OFG Bancorp (NYSE:OFG) Q1 2021 Earnings Conference Call April 21, 2021 10:00 AM ET Company Participants Jose Rafael Fernandez - President, Chief Executive Officer and Vice Chairman Maritza Arizmendi - Executive Vice President-Chief Financial Officer Conference Call Participants Alexander Twerdahl - Piper Sandler Glen Manna - Keefe, Bruyette, & Woods Steven Martin - Slater Operator Good morning. Thank you for joining OFG Bancorp's Conference Call. My name is Maria, and I will be your conference operator toda ...

Quarterly Results 1Q21 Conference Call April 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, bu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2020 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 No. 001-12647 OFG Bancorp Incorporated in the Commonwealth of Puerto Rico, IRS Employer Identification No. 66-0538893 Princip ...

OFG Bancorp (NYSE:OFG) Q4 2020 Earnings Conference Call January 25, 2021 10:00 AM ET Company Participants José Rafael Fernández - President, Chief Executive Officer and Vice Chairman Maritza Arizmendi Díaz - Executive Vice President and Chief Financial Officer Conference Call Participants Alex Twerdahl - Piper Sandler Glen Manna - Keefe, Bruyette & Woods Operator Good morning. Thank you for joining OFG Bancorp's Conference Call. My name is Christie, and I will be your operator today. Our speakers for today ...

Quarterly Results 4Q20 Conference Call January 25, 2020 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, ...

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, 2020 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 2020 Earnings Conference Call October 22, 2020 10:00 AM ET Company Participants Jose Fernandez - President, CEO and Vice Chairman Maritza Arizmendi - EVP and CFO Conference Call Participants Alex Twerdahl - Piper Sandler Joe Gladue - Alden Securities Glen Manna - Keefe, Bruyette & Woods Operator Good morning. Thank you for joining OFG Bancorp’s Conference Call. My name is Maria, and I will be your operator today. Our speakers are, Jose Rafael Fernandez, President, Chief Executive O ...

Quarterly Results 3Q20 Conference Call October 23, 2020 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, ...

Financial Performance - Net income for the quarter ended June 30, 2020, was $21,787,000, a decrease of 9.1% compared to $23,979,000 in the same quarter of 2019[26]. - Earnings per common share for the quarter was $0.39, down from $0.44 in the same quarter of 2019, representing a decrease of 11.4%[24]. - Comprehensive income for the quarter ended June 30, 2020, was $23,085,000, a decrease of 18.5% from $28,340,000 in the prior year[26]. - The company reported a net gain of $3,462 thousand from the bargain purchase related to the Scotiabank PR & USVI acquisition[22]. - The company reported a total of $1,393.9 million in carrying amount for acquired loans with deteriorated credit quality as of December 31, 2019[107]. Assets and Liabilities - Total assets increased to $9,932,719 thousand as of June 30, 2020, up from $9,297,661 thousand at December 31, 2019, representing a growth of 6.8%[17]. - Total liabilities increased to $8,891,435 thousand, up from $8,252,183 thousand at the end of 2019, representing a rise of 7.8%[20]. - Stockholders' equity slightly decreased to $1,041,284 thousand from $1,045,478 thousand at December 31, 2019[20]. - Cash and cash equivalents totaled $1,898,987 thousand as of June 30, 2020, significantly up from $851,307 thousand at December 31, 2019, indicating a growth of 123.5%[17]. - The total cash, cash equivalents, and restricted cash at the end of the period reached $1,900,037 thousand, up from $677,430 thousand at the end of the same period in 2019, representing a growth of 180.5%[33]. Deposits and Interest Income - Total deposits rose to $8,541,926 thousand, an increase of 11% from $7,698,610 thousand at the end of 2019[20]. - Net interest income for the quarter ended June 30, 2020, was $105,060 thousand, a 29.5% increase compared to $81,085 thousand for the same period in 2019[22]. - The weighted average interest rate of deposits was 0.82% as of June 30, 2020, slightly down from 0.86% as of December 31, 2019[163]. - Interest expense for the six-month period ended June 30, 2020, was $32.1 million, compared to $19.0 million for the same period in 2019, indicating a significant increase[163]. Credit Losses and Provisions - Provision for credit losses was $17,696 thousand for the quarter, slightly down from $17,705 thousand in the same quarter of the previous year[22]. - Provision for credit losses rose significantly to $64,827,000 for the six-month period ended June 30, 2020, compared to $29,954,000 in the same period of 2019, reflecting a 116.5% increase[31]. - The allowance for credit losses was $232.7 million, reflecting an increase of $81.2 million compared to the previous period[102]. - The provision for credit losses for the quarter ended June 30, 2020, was $15.2 million, which included a charge-off of $18.2 million and recoveries of $4.5 million[142]. Loan Portfolio - Loans held for investment increased to $6,719,811 thousand, up from $6,622,256 thousand at December 31, 2019, reflecting a growth of 1.5%[17]. - The total loans, net, stood at $6,739.2 million, with a significant portion attributed to the auto loan segment, which accounted for $1,454.9 million[102]. - The total loans past due represented approximately 4.1% of the total loans held for investment as of June 30, 2020[105]. - The aging of loans held for investment showed a total of $276.9 million in loans past due as of June 30, 2020, with $145.4 million in loans 30-59 days past due and $72.1 million in loans 60-89 days past due[105]. Acquisitions and Mergers - Oriental acquired Scotiabank de Puerto Rico for an aggregate purchase price of $550 million, merging it with Oriental Bank immediately after the acquisition[81]. - As of June 30, 2020, Oriental's total identifiable assets acquired from the Scotiabank acquisition were valued at $3.56 billion, with total identifiable net assets of $434.6 million[83]. - The merger and restructuring charges related to the Scotiabank acquisition amounted to $3.006 million for the quarter ended June 30, 2020, and $3.310 million for the six-month period[85]. Tax and Regulatory Compliance - The effective tax rate for the six-month period ended June 30, 2020, was 24.2%, down from 32.1% for the same period in 2019[184]. - Oriental's total unrecognized tax benefits decreased from $2.7 million as of December 31, 2019, to $1.2 million as of June 30, 2020[185]. - As of June 30, 2020, OFG Bancorp and the Bank met all capital adequacy requirements and were categorized as "well capitalized" under regulatory standards[193]. - The minimum capital ratios required under Basel III include 4.5% CET1 to risk-weighted assets and 6.0% Tier 1 capital to risk-weighted assets[189]. Strategic Initiatives - The company plans to continue focusing on strategic initiatives to enhance operational efficiency and market expansion[25]. - The company has implemented various loan modification programs in response to the economic impacts of Covid-19, with most modifications not classified as troubled debt restructurings (TDRs)[77].

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, 2020 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. ...