 through 5 years	39,888		2,230
Over 5 years	1,108		—
	$	1,162,959	$	207,930

Tabular disclosure of type of deposit liability.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (1)
-Publisher SEC

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (2)
-Publisher SEC

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (3)
-Publisher SEC

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (4)
-Publisher SEC

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (5)
-Publisher SEC

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (c)
-Publisher SEC

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (d)
-Publisher SEC

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)
-Publisher SEC

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (1)
-Publisher SEC

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)
-Publisher SEC

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)
-Publisher SEC

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(ii)
-Publisher SEC

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iii)
-Publisher SEC

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iv)
-Publisher SEC

Schedule of Federal Home Loan Bank Advances

BORROWINGS AND RELATED INTEREST (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $861 thousand and $103 thousand at June 30, 2023 and December 31, 2022, respectively:


	June 30,		December 31,
	2023		2022
	(In thousands)
Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 5.54% (December 31, 2022 - 4.46%)	$	25,646	$	26,613
Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 4.52%	200,000		—
	$	225,646	$	26,613

Advances from FHLB mature as follows:


	June 30,		December 31,
	2023		2022
	(In thousands)
Under 90 days	$	25,646	$	26,613
Over one to three years	200,000		—


	$	225,646	$	26,613

REGULATORY CAPITAL REQUIREMENTS (Tables)

6 Months Ended

Jun. 30, 2023

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 June 30, 2023 and December 31, 2022 were as follows:


	Actual				Minimum Capital Requirement (including capital conservation buffer)				Minimum to be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
OFG Bancorp Ratios
As of June 30, 2023
Total capital to risk-weighted assets	$	1,183,793	15.29	%	$	813,008	10.50	%	$	774,293	10.00	%
Tier 1 capital to risk-weighted assets	$	1,086,587	14.03	%	$	658,149	8.50	%	$	619,435	8.00	%
Common equity tier 1 capital to risk-weighted assets	$	1,086,587	14.03	%	$	542,005	7.00	%	$	503,291	6.50	%
Tier 1 capital to average total assets	$	1,086,587	10.85	%	$	400,453	4.00	%	$	500,566	5.00	%
As of December 31, 2022
Total capital to risk-weighted assets	$	1,132,658	14.89	%	$	798,574	10.50	%	$	760,547	10.00	%
Tier 1 capital to risk-weighted assets	$	1,037,385	13.64	%	$	646,465	8.50	%	$	608,437	8.00	%
Common equity tier 1 capital to risk-weighted assets	$	1,037,385	13.64	%	$	532,383	7.00	%	$	494,355	6.50	%
Tier 1 capital to average total assets	$	1,037,385	10.36	%	$	400,445	4.00	%	$	500,557	5.00	%


	Actual				Minimum Capital Requirement (including capital conservation buffer)				Minimum to be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
Bank Ratios
As of June 30, 2023
Total capital to risk-weighted assets	$	1,094,407	14.22	%	$	808,074	10.50	%	$	769,594	10.00	%
Tier 1 capital to risk-weighted assets	$	997,781	12.97	%	$	654,155	8.50	%	$	615,676	8.00	%
Common equity tier 1 capital to risk-weighted assets	$	997,781	12.97	%	$	538,716	7.00	%	$	500,236	6.50	%
Tier 1 capital to average total assets	$	997,781	10.07	%	$	396,512	4.00	%	$	495,640	5.00	%
As of December 31, 2022
Total capital to risk-weighted assets	$	1,028,126	13.61	%	$	793,124	10.50	%	$	755,356	10.00	%
Tier 1 capital to risk-weighted assets	$	933,494	12.36	%	$	642,053	8.50	%	$	604,285	8.00	%
Common equity tier 1 capital to risk-weighted assets	$	933,494	12.36	%	$	528,749	7.00	%	$	490,981	6.50	%
Tier 1 capital to average total assets	$	933,494	9.42	%	$	396,525	4.00	%	$	495,656	5.00	%

STOCKHOLDERS’ EQUITY (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of Activity of Common Shares Held in Treasury

The activity in connection with common shares held in treasury by OFG for the six month periods ended June 30, 2023 and 2022 is set forth below:


	Six-Month Period Ended June 30,
	2023			2022
	Shares	Dollar Amount		Shares	Dollar Amount
	(In thousands, except shares data)
Beginning of period	12,303,859	$	211,135	10,248,882	$	150,572
Common shares used upon lapse of restricted stock units and options	(164,911)	(1,372)		(269,239)	(3,544)
Common shares repurchased as part of the stock repurchase programs	670,099	16,467		2,351,868	64,110
End of period	12,809,047	$	226,230	12,331,511	$	211,138

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive loss, net of income taxes, as of June 30, 2023 and December 31, 2022 consisted of:


	June 30,		December 31,
	2023		2022
	(In thousands)
Unrealized loss on securities available-for-sale	$	(105,304)	$	(110,036)
Income tax effect of unrealized loss on securities available-for-sale	15,665		16,373
Net unrealized loss on securities available-for-sale	(89,639)		(93,663)
Unrealized gain on cash flow hedges	120		406
Income tax effect of unrealized gain on cash flow hedges	(45)		(152)
Net unrealized gain on cash flow hedges	75		254
Accumulated other comprehensive loss, net of income taxes	$	(89,564)	$	(93,409)

The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30, 2023
	Net unrealized loss on securities available-for-sale		Net unrealized gain on cash flow hedges		Accumulated other comprehensive loss
	(In thousands)
Beginning balance	$	(78,512)	$	172	$	(78,340)
Other comprehensive loss before reclassifications	(9,980)		(2,525)		(12,505)
Amounts reclassified out of accumulated other comprehensive loss	(1,147)		2,428		1,281
Other comprehensive loss	(11,127)		(97)		(11,224)
Ending balance	$	(89,639)	$	75	$	(89,564)


	Six-Month Period Ended June 30, 2023
	Net unrealized loss on securities available-for-sale		Net unrealized gain on cash flow hedges		Accumulated other comprehensive loss
	(In thousands)
Beginning balance	$	(93,663)	$	254	$	(93,409)
Other comprehensive income (loss) before reclassifications	5,169		(3,198)		1,971
Amounts reclassified out of accumulated other comprehensive (loss) income	(1,145)		3,019		1,874
Other comprehensive income (loss)	4,024		(179)		3,845
Ending balance	$	(89,639)	$	75	$	(89,564)


	Quarter Ended June 30, 2022
	Net unrealized loss on securities available-for-sale		Net unrealized loss on cash flow hedges		Accumulated other comprehensive loss
	(In thousands)
Beginning balance	$	(20,522)	$	(116)	$	(20,638)
Other comprehensive (loss) income before reclassifications	(29,086)		36		(29,050)
Amounts reclassified out of accumulated other comprehensive income	2		184		186
Other comprehensive (loss) income	(29,084)		220		(28,864)
Ending balance	$	(49,606)	$	104	$	(49,502)


	Six-Month Period Ended June 30, 2022
	Net unrealized loss on securities available-for-sale		Net unrealized gain on cash flow hedges		Accumulated other comprehensive loss
	(In thousands)
Beginning balance	$	5,663	$	(503)	$	5,160

Other comprehensive (loss) income before reclassifications	(55,273)		230		(55,043)
Amounts reclassified out of accumulated other comprehensive income	4		377		381
Other comprehensive (loss) income	(55,269)		607		(54,662)
Ending balance	$	(49,606)	$	104	$	(49,502)

Schedule of Reclassifications Out of Other Comprehensive Income

The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and six month periods ended June 30, 2023 and 2022:


	Amount reclassified out of accumulated other comprehensive loss Quarter Ended June 30,				Affected Line Item in Consolidated Statement of Operations

	2023		2022
	(In thousands)
Cash flow hedges:
Interest-rate contracts	$	2,428	$	184		Net interest expense
Available-for-sale securities:
Loss on sale of investments	(1,149)		—			Net loss on sale of securities
Tax effect from changes in tax rates	2		2			Income tax expense
	$	1,281	$	186

					Affected Line Item in Consolidated Statement of Operations
	Amount reclassified out of accumulated other comprehensive loss Six-Month Period Ended June 30,

	2023		2022
	(In thousands)
Cash flow hedges:
Interest-rate contracts	$	3,019	$	377		Net interest expense
Available-for-sale securities:
Loss on sale of investments	(1,149)		—			Net loss on sale of securities
Tax effect from changes in tax rates	4		4			Income tax expense
	$	1,874	$	381

EARNINGS PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Common Share

The calculation of earnings per common share for the quarters and six month periods ended June 30, 2023 and 2022 is as follows:


	Quarter Ended June 30,				Six-Month Ended June 30,
	2023		2022		2023		2022
	(In thousands, except per share data)




Income available to common shareholders	$	44,173	$	40,432	$	90,402	$	77,953



Average common shares outstanding	47,266		48,053		47,432		48,508
Effect of dilutive securities:
Average potential common shares-options	224		336		284		425

Total weighted average common shares outstanding and equivalents	47,490		48,389		47,716		48,933
Earnings per common share - basic	$	0.93	$	0.84	$	1.91	$	1.61
Earnings per common share - diluted	$	0.93	$	0.84	$	1.89	$	1.59

GUARANTEES (Tables)

6 Months Ended

Jun. 30, 2023

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 these credit recourse agreements, included in the consolidated statements of financial condition during the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Balance at beginning of period	$	141	$	294	$	147	$	205
Net recoveries (charge-offs/terminations)	9		(120)		3		(31)
Balance at end of period	$	150	$	174	$	150	$	174

COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Credit-Related Financial Instruments

Credit-related financial instruments at June 30, 2023 and December 31, 2022 were as follows:


	June 30,		December 31,
	2023		2022
	(In thousands)
Commitments to extend credit	$	1,281,775	$	1,403,118
Commercial letters of credit	344		1,082

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 June 30, 2023 and December 31, 2022, is as follows:


	June 30,		December 31,
	2023		2022
	(In thousands)
Standby letters of credit and financial guarantees	$	24,892	$	24,749
Loans sold with recourse	103,524		110,891

OPERATING LEASES (Tables)

6 Months Ended

Jun. 30, 2023

Lessee Disclosure [Abstract]

Schedule of Operating Lease Cost


	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2023		2022		2023		2022		Statement of Operations Classification
	(In thousands)
Lease costs	$	2,608	$	2,663	$	5,208	$	5,218	Occupancy and equipment
Variable lease costs	347		285		687		832		Occupancy and equipment
Short-term lease cost	148		282		305		537		Occupancy and equipment
Lease income	(17)		(53)		(54)		(129)		Occupancy and equipment
Total lease cost	$	3,086	$	3,177	$	6,146	$	6,458

Schedule of Operating Lease Assets and Liabilities


	June 30,		December 31,
	2023		2022		Statement of Financial Condition Classification
	(In thousands)
Right-of-use assets	$	21,840	$	25,363	Operating lease right-of-use assets
Lease Liabilities	$	24,031	$	27,370	Operating leases liabilities

Schedule of Operating Lease, Other Information


	June 30,		December 31,
	2023		2022
	(In thousands)
Weighted-average remaining lease term	4.9 years		5.1 years
Weighted-average discount rate	6.9	%	6.8	%

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 June 30, 2023 were as follows:


	Minimum Rent
As of June 30, 2023	(In thousands)
2024	$	4,676
2025	7,402
2026	5,244
2027	3,199
2028	2,377
Thereafter	5,773
Total lease payments	$	28,671
Less imputed interest	4,640
Present value of lease liabilities	$	24,031

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2023

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:


	June 30, 2023
	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
	(In thousands)
Recurring fair value measurements:
Investment securities available-for-sale	$	748	$	1,140,677	$	420	$	1,141,845
Trading securities	—		13		—		13
Money market investments	3,427		—		—		3,427
Derivative assets	—		120		—		120
Servicing assets	—		—		49,966		49,966

	$	4,175	$	1,140,810	$	50,386	$	1,195,371
Non-recurring fair value measurements:
Collateral dependent loans	$	—	$	—	$	9,945	$	9,945
Foreclosed real estate	—		—		10,639		10,639
Other repossessed assets	—		—		4,004		4,004
Mortgage loans held for sale	—		—		11,397		11,397
Other loans held for sale	$	—	$	—	$	18,899	18,899
	$	—	$	—	$	54,884	$	54,884


	December 31, 2022
	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
	(In thousands)
Recurring fair value measurements:
Investment securities available-for-sale	$	309,133	$	1,103,237	$	406	$	1,412,776
Trading securities	—		9		—		9
Money market investments	4,161		—		—		4,161
Derivative assets	—		406		—		406
Servicing assets	—		—		50,921		50,921

	$	313,294	$	1,103,652	$	51,327	$	1,468,273
Non-recurring fair value measurements:
Collateral dependent loans	$	—	$	—	$	8,805	$	8,805
Foreclosed real estate	—		—		11,214		11,214
Other repossessed assets	—		—		4,617		4,617
Mortgage loans held for sale	—		—		19,499		19,499
Other loans held for sale	$	—	$	—	$	21,088	21,088
	$	—	$	—	$	65,223	$	65,223

Schedule of Reconciliation of Assets and Liabilities Using Significant Unobservable Inputs (Level 3)

The tables below present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended June 30, 2023 and 2022:

Level 3 Instruments Only


	Quarter Ended June 30,
	2023						2022
	Other debt securities available for sale		Servicing Assets		Total		Other debt securities available for sale		Servicing Assets		Total
	(In thousands)
Balance at beginning period	$	413	$	49,345	$	49,758	$	1,554	$	49,446	$	51,000
New instruments acquired	—		791		791		—		1,150		1,150

Principal repayments and amortization	—		(1,085)		(1,085)		—		(1,478)		(1,478)

Gains included in earnings			915		915		—		162		162
Gains included in other comprehensive income	7		—		7		27		—		27
Balance at end of period	$	420	$	49,966	$	50,386	$	1,581	$	49,280	$	50,861

	Six-Month Period Ended June 30,
	2023						2022
	Other debt securities available for sale		Servicing Assets		Total		Other debt securities available for sale		Servicing Assets		Total
	(In thousands)
Balance at beginning period	$	406	$	50,921	$	51,327	$	1,530	$	48,973	$	50,503
New instruments acquired	—		1,365		1,365		—		2,269		2,269

Principal repayments and amortization	—		(2,150)		(2,150)		—		(2,977)		(2,977)

(Losses) gains included in earnings	—		(170)		(170)		—		1,015		1,015
Gains included in other comprehensive income	14		—		14		51		—		51
Balance at end of period	$	420	$	49,966	$	50,386	$	1,581	$	49,280	$	50,861

Schedule of Qualitative Information for Assets and Liabilities

The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at June 30, 2023 and December 31, 2022:


	June 30, 2023
	Fair Value		Valuation Technique	Unobservable Input	Range		Weighted Average
	(In thousands)

Other debt securities available-for-sale	$	420	Cash flow valuation	Credit Rating	Baa1 - Baa3		Baa2
				Probability of Default Rate	0.15% - 2.12%		0.15	%
				Recovery Rate	34.73	%	34.73	%

Servicing assets	$	49,966	Cash flow valuation	Constant prepayment rate	3.49% - 21.68%		5.88	%
				Discount rate	10.00% - 15.50%		11.45	%

Collateral dependent loans	$	9,945	Fair value of property or collateral	Appraised value less disposition costs	10.20% - 33.20%		16.81	%

Foreclosed real estate	$	10,639	Fair value of property or collateral	Appraised value less disposition costs	10.20% - 33.20%		11.40	%

Other repossessed assets	$	4,004	Fair value of property or collateral	Estimated net realizable value less disposition costs	29.00% - 78.00%		63.87	%

Mortgage loans held for sale	$	11,397	Fair value of property	Estimated net realizable value	94.26% - 101.44%		98.31	%

Other loans held for sale	$	18,899	Bids or sales contract prices	Estimated market value	100.00% - 103.20%		100.80	%


	December 31, 2022
	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
	(In thousands)

Other debt securities available-for-sale	$	406	Cash flow valuation	Credit Rating	Baa1 - Baa3	Baa2
				Probability of Default Rate	0.15% - 2.12%	0.15	%
				Recovery Rate	34.73%	34.73	%

Servicing assets	$	50,921	Cash flow valuation	Constant prepayment rate	3.43% - 21.20%	5.66	%
				Discount rate	10.00% - 15.50%	11.45	%

Collateral dependent loans	$	8,805	Fair value of property or collateral	Appraised value less disposition costs	10.20% - 51.20%	17.11	%

Foreclosed real estate	$	11,214	Fair value of property or collateral	Appraised value less disposition costs	10.20% - 33.20%	11.81	%

Other repossessed assets	$	4,617	Fair value of property or collateral	Estimated net realizable value less disposition costs	22.00% - 80.00%	58.49	%

Mortgage loans held for sale	$	19,499	Fair value of property	Estimated net realizable value	83.25% - 102.43%	71.86%

Other loans held for sale	$	21,088	Bids or sales contract prices	Estimated market value	100.00% - 103.20%	74.65%

Schedule of Estimated Fair Value and Carrying Value

The estimated fair value and carrying value of OFG’s financial instruments at June 30, 2023 and December 31, 2022 was as follows:


	June 30,				December 31,
	2023				2022
	Fair Value		Carrying Value		Fair Value		Carrying Value
	(In thousands)

Financial Assets:
Level 1
Cash and cash equivalents	$	798,973	$	798,973	$	550,307	$	550,307
Restricted cash	$	—	$	—	$	157	$	157
Investment securities available-for-sale	$	748	$	748	$	309,133	$	309,133
Level 2
Financial Assets:
Trading securities	$	13	$	13	$	9	$	9
Investment securities available-for-sale	$	1,140,677	$	1,140,677	$	1,103,237	$	1,103,237
Investment securities held-to-maturity	$	461,378	$	525,413	$	469,186	$	535,070
Federal Home Loan Bank (FHLB) stock	$	15,642	$	15,642	$	6,005	$	6,005
Equity securities	$	20,304	$	20,304	$	17,662	$	17,662
Derivative assets	$	120	$	120	$	406	$	406


Level 3
Financial Assets:
Investment securities available for sale	$	420	$	420	$	406	$	406
Total loans (including loans held-for-sale)	$	6,782,477	$	6,988,244	$	6,467,878	$	6,723,236
Accrued interest receivable	$	63,357	$	63,357	$	62,402	$	62,402
Servicing assets	$	49,966	$	49,966	$	50,921	$	50,921
Accounts receivable and other assets	$	54,040	$	54,040	$	61,014	$	61,014
Financial Liabilities:
Deposits	$	8,537,018	$	8,538,026	$	8,556,300	$	8,568,364

Advances from FHLB	$	223,434	$	226,507	$	26,716	$	26,716
Other borrowings	$	—	$	—	$	318	$	318

Accrued expenses and other liabilities	$	107,287	$	107,287	$	124,999	$	124,999

BANKING AND FINANCIAL SERVICE REVENUES (Tables)

6 Months Ended

Jun. 30, 2023

Banking and Thrift, Interest [Abstract]

Schedule of Commissions and Fees Revenues

The following table presents the major categories of banking and financial service revenues for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30,				Six-Month Period Ended June 30,
	2023		2022		2023		2022
	(In thousands)				(In thousands)
Banking service revenues:
Electronic banking fees	$	13,603	$	14,080	$	26,969	$	27,174
Checking accounts fees	2,184		2,225		4,404		4,370
Savings accounts fees	327		326		660		605
Credit life commissions	119		291		224		595
Branch service commissions	324		300		746		660
Servicing and other loan fees	702		669		1,584		1,806
International fees	179		246		362		485
Miscellaneous income	2		4		4		8
Total banking service revenues	17,440		18,141		34,953		35,703

Wealth management revenue:
Insurance income	4,169		3,818		7,539		6,852
Broker fees	1,797		1,714		3,580		3,603
Trust fees	2,228		2,566		4,152		5,307
Retirement plan and administration fees	—		172		43		365

Total wealth management revenue	8,194		8,270		15,314		16,127

Mortgage banking activities:
Net servicing fees	4,650		3,839		7,493		8,202
Net gains on sale of mortgage loans and valuation	790		993		1,559		2,308
Net (loss) gain on repurchased loans and other	(215)		(29)		71		75
Total mortgage banking activities	5,225		4,803		9,123		10,585
Total banking and financial service revenues	$	30,859	$	31,214	$	59,390	$	62,415

BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Following are the results of operations and the selected financial information by operating segment for the quarters and six month periods ended June 30, 2023 and 2022:


	Quarter Ended June 30, 2023
	Banking		Wealth Management		Treasury		Total Major Segments		Eliminations		Consolidated Total
	(In thousands)
Interest income	$	139,999	$	6	$	22,841	$	162,846	$	(4,858)	$	157,988
Interest expense	(15,824)		—		(7,378)		(23,202)		4,858		(18,344)
Net interest income	124,175		6		15,463		139,644		—		139,644
Provision for (recapture of) credit losses	15,052		—		(8)		15,044		—		15,044
Non-interest income	23,354		7,868		(1,149)		30,073		—		30,073
Non-interest expenses	(83,876)		(4,138)		(874)		(88,888)		—		(88,888)
Intersegment revenue	575		—		—		575		(575)		—
Intersegment expenses	—		(380)		(195)		(575)		575		—
Income before income taxes	49,176		3,356		13,253		65,785		—		65,785
Income tax expense	21,577		20		15		21,612		—		21,612
Net income	$	27,599	$	3,336	$	13,238	$	44,173	$	—	$	44,173
Total assets	$	8,720,156	$	33,946	$	2,338,820	$	11,092,922	$	(1,061,375)	$	10,031,547


	Six-Month Period Ended June 30, 2023
	Banking		Wealth Management		Treasury		Total		Eliminations		Consolidated Total
	(In thousands)
Interest income	$	272,424	$	11	$	43,967	$	316,402	$	(9,429)	$	306,973
Interest expense	(28,205)		—		(12,656)		(40,861)		9,429		(31,432)
Net interest income	244,219		11		31,311		275,541		—		275,541
Provision for credit losses	24,457		—		32		24,489		—		24,489
Non-interest income	44,979		15,144		(1,149)		58,974		—		58,974
Non-interest expenses	(169,241)		(8,093)		(1,774)		(179,108)		—		(179,108)
Intersegment revenue	1,122		—		—		1,122		(1,122)		—
Intersegment expenses	—		(758)		(364)		(1,122)		1,122		—
Income before income taxes	$	96,622	$	6,304	$	27,992	$	130,918	$	—	$	130,918
Income tax expense	40,469		20		27		40,516		—		40,516
Net income	$	56,153	$	6,284	$	27,965	$	90,402	$	—	$	90,402
Total assets	$	8,720,156	$	33,946	$	2,338,820	$	11,092,922	$	(1,061,375)	$	10,031,547

Eliminations include interest income and expense for a borrowing by Oriental Overseas, an international banking entity

organized in Puerto Rico pursuant to the Puerto Rico International Banking Center Regulatory Act, as amended,

which operates as a unit within the Bank. It is included in the Treasury Segment with its corresponding interest expense, to fund its operations, from the Bank, which is included in the Banking Segment with its corresponding interest income, with an unpaid principal balance of $364.2 million and $465.3 million at June 30, 2023 and 2022, respectively, and is eliminated in the consolidation. Interest income is accrued on the unpaid principal balance. The increase in interest income and interest expense from the prior year period was mainly as a result of Federal Open Market Committee of the Board of Governors of the Federal Reserve System (“FRB”) federal funds rate increases and higher average borrowing balance.


	Quarter Ended June 30, 2022
	Banking		Wealth Management		Treasury		Total Major Segments		Eliminations		Consolidated Total
	(In thousands)
Interest income	$	111,653	$	5	$	11,228	$	122,886	$	(664)	$	122,222
Interest expense	(6,893)		—		(899)		(7,792)		664		(7,128)
Net interest income	104,760		5		10,329		115,094		—		115,094
Provision for credit losses	6,634		—		57		6,691		—		6,691
Non-interest income	27,802		8,408		—		36,210		—		36,210
Non-interest expenses	(79,656)		(4,795)		(807)		(85,258)		—		(85,258)
Intersegment revenue	543		—		—		543		(543)		—
Intersegment expenses	—		(376)		(167)		(543)		543		—
Income before income taxes	46,815		3,242		9,298		59,355		—		59,355
Income tax expense	18,580		—		343		18,923		—		18,923
Net income	$	28,235	$	3,242	$	8,955	$	40,432	$	—	$	40,432
Total assets	$	8,235,814	$	28,240	$	2,997,323	$	11,261,377	$	(1,013,603)	$	10,247,774


	Six-Month Period Ended June 30, 2022
	Banking		Wealth Management		Treasury		Total		Eliminations		Consolidated Total
	(In thousands)
Interest income	$	219,078	$	10	$	16,958	$	236,046	$	(875)	$	235,171
Interest expense	(13,904)		—		(1,854)		(15,758)		875		(14,883)
Net interest income	205,174		10		15,104		220,288		—		220,288
Provision for (recapture of) credit losses	8,344		—		(102)		8,242		—		8,242
Non-interest income	51,352		16,414		50		67,816		—		67,816
Non-interest expenses	(155,447)		(9,380)		(1,586)		(166,413)		—		(166,413)
Intersegment revenue	1,057		—		—		1,057		(1,057)		—
Intersegment expenses	—		(719)		(338)		(1,057)		1,057		—
Income before income taxes	$	93,792	$	6,325	$	13,332	$	113,449	$	—	$	113,449
Income tax expense	35,062		—		434		35,496		—		35,496
Net income	$	58,730	$	6,325	$	12,898	$	77,953	$	—	$	77,953
Total assets	$	8,235,814	$	28,240	$	2,997,323	$	11,261,377	$	(1,013,603)	$	10,247,774

RESTRICTED CASH (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 0	$ 157	$ 169
Reserve required by local government	$ 464,500	482,900
Securities Sold under Agreements to Repurchase
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		$ 157

INVESTMENT SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Money market investments	$ 3,427	$ 4,913	$ 4,161
Restricted cash	0	169	157
Securitized GNMA pools retained, amortized cost	$ 41,100	$ 53,500
Securitized GNMA pool retained, yield	5.16%	3.11%
Retained FNMA pools	$ 12,600	$ 0
FNMA pools retained, yield	5.31%
Proceeds from sale of available for sale securities		0
Investment securities \| US Treasury securities
Debt Securities, Available-for-sale [Line Items]
Available for sale, purchase price	$ 755	$ 735
Proceeds from sale of available for sale securities	203,300
Loss on available for sale securities	1,100
OIB
Debt Securities, Available-for-sale [Line Items]
Restricted cash	325		325
Oriental Overseas
Debt Securities, Available-for-sale [Line Items]
Restricted cash	325		325
Asset Pledged as Collateral
Debt Securities, Available-for-sale [Line Items]
Pledged assets	378,600		294,200
Asset Pledged as Collateral \| Public Funds
Debt Securities, Available-for-sale [Line Items]
Pledged assets	$ 328,200		$ 293,700

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - AFS) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Amortized Cost	$ 1,247,149	$ 1,522,812
Gross Unrealized Gains	1,724	995
Gross Unrealized Losses	107,028	111,031
Fair Value	$ 1,141,845	$ 1,412,776
Weighted Average Yield	2.97%	2.90%
Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,245,340	$ 1,210,834
Gross Unrealized Gains	1,680	965
Gross Unrealized Losses	107,024	109,298
Fair Value	$ 1,139,996	$ 1,102,501
Weighted Average Yield	2.96%	2.79%
Mortgage-backed securities \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 847,845	$ 837,703
Gross Unrealized Gains	125	59
Gross Unrealized Losses	69,120	69,646
Fair Value	$ 778,850	$ 768,116
Weighted Average Yield	2.93%	2.79%
Mortgage-backed securities \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 384,900	$ 357,497
Gross Unrealized Gains	1,555	906
Gross Unrealized Losses	37,221	38,869
Fair Value	$ 349,234	$ 319,534
Weighted Average Yield	3.07%	2.80%
Mortgage-backed securities \| CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 12,595	$ 15,634
Gross Unrealized Gains	0	0
Gross Unrealized Losses	683	783
Fair Value	$ 11,912	$ 14,851
Weighted Average Yield	2.02%	1.99%
Mortgage-backed securities \| Due less than 1 year \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 0
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	$ 0
Weighted Average Yield	0.00%
Mortgage-backed securities \| Due less than 1 year \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 0
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	$ 0
Weighted Average Yield	0.00%
Mortgage-backed securities \| Due from 1 to 5 years \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 8,463	$ 10,155
Gross Unrealized Gains	0	0
Gross Unrealized Losses	485	550
Fair Value	$ 7,978	$ 9,605
Weighted Average Yield	1.76%	1.76%
Mortgage-backed securities \| Due from 1 to 5 years \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 10,633	$ 12,505
Gross Unrealized Gains	0	0
Gross Unrealized Losses	558	632
Fair Value	$ 10,075	$ 11,873
Weighted Average Yield	1.69%	1.66%
Mortgage-backed securities \| Due from 1 to 5 years \| CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 11,425	$ 14,190
Gross Unrealized Gains	0	0
Gross Unrealized Losses	659	755
Fair Value	$ 10,766	$ 13,435
Weighted Average Yield	1.78%	1.78%
Mortgage-backed securities \| Due from 5 to 10 years \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 52,433	$ 59,167
Gross Unrealized Gains	0	0
Gross Unrealized Losses	3,803	3,764
Fair Value	$ 48,630	$ 55,403
Weighted Average Yield	2.00%	2.00%
Mortgage-backed securities \| Due from 5 to 10 years \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 20,551	$ 24,575
Gross Unrealized Gains	7	14
Gross Unrealized Losses	1,450	1,585
Fair Value	$ 19,108	$ 23,004
Weighted Average Yield	2.16%	2.13%
Mortgage-backed securities \| Due from 5 to 10 years \| CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 265	$ 485
Gross Unrealized Gains	0	0
Gross Unrealized Losses	4	10
Fair Value	$ 261	$ 475
Weighted Average Yield	2.14%	2.14%
Mortgage-backed securities \| Due after 10 years \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 786,949	$ 768,381
Gross Unrealized Gains	125	59
Gross Unrealized Losses	64,832	65,332
Fair Value	$ 722,242	$ 703,108
Weighted Average Yield	3.00%	2.87%
Mortgage-backed securities \| Due after 10 years \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 353,716	$ 320,417
Gross Unrealized Gains	1,548	892
Gross Unrealized Losses	35,213	36,652
Fair Value	$ 320,051	$ 284,657
Weighted Average Yield	3.16%	2.90%
Mortgage-backed securities \| Due after 10 years \| CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 905	$ 959
Gross Unrealized Gains	0	0
Gross Unrealized Losses	20	18
Fair Value	$ 885	$ 941
Weighted Average Yield	5.07%	5.06%
Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,809	$ 311,978
Gross Unrealized Gains	44	30
Gross Unrealized Losses	4	1,733
Fair Value	$ 1,849	$ 310,275
Weighted Average Yield	4.63%	3.35%
Investment securities \| US Treasury securities
Schedule of Investments [Line Items]
Amortized Cost	$ 748
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	$ 748
Weighted Average Yield	4.77%
Investment securities \| Other debt securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,061
Gross Unrealized Gains	44
Gross Unrealized Losses	4
Fair Value	$ 1,101
Weighted Average Yield	4.53%
Investment securities \| Due less than 1 year \| US Treasury securities
Schedule of Investments [Line Items]
Amortized Cost	$ 748	$ 310,862
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	1,729
Fair Value	$ 748	$ 309,133
Weighted Average Yield	4.77%	3.34%
Investment securities \| Due less than 1 year \| Other debt securities
Schedule of Investments [Line Items]
Amortized Cost	$ 376
Gross Unrealized Gains	44
Gross Unrealized Losses	0
Fair Value	$ 420
Weighted Average Yield	7.00%
Investment securities \| Due from 1 to 5 years \| Other debt securities
Schedule of Investments [Line Items]
Amortized Cost	$ 685	$ 1,116
Gross Unrealized Gains	0	30
Gross Unrealized Losses	4	4
Fair Value	$ 681	$ 1,142
Weighted Average Yield	3.18%	4.45%

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - HTM) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 525,413	$ 535,070
Gross Unrealized Gains	0	0
Gross Unrealized Losses	64,035	65,884
Fair Value	$ 461,378	$ 469,186
Weighted Average Yield	2.34%	2.30%
Due less than 1 year \| Investment securities \| US Treasury securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 198,478
Gross Unrealized Gains	0
Gross Unrealized Losses	3,697
Fair Value	$ 194,781
Weighted Average Yield	3.34%
Due from 1 to 5 years \| Investment securities \| US Treasury securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		$ 197,635
Gross Unrealized Gains		0
Gross Unrealized Losses		3,526
Fair Value		$ 194,109
Weighted Average Yield		3.36%
Due after 10 years \| Mortgage-backed securities \| FNMA and FHLMC certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 326,935	$ 337,435
Gross Unrealized Gains	0	0
Gross Unrealized Losses	60,338	62,358
Fair Value	$ 266,597	$ 275,077
Weighted Average Yield	1.72%	1.71%

INVESTMENT SECURITIES (Sale of securities available-for-sale) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of Investments [Line Items]
Investment securities available-for-sale	$ 202,133	$ 0
Proceeds from sale of available for sale securities		$ 0
Investment securities \| US Treasury securities
Schedule of Investments [Line Items]
Investment securities available-for-sale	202,133
Proceeds from sale of available for sale securities	203,282
Gross Gains	0
Loss on available for sale securities	$ 1,149

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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INVESTMENT SECURITIES (Unrealized Gains and Losses by Category) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Securities Available-for-Sale, Amortized Cost
12 months or more	$ 764,320	$ 171,011
Less than 12 months	422,172	1,323,800
Amortized Cost	1,186,492	1,494,811
Held-to-Maturity, Amortized Cost
Total	525,413	535,070
Securities Available-for-Sale, Unrealized Loss
12 months or more	89,291	33,027
Less than 12 months	17,738	78,004
Total	107,028	111,031
Held-to-Maturity, Unrealized Loss
Total	64,035	65,884
Securities Available-for-Sale, Fair Value
12 months or more	675,029	137,984
Less than 12 months	404,434	1,245,796
Total	1,079,464	1,383,780
Held-to-Maturity, Fair Value
Total	461,378	469,186
CMOs issued by US Government-sponsored agencies
Securities Available-for-Sale, Amortized Cost
12 months or more	12,595	337
Less than 12 months		15,297
Amortized Cost	12,595	15,634
Securities Available-for-Sale, Unrealized Loss
12 months or more	683	7
Less than 12 months		776
Total	683	783
Securities Available-for-Sale, Fair Value
12 months or more	11,912	330
Less than 12 months		14,521
Total	11,912	14,851
FNMA and FHLMC certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	493,276	88,600
Less than 12 months	345,324	745,566
Amortized Cost	838,600	834,166
Held-to-Maturity, Amortized Cost
12 months or more	326,935	337,435
Total	326,935	337,435
Securities Available-for-Sale, Unrealized Loss
12 months or more	53,454	18,989
Less than 12 months	15,666	50,657
Total	69,120	69,646
Held-to-Maturity, Unrealized Loss
12 months or more	60,338	62,358
Total	60,338	62,358
Securities Available-for-Sale, Fair Value
12 months or more	439,822	69,611
Less than 12 months	329,658	694,909
Total	769,480	764,520
Held-to-Maturity, Fair Value
12 months or more	266,597	275,077
Total	266,597	275,077
GNMA Securities
Securities Available-for-Sale, Amortized Cost
12 months or more	258,449	82,074
Less than 12 months	76,664	251,835
Amortized Cost	335,113	333,909
Securities Available-for-Sale, Unrealized Loss
12 months or more	35,154	14,031
Less than 12 months	2,068	24,838
Total	37,221	38,869
Securities Available-for-Sale, Fair Value
12 months or more	223,295	68,043
Less than 12 months	74,596	226,997
Total	297,892	295,040
US Treasury securities
Securities Available-for-Sale, Amortized Cost
Less than 12 months		310,862
Amortized Cost		310,862
Held-to-Maturity, Amortized Cost
Less than 12 months	198,478	197,635
Total	198,478	197,635
Securities Available-for-Sale, Unrealized Loss
Less than 12 months		1,729
Total		1,729
Held-to-Maturity, Unrealized Loss
Less than 12 months	3,697	3,526
Total	3,697	3,526
Securities Available-for-Sale, Fair Value
Less than 12 months		309,133
Total		309,133
Held-to-Maturity, Fair Value
Less than 12 months	194,781	194,109
Total	194,781	194,109
Other debt securities available for sale
Securities Available-for-Sale, Amortized Cost
Less than 12 months	184	240
Amortized Cost	184	240
Securities Available-for-Sale, Unrealized Loss
Less than 12 months	4	4
Total	4	4
Securities Available-for-Sale, Fair Value
Less than 12 months	180	236
Total	$ 180	$ 236

LOANS (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
LOANS (Narrative) (Details) $ in Thousands	Jul. 31, 2023 USD ($)	Jun. 30, 2023 USD ($) portfolioSegment	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) portfolioSegment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan portfolio segments \| portfolioSegment		4		4
Total Loans		$ 7,117,871		$ 7,117,871		$ 6,835,322
Total loans held for sale		30,296		30,296		40,587
Total						165,484
Accrued interest receivable on modified loans				5
Net interest income		139,644	$ 115,094	275,541	$ 220,288
Recorded investment of residential mortgage loans collateralized and in process of foreclosure		25,800		25,800		14,900
Balance of revolving loans converted to term loans, amount		79,400		79,400		78,000
Accrued interest receivable		63,357		63,357		62,402
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable		58,638		58,638		58,144
Non-accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total						20,329
Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total						145,155
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		5,980,263		5,980,263		5,641,446
Total loans held for sale		30,296		30,296		40,587
Non-PCD \| Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		219,643		219,643		227,763
Mortgage Loans - GNMA Buy-Back Option Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loans		18,400		18,400		32,600
Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loans transferred to held-for-investment				8,700	1,100
Total Loans		1,622,388		1,622,388		1,704,221
Total loans held for sale		$ 11,397		$ 11,397		19,499
Total						109,160
Recorded Investment					800
Mortgage \| Government Guaranteed Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Period past due		90 days		90 days
Nonaccrual status				12 months
Total		$ 4,200		$ 4,200		43,500
Mortgage \| Non-accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total						6,773
Mortgage \| Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total						102,387
Mortgage \| Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		641,555		641,555		675,793
Total loans held for sale		11,397		11,397		19,499
Mortgage \| Non-PCD \| Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		49,607		49,607		71,829
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loans transferred to held-for-investment					$ 16,900
Total Loans		2,774,398		2,774,398		2,629,929
Total loans held for sale		18,899		18,899		21,088
Total						54,382
Commitment to lend additional funds		0		0		3,200
Commercial loans \| Non-accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for sale		14,300		14,300		16,400
Total						13,541
Commercial loans \| Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total						40,841
Commercial loans \| Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for sale						21,100
Commercial loans \| Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		2,621,510		2,621,510		2,470,777
Total loans held for sale		18,899		18,899		21,088
Commercial loans \| Non-PCD \| Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		28,643		28,643		12,122
Total loans held for sale		6,400		6,400
Commercial loans \| US commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		669,332		669,332		642,133
Total						7,132
Unpaid principal balance		8,900
Private stock value		1,600
Commercial loans \| US commercial loans \| Principal Forbearance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance		4,600
Commercial loans \| US commercial loans \| Subsequent Event \| Principal Forbearance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance	$ 4,400
Private stock value	$ 279
Commercial loans \| US commercial loans \| Non-accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total						0
Commercial loans \| US commercial loans \| Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total						7,132
Commercial loans \| US commercial loans \| Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		669,332		669,332		642,133
Commercial loans \| US commercial loans \| Non-PCD \| Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		15,991		15,991		0
Commercial loans \| Puerto Rico \| Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		70,600		70,600		73,700
Mortgage and consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance of revolving loans converted to term loans, amount		0		0		0
Mortgage and consumer loans \| Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans		$ 1,234,677		$ 1,234,677		$ 1,212,412

LOANS (Composition of Loan Portfolio) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 7,117,871		$ 6,835,322
Allowance for credit losses	(159,923)		(152,673)	$ (159,039)
Total loans held for investment, net	6,957,948		6,682,649
Total loans held for sale	30,296		40,587
Total loans	6,988,244		6,723,236
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,774,398		2,629,929
Allowance for credit losses	(50,012)			(44,441)
Total loans held for sale	18,899		21,088
Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,622,388		1,704,221
Allowance for credit losses	(16,967)			(24,447)
Total loans held for sale	11,397		19,499
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	593,690		537,257
Allowance for credit losses	(25,674)			(23,129)
Auto loans and leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,127,395		1,963,915
Allowance for credit losses	(67,270)			(67,022)
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	5,980,263		5,641,446
Allowance for credit losses	(150,167)	$ (141,385)	(141,841)	(143,896)	$ (137,344)	$ (132,065)
Total loans held for investment, net	5,830,096		5,499,605
Total loans held for sale	30,296		40,587
Total loans	5,860,392		5,540,192
Non-PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,621,510		2,470,777
Allowance for credit losses	(48,604)	(37,774)	(39,158)	(42,014)	(37,097)	(32,262)
Total loans held for sale	18,899		21,088
Non-PCD \| Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	641,555		675,793
Allowance for credit losses	(8,670)	(9,083)	(9,571)	(11,906)	(14,952)	(15,299)
Total loans held for sale	11,397		19,499
Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	593,122		536,619
Allowance for credit losses	(25,666)	(24,664)	(23,264)	(23,109)	(21,100)	(19,141)
Non-PCD \| Auto loans and leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,124,076		1,958,257
Allowance for credit losses	(67,227)	(69,864)	(69,848)	(66,867)	(64,195)	(65,363)
PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,137,608		1,193,876
Allowance for credit losses	(9,756)	(10,499)	(10,832)	(15,143)	(19,731)	(23,872)
Total loans held for investment, net	1,127,852		1,183,044
Total loans held for sale	0		0
Total loans	1,127,852		1,183,044
PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	152,888		159,152
Allowance for credit losses	(1,408)	(1,693)	(1,388)	(2,427)	(3,622)	(4,508)
Total loans held for sale	0		0
PCD \| Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	980,833		1,028,428
Allowance for credit losses	(8,297)	(8,717)	(9,359)	(12,541)	(15,881)	(19,018)
Total loans held for sale	0		0
PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	568		638
Allowance for credit losses	(8)	(12)	(14)	(20)	(31)	(34)
PCD \| Auto loans and leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	3,319		5,658
Allowance for credit losses	(43)	$ (77)	(71)	$ (155)	$ (197)	$ (312)
Commercial secured by real estate \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,111,896		1,112,880
Commercial secured by real estate \| Non-PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	980,570		974,202
Commercial secured by real estate \| PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	131,326		138,678
Other commercial and industrial \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	993,170		874,916
Other commercial and industrial \| Non-PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	971,608		854,442
Other commercial and industrial \| PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	21,562		20,474
US commercial loans \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	669,332		642,133
US commercial loans \| Non-PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	669,332		642,133
US commercial loans \| PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	0		0
Personal loans \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	541,269		480,958
Personal loans \| Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	540,975		480,620
Personal loans \| PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	294		338
Credit lines \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	11,586		13,126
Credit lines \| Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	11,312		12,826
Credit lines \| PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	274		300
Credit cards \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	40,561		42,872
Credit cards \| Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	40,561		42,872
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	274		301
Overdraft \| Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	274		301
Overdraft \| PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 0		$ 0

LOANS (Aging of Recorded Investment in Gross Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Total Loans	$ 7,117,871	$ 6,835,322
Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,980,263	5,641,446
Loans 90+ Days Past Due and Still Accruing	2,600	3,856
30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	97,229	91,954
60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	53,840	46,997
90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	68,574	88,812
Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	219,643	227,763
Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,760,620	5,413,683
Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	2,774,398	2,629,929
Commercial \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,621,510	2,470,777
Loans 90+ Days Past Due and Still Accruing	0	0
Commercial \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,412	1,866
Commercial \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	10,256	884
Commercial \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	16,975	9,372
Commercial \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	28,643	12,122
Commercial \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,592,867	2,458,655
Mortgage
Financing Receivable, Past Due [Line Items]
Total Loans	1,622,388	1,704,221
Mortgage \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	641,555	675,793
Loans 90+ Days Past Due and Still Accruing	2,600	3,856
Mortgage \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,773	9,267
Mortgage \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	8,203	5,848
Mortgage \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	35,631	56,714
Mortgage \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	49,607	71,829
Mortgage \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	591,948	603,964
Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	593,690	537,257
Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	593,122	536,619
Loans 90+ Days Past Due and Still Accruing	0	0
Consumer \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,163	5,584
Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	3,025	3,311
Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,838	3,113
Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	11,026	12,008
Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	582,096	524,611
Auto loans and leases
Financing Receivable, Past Due [Line Items]
Total Loans	2,127,395	1,963,915
Auto loans and leases \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,124,076	1,958,257
Loans 90+ Days Past Due and Still Accruing	0	0
Auto loans and leases \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	84,881	75,237
Auto loans and leases \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	32,356	36,954
Auto loans and leases \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	13,130	19,613
Auto loans and leases \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	130,367	131,804
Auto loans and leases \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,993,709	1,826,453
Commercial secured by real estate: \| Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	1,111,896	1,112,880
Commercial secured by real estate: \| Commercial \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	980,570	974,202
Loans 90+ Days Past Due and Still Accruing	0	0
Commercial secured by real estate: \| Commercial \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	825	923
Commercial secured by real estate: \| Commercial \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	274	164
Commercial secured by real estate: \| Commercial \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,502	6,147
Commercial secured by real estate: \| Commercial \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	7,601	7,234
Commercial secured by real estate: \| Commercial \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	972,969	966,968
Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	971,608	854,442
Loans 90+ Days Past Due and Still Accruing	0	0
Other commercial and industrial \| Commercial \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	587	943
Other commercial and industrial \| Commercial \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	261	720
Other commercial and industrial \| Commercial \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	4,203	3,225
Other commercial and industrial \| Commercial \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,051	4,888
Other commercial and industrial \| Commercial \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	966,557	849,554
US commercial loans: \| Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	669,332	642,133
US commercial loans: \| Commercial \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	669,332	642,133
Loans 90+ Days Past Due and Still Accruing	0	0
US commercial loans: \| Commercial \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
US commercial loans: \| Commercial \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	9,721	0
US commercial loans: \| Commercial \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,270	0
US commercial loans: \| Commercial \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	15,991	0
US commercial loans: \| Commercial \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	653,341	642,133
Personal loans \| Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	541,269	480,958
Personal loans \| Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	540,975	480,620
Loans 90+ Days Past Due and Still Accruing	0	0
Personal loans \| Consumer \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	4,595	4,263
Personal loans \| Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,709	2,669
Personal loans \| Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,163	2,314
Personal loans \| Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	9,467	9,246
Personal loans \| Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	531,508	471,374
Credit lines \| Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	11,586	13,126
Credit lines \| Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	11,312	12,826
Loans 90+ Days Past Due and Still Accruing	0	0
Credit lines \| Consumer \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	75	500
Credit lines \| Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	26	154
Credit lines \| Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	64	117
Credit lines \| Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	165	771
Credit lines \| Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	11,147	12,055
Credit cards \| Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	40,561	42,872
Credit cards \| Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	40,561	42,872
Loans 90+ Days Past Due and Still Accruing	0	0
Credit cards \| Consumer \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	440	730
Credit cards \| Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	290	486
Credit cards \| Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	611	682
Credit cards \| Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,341	1,898
Credit cards \| Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	39,220	40,974
Overdraft \| Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	274	301
Overdraft \| Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	274	301
Loans 90+ Days Past Due and Still Accruing	0	0
Overdraft \| Consumer \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	53	91
Overdraft \| Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	2
Overdraft \| Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Overdraft \| Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	53	93
Overdraft \| Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	$ 221	$ 208

LOANS (Investment in Loans on Non-Accrual Status) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	$ 66,065	$ 53,595
Non-accrual with no Allowance for Credit Loss	20,741	36,005
Total	86,806	89,600
Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	63,262	50,529
Non-accrual with no Allowance for Credit Loss	15,184	29,885
Total	78,446	80,414
PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	2,803	3,066
Non-accrual with no Allowance for Credit Loss	5,557	6,120
Total	8,360	9,186
Commercial \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	34,430	16,449
Non-accrual with no Allowance for Credit Loss	8,758	17,983
Total	43,188	34,432
Commercial \| PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	2,547	2,807
Non-accrual with no Allowance for Credit Loss	5,557	6,120
Total	8,104	8,927
Mortgage \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	13,091	11,719
Non-accrual with no Allowance for Credit Loss	6,130	11,522
Total	19,221	23,241
Mortgage \| PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	256	259
Non-accrual with no Allowance for Credit Loss	0	0
Total	256	259
Consumer \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	2,615	2,749
Non-accrual with no Allowance for Credit Loss	292	379
Total	2,907	3,128
Auto loans and leases \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	13,126	19,612
Non-accrual with no Allowance for Credit Loss	4	1
Total	13,130	19,613
Commercial secured by real estate: \| Commercial \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	6,012	4,091
Non-accrual with no Allowance for Credit Loss	8,478	17,098
Total	14,490	21,189
Commercial secured by real estate: \| Commercial \| PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	2,547	2,807
Non-accrual with no Allowance for Credit Loss	4,353	6,084
Total	6,900	8,891
Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	4,413	2,769
Non-accrual with no Allowance for Credit Loss	280	885
Total	4,693	3,654
Other commercial and industrial \| Commercial \| PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	0	0
Non-accrual with no Allowance for Credit Loss	1,204	36
Total	1,204	36
US commercial loans \| Commercial \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	24,005	9,589
Non-accrual with no Allowance for Credit Loss	0	0
Total	24,005	9,589
Personal loans \| Consumer \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	1,940	1,950
Non-accrual with no Allowance for Credit Loss	292	379
Total	2,232	2,329
Credit lines \| Consumer \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	63	116
Non-accrual with no Allowance for Credit Loss	0	0
Total	63	116
Credit cards \| Consumer \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	612	683
Non-accrual with no Allowance for Credit Loss	0	0
Total	$ 612	$ 683

LOANS (Troubled-Amortized Cost Basis Debt Restructuring Loan Portfolio) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 7,315		$ 10,275
Combination - Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	475		686
Extended Maturity and Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	4,691		4,691
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 37,808		$ 38,560
Commercial loans \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 5,488		$ 5,957
Percentage of Total Class of Financing Receivable	0.20%		0.21%
Commercial loans \| Commercial secured by real estate: \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 5,341		$ 5,810
Percentage of Total Class of Financing Receivable	0.48%		0.52%
Commercial loans \| Other commercial and industrial \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 147		$ 147
Percentage of Total Class of Financing Receivable	0.01%		0.01%
Commercial loans \| US commercial loans \| Extended Maturity and Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 4,260		$ 4,260
Percentage of Total Class of Financing Receivable	0.64%		0.64%
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis				9,471
Mortgage \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 1,827		$ 4,318
Percentage of Total Class of Financing Receivable	0.11%		0.27%
Mortgage \| Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis			$ 100
Percentage of Total Class of Financing Receivable			0.01%
Mortgage \| Combination - Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 417		$ 602
Percentage of Total Class of Financing Receivable	0.03%		0.02%
Mortgage \| Extended Maturity and Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 431		$ 431
Percentage of Total Class of Financing Receivable	0.03%		0.03%
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 9		$ 22
Consumer \| Personal loans \| Combination - Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 58		$ 84
Percentage of Total Class of Financing Receivable	0.01%		0.02%

LOANS (Effect of Combined Modifications) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	0.00%	0.00%
Weighted-Average Term Extension (In months)	56 months	55 months
Weighted-Average Forgiveness/Forbearance of Principal Amount	$ 2,973	$ 2,973
Commercial loans \| Commercial secured by real estate:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	0.00%	0.00%
Weighted-Average Term Extension (In months)	25 months	24 months
Weighted-Average Forgiveness/Forbearance of Principal Amount	$ 0	$ 0
Commercial loans \| US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	0.00%	0.00%
Weighted-Average Term Extension (In months)	31 months	31 months
Weighted-Average Forgiveness/Forbearance of Principal Amount	$ 2,973	$ 2,973
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	1.86%	2.04%
Weighted-Average Term Extension (In months)	195 months	206 months
Weighted-Average Forgiveness/Forbearance of Principal Amount	$ 20	$ 24
Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	1.25%	2.50%
Weighted-Average Term Extension (In months)	110 months	81 months
Weighted-Average Forgiveness/Forbearance of Principal Amount	$ 0	$ 0

LOANS (Loans Held For Investment That Subsequently Defaulted) (Details) - Mortgage $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	$ 415
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	0
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	415
Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	0
Combination - Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	$ 0

LOANS (Aging of Loans Held For Investment) (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	$ 15,752
30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	122
90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	415
Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	537
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	15,215
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	10,217
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 \| Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	10,217
Commercial loans \| Commercial secured by real estate:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	5,810
Commercial loans \| Commercial secured by real estate: \| 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Commercial secured by real estate: \| 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Commercial secured by real estate: \| 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Commercial secured by real estate: \| Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Commercial secured by real estate: \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	5,810
Commercial loans \| Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	147
Commercial loans \| Other commercial and industrial \| 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Other commercial and industrial \| 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Other commercial and industrial \| 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Other commercial and industrial \| Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| Other commercial and industrial \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	147
Commercial loans \| US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	4,260
Commercial loans \| US commercial loans \| 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| US commercial loans \| 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| US commercial loans \| 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| US commercial loans \| Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans \| US commercial loans \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	4,260
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	5,451
Mortgage \| 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Mortgage \| 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	122
Mortgage \| 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	415
Mortgage \| Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	537
Mortgage \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	4,914
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	84
Consumer \| 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Consumer \| 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Consumer \| 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Consumer \| Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Consumer \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	84
Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	84
Consumer \| Personal loans \| 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Consumer \| Personal loans \| 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Consumer \| Personal loans \| 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Consumer \| Personal loans \| Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Consumer \| Personal loans \| Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	$ 84

LOANS (Troubled-Debt Restructuring Loan Portfolio) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 165,484
Related Allowance	2,883
Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	145,155
Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	20,329
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	54,382
Related Allowance	312
Commercial loans \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	40,841
Commercial loans \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	13,541
Commercial loans \| Commercial secured by real estate:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	44,624
Related Allowance	181
Commercial loans \| Commercial secured by real estate: \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	31,437
Commercial loans \| Commercial secured by real estate: \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	13,187
Commercial loans \| Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,626
Related Allowance	42
Commercial loans \| Other commercial and industrial \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,272
Commercial loans \| Other commercial and industrial \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	354
Commercial loans \| US commercial loans:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,132
Related Allowance	89
Commercial loans \| US commercial loans: \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,132
Commercial loans \| US commercial loans: \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	109,160
Related Allowance	2,495
Mortgage \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	102,387
Mortgage \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	6,773
Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,865
Related Allowance	73
Consumer \| Personal loans \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,850
Consumer \| Personal loans \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	15
Auto loans and leases
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	77
Related Allowance	3
Auto loans and leases \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	77
Auto loans and leases \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 0

LOANS (Troubled-Debt Restructurings By Loan Portfolio And Modification Type) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 165,484
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	48,236
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	39,017
Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	43,905
Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	34,326
Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	145,155
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	54,382
Commercial \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	15,663
Commercial \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	30,821
Commercial \| Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,898
Commercial \| Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0
Commercial \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	40,841
Commercial \| Commercial secured by real estate:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	44,624
Commercial \| Commercial secured by real estate: \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,746
Commercial \| Commercial secured by real estate: \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	29,454
Commercial \| Commercial secured by real estate: \| Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,424
Commercial \| Commercial secured by real estate: \| Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0
Commercial \| Commercial secured by real estate: \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	31,437
Commercial \| Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,626
Commercial \| Other commercial and industrial \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	785
Commercial \| Other commercial and industrial \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,367
Commercial \| Other commercial and industrial \| Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	474
Commercial \| Other commercial and industrial \| Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0
Commercial \| Other commercial and industrial \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,272
Commercial \| US commercial loans:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,132
Commercial \| US commercial loans: \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,132
Commercial \| US commercial loans: \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0
Commercial \| US commercial loans: \| Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0
Commercial \| US commercial loans: \| Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0
Commercial \| US commercial loans: \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,132
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	109,160
Mortgage \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	31,709
Mortgage \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	8,020
Mortgage \| Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	35,194
Mortgage \| Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	34,237
Mortgage \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	102,387
Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,865
Consumer \| Personal loans \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,850
Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,865
Consumer \| Personal loans \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	825
Consumer \| Personal loans \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	176
Consumer \| Personal loans \| Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	793
Consumer \| Personal loans \| Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	71
Auto loans and leases
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	77
Auto loans and leases \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	39
Auto loans and leases \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0
Auto loans and leases \| Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	20
Auto loans and leases \| Principal Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	18
Auto loans and leases \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 77

LOANS (TDR Pre/Post Modifications) (Details) $ in Thousands	3 Months Ended	6 Months Ended
LOANS (TDR Pre/Post Modifications) (Details) $ in Thousands	Jun. 30, 2022 USD ($) contract	Jun. 30, 2022 USD ($) contract
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts \| contract	36
Pre-Modification Outstanding Recorded Investment	$ 4,333
Pre-Modification Weighted Average Rate	4.58%
Pre-Modification Weighted Average Term (in Months)	267 months
Post-Modification Outstanding Recorded Investment	$ 4,608
Post-Modification Weighted Average Rate	3.68%
Post-Modification Weighted Average Term (in Months)	344 months
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts \| contract		72
Pre-Modification Outstanding Recorded Investment		$ 9,033
Pre-Modification Weighted Average Rate		4.55%
Pre-Modification Weighted Average Term (in Months)		270 months
Post-Modification Outstanding Recorded Investment		$ 9,471
Post-Modification Weighted Average Rate		3.57%
Post-Modification Weighted Average Term (in Months)		343 months
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts \| contract	2	4
Pre-Modification Outstanding Recorded Investment	$ 37,808	$ 38,703
Pre-Modification Weighted Average Rate	3.51%	3.56%
Pre-Modification Weighted Average Term (in Months)	133 months	131 months
Post-Modification Outstanding Recorded Investment	$ 37,808	$ 38,560
Post-Modification Weighted Average Rate	3.61%	3.63%
Post-Modification Weighted Average Term (in Months)	187 months	184 months
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts \| contract	1	2
Pre-Modification Outstanding Recorded Investment	$ 9	$ 22
Pre-Modification Weighted Average Rate	20.95%	19.27%
Pre-Modification Weighted Average Term (in Months)	72 months	79 months
Post-Modification Outstanding Recorded Investment	$ 9	$ 22
Post-Modification Weighted Average Rate	10.95%	10.95%
Post-Modification Weighted Average Term (in Months)	72 months	79 months

LOANS (Troubled Debt Restructurings, Rolling Twelve Months) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) contract
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	7
Recorded Investment \| $	$ 800
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	3
Recorded Investment \| $	$ 47

LOANS (Aging of the Amortized Cost of Collateral-Dependent Loans Held For Investment) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Commercial loans \| Commercial secured by real estate: \| Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized cost of collateral-dependent loans held for investment	$ 9,945	$ 8,805

LOANS (Credit Quality Indicators of Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 7,117,871		$ 7,117,871		$ 6,835,322
Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	5,980,263		5,980,263		5,641,446
Total	18,374	$ 12,901	34,869	$ 23,997
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,774,398		2,774,398		2,629,929
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			33
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			1,174
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			538
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			94
Prior, charge-offs			3,032
Revolving Loans Amortized Cost Basis, gross charge-offs			0
Total			4,871
Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	267,894		267,894		436,675
Term loans amortized by cost basis, in one year prior to current fiscal year	412,056		412,056		477,709
Term loans amortized by cost basis, in two years prior to current fiscal year	390,588		390,588		236,654
Term loans amortized by cost basis, in three years prior to current fiscal year	250,967		250,967		206,558
Term loans amortized by cost basis, in four years prior to current fiscal year	181,181		181,181		122,733
Prior	270,345		270,345		196,350
Revolving Loans Amortized Cost Basis	848,479		848,479		794,098
Total Loans	2,621,510		2,621,510		2,470,777
Total	3,496	2,907	4,871	3,451
Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,622,388		1,622,388		1,704,221
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0
Prior, charge-offs			392
Revolving Loans Amortized Cost Basis, gross charge-offs			0
Total			392
Mortgage \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	5,996		5,996		18,700
Term loans amortized by cost basis, in one year prior to current fiscal year	19,898		19,898		25,274
Term loans amortized by cost basis, in two years prior to current fiscal year	24,880		24,880		16,285
Term loans amortized by cost basis, in three years prior to current fiscal year	16,291		16,291		16,031
Term loans amortized by cost basis, in four years prior to current fiscal year	14,928		14,928		17,031
Prior	559,562		559,562		582,472
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	641,555		641,555		675,793
Total	191	259	392	262
Mortgage \| Performing \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	5,996		5,996		18,700
Term loans amortized by cost basis, in one year prior to current fiscal year	19,898		19,898		25,274
Term loans amortized by cost basis, in two years prior to current fiscal year	24,880		24,880		16,175
Term loans amortized by cost basis, in three years prior to current fiscal year	16,182		16,182		15,457
Term loans amortized by cost basis, in four years prior to current fiscal year	14,600		14,600		16,790
Prior	532,399		532,399		549,885
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	613,955		613,955		642,281
Mortgage \| Nonperforming \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		110
Term loans amortized by cost basis, in three years prior to current fiscal year	109		109		574
Term loans amortized by cost basis, in four years prior to current fiscal year	328		328		241
Prior	27,163		27,163		32,587
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	27,600		27,600		33,512
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	593,690		593,690		537,257
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			23
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			4,998
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			2,364
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			444
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			818
Prior, charge-offs			308
Revolving Loans Amortized Cost Basis, gross charge-offs			2,003
Total			10,958
Consumer \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	161,389		161,389		285,014
Term loans amortized by cost basis, in one year prior to current fiscal year	233,500		233,500		113,252
Term loans amortized by cost basis, in two years prior to current fiscal year	87,933		87,933		31,987
Term loans amortized by cost basis, in three years prior to current fiscal year	24,942		24,942		32,150
Term loans amortized by cost basis, in four years prior to current fiscal year	22,285		22,285		12,103
Prior	10,926		10,926		6,114
Revolving Loans Amortized Cost Basis	52,147		52,147		55,999
Total Loans	593,122		593,122		536,619
Total	5,518	3,307	10,958	5,966
Mortgage and consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			23
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			4,998
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			2,364
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			444
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			818
Prior, charge-offs			700
Revolving Loans Amortized Cost Basis, gross charge-offs			2,003
Total			11,350
Mortgage and consumer loans \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	167,385		167,385		303,714
Term loans amortized by cost basis, in one year prior to current fiscal year	253,398		253,398		138,526
Term loans amortized by cost basis, in two years prior to current fiscal year	112,813		112,813		48,272
Term loans amortized by cost basis, in three years prior to current fiscal year	41,233		41,233		48,181
Term loans amortized by cost basis, in four years prior to current fiscal year	37,213		37,213		29,134
Prior	570,488		570,488		588,586
Revolving Loans Amortized Cost Basis	52,147		52,147		55,999
Total Loans	1,234,677		1,234,677		1,212,412
Auto loans and leases
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,127,395		2,127,395		1,963,915
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			94
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			7,666
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			5,245
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			2,039
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			1,795
Prior, charge-offs			1,809
Total			18,648
Auto loans and leases \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	402,801		402,801		733,760
Term loans amortized by cost basis, in one year prior to current fiscal year	709,556		709,556		479,581
Term loans amortized by cost basis, in two years prior to current fiscal year	421,268		421,268		263,060
Term loans amortized by cost basis, in three years prior to current fiscal year	224,578		224,578		230,492
Term loans amortized by cost basis, in four years prior to current fiscal year	189,303		189,303		157,044
Prior	176,570		176,570		94,320
Total Loans	2,124,076		2,124,076		1,958,257
Total	9,169	$ 6,428	18,648	$ 14,318
Auto loans and leases \| 1-660 \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	79,226		79,226		178,426
Term loans amortized by cost basis, in one year prior to current fiscal year	202,606		202,606		143,926
Term loans amortized by cost basis, in two years prior to current fiscal year	133,141		133,141		72,148
Term loans amortized by cost basis, in three years prior to current fiscal year	65,096		65,096		58,069
Term loans amortized by cost basis, in four years prior to current fiscal year	48,918		48,918		44,156
Prior	55,603		55,603		31,980
Total Loans	584,590		584,590		528,705
Auto loans and leases \| 661-699 \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	86,433		86,433		171,723
Term loans amortized by cost basis, in one year prior to current fiscal year	145,405		145,405		93,359
Term loans amortized by cost basis, in two years prior to current fiscal year	72,453		72,453		42,388
Term loans amortized by cost basis, in three years prior to current fiscal year	32,591		32,591		31,033
Term loans amortized by cost basis, in four years prior to current fiscal year	24,416		24,416		21,283
Prior	23,826		23,826		13,518
Total Loans	385,124		385,124		373,304
Auto loans and leases \| 700+ \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	234,111		234,111		375,845
Term loans amortized by cost basis, in one year prior to current fiscal year	354,101		354,101		235,743
Term loans amortized by cost basis, in two years prior to current fiscal year	210,260		210,260		144,783
Term loans amortized by cost basis, in three years prior to current fiscal year	123,846		123,846		135,517
Term loans amortized by cost basis, in four years prior to current fiscal year	111,118		111,118		88,597
Prior	94,364		94,364		47,499
Total Loans	1,127,800		1,127,800		1,027,984
Auto loans and leases \| No FICO \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	3,031		3,031		7,766
Term loans amortized by cost basis, in one year prior to current fiscal year	7,444		7,444		6,553
Term loans amortized by cost basis, in two years prior to current fiscal year	5,414		5,414		3,741
Term loans amortized by cost basis, in three years prior to current fiscal year	3,045		3,045		5,873
Term loans amortized by cost basis, in four years prior to current fiscal year	4,851		4,851		3,008
Prior	2,777		2,777		1,323
Total Loans	26,562		26,562		28,264
Commercial secured by real estate: \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,111,896		1,111,896		1,112,880
Commercial secured by real estate: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	40,469		40,469		222,037
Term loans amortized by cost basis, in one year prior to current fiscal year	224,217		224,217		186,185
Term loans amortized by cost basis, in two years prior to current fiscal year	182,779		182,779		117,161
Term loans amortized by cost basis, in three years prior to current fiscal year	142,188		142,188		135,927
Term loans amortized by cost basis, in four years prior to current fiscal year	118,246		118,246		53,022
Prior	217,078		217,078		188,392
Revolving Loans Amortized Cost Basis	55,593		55,593		71,478
Total Loans	980,570		980,570		974,202
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			80
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			94
Prior, charge-offs			67
Revolving Loans Amortized Cost Basis, gross charge-offs			0
Total			241
Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	153,025		153,025		123,774
Term loans amortized by cost basis, in one year prior to current fiscal year	108,992		108,992		198,836
Term loans amortized by cost basis, in two years prior to current fiscal year	122,762		122,762		67,438
Term loans amortized by cost basis, in three years prior to current fiscal year	61,957		61,957		36,804
Term loans amortized by cost basis, in four years prior to current fiscal year	31,390		31,390		15,906
Prior	17,562		17,562		7,958
Revolving Loans Amortized Cost Basis	475,920		475,920		403,726
Total Loans	971,608		971,608		854,442
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			18
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			458
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0
Prior, charge-offs			1,180
Revolving Loans Amortized Cost Basis, gross charge-offs			0
Total			1,656
US commercial loans: \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	669,332		669,332		642,133
US commercial loans: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	74,400		74,400		90,864
Term loans amortized by cost basis, in one year prior to current fiscal year	78,847		78,847		92,688
Term loans amortized by cost basis, in two years prior to current fiscal year	85,047		85,047		52,055
Term loans amortized by cost basis, in three years prior to current fiscal year	46,822		46,822		33,827
Term loans amortized by cost basis, in four years prior to current fiscal year	31,545		31,545		53,805
Prior	35,705		35,705		0
Revolving Loans Amortized Cost Basis	316,966		316,966		318,894
Total Loans	669,332		669,332		642,133
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			33
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			1,156
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0
Prior, charge-offs			1,785
Revolving Loans Amortized Cost Basis, gross charge-offs			0
Total			2,974
Personal loans \| Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			23
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			4,998
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			2,364
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			444
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			818
Prior, charge-offs			308
Revolving Loans Amortized Cost Basis, gross charge-offs			0
Total			8,955
Personal loans \| Consumer \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	161,389		161,389		285,014
Term loans amortized by cost basis, in one year prior to current fiscal year	233,500		233,500		113,252
Term loans amortized by cost basis, in two years prior to current fiscal year	87,933		87,933		31,987
Term loans amortized by cost basis, in three years prior to current fiscal year	24,942		24,942		32,150
Term loans amortized by cost basis, in four years prior to current fiscal year	22,285		22,285		12,103
Prior	10,926		10,926		6,114
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	540,975		540,975		480,620
Personal loans \| Consumer \| Performing \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	161,223		161,223		284,183
Term loans amortized by cost basis, in one year prior to current fiscal year	232,481		232,481		112,591
Term loans amortized by cost basis, in two years prior to current fiscal year	87,578		87,578		31,876
Term loans amortized by cost basis, in three years prior to current fiscal year	24,773		24,773		31,850
Term loans amortized by cost basis, in four years prior to current fiscal year	22,131		22,131		12,022
Prior	10,557		10,557		5,768
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	538,743		538,743		478,290
Personal loans \| Consumer \| Nonperforming \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	166		166		831
Term loans amortized by cost basis, in one year prior to current fiscal year	1,019		1,019		661
Term loans amortized by cost basis, in two years prior to current fiscal year	355		355		111
Term loans amortized by cost basis, in three years prior to current fiscal year	169		169		300
Term loans amortized by cost basis, in four years prior to current fiscal year	154		154		81
Prior	369		369		346
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	2,232		2,232		2,330
Credit lines \| Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	11,586		11,586		13,126
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0
Prior, charge-offs			0
Revolving Loans Amortized Cost Basis, gross charge-offs			214
Total			214
Credit lines \| Consumer \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	11,312		11,312		12,826
Total Loans	11,312		11,312		12,826
Credit lines \| Consumer \| Performing \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	11,249		11,249		12,710
Total Loans	11,249		11,249		12,710
Credit lines \| Consumer \| Nonperforming \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	63		63		116
Total Loans	63		63		116
Credit cards \| Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	40,561		40,561		42,872
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0
Prior, charge-offs			0
Revolving Loans Amortized Cost Basis, gross charge-offs			1,486
Total			1,486
Credit cards \| Consumer \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	40,561		40,561		42,872
Total Loans	40,561		40,561		42,872
Credit cards \| Consumer \| Performing \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	39,949		39,949		42,189
Total Loans	39,949		39,949		42,189
Credit cards \| Consumer \| Nonperforming \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	612		612		683
Total Loans	612		612		683
Overdraft \| Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	274		274		301
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0
Prior, charge-offs			0
Revolving Loans Amortized Cost Basis, gross charge-offs			303
Total			303
Overdraft \| Consumer \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	274		274		301
Total Loans	274		274		301
Overdraft \| Consumer \| Performing \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	274		274		301
Total Loans	274		274		301
Overdraft \| Consumer \| Nonperforming \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Pass \| Commercial secured by real estate: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	40,469		40,469		220,035
Term loans amortized by cost basis, in one year prior to current fiscal year	221,969		221,969		177,775
Term loans amortized by cost basis, in two years prior to current fiscal year	174,336		174,336		110,809
Term loans amortized by cost basis, in three years prior to current fiscal year	123,684		123,684		118,518
Term loans amortized by cost basis, in four years prior to current fiscal year	99,681		99,681		50,454
Prior	192,049		192,049		159,721
Revolving Loans Amortized Cost Basis	54,543		54,543		69,523
Total Loans	906,731		906,731		906,835
Pass \| Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	153,016		153,016		123,659
Term loans amortized by cost basis, in one year prior to current fiscal year	107,027		107,027		198,776
Term loans amortized by cost basis, in two years prior to current fiscal year	122,761		122,761		67,147
Term loans amortized by cost basis, in three years prior to current fiscal year	55,849		55,849		35,678
Term loans amortized by cost basis, in four years prior to current fiscal year	30,431		30,431		13,807
Prior	17,332		17,332		7,863
Revolving Loans Amortized Cost Basis	475,103		475,103		397,944
Total Loans	961,519		961,519		844,874
Pass \| US commercial loans: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	74,370		74,370		81,155
Term loans amortized by cost basis, in one year prior to current fiscal year	60,598		60,598		92,688
Term loans amortized by cost basis, in two years prior to current fiscal year	85,047		85,047		43,965
Term loans amortized by cost basis, in three years prior to current fiscal year	45,864		45,864		33,827
Term loans amortized by cost basis, in four years prior to current fiscal year	31,545		31,545		49,356
Prior	17,685		17,685		0
Revolving Loans Amortized Cost Basis	306,777		306,777		308,183
Total Loans	621,886		621,886		609,174
Special Mention \| Commercial secured by real estate: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		1,899
Term loans amortized by cost basis, in one year prior to current fiscal year	1,837		1,837		0
Term loans amortized by cost basis, in two years prior to current fiscal year	6,729		6,729		6,007
Term loans amortized by cost basis, in three years prior to current fiscal year	17,860		17,860		17,004
Term loans amortized by cost basis, in four years prior to current fiscal year	15,827		15,827		2,095
Prior	10,903		10,903		13,934
Revolving Loans Amortized Cost Basis	192		192		439
Total Loans	53,348		53,348		41,378
Special Mention \| Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	9		9		3
Term loans amortized by cost basis, in one year prior to current fiscal year	1,841		1,841		60
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		31
Term loans amortized by cost basis, in three years prior to current fiscal year	5,852		5,852		654
Term loans amortized by cost basis, in four years prior to current fiscal year	628		628		1,819
Prior	17		17		21
Revolving Loans Amortized Cost Basis	22		22		3,823
Total Loans	8,369		8,369		6,411
Special Mention \| US commercial loans: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		6,346
Term loans amortized by cost basis, in one year prior to current fiscal year	7,854		7,854		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		1,122
Total Loans	7,854		7,854		7,468
Substandard \| Commercial secured by real estate: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		103
Term loans amortized by cost basis, in one year prior to current fiscal year	411		411		8,410
Term loans amortized by cost basis, in two years prior to current fiscal year	1,714		1,714		345
Term loans amortized by cost basis, in three years prior to current fiscal year	644		644		405
Term loans amortized by cost basis, in four years prior to current fiscal year	2,738		2,738		473
Prior	14,111		14,111		14,722
Revolving Loans Amortized Cost Basis	527		527		1,185
Total Loans	20,145		20,145		25,643
Substandard \| Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		112
Term loans amortized by cost basis, in one year prior to current fiscal year	124		124		0
Term loans amortized by cost basis, in two years prior to current fiscal year	1		1		260
Term loans amortized by cost basis, in three years prior to current fiscal year	256		256		472
Term loans amortized by cost basis, in four years prior to current fiscal year	331		331		280
Prior	213		213		74
Revolving Loans Amortized Cost Basis	756		756		1,920
Total Loans	1,681		1,681		3,118
Substandard \| US commercial loans: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	30		30		3,363
Term loans amortized by cost basis, in one year prior to current fiscal year	10,395		10,395		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		8,090
Term loans amortized by cost basis, in three years prior to current fiscal year	958		958		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		4,449
Prior	18,020		18,020		0
Revolving Loans Amortized Cost Basis	10,189		10,189		9,589
Total Loans	39,592		39,592		25,491
Doubtful \| Commercial secured by real estate: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	15		15		15
Revolving Loans Amortized Cost Basis	331		331		331
Total Loans	346		346		346
Doubtful \| Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	39		39		39
Total Loans	39		39		39
Doubtful \| US commercial loans: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Loss \| Commercial secured by real estate: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Loss \| Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Loss \| US commercial loans: \| Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	$ 0		$ 0		$ 0

ALLOWANCE FOR CREDIT LOSSES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Decrease in allowance for credit losses			$ (7,300)
Provision for (recapture of) credit losses	$ 15,044	$ 6,691	24,489	$ 8,242
Net charge-off			(16,700)
Increase (decrease) in net charge-offs			11,600
Improved Macroeconomic Conditions
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for (recapture of) credit losses			(1,000)
Changes in Economic and Loss Rate Models and Miscellaneous Reserves
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for (recapture of) credit losses			(3,100)
Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for (recapture of) credit losses			13,500
Increase (decrease) in net charge-offs			6,000
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs			3,800
Mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs			2,100
Auto loans and leases
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs			(392)
Financing Receivable, Loan Growth Member
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for (recapture of) credit losses			$ 12,500

ALLOWANCE FOR CREDIT LOSSES (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period			$ 152,673
Balance at end of period	$ 159,923	$ 159,039	159,923	$ 159,039
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(4,871)
Balance at end of period	50,012	44,441	50,012	44,441
Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(392)
Balance at end of period	16,967	24,447	16,967	24,447
Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(10,958)
Balance at end of period	25,674	23,129	25,674	23,129
Auto loans and leases
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(18,648)
Balance at end of period	67,270	67,022	67,270	67,022
Non-PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	141,385	137,344	141,841	132,065
Provision for (recapture of) credit losses	16,250	12,302	24,282	20,865
Charge-offs	(18,374)	(12,901)	(34,869)	(23,997)
Recoveries	10,906	7,151	18,913	14,963
Balance at end of period	150,167	143,896	150,167	143,896
Non-PCD \| Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	37,774	37,097	39,158	32,262
Provision for (recapture of) credit losses	14,089	7,368	13,754	12,555
Charge-offs	(3,496)	(2,907)	(4,871)	(3,451)
Recoveries	237	456	563	648
Balance at end of period	48,604	42,014	48,604	42,014
Non-PCD \| Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	9,083	14,952	9,571	15,299
Provision for (recapture of) credit losses	(556)	(3,122)	(1,059)	(5,540)
Charge-offs	(191)	(259)	(392)	(262)
Recoveries	334	335	550	2,409
Balance at end of period	8,670	11,906	8,670	11,906
Non-PCD \| Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	24,664	21,100	23,264	19,141
Provision for (recapture of) credit losses	4,517	4,521	10,491	8,484
Charge-offs	(5,518)	(3,307)	(10,958)	(5,966)
Recoveries	2,003	795	2,869	1,450
Balance at end of period	25,666	23,109	25,666	23,109
Non-PCD \| Auto loans and leases
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	69,864	64,195	69,848	65,363
Provision for (recapture of) credit losses	(1,800)	3,535	1,096	5,366
Charge-offs	(9,169)	(6,428)	(18,648)	(14,318)
Recoveries	8,332	5,565	14,931	10,456
Balance at end of period	67,227	66,867	67,227	66,867
PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	10,499	19,731	10,832	23,872
Provision for (recapture of) credit losses	(1,606)	(5,795)	(307)	(12,643)
Charge-offs	(159)	(266)	(2,638)	(1,587)
Recoveries	1,022	1,473	1,869	5,501
Balance at end of period	9,756	15,143	9,756	15,143
PCD \| Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	1,693	3,622	1,388	4,508
Provision for (recapture of) credit losses	(604)	(1,444)	1,316	(5,319)
Charge-offs	0	0	(2,104)	(34)
Recoveries	319	249	808	3,272
Balance at end of period	1,408	2,427	1,408	2,427
PCD \| Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	8,717	15,881	9,359	19,018
Provision for (recapture of) credit losses	(679)	(4,183)	(1,493)	(7,031)
Charge-offs	(1)	(183)	(76)	(1,317)
Recoveries	260	1,026	507	1,871
Balance at end of period	8,297	12,541	8,297	12,541
PCD \| Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	12	31	14	34
Provision for (recapture of) credit losses	78	(16)	278	(3)
Charge-offs	(124)	(8)	(337)	(47)
Recoveries	42	13	53	36
Balance at end of period	8	20	8	20
PCD \| Auto loans and leases
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	77	197	71	312
Provision for (recapture of) credit losses	(401)	(152)	(408)	(290)
Charge-offs	(34)	(75)	(121)	(189)
Recoveries	401	185	501	322
Balance at end of period	$ 43	$ 155	$ 43	$ 155

FORECLOSED REAL ESTATE (Foreclosed Real Estate Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Real Estate Owned Activity [Roll Forward]
Foreclosed real estate beginning balance			$ 11,214	$ 15,039
Additions			4,634	5,729
Sales			(6,653)	(7,947)
Decline in value			(400)	(414)
Other adjustments			1,844	2,654
Foreclosed real estate ending balance	$ 10,639	$ 15,061	10,639	15,061
Originated Loans
Other Real Estate Owned Activity [Roll Forward]
Foreclosed real estate beginning balance	9,250	15,297
Additions	3,196	2,549
Sales	(3,072)	(4,140)
Decline in value	(272)	(219)
Other adjustments	1,537	1,574
Foreclosed real estate ending balance	$ 10,639	$ 15,061	$ 10,639	$ 15,061

SERVICING ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Servicing Assets at Fair Value [Line Items]
Fair value of servicing asset	$ 49,966	$ 49,280	$ 49,966	$ 49,280	$ 49,345	$ 50,921	$ 49,446	$ 48,973
Servicing fees on mortgage loans	702	669	1,584	1,806
Conventional Mortgage Loan
Servicing Assets at Fair Value [Line Items]
Servicing fees on mortgage loans	$ 4,800	$ 5,200	$ 9,800	$ 10,200

SERVICING ASSETS (Changes in Serving Rights at Fair Value) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at beginning of period	$ 49,345	$ 49,446	$ 50,921	$ 48,973
Servicing from mortgage securitization or asset transfers	791	1,150	1,365	2,269
Changes due to payments on loans	(1,085)	(1,478)	(2,150)	(2,977)
Changes in fair value due to changes in valuation model inputs or assumptions	915	162	(170)	1,015
Fair value at end of period	$ 49,966	$ 49,280	$ 49,966	$ 49,280

SERVICING ASSETS (Key Economic Assumptions) (Details)	6 Months Ended
SERVICING ASSETS (Key Economic Assumptions) (Details)	Jun. 30, 2023	Jun. 30, 2022
Minimum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	3.49%	3.60%
Discount rate	10.00%	10.00%
Maximum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	21.68%	22.71%
Discount rate	15.50%	15.50%

SERVICING ASSETS (Sensitivity of Current Fair Value of Servicing Assets) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Transfers and Servicing [Abstract]
Carrying value of mortgage servicing asset		$ 49,966	$ 50,921
Weighted average life (in years)	7 years 9 months 18 days	7 years 7 months 6 days
Constant prepayment rate - Decrease in fair value due to 10% adverse change		$ (947)	(956)
Constant prepayment rate - Decrease in fair value due to 20% adverse change		(1,862)	(1,880)
Discount rate - Decrease in fair value due to 10% adverse change		(2,177)	(2,265)
Discount rate - Decrease in fair value due to 20% adverse change		$ (4,190)	$ (4,356)

DERIVATIVES (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional amount of derivative contracts outstanding	$ 25,600	$ 26,600
Derivative assets	120	406
Derivative liabilities	$ 0	$ 0

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule Of Goodwill) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 84,241	$ 84,241
Banking
Finite-Lived Intangible Assets [Line Items]
Goodwill	84,063	84,063
Wealth Management
Finite-Lived Intangible Assets [Line Items]
Goodwill	178	178
Treasury
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 0	$ 0

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	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
Impairment of goodwill					$ 0
Amortization of intangible assets	$ 1,700	$ 2,200	$ 3,450	$ 4,293

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Core Deposit, Customer Relationship and Other Intangibles) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 54,200	$ 54,200
Accumulated Amortization	30,057	26,607
Net Carrying Value	24,143	27,593
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	41,507	41,507
Accumulated Amortization	23,018	20,376
Net Carrying Value	18,489	21,131
Customer relationship intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,693	12,693
Accumulated Amortization	7,039	6,231
Net Carrying Value	$ 5,654	$ 6,462

GOODWILL AND OTHER INTANGIBLE ASSETS (Estimated Amortization of Other Intangible Assets) (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 6,898
2024	5,913
2025	4,927
2026	3,942
2027	2,956
Thereafter	$ 2,957

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Schedule of Accrued Interest Receivable) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 63,357	$ 62,402
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	58,638	58,144
Investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 4,719	$ 4,258

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other assets [Line Items]
Prepaid expenses	$ 68,346	$ 54,875
Prepaid municipal, property, and income taxes	59,800	47,200
Other repossessed assets	4,004	4,617
COVID-19 and Hurricane Fiona Deferral Program Loans
Other assets [Line Items]
Accrued interest receivable	20,600	21,800
COVID-19 and Hurricane Fiona Deferral Program Loans \| Accrued Income Receivable
Other assets [Line Items]
Allowance for credit losses	136	144
COVID-19 and Hurricane Fiona Deferral Program Loans \| Current
Other assets [Line Items]
Accrued interest receivable	$ 19,600	$ 20,700

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accrued Interest Receivable and Other Assets [Abstract]
Prepaid expenses	$ 68,346	$ 54,875
Other repossessed assets	4,004	4,617
Accounts receivable and other assets	54,160	61,420
Other assets	$ 126,510	$ 120,912

DEPOSITS AND RELATED INTEREST (Deposits by Components) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Deposits and Related Interest [Abstract]
Non-interest-bearing demand deposits	$ 2,559,576	$ 2,630,458
Interest-bearing savings and demand deposits	4,671,271	4,774,265
Retail certificates of deposit	1,064,766	979,545
Institutional certificates of deposit	242,413	172,725
Total core deposits	8,538,026	8,556,993
Brokered deposits	0	11,371
Total deposits	$ 8,538,026	$ 8,568,364

DEPOSITS AND RELATED INTEREST (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Deposits and Related Interest [Line Items]
Uninsured deposits	$ 3,655,000	$ 3,498,000
Weighted average interest rate of deposits	0.61%	0.41%
Time deposits in denominations in excess of $250,000	$ 568,800	$ 384,400
Deposits	8,538,026	8,568,364
Public funds collateral investments	394,500	367,300
Accrued interest on time deposits	981	682
Overdrafts in demand deposit accounts	542	495
Government \| Puerto Rico
Deposits and Related Interest [Line Items]
Deposits	$ 361,000	$ 284,200

DEPOSITS AND RELATED INTEREST (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Deposits and Related Interest [Abstract]
Demand and savings deposits	$ 10,423	$ 5,101	$ 19,092	$ 10,077
Certificates of deposit	5,493	1,843	9,321	3,908
Total	$ 15,916	$ 6,944	$ 28,413	$ 13,985

DEPOSITS AND RELATED INTEREST (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Year-end amount, Within One Year
Three months or less	$ 187,529	$ 238,776
Over 3 months through 6 months	156,305	152,940
Over 6 months through 1 year	317,407	262,976
Within one year	661,241	654,692
Year-end amount, after one year:
Over 1 through 2 years	436,645	279,034
Over 2 through 3 years	126,491	136,732
Over 3 through 4 years	33,355	51,505
Over 4 through 5 years	47,128	39,888
Over 5 years	1,338	1,108
Certificates of deposit	1,306,198	1,162,959
Uninsured amount, within one year:
Three months or less	15,557	29,503
Over 3 months through 6 months	48,541	18,238
Over 6 months through 1 year	83,665	59,093
Within one year	147,763	106,834
Uninsured amount, after one year:
Over 1 through 2 years	181,660	64,109
Over 2 through 3 years	17,268	26,481
Over 3 through 4 years	3,839	8,276
Over 4 through 5 years	2,286	2,230
Over 5 years	0	0
Uninsured amount	$ 352,816	$ 207,930

BORROWINGS AND RELATED INTEREST (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Additional borrowing capacity	$ 431,000	$ 628,100
Weighted average period remaining maturity of FHLB advances	1 year 8 months 12 days	3 days
Advances from the Federal Home Loan Bank \| Federal Loan Home Bank Advances Short Term Period
Debt Instrument [Line Items]
Original debt instrument term of FHLB advances	1 month
Asset Pledged as Collateral \| Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Total Loans	$ 937,900	$ 951,100
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Minimum amount of qualifying collateral	110.00%
Accrued interest payable	$ 861	$ 103
Advances from the Federal Home Loan Bank \| Long-Term Fixed-Rate Advances from FHLB
Debt Instrument [Line Items]
Original debt instrument term of FHLB advances	2 years

BORROWINGS AND RELATED INTEREST (Schedule of Federal Home Loan Bank Advances And Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 226,507	$ 26,716
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 225,646	26,613
Weighted average interest rate of FHLB advances	4.52%
Long-Term Fixed-Rate Advances from FHLB \| Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 200,000	0
Over one to three years \| Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 200,000	$ 0
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Weighted average interest rate of FHLB advances	5.54%	4.46%
Advances from the Federal Home Loan Bank \| Federal Loan Home Bank Advances Short Term Period
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 25,646	$ 26,613
Advances from the Federal Home Loan Bank \| Under 90 days
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 25,646	$ 26,613

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Statutory tax rate (as a percent)			37.50%
Valuation allowance	$ 8,400		$ 8,400		$ 9,100
Deferred tax asset, net	20,300		20,300		55,500
Increase (decrease) in valuation allowance			$ (695)
Effective tax rate (as a percent)			30.90%	31.30%
Expected effective tax rate for 2023			31.40%
Unrecognized tax benefits	901		$ 901		$ 867
Income tax expense (benefit)	$ 21,612	$ 18,923	$ 40,516	$ 35,496

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

REGULATORY CAPITAL REQUIREMENTS (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
OFG Bancorp
Amount
Actual - Total capital to risk-weighted assets	$ 1,183,793	$ 1,132,658
Actual - Tier 1 capital to risk-weighted assets	1,086,587	1,037,385
Actual - Common equity tier 1 capital to risk-weighted assets	1,086,587	1,037,385
Actual - Tier 1 capital to average total assets	1,086,587	1,037,385
Minimum Capital Requirement - Total capital to risk-weighted assets	813,008	798,574
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	658,149	646,465
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	542,005	532,383
Minimum Capital Requirement - Tier 1 capital to average total assets	400,453	400,445
Minimum to be Well Capitalized - Total capital to risk-weighted assets	774,293	760,547
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	619,435	608,437
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	503,291	494,355
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 500,566	$ 500,557
Ratio
Actual - total capital to risk-weighted assets	0.1529	0.1489
Actual - Tier 1 capital to risk-weighted assets	0.1403	0.1364
Actual - Common equity tier 1 capital to risk-weighted assets	0.1403	0.1364
Actual - Tier 1 capital to average total assets	0.1085	0.1036
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	$ 1,094,407	$ 1,028,126
Actual - Tier 1 capital to risk-weighted assets	997,781	933,494
Actual - Common equity tier 1 capital to risk-weighted assets	997,781	933,494
Actual - Tier 1 capital to average total assets	997,781	933,494
Minimum Capital Requirement - Total capital to risk-weighted assets	808,074	793,124
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	654,155	642,053
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	538,716	528,749
Minimum Capital Requirement - Tier 1 capital to average total assets	396,512	396,525
Minimum to be Well Capitalized - Total capital to risk-weighted assets	769,594	755,356
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	615,676	604,285
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	500,236	490,981
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 495,640	$ 495,656
Ratio
Actual - total capital to risk-weighted assets	0.1422	0.1361
Actual - Tier 1 capital to risk-weighted assets	0.1297	0.1236
Actual - Common equity tier 1 capital to risk-weighted assets	0.1297	0.1236
Actual - Tier 1 capital to average total assets	0.1007	0.0942
Minimum Capital Requirement - Total capital to risk-weighted assets	0.1050	0.1050
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	0.0850	0.0850
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	0.0700	0.0700
Minimum Capital Requirement - Tier 1 capital to average total assets	0.0400	0.0400
Minimum to be Well Capitalized - Total capital to risk-weighted assets	0.1000	0.1000
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	0.0800	0.0800
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	0.0650	0.0650
Minimum to be Well Capitalized - Tier 1 capital to average total assets	0.0500	0.0500

STOCKHOLDERS’ EQUITY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jan. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Common stock	$ 59,885		$ 59,885
Legal surplus	142,600		133,900
Transfer to legal surplus	8,700
Stock repurchase program, authorized amount	$ 100,000			$ 100,000
Shares repurchased during period (in shares)	670,099	2,351,868
Shares purchased (in shares)	0	0
Common shares repurchased	$ 16,467	$ 64,110
Share repurchased, average price per share (in dollars per share)	$ 24.57	$ 27.04
Stock repurchase program, remaining number of shares authorized to be repurchased (in shares)	744,745
Stock repurchase program, remaining authorized repurchase amount	$ 19,400
Share price (in dollars per share)	$ 26.08
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 of Common Shares Held in Treasury) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Shares
Beginning of period (in shares)	12,303,859	10,248,882
Common shares used upon lapse of restricted stock units and options (in shares)	(164,911)	(269,239)
Common shares repurchased as part of the stock repurchase programs (in shares)	670,099	2,351,868
End of period (in shares)	12,809,047	12,331,511
Dollar Amount
Beginning of period	$ 211,135	$ 150,572
Common shares used upon lapse of restricted stock units and options	(1,372)	(3,544)
Common shares repurchased as part of the stock repurchase programs	16,467	64,110
End of period	$ 226,230	$ 211,138

ACCUMULATED OTHER COMPREHENSIVE LOSS (Accumulated Comprehensive Income, Net of Income Tax) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gain on cash flow hedges	$ (155)	$ 350	$ (286)	$ 969
Accumulated other comprehensive loss, net of income taxes	(89,564)		(89,564)		$ (93,409)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of income taxes	(89,564)		(89,564)		(93,409)
Net unrealized gain (loss) on securities available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss on securities available-for-sale			(105,304)		(110,036)
Income tax effect of unrealized loss on securities available-for-sale			15,665		16,373
Net unrealized loss on securities available-for-sale	$ (89,639)		(89,639)		(93,663)
Net unrealized gain (loss) on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gain on cash flow hedges			120		406
Income tax effect of unrealized gain on cash flow hedges			(45)		(152)
Net unrealized gain on cash flow hedges			$ 75		$ 254

ACCUMULATED OTHER COMPREHENSIVE LOSS (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of year			$ 1,042,406
Other comprehensive loss before reclassifications	$ (12,505)	$ (29,050)	1,971	$ (55,043)
Other comprehensive loss	(11,224)	(28,864)	3,845	(54,662)
Amounts reclassified out of accumulated other comprehensive income (loss)	1,281	186	1,874	381
Balance at end of year	1,099,751	1,014,812	1,099,751	1,014,812
Net unrealized gain (loss) on securities available-for-sale
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of year	(78,512)	(20,522)	(93,663)	5,663
Other comprehensive loss before reclassifications	(9,980)	(29,086)	5,169	(55,273)
Other comprehensive loss	(11,127)	(29,084)	4,024	(55,269)
Amounts reclassified out of accumulated other comprehensive income (loss)	(1,147)	2	(1,145)	4
Balance at end of year	(89,639)	(49,606)	(89,639)	(49,606)
Net unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of year	172	(116)	254	(503)
Other comprehensive loss before reclassifications	(2,525)	36	(3,198)	230
Other comprehensive loss	(97)	220	(179)	607
Amounts reclassified out of accumulated other comprehensive income (loss)	2,428	184	3,019	377
Balance at end of year	75	104	75	104
Accumulated other comprehensive loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of year	(78,340)	(20,638)	(93,409)	5,160
Balance at end of year	$ (89,564)	$ (49,502)	$ (89,564)	$ (49,502)

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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ACCUMULATED OTHER COMPREHENSIVE LOSS (Reclassifications Out of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net interest expense	$ 18,344	$ 7,128	$ 31,432	$ 14,883
Income tax expense	21,612	18,923	40,516	35,496
Net income	44,173	40,432	90,402	77,953
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss on sale of investments			(1,149)	0
Net income	1,281	186	1,874	381
Reclassification out of Accumulated Other Comprehensive Income \| Net unrealized gain (loss) on securities available-for-sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	2	2	4	4
Reclassification out of Accumulated Other Comprehensive Income \| Interest Rate Contract \| Net unrealized gain (loss) on cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net interest expense	$ 2,428	$ 184	$ 3,019	$ 377

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Amount of the cost of borrowed funds accounted for as interest expense.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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EARNINGS PER COMMON SHARE (Schedule of Earnings Per Share Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Income available to common shareholders	$ 44,173	$ 40,432	$ 90,402	$ 77,953
Average common shares outstanding (in shares)	47,266	48,053	47,432	48,508
Average potential common shares-options (in shares)	224	336	284	425
Total weighted average common shares outstanding and equivalents (in shares)	47,490	48,389	47,716	48,933
Earnings per common share - basic (in dollars per share)	$ 0.93	$ 0.84	$ 1.91	$ 1.61
Earnings per common share - diluted (in dollars per share)	$ 0.93	$ 0.84	$ 1.89	$ 1.59

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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