OFG Bancorp Q3 2022 EPS $0.87, core revenue up 7.2% QoQ; dividend raised to $0.20

OFG BANCORP

2022-Q3 EPS reported $2.47

Diluted EPS $0.87 vs $0.84 in Q2 2022 and $0.81 in Q3 2021.
Core revenues $156.8M (+7.2% QoQ); net interest margin 5.23% vs 4.80% in Q2.
Quarterly dividend increased to $0.20 per share from $0.15 in Q2 2022.
Provision for credit losses $7.1M; net charge-offs $11.3M, including $6.6M on two commercial loans.
CET1 ratio 13.34% (up from 12.80% in Q2); tangible book value per share $18.46.

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