OFG Bancorp Q1 FY26 net income rises 18.4% to $53.94 million

OFG Bancorp

OFG Bancorp

OFG

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  • OFG Bancorp posted Q1 net income available to common shareholders of USD 53.94 million, up 18.4%, with diluted EPS of USD 1.26, up 26%.
  • Total core revenues rose 4.2% to USD 185.8 million, while net interest income increased 3.2% to USD 153.81 million as net interest margin narrowed 6 basis points to 5.36%.
  • Provision for credit losses fell 12.5% to USD 22.48 million, with net charge-offs of USD 21.4 million holding at 1.05% of average loans.
  • Customer deposits declined to USD 9.66 billion on a USD 500 million government demand deposit transfer into a wealth management account, while loans held-for-investment edged up to USD 8.24 billion.
  • Board raised quarterly dividend to USD 0.35 per share, launched a new USD 200 million stock repurchase program, and the company bought back USD 44.5 million of shares in the quarter.


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