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. In addition to our financial information presented in accordance with GAAP, management uses certain "non-GAAP financial measures" withi ...

FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 254 Muñoz Rivera Avenue 00918 San Juan, Puerto Rico (Zip code) (Address of princ ...

Financial Data and Key Metrics Changes - Earnings per share diluted was $0.93, up 11% year-over-year [8] - Core revenues increased 17% to $170.5 million [8] - Net interest margin was 5.9% [8] - Provision for credit losses totaled $15 million [8] - Non-interest expenses were $89 million, with pre-provision net revenues totaling $80.8 million, up 22% year-over-year [8][17] - Return on average asset was 1.76%, and return on average tangible common equity was 17.67% [19] Business Line Data and Key Metrics Changes - New loan production increased 23% from the first quarter to approximately $692 million [9][21] - Banking and wealth management revenues were $31 million, up $2 million from the first quarter [15] - Average loan balances increased $136 million from the first quarter [20] - Non-interest expenses are expected to average about $90 million to $92 million per quarter for the rest of the year [18] Market Data and Key Metrics Changes - Customer deposits were approximately $8.5 billion [9] - Loans held for investment totaled $7.1 billion, up 3.8% from the first quarter [9] - Retail deposits declined $136 million, while government deposits increased $130 million [22] - Cumulative deposit beta was 16%, expected to reach about 25% through the cycle [23] Company Strategy and Development Direction - The company is focused on a digital-first strategy, showing excellent progress with higher sales service actions and lower branch visits [6][12] - Investments in technology are aimed at improving customer experience and operational efficiency [12][102] - The company aims to maintain a strong loan-to-deposit ratio while managing deposits effectively [40][44] Management's Comments on Operating Environment and Future Outlook - The economy in Puerto Rico continues to show resilience, with retail sales and wages rising [30][31] - Management is optimistic about the strength of Puerto Rico's economy despite potential risks from interest rate changes and inflation [31] - The company anticipates continued strong loan production and stable core deposit balances [32] Other Important Information - The CET1 ratio was 14.0%, and the company bought back about 565,000 shares during the second quarter [10] - The efficiency ratio improved to 52.13%, reflecting increased operating leverage [17] Q&A Session Summary Question: Loan-to-deposit ratio outlook - Management noted high levels of liquidity and capital, indicating a strong position in the current banking environment [36][37] Question: Commercial loan growth and pipeline - Management confirmed a strong pipeline for commercial loans and expressed confidence in replicating first-half performance in the second half [40] Question: Deposit beta guidance - Management indicated that the deposit beta guidance remains at 25%, which is considered conservative given current levels [45] Question: Credit portfolio specifics - Management clarified that specific issues with three U.S. commercial loans do not affect the overall diversified portfolio [48][49] Question: Efficiency ratio guidance - Management expects non-interest expenses to remain stable, with technology investments driving future efficiency [54][55] Question: Auto loan market outlook - Management expressed surprise at the strength of auto loan growth and noted that consumer confidence is driving purchases [56][59] Question: Capital management and buyback activity - Management is focused on loan growth, dividends, and share repurchase programs, with $19 million remaining for buybacks [60][61] Question: Deposit pressure trends - Management observed lower non-interest-bearing deposit balances as consumers deploy liquidity for purchases [68][70] Question: Digital strategy updates - Management emphasized a customer-centric approach in their digital strategy, with ongoing investments in technology [102][103]

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, 2023 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 ...

Forward Looking Statements Factors that might cause such a difference include but are not limited to (i) general business and economic conditions, including changes in interest rates; (ii) cybersecurity breaches; (iii) hurricanes, earthquakes and other natural disasters; (iv) competition in the financial services industry; and (v) the severity, magnitude and duration of the COVID-19 pandemic, and its impact on our operations, personnel, and customers. In addition to our financial information presented in ac ...

OFG Bancorp (NYSE:OFG) Q1 2023 Earnings Conference Call April 20, 2023 10:00 AM ET Company Participants José Rafael Fernández - Vice Chair, Board and CEO Maritza Arizmendi - Chief Financial Officer Conference Call Participants Timur Braziler - Wells Fargo Brett Rabatin - Hovde Group Alex Twerdahl - Piper Sandler Kelly Motta - KBW Operator Please standby. Your program is about to begin. [Operator Instructions] Good morning. Thank you for joining OFG Bancorp’s Conference Call. My name is Melinda. I will be yo ...

Table of Contents 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, 2022 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 ...

Financial Data and Key Metrics Changes - The company reported strong performance for the fourth quarter and fiscal year 2022, reflecting significant progress in executing its strategies [3] - The financial results indicate a solid position as a challenger bank, differentiating from competitors through technology deployment and network expansion [3] Business Line Data and Key Metrics Changes - The company has expanded its self-service banking options, now offering seven self-service banking kiosks and 23 Interactive Teller Machines, enhancing customer experience [8] Market Data and Key Metrics Changes - The company is focusing on a digital-first business transformation, which is expected to solidify its market position and improve competitiveness [3] Company Strategy and Development Direction - The company is committed to investing in technology and talent, aiming to enhance its service offerings and operational efficiency [3] - The strategic focus on digital transformation is intended to differentiate the company from traditional banks and improve customer engagement [3] Management's Comments on Operating Environment and Future Outlook - Management expressed pride in the company's achievements over the past year and emphasized the importance of ongoing investments in technology and customer service [3] Other Important Information - The call included forward-looking statements regarding management's goals and expectations, with a disclaimer about potential risks and uncertainties [4] Q&A Session Summary Question: What are the company's future growth strategies? - Management highlighted the focus on digital transformation and enhancing customer service as key growth strategies moving forward [3]

January 26, 2023 Factors that might cause such a difference include but are not limited to (i) general business and economic conditions, including changes in interest rates; (ii) cybersecurity breaches; (iii) hurricanes, earthquakes and other natural disasters; (iv) competition in the financial services industry; and (v) the severity, magnitude and duration of the COVID-19 pandemic, and its impact on our operations, personnel, and customers. Quarterly Results 4Q22 Conference Call Forward Looking Statements ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OFG Bancorp (Exact name of registrant as specified in its charter) or FORM 10-Q Commonwealth of Puerto Rico 66-0538893 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) x QUARTERLY 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 For the quarterly period ended ...