secwatch.observer — SEC 8-K summary
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Issuer:     OFG BANCORP (OFG)
CIK:        0001030469
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001030469-24-000015
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1030469/000103046924000015/0001030469-24-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1030469/000103046924000015/ofg-20240418.htm
  HTML page:      https://secwatch.observer/filing/0001030469-24-000015

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