Loading...
•
Jun 30, 2023
OFG Bancorp Q2 2023 Earnings Report
Reported a strong second quarter with significant year-over-year revenue and earnings growth.
Key Takeaways
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.
Total core revenues increased by 16.5% year-over-year.
Earnings per share increased by 10.7% year-over-year.
Strong loan production and stable core deposits were observed.
A new self-service portal was launched, leading to increased digital transaction activity and freeing up team members for value-added service.
Forward Guidance
The information included contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements.
Challenges Ahead
- general business and economic conditions, including changes in interest rates
- cybersecurity breaches
- hurricanes, earthquakes, pandemics, and other natural disasters
- competition in the financial services industry
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...