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Dec 31, 2023
OFG Bancorp Q4 2023 Earnings Report
Reported earnings for the fourth quarter and year ended December 31, 2023.
Key Takeaways
OFG Bancorp reported a strong fourth quarter and year-end results for 2023, with diluted EPS of $0.98 for 4Q23, compared to $0.97 in 4Q22. Total core revenues for 4Q23 were $175.6 million, compared to $168.3 million in 4Q22. The company ended the year with record levels of loans, customer deposits, assets, and stockholders’ equity.
EPS diluted of $0.98 compared to $0.95 in 3Q23 and $0.97 in 4Q22.
Total core revenues of $175.6 million compared to $172.2 million in 3Q23 and $168.3 million in 4Q22.
Net interest margin of 5.62%, return on average assets of 1.76%, return on average tangible common stockholders’ equity of 18.22%, and efficiency ratio of 53.59%.
Loans Held for Investment (EOP) of $7.53 billion compared to $7.26 billion in 3Q23 and $6.84 billion in 4Q22.
Forward Guidance
The information included in this document 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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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