OFG Bancorp (OFG) Tops Q1 EPS by 3c

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Go back to OFG Bancorp (OFG) Tops Q1 EPS by 3c

OFG Bancorp Reports 1Q19 Results

April 18, 2019 7:30 AM EDT

SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- OFG Bancorp (NYSE: OFG) reported results for the first quarter ended March 31, 2019.

Highlights 1Q19 vs. 1Q18

Net revenues increased 7.7% to $99.3 million from $92.2 million. Increased interest income from Originated Loans and Investment Securities and Cash more than offset pay downs of Acquired Loans. Net income available to shareholders increased 62.4% to $21.8 million from $13.5 million. Results reflect increased operating leverage, reduced provision and elimination of dividends on Series C preferred stock following its conversion. Earnings per share diluted of $0.42... More