---
schema_version: "secwatch.filing_event.v1"
accession: "0001030469-23-000013"
form_type: "8-K"
ticker: "OFG"
cik: "0001030469"
company_name: "OFG BANCORP"
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:06:25.782537+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# OFG Bancorp Q1 EPS $0.96; net interest margin 5.89%; CET1 ratio 14.07%

## Summary
- Diluted EPS of $0.96 vs $0.97 in 4Q22 and $0.76 in 1Q22; core revenues $164.4M.
- Net interest margin 5.89%; net interest income $135.9M, up from $105.2M YoY.
- CET1 ratio improved to 14.07% from 13.64% in 4Q22; tangible book value $20.57 per share.
- Customer deposits stable at $8.57B; borrowed $200M from FHLB, increasing borrowings to $226.8M.
- Provision for credit losses $9.4M vs $1.6M in 1Q22; net charge-offs $10.1M.

## SEC filing metadata
- accession: 0001030469-23-000013
- form_type: 8-K
- ticker: OFG
- cik: 0001030469
- company_name: OFG BANCORP
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1030469/000103046923000013/0001030469-23-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1030469/000103046923000013/ofg-20230420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001030469-23-000013
- JSON: https://secwatch.observer/filing/0001030469-23-000013.json
- Plain text: https://secwatch.observer/filing/0001030469-23-000013.txt

## Key facts
- Earnings Releases
  OFG BANCORP reported first quarter ended March 31, 2023 results: revenue $164.4 million, EPS $0.96.
  - Period: first quarter ended March 31, 2023
  - Revenue: $164.4 million
  - EPS: $0.96
  - Result: reported results
  source text: EPS diluted of $0.96 compared to $0.97 in 4Q22 and $0.76 in 1Q22. Total core revenues of $164.4 million compared to $168.3 million in 4Q22 and $136.4 million in 1Q22.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1030469/000103046923000013/0001030469-23-000013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.