Remember also that we converted the auto portfolio from a subprime, say 64% prime portfolio during three years ago and now it's 84% prime and super-prime portfolio, which is improving the charge of levels, too. So we are seeing charge-off levels stabilizing and improving too. So again, we are positive on the outlook for the retail portfolio side. On the other hand, commercial portfolios are also benefiting from the macroeconomics of Puerto Rico. We continue to see good opportunities in the pipeline, but als ...

Time Savings Demand 6/30/24 ■ Increase ■ Decrease ■ Total 14 OFGBancorp 2Q24 Deposit Balance Evolution: Retail vs. Commercial, Ex-Public Funds ($M) ■ Increase ■ Decrease ■ Total $7,984 12/31/23 $125 $8,028 $20 $7,956 $(48) $(53) Retail 3/31/24 Retail Commercial Commercial 6/30/24 12 Residential Mortgage Loans ($M) $1,669 $1,622 $1,604 $1,563 $1,519 $1,485 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 Portfolio New Loan Origination NPLs (excludes PCD) NCO Rate $20 $19 $17 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 $31 ...

This quarterly report represents an earnings surprise of 11.34%. A quarter ago, it was expected that this financial holding company would post earnings of $0.95 per share when it actually produced earnings of $1.05, delivering a surprise of 10.53%. OFG shares have added about 14.9% since the beginning of the year versus the S&P 500's gain of 17.2%. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does th ...

José Rafael Fernández, Chief Executive Officer, said: "The second quarter continued to demonstrate the strength of our strategies and franchise. EPS-diluted increased 16.1% year-over-year on a 5.2% increase in total core revenues. We generated strong performance metrics through consistent growth; increased loans, deposits, and non-interest income; and stable credit quality. Our 'Digital First' strategy continues to help us expand our retail and business relationships through new and upgraded products, servi ...

OFG Bancorp (OFG) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Individual investors ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number: 001-12647 OFG Bancorp (Exact name of registrant as specified in its charter) Commonwealth of Puerto R ...

Company Participants Conference Call Participants Operator Our speakers are José Rafael Fernández, Chief Executive Officer and Vice Chair of the Board of Directors; Maritza, Chief -- I'm sorry, apologies. Maritza Arizmendi, Chief Financial Officer; and César Ortiz, Chief Risk Officer. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Instructions will be given at that time. Business activity, consumer liquidity and e ...

Core Non-Interest Income ($M) $8.3 $7.1 $8.2 $7.7 $10.0 $8.1 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 22 Income Statement Highlights: 1Q24 vs. 4Q23 | --- | --- | --- | --- | --- | |------------------------------------------------------------------------|-----------------|-----------------|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

OFG Bancorp Reports 1Q24 Results José Rafael Fernández, Chief Executive Officer, said: "First quarter EPS-diluted increased 9.4% year-over-year on a 5.9% increase in total core revenues, reflecting an overall solid performance across all businesses in line with our plans. Our Digital First strategy continues to drive customer acquisition and engagement. Puerto Rico business activity and consumer liquidity looks good. Our balance sheet is well positioned for a higher for longer interest rate environment. Tha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission file number: 001-12647 OFG Bancorp (Exact name of registrant as specified in its charter) Commonwealth of Puerto Rico 66-0538893 ( ...