OFG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-08

• OFG’s mission is to make possible the progress of our customers, employees, shareholders, and communities we serve. As the world evolves rapidly, we seek to amplify our ambition, with the goal of advancing from steady progress to bold transformation. We believe that our strategy is designed to accel…

• In January 2026, OFG announced that its Board approved the increase of its regular quarterly cash dividend to $0.35 per common share from $0.30 per share, beginning in the quarter ending March 31, 2026. The Board also approved a new $200 million stock repurchase program. This new, open-ended program…

• Puerto Rico’s economy has continued to show stable performance, supported by favorable labor market conditions and adequate system liquidity. According to the Puerto Rico Department of Economic Development and Commerce, the Puerto Rico Economic Activity Index stood at 127.2 points in January 2026, r…

• The preparation of financial statements in accordance with GAAP requires management to make judgments, assumptions and estimates that affect the reported amount of assets, liabilities, income and expenses in the consolidated financial statements. Understanding our accounting policies and the extent …

• In the “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates” section of our 2025 Form 10-K, we identified the Allowance for Credit Losses related to loans collectively evaluated for impairment as a critical accounting polic…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• OFG’s mission is to make possible the progress of our customers, employees, shareholders, and the communities we serve. OFG has been deploying its Digital First strategy to achieve this mission. Our strategy highly differentiates OFG through a sales and service business model and culture that emphas…

• In January 2025, OFG announced that its Board of Directors approved the increase of its regular quarterly cash dividend to $0.30 per common share from $0.25 per share, beginning in the quarter ended March 31, 2025.

• Subsequently, on April 30, 2025, the Board of Directors approved a new $100 million stock repurchase program. This new, open-ended program is in addition to the previous stock repurchase program approved by the Board of Directors in October 2024.

• Under the Repurchase Programs, OFG repurchased 1,246,064 shares for a total of $51.5 million at an average price of $41.32 per share during the nine-month period ended September 30, 2025. At September 30, 2025, the estimated remaining amount that may be purchased under the Repurchase Programs is $78…

• We maintain a positive outlook on Puerto Rico's economy. According to the Economic Development Bank for Puerto Rico, the Puerto Rico Economic Activity Index stood at 127.1 points in June 2025, showing a slight 0.2% decrease from the previous month and a 0.9% decrease compared to June 2024. However, …

Text added vs the prior filing · source: 10-Q · 2026-05-08

• OFG’s business requires continuous access to various funding sources. Liquidity to support growth in loans held-for-investment has been fulfilled primarily through growth in customer deposits. OFG’s goal is to obtain as much of its funding for loans held-for-investment and other earning assets as po…

• liquidity. Subsequently, in January 2026, $500 million was moved to our wealth management business as an advisory account, resulting in a total of $1.261 billion and $1.676 billion deposits from the Puerto Rico government and its instrumentalities as of March 31, 2026 and December 31, 2025, respecti…

• Although OFG expects to have continued access to credit from the foregoing sources of funds, there can be no assurance that such financing sources will continue to be available or will be available on favorable terms. In a period of financial disruption

• or if negative developments occur with respect to OFG, the availability and cost of OFG’s funding sources could be adversely affected. In that event, OFG’s cost of funds may increase, thereby reducing its net interest income, or OFG may need to dispose of a portion of its investment portfolio, which…

• As of March 31, 2026, OFG had approximately $636.5 million in unrestricted cash and cash equivalents, $1.415 billion in investment securities that are not pledged as collateral, $375.0 million in borrowing capacity at the FHLB and a secured line of credit through the FRB discount window with $3.024 …

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• OFG’s business requires continuous access to various funding sources. Liquidity to support growth in loans held for investment has been fulfilled primarily through growth in customer deposits. OFG’s goal is to obtain as much of its funding for loans held for investment and other earning assets as po…

• Although OFG expects to have continued access to credit from the foregoing sources of funds, there can be no assurance that such financing sources will continue to be available or will be available on favorable terms. In a period of financial disruption or if negative developments occur with respect…

• As of September 30, 2025, OFG had approximately $740.3 million in unrestricted cash and cash equivalents, $1.163 billion in investment securities that are not pledged as collateral, $301.7 million in borrowing capacity at the FHLB and a secured line of credit through the FRB discount window with $3.…