OFG Bancorp Earnings Reports

OFG Bancorp reported diluted EPS of $1.00 and total core revenues of $178.3 million for Q1 2025. The company saw growth in customer deposits and loans, improved consumer credit, and repurchased $23.4 million in common shares.

OFG Bancorp reported a strong fourth quarter and fiscal year, with EPS diluted increasing 11.2% year-over-year in 4Q24 and 10.4% year-over-year for the full year. Total core revenues also saw increases, driven by the company's Digital First strategy and lower taxes. The company bought back 1.8 million shares in 2024.

OFG Bancorp reported a solid third quarter with EPS diluted up 5.3% year-over-year and a 1.1% increase in total core revenues. The company continues to see digital adoption of its products and services grow.

OFG Bancorp reported a strong second quarter with a 16.1% year-over-year increase in EPS and a 5.2% increase in total core revenues. The company saw growth in loans, deposits, and non-interest income, along with stable credit quality.

OFG Bancorp reported a solid first quarter with EPS diluted increasing 9.4% year-over-year and total core revenues increasing by 5.9%. The company's digital first strategy drove customer acquisition and engagement, and its balance sheet is well-positioned for a higher for longer interest rate environment.

OFG Bancorp reported a strong fourth quarter and year-end results for 2023, with diluted EPS of $0.98 for 4Q23, compared to $0.97 in 4Q22. Total core revenues for 4Q23 were $175.6 million, compared to $168.3 million in 4Q22. The company ended the year with record levels of loans, customer deposits, assets, and stockholders’ equity.

OFG Bancorp reported strong Q3 2023 results, with a 10% year-over-year increase in core revenues and a 9% increase in EPS. The company benefited from loan growth, stable core deposits, and higher interest rates. Digital initiatives and team member commitment were highlighted as key contributors.

OFG Bancorp reported a strong Q2 2023, marked by a 16.5% year-over-year increase in total core revenues and a 10.7% increase in earnings per share. The quarter benefited from strong loan production, stable core deposits, and increased operating leverage.

OFG Bancorp reported a strong first quarter with high levels of liquidity and capital. Deposit balances were stable, and the company continued to execute its 'digital first' strategy. Financial results demonstrated solid core revenues, net interest margin, credit quality, operating leverage, and customer acquisition trends.

OFG Bancorp reported a strong fourth quarter with diluted EPS of $0.97, up from $0.66 in 4Q21. Total core revenues reached $168.3 million, compared to $141.0 million in 4Q21. Key performance metrics improved, including a return on average assets of 1.86%, return on average tangible common stockholders’ equity of 20.36%, and an efficiency ratio of 54.45%.

OFG Bancorp reported a strong third quarter, driven by total core revenue growth and improvements in key performance metrics. The company demonstrated resilience in supporting customers following Hurricane Fiona, with business activity returning to pre-hurricane levels.

OFG Bancorp reported a strong second quarter with EPS of $0.84, driven by growth in loans and deposits, expansion of net interest margin, and rebound in banking and wealth management income. The company also repurchased $30.6 million of shares.

OFG Bancorp reported a strong start to 2022 with solid loan and deposit growth, NIM expansion, and lower provision. Total assets reached $10.2 billion, and the company repurchased $33.5 million of shares as part of its $100 million buyback program.

OFG Bancorp reported EPS diluted of $0.66 compared to $0.42 in 4Q20. Total core revenues were $141.0 million compared to $132.8 million in 4Q20. The results were impacted by the strategic decision to sell $65.5 million of past due loans, which had been partially reserved, but required $9.7 million in additional provision.

OFG Bancorp reported a strong third quarter, with earnings per share of $0.81 and total core revenues of $134.7 million. The company saw growth in new loan origination, customer deposits, and net interest income. Provision for credit losses was a net benefit of $5 million. OFG also executed on its buyback program, acquiring $40.2 million of shares.

OFG Bancorp reported strong second quarter results, driven by economic recovery in Puerto Rico and increased digital utilization. New loan origination increased by 27.7% from the previous quarter, with gains in commercial and auto lending. Asset quality improved, resulting in a net benefit for credit losses. Results were enhanced by reduced cost of funds and deployment of excess capital.

OFG Bancorp reported strong first quarter results driven by new loan generation, deposit growth, reduced cost of funds and release of COVID-related loan reserves. Performance metrics improved, and credit metrics fell.

OFG Bancorp reported strong Q4 2020 results, marked by increased earnings and revenues driven by solid loan production, lower cost of funds, higher non-interest income, and reduced expenses. The company completed the integration of the Scotiabank acquisition and related cost-savings during the quarter.

OFG Bancorp reported a net income of $20.2 million, or $0.39 per share, for the second quarter of 2020. The results reflect the bank's ability to manage challenges related to the Covid-19 pandemic, with loan production exceeding $500 million, including $286 million in PPP loans.