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 |
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 |