Quarterly Results 1Q22 Conference Call April 21, 2022 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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File No. 001-12647 OFG Bancorp Incorporated in the Commonwealth of Puerto Rico, IRS Employer Identification No. ...

Financial Data and Key Metrics Changes - Fourth quarter diluted earnings per share was $0.66, down from $0.81 in the third quarter and up from $0.42 year-over-year [4] - Core revenues totaled $141 million, an increase of 5% quarter-over-quarter and 6% year-over-year [4] - Pre-provision net revenues were $56 million, similar to the third quarter but 26% greater than the previous year [5] - Total assets at year-end were $9.9 billion, with customer deposits declining by $641 million to $8.6 billion [6] - The CET1 ratio increased by 69 basis points, indicating a strong capital position [10] Business Line Data and Key Metrics Changes - Loan growth in priority areas included a 5% increase in commercial loans (excluding PPP), a 9% increase in consumer loans, and a 1% increase in auto loans [7] - New loan origination for the quarter was $633 million, reflecting strong demand across various loan types [7] - Total core revenue growth was driven by a $4.7 million increase in banking and wealth management revenue [13] Market Data and Key Metrics Changes - Customer deposits decreased due to withdrawals by government-related and institutional clients, partially offset by increased retail deposits [6] - Average loan balances totaled $6.5 billion, reflecting a decline of $14 million from the third quarter [16] - The net interest margin increased to 4.18%, driven by a decrease in the cost of interest paid [19] Company Strategy and Development Direction - The company is focused on digital transformation, enhancing customer experience, and investing in technology [11] - There is an emphasis on building a culture of excellence and customer service, with ongoing investments in talent and technology [11] - The company aims to leverage the economic momentum in Puerto Rico and deploy excess liquidity for loan growth [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the economic growth cycle in Puerto Rico, anticipating continued loan growth [23][30] - The exit from bankruptcy is expected to improve Puerto Rico's standing in the business community and facilitate infrastructure investments [39] - The company plans to maintain a strong capital return strategy while focusing on loan growth and community support [41] Other Important Information - The company completed a $50 million share buyback and increased its common stock dividend to $0.12 per share [10] - Non-interest expenses increased by $8 million, primarily due to investments in people and technology [5][14] - The efficiency ratio for the fourth quarter was 61.4%, up from 58.6% in the third quarter, with expectations to remain in the low 50% range in 2022 [15] Q&A Session Summary Question: Commentary on loan growth and expectations for the next quarters - Management confirmed strong commercial loan growth and expressed optimism for continued growth in 2022, particularly in consumer loans and commercial lending [30][33] Question: Expectations for PPP forgiveness and related fees - Management expects the remaining $87 million in PPP loans to be forgiven by mid-year, with $2.3 million in fees recognized this quarter [34][35] Question: Implications of exiting bankruptcy for the company - Exiting bankruptcy is seen as a positive development, allowing for infrastructure investments and improved access to markets [39] Question: Capital return expectations for 2022 - Management indicated no reason to expect a reduction in capital returns, with a focus on loan growth and maintaining dividends [40][41] Question: Impact of deposit decline on margin and future expectations - Management anticipates a gradual increase in margin due to changes in deposit mix and continued investment in loan balances [78] Question: Technology spending and its impact on expenses - Technology spending is expected to increase as part of the company's strategy to enhance customer service and operational efficiency [81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 001-12647 OFG Bancorp Incorporated in the Commonwealth of Puerto Rico, IRS Employer Identification ...

OFG Bancorp (NYSE:OFG) Q3 2021 Earnings Conference Call October 20, 2021 10:00 AM ET Company Participants Jose Fernandez - Chief Executive Officer Maritza Arizmendi - Chief Financial Officer Conference Call Participants Alexander Twerdahl - Piper Sandler & Co. Steven Martin - Slater Capital Management, LLC Operator Good morning. Thank you for joining OFG Bancorp's Conference Call. My name is Ashley, and I will be your operator today. Our speakers today are Jose Rafael Fernandez, Chief Executive Officer and ...

Quarterly Results 3Q21 Conference Call October 20, 2021 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 b ...

FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 001-12647 OFG Bancorp Incorporated in the Commonwealth of Puerto Rico, IRS Employer Identification No. ...

Financial Data and Key Metrics Changes - The company reported earnings of $0.78 per share for Q2 2021, reflecting a strong performance driven by digitalization and customer service differentiation [5] - Total core revenues increased by more than 4% to $133 million, supported by a 12% reduction in cost of funds and a 2% growth in interest income [8][16] - Return on average assets was 1.58%, significantly higher than previous quarters, and return on average tangible common equity was 17.8%, exceeding the baseline target of more than 12% [19] Business Line Data and Key Metrics Changes - Revenues from banking services grew 11% from the first quarter and 34% year-over-year, while financial services revenues increased 12% from the first quarter and 30% year-over-year [17] - New loan origination increased by 28% from the first quarter to $674 million, with significant contributions from commercial and auto loans [10][22] - Non-interest expenses totaled $83 million, reflecting a $5 million increase from the first quarter but a decline of $2.9 million year-over-year [18] Market Data and Key Metrics Changes - Customer deposits increased by $350 million to $9.1 billion, indicating greater liquidity among commercial and consumer customers [9] - The net interest margin was 4.22%, a slight decline of four basis points from the first quarter, primarily due to increased cash levels [24] - The company noted that asset quality trends continued to improve, with net charge-offs at a historical low of 13 basis points [25] Company Strategy and Development Direction - The company is focused on capital management strategies and exploring opportunities to deploy excess liquidity through lending and investments [29][47] - The management emphasized the importance of digital banking services, which have maintained high utilization rates even as the pandemic subsides [12] - The company plans to launch online educational videos to assist small businesses in optimizing their operations [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding Puerto Rico's economic recovery, supported by federal reconstruction and COVID stimulus funds [6][29] - The competitive landscape has changed, with only three commercial banks serving the market, which is expected to provide growth opportunities [6][70] - Management anticipates that the economic revival will lead to increased commercial loan growth and a more robust business environment [35][72] Other Important Information - The company has a significant cash position and is reviewing capital deployment options, including potential dividends or buybacks [43][45] - The company continues to build its U.S. loan program, focusing on middle market and small commercial loans as part of its diversification strategy [85][87] Q&A Session Summary Question: Commercial loan growth and inflection point - Management is encouraged by the commercial loan growth and sees optimism in the business sector, indicating a potential inflection point for growth [35] Question: Breakdown of commercial loan growth - Most of the commercial loan growth is attributed to C&I loans, with about 50% for new business operations and the other 50% for refinancing [37] Question: NIM contribution from PPP - The PPP loan program's impact on net interest income was minimal, contributing only two basis points this quarter [38] Question: Strategy for cash position - Management is reviewing capital deployment options and will communicate decisions regarding the significant cash position [43] Question: Efficiency ratio target - Management indicated that achieving a mid to low 50% efficiency ratio will require interest rate hikes in addition to expense management [62] Question: Competition for deposits - Competition for deposits is strong, particularly on the commercial side, with aggressive pricing strategies [70] Question: Macroeconomic changes and loan loss provisions - Changes in loan loss provisions are based on credit performance rather than macroeconomic assumptions [73] Question: CET ratio and excess capital - The company has around 250 to 300 basis points of excess capital and is closely monitoring capital management strategies [83] Question: M&A opportunities - Management does not see any M&A opportunities in Puerto Rico at this time [84]

Quarterly Results 2Q21 Conference Call July 21, 2021 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 Principal Executive Offices: 254 Muñoz Rivera Avenue San Juan, Puerto Rico 00918 Telephone Number: (787) 771-6800 Common shares, par value $1.00 per share OFG New York Stock Exchange Title of each class Trading Symbol(s) Name of each exchange on which registered or ☐ TRANSITION REPO ...