OFG Bancorp Q4 2021 Earnings Report

Reported strong results impacted by the strategic decision to sell past due loans, but core business demonstrated strong momentum.

Key Takeaways

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.

EPS diluted was $0.66 compared to $0.81 in 3Q21 and $0.42 in 4Q20.

Total core revenues were $141.0 million compared to $134.7 million in 3Q21 and $132.8 million in 4Q20.

Net Interest Income of $104.2 million compared to $102.7 million in 3Q21 and $98.7 million in 4Q20.

New Loan Origination totaled $632.7 million compared to $556.2 million in 3Q21 and $485.3 million in 4Q20.

Total Revenue

$104M

Previous year: $98.7M