OFG Bancorp(US:OFG)2026-01-22 12:56Financial Performance - 4Q25 diluted EPS was $1.27, up 16.4% year-over-year from $1.09 in 4Q24, with total core revenues of $185.4 million, a 1.9% increase from $181.9 million in 4Q24[1][3] - Full year 2025 diluted EPS increased to $4.58, an 8.3% growth from $4.23 in 2024, with total core revenues reaching $729.8 million, up 2.8% from $709.6 million in 2024[2][3] - Net income available to common stockholders for 2025 was $205,103 thousand, compared to $198,170 thousand in 2024, representing a year-over-year increase of 3.9%[31] - Net income available to common shareholders for Q4 2025 was $55,893,000, an increase from $51,838,000 in Q3 2025[33] - Income before income taxes was $234.117 million, down from $253.748 million in the previous year, representing a decrease of 7.8%[34] Revenue and Income - Net interest income for Q4 2025 was $152,744 thousand, an increase from $149,138 thousand in Q4 2024, reflecting a growth of 2.2% year-over-year[29] - Total core revenues for the year ended 2025 reached $729,808 thousand, up from $709,621 thousand in 2024, indicating a growth of 2.8%[31] - Non-interest income totaled $122.976 million, a decrease from $123.249 million in 2024, indicating a slight decline of 0.2%[34] - Non-interest income for Q4 2025 was $31,576,000, slightly up from $31,453,000 in Q3 2025[33] Loans and Credit Quality - Total loans held for investment at the end of 4Q25 were $8.20 billion, a 1.0% sequential increase and a 5.25% year-over-year increase from $7.79 billion in 4Q24[14] - New loan production for 4Q25 was $605.6 million, a decrease from $623.9 million in 3Q25, but an 11.5% increase year-over-year, totaling $2.57 billion for the year[15] - The net charge-off rate for 2025 was 1.00%, up from 0.89% in 2024, indicating a deterioration in credit quality[31] - Total delinquency for loans (30 days and over past due) increased to $308,570 thousand in Q4 2025, up from $294,871 thousand in Q3 2025, representing a 0.24% increase[43] - Total nonperforming loans reached $130,063 thousand in Q4 2025, compared to $99,043 thousand in Q3 2025, indicating a significant increase of 31.4%[44] Deposits and Funding - Customer deposits at the end of 4Q25 were $9.92 billion, reflecting a 1.1% sequential increase and a 5.0% year-over-year increase from $9.45 billion in 4Q24[17] - Total deposits for 2025 were $9,999,885 thousand, an increase from $9,613,722 thousand in 2024, representing a growth of 4.0%[31] - Total deposits increased to $152.747 million from $150.280 million, showing a growth of 1.5%[34] Expenses and Provisions - Total provision for credit losses in 4Q25 was $31.9 million, up from $30.2 million in 4Q24, primarily due to increased loan volume[10] - Non-interest expense for 4Q25 was $105.0 million, an increase from $99.7 million in 4Q24, driven by various operational costs[12] - The provision for credit losses for 2025 totaled $107,513 thousand, significantly higher than $82,251 thousand in 2024, marking a 30.8% increase[31] Capital and Ratios - The CET1 ratio at the end of 4Q25 was 13.97%, down from 14.26% in 4Q24, while tangible book value per share increased to $29.96 from $25.43 in 4Q24[19] - Tangible common equity (Non-GAAP) reached $1,295,909,000, reflecting a tangible book value per common share of $29.96[49] - Common equity Tier 1 capital was reported at $1,318,632,000, with a common equity Tier 1 capital ratio of 13.97%[50] Asset Management - Total assets increased to $12,465.7 million as of December 31, 2025, up from $11,500.7 million a year earlier, representing a growth of 8.4%[35] - The company’s retained earnings increased to $904.6 million, up from $772.0 million, representing a growth of 17.1% year-over-year[35] - Total stockholders' equity rose to $1,390.0 million, compared to $1,254.4 million a year ago, indicating an increase of 10.8%[35] Interest Rates and Margins - The net interest margin for 2025 was 5.27%, down from 5.43% in 2024, suggesting a tightening in interest income[31] - Total interest income for 2025 was $780.936 million, an increase from $750.277 million in 2024, representing a growth of 4.4%[34] - Total interest-earning assets increased to $11,542,913 thousand in 2025, with a net interest income of $780,936 thousand and a net interest margin of 5.27%[39]