Key Points – OFG Bancorp posted a strong second quarter, with EPS rising 21% year over year to $1.39 and core revenue up 4%.
Management also highlighted improved profitability metrics, including a 1.93% return on average assets and an 18% return on tangible common equity. – Loan and deposit growth remained healthy, supported by Puerto Rico commercial, consumer and government balances
OFG also raised its net interest margin outlook, now expecting 5.25% to 5.35% in the second half of 2026. – Credit quality improved and capital remained strong after the sale of certain commercial exposures, with non-performing loans falling to 0.81% of average loans and provision expense declining. The company ended the quarter with a CET1 ratio of 14.07% and continued to describe its capital strategy as selective and opportunistic. OFG Bancorp (NYSE:OFG) reported what executives described as a strong second quarter, with earnings per share up 21% from a year earlier and core revenue rising 4%, supported by loan growth, core deposit expansion, stable credit quality and balance sheet management.
Chairman and Chief Executive Officer José Rafael Fernández said the company delivered “another all-around outstanding quarter with good momentum in all areas.” He pointed to Puerto Rico’s resilient economy, citing healthy consumer and business liquidity, wage growth and historically low unemployment as supportive factors. Fernández also highlighted OFG’s ongoing shift toward what he called “a digital bank with a human touch,” saying the company launched a new branding campaign during the quarter to emphasize its strategic and financial evolution. Second-quarter earnings and profitability improved Chief Financial Officer Maritza Arizmendi said EPS rose to $1.39 in the quarter.