secwatch.observer — SEC 8-K summary
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Issuer:     OFG BANCORP (OFG)
CIK:        0001030469
Form:       8-K
Filed at:   2022-01-19T23:59:59+00:00
Accession:  0001030469-22-000007
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1030469/000103046922000007/0001030469-22-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1030469/000103046922000007/ofg-20220119.htm
  HTML page:      https://secwatch.observer/filing/0001030469-22-000007

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