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OFG Bancorp Reports 2Q26 Results
SAN JUAN, Puerto Rico, July 21, 2026 – OFG Bancorp (NYSE: OFG), the financial holding company for Oriental Bank, today reported results for the second quarter ended June 30, 2026. EPS diluted of $1.39 compared to $1.26 in 1Q26 and $1.15 in 2Q25. Total core revenues of $190.3 million compared to $185.8 million in 1Q26 and $182.2 million in 2Q25.
CEO Comment
José Rafael Fernández, Chief Executive Officer, said: “With year-over-year increases of 20.9% in EPS and 4.5% in core revenues, second quarter results reflected continued momentum across all our businesses, supported by disciplined execution, excellent customer engagement, and our differentiated operating model. We continue to show core deposit strength, consistent loan growth, stable credit trends, and effective balance sheet management.”
“During 2Q26, Oriental launched a branding-marketing campaign reflecting our evolution to a digital bank with a human touch. The campaign highlights our market-leading banking and customer communication technologies in Puerto Rico combined with our people and intensely customer-focused culture. This sets us apart and reinforces our mission to help customers achieve progress. They are the point of everything we do.”
“On a macro level, the Puerto Rico economy remains stable, with federal reconstruction funds continuing to flow, a strong labor market, and private sector manufacturing and onshoring investment. With the economy as a tailwind, our operational strength, disciplined execution, and focus on the customer experience positions us well to capitalize on long-term growth opportunities.”
2Q26 Highlights
Performance Metrics: Net interest margin of 5.45%, return on average assets of 1.93%, return on average tangible common stockholders’ equity of 17.94%, and efficiency ratio of 54.04%.
Total Interest Income of $197.2 million compared to $194.1 million in 1Q26 and $194.3 million in 2Q25. 2Q26 increased $3.0 million sequentially, primarily reflecting higher average balances of loans at higher average rates, $4.1 million from three paid in full commercial loans compared to $3.3 million from another paid in full commercial loan in 1Q26, and one additional business day, which increased interest income by approximately $1.6 million.
Total Interest Expense of $39.9 million compared to $40.3 million in 1Q26 and $42.4 million in 2Q25. 2Q26 decreased $0.5 million sequentially, primarily reflecting lower average balances of borrowings and brokered deposits, which more than offset the additional expense of higher average balances of core deposits, and one additional business day, which increased interest expense by approximately $0.4 million.
Total Banking & Financial Service Revenues of $33.0 million compared to $32.0 million in 1Q26 and $30.2 million in 2Q25. 2Q26 increased $1.0 million sequentially, reflecting higher banking service and wealth management revenues, which included $1.1 million in insurance and annuity fees, and lower mortgage banking revenues.
Pre-Provision Net Revenues of $87.5 million compared to $91.3 million in 1Q26 and $87.6 million in 2Q25.
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Total Provision for Credit Losses of $13.0 million compared to $22.5 million in 1Q26 and $21.7 million in 2Q25. 2Q26 primarily reflected $14.7 million for increased loan volume and $1.9 million in commercial loan recoveries, while 1Q26 included $17.5 million for increased loan volume and increased allowance of $3.7 million for a previously reserved telecom loan and $1.0 million for newly classified small commercial loans.
Credit Quality: Net charge-offs of $28.8 million (1.40% of average loans) compared to $21.4 million (1.05%) in 1Q26 and $12.8 million (0.64%) in 2Q25, and non-performing loans of $67.3 million (0.81% of average loans) compared to $120.9 million (1.47%) in 1Q26 and $97.4 million (1.19%) in 2Q25. The changes in 2Q26 NCOs and NPLs primarily reflected the sales of the above-mentioned telecom loan and a U.S. commercial loan.
Total Non-Interest Expense of $102.8 million compared to $94.7 million in 1Q26 and $94.8 million in 2Q25. 2Q26 included $5.8 million in business related operational charges, while 1Q26 included $1.0 million in capital markets readiness and registration expenses and the benefit of $3.6 million in a business related volume incentive payment.
Income Tax Expense was $15.7 million compared to $14.9 million in 1Q26 and $14.1 million in 2Q25. 2Q26 ETR reflected an anticipated rate of 22.64% for the year plus the benefit of some discrete items.
Loans Held for Investment (EOP) of $8.30 billion compared to $8.24 billion in 1Q26 and $8.18 billion in 2Q25. 2Q26 balances grew $62.4 million or 0.8% sequentially, reflecting increases in Puerto Rico commercial and consumer loans.
New Loan Production of $755.0 million compared to $608.9 million in 1Q26 and $783.7 million in 2Q25. 2Q26 production grew $146.2 million or 24.0% sequentially, reflecting increases in Puerto Rico commercial, residential mortgage, and consumer loans. Production declined 3.7% year-over-year, reflecting unusually strong auto sales in 2Q25 due to the threat of tariffs.
Total Investments (EOP) of $2.70 billion compared to $2.79 billion in 1Q26 and $2.78 billion in 2Q25. 2Q26 primarily reflected principal paydowns in mortgage backed securities.
Customer Deposits (EOP) of $9.74 billion compared to $9.66 billion in 1Q26 and $9.90 billion in 2Q25. 2Q26 deposits increased $84.9 million or 0.9% sequentially, reflecting government, commercial and retail deposit growth.
Total Borrowings & Brokered Deposits (EOP) of $795.5 million compared to $746.6 million in 1Q26 and $732.3 million in 2Q25. 2Q26 total borrowings and brokered deposits increased $48.9 million sequentially for liquidity management purposes.
Cash & Cash Equivalents (EOP) of $745.7 million compared to $636.5 million in 1Q26 and $851.8 million in 2Q25. 2Q26 cash increased $109.2 million sequentially primarily due to deposit growth and repayments from the investment portfolio.
Capital: CET1 ratio was 14.07% compared to 13.75% in 1Q26 and 13.99% in 2Q25. Tangible Common Equity ratio was 10.90% compared to 10.66% in 1Q26 and 10.20% in 2Q25. Tangible Book Value per share was $31.12 compared to $30.14 in 1Q26 and $27.67 in 2Q25.
Conference Call, Financial Supplement & Presentation
A conference call to discuss 2Q26 results, outlook and related matters will be held today at 10:00 AM ET. Phone (800) 579-2543 or (785) 424-1789. Conference ID: OFGQ226. 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 June 30, 2026, and the 2Q26 Conference
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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
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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 June 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)


OFG Bancorp (NYSE: OFG)
Table 1-1: Financial and Statistical Summary - Consolidated

2026
2026
2025
2025
2025
(Dollars in thousands, except per share data) (unaudited)
Q2
Q1
Q4
Q3
Q2
Statement of Operations
Net interest income $157,299$153,813$152,744$154,724$151,928
Non-interest income, net (core)(1)32,98431,98832,62729,25630,247
Total core revenues(2)190,283185,801185,371183,980182,175
Non-interest expense 102,83294,703105,01196,54894,802
Pre-provision net revenues(20)87,49091,27779,30989,62987,557
Total provision for credit losses 13,00622,48331,88928,25821,678
Net income before income taxes 74,48468,79447,42061,37165,879
Income tax expense (benefit) 15,70714,857(8,473)9,53314,078
Net income available to common stockholders 58,77753,93755,89351,83851,801
Common Share Statistics      
Earnings per common share - basic(3)$1.39$1.26$1.28$1.17$1.15
Earnings per common share - diluted(4)$1.39$1.26$1.27$1.16$1.15
Average common shares outstanding 42,26142,78643,64944,43044,854
Average common shares outstanding and equivalents 42,39742,95643,90144,65845,033
Cash dividends per common share $0.35$0.35$0.30$0.30$0.30
Book value per common share (period end) $33.30$32.35$32.13$31.07$29.83
Tangible book value per common share (period end)(5)$31.12$30.14$29.96$28.92$27.67
Balance Sheet (Average Balances)      
Loans(6)$8,245,654$8,167,438$8,117,032$8,098,058$7,963,890
Interest-earning assets 11,582,52111,633,35411,827,93311,715,59911,466,602
Total assets 12,154,69112,138,94412,377,91012,248,54411,958,502
Core deposits 9,705,4809,560,6409,930,9399,866,3699,736,301
Total deposits 9,921,8079,829,01910,161,72810,086,7319,963,960
Interest-bearing deposits 7,172,7857,171,5897,541,2767,498,8187,382,083
Borrowings 579,724660,300555,820548,832444,820
Stockholders' equity 1,403,1371,406,9381,394,0971,361,0551,318,886
Performance Metrics      
Net interest margin(7)5.45 %5.36 %5.12 %5.24 %5.31 %
Return on average assets(8)1.93 %1.78 %1.81 %1.69 %1.73 %
Return on average tangible common stockholders' equity(9)17.94 %16.43 %17.20 %16.39 %16.96 %
Efficiency ratio(10)54.04 %50.97 %56.65 %52.48 %52.04 %
Full-time equivalent employees, period end 2,185 2,181 2,185 2,217 2,222 
Credit Quality Metrics     
Allowance for credit losses$188,255$203,956$202,341$197,782$189,944
Allowance as a % of loans held for investment2.27 %2.48 %2.47 %2.44 %2.32 %
Net charge-offs$28,791$21,379$26,873$20,208$12,784
Net charge-off rate(11)1.40 %1.05 %1.32 %1.00 %0.64 %
Early delinquency rate (30 - 89 days past due)2.51 %2.21 %2.80 %2.84 %2.46 %
Total delinquency rate (30 days and over)3.68 %3.40 %4.18 %4.06 %3.59 %
Capital Ratios (period end) (Non-GAAP)(12)
Leverage ratio11.23 %10.88 %10.71 %10.75 %10.83 %
Common equity Tier 1 capital ratio14.07 %13.75 %13.97 %14.13 %13.99 %
Tier 1 risk-based capital ratio14.07 %13.75 %13.97 %14.13 %13.99 %
Total risk-based capital ratio15.33 %15.01 %15.24 %15.39 %15.25 %
Tangible common equity ("TCE") ratio10.90 %10.66 %10.47 %10.55 %10.20 %



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OFG Bancorp (NYSE: OFG)
Table 1-2: Financial and Statistical Summary - Consolidated (Continued)
Six-month period ended June 30,
(Dollars in thousands, except per share data) (unaudited)20262025
Statement of Operations
Net interest income$311,112 $300,999 
Non-interest income, net (core)(1)64,972 59,459 
Total core revenues(2)376,084 360,458 
Non-interest expense197,535 188,254 
Pre-provision net revenues(21)178,767 172,693 
Total provision for credit losses35,489 47,366 
Net income before income taxes143,278 125,327 
Income tax expense30,564 27,954 
Net income available to common stockholders112,714 97,373 
Common Share Statistics
Earnings per common share - basic(3)$2.65 $2.16 
Earnings per common share - diluted(4)$2.64 $2.15 
Average common shares outstanding42,522 45,074 
Average common shares outstanding and equivalents42,645 45,265 
Cash dividends per common share$0.70 $0.60 
Book value per common share (period end)$33.30 $29.83 
Tangible book value per common share (period end)(5)$31.12 $27.67 
Balance Sheet (Average Balances)
Loans(6)$8,206,763 $7,874,819 
Interest-earning assets11,607,798 11,310,263 
Total assets12,146,861 11,808,855 
Core deposits9,633,463 9,680,351 
Total deposits9,875,672 9,873,483 
Interest-bearing deposits7,172,190 7,311,562 
Borrowings619,789 401,981 
Stockholders' equity1,405,027 1,304,964 
Performance Metrics
Net interest margin(7)5.40 %5.37 %
Return on average assets(8)1.86 %1.65 %
Return on average tangible common stockholders' equity(9)17.18 %16.13 %
Efficiency ratio(10)52.52 %52.23 %
Full-time equivalent employees, period end2,185 2,222 
Credit Quality Metrics
Allowance for credit losses$188,255 $189,944 
Allowance as a % of loans held for investment2.27 %2.32 %
Net charge-offs$50,170 $33,154 
Net charge-off rate(11)1.22 %0.84 %
Early delinquency rate (30 - 89 days past due)2.51 %2.46 %
Total delinquency rate (30 days and over)3.68 %3.59 %





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OFG Bancorp (NYSE: OFG)
Table 2-1: Consolidated Statements of Operations
Quarter Ended
(Dollars in thousands) (unaudited) June 30, 2026March 31, 2026December 31,
2025		September 30,
2025		June 30,
2025
Interest income: 
Loans
Non-PCD loans $146,862 $142,211 $144,385 $146,665 $141,797 
PCD loans 15,553 16,343 13,826 14,669 15,190 
Total interest income from loans 162,415 158,554 158,211 161,334 156,987 
Investment securities and cash 34,735 35,572 39,011 38,811 37,360 
Total interest income 197,150 194,126 197,222 200,145 194,347 
Interest expense:
Deposits
Core deposits 31,960 31,196 36,482 37,458 35,529 
Brokered deposits 2,164 2,672 2,352 2,284 2,350 
Total deposits 34,124 33,868 38,834 39,742 37,879 
Borrowings 5,727 6,445 5,644 5,679 4,540 
Total interest expense 39,851 40,313 44,478 45,421 42,419 
Net interest income 157,299 153,813 152,744 154,724 151,928 
Provision for credit losses, excluding PCD loans14,825 22,942 33,643 27,591 21,010 
(Recapture of) provision for credit losses on PCD loans(1,819)(459)(1,754)667 668 
Total provision for credit losses 13,006 22,483 31,889 28,258 21,678 
Net interest income after provision for credit losses 144,293 131,330 120,855 126,466 130,250 
Non-interest income:      
Banking service revenues 17,397 16,944 16,550 15,930 15,982 
Wealth management revenues 9,727 8,913 11,378 9,014 8,918 
Mortgage banking activities 5,860 6,131 4,699 4,312 5,347 
Total banking and financial service revenues 32,984 31,988 32,627 29,256 30,247 
Other income (loss), net 39 179 (1,051)2,197 184 
Total non-interest income, net 33,023 32,167 31,576 31,453 30,431 
Non-interest expense:
Compensation and employee benefits 41,176 41,347 43,093 39,836 39,565 
Occupancy, equipment and infrastructure costs 14,273 13,418 15,338 14,994 14,629 
General and administrative expenses 47,859 40,052 46,371 42,239 40,298 
Foreclosed real estate and other repossessed assets (income) expenses, net (476)(114)209 (521)310 
Total non-interest expense 102,832 94,703 105,011 96,548 94,802 
Income before income taxes 74,484 68,794 47,420 61,371 65,879 
Income tax expense (benefit) 15,707 14,857 (8,473)9,533 14,078 
Net income available to common shareholders $58,777 $53,937 $55,893 $51,838 $51,801 

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OFG Bancorp (NYSE: OFG)
Table 2-2: Consolidated Statements of Operations (Continued)
(Dollars in thousands) (unaudited)Six-month period ended June 30,
20262025
Interest income:
Loans
Non-PCD loans$289,073 $279,487 
PCD loans31,896 30,908 
Total interest income from loans320,969 310,395 
Investment securities and cash70,307 73,174 
Total interest income391,276 383,569 
Interest expense:
Deposits
Core deposits63,156 70,174 
Brokered deposits4,836 3,997 
Total deposits67,992 74,171 
Borrowings12,172 8,399 
Total interest expense80,164 82,570 
Net interest income311,112 300,999 
Provision for credit losses, excluding PCD loans37,767 45,820 
Provision for (recapture of) credit losses on PCD loans(2,278)1,546 
Total provision for credit losses35,489 47,366 
Net interest income after provision for credit losses275,623 253,633 
Non-interest income:  
Banking service revenues34,341 31,963 
Wealth management revenues18,640 17,373 
Mortgage banking activities11,991 10,123 
Total banking and financial service revenues64,972 59,459 
Other income, net218 489 
Total non-interest income, net65,190 59,948 
Non-interest expense:
Compensation and employee benefits82,523 79,497 
Occupancy, equipment and infrastructure costs27,691 29,449 
General and administrative expenses87,911 77,970 
Foreclosed real estate and other repossessed assets (income) expenses, net(590)1,338 
Total non-interest expense197,535 188,254 
Income before income taxes143,278 125,327 
Income tax expense30,564 27,954 
Net income available to common shareholders$112,714 $97,373 


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OFG Bancorp (NYSE: OFG)
Table 3: Consolidated Statements of Financial Condition
(Dollars in thousands) (unaudited)June 30, 2026
March 31, 2026
December 31, 2025
September 30, 2025
June 30, 2025
Cash and cash equivalents$745,706 $636,499 $1,040,335 $740,349 $851,798 
Investments:
Trading securities23 24 23 21 18 
Investment securities available-for-sale, at fair value, no allowance for credit losses for any period
Mortgage-backed securities2,370,468 2,457,541 2,508,730 2,564,831 2,406,956 
US treasury securities
2,150 2,131 1,651 1,635 1,399 
Other investment securities500 500 501 503 519 
Total investment securities available-for-sale2,373,118 2,460,172 2,510,882 2,566,969 2,408,874 
Investment securities held-to-maturity, at amortized cost, no allowance for credit losses for any period
Mortgage-backed securities258,698 264,580 269,498 275,116 281,186 
Other investment securities— — — 35,000 35,000 
Total investment securities held-to-maturity258,698 264,580 269,498 310,116 316,186 
Equity securities64,817 63,682 62,738 61,906 59,556 
Total investments2,696,656 2,788,458 2,843,141 2,939,012 2,784,634 
Loans, net8,117,021 8,040,074 8,014,246 7,935,413 8,009,599 
Other assets:
Prepaid expenses25,687 17,050 20,415 150,461 119,766 
Deferred tax asset, net113,343 120,431 104,359 7,468 7,048 
Foreclosed real estate and repossessed properties5,870 6,347 5,947 8,025 7,363 
Premises and equipment, net95,601 92,731 93,554 100,760 102,095 
Goodwill84,241 84,241 84,241 84,241 84,241 
Other intangibles7,884 8,869 9,854 11,086 12,318 
Right of use assets19,640 20,275 21,261 22,694 17,284 
Servicing asset67,867 67,228 66,333 67,437 68,588 
Accounts receivable and other assets175,056 165,700 161,971 162,866 166,776 
Total assets$12,154,572 $12,047,903 $12,465,657 $12,229,812 $12,231,510 
Deposits:
Demand deposits$4,887,404 $5,347,977 $5,799,985 $5,791,959 $5,801,400 
Savings accounts2,358,067 2,367,531 2,259,980 2,208,212 2,131,076 
Time deposits2,498,777 1,943,866 1,862,793 1,819,397 1,963,336 
Brokered deposits238,880 189,898 339,994 189,065 248,353 
Total deposits9,983,128 9,849,272 10,262,752 10,008,633 10,144,165 
Borrowings:
Securities sold under agreements to repurchase100,085 100,086 100,714 100,791 27,463 
Advances from FHLB and other borrowings456,530 456,581 456,590 456,530 456,530 
Total borrowings556,615 556,667 557,304 557,321 483,993 
Other liabilities:  
Acceptances outstanding19,418 22,665 22,442 29,975 27,572 
Lease liability21,376 22,088 23,157 24,681 19,354 
GNMA buy-back option program liability(21)52,938 54,358 56,492 46,716 43,281 
Deferred tax liability, net
615 337 — 50,298 48,374 
Accrued expenses and other liabilities113,210 175,621 153,505 136,771 130,318 
Total liabilities10,747,300 10,681,008 11,075,652 10,854,395 10,897,057 
Stockholders' equity:
Common stock59,885 59,885 59,885 59,885 59,885 
Additional paid-in capital642,019 640,656 642,973 641,350 639,901 
Legal surplus199,429 193,787 188,490 183,614 178,834 
Retained earnings 976,946 938,349 904,630 866,826 833,187 
Treasury stock, at cost(432,061)(432,209)(389,067)(348,957)(328,572)
Accumulated other comprehensive loss, net(38,946)(33,573)(16,906)(27,301)(48,782)
Total stockholders' equity1,407,272 1,366,895 1,390,005 1,375,417 1,334,453 
Total liabilities and stockholders' equity$12,154,572 $12,047,903 $12,465,657 $12,229,812 $12,231,510 

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OFG Bancorp (NYSE: OFG)
Table 4-1: Information on Loan Portfolio and Production
(Dollars in thousands) (unaudited)
June 30, 2026
March 31, 2026
December 31, 2025
September 30, 2025
June 30, 2025
Non-PCD:
Mortgage, excluding GNMA buy-back option program$604,990 $588,642 $582,563 $580,332 $575,423 
Mortgage GNMA buy-back option program(21)52,938 54,358 56,492 46,716 43,281 
Commercial PR2,679,280 2,611,166 2,586,305 2,469,925 2,511,495 
Commercial US871,454 871,640 829,975 831,731 825,254 
Consumer686,883 677,535 683,246 685,740 680,060 
Auto2,623,762 2,630,422 2,636,890 2,646,811 2,661,795 
7,519,307 7,433,763 7,375,471 7,261,255 7,297,308 
Less:  Allowance for credit losses(184,747)(200,111)(198,239)(189,701)(182,765)
Total non-PCD loans held for investment, net7,334,560 7,233,652 7,177,232 7,071,554 7,114,543 
PCD:
Mortgage709,278 730,629 751,291 772,808 795,863 
Commercial PR68,487 70,290 73,889 82,748 86,685 
Consumer316 306 302 337 575 
Auto66 75 89 119 160 
778,147 801,300 825,571 856,012 883,283 
Less:  Allowance for credit losses(3,508)(3,845)(4,102)(8,081)(7,179)
Total PCD loans held for investment, net774,639 797,455 821,469 847,931 876,104 
Total loans held for investment8,109,199 8,031,107 7,998,701 7,919,485 7,990,647 
Mortgage loans held for sale7,822 8,967 12,483 9,680 14,590 
Other loans held for sale— — 3,062 6,248 4,362 
Total loans, net$8,117,021 $8,040,074 $8,014,246 $7,935,413 $8,009,599 
Loan Portfolio Summary:
Loans held for investment:
Mortgage, excluding GNMA buy-back option program$1,314,268 $1,319,271 $1,333,854 $1,353,140 $1,371,286 
Mortgage GNMA buy-back option program(21)52,938 54,358 56,492 46,716 43,281 
Commercial PR2,747,767 2,681,456 2,660,194 2,552,673 2,598,180 
Commercial US871,454 871,640 829,975 831,731 825,254 
Consumer687,199 677,841 683,548 686,077 680,635 
Auto2,623,828 2,630,497 2,636,979 2,646,930 2,661,955 
8,297,454 8,235,063 8,201,042 8,117,267 8,180,591 
Less:  Allowance for credit losses(188,255)(203,956)(202,341)(197,782)(189,944)
Total loans held for investment, net8,109,199 8,031,107 7,998,701 7,919,485 7,990,647 
Mortgage loans held for sale7,822 8,967 12,483 9,680 14,590 
Other loans held for sale— — 3,062 6,248 4,362 
Total loans, net$8,117,021 $8,040,074 $8,014,246 $7,935,413 $8,009,599 
OFG Bancorp (NYSE: OFG)
Table 4-2: Information on Loan Portfolio and Production
  Quarter EndedSix-month period ended June 30,
(Dollars in thousands) (unaudited)June 30, 2026
March 31, 2026
December 31, 2025
September 30, 2025
June 30, 2025
20262025
Loan production(13)
Mortgage $55,565 $41,948 $44,593 $42,392 $55,575 $97,513 $92,589 
Commercial PR 333,408 200,441 201,974 216,560 253,874 533,849 417,106 
Commercial US 95,335 102,733 111,896 116,368 147,193 198,068 205,132 
Consumer 82,287 68,481 68,204 76,027 76,757 150,768 144,616 
Auto 188,440 195,256 178,928 172,558 250,269 383,696 483,166 
Total $755,035 $608,859 $605,595 $623,905 $783,668 $1,363,894 $1,342,609 
7

OFG Bancorp (NYSE: OFG)
Table 5-1: Average Balances, Net Interest Income and Net Interest Margin
2026 Q2
2026 Q1
2025 Q4
2025 Q3
2025 Q2
(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$615,369 $5,493 3.58 %$660,529 $5,855 3.59 %$803,931 $7,898 3.90 %$784,978 $8,555 4.32 %$746,356 $8,078 4.34 %
Investment securities2,721,498 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 %2,756,356 29,282 4.25 %
Loans held for investment
Non-PCD loans7,460,999 146,862 7.90 %7,356,900 142,211 7.84 %7,272,783 144,385 7.88 %7,228,920 146,665 8.05 %7,067,367 141,797 8.05 %
PCD loans784,655 15,553 7.93 %810,538 16,343 8.07 %844,249 13,826 6.55 %869,138 14,669 6.75 %896,523 15,190 6.78 %
Total loans8,245,654 162,415 7.90 %8,167,438 158,554 7.87 %8,117,032 158,211 7.73 %8,098,058 161,334 7.90 %7,963,890 156,987 7.91 %
Total interest-earning assets$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 %$11,466,602 $194,347 6.80 %
Interest bearing liabilities:          
Deposits          
NOW accounts$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 %$3,211,382 $15,451 1.93 %
Savings accounts2,345,584 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 %2,119,036 5,175 0.98 %
Time deposits2,107,062 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 %1,824,006 13,960 3.07 %
Brokered deposits216,327 2,164 4.01 %268,379 2,672 4.04 %230,789 2,352 4.04 %220,362 2,284 4.11 %227,659 2,350 4.14 %
 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 %7,382,083 36,936 2.01 %
Non-interest bearing deposit accounts2,749,022 — — 2,657,430 — — 2,620,452 — — 2,587,913 — — 2,581,877 — — 
Fair value premium and core deposit intangible amortization— 755 — — 755 — — 943 — — 943 — — 943 — 
Total deposits9,921,807 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 %9,963,960 37,879 1.52 %
Borrowings
Securities sold under agreements to repurchase122,685 1,074 3.51 %204,480 1,855 3.68 %100,000 951 3.77 %93,028 986 4.21 %10,517 120 4.56 %
Advances from FHLB and other borrowings457,039 4,653 4.08 %455,820 4,590 4.08 %455,820 4,693 4.08 %455,804 4,693 4.08 %434,303 4,420 4.08 %
Total borrowings579,724 5,727 3.96 %660,300 6,445 3.96 %555,820 5,644 4.03 %548,832 5,679 4.10 %444,820 4,540 4.09 %
Total liabilities
$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 %$10,408,780 $42,419 1.63 %
Interest rate spread $157,299 5.31 % $153,813 5.21 % $152,744 4.97 % $154,724 5.09 % $151,928 5.17 %
Net interest margin  5.45 %  5.36 %  5.12 %  5.24 %  5.31 %
Core deposits: (Non-GAAP)               
NOW accounts$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 %$3,211,382 $15,451 1.93 %
Savings accounts2,345,584 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 %2,119,036 5,175 0.98 %
Time deposits2,107,062 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 %1,824,006 13,960 3.07 %
 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 %7,154,424 34,586 1.94 %
Non-interest bearing deposit accounts2,749,022 — — 2,657,430 — — 2,620,452 — — 2,587,913 — — 2,581,877 — — 
Total core deposits$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 %$9,736,301 $34,586 1.42 %
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings
$579,724 $5,727 3.96 %$660,300 $6,445 3.96 %$555,820 $5,644 4.03 %$548,832 $5,679 4.10 %$444,820 $4,540 4.09 %
Brokered deposits
216,327 2,164 4.01 %268,379 2,672 4.04 %230,789 2,352 4.04 %220,362 2,284 4.11 %227,659 2,350 4.14 %
Total borrowings and brokered deposits
$796,051 $7,891 3.98 %$928,679 $9,117 3.98 %$786,609 $7,996 4.03 %$769,194 $7,963 4.11 %$672,479 $6,890 4.11 %
8

OFG Bancorp (NYSE: OFG)
Table 5-2: Average Balances, Net Interest Income and Net Interest Margin (Continued)
Six-month period ended June 30,
20262025
(Dollars in thousands) (unaudited)Average
Balance		Interest
Income/
Expense		Yield/
Rate		Average
Balance		Interest
Income/
Expense		Yield/
Rate
Interest earning assets:
Cash equivalents$637,824 $11,348 3.59 %$670,264 $14,393 4.33 %
Investment securities2,763,211 58,959 4.27 %2,765,180 58,781 4.25 %
Loans held for investment
Non-PCD loans7,409,238 289,073 7.87 %6,966,335 279,487 8.09 %
PCD loans797,525 31,896 8.00 %908,484 30,908 6.80 %
Total loans8,206,763 320,969 7.89 %7,874,819 310,395 7.95 %
Total interest-earning assets$11,607,798 $391,276 6.80 %$11,310,263 $383,569 6.84 %
Interest bearing liabilities:
Deposits
NOW accounts$2,606,964 $18,879 1.46 %$3,202,286 $30,347 1.91 %
Savings accounts2,332,745 12,672 1.10 %2,106,304 10,202 0.98 %
Time deposits1,990,272 30,096 3.05 %1,809,840 27,738 3.09 %
Brokered deposits242,209 4,836 4.03 %193,132 3,997 4.17 %
7,172,190 66,483 1.87 %7,311,562 72,284 1.99 %
Non-interest bearing deposit accounts2,703,482 — — %2,561,921 — — %
Fair value premium and core deposit intangible amortization— 1,509 — — 1,887 — 
Total deposits9,875,672 67,992 1.39 %9,873,483 74,171 1.51 %
Borrowings
Securities sold under agreements to repurchase163,356 2,929 3.62 %36,878 830 4.54 %
Advances from FHLB and other borrowings456,433 9,243 4.08 %365,103 7,569 4.18 %
Total borrowings619,789 12,172 3.96 %401,981 8,399 4.21 %
Total interest-bearing liabilities$10,495,461 $80,164 1.54 %$10,275,464 $82,570 1.62 %
Interest rate spread$311,112 5.26 %$300,999 5.22 %
Net interest margin 5.40 %5.37 %
Core deposits: (Non-GAAP)
NOW accounts$2,606,964 $18,879 1.46 %$3,202,286 $30,347 1.91 %
Savings accounts2,332,745 12,672 1.10 %2,106,304 10,202 0.98 %
Time deposits1,990,272 30,096 3.05 %1,809,840 27,738 3.09 %
6,929,981 61,647 1.79 %7,118,430 68,287 1.93 %
Non-interest bearing deposit accounts2,703,482 — — %2,561,921 — — %
Total core deposits$9,633,463 $61,647 1.29 %$9,680,351 $68,287 1.42 %
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings
$619,789 $12,172 3.96 %$401,981 $8,399 4.21 %
Brokered deposits
242,209 4,836 4.03 %193,132 3,997 4.17 %
Total borrowings and brokered deposits
$861,998 $17,008 3.98 %$595,113 $12,396 4.20 %
9

OFG Bancorp (NYSE: OFG)
Table 6-1: Loan Information and Performance Statistics
20262026202520252025
(Dollars in thousands) (unaudited)Q2Q1Q4Q3Q2
Net Charge-offs
Non-PCD
Mortgage:
Charge-offs$— $66 $— $— $11 
Recoveries(265)(193)(91)(171)(745)
Total mortgage(265)(127)(91)(171)(734)
Commercial PR:
Charge-offs15,225 75 6,012 1,446 273 
Recoveries(173)(52)(1,275)(922)(88)
Total commercial PR15,052 23 4,737 524 185 
Commercial US:
Charge-offs1,608 3,934 55 3,647 — 
Recoveries(55)— (44)— — 
Total commercial US1,553 3,934 11 3,647 — 
Consumer:     
Charge-offs7,766 8,819 9,023 7,704 6,970 
Recoveries(1,112)(1,068)(964)(896)(848)
Total consumer6,654 7,751 8,059 6,808 6,122 
Auto:     
Charge-offs14,420 18,159 19,002 16,743 14,870 
Recoveries(7,141)(8,159)(7,070)(7,108)(7,570)
Total auto7,279 10,000 11,932 9,635 7,300 
Total$30,273 $21,581 $24,648 $20,443 $12,873 
PCD
Mortgage:
Charge-offs$— $6 $— $— $59 
Recoveries(78)(167)(239)(281)(91)
Total mortgage(78)(161)(239)(281)(32)
Commercial PR:     
Charge-offs— — 3,223 205 31 
Recoveries(1,380)(21)(734)(118)(63)
Total commercial PR(1,380)(21)2,489 87 (32)
Consumer:     
Charge-offs— — — — 1 
Recoveries(13)(6)(6)(10)(11)
Total consumer(13)(6)(6)(10)(10)
Auto:     
Charge-offs— — 6 2 13 
Recoveries(11)(14)(25)(33)(28)
Total auto(11)(14)(19)(31)(15)
Total$(1,482)$(202)$2,225 $(235)$(89)
Total Net Charge-offs$28,791 $21,379 $26,873 $20,208 $12,784 
Net Charge-off Rates     
Mortgage(0.10)%(0.09)%(0.10)%(0.13)%(0.22)%
Commercial PR2.01 %— %1.11 %0.10 %0.02 %
Commercial US0.71 %1.85 %0.01 %1.74 %— %
Consumer3.78 %4.40 %4.55 %3.85 %3.50 %
Auto1.11 %1.52 %1.81 %1.45 %1.11 %
Total1.40 %1.05 %1.32 %1.00 %0.64 %
Average Loans Held For Investment     
Mortgage$1,313,065 $1,322,249 $1,341,058 $1,361,765 $1,379,986 
Commercial PR2,726,998 2,654,345 2,596,971 2,536,829 2,463,009 
Commercial US876,561 849,850 834,224 836,527 786,637 
Consumer702,519 704,872 707,401 705,945 698,581 
Auto2,626,511 2,636,122 2,637,378 2,656,992 2,635,677 
Total$8,245,654 $8,167,438 $8,117,032 $8,098,058 $7,963,890 

10

OFG Bancorp (NYSE: OFG)
Table 6-2: Loan Information and Performance Statistics (Excludes PCD Loans)
20262026202520252025
(Dollars in thousands) (unaudited)Q2Q1Q4Q3Q2
Early Delinquency (30 - 89 days past due)     
Mortgage$11,258 $8,287 $10,709 $11,474 $10,313 
Commercial6,308 4,309 2,004 9,423 3,121 
Consumer13,410 13,615 15,341 15,000 13,093 
Auto157,876 138,020 178,100 170,075 152,732 
Total $188,852 $164,231 $206,154 $205,972 $179,259 
Early Delinquency Rates (30 - 89 days past due)     
Mortgage1.71 %1.29 %1.68 %1.83 %1.67 %
Commercial0.18 %0.12 %0.06 %0.29 %0.09 %
Consumer1.95 %2.01 %2.25 %2.19 %1.93 %
Auto6.02 %5.25 %6.75 %6.43 %5.74 %
Total2.51 %2.21 %2.80 %2.84 %2.46 %
Total Delinquency (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation$21,430 $20,192 $22,246 $22,657 $19,946 
GNMA's buy-back option program(21)52,938 54,358 56,492 46,716 43,281 
Total mortgage74,368 74,550 78,738 69,373 63,227 
Commercial12,777 8,052 11,534 20,592 14,282 
Consumer17,139 17,343 19,519 18,942 16,839 
Auto172,395 152,912 198,779 185,964 167,653 
Total$276,679 $252,857 $308,570 $294,871 $262,001 
Total Delinquency Rates (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation3.26 %3.14 %3.48 %3.61 %3.22 %
GNMA's buy-back option program(21)8.05 %8.45 %8.84 %7.45 %7.00 %
Total mortgage11.30 %11.59 %12.32 %11.06 %10.22 %
Commercial0.36 %0.23 %0.34 %0.62 %0.43 %
Consumer2.50 %2.56 %2.86 %2.76 %2.48 %
Auto6.57 %5.81 %7.54 %7.03 %6.30 %
Total3.68 %3.40 %4.18 %4.06 %3.59 %
Nonperforming Assets(14)
Mortgage$16,238 $17,921 $17,400 $17,426 $15,804 
Commercial32,474 84,004 87,253 53,428 54,003 
Consumer3,798 3,837 4,378 4,194 3,790 
Auto14,580 14,934 20,750 15,962 14,968 
Total nonperforming loans67,090 120,696 129,781 91,010 88,565 
Foreclosed real estate1,675 2,037 2,490 3,160 2,603 
Other repossessed assets4,195 4,310 3,457 4,865 4,760 
Total nonperforming assets$72,960 $127,043 $135,728 $99,035 $95,928 
Nonperforming Loan Rates     
Mortgage2.47 %2.79 %2.72 %2.78 %2.55 %
Commercial0.91 %2.41 %2.55 %1.62 %1.62 %
Consumer0.55 %0.57 %0.64 %0.61 %0.56 %
Auto0.56 %0.57 %0.79 %0.60 %0.56 %
Total loans0.89 %1.62 %1.76 %1.25 %1.21 %

11

OFG Bancorp (NYSE: OFG)
Table 6-3: Loan Information and Performance Statistics
 20262026202520252025
(Dollars in thousands) (unaudited) Q2Q1Q4Q3Q2
Nonperforming PCD Loans(14)
Mortgage $221 $224 $227 $230 $233 
Commercial — 24 55 7,803 8,603 
Total nonperforming loans $221 $248 $282 $8,033 $8,836 
Nonperforming PCD Loan Rates      
Mortgage 0.03 %0.03 %0.03 %0.03 %0.03 %
Commercial 0.00 %0.03 %0.07 %9.43 %9.92 %
Total 0.03 %0.03 %0.03 %0.94 %1.00 %
Total PCD Loans Held for Investment     
Mortgage $709,278 $730,629 $751,291 $772,808 $795,863 
Commercial 68,487 70,290 73,889 82,748 86,685 
Consumer 316 306 302 337 575 
Auto66 75 89 119 160 
Total loans $778,147 $801,300 $825,571 $856,012 $883,283 
Total Nonperforming Loans(14)     
Mortgage $16,459 $18,145 $17,627 $17,656 $16,037 
Commercial 32,474 84,028 87,308 61,231 62,606 
Consumer 3,798 3,837 4,378 4,194 3,790 
Auto 14,580 14,934 20,750 15,962 14,968 
Total nonperforming loans $67,311 $120,944 $130,063 $99,043 $97,401 
Total Nonperforming Loan Rates 
Mortgage 1.20 %1.32 %1.27 %1.26 %1.13 %
Commercial 0.90 %2.36 %2.50 %1.81 %1.83 %
Consumer 0.55 %0.57 %0.64 %0.61 %0.56 %
Auto 0.56 %0.57 %0.79 %0.60 %0.56 %
Total 0.81 %1.47 %1.59 %1.22 %1.19 %
Total Loans Held for Investment     
Mortgage $1,367,206 $1,373,629 $1,390,346 $1,399,856 $1,414,567 
Commercial 3,619,221 3,553,096 3,490,169 3,384,404 3,423,434 
Consumer 687,199 677,841 683,548 686,077 680,635 
Auto 2,623,828 2,630,497 2,636,979 2,646,930 2,661,955 
Total loans $8,297,454 $8,235,063 $8,201,042 $8,117,267 $8,180,591 
(a) Refer to “(a)” in Table 1-1.



12

OFG Bancorp (NYSE: OFG)
Table 7: Allowance for Credit Losses
Quarter Ended June 30, 2026
(Dollars in thousands) (unaudited)MortgageCommercialConsumerAutoTotal
Allowance for credit losses Non-PCD:     
Balance at beginning of period$6,243 $68,408 $32,998 $92,462 $200,111 
(Recapture of) provision for credit losses(194)904 7,413 6,786 14,909 
Charge-offs— (16,833)(7,766)(14,420)(39,019)
Recoveries265 228 1,112 7,141 8,746 
Balance at end of period$6,314 $52,707 $33,757 $91,969 $184,747 
Allowance for credit losses PCD:
Balance at beginning of period$3,338 $495 $10 $2 $3,845 
Recapture of provision for credit losses(273)(1,521)(13)(12)(1,819)
Charge-offs— — — — — 
Recoveries78 1,380 13 11 1,482 
Balance at end of period$3,143 $354 $10 $1 $3,508 
Allowance for credit losses summary:
Balance at beginning of period$9,581 $68,903 $33,008 $92,464 $203,956 
(Recapture of) provision for credit losses(467)(617)7,400 6,774 13,090 
Charge-offs— (16,833)(7,766)(14,420)(39,019)
Recoveries343 1,608 1,125 7,152 10,228 
Balance at end of period$9,457 $53,061 $33,767 $91,970 $188,255 
Allowance coverage ratio0.69 %1.47 %4.91 %3.51 %2.27 %

) Refer to “(c)” in Table 1-1.



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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.
20262026202520252025
(Dollars in thousands) (unaudited)Q2Q1Q4Q3Q2
Stockholders' Equity to Non-GAAP Tangible Common Equity
Total stockholders' equity$1,407,272 $1,366,895 $1,390,005 $1,375,417 $1,334,453 
Less:  Intangible assets(92,124)(93,110)(94,096)(95,327)(96,559)
Tangible common equity (Non-GAAP)$1,315,148$1,273,785$1,295,909$1,280,090$1,237,894
     
Common shares outstanding at end of period42,265 42,257 43,257 44,265 44,742 
Tangible book value per common share (Non-GAAP)$31.12 $30.14 $29.96 $28.92 $27.67 
Total Assets to Non-GAAP Tangible Assets     
Total assets  $12,154,572 $12,047,903 $12,465,657 $12,229,812 $12,231,510 
Less:  Intangible assets(92,124)(93,110)(94,096)(95,327)(96,559)
Tangible assets (Non-GAAP)$12,062,448 $11,954,793 $12,371,561 $12,134,485 $12,134,951 
Non-GAAP TCE Ratio     
Tangible common equity$1,315,148$1,273,785$1,295,909$1,280,090$1,237,894
Tangible assets12,062,448 11,954,793 12,371,561 12,134,485 12,134,951 
TCE ratio10.90 %10.66 %10.47 %10.55 %10.20 %
Average Equity to Non-GAAP Average Tangible Common Equity
Average total stockholders' equity$1,403,137 $1,406,938 $1,394,097 $1,361,055 $1,318,886 
Less:  Average intangible assets(92,471)(93,460)(94,528)(95,756)(96,983)
Average tangible common equity (Non-GAAP)$1,310,666$1,313,478$1,299,569$1,265,299$1,221,903




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OFG Bancorp (NYSE: OFG)
Table 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures (Continued)
BASEL III
Standardized
20262026 202520252025
(Dollars in thousands) (unaudited)Q2Q1 Q4Q3Q2
Regulatory Capital Metrics      
Common equity Tier 1 capital$1,359,866$1,312,874$1,318,632$1,313,558$1,293,041
Tier 1 capital1,359,8661,312,8741,318,6321,313,5581,293,041
Total risk-based capital(15)1,481,5041,433,2711,437,5951,430,7131,409,447
Risk-weighted assets9,666,8529,550,8609,436,0109,298,5569,245,125
Regulatory Capital Ratios
Common equity Tier 1 capital ratio(16)14.07 %13.75 %13.97 %14.13 %13.99 %
Tier 1 risk-based capital ratio(17)14.07 %13.75 %13.97 %14.13 %13.99 %
Total risk-based capital ratio(18)15.33 %15.01 %15.24 %15.39 %15.25 %
Leverage ratio(19)11.23 %10.88 %10.71 %10.75 %10.83 %
 
Common Equity Tier 1 Capital Ratio Under Basel III Standardized Approach
Total stockholders' equity$1,407,272 $1,366,895 $1,390,005 $1,375,417 $1,334,453 
Plus: Unrealized losses on available-for-sale securities, net of
         income tax		38,94633,57316,90627,30148,782
Total adjusted stockholders’equity1,446,2181,400,4681,406,9111,402,7181,383,235
Less: Disallowed goodwill, net(79,321)(79,764)(79,700)(79,889)(80,079)
  Disallowed other intangible assets, net(7,031)(7,729)(8,429)(9,271)(10,115)
  Disallowed deferred tax assets, net—(101)(150)——
Common equity Tier 1 capital and Tier 1 capital1,359,8661,312,8741,318,6321,313,5581,293,041
Plus Tier 2 capital: Qualifying allowance for credit losses121,638120,397118,963117,155116,406
Total risk-based capital$1,481,504 $1,433,271 $1,437,595 $1,430,713 $1,409,447 



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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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