Every material Form 8-K OFG Bancorp has filed with the SEC since October 20, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
OFG Bancorp reported third-quarter 2026 results for the period ended September 30, 2026, with diluted EPS of $1.33, up from $1.16 in 3Q25 but down from $1.39 in 2Q26. Total core revenues were $185.7 million, versus $190.3 million in the prior quarter and $184.0 million a year earlier, and the company repurchased $13.5 million of common shares. The mixed picture matters to shareholders because year-over-year profit and revenue gains were offset by sequential declines, and tangible book value per share fell to $29.66 from $31.12 in 2Q26.
Diluted EPS $1.33 vs $1.39 in 2Q26 and $1.16 in 3Q25
Total core revenues $185.7 million vs $190.3 million in 2Q26 and $184.0 million in 3Q25
Non-interest expense $96.3 million vs $102.8 million in 2Q26, which included $5.8 million of business related operational charges
Tangible book value per share $29.66 vs $31.12 in 2Q26; $13.5 million of common shares repurchased
OFG Bancorp reported results for the quarter ended June 30, 2026, in a press release furnished as Exhibit 99 to this Form 8-K. Diluted earnings per share were $1.39, up from $1.26 in the first quarter and $1.15 in the second quarter of 2025, and total core revenues rose to $190.3 million. Non-interest expense also increased, to $102.8 million, and net charge-offs rose to $28.8 million.
Diluted EPS of $1.39 compared with $1.26 in 1Q26 and $1.15 in 2Q25
Total core revenues of $190.3 million compared with $185.8 million in 1Q26 and $182.2 million in 2Q25
Non-interest expense of $102.8 million compared with $94.7 million in 1Q26; provision for credit losses fell to $13.0 million from $22.5 million
Net charge-offs of $28.8 million (1.40% of average loans) compared with $21.4 million (1.05%) in 1Q26
OFG Bancorp reported first-quarter 2026 results for the quarter ended March 31, 2026, with diluted EPS of $1.26 and total core revenues of $185.8 million. Both figures are up from $1.00 and $178.3 million a year earlier but slightly below the fourth quarter of 2025, when diluted EPS was $1.27. The company also said it repurchased $44.5 million of common shares and raised its dividend by 17%.
Diluted EPS was $1.26, versus $1.27 in 4Q25 and $1.00 in 1Q25.
Total core revenues were $185.8 million, versus $185.4 million in 4Q25 and $178.3 million in 1Q25.
Non-interest expense was $94.7 million, down from $105.0 million in 4Q25.
The company repurchased $44.5 million of common shares and increased its dividend by 17% during the quarter.
OFG Bancorp reported fourth-quarter 2025 results, with diluted EPS of $1.27 versus $1.09 in 4Q24 and $1.16 in 3Q25, and total core revenues of $185.4 million versus $181.9 million a year earlier. For full year 2025, diluted EPS was $4.58 versus $4.23 in 2024, and core revenues were $729.8 million versus $709.6 million. Management attributed the quarter's EPS growth partly to a favorable tax benefit, and non-interest expense and credit losses rose.
4Q25 diluted EPS of $1.27, up from $1.16 in 3Q25 and $1.09 in 4Q24
4Q25 income tax was a benefit of $8.5 million, including $16.8 million in discrete tax benefits
Non-interest expense rose to $105.0 million from $96.5 million in 3Q25; provision for credit losses was $31.9 million
Share repurchases totaled $40.1 million in 4Q25 and $91.6 million for the full year 2025
OFG Bancorp reported results for the quarter ended September 30, 2025, with diluted EPS of $1.16, up from $1.15 in the prior quarter and $1.00 a year earlier. Total core revenues rose to $184.0 million from $174.1 million in the year-earlier quarter, while credit provisions and net charge-offs increased from the prior quarter, which shareholders should weigh alongside the profit gain.
Diluted EPS of $1.16 vs. $1.15 in 2Q25 and $1.00 in 3Q24; the CEO said EPS grew 16% year-over-year
Total core revenues of $184.0 million vs. $182.2 million in 2Q25 and $174.1 million in 3Q24
Total provision for credit losses of $28.3 million vs. $21.7 million in 2Q25; net charge-offs of $20.2 million (1.00% of average loans)
Company repurchased 477,600 common shares for $20.4 million in the quarter; tangible book value per share was $28.92
OFG Bancorp reported results for the quarter ended June 30, 2025, in a press release furnished under Item 2.02. Diluted EPS was $1.15, up from $1.00 in the first quarter of 2025 and $1.08 in the second quarter of 2024, and total core revenues rose to $182.2 million. For shareholders, the quarter shows higher earnings and revenue than both comparison periods, although the CET1 capital ratio declined from the prior quarter.
Diluted EPS of $1.15 for Q2 2025, compared with $1.00 in Q1 2025 and $1.08 in Q2 2024
Total core revenues of $182.2 million, compared with $178.3 million in Q1 2025 and $179.4 million in Q2 2024
Net income available to common stockholders of $51.8 million, compared with $45.6 million in Q1 2025
CET1 capital ratio of 13.99%, down from 14.27% in Q1 2025; tangible book value per share rose to $27.67 from $26.66
OFG Bancorp reported first-quarter 2025 results for the period ended March 31, 2025, with diluted earnings per share of $1.00, down from $1.09 in the fourth quarter of 2024 and $1.05 a year earlier. Total core revenues were $178.3 million, compared with $181.9 million in the fourth quarter and $174.2 million a year earlier. The company also repurchased $23.4 million of common shares and raised its quarterly common dividend from $0.25 to $0.30 per share, which shareholders will weigh against the lower earnings.
Diluted EPS was $1.00, versus $1.09 in 4Q24 and $1.05 in 1Q24.
Total core revenues were $178.3 million, versus $181.9 million in 4Q24 and $174.2 million in 1Q24.
Net income available to common stockholders was $45.6 million, versus $50.3 million in 4Q24 and $49.7 million in 1Q24.
The company repurchased $23.4 million of common shares and increased the common dividend 20%; CET1 ratio was 14.27% at March 31, 2025.
OFG Bancorp reported fourth-quarter 2024 results, with diluted EPS of $1.09 versus $1.00 in the third quarter and $0.98 in the fourth quarter of 2023. Total core revenues were $181.9 million, up from $174.1 million in the third quarter, and full-year 2024 diluted EPS was $4.23 versus $3.83 in 2023. For shareholders, both quarterly and annual earnings and revenue measures improved, though provision for credit losses and non-interest expense both rose from the prior quarter.
4Q24 diluted EPS was $1.09, compared with $1.00 in 3Q24 and $0.98 in 4Q23.
Total core revenues were $181.9 million in 4Q24, compared with $174.1 million in 3Q24 and $175.6 million in 4Q23.
Total provision for credit losses was $30.2 million in 4Q24, compared with $21.4 million in 3Q24.
Common shares worth $45.9 million were repurchased in 4Q24, leaving $29.7 million in repurchase authorization as of December 31, 2024.
OFG Bancorp said its Chief Strategy Officer, U.S. Business, Ganesh Kumar, will retire effective December 2, 2024, under a separation agreement signed October 18, 2024. The agreement provides a $1,353,413 severance payment and continued healthcare coverage, and it changes the vesting and settlement terms of some of his equity awards.
Ganesh Kumar, with the company for 20 years, retires as Chief Strategy Officer, U.S. Business, effective December 2, 2024.
Severance is a lump-sum cash payment of $1,353,413, due within seven days of the effective date.
Restricted units will not be forfeited on his departure, and prorated performance shares will settle at the estimated attainment level as of the most recent calendar quarter-end.
The full separation agreement will be filed with the Form 10-K for the fiscal year ending December 31, 2024.
OFG Bancorp reported third-quarter 2024 results for the period ended September 30, 2024, with diluted EPS of $1.00, up from $0.95 in the third quarter of 2023 but down from $1.08 in the second quarter of 2024. Total core revenues were $174.1 million, up from $172.2 million a year earlier and down from $179.4 million in the prior quarter, so shareholders see year-over-year gains alongside a sequential decline.
Diluted EPS of $1.00 compared with $1.08 in 2Q24 and $0.95 in 3Q23; the company reported EPS up 5.3% year over year.
Total core revenues of $174.1 million compared with $179.4 million in 2Q24 and $172.2 million in 3Q23.
Net income available to common stockholders of $47.0 million compared with $51.1 million in 2Q24; total provision for credit losses rose to $21.4 million from $15.6 million.
Tangible book value per share increased to $26.15 from $24.18 in 2Q24; the CET1 ratio was 14.37%.
OFG Bancorp's board elected two new directors, Lynda Grindstaff and Roberto García, effective immediately on September 20, 2024. The board said the additions bring experienced members from different backgrounds, and the filing names their committee assignments.
Lynda Grindstaff and Roberto García were elected to the board on September 20, 2024, effective immediately.
Ms. Grindstaff joined the Risk and Compliance Committee.
Mr. García joined the Audit Committee and the Corporate Governance and Nominating Committee.
Their compensation will follow the non-executive director program described in the proxy statement.
OFG Bancorp reported second-quarter 2024 results for the period ended June 30, 2024, with diluted earnings per share of $1.08, up from $1.05 in the first quarter and $0.93 a year earlier. Total core revenues were $179.4 million, compared with $174.2 million in the first quarter and $170.5 million a year earlier, so both headline profit and revenue measures improved.
Diluted EPS of $1.08, versus $1.05 in 1Q24 and $0.93 in 2Q23
Total core revenues of $179.4 million, versus $174.2 million in 1Q24 and $170.5 million in 2Q23
Net charge-offs of $15.0 million, down from $19.8 million in 1Q24; the company bought $24.3 million of its shares under a $50 million buyback program
OFG Bancorp reported first-quarter 2024 results for the period ended March 31, 2024. Diluted earnings per share were $1.05, up from $0.98 in the fourth quarter of 2023 and $0.96 in the first quarter of 2023, while total core revenues were $174.2 million, down from $175.6 million sequentially but up from $164.4 million a year earlier. The results show higher earnings per share year over year, although sequential revenue and pre-provision net revenues declined.
Diluted EPS was $1.05 versus $0.98 in 4Q23 and $0.96 in 1Q23.
Total core revenues were $174.2 million, compared with $175.6 million in 4Q23 and $164.4 million in 1Q23.
Pre-provision net revenues were $83.0 million, compared with $88.2 million in 4Q23 and $74.6 million in 1Q23.
Net charge-offs were $19.8 million, compared with $16.3 million in 4Q23 and $10.1 million in 1Q23.
OFG Bancorp reported fourth-quarter 2023 results, with diluted earnings per share of $0.98 compared with $0.95 in the prior quarter and $0.97 a year earlier. Total core revenues rose to $175.6 million from $172.2 million in 3Q23 and $168.3 million in 4Q22, and full-year 2023 diluted EPS was $3.83 versus $3.44 in 2022. The filing contains results only and gives no guidance for future periods.
4Q23 diluted EPS $0.98 vs. $0.95 in 3Q23 and $0.97 in 4Q22
4Q23 total core revenues $175.6 million vs. $172.2 million in 3Q23
Full-year 2023 diluted EPS $3.83 vs. $3.44 in 2022; total core revenues $682.7 million vs. $607.8 million
4Q23 included a $6.3 million pre-tax gain on sale of non-performing loans and $3.2 million in severance and lease cancellation costs
OFG Bancorp entered into a new three-year employment agreement with CEO and Vice Chairperson José Rafael Fernández, effective January 1, 2024, through December 31, 2026, replacing his July 2021 agreement. The filing sets his base salary at $981,750 and grants him a special long-term incentive award tied to the December 20, 2023 closing stock price, which matters to shareholders because it defines executive pay and severance obligations.
Base salary of $981,750, with a target bonus equal to 100% of base salary
Special long-term award of 40,442.17 restricted stock units and 40,442.17 performance stock units
Severance on termination without just cause or for good reason: three times the sum of base salary and average cash bonus over the last two fiscal years, paid as a lump sum
OFG Bancorp reported results for the quarter ended September 30, 2023, in a press release furnished under Item 2.02 of a Form 8-K dated October 20, 2023. Diluted EPS was $0.95, up from $0.87 in 3Q22 and $0.93 in 2Q23, and total core revenues rose 10% year over year to $172.2 million, so headline profit and revenue both improved. Credit costs rose, with net charge-offs of $18.8 million and a provision for credit losses of $16.4 million, compared with $11.3 million and $7.1 million in 3Q22.
Diluted EPS of $0.95 vs. $0.87 in 3Q22 and $0.93 in 2Q23
Total core revenues of $172.2 million vs. $156.8 million in 3Q22
Net charge-offs of $18.8 million vs. $11.3 million in 3Q22; provision for credit losses of $16.4 million vs. $7.1 million
Net interest margin of 5.80% vs. 5.23% in 3Q22; CET1 ratio of 14.03%
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