OFG Bancorp Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 20, 2023 at 08:44 am
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OFG Bancorp reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 141.79 million compared to USD 126.51 million a year ago. Net income was USD 44.87 million compared to USD 41.92 million a year ago. Basic earnings per share from continuing operations was USD 0.95 compared to USD 0.88 a year ago. Diluted earnings per share from continuing operations was USD 0.95 compared to USD 0.87 a year ago.
For the nine months, net interest income was USD 417.33 million compared to USD 346.8 million a year ago. Net income was USD 135.28 million compared to USD 119.87 million a year ago. Basic earnings per share from continuing operations was USD 2.86 compared to USD 2.49 a year ago. Diluted earnings per share from continuing operations was USD 2.84 compared to USD 2.47 a year ago.
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services. The Company provides these services through various subsidiaries, including a commercial bank, Oriental Bank; a securities broker-dealer, Oriental Financial Services Corp. (Oriental Financial Services); an insurance agency, Oriental Insurance, LLC (Oriental Insurance), and a retirement plan administrator, Oriental Pension Consultants, Inc. (OPC).