OFG Bancorp Q4 EPS $0.66, FY EPS $2.81; core revenue $141M; TBV $19.08

OFG BANCORP

2021-FY EPS reported $2.81

4Q21 diluted EPS $0.66 vs $0.81 in 3Q21 and $0.42 in 4Q20; FY2021 EPS $2.81 vs $1.32 in 2020.
4Q21 core revenues $141.0M, up from $134.7M in 3Q21; net interest income $104.2M.
Strategic sale of $65.5M past due loans required $9.7M additional provision; net charge-offs $32.5M.
Completed $92M preferred stock redemption and $50M common stock buyback; CET1 ratio 13.77%.
Tangible book value per share $19.08, up 12.4% YoY; NPL rate fell to 1.75% from 2.08% in 3Q21.

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