secwatch.observer — SEC 8-K summary
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Issuer:     OFG BANCORP (OFG)
CIK:        0001030469
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001030469-23-000013
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1030469/000103046923000013/0001030469-23-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1030469/000103046923000013/ofg-20230420.htm
  HTML page:      https://secwatch.observer/filing/0001030469-23-000013

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