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OFG Bancorp Q1 2025 Earnings Report
OFG Bancorp reported its financial results for the first quarter ended March 31, 2025, showing a solid start to the year with consistent financial performance and operational execution.
Key Takeaways
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.
Diluted EPS was $1.00, compared to $1.09 in 4Q24 and $1.05 in 1Q24.
Total core revenues reached $178.3 million, a decrease from $181.9 million in 4Q24 but an increase from $174.2 million in 1Q24.
Customer deposits increased by $308.4 million from 4Q24 to $9.76 billion.
The CET1 ratio stood at 14.27%, and the Tangible Common Equity ratio was 10.30%.
OFG Bancorp
OFG Bancorp
Forward Guidance
The company's balance sheet provides a strong foundation for volatile or challenging times, with a stable Puerto Rico economy benefiting from public and private investment, despite increased global economic and geopolitical uncertainties.
Positive Outlook
- Puerto Rico's economy remains stable, supported by public and private investment.
- Strong balance sheet provides a solid foundation for future challenges.
- Continued focus on digital transformation with new online and mobile app features.
- Investment in people is building strong customer relationships.
- Increased common dividend by 20%.
Challenges Ahead
- Increased global economic and geopolitical uncertainties are being closely monitored.
- Seasonal declines in Puerto Rico lending were observed.
- Two fewer business days negatively affected interest income.
- Higher average balances of borrowings and brokered deposits partially offset lower core deposit rates.
- Increased electronic banking fee volume and other related costs partially offset general and administrative declines.