secwatch.observer — SEC 8-K summary
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Issuer:     OFG BANCORP (OFG)
CIK:        0001030469
Form:       8-K
Filed at:   2024-01-24T23:59:59+00:00
Accession:  0001030469-24-000004
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OFG Bancorp 4Q23 EPS $0.98, FY23 EPS $3.83; record loans and deposits
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- EPS diluted $0.98 in 4Q23 vs $0.95 in 3Q23 and $0.97 in 4Q22; FY23 EPS $3.83 vs $3.44.
- Total core revenues $175.6M in 4Q23, up from $172.2M in 3Q23; FY23 $682.7M vs $607.8M.
- Record loans $7.53B (+10.2% YoY), customer deposits $9.60B (+12.1% YoY), and tangible common equity >$1B.
- Tangible book value per share $23.13, up from $21.01 in 3Q23; CET1 ratio 14.12%.
- Net interest margin 5.62%; nonperforming loan rate 1.22% – lowest in five quarters.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1030469/000103046924000004/0001030469-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1030469/000103046924000004/ofg-20240124.htm
  HTML page:      https://secwatch.observer/filing/0001030469-24-000004

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