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OFG Bancorp Q3 2026 EPS rises 14.7% to $1.33

OFG's year-over-year diluted EPS increase was 14.7%, while loans held for investment reached $8.45 billion.

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Form Type
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Rhea-AI Filing Summary

OFG Bancorp reported third-quarter 2026 diluted earnings per share of $1.33, up 14.7% from a year earlier, while total core revenues were $185.7 million, compared with $184.0 million in Q3 2025 and $190.3 million in Q2 2026. Net income available to common shareholders was $56.6 million, versus $51.8 million a year earlier. OFG also repurchased $13.5 million of common shares.

Net interest income was $153.6 million, and provision for credit losses was $18.1 million, compared with $28.3 million in Q3 2025. Non-interest expense was $96.3 million versus $96.5 million a year earlier. Loans held for investment ended the quarter at $8.45 billion, up 4.1% year over year; customer deposits were $9.66 billion. The net charge-off rate was 0.70%, and the nonperforming loan rate was 0.74%, versus 1.00% and 1.22% in Q3 2025.

The common equity Tier 1 ratio was 14.10%. Tangible book value per share was $29.66, compared with $28.92 in Q3 2025 and $31.12 in Q2 2026; OFG attributed its sequential decline primarily to a change in accumulated other comprehensive loss. The financial supplement describes its information as preliminary and based on data available at the earnings presentation.

1 point · 0 major

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Positive

  • Moderate pointDiluted EPS increased 14.7% year over year to $1.33.

Negative

  • None.

Filing Explained

Alongside its reported third-quarter results, OFG Bancorp disclosed a lower quarter-end cash balance: cash and equivalents were $566.8 million at September 30, 2026, versus $745.7 million at June 30, 2026. It attributed the decline mainly to mortgage-backed securities purchases and loan growth, while borrowings and brokered deposits rose $131.1 million for liquidity management.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Diluted EPS $1.33 per share Q3 2026; $1.16 in Q3 2025
Total core revenues $185.7 million Q3 2026; $184.0 million in Q3 2025 and $190.3 million in Q2 2026
Net income available to common shareholders $56.6 million Q3 2026; $51.8 million in Q3 2025
Loans held for investment $8.45 billion End of Q3 2026; up 4.1% year over year
Customer deposits $9.66 billion End of Q3 2026; $9.82 billion in Q3 2025
Net charge-off rate 0.70% Q3 2026; 1.00% in Q3 2025
Nonperforming loan rate 0.74% Q3 2026; 1.22% in Q3 2025
Common equity Tier 1 capital ratio 14.10% End of Q3 2026
Net interest margin financial
"Net interest margin of 5.23%"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
Pre-provision net revenues financial
"Pre-provision net revenues of $89.9 million"
non-GAAP financial measures financial
"certain “non-GAAP financial measures” within the meaning of SEC Regulation G"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
TCE ratio financial
"TCE ratio | 10.34%"
TCE ratio is a banking capital measure that compares a company's tangible common equity—shareholders’ equity minus preferred stock and intangible assets—to its tangible assets (or sometimes tangible assets after subtracting certain liabilities). Think of it like the amount of truly solid, unencumbered capital a bank has relative to the hard assets on its books; it signals how much loss-absorbing cushion is available if asset values fall. Investors use it to gauge a bank’s core solvency and capital strength.
PCD loans financial
"Information includes all loans held for investment, including PCD loans."
Diluted EPS $1.33 per share 14.7% year over year; $1.39 in Q2 2026 and $1.16 in Q3 2025
Total core revenues $185.7 million $190.3 million in Q2 2026 and $184.0 million in Q3 2025
Net income available to common shareholders $56.6 million $58.8 million in Q2 2026 and $51.8 million in Q3 2025
Net interest margin 5.23% 5.45% in Q2 2026 and 5.24% in Q3 2025
Loans held for investment $8.45 billion Up 4.1% year over year; $8.30 billion in Q2 2026 and $8.12 billion in Q3 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were OFG's Q3 2026 earnings and revenue?
OFG reported diluted EPS of $1.33, compared with $1.39 in Q2 2026 and $1.16 in Q3 2025; total core revenues were $185.7 million, compared with $190.3 million and $184.0 million, respectively.

How much common stock did OFG repurchase in Q3 2026?
OFG repurchased $13.5 million of common shares.

What was OFG's Q3 2026 loan production?
New loan production, excluding renewals, was $693.8 million, compared with $755.0 million in Q2 2026 and $623.9 million in Q3 2025.

Why did OFG's borrowings and brokered deposits increase in Q3 2026?
Total borrowings and brokered deposits were $926.6 million, compared with $795.5 million in Q2 2026. OFG said the sequential increase was for liquidity management purposes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR Accepted by SEC EDGAR
0001030469FALSE00010304692026-10-212026-10-21

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): October 21, 2026
________________
OFG BANCORP

(Exact name of registrant as specified in its charter)
________________

    Commonwealth of Puerto Rico
001-1264766-0538893
(State or other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)
Oriental Center, 15th Floor
254 Munoz Rivera Avenue
San Juan, Puerto Rico
00918
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (787) 771-6800
Not applicable
(Former name or former address, if changed since last report)
________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common shares, par value $1.00 per shareOFGNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company    ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02. Results of Operations and Financial Condition.
On October 21, 2026, OFG Bancorp (the “Company”) announced the results for the quarter ended September 30, 2026. A copy of the Company’s press release is attached as an exhibit to this report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description of Document
99
Press release by the Company dated October 21, 2026


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
OFG BANCORP
Date: October 21, 2026
By:/s/ Maritza Arizmendi
Maritza Arizmendi
Chief Financial Officer

Exhibit 99

ofg_colororange.jpg

OFG Bancorp Reports 3Q26 Results
SAN JUAN, Puerto Rico, October 21, 2026 – OFG Bancorp (NYSE: OFG), the financial holding company for Oriental Bank, today reported results for the third quarter ended September 30, 2026. EPS diluted of $1.33 compared to $1.39 in 2Q26 and $1.16 in 3Q25. Total core revenues of $185.7 million compared to $190.3 million in 2Q26 and $184.0 million in 3Q25.
CEO Comment
José Rafael Fernández, Chief Executive Officer, said: “We delivered another strong quarter, with year-over-year increases of 14.7% in EPS and 1.0% in core revenues. Our results reflect continued momentum in commercial loan growth, stable credit quality and core deposit balances, disciplined expense management, and healthy profitability. We also repurchased $13.5 million of common shares, reinforcing our commitment to creating long-term shareholder value.”
“At the same time, we continue advancing our digital bank with a human touch strategy. Customers are embracing Oriental’s digital tools and value-added services while our Libre+, Elite, and My Biz accounts are attracting new clients and helping our bankers deepen existing relationships.”
“Puerto Rico’s economy remains stable, supported by a healthy labor market and ongoing expansion by local and mainland businesses.”
3Q26 Highlights
Performance Metrics: Net interest margin of 5.23%, return on average assets of 1.86%, return on average tangible common stockholders’ equity of 17.06%, and efficiency ratio of 51.83%.
Total Interest Income of $195.7 million compared to $197.2 million in 2Q26 and $200.1 million in 3Q25. 3Q26 decreased $1.4 million sequentially, primarily reflecting the absence of $4.1 million from three paid in full commercial loans in 2Q26, partially offset by higher average balances of loans and cash, higher yields in cash and the investment portfolio, and $1.6 million from one additional business day.
Total Interest Expense of $42.2 million compared to $39.9 million in 2Q26 and $45.4 million in 3Q25. 3Q26 increased $2.3 million sequentially, primarily reflecting higher average balances of deposits at a higher cost and $0.4 million from one additional business day.
Total Banking & Financial Service Revenues of $32.2 million compared to $33.0 million in 2Q26 and $29.3 million in 3Q25. 3Q26 decreased $0.8 million sequentially, reflecting the absence of $1.1 million in insurance and annuity fees in wealth management in 2Q26 and lower mortgage banking revenues, partially offset by higher banking service revenues.
Pre-Provision Net Revenues of $89.9 million compared to $87.5 million in 2Q26 and $89.6 million in 3Q25.
Total Provision for Credit Losses of $18.1 million compared to $13.0 million in 2Q26 and $28.3 million in 3Q25. 3Q26 primarily reflected $17.5 million for increased loan volume and $1.3 million due to seasonal adjustment for auto delinquency, while 2Q26 included $14.7 million for increased loan volume and $1.9 million in commercial loan recoveries.
1

Credit Quality: The early and total delinquency rates of 2.65% and 3.91% both increased sequentially from 2Q26 due to seasonal trends, but declined year over year compared to 3Q25. At the same time, the 3Q26 net charge off and nonperforming loan rates of 0.70% and 0.74% both declined compared to both 2Q26 and 3Q25.
Total Non-Interest Expense of $96.3 million compared to $102.8 million in 2Q26 and $96.5 million in 3Q25. 3Q26 primarily reflected the absence of $5.8 million in business related operational charges in 2Q26.
Income Tax Expense was $15.2 million compared to $15.7 million in 2Q26 and $9.5 million in 3Q25. 3Q26 reflected an anticipated ETR of 22.53% for the year.
Loans Held for Investment (EOP) of $8.45 billion compared to $8.30 billion in 2Q26 and $8.12 billion in 3Q25. 3Q26 balances grew $150.9 million or 1.8% sequentially, reflecting increases in Puerto Rico commercial and consumer loans, more than offsetting declines in other categories. Year over year, loans are up 4.1%.
New Loan Production of $693.8 million compared to $755.0 million in 2Q26 and $623.9 million in 3Q25. 3Q26 production decreased $61.2 million sequentially, reflecting decreases in Puerto Rico commercial, auto, and residential mortgage, partially offset by increases in U.S. commercial and Puerto Rico consumer loans.
Total Investments (EOP) of $2.72 billion compared to $2.70 billion in 2Q26 and $2.94 billion in 3Q25. 3Q26 primarily reflected purchases of $216.1 million of mortgage-backed securities toward the end of the quarter and $21.1 million of securitizations, partially offset by market value adjustments and MBS principal paydowns.
Customer Deposits (EOP) of $9.66 billion compared to $9.74 billion in 2Q26 and $9.82 billion in 3Q25. 3Q26 deposits decreased $79.9 million or 0.8% sequentially, reflecting decreases in demand and savings deposits, partially offset by an increase in time deposits.
Total Borrowings & Brokered Deposits (EOP) of $926.6 million compared to $795.5 million in 2Q26 and $746.4 million in 3Q25. 3Q26 total borrowings and brokered deposits increased $131.1 million sequentially for liquidity management purposes.
Cash & Cash Equivalents (EOP) of $566.8 million compared to $745.7 million in 2Q26 and $740.3 million in 3Q25. 3Q26 cash decreased $178.9 million sequentially primarily due to the above mentioned MBS purchase and loan growth.
Capital: CET1 ratio was 14.10% compared to 14.07% in 2Q26 and 14.13% in 3Q25. Tangible Common Equity ratio was 10.34% compared to 10.90% in 2Q26 and 10.55% in 3Q25. Tangible Book Value per share was $29.66 compared to $31.12 in 2Q26 and $28.92 in 3Q25. 3Q26 TBV declined sequentially primarily due to the change in accumulated other comprehensive loss.
Conference Call, Financial Supplement & Presentation
A conference call to discuss 3Q26 results, outlook and related matters will be held today at 10:00 AM ET. Phone (800) 579-2543 or (785) 424-1789. Conference ID: OFGQ326. The call can also be accessed live on www.ofgbancorp.com with webcast replay shortly thereafter. OFG’s Financial Supplement, with full financial tables for the quarter ended September 30, 2026, and the 3Q26 Conference Call Presentation, can be found on the Quarterly Results page on OFG’s Investor Relations website at www.ofgbancorp.com.

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Non-GAAP Financial Measures
In addition to our financial information presented in accordance with GAAP, management uses certain “non-GAAP financial measures” within the meaning of SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Please refer to Tables 8-1 and 8-2 in OFG’s above-mentioned Financial Supplement for a reconciliation of GAAP to non-GAAP measures and calculations.
Forward Looking Statements
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. 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, pandemics, and other natural disasters; and (iv) competition in the financial services industry. For a discussion of such factors and certain risks and uncertainties to which OFG is subject, please refer to OFG’s annual report on Form 10-K for the year ended December 31, 2025, as well as its other filings with the U.S. Securities and Exchange Commission. Other than to the extent required by applicable law, including the requirements of applicable securities laws, OFG assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.
About OFG Bancorp
Now in its 62nd year in business, OFG Bancorp is a diversified financial holding company that operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a wide range of retail and commercial banking, lending and wealth management products, services, and technology, primarily in Puerto Rico and U.S. Virgin Islands. Our mission is to make progress possible for our customers, employees, shareholders, and the communities we serve. Visit us at www.ofgbancorp.com.
Contacts
Puerto Rico & USVI: Lumarie Vega López (lumarie.vega@orientalbank.com) and Victoria Maldonado Rodríguez (victoria.maldonado@orientalbank.com) at (787) 771-6800
US: Gary Fishman (gfishman@ofgbancorp.com) and Michael Wichman (michael.wichman@ofgbancorp.com) at (212) 532-3232
3


OFG Bancorp
Financial Supplement
The information contained in this Financial Supplement is preliminary and based on data available at the time of the earnings presentation, and investors should refer to our September 30, 2026 Quarterly Report on Form 10-Q once it is filed with the Securities and Exchange Commission.
Table of Contents
Pages
OFG Bancorp (Consolidated Financial Information)
Table  1:
Financial and Statistical Summary - Consolidated
2
Table  2:
Consolidated Statements of Operations
4
Table  3:
Consolidated Statements of Financial Condition
6
Table  4:
Information on Loan Portfolio and Production
7
Table  5:
Average Balances, Net Interest Income and Net Interest Margin
8
Table  6:
Loan Information and Performance Statistics
10
Table  7:
Allowance for Credit Losses
13
Table  8:
Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital
14
Table  9:
Notes to Financial Summary, Selected Metrics, Loans, and Consolidated Financial Statements (Tables 1-8)
16


OFG Bancorp (NYSE: OFG)
Table 1-1: Financial and Statistical Summary - Consolidated

2026
2026
2026
2025
2025
(Dollars in thousands, except per share data) (unaudited)
Q3
Q2
Q1
Q4
Q3
Statement of Operations
Net interest income$153,570$157,299$153,813$152,744$154,724
Non-interest income, net (core)(1)32,17832,98431,98832,62729,256
Total core revenues(2)185,748190,283185,801185,371183,980
Non-interest expense96,265102,83294,703105,01196,548
Pre-provision net revenues(20)89,94987,49091,27779,30989,629
Total provision for credit losses18,14013,00622,48331,88928,258
Net income before income taxes71,80974,48468,79447,42061,371
Income tax expense (benefit)15,19815,70714,857(8,473)9,533
Net income available to common stockholders56,61158,77753,93755,89351,838
Common Share Statistics
Earnings per common share - basic(3)$1.34$1.39$1.26$1.28$1.17
Earnings per common share - diluted(4)$1.33$1.39$1.26$1.27$1.16
Average common shares outstanding42,19142,26142,78643,64944,430
Average common shares outstanding and equivalents42,44442,39742,95643,90144,658
Cash dividends per common share$0.35$0.35$0.35$0.30$0.30
Book value per common share (period end)$31.83$33.30$32.35$32.13$31.07
Tangible book value per common share (period end)(5)$29.66$31.12$30.14$29.96$28.92
Balance Sheet (Average Balances)
Loans(6)$8,282,656$8,245,654$8,167,438$8,117,032$8,098,058
Interest-earning assets11,648,82611,582,52111,633,35411,827,93311,715,599
Total assets12,171,03012,154,69112,138,94412,377,91012,248,544
Core deposits9,720,6809,705,4809,560,6409,930,9399,866,369
Total deposits9,979,8999,921,8079,829,01910,161,72810,086,731
Interest-bearing deposits7,223,0197,172,7857,171,5897,541,2767,498,818
Borrowings581,461579,724660,300555,820548,832
Stockholders' equity1,418,8911,403,1371,406,9381,394,0971,361,055
Performance Metrics
Net interest margin(7)5.23 %5.45 %5.36 %5.12 %5.24 %
Return on average assets(8)1.86 %1.93 %1.78 %1.81 %1.69 %
Return on average tangible common stockholders' equity(9)17.06 %17.94 %16.43 %17.20 %16.39 %
Efficiency ratio(10)51.83 %54.04 %50.97 %56.65 %52.48 %
Full-time equivalent employees, period end2,156 2,185 2,181 2,185 2,217 
Credit Quality Metrics
Allowance for credit losses$191,829$188,255$203,956$202,341$197,782
Allowance as a % of loans held for investment2.27 %2.27 %2.48 %2.47 %2.44 %
Net charge-offs$14,460$28,791$21,379$26,873$20,208
Net charge-off rate(11)0.70 %1.40 %1.05 %1.32 %1.00 %
Early delinquency rate (30 - 89 days past due)2.65 %2.51 %2.21 %2.80 %2.84 %
Total delinquency rate (30 days and over)3.91 %3.68 %3.40 %4.18 %4.06 %
Capital Ratios (period end) (Non-GAAP)(12)
Leverage ratio11.44 %11.23 %10.88 %10.71 %10.75 %
Common equity Tier 1 capital ratio14.10 %14.07 %13.75 %13.97 %14.13 %
Tier 1 risk-based capital ratio14.10 %14.07 %13.75 %13.97 %14.13 %
Total risk-based capital ratio15.36 %15.33 %15.01 %15.24 %15.39 %
Tangible common equity ("TCE") ratio10.34 %10.90 %10.66 %10.47 %10.55 %



2

OFG Bancorp (NYSE: OFG)
Table 1-2: Financial and Statistical Summary - Consolidated (Continued)
Nine-month period ended September 30,
(Dollars in thousands, except per share data) (unaudited)20262025
Statement of Operations
Net interest income$464,682 $455,723 
Non-interest income, net (core)(1)97,150 88,714 
Total core revenues(2)561,832 544,437 
Non-interest expense293,800 284,802 
Pre-provision net revenues(21)268,716 262,321 
Total provision for credit losses53,629 75,624 
Net income before income taxes215,087 186,697 
Income tax expense45,762 37,487 
Net income available to common stockholders169,325 149,210 
Common Share Statistics
Earnings per common share - basic(3)$3.99 $3.33 
Earnings per common share - diluted(4)$3.97 $3.31 
Average common shares outstanding42,410 44,857 
Average common shares outstanding and equivalents42,620 45,056 
Cash dividends per common share$1.05 $0.90 
Book value per common share (period end)$31.83 $31.07 
Tangible book value per common share (period end)(5)$29.66 $28.92 
Balance Sheet (Average Balances)
Loans(6)$8,232,338 $7,950,053 
Interest-earning assets11,621,623 11,446,863 
Total assets12,155,006 11,957,028 
Core deposits9,662,855 9,743,039 
Total deposits9,910,797 9,945,348 
Interest-bearing deposits7,189,320 7,374,668 
Borrowings606,873 451,469 
Stockholders' equity1,409,699 1,323,866 
Performance Metrics
Net interest margin(7)5.35 %5.32 %
Return on average assets(8)1.86 %1.66 %
Return on average tangible common stockholders' equity(9)17.14 %16.22 %
Efficiency ratio(10)52.29 %52.31 %
Full-time equivalent employees, period end2,156 2,217 
Credit Quality Metrics
Allowance for credit losses$191,829 $197,782 
Allowance as a % of loans held for investment2.27 %2.44 %
Net charge-offs$64,630 $53,362 
Net charge-off rate(11)1.05 %0.89 %
Early delinquency rate (30 - 89 days past due)2.65 %2.84 %
Total delinquency rate (30 days and over)3.91 %4.06 %





3

OFG Bancorp (NYSE: OFG)
Table 2-1: Consolidated Statements of Operations
Quarter Ended
(Dollars in thousands) (unaudited)September 30, 2026June 30, 2026March 31,
2026		December 31,
2025		September 30,
2025
Interest income:
Loans
Non-PCD loans$147,994 $146,862 $142,211 $144,385 $146,665 
PCD loans12,412 15,553 16,343 13,826 14,669 
Total interest income from loans160,406 162,415 158,554 158,211 161,334 
Investment securities and cash35,338 34,735 35,572 39,011 38,811 
Total interest income195,744 197,150 194,126 197,222 200,145 
Interest expense:
Deposits
Core deposits33,669 31,960 31,196 36,482 37,458 
Brokered deposits2,671 2,164 2,672 2,352 2,284 
Total deposits36,340 34,124 33,868 38,834 39,742 
Borrowings5,834 5,727 6,445 5,644 5,679 
Total interest expense42,174 39,851 40,313 44,478 45,421 
Net interest income153,570 157,299 153,813 152,744 154,724 
Provision for credit losses, excluding PCD loans17,137 14,825 22,942 33,643 27,591 
Provision for (recapture of) credit losses on PCD loans1,003 (1,819)(459)(1,754)667 
Total provision for credit losses18,140 13,006 22,483 31,889 28,258 
Net interest income after provision for credit losses135,430 144,293 131,330 120,855 126,466 
Non-interest income:
Banking service revenues17,674 17,397 16,944 16,550 15,930 
Wealth management revenues9,367 9,727 8,913 11,378 9,014 
Mortgage banking activities5,137 5,860 6,131 4,699 4,312 
Total banking and financial service revenues32,178 32,984 31,988 32,627 29,256 
Other income (loss), net466 39 179 (1,051)2,197 
Total non-interest income, net32,644 33,023 32,167 31,576 31,453 
Non-interest expense:
Compensation and employee benefits40,511 41,176 41,347 43,093 39,836 
Occupancy, equipment and infrastructure costs14,760 14,273 13,418 15,338 14,994 
General and administrative expenses40,898 47,859 40,052 46,371 42,239 
Foreclosed real estate and other repossessed assets expense (income), net96 (476)(114)209 (521)
Total non-interest expense96,265 102,832 94,703 105,011 96,548 
Income before income taxes71,809 74,484 68,794 47,420 61,371 
Income tax expense (benefit)15,198 15,707 14,857 (8,473)9,533 
Net income available to common shareholders$56,611 $58,777 $53,937 $55,893 $51,838 

4

OFG Bancorp (NYSE: OFG)
Table 2-2: Consolidated Statements of Operations (Continued)
(Dollars in thousands) (unaudited)Nine-month period ended September 30,
20262025
Interest income:
Loans
Non-PCD loans$437,067 $426,152 
PCD loans44,308 45,577 
Total interest income from loans481,375 471,729 
Investment securities and cash105,645 111,985 
Total interest income587,020 583,714 
Interest expense:
Deposits
Core deposits96,825 107,632 
Brokered deposits7,507 6,281 
Total deposits104,332 113,913 
Borrowings18,006 14,078 
Total interest expense122,338 127,991 
Net interest income464,682 455,723 
Provision for credit losses, excluding PCD loans54,904 73,411 
(Recapture of) provision for credit losses on PCD loans(1,275)2,213 
Total provision for credit losses53,629 75,624 
Net interest income after provision for credit losses411,053 380,099 
Non-interest income:
Banking service revenues52,015 47,893 
Wealth management revenues28,007 26,387 
Mortgage banking activities17,128 14,434 
Total banking and financial service revenues97,150 88,714 
Other income, net684 2,686 
Total non-interest income, net97,834 91,400 
Non-interest expense:
Compensation and employee benefits123,034 119,333 
Occupancy, equipment and infrastructure costs42,451 44,443 
General and administrative expenses128,809 120,209 
Foreclosed real estate and other repossessed assets (income) expense, net(494)817 
Total non-interest expense293,800 284,802 
Income before income taxes215,087 186,697 
Income tax expense45,762 37,487 
Net income available to common shareholders$169,325 $149,210 


5

OFG Bancorp (NYSE: OFG)
Table 3: Consolidated Statements of Financial Condition
(Dollars in thousands) (unaudited)September 30, 2026
June 30, 2026
March 31, 2026
December 31, 2025
September 30, 2025
Cash and cash equivalents$566,773 $745,706 $636,499 $1,040,335 $740,349 
Investments:
Trading securities22 23 24 23 21 
Investment securities available-for-sale, at fair value, no allowance for credit losses for any period
Mortgage-backed securities2,397,434 2,370,468 2,457,541 2,508,730 2,564,831 
US treasury securities
2,124 2,150 2,131 1,651 1,635 
Other investment securities500 500 500 501 503 
Total investment securities available-for-sale2,400,058 2,373,118 2,460,172 2,510,882 2,566,969 
Investment securities held-to-maturity, at amortized cost, no allowance for credit losses for any period
Mortgage-backed securities252,328 258,698 264,580 269,498 275,116 
Other investment securities— — — — 35,000 
Total investment securities held-to-maturity252,328 258,698 264,580 269,498 310,116 
Equity securities64,727 64,817 63,682 62,738 61,906 
Total investments2,717,135 2,696,656 2,788,458 2,843,141 2,939,012 
Loans, net8,266,856 8,117,021 8,040,074 8,014,246 7,935,413 
Other assets:
Prepaid expenses30,921 25,687 17,050 20,415 150,461 
Deferred tax asset, net127,364 113,343 120,431 104,359 7,468 
Foreclosed real estate and repossessed properties6,296 5,870 6,347 5,947 8,025 
Premises and equipment, net96,538 95,601 92,731 93,554 100,760 
Goodwill84,241 84,241 84,241 84,241 84,241 
Other intangibles6,898 7,884 8,869 9,854 11,086 
Right of use assets22,815 19,640 20,275 21,261 22,694 
Servicing asset68,542 67,867 67,228 66,333 67,437 
Accounts receivable and other assets150,100 175,056 165,700 161,971 162,866 
Total assets$12,144,479 $12,154,572 $12,047,903 $12,465,657 $12,229,812 
Deposits:
Demand deposits$4,751,226 $4,887,404 $5,347,977 $5,799,985 $5,791,959 
Savings accounts2,276,934 2,358,067 2,367,531 2,259,980 2,208,212 
Time deposits2,636,195 2,498,777 1,943,866 1,862,793 1,819,397 
Brokered deposits324,564 238,880 189,898 339,994 189,065 
Total deposits9,988,919 9,983,128 9,849,272 10,262,752 10,008,633 
Borrowings:
Securities sold under agreements to repurchase200,673 100,085 100,086 100,714 100,791 
Advances from FHLB and other borrowings401,361 456,530 456,581 456,590 456,530 
Total borrowings602,034 556,615 556,667 557,304 557,321 
Other liabilities:
Acceptances outstanding23,734 19,418 22,665 22,442 29,975 
Lease liability24,505 21,376 22,088 23,157 24,681 
GNMA buy-back option program liability(21)58,692 52,938 54,358 56,492 46,716 
Deferred tax liability, net
755 615 337 — 50,298 
Accrued expenses and other liabilities108,964 113,210 175,621 153,505 136,771 
Total liabilities10,807,603 10,747,300 10,681,008 11,075,652 10,854,395 
Stockholders' equity:
Common stock59,885 59,885 59,885 59,885 59,885 
Additional paid-in capital643,653 642,019 640,656 642,973 641,350 
Legal surplus204,892 199,429 193,787 188,490 183,614 
Retained earnings 1,013,210 976,946 938,349 904,630 866,826 
Treasury stock, at cost(445,597)(432,061)(432,209)(389,067)(348,957)
Accumulated other comprehensive loss, net(139,167)(38,946)(33,573)(16,906)(27,301)
Total stockholders' equity1,336,876 1,407,272 1,366,895 1,390,005 1,375,417 
Total liabilities and stockholders' equity$12,144,479 $12,154,572 $12,047,903 $12,465,657 $12,229,812 

6

OFG Bancorp (NYSE: OFG)
Table 4-1: Information on Loan Portfolio and Production
(Dollars in thousands) (unaudited)
September 30, 2026
June 30, 2026
March 31, 2026
December 31, 2025
September 30, 2025
Non-PCD:
Mortgage, excluding GNMA buy-back option program$611,871 $604,990 $588,642 $582,563 $580,332 
Mortgage GNMA buy-back option program(21)58,692 52,938 54,358 56,492 46,716 
Commercial PR2,859,805 2,679,280 2,611,166 2,586,305 2,469,925 
Commercial US862,850 871,454 871,640 829,975 831,731 
Consumer696,959 686,883 677,535 683,246 685,740 
Auto2,601,770 2,623,762 2,630,422 2,636,890 2,646,811 
7,691,947 7,519,307 7,433,763 7,375,471 7,261,255 
Less:  Allowance for credit losses(187,165)(184,747)(200,111)(198,239)(189,701)
Total non-PCD loans held for investment, net7,504,782 7,334,560 7,233,652 7,177,232 7,071,554 
PCD:
Mortgage689,095 709,278 730,629 751,291 772,808 
Commercial PR67,031 68,487 70,290 73,889 82,748 
Consumer263 316 306 302 337 
Auto63 66 75 89 119 
756,452 778,147 801,300 825,571 856,012 
Less:  Allowance for credit losses(4,664)(3,508)(3,845)(4,102)(8,081)
Total PCD loans held for investment, net751,788 774,639 797,455 821,469 847,931 
Total loans held for investment8,256,570 8,109,199 8,031,107 7,998,701 7,919,485 
Mortgage loans held for sale10,286 7,822 8,967 12,483 9,680 
Other loans held for sale— — — 3,062 6,248 
Total loans, net$8,266,856 $8,117,021 $8,040,074 $8,014,246 $7,935,413 
Loan Portfolio Summary:
Loans held for investment:
Mortgage, excluding GNMA buy-back option program$1,300,966 $1,314,268 $1,319,271 $1,333,854 $1,353,140 
Mortgage GNMA buy-back option program(21)58,692 52,938 54,358 56,492 46,716 
Commercial PR2,926,836 2,747,767 2,681,456 2,660,194 2,552,673 
Commercial US862,850 871,454 871,640 829,975 831,731 
Consumer697,222 687,199 677,841 683,548 686,077 
Auto2,601,833 2,623,828 2,630,497 2,636,979 2,646,930 
8,448,399 8,297,454 8,235,063 8,201,042 8,117,267 
Less:  Allowance for credit losses(191,829)(188,255)(203,956)(202,341)(197,782)
Total loans held for investment, net8,256,570 8,109,199 8,031,107 7,998,701 7,919,485 
Mortgage loans held for sale10,286 7,822 8,967 12,483 9,680 
Other loans held for sale— — — 3,062 6,248 
Total loans, net$8,266,856 $8,117,021 $8,040,074 $8,014,246 $7,935,413 
OFG Bancorp (NYSE: OFG)
Table 4-2: Information on Loan Portfolio and Production
Quarter EndedNine-month period ended September 30,
(Dollars in thousands) (unaudited)September 30, 2026
June 30, 2026
March 31, 2026
December 31, 2025
September 30, 2025
20262025
Loan production(13)
Mortgage$49,805 $55,565 $41,948 $44,593 $42,392 $147,318 $134,981 
Commercial PR258,015 333,408 200,441 201,974 216,560 791,864 633,666 
Commercial US121,763 95,335 102,733 111,896 116,368 319,831 321,500 
Consumer87,708 82,287 68,481 68,204 76,027 238,476 220,643 
Auto176,534 188,440 195,256 178,928 172,558 560,230 655,724 
Total$693,825 $755,035 $608,859 $605,595 $623,905 $2,057,719 $1,966,514 
7

OFG Bancorp (NYSE: OFG)
Table 5-1: Average Balances, Net Interest Income and Net Interest Margin
2026 Q3
2026 Q2
2026 Q1
2025 Q4
2025 Q3
(Dollars in thousands) (unaudited)Average
Balance		Interest
Income/
Expense		Yield/
Rate		Average
Balance		Interest
Income/
Expense		Yield/
Rate		Average
Balance		Interest
Income/
Expense		Yield/
Rate		Average
Balance		Interest
Income/
Expense		Yield/
Rate		Average
Balance		Interest
Income/
Expense		Yield/
Rate
Interest earning assets:
Cash equivalents$644,029 $5,859 3.61 %$615,369 $5,493 3.58 %$660,529 $5,855 3.59 %$803,931 $7,898 3.90 %$784,978 $8,555 4.32 %
Investment securities2,722,141 29,479 4.33 %2,721,498 29,242 4.30 %2,805,387 29,717 4.24 %2,906,970 31,113 4.28 %2,832,563 30,256 4.27 %
Loans held for investment
Non-PCD loans7,519,777 147,994 7.81 %7,460,999 146,862 7.90 %7,356,900 142,211 7.84 %7,272,783 144,385 7.88 %7,228,920 146,665 8.05 %
PCD loans762,879 12,412 6.51 %784,655 15,553 7.93 %810,538 16,343 8.07 %844,249 13,826 6.55 %869,138 14,669 6.75 %
Total loans8,282,656 160,406 7.68 %8,245,654 162,415 7.90 %8,167,438 158,554 7.87 %8,117,032 158,211 7.73 %8,098,058 161,334 7.90 %
Total interest-earning assets$11,648,826 $195,744 6.67 %$11,582,521 $197,150 6.83 %$11,633,354 $194,126 6.77 %$11,827,933 $197,222 6.62 %$11,715,599 $200,145 6.78 %
Interest bearing liabilities:
Deposits
NOW accounts$2,076,510 $5,959 1.14 %$2,503,812 $8,786 1.41 %$2,711,262 $10,093 1.51 %$3,211,013 $14,976 1.85 %$3,208,598 $15,941 1.97 %
Savings accounts2,333,667 6,316 1.07 %2,345,584 6,281 1.07 %2,319,764 6,391 1.12 %2,258,856 6,450 1.13 %2,215,538 6,212 1.11 %
Time deposits2,553,623 20,639 3.21 %2,107,062 16,138 3.07 %1,872,184 13,957 3.02 %1,840,618 14,113 3.04 %1,854,320 14,362 3.07 %
Brokered deposits259,219 2,671 4.09 %216,327 2,164 4.01 %268,379 2,672 4.04 %230,789 2,352 4.04 %220,362 2,284 4.11 %
7,223,019 35,585 1.95 %7,172,785 33,369 1.87 %7,171,589 33,113 1.87 %7,541,276 37,891 1.99 %7,498,818 38,799 2.05 %
Non-interest bearing deposit accounts2,756,880 — — 2,749,022 — — 2,657,430 — — 2,620,452 — — 2,587,913 — — 
Fair value premium and core deposit intangible amortization— 755 — — 755 — — 755 — — 943 — — 943 — 
Total deposits9,979,899 36,340 1.44 %9,921,807 34,124 1.38 %9,829,019 33,868 1.40 %10,161,728 38,834 1.52 %10,086,731 39,742 1.56 %
Borrowings
Securities sold under agreements to repurchase134,360 1,225 3.62 %122,685 1,074 3.51 %204,480 1,855 3.68 %100,000 951 3.77 %93,028 986 4.21 %
Advances from FHLB and other borrowings447,101 4,609 4.09 %457,039 4,653 4.08 %455,820 4,590 4.08 %455,820 4,693 4.08 %455,804 4,693 4.08 %
Total borrowings581,461 5,834 3.98 %579,724 5,727 3.96 %660,300 6,445 3.96 %555,820 5,644 4.03 %548,832 5,679 4.10 %
Total liabilities
$10,561,360 $42,174 1.58 %$10,501,531 $39,851 1.52 %$10,489,319 $40,313 1.56 %$10,717,548 $44,478 1.65 %$10,635,563 $45,421 1.69 %
Interest rate spread$153,570 5.09 %$157,299 5.31 %$153,813 5.21 %$152,744 4.97 %$154,724 5.09 %
Net interest margin5.23 %5.45 %5.36 %5.12 %5.24 %
Core deposits: (Non-GAAP)
NOW accounts$2,076,510 $5,959 1.14 %$2,503,812 $8,786 1.41 %$2,711,262 $10,093 1.51 %$3,211,013 $14,976 1.85 %$3,208,598 $15,941 1.97 %
Savings accounts2,333,667 6,316 1.07 %2,345,584 6,281 1.07 %2,319,764 6,391 1.12 %2,258,856 6,450 1.13 %2,215,538 6,212 1.11 %
Time deposits2,553,623 20,639 3.21 %2,107,062 16,138 3.07 %1,872,184 13,957 3.02 %1,840,618 14,113 3.04 %1,854,320 14,362 3.07 %
6,963,800 32,914 1.88 %6,956,458 31,205 1.80 %6,903,210 30,441 1.79 %7,310,487 35,539 1.93 %7,278,456 36,515 1.99 %
Non-interest bearing deposit accounts2,756,880 — — 2,749,022 — — 2,657,430 — — 2,620,452 — — 2,587,913 — — 
Total core deposits$9,720,680 $32,914 1.34 %$9,705,480 $31,205 1.29 %$9,560,640 $30,441 1.29 %$9,930,939 $35,539 1.42 %$9,866,369 $36,515 1.47 %
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings
$581,461 $5,834 3.98 %$579,724 $5,727 3.96 %$660,300 $6,445 3.96 %$555,820 $5,644 4.03 %$548,832 $5,679 4.10 %
Brokered deposits
259,219 2,671 4.09 %216,327 2,164 4.01 %268,379 2,672 4.04 %230,789 2,352 4.04 %220,362 2,284 4.11 %
Total borrowings and brokered deposits
$840,680 $8,505 4.01 %$796,051 $7,891 3.98 %$928,679 $9,117 3.98 %$786,609 $7,996 4.03 %$769,194 $7,963 4.11 %
8

OFG Bancorp (NYSE: OFG)
Table 5-2: Average Balances, Net Interest Income and Net Interest Margin (Continued)
Nine-month period ended September 30,
20262025
(Dollars in thousands) (unaudited)Average
Balance		Interest
Income/
Expense		Yield/
Rate		Average
Balance		Interest
Income/
Expense		Yield/
Rate
Interest earning assets:
Cash equivalents$639,915 $17,207 3.60 %$708,922 $22,949 4.33 %
Investment securities2,749,370 88,438 4.29 %2,787,888 89,036 4.26 %
Loans held for investment
Non-PCD loans7,446,489 437,067 7.85 %7,054,829 426,152 8.08 %
PCD loans785,849 44,308 7.52 %895,224 45,577 6.79 %
Total loans8,232,338 481,375 7.82 %7,950,053 471,729 7.93 %
Total interest-earning assets$11,621,623 $587,020 6.75 %$11,446,863 $583,714 6.82 %
Interest bearing liabilities:
Deposits
NOW accounts$2,428,203 $24,838 1.37 %$3,204,413 $46,288 1.93 %
Savings accounts2,333,056 18,988 1.09 %2,143,116 16,415 1.02 %
Time deposits2,180,119 50,735 3.11 %1,824,830 42,099 3.08 %
Brokered deposits247,942 7,507 4.05 %202,309 6,281 4.15 %
7,189,320 102,068 1.90 %7,374,668 111,083 2.01 %
Non-interest bearing deposit accounts2,721,477 — — %2,570,680 — — %
Fair value premium and core deposit intangible amortization— 2,264 — — 2,830 — 
Total deposits9,910,797 104,332 1.41 %9,945,348 113,913 1.53 %
Borrowings
Securities sold under agreements to repurchase153,585 4,154 3.62 %55,800 1,816 4.35 %
Advances from FHLB and other borrowings453,288 13,852 4.09 %395,669 12,262 4.14 %
Total borrowings606,873 18,006 3.97 %451,469 14,078 4.17 %
Total interest-bearing liabilities$10,517,670 $122,338 1.56 %$10,396,817 $127,991 1.65 %
Interest rate spread$464,682 5.19 %$455,723 5.17 %
Net interest margin5.35 %5.32 %
Core deposits: (Non-GAAP)
NOW accounts$2,428,203 $24,838 1.37 %$3,204,413 $46,288 1.93 %
Savings accounts2,333,056 18,988 1.09 %2,143,116 16,415 1.02 %
Time deposits2,180,119 50,735 3.11 %1,824,830 42,099 3.08 %
6,941,378 94,561 1.82 %7,172,359 104,802 1.95 %
Non-interest bearing deposit accounts2,721,477 — — %2,570,680 — — %
Total core deposits$9,662,855 $94,561 1.31 %$9,743,039 $104,802 1.44 %
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings
$606,873 $18,006 3.97 %$451,469 $14,078 4.17 %
Brokered deposits
247,942 7,507 4.05 %202,309 6,281 4.15 %
Total borrowings and brokered deposits
$854,815 $25,513 3.99 %$653,778 $20,359 4.16 %
9

OFG Bancorp (NYSE: OFG)
Table 6-1: Loan Information and Performance Statistics
20262026202620252025
(Dollars in thousands) (unaudited)Q3Q2Q1Q4Q3
Net Charge-offs
Non-PCD
Mortgage:
Charge-offs$85 $— $66 $— $— 
Recoveries(187)(265)(193)(91)(171)
Total mortgage(102)(265)(127)(91)(171)
Commercial PR:
Charge-offs295 15,225 75 6,012 1,446 
Recoveries(169)(173)(52)(1,275)(922)
Total commercial PR126 15,052 23 4,737 524 
Commercial US:
Charge-offs299 1,608 3,934 55 3,647 
Recoveries(1,137)(55)— (44)— 
Total commercial US(838)1,553 3,934 11 3,647 
Consumer:
Charge-offs7,774 7,766 8,819 9,023 7,704 
Recoveries(1,104)(1,112)(1,068)(964)(896)
Total consumer6,670 6,654 7,751 8,059 6,808 
Auto:
Charge-offs16,110 14,420 18,159 19,002 16,743 
Recoveries(7,353)(7,141)(8,159)(7,070)(7,108)
Total auto8,757 7,279 10,000 11,932 9,635 
Total$14,613$30,273$21,581$24,648$20,443
PCD
Mortgage:
Charge-offs$— $— $6 $— $— 
Recoveries(100)(78)(167)(239)(281)
Total mortgage(100)(78)(161)(239)(281)
Commercial PR:
Charge-offs— — — 3,223 205 
Recoveries(15)(1,380)(21)(734)(118)
Total commercial PR(15)(1,380)(21)2,489 87 
Consumer:
Charge-offs— — — — — 
Recoveries(14)(13)(6)(6)(10)
Total consumer(14)(13)(6)(6)(10)
Auto:
Charge-offs— — — 6 2 
Recoveries(24)(11)(14)(25)(33)
Total auto(24)(11)(14)(19)(31)
Total$(153)$(1,482)$(202)$2,225$(235)
Total Net Charge-offs$14,460$28,791$21,379$26,873$20,208
Net Charge-off Rates
Mortgage(0.06)%(0.10)%(0.09)%(0.10)%(0.13)%
Commercial PR0.02 %2.01 %— %1.11 %0.10 %
Commercial US(0.39)%0.71 %1.85 %0.01 %1.74 %
Consumer3.73 %3.78 %4.40 %4.55 %3.85 %
Auto1.34 %1.11 %1.52 %1.81 %1.45 %
Total0.70 %1.40 %1.05 %1.32 %1.00 %
Average Loans Held For Investment
Mortgage$1,301,792$1,313,065$1,322,249$1,341,058$1,361,765
Commercial PR2,793,4992,726,9982,654,3452,596,9712,536,829
Commercial US859,828876,561849,850834,224836,527
Consumer714,478702,519704,872707,401705,945
Auto2,613,0592,626,5112,636,1222,637,3782,656,992
Total$8,282,656$8,245,654$8,167,438$8,117,032$8,098,058

10

OFG Bancorp (NYSE: OFG)
Table 6-2: Loan Information and Performance Statistics (Excludes PCD Loans)
20262026202620252025
(Dollars in thousands) (unaudited)Q3Q2Q1Q4Q3
Early Delinquency (30 - 89 days past due)
Mortgage$10,224 $11,258 $8,287 $10,709 $11,474 
Commercial3,678 6,308 4,309 2,004 9,423 
Consumer14,969 13,410 13,615 15,341 15,000 
Auto175,187 157,876 138,020 178,100 170,075 
Total $204,058 $188,852 $164,231 $206,154 $205,972 
Early Delinquency Rates (30 - 89 days past due)
Mortgage1.52 %1.71 %1.29 %1.68 %1.83 %
Commercial0.10 %0.18 %0.12 %0.06 %0.29 %
Consumer2.15 %1.95 %2.01 %2.25 %2.19 %
Auto6.73 %6.02 %5.25 %6.75 %6.43 %
Total2.65 %2.51 %2.21 %2.80 %2.84 %
Total Delinquency (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation$20,861 $21,430 $20,192 $22,246 $22,657 
GNMA's buy-back option program(21)58,692 52,938 54,358 56,492 46,716 
Total mortgage79,553 74,368 74,550 78,738 69,373 
Commercial10,284 12,777 8,052 11,534 20,592 
Consumer18,661 17,139 17,343 19,519 18,942 
Auto191,992 172,395 152,912 198,779 185,964 
Total$300,490 $276,679 $252,857 $308,570 $294,871 
Total Delinquency Rates (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation3.11 %3.26 %3.14 %3.48 %3.61 %
GNMA's buy-back option program(21)8.75 %8.05 %8.45 %8.84 %7.45 %
Total mortgage11.86 %11.30 %11.59 %12.32 %11.06 %
Commercial0.28 %0.36 %0.23 %0.34 %0.62 %
Consumer2.68 %2.50 %2.56 %2.86 %2.76 %
Auto7.38 %6.57 %5.81 %7.54 %7.03 %
Total3.91 %3.68 %3.40 %4.18 %4.06 %
Nonperforming Assets(14)
Mortgage$15,860 $16,238 $17,921 $17,400 $17,426 
Commercial25,700 32,474 84,004 87,253 53,428 
Consumer3,740 3,798 3,837 4,378 4,194 
Auto16,919 14,580 14,934 20,750 15,962 
Total nonperforming loans62,219 67,090 120,696 129,781 91,010 
Foreclosed real estate1,615 1,675 2,037 2,490 3,160 
Other repossessed assets4,681 4,195 4,310 3,457 4,865 
Total nonperforming assets$68,515 $72,960 $127,043 $135,728 $99,035 
Nonperforming Loan Rates
Mortgage2.37 %2.47 %2.79 %2.72 %2.78 %
Commercial0.69 %0.91 %2.41 %2.55 %1.62 %
Consumer0.54 %0.55 %0.57 %0.64 %0.61 %
Auto0.65 %0.56 %0.57 %0.79 %0.60 %
Total loans0.81 %0.89 %1.62 %1.76 %1.25 %

11

OFG Bancorp (NYSE: OFG)
Table 6-3: Loan Information and Performance Statistics
20262026202620252025
(Dollars in thousands) (unaudited)Q3Q2Q1Q4Q3
Nonperforming PCD Loans(14)
Mortgage$217 $221 $224 $227 $230 
Commercial— — 24 55 7,803 
Total nonperforming loans$217 $221 $248 $282 $8,033 
Nonperforming PCD Loan Rates
Mortgage0.03 %0.03 %0.03 %0.03 %0.03 %
Commercial0.00 %0.00 %0.03 %0.07 %9.43 %
Total0.03 %0.03 %0.03 %0.03 %0.94 %
Total PCD Loans Held for Investment
Mortgage$689,095 $709,278 $730,629 $751,291 $772,808 
Commercial67,031 68,487 70,290 73,889 82,748 
Consumer263 316 306 302 337 
Auto63 66 75 89 119 
Total loans$756,452 $778,147 $801,300 $825,571 $856,012 
Total Nonperforming Loans(14)
Mortgage$16,077 $16,459 $18,145 $17,627 $17,656 
Commercial25,700 32,474 84,028 87,308 61,231 
Consumer3,740 3,798 3,837 4,378 4,194 
Auto16,919 14,580 14,934 20,750 15,962 
Total nonperforming loans$62,436 $67,311 $120,944 $130,063 $99,043 
Total Nonperforming Loan Rates
Mortgage1.18 %1.20 %1.32 %1.27 %1.26 %
Commercial0.68 %0.90 %2.36 %2.50 %1.81 %
Consumer0.54 %0.55 %0.57 %0.64 %0.61 %
Auto0.65 %0.56 %0.57 %0.79 %0.60 %
Total0.74 %0.81 %1.47 %1.59 %1.22 %
Total Loans Held for Investment
Mortgage$1,359,658 $1,367,206 $1,373,629 $1,390,346 $1,399,856 
Commercial3,789,686 3,619,221 3,553,096 3,490,169 3,384,404 
Consumer697,222 687,199 677,841 683,548 686,077 
Auto2,601,833 2,623,828 2,630,497 2,636,979 2,646,930 
Total loans$8,448,399 $8,297,454 $8,235,063 $8,201,042 $8,117,267 
(a) Refer to “(a)” in Table 1-1.



12

OFG Bancorp (NYSE: OFG)
Table 7: Allowance for Credit Losses
Quarter Ended September 30, 2026
(Dollars in thousands) (unaudited)MortgageCommercialConsumerAutoTotal
Allowance for credit losses Non-PCD:
Balance at beginning of period$6,314 $52,707 $33,757 $91,969 $184,747 
(Recapture of) provision for credit losses(3)(421)7,383 10,072 17,031 
Charge-offs(85)(594)(7,774)(16,110)(24,563)
Recoveries187 1,306 1,104 7,353 9,950 
Balance at end of period$6,413 $52,998 $34,470 $93,284 $187,165 
Allowance for credit losses PCD:
Balance at beginning of period$3,143 $354 $10 $1 $3,508 
(Recapture of) provision for credit losses(255)1,298 (16)(24)1,003 
Charge-offs— — — — — 
Recoveries100 15 14 24 153 
Balance at end of period$2,988 $1,667 $8 $1 $4,664 
Allowance for credit losses summary:
Balance at beginning of period$9,457 $53,061 $33,767 $91,970 $188,255 
(Recapture of) provision for credit losses(258)877 7,367 10,048 18,034 
Charge-offs(85)(594)(7,774)(16,110)(24,563)
Recoveries287 1,321 1,118 7,377 10,103 
Balance at end of period$9,401 $54,665 $34,478 $93,285 $191,829 
Allowance coverage ratio0.69 %1.44 %4.95 %3.59 %2.27 %

) Refer to “(c)” in Table 1-1.



13

OFG Bancorp (NYSE: OFG)
Table 8-1: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital
In addition to disclosing required regulatory capital measures, we also report certain non-GAAP capital measures that management uses in assessing its capital adequacy. These non-GAAP measures include tangible common equity ("TCE") and TCE ratio. The table below provides the details of the calculation of our regulatory capital and non-GAAP capital measures. While our non-GAAP capital measures are widely used by investors, analysts and bank regulatory agencies to assess the capital position of financial services companies, they may not be comparable to similarly titled measures reported by other companies.
20262026202620252025
(Dollars in thousands) (unaudited)Q3Q2Q1Q4Q3
Stockholders' Equity to Non-GAAP Tangible Common Equity
Total stockholders' equity$1,336,876$1,407,272$1,366,895$1,390,005$1,375,417
Less:  Intangible assets(91,139)(92,124)(93,110)(94,096)(95,327)
Tangible common equity (Non-GAAP)$1,245,737$1,315,148$1,273,785$1,295,909$1,280,090
Common shares outstanding at end of period42,00542,26542,25743,25744,265
Tangible book value per common share (Non-GAAP)$29.66 $31.12 $30.14 $29.96 $28.92 
Total Assets to Non-GAAP Tangible Assets
Total assets  $12,144,479$12,154,572$12,047,903$12,465,657$12,229,812
Less:  Intangible assets(91,139)(92,124)(93,110)(94,096)(95,327)
Tangible assets (Non-GAAP)$12,053,340$12,062,448$11,954,793$12,371,561$12,134,485
Non-GAAP TCE Ratio
Tangible common equity$1,245,737$1,315,148$1,273,785$1,295,909$1,280,090
Tangible assets12,053,34012,062,44811,954,79312,371,56112,134,485
TCE ratio10.34 %10.90 %10.66 %10.47 %10.55 %
Average Equity to Non-GAAP Average Tangible Common Equity
Average total stockholders' equity$1,418,891$1,403,137$1,406,938$1,394,097$1,361,055
Less:  Average intangible assets(91,489)(92,471)(93,460)(94,528)(95,756)
Average tangible common equity (Non-GAAP)$1,327,402$1,310,666$1,313,478$1,299,569$1,265,299




14

OFG Bancorp (NYSE: OFG)
Table 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures (Continued)
BASEL III
Standardized
20262026202620252025
(Dollars in thousands) (unaudited)Q3Q2Q1Q4Q3
Regulatory Capital Metrics
Common equity Tier 1 capital$1,390,580$1,359,866$1,312,874$1,318,632$1,313,558
Tier 1 capital1,390,5801,359,8661,312,8741,318,6321,313,558
Total risk-based capital(15)1,514,6801,481,5041,433,2711,437,5951,430,713
Risk-weighted assets9,863,7089,666,8529,550,8609,436,0109,298,556
Regulatory Capital Ratios
Common equity Tier 1 capital ratio(16)14.10 %14.07 %13.75 %13.97 %14.13 %
Tier 1 risk-based capital ratio(17)14.10 %14.07 %13.75 %13.97 %14.13 %
Total risk-based capital ratio(18)15.36 %15.33 %15.01 %15.24 %15.39 %
Leverage ratio(19)11.44 %11.23 %10.88 %10.71 %10.75 %
Common Equity Tier 1 Capital Ratio Under Basel III Standardized Approach
Total stockholders' equity$1,336,876$1,407,272$1,366,895$1,390,005$1,375,417
Plus: Unrealized losses on available-for-sale securities, net of
         income tax		139,16738,94633,57316,90627,301
Total adjusted stockholders’equity1,476,0431,446,2181,400,4681,406,9111,402,718
Less: Disallowed goodwill, net(79,132)(79,321)(79,764)(79,700)(79,889)
  Disallowed other intangible assets, net(6,331)(7,031)(7,729)(8,429)(9,271)
  Disallowed deferred tax assets, net——(101)(150)—
Common equity Tier 1 capital and Tier 1 capital1,390,5801,359,8661,312,8741,318,6321,313,558
Plus Tier 2 capital: Qualifying allowance for credit losses124,100121,638120,397118,963117,155
Total risk-based capital$1,514,680$1,481,504$1,433,271$1,437,595$1,430,713



15

OFG Bancorp (NYSE: OFG)
Table 9: Notes to Financial Summary, Selected Metrics, Loans, and Consolidated Financial Statements (Tables 1 - 8)
(1)Total banking and financial service revenues.
(2)Net interest income plus non-interest income, net (core)
(3)Calculated based on net income available to common shareholders divided by average common shares outstanding for the period.
(4)Calculated based on net income available to common shareholders divided by total average common shares outstanding and equivalents for the period as if converted.
(5)Tangible book value per common share is a non-GAAP measure calculated based on tangible common equity divided by common shares outstanding. See "Tables 8-1 and 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures" for additional information.
(6)Information includes all loans held for investment, including PCD loans.
(7)Calculated based on annualized net interest income for the period divided by average interest-earning assets for the period.
(8)Calculated based on annualized income, net of tax, for the period divided by average total assets for the period.
(9)Calculated based on annualized income available to common shareholders for the period divided by average tangible common equity for the period.
(10)Calculated based on non-interest expense for the period divided by total net interest income and total banking and financial services revenues for the period.
(11)Calculated based on annualized net charge-offs for the period divided by average loans held for investment for the period.
(12)Non-GAAP ratios. See "Tables 8-1 and 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures" for information on the calculation of each of these ratios.
(13)Production of new loans (excluding renewals).
(14)Most PCD loans are considered to be performing due to the application of the accretion method, in which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses. Therefore, they are not included as non-performing loans. PCD loan pools that are not accreting interest income are deemed to be non-performing loans and presented separately.
(15)Total risk-based capital equals the sum of Tier 1 capital and Tier 2 capital.
(16)Common equity Tier 1 capital ratio is a regulatory capital measure calculated based on Common equity Tier 1 capital divided by risk-weighted assets.
(17)Tier 1 risk-based capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets.
(18)Total risk-based capital ratio is a regulatory capital measure calculated based on Total risk-based capital divided by risk-weighted assets.
(19)Leverage capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by average assets, after certain adjustments.
(20)Pre-provision net revenues is a non-GAAP measure calculated based on net interest income plus total non-interest income, net, less total non-interest expenses for the period.
(21)Under the GNMA program, issuers such as OFG Bancorp have the option but not the obligation to repurchase loans that are 90 days or more past due. For accounting purposes, these loans subject to the repurchase option are required to be reflected (rebooked) on the financial statements of the Company with an offsetting liability.
16

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