Loading...
•
Mar 31, 2023
OFG Bancorp Q1 2023 Earnings Report
Reported solid core revenues, net interest margin, credit quality, operating leverage, and customer acquisition trends.
Key Takeaways
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.
EPS diluted of $0.96 compared to $0.97 in 4Q22 and $0.76 in 1Q22.
Total core revenues of $164.4 million compared to $168.3 million in 4Q22 and $136.4 million in 1Q22.
Net interest margin of 5.89%, return on average assets of 1.87%, return on average tangible common stockholders’ equity of 19.13%, and efficiency ratio of 54.87%.
Deposit balances were stable with a cumulative beta of approximately 10%.
Forward Guidance
With Puerto Rico businesses and consumers remaining in good financial health, we look forward to ongoing progress in 2023.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...