Form 8-K

8-K — OFG BANCORP

Accession: 0001030469-26-000022

Filed: 2026-04-21

Period: 2026-04-21

CIK: 0001030469

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ofg-20260421.htm (Primary)

EX-99 (ofg-20261qexx99.htm)

GRAPHIC (ofgbancorplogo.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ofg-20260421.htm · Sequence: 1

ofg-20260421

0001030469FALSE00010304692026-04-212026-04-21

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): April 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 April 21, 2026, OFG Bancorp (the “Company”) announced the results for the quarter ended March 31, 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 April 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: April 21, 2026

By: /s/ Maritza Arizmendi

Maritza Arizmendi

Chief Financial Officer

EX-99

Filename: ofg-20261qexx99.htm · Sequence: 2

Document

Exhibit 99

OFG Bancorp Reports 1Q26 Results

SAN JUAN, Puerto Rico, April 21, 2026 – OFG Bancorp (NYSE: OFG), the financial holding company for Oriental Bank, today reported results for the first quarter ended March 31, 2026. EPS diluted of $1.26 compared to $1.27 in 4Q25 and $1.00 in 1Q25. Total core revenues of $185.8 million compared to $185.4 million in 4Q25 and $178.3 million in 1Q25.

CEO Comment

José Rafael Fernández, Chief Executive Officer, said: “Business momentum and disciplined strategy execution drove strong first quarter results, supported by proactive balance sheet management and core deposit strength. Our operating model continues to deliver, with ongoing loan growth, high quality credit performance, and consistent execution across the franchise. During the quarter, we repurchased $44.5 million of common shares and increased our dividend by 17%, reinforcing our commitment to capital management and shareholder returns.”

“Our positioning as a digital bank that values personal connections continues to deliver tangible results. Increased use of our Libre and Elite retail products, as well as My Biz commercial accounts, contributed to deposit expansion and greater customer engagement and growth. This progress has enabled us to further optimize our funding mix and reduce reliance on wholesale funding, even amid the normalization of government deposits.”

“Puerto Rico’s economy is stable, with federal reconstruction funds and private investment supporting continued activity, particularly in manufacturing and onshoring. This environment, combined with our focus on operational excellence, positions us well to continue to deliver solid financial performance and to take advantage of long-term growth prospects.”

1Q26 Highlights

Performance Metrics: Net interest margin of 5.36%, return on average assets of 1.78%, return on average tangible common stockholders’ equity of 16.43%, and efficiency ratio of 50.97%.

Total Interest Income of $194.1 million compared to $197.2 million in 4Q25 and $189.2 million in 1Q25. Compared to 4Q25, 1Q26 decreased $3.1 million, reflecting lower average balances of cash and investment securities at lower average rates, partially offset by higher average balances of loans at higher average rates. 1Q26 included $3.3 million from a paid in full PCD loan. Compared to 4Q25, 1Q26 also reflected two fewer business days, which negatively affected interest income by approximately $3.1 million.

Total Interest Expense of $40.3 million compared to $44.5 million in 4Q25 and $40.2 million in 1Q25. Compared to 4Q25, 1Q26 decreased $4.2 million, reflecting lower average balances of deposits at lower average rates, partially offset by higher average balances of borrowings at lower average rates. Compared to 4Q25, 1Q26 also reflected two fewer business days, which reduced interest expense by approximately $1.0 million.

Total Banking & Financial Service Revenues of $32.0 million compared to $32.6 million in 4Q25 and $29.2 million in 1Q25. 1Q26 included favorable MSR valuation of approximately $1.3 million, while 4Q25 included $2.3 million in annual insurance commission recognition.

Pre-Provision Net Revenues of $91.3 million compared to $79.3 million in 4Q25 and $85.1 million in 1Q25.

Other Income was $0.2 million compared to a loss of $1.1 million in 4Q25. 1Q26 increased $1.3 million, reflecting the absence of previously reported items in 4Q25.

Total Provision for Credit Losses of $22.5 million compared to $31.9 million in 4Q25 and $25.7 million in 1Q25. 1Q26 primarily reflected $17.5 million for increased loan volume and increased allowance of $3.7 million for a previously reserved commercial loan and $1.0 million related to newly classified small commercial loans.

Credit Quality: Net charge-offs of $21.4 million (1.05% of average loans) compared to $26.9 million (1.32%) in 4Q25 and $20.4 million (1.05%) in 1Q25. 1Q26 NCOs decreased $5.5 million from 4Q25. 1Q26 reflected $3.9 million for a previously reserved U.S. loan and improved auto and commercial NCOs, while 4Q25 included $4.8 million from a sale of non-performing loans. 1Q26 early and total delinquency rates at 2.21% and 3.40%, respectively, declined from 4Q25, as well as the nonperforming loan rate at 1.47%.

Total Non-Interest Expense of $94.7 million compared to $105.0 million in 4Q25 and $93.5 million in 1Q25. 1Q26 included $1.0 million in merit raises, $0.7 million in seasonal FICA costs, $1.0 million costs related to a capital markets readiness and registration process, $3.6 million in business related volume incentive payment (compared to $3.1 million in 1Q25), and $2.5 million in planned cost-savings. 4Q25 included a net $6.8 million in previously reported expense items.

Income Tax Expense was $14.9 million compared to a benefit of $8.5 million in 4Q25 and an expense of $13.9 million in 1Q25. 1Q26 ETR was 21.60%, reflecting an anticipated rate of 22.34% for the year, the benefit of some discrete items, and the absence of $16.8 million in previously reported tax benefits in 4Q25.

Loans Held for Investment (EOP) of $8.24 billion compared to $8.20 billion in 4Q25 and $7.85 billion in 1Q25. 1Q26 loans increased $34.0 million or 0.4% sequentially, reflecting increases in U.S. and Puerto Rico commercial loans, partially offset by lower balances in residential mortgage, auto and consumer.

New Loan Production of $608.9 million compared to $605.6 million in 4Q25 and $558.9 million in 1Q25. Compared to 4Q25, 1Q26 increased marginally, mainly due to auto. Year-over-year, production increased 8.9%, primarily reflecting increases in commercial while auto moderated as anticipated.

Total Investments (EOP) of $2.79 billion compared to $2.84 billion in 4Q25 and $2.79 billion in 1Q25. Compared to 4Q25, 1Q26 reflected principal paydowns and maturities, partially offset primarily by $49.2 million in mortgage-backed securities purchases and $23.5 million in residential mortgage securitizations.

Customer Deposits (EOP) of $9.66 billion compared to $9.92 billion in 4Q25 and $9.76 billion in 1Q25. Deposits decreased $263.4 million sequentially, reflecting the previously announced $500 million transfer of a government demand deposit into a wealth management account in early 1Q26, which was partially offset by retail and commercial deposit growth.

Total Borrowings & Brokered Deposits (EOP) of $746.6 million compared to $897.3 million in 4Q25 and $421.5 million in 1Q25. Compared to 4Q25, 1Q26 total borrowings and brokered deposits declined $150.7 million, reflecting maturities.

Cash & Cash Equivalents (EOP) of $636.5 million compared to $1.04 billion in 4Q25 and $710.6 million in 1Q25. Compared to 4Q25, 1Q26 cash declined $403.8 million primarily due to the previously mentioned government deposit transfer to wealth management.

Capital: CET1 ratio was 13.75% compared to 13.97% in 4Q25 and 14.27% in 1Q25. Tangible Common Equity ratio was 10.66% compared to 10.47% in 4Q25 and 10.30% in 1Q25. Tangible Book Value per share was $30.14 compared to $29.96 in 4Q25 and $26.66 in 1Q25.

Conference Call, Financial Supplement & Presentation

A conference call to discuss 1Q26 results, outlook and related matters will be held today at 10:00 AM ET. Phone (800) 579-2543 or (785) 424-1789. Conference ID: OFGQ126. 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 March 31, 2026, and the 1Q26 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 March 31, 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 $ 153,813 $ 152,744 $ 154,724 $ 151,928 $ 149,071

Non-interest income, net (core) (1) 31,988 32,627 29,256 30,246 29,212

Total core revenues (2) 185,801 185,371 183,980 182,174 178,283

Non-interest expense 94,703 105,011 96,548 94,802 93,452

Pre-provision net revenues (20) 91,277 79,309 89,629 87,556 85,136

Total provision for credit losses 22,483 31,889 28,258 21,678 25,688

Net income before income taxes 68,794 47,420 61,371 65,878 59,448

Income tax expense (benefit) 14,857 (8,473) 9,533 14,078 13,876

Net income available to common stockholders 53,937 55,893 51,838 51,800 45,572

Common Share Statistics

Earnings per common share - basic (3) $ 1.26 $ 1.28 $ 1.17 $ 1.15 $ 1.01

Earnings per common share - diluted (4) $ 1.26 $ 1.27 $ 1.16 $ 1.15 $ 1.00

Average common shares outstanding 42,786 43,649 44,430 44,854 45,295

Average common shares outstanding and equivalents 42,956 43,901 44,658 45,033 45,509

Cash dividends per common share $ 0.35 $ 0.30 $ 0.30 $ 0.30 $ 0.30

Book value per common share (period end) $ 32.35 $ 32.13 $ 31.07 $ 29.83 $ 28.83

Tangible book value per common share (period end) (5) $ 30.14 $ 29.96 $ 28.92 $ 27.67 $ 26.66

Balance Sheet (Average Balances)

Loans (6) $ 8,167,438 $ 8,117,032 $ 8,098,058 $ 7,963,890 $ 7,784,757

Interest-earning assets 11,633,354 11,827,933 11,715,599 11,466,602 11,152,184

Total assets 12,138,944 12,377,910 12,248,544 11,958,502 11,657,544

Core deposits 9,560,640 9,930,939 9,866,369 9,736,301 9,623,779

Total deposits 9,829,019 10,161,728 10,086,731 9,963,960 9,782,001

Interest-bearing deposits 7,171,589 7,541,276 7,498,818 7,382,083 7,240,258

Borrowings 660,300 555,820 548,832 444,820 358,666

Stockholders' equity 1,406,938 1,394,097 1,361,055 1,318,886 1,290,888

Performance Metrics

Net interest margin (7) 5.36 % 5.12 % 5.24 % 5.31 % 5.42 %

Return on average assets (8) 1.78 % 1.81 % 1.69 % 1.73 % 1.56 %

Return on average tangible common stockholders' equity (9) 16.43 % 17.20 % 16.39 % 16.96 % 15.28 %

Efficiency ratio (10) 50.97 % 56.65 % 52.48 % 52.04 % 52.42 %

Full-time equivalent employees, period end 2,181 2,185 2,217 2,222 2,223

Credit Quality Metrics

Allowance for credit losses $ 203,956 $ 202,341 $ 197,782 $ 189,944 $ 181,174

Allowance as a % of loans held for investment 2.48 % 2.47 % 2.44 % 2.32 % 2.31 %

Net charge-offs $ 21,379 $ 26,873 $ 20,208 $ 12,784 $ 20,370

Net charge-off rate (11) 1.05 % 1.32 % 1.00 % 0.64 % 1.05 %

Early delinquency rate (30 - 89 days past due) 2.21 % 2.80 % 2.84 % 2.46 % 2.19 %

Total delinquency rate (30 days and over) 3.40 % 4.18 % 4.06 % 3.59 % 3.49 %

Capital Ratios (period end) (Non-GAAP) (12)

Leverage ratio 10.88 % 10.71 % 10.75 % 10.83 % 10.83 %

Common equity Tier 1 capital ratio 13.75 % 13.97 % 14.13 % 13.99 % 14.27 %

Tier 1 risk-based capital ratio 13.75 % 13.97 % 14.13 % 13.99 % 14.27 %

Total risk-based capital ratio 15.01 % 15.24 % 15.39 % 15.25 % 15.53 %

Tangible common equity ("TCE") ratio 10.66 % 10.47 % 10.55 % 10.20 % 10.30 %

OFG Bancorp (NYSE: OFG)

Table 2-1: Consolidated Statements of Operations

Quarter Ended

(Dollars in thousands) (unaudited) March 31, 2026 December 31, 2025 September 30,

2025 June 30,

2025 March 31,

2025

Interest income:

Loans

Non-PCD loans $ 142,211 $ 144,385 $ 146,665 $ 141,797 $ 137,690

PCD loans 16,343 13,826 14,669 15,190 15,718

Total interest income from loans 158,554 158,211 161,334 156,987 153,408

Investment securities and cash 35,572 39,011 38,811 37,360 35,814

Total interest income 194,126 197,222 200,145 194,347 189,222

Interest expense:

Deposits

Core deposits 31,196 36,482 37,458 35,529 34,645

Brokered deposits 2,672 2,352 2,284 2,350 1,647

Total deposits 33,868 38,834 39,742 37,879 36,292

Borrowings 6,445 5,644 5,679 4,540 3,859

Total interest expense 40,313 44,478 45,421 42,419 40,151

Net interest income 153,813 152,744 154,724 151,928 149,071

Provision for credit losses, excluding PCD loans 22,942 33,643 27,591 21,010 24,810

(Recapture of) provision for credit losses on PCD loans (459) (1,754) 667 668 878

Total provision for credit losses 22,483 31,889 28,258 21,678 25,688

Net interest income after provision for credit losses 131,330 120,855 126,466 130,250 123,383

Non-interest income:

Banking service revenues 16,944 16,550 15,930 15,982 15,981

Wealth management revenues 8,913 11,378 9,014 8,918 8,455

Mortgage banking activities 6,131 4,699 4,312 5,346 4,776

Total banking and financial service revenues 31,988 32,627 29,256 30,246 29,212

Other income (loss), net 179 (1,051) 2,197 184 305

Total non-interest income, net 32,167 31,576 31,453 30,430 29,517

Non-interest expense:

Compensation and employee benefits 41,347 43,093 39,836 39,565 39,932

Occupancy, equipment and infrastructure costs 13,418 15,338 14,994 14,629 14,820

General and administrative expenses 40,052 46,371 42,239 40,298 37,672

Foreclosed real estate and other repossessed assets (income) expenses, net (114) 209 (521) 310 1,028

Total non-interest expense 94,703 105,011 96,548 94,802 93,452

Income before income taxes 68,794 47,420 61,371 65,878 59,448

Income tax expense (benefit) 14,857 (8,473) 9,533 14,078 13,876

Net income available to common shareholders $ 53,937 $ 55,893 $ 51,838 $ 51,800 $ 45,572

OFG Bancorp (NYSE: OFG)

Table 3: Consolidated Statements of Financial Condition

(Dollars in thousands) (unaudited) March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Cash and cash equivalents $ 636,499 $ 1,040,335 $ 740,349 $ 851,798 $ 710,600

Investments:

Trading securities 24 23 21 18 19

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

Mortgage-backed securities 2,457,541 2,508,730 2,564,831 2,406,956 2,413,420

US treasury securities

2,131 1,651 1,635 1,399 1,384

Other investment securities 500 501 503 519 533

Total investment securities available-for-sale 2,460,172 2,510,882 2,566,969 2,408,874 2,415,337

Investment securities held-to-maturity, at amortized cost, no allowance for credit losses for any period

Mortgage-backed securities 264,580 269,498 275,116 281,186 286,824

Other investment securities — — 35,000 35,000 35,000

Total investment securities held-to-maturity 264,580 269,498 310,116 316,186 321,824

Equity securities 63,682 62,738 61,906 59,556 48,785

Total investments 2,788,458 2,843,141 2,939,012 2,784,634 2,785,965

Loans, net 8,040,074 8,014,246 7,935,413 8,009,599 7,688,271

Other assets:

Prepaid expenses 17,050 20,415 150,461 119,766 68,216

Deferred tax asset, net 120,431 104,359 7,468 7,048 6,299

Foreclosed real estate and repossessed properties 6,346 5,947 8,025 7,363 10,927

Premises and equipment, net 92,731 93,554 100,760 102,095 103,577

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

Other intangibles 8,869 9,854 11,086 12,318 13,550

Right of use assets 20,275 21,261 22,694 17,284 18,663

Servicing asset 67,228 66,333 67,437 68,588 69,238

Accounts receivable and other assets 165,701 161,971 162,866 166,776 169,710

Total assets $ 12,047,903 $ 12,465,657 $ 12,229,812 $ 12,231,510 $ 11,729,257

Deposits:

Demand deposits $ 5,347,977 $ 5,799,985 $ 5,791,959 $ 5,801,400 $ 5,841,418

Savings accounts 2,367,531 2,259,980 2,208,212 2,131,076 2,107,622

Time deposits 1,943,866 1,862,793 1,819,397 1,963,336 1,808,117

Brokered deposits 189,898 339,994 189,065 248,353 165,812

Total deposits 9,849,272 10,262,752 10,008,633 10,144,165 9,922,969

Borrowings:

Securities sold under agreements to repurchase 100,086 100,714 100,791 27,463 —

Advances from FHLB and other borrowings 456,581 456,590 456,530 456,530 255,642

Total borrowings 556,667 557,304 557,321 483,993 255,642

Other liabilities:

Acceptances outstanding 22,665 22,442 29,975 27,572 35,269

Lease liability 22,088 23,157 24,681 19,354 20,795

GNMA buy-back option program liability (21) 54,358 56,492 46,716 43,281 44,665

Deferred tax liability, net

337 — 50,298 48,374 44,223

Accrued expenses and other liabilities 175,621 153,505 136,771 130,318 110,333

Total liabilities 10,681,008 11,075,652 10,854,395 10,897,057 10,433,896

Stockholders' equity:

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

Additional paid-in capital 640,656 642,973 641,350 639,901 638,475

Legal surplus 193,787 188,490 183,614 178,834 173,905

Retained earnings 938,349 904,630 866,826 833,187 802,024

Treasury stock, at cost (432,209) (389,067) (348,957) (328,572) (320,927)

Accumulated other comprehensive loss, net (33,573) (16,906) (27,301) (48,782) (58,001)

Total stockholders' equity 1,366,895 1,390,005 1,375,417 1,334,453 1,295,361

Total liabilities and stockholders' equity $ 12,047,903 $ 12,465,657 $ 12,229,812 $ 12,231,510 $ 11,729,257

OFG Bancorp (NYSE: OFG)

Table 4-1: Information on Loan Portfolio and Production

(Dollars in thousands) (unaudited)

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Non-PCD:

Mortgage, excluding GNMA buy-back option program $ 588,642 $ 582,563 $ 580,332 $ 575,423 $ 571,637

Mortgage GNMA buy-back option program (21) 54,358 56,492 46,716 43,281 44,665

Commercial PR 2,611,166 2,586,305 2,469,925 2,511,495 2,337,872

Commercial US 871,640 829,975 831,731 825,254 727,409

Consumer 677,535 683,246 685,740 680,060 670,213

Auto 2,630,422 2,636,890 2,646,811 2,661,795 2,592,922

7,433,763 7,375,471 7,261,255 7,297,308 6,944,718

Less: Allowance for credit losses (200,111) (198,239) (189,701) (182,765) (174,752)

Total non-PCD loans held for investment, net 7,233,652 7,177,232 7,071,554 7,114,543 6,769,966

PCD:

Mortgage 730,629 751,291 772,808 795,863 819,271

Commercial PR 70,290 73,889 82,748 86,685 87,779

Consumer 306 302 337 575 595

Auto 75 89 119 160 281

801,300 825,571 856,012 883,283 907,926

Less: Allowance for credit losses (3,845) (4,102) (8,081) (7,179) (6,422)

Total PCD loans held for investment, net 797,455 821,469 847,931 876,104 901,504

Total loans held for investment 8,031,107 7,998,701 7,919,485 7,990,647 7,671,470

Mortgage loans held for sale 8,967 12,483 9,680 14,590 12,439

Other loans held for sale — 3,062 6,248 4,362 4,362

Total loans, net $ 8,040,074 $ 8,014,246 $ 7,935,413 $ 8,009,599 $ 7,688,271

Loan Portfolio Summary:

Loans held for investment:

Mortgage, excluding GNMA buy-back option program $ 1,319,271 $ 1,333,854 $ 1,353,140 $ 1,371,286 $ 1,390,908

Mortgage GNMA buy-back option program (21) 54,358 56,492 46,716 43,281 44,665

Commercial PR 2,681,456 2,660,194 2,552,673 2,598,180 2,425,651

Commercial US 871,640 829,975 831,731 825,254 727,409

Consumer 677,841 683,548 686,077 680,635 670,808

Auto 2,630,497 2,636,979 2,646,930 2,661,955 2,593,203

8,235,063 8,201,042 8,117,267 8,180,591 7,852,644

Less: Allowance for credit losses (203,956) (202,341) (197,782) (189,944) (181,174)

Total loans held for investment, net 8,031,107 7,998,701 7,919,485 7,990,647 7,671,470

Mortgage loans held for sale 8,967 12,483 9,680 14,590 12,439

Other loans held for sale — 3,062 6,248 4,362 4,362

Total loans, net $ 8,040,074 $ 8,014,246 $ 7,935,413 $ 8,009,599 $ 7,688,271

OFG Bancorp (NYSE: OFG)

Table 4-2: Information on Loan Portfolio and Production

Quarter Ended

(Dollars in thousands) (unaudited) March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Loan production (13)

Mortgage $ 41,948 $ 44,593 $ 42,392 $ 55,575 $ 37,014

Commercial PR 200,441 201,974 216,560 253,874 163,232

Commercial US 102,733 111,896 116,368 147,193 57,939

Consumer 68,481 68,204 76,027 76,757 67,859

Auto 195,256 178,928 172,558 250,269 232,897

Total $ 608,859 $ 605,595 $ 623,905 $ 783,668 $ 558,941

OFG Bancorp (NYSE: OFG)

Table 5-1: Average Balances, Net Interest Income and Net Interest Margin

2026 Q1

2025 Q4

2025 Q3

2025 Q2

2025 Q1

(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 $ 660,529 $ 5,855 3.59 % $ 803,931 $ 7,898 3.90 % $ 784,978 $ 8,555 4.32 % $ 746,356 $ 8,078 4.34 % $ 593,325 $ 6,316 4.32 %

Investment securities 2,805,387 29,717 4.24 % 2,906,970 31,113 4.28 % 2,832,563 30,256 4.27 % 2,756,356 29,282 4.25 % 2,774,102 29,498 4.25 %

Loans held for investment

Non-PCD loans 7,356,900 142,211 7.84 % 7,272,783 144,385 7.88 % 7,228,920 146,665 8.05 % 7,067,367 141,797 8.05 % 6,864,180 137,690 8.14 %

PCD loans 810,538 16,343 8.07 % 844,249 13,826 6.55 % 869,138 14,669 6.75 % 896,523 15,190 6.78 % 920,577 15,718 6.83 %

Total loans 8,167,438 158,554 7.87 % 8,117,032 158,211 7.73 % 8,098,058 161,334 7.90 % 7,963,890 156,987 7.91 % 7,784,757 153,408 7.99 %

Total interest-earning assets $ 11,633,354 $ 194,126 6.77 % $ 11,827,933 $ 197,222 6.62 % $ 11,715,599 $ 200,145 6.78 % $ 11,466,602 $ 194,347 6.80 % $ 11,152,184 $ 189,222 6.88 %

Interest bearing liabilities:

Deposits

NOW accounts $ 2,711,262 $ 10,093 1.51 % $ 3,211,013 $ 14,976 1.85 % $ 3,208,598 $ 15,941 1.97 % $ 3,211,382 $ 15,451 1.93 % $ 3,193,088 $ 14,897 1.89 %

Savings accounts 2,319,764 6,391 1.12 % 2,258,856 6,450 1.13 % 2,215,538 6,212 1.11 % 2,119,036 5,175 0.98 % 2,093,431 5,028 0.97 %

Time deposits 1,872,184 13,957 3.02 % 1,840,618 14,113 3.04 % 1,854,320 14,362 3.07 % 1,824,006 13,960 3.07 % 1,795,517 13,777 3.11 %

Brokered deposits 268,379 2,672 4.04 % 230,789 2,352 4.04 % 220,362 2,284 4.11 % 227,659 2,350 4.14 % 158,222 1,647 4.22 %

7,171,589 33,113 1.87 % 7,541,276 37,891 1.99 % 7,498,818 38,799 2.05 % 7,382,083 36,936 2.01 % 7,240,258 35,349 1.98 %

Non-interest bearing deposit accounts 2,657,430 — — 2,620,452 — — 2,587,913 — — 2,581,877 — — 2,541,743 — —

Fair value premium and core deposit intangible amortization — 755 — — 943 — — 943 — — 943 — — 943 —

Total deposits 9,829,019 33,868 1.40 % 10,161,728 38,834 1.52 % 10,086,731 39,742 1.56 % 9,963,960 37,879 1.52 % 9,782,001 36,292 1.50 %

Borrowings

Securities sold under agreements to repurchase 204,480 1,855 3.68 % 100,000 951 3.77 % 93,028 986 4.21 % 10,517 120 4.56 % 63,531 710 4.53 %

Advances from FHLB and other borrowings 455,820 4,590 4.08 % 455,820 4,693 4.08 % 455,804 4,693 4.08 % 434,303 4,420 4.08 % 295,135 3,149 4.33 %

Total borrowings 660,300 6,445 3.96 % 555,820 5,644 4.03 % 548,832 5,679 4.10 % 444,820 4,540 4.09 % 358,666 3,859 4.36 %

Total liabilities

$ 10,489,319 $ 40,313 1.56 % $ 10,717,548 $ 44,478 1.65 % $ 10,635,563 $ 45,421 1.69 % $ 10,408,780 $ 42,419 1.63 % $ 10,140,667 $ 40,151 1.61 %

Interest rate spread $ 153,813 5.21 % $ 152,744 4.97 % $ 154,724 5.09 % $ 151,928 5.17 % $ 149,071 5.27 %

Net interest margin 5.36 % 5.12 % 5.24 % 5.31 % 5.42 %

Core deposits: (Non-GAAP)

NOW accounts $ 2,711,262 $ 10,093 1.51 % $ 3,211,013 $ 14,976 1.85 % $ 3,208,598 $ 15,941 1.97 % $ 3,211,382 $ 15,451 1.93 % $ 3,193,088 $ 14,897 1.89 %

Savings accounts 2,319,764 6,391 1.12 % 2,258,856 6,450 1.13 % 2,215,538 6,212 1.11 % 2,119,036 5,175 0.98 % 2,093,431 5,028 0.97 %

Time deposits 1,872,184 13,957 3.02 % 1,840,618 14,113 3.04 % 1,854,320 14,362 3.07 % 1,824,006 13,960 3.07 % 1,795,517 13,777 3.11 %

6,903,210 30,441 1.79 % 7,310,487 35,539 1.93 % 7,278,456 36,515 1.99 % 7,154,424 34,586 1.94 % 7,082,036 33,702 1.93 %

Non-interest bearing deposit accounts 2,657,430 — — 2,620,452 — — 2,587,913 — — 2,581,877 — — 2,541,743 — —

Total core deposits $ 9,560,640 $ 30,441 1.29 % $ 9,930,939 $ 35,539 1.42 % $ 9,866,369 $ 36,515 1.47 % $ 9,736,301 $ 34,586 1.42 % $ 9,623,779 $ 33,702 1.42 %

Total borrowings and brokered deposits: (Non-GAAP)

Total borrowings

$ 660,300 $ 6,445 3.96 % $ 555,820 $ 5,644 4.03 % $ 548,832 $ 5,679 4.10 % $ 444,820 $ 4,540 4.09 % $ 358,666 $ 3,859 4.36 %

Brokered deposits

268,379 2,672 4.04 % 230,789 2,352 4.04 % 220,362 2,284 4.11 % 227,659 2,350 4.14 % 158,222 1,647 4.22 %

Total borrowings and brokered deposits

$ 928,679 $ 9,117 3.98 % $ 786,609 $ 7,996 4.03 % $ 769,194 $ 7,963 4.11 % $ 672,479 $ 6,890 4.11 % $ 516,888 $ 5,506 4.32 %

OFG Bancorp (NYSE: OFG)

Table 6-1: Loan Information and Performance Statistics

2026 2025 2025 2025 2025

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

Net Charge-offs

Non-PCD

Mortgage:

Charge-offs $ 66 $ — $ — $ 11 $ 23

Recoveries (193) (91) (171) (745) (186)

Total mortgage (127) (91) (171) (734) (163)

Commercial PR:

Charge-offs 75 6,012 1,446 273 112

Recoveries (52) (1,275) (922) (88) (152)

Total commercial PR 23 4,737 524 185 (40)

Commercial US:

Charge-offs 3,934 55 3,647 — 2,918

Recoveries — (44) — — —

Total commercial US 3,934 11 3,647 — 2,918

Consumer:

Charge-offs 8,819 9,023 7,704 6,970 8,252

Recoveries (1,068) (964) (896) (848) (725)

Total consumer 7,751 8,059 6,808 6,122 7,527

Auto:

Charge-offs 18,159 19,002 16,743 14,870 18,192

Recoveries (8,159) (7,070) (7,108) (7,570) (7,674)

Total auto 10,000 11,932 9,635 7,300 10,518

Total $ 21,581 $ 24,648 $ 20,443 $ 12,873 $ 20,760

PCD

Mortgage:

Charge-offs $ 6 $ — $ — $ 59 $ —

Recoveries (167) (239) (281) (91) (341)

Total mortgage (161) (239) (281) (32) (341)

Commercial PR:

Charge-offs — 3,223 205 31 —

Recoveries (21) (734) (118) (63) (25)

Total commercial PR (21) 2,489 87 (32) (25)

Consumer:

Charge-offs — — — 1 —

Recoveries (6) (6) (10) (11) (6)

Total consumer (6) (6) (10) (10) (6)

Auto:

Charge-offs — 6 2 13 1

Recoveries (14) (25) (33) (28) (19)

Total auto (14) (19) (31) (15) (18)

Total $ (202) $ 2,225 $ (235) $ (89) $ (390)

Total Net Charge-offs $ 21,379 $ 26,873 $ 20,208 $ 12,784 $ 20,370

Net Charge-off Rates

Mortgage (0.09) % (0.10) % (0.13) % (0.22) % (0.14) %

Commercial PR 0.00 % 1.11 % 0.10 % 0.02 % (0.01) %

Commercial US 1.85 % 0.01 % 1.74 % 0.00 % 1.62 %

Consumer 4.40 % 4.55 % 3.85 % 3.50 % 4.34 %

Auto 1.52 % 1.81 % 1.45 % 1.11 % 1.63 %

Total 1.05 % 1.32 % 1.00 % 0.64 % 1.05 %

Average Loans Held For Investment

Mortgage $ 1,322,249 $ 1,341,058 $ 1,361,765 $ 1,379,986 $ 1,404,961

Commercial PR 2,654,345 2,596,971 2,536,829 2,463,009 2,392,006

Commercial US 849,850 834,224 836,527 786,637 719,838

Consumer 704,872 707,401 705,945 698,581 693,563

Auto 2,636,122 2,637,378 2,656,992 2,635,677 2,574,389

Total $ 8,167,438 $ 8,117,032 $ 8,098,058 $ 7,963,890 $ 7,784,757

OFG Bancorp (NYSE: OFG)

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

2026 2025 2025 2025 2025

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

Early Delinquency (30 - 89 days past due)

Mortgage $ 8,287 $ 10,709 $ 11,474 $ 10,313 $ 9,830

Commercial 4,309 2,004 9,423 3,121 1,412

Consumer 13,615 15,341 15,000 13,093 12,129

Auto 138,020 178,100 170,075 152,732 128,619

Total $ 164,231 $ 206,154 $ 205,972 $ 179,259 $ 151,990

Early Delinquency Rates (30 - 89 days past due)

Mortgage 1.29 % 1.68 % 1.83 % 1.67 % 1.59 %

Commercial 0.12 % 0.06 % 0.29 % 0.09 % 0.05 %

Consumer 2.01 % 2.25 % 2.19 % 1.93 % 1.81 %

Auto 5.25 % 6.75 % 6.43 % 5.74 % 4.96 %

Total 2.21 % 2.80 % 2.84 % 2.46 % 2.19 %

Total Delinquency (30 days and over past due)

Mortgage:

Traditional, Non traditional, and Loans under Loss Mitigation $ 20,192 $ 22,246 $ 22,657 $ 19,946 $ 21,457

GNMA's buy-back option program (21) 54,358 56,492 46,716 43,281 44,665

Total mortgage 74,550 78,738 69,373 63,227 66,122

Commercial 8,052 11,534 20,592 14,282 17,692

Consumer 17,343 19,519 18,942 16,839 15,611

Auto 152,912 198,779 185,964 167,653 142,662

Total $ 252,857 $ 308,570 $ 294,871 $ 262,001 $ 242,087

Total Delinquency Rates (30 days and over past due)

Mortgage:

Traditional, Non traditional, and Loans under Loss Mitigation 3.14 % 3.48 % 3.61 % 3.22 % 3.48 %

GNMA's buy-back option program (21) 8.45 % 8.84 % 7.45 % 7.00 % 7.25 %

Total mortgage 11.59 % 12.32 % 11.06 % 10.22 % 10.73 %

Commercial 0.23 % 0.34 % 0.62 % 0.43 % 0.58 %

Consumer 2.56 % 2.86 % 2.76 % 2.48 % 2.33 %

Auto 5.81 % 7.54 % 7.03 % 6.30 % 5.50 %

Total 3.40 % 4.18 % 4.06 % 3.59 % 3.49 %

Nonperforming Assets (14)

Mortgage $ 17,921 $ 17,400 $ 17,426 $ 15,804 $ 16,909

Commercial 84,004 87,253 53,428 54,003 44,150

Consumer 3,837 4,378 4,194 3,790 3,482

Auto 14,934 20,750 15,962 14,968 14,043

Total nonperforming loans 120,696 129,781 91,010 88,565 78,584

Foreclosed real estate 2,037 2,490 3,160 2,603 4,271

Other repossessed assets 4,310 3,457 4,865 4,760 6,656

Total nonperforming assets $ 127,043 $ 135,728 $ 99,035 $ 95,928 $ 89,511

Nonperforming Loan Rates

Mortgage 2.79 % 2.72 % 2.78 % 2.55 % 2.74 %

Commercial 2.41 % 2.55 % 1.62 % 1.62 % 1.44 %

Consumer 0.57 % 0.64 % 0.61 % 0.56 % 0.52 %

Auto 0.57 % 0.79 % 0.60 % 0.56 % 0.54 %

Total loans 1.62 % 1.76 % 1.25 % 1.21 % 1.13 %

OFG Bancorp (NYSE: OFG)

Table 6-3: Loan Information and Performance Statistics

2026 2026 2025 2025 2025

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

Nonperforming PCD Loans (14)

Mortgage $ 224 $ 227 $ 230 $ 233 $ 234

Commercial 24 55 7,803 8,603 8,666

Total nonperforming loans $ 248 $ 282 $ 8,033 $ 8,836 $ 8,900

Nonperforming PCD Loan Rates

Mortgage 0.03 % 0.03 % 0.03 % 0.03 % 0.03 %

Commercial 0.03 % 0.07 % 9.43 % 9.92 % 9.87 %

Total 0.03 % 0.03 % 0.94 % 1.00 % 0.98 %

Total PCD Loans Held for Investment

Mortgage $ 730,629 $ 751,291 $ 772,808 $ 795,863 $ 819,271

Commercial 70,290 73,889 82,748 86,685 87,779

Consumer 306 302 337 575 595

Auto 75 89 119 160 281

Total loans $ 801,300 $ 825,571 $ 856,012 $ 883,283 $ 907,926

Total Nonperforming Loans (14)

Mortgage $ 18,145 $ 17,627 $ 17,656 $ 16,037 $ 17,143

Commercial 84,028 87,308 61,231 62,606 52,816

Consumer 3,837 4,378 4,194 3,790 3,482

Auto 14,934 20,750 15,962 14,968 14,043

Total nonperforming loans $ 120,944 $ 130,063 $ 99,043 $ 97,401 $ 87,484

Total Nonperforming Loan Rates

Mortgage 1.32 % 1.27 % 1.26 % 1.13 % 1.19 %

Commercial 2.36 % 2.50 % 1.81 % 1.83 % 1.68 %

Consumer 0.57 % 0.64 % 0.61 % 0.56 % 0.52 %

Auto 0.57 % 0.79 % 0.60 % 0.56 % 0.54 %

Total 1.47 % 1.59 % 1.22 % 1.19 % 1.11 %

Total Loans Held for Investment

Mortgage $ 1,373,629 $ 1,390,346 $ 1,399,856 $ 1,414,567 $ 1,435,573

Commercial 3,553,096 3,490,169 3,384,404 3,423,434 3,153,060

Consumer 677,841 683,548 686,077 680,635 670,808

Auto 2,630,497 2,636,979 2,646,930 2,661,955 2,593,203

Total loans $ 8,235,063 $ 8,201,042 $ 8,117,267 $ 8,180,591 $ 7,852,644

(a) Refer to “(a)” in Table 1-1.

OFG Bancorp (NYSE: OFG)

Table 7: Allowance for Credit Losses

Quarter Ended March 31, 2026

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

Allowance for credit losses Non-PCD:

Balance at beginning of period $ 6,358 $ 65,943 $ 33,466 $ 92,472 $ 198,239

(Recapture of) provision for credit losses (242) 6,422 7,283 9,990 23,453

Charge-offs (66) (4,009) (8,819) (18,159) (31,053)

Recoveries 193 52 1,068 8,159 9,472

Balance at end of period $ 6,243 $ 68,408 $ 32,998 $ 92,462 $ 200,111

Allowance for credit losses PCD:

Balance at beginning of period $ 3,599 $ 493 $ 9 $ 1 $ 4,102

Recapture of provision for credit losses (422) (19) (5) (13) (459)

Charge-offs (6) — — — (6)

Recoveries 167 21 6 14 208

Balance at end of period $ 3,338 $ 495 $ 10 $ 2 $ 3,845

Allowance for credit losses summary:

Balance at beginning of period $ 9,957 $ 66,436 $ 33,475 $ 92,473 $ 202,341

(Recapture of) provision for credit losses (664) 6,403 7,278 9,977 22,994

Charge-offs (72) (4,009) (8,819) (18,159) (31,059)

Recoveries 360 73 1,074 8,173 9,680

Balance at end of period $ 9,581 $ 68,903 $ 33,008 $ 92,464 $ 203,956

Allowance coverage ratio 0.70 % 1.94 % 4.87 % 3.52 % 2.48 %

) 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 2025 2025 2025 2025

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

Stockholders' Equity to Non-GAAP Tangible Common Equity

Total stockholders' equity $ 1,366,895 $ 1,390,005 $ 1,375,417 $ 1,334,453 $ 1,295,361

Less: Intangible assets (93,110) (94,096) (95,327) (96,559) (97,791)

Tangible common equity (Non-GAAP) $ 1,273,785 $ 1,295,909 $ 1,280,090 $ 1,237,894 $ 1,197,570

Common shares outstanding at end of period 42,257 43,257 44,265 44,742 44,924

Tangible book value per common share (Non-GAAP) $ 30.14 $ 29.96 $ 28.92 $ 27.67 $ 26.66

Total Assets to Non-GAAP Tangible Assets

Total assets $ 12,047,903 $ 12,465,657 $ 12,229,812 $ 12,231,510 $ 11,729,257

Less: Intangible assets (93,110) (94,096) (95,327) (96,559) (97,791)

Tangible assets (Non-GAAP) $ 11,954,793 $ 12,371,561 $ 12,134,485 $ 12,134,951 $ 11,631,466

Non-GAAP TCE Ratio

Tangible common equity $ 1,273,785 $ 1,295,909 $ 1,280,090 $ 1,237,894 $ 1,197,570

Tangible assets 11,954,793 12,371,561 12,134,485 12,134,951 11,631,466

TCE ratio 10.66 % 10.47 % 10.55 % 10.20 % 10.30 %

Average Equity to Non-GAAP Average Tangible Common Equity

Average total stockholders' equity $ 1,406,938 $ 1,394,097 $ 1,361,055 $ 1,318,886 $ 1,290,888

Less: Average intangible assets (93,460) (94,528) (95,756) (96,983) (98,229)

Average tangible common equity (Non-GAAP) $ 1,313,478 $ 1,299,569 $ 1,265,299 $ 1,221,903 $ 1,192,659

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 2025 2025 2025 2025

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

Regulatory Capital Metrics

Common equity Tier 1 capital $ 1,312,874 $ 1,318,632 $ 1,313,558 $ 1,293,041 $ 1,261,662

Tier 1 capital 1,312,874 1,318,632 1,313,558 1,293,041 1,261,662

Total risk-based capital (15) 1,433,271 1,437,595 1,430,713 1,409,447 1,373,004

Risk-weighted assets 9,550,860 9,436,010 9,298,556 9,245,125 8,843,043

Regulatory Capital Ratios

Common equity Tier 1 capital ratio (16) 13.75 % 13.97 % 14.13 % 13.99 % 14.27 %

Tier 1 risk-based capital ratio (17) 13.75 % 13.97 % 14.13 % 13.99 % 14.27 %

Total risk-based capital ratio (18) 15.01 % 15.24 % 15.39 % 15.25 % 15.53 %

Leverage ratio (19) 10.88 % 10.71 % 10.75 % 10.83 % 10.83 %

Common Equity Tier 1 Capital Ratio Under Basel III Standardized Approach

Total stockholders' equity $ 1,366,895 $ 1,390,005 $ 1,375,417 $ 1,334,453 $ 1,295,361

Plus: Unrealized losses on available-for-sale securities, net of

income tax 33,573 16,906 27,301 48,782 58,001

Total adjusted stockholders’equity 1,400,468 1,406,911 1,402,718 1,383,235 1,353,362

Less: Disallowed goodwill, net (79,764) (79,700) (79,889) (80,079) (80,742)

Disallowed other intangible assets, net (7,729) (8,429) (9,271) (10,115) (10,958)

Disallowed deferred tax assets, net (101) (150) — — —

Common equity Tier 1 capital and Tier 1 capital 1,312,874 1,318,632 1,313,558 1,293,041 1,261,662

Plus Tier 2 capital: Qualifying allowance for credit losses 120,397 118,963 117,155 116,406 111,342

Total risk-based capital $ 1,433,271 $ 1,437,595 $ 1,430,713 $ 1,409,447 $ 1,373,004

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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v3.26.1

Cover page

Apr. 21, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Apr. 21, 2026

Entity Registrant Name

OFG BANCORP

Entity Incorporation, State or Country Code

Entity File Number

001-12647

Entity Tax Identification Number

66-0538893

Entity Address, Address Line One

Oriental Center

Entity Address, Address Line Two

15th Floor

Entity Address, Address Line Three

254 Munoz Rivera Avenue

Entity Address, City or Town

San Juan

Entity Address, Country

Entity Address, Postal Zip Code

00918

City Area Code

787

Local Phone Number

771-6800

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common shares, par value $1.00 per share

Trading Symbol

OFG

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

Entity Central Index Key

0001030469

Amendment Flag

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 3 such as an Office Park

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine3

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

ISO 3166-1 alpha-2 country code.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCountry

Namespace Prefix:

dei_

Data Type:

dei:countryCodeItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration