OFG Bancorp Reports 4Q20 & 2020 Results
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OFG Bancorp (OFG) Misses Q4 EPS by 3c, Revenues Beat
January 25, 2021 7:31 AM ESTOFG Bancorp (NYSE: OFG) reported Q4 EPS of $0.42, $0.03 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $132.8 million versus the consensus estimate of $99.8 million.
4Q20 Highlights
Increased Earnings & Revenues: EPS diluted of $0.42 compared to a loss of $0.05 in 4Q19. Results reflected pre-tax merger and restructuring charges of $10.1 million compared to $21.5 million in 4Q19. Total core revenues were $132.8 million versus $98.4 million in 4Q19. Net interest income of $98.7 million increased 24.7%. Non-interest income of $34.0 million increased 77.4%. Net interest margin was 4.24% compared to 5.34% in 4Q19.Solid Production: New loan originations totaled $485.4... More