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OFG Bancorp, a financial holding company, provides a range of banking and financial services in the United States. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers savings accounts, certificates of deposit, individual retirement accounts personal, and commercial non-interest and interest-bearing checking accounts; time deposit products; and corporate trust services. It also provides commercial loans, auto loans, mortgage loans, as well as consumer loans, such as personal loans, residential solar panel loans, credit cards, lines of credit, and other loans; mortgage banking services; sale of loans and securitization activities; wealth management activities comprising securities brokerage, insurance agency, captive reinsurance, trust services, and other financial services; and various investment alternatives, such as tax-advantaged fixed income securities, mutual funds, stocks, and bonds to retail and institutional clients. In addition, the company's portfolio consists of mortgage-backed securities, obligations of U.S. government-sponsored agencies, U.S. Treasury securities, and money market instruments; and engages in the asset/liability management activities, such as purchases and sales of investment securities, interest rate risk management, derivatives, and borrowings. The company was founded in 1964 and is headquartered in San Juan, Puerto Rico.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $680M | - | $205M | $199M | 14.8% | 2.9% | 3.5% |
| 2024 | $661M | - | $198M | $211M | 15.8% | 3.2% | 9.0% |
| 2023 | $640M | - | $182M | $278M | 15.2% | 13.3% | 9.4% |
| 2022 | $565M | - | $166M | $133M | 15.9% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 565.01 | 640.14 | 660.94 | 680.22 |
| Operating Revenue | - | 565.01 | 640.14 | 660.94 | 680.22 |
| Selling General And Administration | - | 161.07 | 176.42 | 178.53 | 186.57 |
| Interest Income | - | 515.57 | 648.88 | 750.28 | 780.94 |
| Interest Expense | - | 33.49 | 88.01 | 161.84 | 172.47 |
| Net Interest Income | - | 482.08 | 560.87 | 588.44 | 608.47 |
| Pretax Income | - | 244.10 | 265.25 | 253.75 | 234.12 |
| Tax Provision | - | 77.87 | 83.38 | 55.58 | 29.01 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.01 | 0 | -0.74 | -0.62 |
| Net Income Continuous Operations | - | 166.24 | 181.87 | 198.17 | 205.10 |
| Net Income From Continuing And Discontinued Operation | - | 166.24 | 181.87 | 198.17 | 205.10 |
| Net Income From Continuing Operation Net Minority Interest | - | 166.24 | 181.87 | 198.17 | 205.10 |
| Net Income | - | 166.24 | 181.87 | 198.17 | 205.10 |
| Net Income Common Stockholders | - | 166.24 | 181.87 | 198.17 | 205.10 |
| Net Income Including Noncontrolling Interests | - | 166.24 | 181.87 | 198.17 | 205.10 |
| Normalized Income | - | 166.21 | 181.87 | 200.83 | 209.48 |
| Diluted NI Availto Com Stockholders | - | 166.24 | 181.87 | 198.17 | 205.10 |
| Basic Average Shares | - | 48.03 | 47.26 | 46.64 | 44.55 |
| Diluted Average Shares | - | 48.44 | 47.55 | 46.90 | 44.76 |
| Reconciled Depreciation | - | 24.31 | 27.29 | 26.79 | 25.39 |
| Total Unusual Items | - | 0.04 | -3.20 | -3.40 | -5 |
| Total Unusual Items Excluding Goodwill | - | 0.04 | -3.20 | -3.40 | -5 |
| Preferred Stock Dividends | 1.25 | - | - | - | - |
| Special Income Charges | - | 0.04 | -3.20 | -3.40 | -5 |
| Other Special Charges | 5.63 | 1.57 | - | - | -1.10 |
| Impairment Of Capital Assets | - | - | - | - | 6.10 |
| Restructuring And Mergern Acquisition | 0 | 0 | 3.20 | 3.40 | - |
| Gain On Sale Of Security | 0.02 | -0.25 | -1.15 | -0.01 | - |
| General And Administrative Expense | - | 152.83 | 167.67 | 168.81 | 175.16 |
| Other Gand A | 27.56 | - | - | - | - |
| Salaries And Wages | - | 142.93 | 157.18 | 157.56 | 163.78 |
| Insurance And Claims | - | 9.90 | 10.49 | 11.25 | 11.38 |
| Selling And Marketing Expense | - | 8.24 | 8.74 | 9.71 | 11.42 |
| Occupancy And Equipment | - | 51.31 | 59.24 | 59.12 | 59.78 |
| Professional Expense And Contract Services Expense | - | 24.84 | 18.76 | 18.88 | 23.70 |
| Other Non Interest Expense | - | 59.61 | 59.84 | 65.01 | 63.53 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| OFG Bancorpthis co. | OFG | $1.9B | 9.47↓ discount | 1.40 | 14.8% | - |
| LendingClub Corporation | LC | $2.0B | 14.94 | 1.35 | 9.0% | - |
| EZCORP, Inc. | EZPW | $2.0B | 18.05 | 1.93 | 10.7% | 11.23 |
| Federal Agricultural Mortgage Corporation | AGM | $2.0B | 9.53 | 1.63 | 17.1% | - |
| First Commonwealth Financial Corporation | FCF | $1.9B | 12.65 |
| - |
| - |
| - |
| 1.24 |
| 9.8% |
| - |
| Stellar Bancorp, Inc. | STEL | $1.9B | 18.53 | 1.14 | 6.2% | - |
| The Baldwin Insurance Group, Inc. | BWIN | $1.9B | -55.47 | 3.13 | -5.6% | 16.99 |
| National Bank Holdings Corporation | NBHC | $1.9B | 17.05 | 1.35 | 7.9% | - |
| Horace Mann Educators Corporation | HMN | $1.8B | 11.35 | 1.24 | 10.9% | - |
| Peer Median | - | 13.79 | 1.35 | 9.4% | 14.11 | |