---
schema_version: "secwatch.filing_event.v1"
accession: "0001030469-24-000015"
form_type: "8-K"
ticker: "OFG"
cik: "0001030469"
company_name: "OFG BANCORP"
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T17:53:15.120947+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# OFG Bancorp Q1 EPS $1.05, up 9.4% YoY; core revenues $174.2M, NIM 5.40%

## Summary
- EPS diluted $1.05 vs $0.96 in 1Q23; total core revenues $174.2M, up 5.9% YoY.
- Net interest margin 5.40%, return on avg tangible common equity 17.92%, efficiency ratio 52.49%.
- CET1 ratio improved to 14.45%; tangible book value $23.55 per share vs $20.57 in 1Q23.
- Loans held for investment $7.54B, up 10.0% YoY; net charge-offs $19.8M (includes $3.5M fully reserved PPP loans).
- Nonperforming loan rate 1.10%, lowest in five quarters; early delinquency 2.41%.

## SEC filing metadata
- accession: 0001030469-24-000015
- form_type: 8-K
- ticker: OFG
- cik: 0001030469
- company_name: OFG BANCORP
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1030469/000103046924000015/0001030469-24-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1030469/000103046924000015/ofg-20240418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001030469-24-000015
- JSON: https://secwatch.observer/filing/0001030469-24-000015.json
- Plain text: https://secwatch.observer/filing/0001030469-24-000015.txt

## Key facts
- Earnings Releases
  OFG BANCORP reported first quarter ended March 31, 2024 results: EPS $1.05.
  - Period: first quarter ended March 31, 2024
  - EPS: $1.05
  - Result: reported results
  source text: EPS diluted of $1.05 compared to $0.98 in 4Q23 and $0.96 in 1Q23.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1030469/000103046924000015/0001030469-24-000015-index.htm

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