Form 8-K

8-K — OFG BANCORP

Accession: 0001030469-26-000043

Filed: 2026-10-21

Period: 2026-10-21

CIK: 0001030469

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ofg-20261021.htm (Primary)

EX-99 (ofg-20263qexx99.htm)

GRAPHIC (ofg_colororange.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ofg-20261021.htm · Sequence: 1

ofg-20261021

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

001-12647 66-0538893

(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 class Trading Symbol(s) Name of each exchange on which registered

Common shares, par value $1.00 per share OFG New 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

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

EX-99

Filename: ofg-20263qexx99.htm · Sequence: 2

Document

Exhibit 99

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.

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.

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

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

Table 2:

Consolidated Statements of Operations

Table 3:

Consolidated Statements of Financial Condition

Table 4:

Information on Loan Portfolio and Production

Table 5:

Average Balances, Net Interest Income and Net Interest Margin

Table 6:

Loan Information and Performance Statistics

Table 7:

Allowance for Credit Losses

Table 8:

Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital

Table 9:

Notes to Financial Summary, Selected Metrics, Loans, and Consolidated Financial Statements (Tables 1-8)

OFG Bancorp (NYSE: OFG)

Table 1-1: Financial and Statistical Summary - Consolidated

2026

2025

(Dollars in thousands, except per share data) (unaudited)

Statement of Operations

Net interest income $ 153,570 $ 157,299 $ 153,813 $ 152,744 $ 154,724

Non-interest income, net (core) (1) 32,178 32,984 31,988 32,627 29,256

Total core revenues (2) 185,748 190,283 185,801 185,371 183,980

Non-interest expense 96,265 102,832 94,703 105,011 96,548

Pre-provision net revenues (20) 89,949 87,490 91,277 79,309 89,629

Total provision for credit losses 18,140 13,006 22,483 31,889 28,258

Net income before income taxes 71,809 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 stockholders 56,611 58,777 53,937 55,893 51,838

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 outstanding 42,191 42,261 42,786 43,649 44,430

Average common shares outstanding and equivalents 42,444 42,397 42,956 43,901 44,658

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 assets 11,648,826 11,582,521 11,633,354 11,827,933 11,715,599

Total assets 12,171,030 12,154,691 12,138,944 12,377,910 12,248,544

Core deposits 9,720,680 9,705,480 9,560,640 9,930,939 9,866,369

Total deposits 9,979,899 9,921,807 9,829,019 10,161,728 10,086,731

Interest-bearing deposits 7,223,019 7,172,785 7,171,589 7,541,276 7,498,818

Borrowings 581,461 579,724 660,300 555,820 548,832

Stockholders' equity 1,418,891 1,403,137 1,406,938 1,394,097 1,361,055

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 end 2,156 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 investment 2.27 % 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 ratio 11.44 % 11.23 % 10.88 % 10.71 % 10.75 %

Common equity Tier 1 capital ratio 14.10 % 14.07 % 13.75 % 13.97 % 14.13 %

Tier 1 risk-based capital ratio 14.10 % 14.07 % 13.75 % 13.97 % 14.13 %

Total risk-based capital ratio 15.36 % 15.33 % 15.01 % 15.24 % 15.39 %

Tangible common equity ("TCE") ratio 10.34 % 10.90 % 10.66 % 10.47 % 10.55 %

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) 2026 2025

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 expense 293,800 284,802

Pre-provision net revenues (21) 268,716 262,321

Total provision for credit losses 53,629 75,624

Net income before income taxes 215,087 186,697

Income tax expense 45,762 37,487

Net income available to common stockholders 169,325 149,210

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 outstanding 42,410 44,857

Average common shares outstanding and equivalents 42,620 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 assets 11,621,623 11,446,863

Total assets 12,155,006 11,957,028

Core deposits 9,662,855 9,743,039

Total deposits 9,910,797 9,945,348

Interest-bearing deposits 7,189,320 7,374,668

Borrowings 606,873 451,469

Stockholders' equity 1,409,699 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 end 2,156 2,217

Credit Quality Metrics

Allowance for credit losses $ 191,829 $ 197,782

Allowance as a % of loans held for investment 2.27 % 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 %

OFG Bancorp (NYSE: OFG)

Table 2-1: Consolidated Statements of Operations

Quarter Ended

(Dollars in thousands) (unaudited) September 30, 2026 June 30, 2026 March 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 loans 12,412 15,553 16,343 13,826 14,669

Total interest income from loans 160,406 162,415 158,554 158,211 161,334

Investment securities and cash 35,338 34,735 35,572 39,011 38,811

Total interest income 195,744 197,150 194,126 197,222 200,145

Interest expense:

Deposits

Core deposits 33,669 31,960 31,196 36,482 37,458

Brokered deposits 2,671 2,164 2,672 2,352 2,284

Total deposits 36,340 34,124 33,868 38,834 39,742

Borrowings 5,834 5,727 6,445 5,644 5,679

Total interest expense 42,174 39,851 40,313 44,478 45,421

Net interest income 153,570 157,299 153,813 152,744 154,724

Provision for credit losses, excluding PCD loans 17,137 14,825 22,942 33,643 27,591

Provision for (recapture of) credit losses on PCD loans 1,003 (1,819) (459) (1,754) 667

Total provision for credit losses 18,140 13,006 22,483 31,889 28,258

Net interest income after provision for credit losses 135,430 144,293 131,330 120,855 126,466

Non-interest income:

Banking service revenues 17,674 17,397 16,944 16,550 15,930

Wealth management revenues 9,367 9,727 8,913 11,378 9,014

Mortgage banking activities 5,137 5,860 6,131 4,699 4,312

Total banking and financial service revenues 32,178 32,984 31,988 32,627 29,256

Other income (loss), net 466 39 179 (1,051) 2,197

Total non-interest income, net 32,644 33,023 32,167 31,576 31,453

Non-interest expense:

Compensation and employee benefits 40,511 41,176 41,347 43,093 39,836

Occupancy, equipment and infrastructure costs 14,760 14,273 13,418 15,338 14,994

General and administrative expenses 40,898 47,859 40,052 46,371 42,239

Foreclosed real estate and other repossessed assets expense (income), net 96 (476) (114) 209 (521)

Total non-interest expense 96,265 102,832 94,703 105,011 96,548

Income before income taxes 71,809 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

OFG Bancorp (NYSE: OFG)

Table 2-2: Consolidated Statements of Operations (Continued)

(Dollars in thousands) (unaudited) Nine-month period ended September 30,

2026 2025

Interest income:

Loans

Non-PCD loans $ 437,067 $ 426,152

PCD loans 44,308 45,577

Total interest income from loans 481,375 471,729

Investment securities and cash 105,645 111,985

Total interest income 587,020 583,714

Interest expense:

Deposits

Core deposits 96,825 107,632

Brokered deposits 7,507 6,281

Total deposits 104,332 113,913

Borrowings 18,006 14,078

Total interest expense 122,338 127,991

Net interest income 464,682 455,723

Provision for credit losses, excluding PCD loans 54,904 73,411

(Recapture of) provision for credit losses on PCD loans (1,275) 2,213

Total provision for credit losses 53,629 75,624

Net interest income after provision for credit losses 411,053 380,099

Non-interest income:

Banking service revenues 52,015 47,893

Wealth management revenues 28,007 26,387

Mortgage banking activities 17,128 14,434

Total banking and financial service revenues 97,150 88,714

Other income, net 684 2,686

Total non-interest income, net 97,834 91,400

Non-interest expense:

Compensation and employee benefits 123,034 119,333

Occupancy, equipment and infrastructure costs 42,451 44,443

General and administrative expenses 128,809 120,209

Foreclosed real estate and other repossessed assets (income) expense, net (494) 817

Total non-interest expense 293,800 284,802

Income before income taxes 215,087 186,697

Income tax expense 45,762 37,487

Net income available to common shareholders $ 169,325 $ 149,210

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 securities 22 23 24 23 21

Investment securities available-for-sale, at fair value, no allowance for credit losses for any period

Mortgage-backed securities 2,397,434 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 securities 500 500 500 501 503

Total investment securities available-for-sale 2,400,058 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 securities 252,328 258,698 264,580 269,498 275,116

Other investment securities — — — — 35,000

Total investment securities held-to-maturity 252,328 258,698 264,580 269,498 310,116

Equity securities 64,727 64,817 63,682 62,738 61,906

Total investments 2,717,135 2,696,656 2,788,458 2,843,141 2,939,012

Loans, net 8,266,856 8,117,021 8,040,074 8,014,246 7,935,413

Other assets:

Prepaid expenses 30,921 25,687 17,050 20,415 150,461

Deferred tax asset, net 127,364 113,343 120,431 104,359 7,468

Foreclosed real estate and repossessed properties 6,296 5,870 6,347 5,947 8,025

Premises and equipment, net 96,538 95,601 92,731 93,554 100,760

Goodwill 84,241 84,241 84,241 84,241 84,241

Other intangibles 6,898 7,884 8,869 9,854 11,086

Right of use assets 22,815 19,640 20,275 21,261 22,694

Servicing asset 68,542 67,867 67,228 66,333 67,437

Accounts receivable and other assets 150,100 175,056 165,700 161,971 162,866

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 accounts 2,276,934 2,358,067 2,367,531 2,259,980 2,208,212

Time deposits 2,636,195 2,498,777 1,943,866 1,862,793 1,819,397

Brokered deposits 324,564 238,880 189,898 339,994 189,065

Total deposits 9,988,919 9,983,128 9,849,272 10,262,752 10,008,633

Borrowings:

Securities sold under agreements to repurchase 200,673 100,085 100,086 100,714 100,791

Advances from FHLB and other borrowings 401,361 456,530 456,581 456,590 456,530

Total borrowings 602,034 556,615 556,667 557,304 557,321

Other liabilities:

Acceptances outstanding 23,734 19,418 22,665 22,442 29,975

Lease liability 24,505 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 liabilities 108,964 113,210 175,621 153,505 136,771

Total liabilities 10,807,603 10,747,300 10,681,008 11,075,652 10,854,395

Stockholders' equity:

Common stock 59,885 59,885 59,885 59,885 59,885

Additional paid-in capital 643,653 642,019 640,656 642,973 641,350

Legal surplus 204,892 199,429 193,787 188,490 183,614

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' equity 1,336,876 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

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 PR 2,859,805 2,679,280 2,611,166 2,586,305 2,469,925

Commercial US 862,850 871,454 871,640 829,975 831,731

Consumer 696,959 686,883 677,535 683,246 685,740

Auto 2,601,770 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, net 7,504,782 7,334,560 7,233,652 7,177,232 7,071,554

PCD:

Mortgage 689,095 709,278 730,629 751,291 772,808

Commercial PR 67,031 68,487 70,290 73,889 82,748

Consumer 263 316 306 302 337

Auto 63 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, net 751,788 774,639 797,455 821,469 847,931

Total loans held for investment 8,256,570 8,109,199 8,031,107 7,998,701 7,919,485

Mortgage loans held for sale 10,286 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 PR 2,926,836 2,747,767 2,681,456 2,660,194 2,552,673

Commercial US 862,850 871,454 871,640 829,975 831,731

Consumer 697,222 687,199 677,841 683,548 686,077

Auto 2,601,833 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, net 8,256,570 8,109,199 8,031,107 7,998,701 7,919,485

Mortgage loans held for sale 10,286 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 Ended Nine-month period ended September 30,

(Dollars in thousands) (unaudited) September 30, 2026

June 30, 2026

March 31, 2026

December 31, 2025

September 30, 2025

2026 2025

Loan production (13)

Mortgage $ 49,805 $ 55,565 $ 41,948 $ 44,593 $ 42,392 $ 147,318 $ 134,981

Commercial PR 258,015 333,408 200,441 201,974 216,560 791,864 633,666

Commercial US 121,763 95,335 102,733 111,896 116,368 319,831 321,500

Consumer 87,708 82,287 68,481 68,204 76,027 238,476 220,643

Auto 176,534 188,440 195,256 178,928 172,558 560,230 655,724

Total $ 693,825 $ 755,035 $ 608,859 $ 605,595 $ 623,905 $ 2,057,719 $ 1,966,514

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 securities 2,722,141 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 loans 7,519,777 147,994 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 loans 762,879 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 loans 8,282,656 160,406 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 accounts 2,333,667 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 deposits 2,553,623 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 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 %

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 accounts 2,756,880 — — 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 deposits 9,979,899 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 repurchase 134,360 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 borrowings 447,101 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 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 %

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 margin 5.23 % 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 accounts 2,333,667 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 deposits 2,553,623 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 accounts 2,756,880 — — 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 %

OFG Bancorp (NYSE: OFG)

Table 5-2: Average Balances, Net Interest Income and Net Interest Margin (Continued)

Nine-month period ended September 30,

2026 2025

(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 securities 2,749,370 88,438 4.29 % 2,787,888 89,036 4.26 %

Loans held for investment

Non-PCD loans 7,446,489 437,067 7.85 % 7,054,829 426,152 8.08 %

PCD loans 785,849 44,308 7.52 % 895,224 45,577 6.79 %

Total loans 8,232,338 481,375 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 accounts 2,333,056 18,988 1.09 % 2,143,116 16,415 1.02 %

Time deposits 2,180,119 50,735 3.11 % 1,824,830 42,099 3.08 %

Brokered deposits 247,942 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 accounts 2,721,477 — — % 2,570,680 — — %

Fair value premium and core deposit intangible amortization — 2,264 — — 2,830 —

Total deposits 9,910,797 104,332 1.41 % 9,945,348 113,913 1.53 %

Borrowings

Securities sold under agreements to repurchase 153,585 4,154 3.62 % 55,800 1,816 4.35 %

Advances from FHLB and other borrowings 453,288 13,852 4.09 % 395,669 12,262 4.14 %

Total borrowings 606,873 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 margin 5.35 % 5.32 %

Core deposits: (Non-GAAP)

NOW accounts $ 2,428,203 $ 24,838 1.37 % $ 3,204,413 $ 46,288 1.93 %

Savings accounts 2,333,056 18,988 1.09 % 2,143,116 16,415 1.02 %

Time deposits 2,180,119 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 accounts 2,721,477 — — % 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 %

OFG Bancorp (NYSE: OFG)

Table 6-1: Loan Information and Performance Statistics

2026 2026 2026 2025 2025

(Dollars in thousands) (unaudited) Q3 Q2 Q1 Q4 Q3

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-offs 295 15,225 75 6,012 1,446

Recoveries (169) (173) (52) (1,275) (922)

Total commercial PR 126 15,052 23 4,737 524

Commercial US:

Charge-offs 299 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-offs 7,774 7,766 8,819 9,023 7,704

Recoveries (1,104) (1,112) (1,068) (964) (896)

Total consumer 6,670 6,654 7,751 8,059 6,808

Auto:

Charge-offs 16,110 14,420 18,159 19,002 16,743

Recoveries (7,353) (7,141) (8,159) (7,070) (7,108)

Total auto 8,757 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 PR 0.02 % 2.01 % — % 1.11 % 0.10 %

Commercial US (0.39) % 0.71 % 1.85 % 0.01 % 1.74 %

Consumer 3.73 % 3.78 % 4.40 % 4.55 % 3.85 %

Auto 1.34 % 1.11 % 1.52 % 1.81 % 1.45 %

Total 0.70 % 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 PR 2,793,499 2,726,998 2,654,345 2,596,971 2,536,829

Commercial US 859,828 876,561 849,850 834,224 836,527

Consumer 714,478 702,519 704,872 707,401 705,945

Auto 2,613,059 2,626,511 2,636,122 2,637,378 2,656,992

Total $ 8,282,656 $ 8,245,654 $ 8,167,438 $ 8,117,032 $ 8,098,058

OFG Bancorp (NYSE: OFG)

Table 6-2: Loan Information and Performance Statistics (Excludes PCD Loans)

2026 2026 2026 2025 2025

(Dollars in thousands) (unaudited) Q3 Q2 Q1 Q4 Q3

Early Delinquency (30 - 89 days past due)

Mortgage $ 10,224 $ 11,258 $ 8,287 $ 10,709 $ 11,474

Commercial 3,678 6,308 4,309 2,004 9,423

Consumer 14,969 13,410 13,615 15,341 15,000

Auto 175,187 157,876 138,020 178,100 170,075

Total $ 204,058 $ 188,852 $ 164,231 $ 206,154 $ 205,972

Early Delinquency Rates (30 - 89 days past due)

Mortgage 1.52 % 1.71 % 1.29 % 1.68 % 1.83 %

Commercial 0.10 % 0.18 % 0.12 % 0.06 % 0.29 %

Consumer 2.15 % 1.95 % 2.01 % 2.25 % 2.19 %

Auto 6.73 % 6.02 % 5.25 % 6.75 % 6.43 %

Total 2.65 % 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 mortgage 79,553 74,368 74,550 78,738 69,373

Commercial 10,284 12,777 8,052 11,534 20,592

Consumer 18,661 17,139 17,343 19,519 18,942

Auto 191,992 172,395 152,912 198,779 185,964

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 Mitigation 3.11 % 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 mortgage 11.86 % 11.30 % 11.59 % 12.32 % 11.06 %

Commercial 0.28 % 0.36 % 0.23 % 0.34 % 0.62 %

Consumer 2.68 % 2.50 % 2.56 % 2.86 % 2.76 %

Auto 7.38 % 6.57 % 5.81 % 7.54 % 7.03 %

Total 3.91 % 3.68 % 3.40 % 4.18 % 4.06 %

Nonperforming Assets (14)

Mortgage $ 15,860 $ 16,238 $ 17,921 $ 17,400 $ 17,426

Commercial 25,700 32,474 84,004 87,253 53,428

Consumer 3,740 3,798 3,837 4,378 4,194

Auto 16,919 14,580 14,934 20,750 15,962

Total nonperforming loans 62,219 67,090 120,696 129,781 91,010

Foreclosed real estate 1,615 1,675 2,037 2,490 3,160

Other repossessed assets 4,681 4,195 4,310 3,457 4,865

Total nonperforming assets $ 68,515 $ 72,960 $ 127,043 $ 135,728 $ 99,035

Nonperforming Loan Rates

Mortgage 2.37 % 2.47 % 2.79 % 2.72 % 2.78 %

Commercial 0.69 % 0.91 % 2.41 % 2.55 % 1.62 %

Consumer 0.54 % 0.55 % 0.57 % 0.64 % 0.61 %

Auto 0.65 % 0.56 % 0.57 % 0.79 % 0.60 %

Total loans 0.81 % 0.89 % 1.62 % 1.76 % 1.25 %

OFG Bancorp (NYSE: OFG)

Table 6-3: Loan Information and Performance Statistics

2026 2026 2026 2025 2025

(Dollars in thousands) (unaudited) Q3 Q2 Q1 Q4 Q3

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

Mortgage 0.03 % 0.03 % 0.03 % 0.03 % 0.03 %

Commercial 0.00 % 0.00 % 0.03 % 0.07 % 9.43 %

Total 0.03 % 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

Commercial 67,031 68,487 70,290 73,889 82,748

Consumer 263 316 306 302 337

Auto 63 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

Commercial 25,700 32,474 84,028 87,308 61,231

Consumer 3,740 3,798 3,837 4,378 4,194

Auto 16,919 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

Mortgage 1.18 % 1.20 % 1.32 % 1.27 % 1.26 %

Commercial 0.68 % 0.90 % 2.36 % 2.50 % 1.81 %

Consumer 0.54 % 0.55 % 0.57 % 0.64 % 0.61 %

Auto 0.65 % 0.56 % 0.57 % 0.79 % 0.60 %

Total 0.74 % 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

Commercial 3,789,686 3,619,221 3,553,096 3,490,169 3,384,404

Consumer 697,222 687,199 677,841 683,548 686,077

Auto 2,601,833 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.

OFG Bancorp (NYSE: OFG)

Table 7: Allowance for Credit Losses

Quarter Ended September 30, 2026

(Dollars in thousands) (unaudited) Mortgage Commercial Consumer Auto Total

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)

Recoveries 187 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 — — — — —

Recoveries 100 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)

Recoveries 287 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 ratio 0.69 % 1.44 % 4.95 % 3.59 % 2.27 %

) Refer to “(c)” in Table 1-1.

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.

2026 2026 2026 2025 2025

(Dollars in thousands) (unaudited) Q3 Q2 Q1 Q4 Q3

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 period 42,005 42,265 42,257 43,257 44,265

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 assets 12,053,340 12,062,448 11,954,793 12,371,561 12,134,485

TCE ratio 10.34 % 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

OFG Bancorp (NYSE: OFG)

Table 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures (Continued)

BASEL III

Standardized

2026 2026 2026 2025 2025

(Dollars in thousands) (unaudited) Q3 Q2 Q1 Q4 Q3

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 capital 1,390,580 1,359,866 1,312,874 1,318,632 1,313,558

Total risk-based capital (15) 1,514,680 1,481,504 1,433,271 1,437,595 1,430,713

Risk-weighted assets 9,863,708 9,666,852 9,550,860 9,436,010 9,298,556

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 139,167 38,946 33,573 16,906 27,301

Total adjusted stockholders’equity 1,476,043 1,446,218 1,400,468 1,406,911 1,402,718

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 capital 1,390,580 1,359,866 1,312,874 1,318,632 1,313,558

Plus Tier 2 capital: Qualifying allowance for credit losses 124,100 121,638 120,397 118,963 117,155

Total risk-based capital $ 1,514,680 $ 1,481,504 $ 1,433,271 $ 1,437,595 $ 1,430,713

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.

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