OFG Bancorp reported second-quarter 2026 results with diluted earnings per share of $1.39 and total core revenues of $190.3 million. Net interest margin was 5.45% and net income available to common stockholders was $58.8 million for the quarter ended June 30, 2026. The company cited sequential loan growth, deposit strength and stable credit trends supporting improved EPS and core revenue growth year-over-year.

Financial Highlights

  • Total core revenues: $190.3 million for Q2 2026 (versus $185.8 million in Q1 2026 and $182.2 million in Q2 2025).
  • Diluted earnings per share: $1.39 for Q2 2026 (compared with $1.26 in Q1 2026 and $1.15 in Q2 2025).
  • Net interest margin (NIM): 5.45% for Q2 2026.
  • Net income available to common stockholders: $58.8 million for Q2 2026.
  • Total provision for credit losses: $13.0 million in Q2 2026; net charge-offs $28.8 million (1.40% of average loans) and non-performing loans $67.3 million (0.81% of average loans).

Business Highlights

  • Loan growth: Loans held for investment ended at $8.30 billion (period end), up sequentially from $8.24 billion, driven by increases in Puerto Rico commercial and consumer loans; new loan production was $755.0 million in Q2 2026, up 24.0% sequentially.
  • Deposit trends: Customer deposits ended at $9.74 billion, up $84.9 million sequentially, reflecting growth in government, commercial and retail deposits and core deposit strength.
  • Balance sheet management: Total borrowings & brokered deposits increased to $795.5 million for liquidity management; cash and cash equivalents rose to $745.7 million sequentially due to deposit growth and investment repayments.
  • Brand and customer strategy: Launched a branding-marketing campaign positioning the bank as a digital bank with a human touch, emphasizing market-leading banking and customer communication technologies combined with people-focused culture.
  • Operating performance: Reported stable credit trends and implemented operational actions including $5.8 million in business-related operational charges in Q2 2026 while continuing investments in customer engagement and wealth/insurance channels.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.