Octopus Future Generations VCT plc Annual Report for the period ended 31 December 2024 and Notice of Meeting Further to the announcement of annual results for the period ended 31 December 2024, Octopus Future Generations VCT plc (the ‘Company’) announces that the Annual Report has been posted or otherwise made available to shareholders. A copy of the Annual Report is also available to view on the Company’s website at http://www.octopusinvestments.com The Annual Report includes the Notice of Meeting for the ...

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OCTOPUS FUTURE GENERATIONS VCT PLC Annual report and financial statements for the period ended 31 December 2024 Octopus Future Generations VCT plc (‘Future Generations VCT’ or the ‘Company’) is backing businesses that aim to address some of society’s biggest challenges, providing an opportunity for investors to share in the growth of ambitious, purpose‑driven companies. The Company is managed by Octopus AIF Management Limited (the ‘Manager’), which has delegated investment management to Octopus Investments ...

OFG Bancorp (OFG) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individual investo ...

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OFG Bancorp (NYSE:OFG) Q1 2025 Earnings Conference Call April 23, 2025 10:00 AM ET Company Participants Jose Rafael Fernandez - Chairman & Chief Executive Officer Maritza Arizmendi - Chief Financial Officer Cesar Ortiz - Chief Risk Officer Conference Call Participants Frank Schiraldi - Piper Sandler Timur Braziler - Wells Fargo Brett Rabatin - Hovde Group Kelly Motta - KBW Operator Good morning. Thank you for joining OFG Bancorp's Conference Call. My name is Madison, I will be your operator today. Our speak ...

In addition to our financial information presented in accordance with GAAP, management uses certain "non-GAAP financial measures" within the meaning of the 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 Financial Supplement for a reconciliation of GAAP to non-GAAP measures and calculations for the quarter ended March 31, 2025 at www.ofgbancorp.com. Forward Looking Statements The information included in this ...

Company Performance - OFG Bancorp reported quarterly earnings of $1 per share, missing the Zacks Consensus Estimate of $1.02 per share, and down from $1.05 per share a year ago, representing an earnings surprise of -1.96% [1] - The company posted revenues of $178.59 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.86% and up from $174.16 million year-over-year [2] - Over the last four quarters, OFG has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - OFG shares have declined approximately 14.1% since the beginning of the year, compared to a decline of -10.1% for the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $1.03 on revenues of $178.85 million, and for the current fiscal year, it is $4.18 on revenues of $719.96 million [7] Industry Outlook - The Zacks Industry Rank for Banks - Northeast, to which OFG belongs, is currently in the top 23% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can significantly impact stock performance [5][8]

Financial Performance - 1Q25 diluted EPS was $1.00, down from $1.09 in 4Q24 and $1.05 in 1Q24[1] - Total core revenues for 1Q25 were $178.3 million, compared to $181.9 million in 4Q24 and $174.2 million in 1Q24[1] - Net income available to common stockholders for Q1 2025 was $45,572, down from $50,347 in Q4 2024, a decline of 15.0%[28] - The efficiency ratio improved to 52.42% in Q1 2025 from 54.82% in Q4 2024[26] Interest Income and Margin - Net interest margin for 1Q25 was 5.42%, with a return on average assets of 1.56% and return on average tangible common equity of 15.28%[3] - Total interest income decreased to $189.2 million in 1Q25 from $190.2 million in 4Q24, impacted by two fewer business days[4] - Net interest income for Q1 2025 was $149,071, a slight decrease from $149,138 in Q4 2024[26] Loans and Credit Losses - Total provision for credit losses was $25.7 million in 1Q25, compared to $30.2 million in 4Q24, reflecting increased loan volume[7] - New loan production for 1Q25 was $558.9 million, down from $609.0 million in 4Q24, with seasonal declines in Puerto Rico lending[12] - Total loans held for investment increased to $7,852,644 thousand in Q1 2025 from $7,791,962 thousand in Q4 2024, representing a growth of 0.78%[37] - The net charge-off rate for Q1 2025 was 1.05%, up from 0.82% in Q4 2024[26] Deposits and Capital - Customer deposits increased by $308.4 million to $9.76 billion in 1Q25, driven by growth in demand, savings, and time deposits[13] - CET1 ratio was 14.3% in 1Q25, reflecting strong capital levels[2] - The company repurchased $23.4 million of common shares and increased the common dividend by 20% during the quarter[2] Asset and Equity Growth - Total assets increased to $11,729,257 thousand as of March 31, 2025, up from $11,500,734 thousand in the previous quarter, representing a growth of 1.99%[29] - Total stockholders' equity increased to $1,295,361,000 in Q1 2025 from $1,254,371,000 in Q4 2024, indicating a growth of approximately 3.4%[42] - Book value per common share increased to $28.83 in Q1 2025 from $27.60 in Q4 2024[26] Nonperforming Loans and Delinquency - Total nonperforming loans decreased to $87,484 thousand in Q1 2025 from $82,983 thousand in Q4 2024, indicating a reduction of 5.69%[37] - The total delinquency rate (30 days and over past due) for all loans was 3.49% in Q4 2024, down from 4.38% in Q3 2024, showing a decline of 20.27%[35] - Early delinquency rates (30 - 89 days past due) for auto loans were 4.96% in Q1 2025, down from 6.67% in Q4 2024, a decrease of 25.66%[35] Charge-Offs - Total net charge-offs for Q1 2025 were $20,370,000, an increase from $15,862,000 in Q4 2024, representing a 28.5% rise[33] - Consumer charge-offs in Q1 2025 reached $8,252,000, slightly up from $8,242,000 in Q4 2024, indicating a marginal increase of 0.1%[33] - Total mortgage charge-offs in Q1 2025 were $23,000, compared to $24,000 in Q4 2024, indicating a decrease of 4.2%[33] Ratios and Capital Calculations - The tangible common equity (TCE) ratio for Q1 2025 was reported at 10.30%, an increase from 10.13% in Q4 2024[41] - Common equity Tier 1 capital ratio is calculated based on Common equity Tier 1 capital divided by risk-weighted assets [16] - Total risk-based capital ratio is calculated based on Total risk-based capital divided by risk-weighted assets [18]

Group 1 - The offer for subscription by Octopus Future Generations VCT plc has closed to new applications after reaching £5 million [1]