OFG Bancorp Q3 2022 Earnings Report
Key Takeaways
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.
EPS diluted was $0.87, an increase from both the previous quarter and the same quarter last year.
Total core revenues reached $156.8 million, showing growth compared to both 2Q22 and 3Q21.
The regular quarterly cash dividend was increased to $0.20 per common share.
Key performance metrics improved, including return on average assets of 1.65%, return on average tangible common stockholders’ equity of 18.05%, and an efficiency ratio of 55.80%.
OFG Bancorp
OFG Bancorp
Forward Guidance
No specific forward guidance was provided in the report.