OFG Bancorp (N:OFG)

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 254 Munoz Rivera Avenue
SAN JUAN 00918
Tel: 1-212-5323232
Website: https://www.ofgbancorp.com/overview/default.aspx
IR: See website
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Key People
Jose Rafael Fernandez
Vice Chairman of the Board, President, Chief Executive Officer
Maritza Arizmendi
Chief Financial Officer
Jose E. Cabrera Lazaro
Chief Compliance Officer
Cesar A. Ortiz
Chief Risk Officer
Hugh Gonzalez
General Counsel
Ada Garcia
Managing Director - Customer Intelligence and Operations
Patrick Haggarty
Managing Director - Commercial Banking
Ganesh Kumar
Chief Strategy Officer, U.S. Business
Mari Evelyn Rodriguez
Chief Retail Banking Officer
Business Overview
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services. The Company provides these services through various subsidiaries, including a commercial bank, Oriental Bank; a securities broker-dealer, Oriental Financial Services Corp. (Oriental Financial Services); an insurance agency, Oriental Insurance, LLC (Oriental Insurance), and a retirement plan administrator, Oriental Pension Consultants, Inc. (OPC).
Financial Overview
For the fiscal year ended 31 December 2023, OFG Bancorp interest income increased 26% to $648.9M. Net interest income after loan loss provision increased 9% to $500.2M. Net income increased 9% to $181.9M. Net interest income after loan loss provision reflects Banking segment increase of 6% to $434.1M, Treasury segment increase of 36% to $66.1M, Net Interest Margin, Total -% increase of 15% to 5.79%, Net Interest Spread.
Employees: 2,248 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $991.91M as of Dec 31, 2023
Annual revenue (TTM): $648.88M as of Dec 31, 2023
EBITDA (TTM): $304.47M as of Dec 31, 2023
Net annual income (TTM): $181.87M as of Dec 31, 2023
Free cash flow (TTM): $236.79M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 47,146,411 as of Mar 11, 2024
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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