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Dec 31, 2024
OFG Bancorp Q4 2024 Earnings Report
Reported solid performance with strong financial results.
Key Takeaways
OFG Bancorp reported a strong fourth quarter and fiscal year, with EPS diluted increasing 11.2% year-over-year in 4Q24 and 10.4% year-over-year for the full year. Total core revenues also saw increases, driven by the company's Digital First strategy and lower taxes. The company bought back 1.8 million shares in 2024.
EPS diluted of $1.09 compared to $0.98 in 4Q23.
Total core revenues of $181.9 million compared to $175.6 million in 4Q23.
Net interest margin of 5.40%.
Return on average assets of 1.75%.
OFG Bancorp
OFG Bancorp
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.
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