OFG Bancorp reports news as a diversified financial holding company for Oriental Bank and related financial services subsidiaries. The company operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws, with retail and commercial banking, lending, wealth management, insurance, financial services and banking technology offered primarily in Puerto Rico and the U.S. Virgin Islands.
Recurring developments include quarterly earnings, loan and deposit trends, credit quality, net interest income, balance sheet management, and customer activity in products such as Libre, Elite and My Biz accounts. News also covers common stock dividends, share repurchase authorizations, debt ratings tied to Oriental Bank, and capital actions across the holding company and bank franchise.
OFG Bancorp (NYSE: OFG) reported its fourth-quarter and annual results for 2020, showcasing a solid performance despite the pandemic's challenges. The company achieved a diluted EPS of $0.42, a recovery from a loss of $0.05 in 4Q19, while core revenues rose to $132.8 million from $98.4 million in the previous year. New loan originations reached $485.4 million, and the provision for credit losses decreased to $14.2 million. The company completed its Scotiabank integration, yielding annual cost savings, and increased its CET1 capital to $894.1 million.
OFG Bancorp (NYSE: OFG) will announce its fourth quarter 2020 financial results on Monday, January 25, 2021, before markets open. The accompanying conference call is scheduled for 10:00 AM ET the same day and will provide insights into the company’s performance.
Participants can join via toll-free or international phone lines. For those interested, the call will also be streamed live on OFG’s website, with a replay available afterward. OFG Bancorp, established for over 56 years, offers a range of financial services through its subsidiaries in Puerto Rico and the U.S. Virgin Islands.
OFG Bancorp (NYSE: OFG) reported strong third-quarter performance for the period ending September 30, 2020, driven by a healthy macro-economic environment in Puerto Rico and U.S. Virgin Islands. Key highlights include a 355% increase in diluted EPS to $0.50, a 23% drop in credit loss provisions, and a robust increase in customer deposits, totaling $8.5 billion. Operating efficiency improved with a significant reduction in non-interest expenses. Tangible book value per share rose to $16.51, and regulatory capital ratios exceeded well-capitalized standards.
OFG Bancorp (NYSE: OFG) will release its third-quarter 2020 financial results on October 23, 2020, before markets open. A conference call will follow at 10:00 AM ET, where analysts and investors can gain insights into the company's performance. Participants can join via a toll-free number (888-562-3356) or internationally (973-582-2700) using Conference ID 899-3880. The call will also be accessible live on the OFG website, with a replay available shortly afterward. OFG Bancorp operates under U.S., Puerto Rico, and U.S. Virgin Islands regulations, offering a wide range of financial services.