OFG Bancorp Q4 EPS $1.09, full-year $4.23; core revenue up 3.6% YoY

OFG BANCORP

2024-FY EPS reported $4.23

Q4 diluted EPS $1.09 vs $1.00 in Q3 and $0.98 in Q4 2023; full-year 2024 EPS $4.23 vs $3.83 in 2023.
Q4 total core revenues $181.9M, up from $174.1M in Q3 and $175.6M in Q4 2023; NIM 5.40%.
Provision for credit losses $30.2M included $7.6M specific reserve on four U.S. commercial loans and $5.7M qualitative reserve for auto delinquencies.
Bought back $45.9M of shares in Q4; $29.7M remaining authorization; CET1 ratio 14.26%.
Tangible book value per share $25.43 vs $26.15 in Q3, reflecting buybacks and lower OCI.

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