OFG Bancorp stock shows stronger Q3 earnings on loan growth
Published on 11/10/2026 at 01:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSThird-Quarter Results And Outlook
- OFG Bancorp reported higher year-over-year earnings despite a sequential decline in core revenue.
- Loan growth and lower non-interest expenses supported profitability, while deposits declined modestly from the second quarter.
- Credit quality improved year over year, although some delinquency measures rose seasonally.
OFG Bancorp reported stronger third-quarter earnings on October 21, 2026, as commercial loan growth, lower expenses and improved credit performance supported the Puerto Rico-based financial holding company. The figures were published in a Financial Times company announcement.
Earnings Improve Year Over Year
Diluted earnings per share reached USD 1.33, compared with USD 1.16 a year earlier and USD 1.39 in the second quarter. Net income available to common shareholders rose to USD 56.6 million from USD 51.8 million in the third quarter of 2025.
Total core revenue was USD 185.7 million, up from USD 184.0 million a year earlier but below the USD 190.3 million reported in the second quarter. Net interest income was USD 153.6 million, while the net interest margin stood at 5.23%.
Loan Growth Supports Profitability
Loans held for investment increased to USD 8.45 billion at the end of September from USD 8.30 billion three months earlier and USD 8.12 billion a year earlier. New loan production declined sequentially to USD 693.8 million, reflecting lower Puerto Rico commercial, auto and residential mortgage production, partly offset by stronger U.S. commercial and Puerto Rico consumer lending.
Non-interest expense fell to USD 96.3 million from USD 102.8 million in the second quarter, which included USD 5.8 million in business-related operational charges. The provision for credit losses rose sequentially to USD 18.1 million from USD 13.0 million but remained below the USD 28.3 million recorded a year earlier.
Credit Trends And Funding
Early and total delinquency rates increased sequentially to 2.65% and 3.91%, respectively, reflecting seasonal trends. Net charge-offs and nonperforming loans were lower than in both the previous quarter and the year-earlier period.
Customer deposits declined 0.8% sequentially to USD 9.66 billion. Borrowings and brokered deposits increased to USD 926.6 million as OFG managed liquidity alongside loan growth and purchases of mortgage-backed securities.
OFG Bancorp In Its Market
OFG Bancorp is a diversified financial holding company operating under U.S., Puerto Rico and U.S. Virgin Islands banking laws. Through Oriental Bank, Oriental Financial Services and Oriental Insurance, it provides retail and commercial banking, lending, wealth management, insurance and technology services, mainly in Puerto Rico and the U.S. Virgin Islands.
The company is a regional banking specialist rather than a nationwide institution. Its competitive set includes Puerto Rico-focused banks such as Popular and FirstBank, as well as larger U.S. financial institutions serving the island; OFG differentiates its offering through digital banking and local customer relationships. This business description is based on the OFG Bancorp company overview.
OFG Bancorp At A Glance
- Company: OFG Bancorp
- Stock ticker: OFG
- Exchange: New York Stock Exchange
- Third-quarter diluted EPS: USD 1.33
- Third-quarter net income: USD 56.6 million
- Third-quarter core revenue: USD 185.7 million
- Loans held for investment: USD 8.45 billion at September 30, 2026
Puerto Rico banking shares the broader direction of the S&P 500, although local credit conditions and deposit competition remain specific drivers.
