Document

Exhibit 99

OFG Bancorp Reports 2Q25 Results

SAN JUAN, Puerto Rico, July 17, 2025 – OFG Bancorp (NYSE: OFG), the financial holding company for Oriental Bank, today reported results for the second quarter ended June 30, 2025. EPS diluted of $1.15 compared to $1.00 in 1Q25 and $1.08 in 2Q24. Total core revenues of $182.2 million compared to $178.3 million in 1Q25 and $179.4 million in 2Q24.

CEO Comment

José Rafael Fernández, Chief Executive Officer, said: “The second quarter reflected strong operating performance at all levels. EPS-diluted increased 6.5% year-over-year on a 1.5% increase in total core revenues. Highlights included steady core deposit flows and strong loan origination, as well as solid overall financial metrics, driven by return on average assets and equity. Credit reflected Puerto Rico’s stable economy, with both individuals and businesses holding high levels of liquidity.”

“Our omnichannel digital strategy demonstrates strong momentum, and we continue to invest in and deploy new tools to improve our customer experience to deepen relationships and drive efficiencies. In the second quarter, that included launching the Oriental Marketplace and a DGI Money Market fund. Separately, we bought back 186,024 shares.”

“We ended the quarter with record assets of $12.2 billion, core deposits of $9.9 billion, and loans held for investment of $8.2 billion. Thanks to our team for making these results possible and for helping our customers achieve progress in their financial lives.”

2Q25 Highlights

Performance Metrics: Net interest margin of 5.31%, return on average assets of 1.73%, return on average tangible common stockholders’ equity of 16.96%, and efficiency ratio of 52.04%.

Total Interest Income of $194.3 million compared to $189.2 million in 1Q25 and $187.7 million in 2Q24. Compared to 1Q25, 2Q25 increased $5.1 million, reflecting higher average balances of loans and cash and $1.5 million from one additional business day.

Total Interest Expense of $42.4 million compared to $40.2 million in 1Q25 and $40.3 million in 2Q24. Compared to 1Q25, 2Q25 increased $2.3 million, reflecting higher average balances of wholesale funding and of deposits and $0.4 million from one additional business day.

Total Banking & Financial Service Revenues of $30.2 million compared to $29.2 million in 1Q25 and $32.1 million in 2Q24. Compared to 1Q25, 2Q25 primarily reflected increases in mortgage banking activities and wealth management.

Pre-Provision Net Revenues of $87.6 million compared to $85.1 million in 1Q25 and $86.8 million in 2Q24.

Total Provision for Credit Losses of $21.7 million compared to $25.7 million in 1Q25 and $15.6 million in 2Q24. 2Q25 primarily reflected $17.2 million for increased loan volume, $3.7 million in

specific reserves on four commercial loans, and $0.7 million due to alignment of model assumptions and risk weighting factors mainly in Puerto Rico.

Credit Quality: Net charge-offs of $12.8 million (0.64% of average loans) compared to $20.4 million (1.05%) in 1Q25 and $15.0 million (0.79%) in 2Q24. 2Q25 early and total delinquency rates were 2.46% and 3.59%, respectively, and the nonperforming loan rate was 1.19%.

Total Non-Interest Expense of $94.8 million compared to $93.5 million in 1Q25 and $93.0 million in 2Q24. 2Q25 reflected $1.4 million lower payroll taxes and foreclosed real estate costs compared to 1Q25, which also benefited from a $3.1 million volume incentive payment from a business partner.

Income Tax Expense of $14.1 million compared to $13.9 million in 1Q25 and $20.1 million in 2Q24. 2Q25 ETR was 21.37%, reflecting an anticipated rate of 24.90% for the year, and the benefit of $1.7 million in discrete items.

Loans Held for Investment (EOP) of $8.18 billion compared to $7.85 billion in 1Q25 and $7.64 billion in 2Q24. 2Q25 loans increased 4.2% sequentially and 7.08% year-over-year, primarily reflecting OFG’s strategy to increase commercial lending.

New Loan Production of $783.7 million compared to $558.9 million in 1Q25 and $589.0 million in 2Q24. Compared to 1Q25, 2Q25 reflected production increases in all lending channels in both Puerto Rico and the U.S.

Total Investments (EOP) of $2.78 billion compared to $2.79 billion in 1Q25 and $2.48 billion in 2Q24. Compared to 1Q25, 2Q25 reflected repayments mostly offset by purchases of $50 million of mortgage-backed securities yielding 5.55% and the securitization of our conforming mortgage lending production.

Customer Deposits (EOP) of $9.90 billion increased $138.7 million from $9.76 billion in 1Q25 and $291.0 million from $9.60 billion in 2Q24. Compared to 1Q25, 2Q25 reflected higher time and savings deposit balances, partially offset by lower demand deposit balances. Deposits also reflected higher commercial and government balances, partially offset by lower retail balances.

Total Borrowings & Brokered Deposits (EOP) of $732.3 million compared to $421.5 million in 1Q25 and $201.2 million in 2Q24. 2Q25 primarily reflected $200 million in a new two-year FHLB advance at 4.13% and $82.5 million in additional brokered deposits to increase liquidity and fund strategic growth in commercial loans.

Cash & Cash Equivalents (EOP) of $851.8 million compared to $710.6 million in 1Q25 and $740.4 million in 2Q24. 2Q25 included cash from the above-mentioned wholesale funding.

Capital: CET1 ratio was 13.99% compared to 14.27% in 1Q25 and 14.29% in 2Q24. Tangible Common Equity ratio was 10.20% compared to 10.30% in 1Q25 and 10.09% in 2Q24. Tangible Book Value per share was $27.67 compared to $26.66 in 1Q25 and $24.18 in 2Q24.

Conference Call, Financial Supplement & Presentation

A conference call to discuss 2Q25 results, outlook and related matters will be held today at 10:00 AM ET. Phone (800) 245-3047 or (203) 518-9765. Conference ID: OFGQ225. The call can also be accessed live on www.ofgbancorp.com with webcast replay shortly thereafter. OFG’s Financial Supplement, with full financial tables for the quarter ended June 30, 2025, and the 2Q25 Conference Call Presentation, can be found on the Quarterly Results page on OFG’s Investor Relations website at www.ofgbancorp.com.

Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, management uses certain “non-GAAP financial measures” within the meaning of SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Please refer to Tables 8-1 and 8-2 in OFG’s above-mentioned Financial Supplement for a reconciliation of GAAP to non-GAAP measures and calculations.

Forward Looking Statements

The information included in this document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. Factors that might cause such a difference include but are not limited to (i) general business and economic conditions, including changes in interest rates; (ii) cybersecurity breaches; (iii) hurricanes, earthquakes, pandemics, and other natural disasters; and (iv) competition in the financial services industry. For a discussion of such factors and certain risks and uncertainties to which OFG is subject, please refer to OFG’s annual report on Form 10-K for the year ended December 31, 2024, as well as its other filings with the U.S. Securities and Exchange Commission. Other than to the extent required by applicable law, including the requirements of applicable securities laws, OFG assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.

About OFG Bancorp

Now in its 61st year in business, OFG Bancorp is a diversified financial holding company that operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services, and Oriental Insurance, provide a wide range of retail and commercial banking, lending and wealth management products, services, and technology, primarily in Puerto Rico and U.S. Virgin Islands. Our mission is to make progress possible for our customers, employees, shareholders, and the communities we serve. Visit us at www.ofgbancorp.com.

# # #

Contacts

Puerto Rico & USVI: Lumarie Vega López (lumarie.vega@orientalbank.com) and Victoria Maldonado Rodríguez (victoria.maldonado@orientalbank.com) at (787) 771-6800

US: Gary Fishman (gfishman@ofgbancorp.com) and Michael Wichman (michael.wichman@ofgbancorp.com) at (212) 532-3232

OFG Bancorp

Financial Supplement

The information contained in this Financial Supplement is preliminary and based on data available at the time of the earnings presentation, and investors should refer to our June 30, 2025 Quarterly Report on Form 10-Q once it is filed with the Securities and Exchange Commission.


	Table of Contents
		Pages

OFG Bancorp (Consolidated Financial Information)
Table 1:	Financial and Statistical Summary - Consolidated	2
Table 2:	Consolidated Statements of Operations	4
Table 3:	Consolidated Statements of Financial Condition	6
Table 4:	Information on Loan Portfolio and Production	7
Table 5:	Average Balances, Net Interest Income and Net Interest Margin	9
Table 6:	Loan Information and Performance Statistics	11
Table 7:	Allowance for Credit Losses	14
Table 8:	Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital	15
Table 9:	Notes to Financial Summary, Selected Metrics, Loans, and Consolidated Financial Statements (Tables 1-8)	17

OFG Bancorp (NYSE: OFG)

Table 1-1: Financial and Statistical Summary - Consolidated


		2025			2025			2024			2024			2024
(Dollars in thousands, except per share data) (unaudited)		Q2			Q1			Q4			Q3			Q2
Statement of Operations
Net interest income		$	151,928		$	149,071		$	149,138		$	147,875		$	147,325
Non-interest income, net (core)	(1)	30,247			29,212			32,766			26,271			32,085
Total core revenues	(2)	182,175			178,283			181,904			174,146			179,410
Non-interest expense		94,802			93,452			99,718			91,600			92,960
Pre-provision net revenues	(21)	87,557			85,136			82,977			83,143			86,841
Total provision for credit losses		21,678			25,688			30,190			21,359			15,581
Net income before income taxes		65,879			59,448			52,787			61,784			71,260
Income tax expense		14,078			13,876			2,440			14,784			20,129
Net income available to common stockholders		51,801			45,572			50,347			47,000			51,131
Common Share Statistics
Earnings per common share - basic	(3)	$	1.15		$	1.01		$	1.10		$	1.01		$	1.09
Earnings per common share - diluted	(4)	$	1.15		$	1.00		$	1.09		$	1.00		$	1.08
Average common shares outstanding		44,854			45,295			45,946			46,560			46,952
Average common shares outstanding and equivalents		45,033			45,509			46,248			46,846			47,131
Cash dividends per common share		$	0.30		$	0.30		$	0.25		$	0.25		$	0.25
Book value per common share (period end)		$	29.83		$	28.83		$	27.60		$	28.31		$	26.37
Tangible book value per common share (period end)	(5)	$	27.67		$	26.66		$	25.43		$	26.15		$	24.18
Balance Sheet (Average Balances)
Loans	(6)	$	7,963,890		$	7,784,757		$	7,717,566		$	7,634,511		$	7,612,407
Interest-earning assets		11,466,602			11,152,184			10,981,886			10,837,380			10,758,623
Total assets		11,958,502			11,657,544			11,523,140			11,347,795			11,233,202
Core deposits		9,736,301			9,623,779			9,555,213			9,588,752			9,599,842
Total deposits		9,963,960			9,782,001			9,651,748			9,609,820			9,601,408
Interest-bearing deposits		7,382,083			7,240,258			7,107,550			7,042,467			7,023,192
Borrowings		444,820			358,666			329,231			241,062			219,903
Stockholders' equity		1,318,886			1,290,888			1,304,779			1,280,760			1,223,669

Performance Metrics
Net interest margin	(7)	5.31		%	5.42		%	5.40		%	5.43		%	5.51		%
Return on average assets	(8)	1.73		%	1.56		%	1.75		%	1.66		%	1.82		%
Return on average tangible common stockholders' equity	(9)	16.96		%	15.28		%	16.71		%	15.94		%	18.24		%
Efficiency ratio	(10)	52.04		%	52.42		%	54.82		%	52.60		%	51.81		%
Full-time equivalent employees, period end		2,222			2,223			2,246			2,236			2,239
Credit Quality Metrics
Allowance for credit losses		$	189,944		$	181,174		$	175,863		$	161,500		$	157,301
Allowance as a % of loans held for investment		2.32		%	2.31		%	2.26		%	2.08		%	2.06		%
Net charge-offs		$	12,784		$	20,370		$	15,862		$	17,103		$	15,013
Net charge-off rate	(11)	0.64		%	1.05		%	0.82		%	0.90		%	0.79		%
Early delinquency rate (30 - 89 days past due)		2.46		%	2.19		%	2.95		%	2.78		%	2.81		%
Total delinquency rate (30 days and over)		3.59		%	3.49		%	4.38		%	4.10		%	3.71		%
Capital Ratios (period end) (Non-GAAP)	(12)(20)
Leverage ratio		10.83		%	10.83		%	10.93		%	11.12		%	10.86		%
Common equity Tier 1 capital ratio		13.99		%	14.27		%	14.26		%	14.37		%	14.29		%
Tier 1 risk-based capital ratio		13.99		%	14.27		%	14.26		%	14.37		%	14.29		%
Total risk-based capital ratio		15.25		%	15.53		%	15.52		%	15.63		%	15.54		%
Tangible common equity ("TCE") ratio		10.20		%	10.30		%	10.13		%	10.72		%	10.09		%

OFG Bancorp (NYSE: OFG)

Table 1-2: Financial and Statistical Summary - Consolidated (Continued)


		2025			2024
(Dollars in thousands, except per share data) (unaudited)		YTD			YTD
Statement of Operations
Net interest income		$	300,999		$	291,427
Non-interest income, net (core)	(1)	59,459			62,144
Total core revenues	(2)	360,458			353,571
Non-interest expense		188,254			184,372
Pre-provision net revenues	(21)	172,693			169,879
Total provision for credit losses		47,366			30,702
Net income before income taxes		125,327			139,177
Income tax expense		27,954			38,354
Net income available to common stockholders		97,373			100,823
Common Share Statistics
Earnings per common share - basic	(3)	$	2.16		$	2.14
Earnings per common share - diluted	(4)	$	2.15		$	2.13
Average common shares outstanding		45,074			47,024
Average common shares outstanding and equivalents		45,265			47,244
Cash dividends per common share		$	0.60		$	0.50
Book value per common share (period end)		$	29.83		$	26.37
Tangible book value per common share (period end)	(5)	$	27.67		$	24.18
Balance Sheet (Average Balances)
Loans	(6)	$	7,874,819		$	7,577,082
Interest-earning assets		11,310,263			10,749,306
Total assets		11,808,855			11,215,573
Core deposits		9,680,351			9,566,316
Total deposits		9,873,483			9,596,468
Interest-bearing deposits		7,311,562			7,039,200
Borrowings		401,981			220,338
Stockholders' equity		1,304,964			1,218,569

Performance Metrics
Net interest margin	(7)	5.37		%	5.45		%
Return on average assets	(8)	1.65		%	1.80		%
Return on average tangible common stockholders' equity	(9)	16.13		%	18.08		%
Efficiency ratio	(10)	52.23		%	52.15		%
Full-time equivalent employees, period end		2,222			2,239
Credit Quality Metrics
Allowance for credit losses		$	189,944		$	157,301
Allowance as a % of loans held for investment		2.32		%	2.06		%
Net charge-offs		$	33,154		$	34,825
Net charge-off rate	(11)	0.84		%	0.92		%
Early delinquency rate (30 - 89 days past due)		2.46		%	2.81		%
Total delinquency rate (30 days and over)		3.59		%	3.71		%

OFG Bancorp (NYSE: OFG)

Table 2-1: Consolidated Statements of Operations


	Quarter Ended
(Dollars in thousands) (unaudited)	June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024
Interest income:
Loans
Non-PCD loans	$	141,797	$	137,690	$	139,659	$	139,358	$	137,741
PCD loans	15,190		15,718		15,682		15,052		16,516
Total interest income from loans	156,987		153,408		155,341		154,410		154,257
Investment securities and cash	37,360		35,814		34,822		34,620		33,401
Total interest income	194,347		189,222		190,163		189,030		187,658
Interest expense:
Deposits
Core deposits	35,529		34,645		36,312		38,123		37,791
Brokered deposits	2,350		1,647		1,020		221		21
Total deposits	37,879		36,292		37,332		38,344		37,812
Borrowings	4,540		3,859		3,693		2,811		2,521
Total interest expense	42,419		40,151		41,025		41,155		40,333
Net interest income	151,928		149,071		149,138		147,875		147,325
Provision for credit losses, excluding PCD loans	21,010		24,810		32,838		21,070		16,913
Provision for (recapture of) credit losses on PCD loans	668		878		(2,648)		289		(1,332)
Total provision for credit losses	21,678		25,688		30,190		21,359		15,581
Net interest income after provision for credit losses	130,250		123,383		118,948		126,516		131,744
Non-interest income:
Banking service revenues	15,982		15,981		15,329		15,554		18,781
Wealth management revenues	8,918		8,455		10,626		8,449		8,440
Mortgage banking activities	5,347		4,776		6,811		2,268		4,864
Total banking and financial service revenues	30,247		29,212		32,766		26,271		32,085

Other income, net	184		305		791		597		391
Total non-interest income, net	30,431		29,517		33,557		26,868		32,476
Non-interest expense:
Compensation and employee benefits	39,565		39,932		42,959		38,468		38,467
Occupancy, equipment and infrastructure costs	14,629		14,820		15,284		15,124		14,393
General and administrative expenses	40,298		37,672		39,672		36,736		40,831
Foreclosed real estate and other repossessed assets expenses (income), net	310		1,028		1,803		1,272		(731)


Total non-interest expense	94,802		93,452		99,718		91,600		92,960
Income before income taxes	65,879		59,448		52,787		61,784		71,260
Income tax expense	14,078		13,876		2,440		14,784		20,129


Net income available to common shareholders	$	51,801	$	45,572	$	50,347	$	47,000	$	51,131

OFG Bancorp (NYSE: OFG)

Table 2-2: Consolidated Statements of Operations (Continued)


(Dollars in thousands) (unaudited)	Six-month period ended
	June 30, 2025		June 30, 2024
Interest income:
Loans
Non-PCD loans	$	279,487	$	270,713
PCD loans	30,908		33,138
Total interest income from loans	310,395		303,851
Investment securities and cash	73,174		67,233
Total interest income	383,569		371,084
Interest expense:
Deposits
Core deposits	70,174		73,780
Brokered deposits	3,997		824
Total deposits	74,171		74,604
Borrowings	8,399		5,053
Total interest expense	82,570		79,657
Net interest income	300,999		291,427
Provision for credit losses, excluding PCD loans	45,820		34,698
Provision for (recapture of) credit losses on PCD loans	1,546		(3,996)
Total provision for credit losses	47,366		30,702
Net interest income after provision for credit losses	253,633		260,725
Non-interest income:
Banking service revenues	31,963		36,040
Wealth management revenues	17,373		16,547
Mortgage banking activities	10,123		9,557
Total banking and financial service revenues	59,459		62,144

Other income (loss), net	489		680
Total non-interest income, net	59,948		62,824
Non-interest expense:
Compensation and employee benefits	79,497		78,283
Occupancy, equipment and infrastructure costs	29,449		28,715
General and administrative expenses	77,970		77,437
Foreclosed real estate and other repossessed assets expenses (income), net	1,338		(63)


Total non-interest expense	188,254		184,372
Income before income taxes	125,327		139,177
Income tax expense	27,954		38,354


Net income available to common shareholders	$	97,373	$	100,823

OFG Bancorp (NYSE: OFG)

Table 3: Consolidated Statements of Financial Condition


(Dollars in thousands) (unaudited)		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024
Cash and cash equivalents		$	851,798	$	710,600	$	591,137	$	680,587	$	740,429
Investments:
Trading securities		18		19		18		18		16
Investment securities available-for-sale, at fair value, no allowance for credit losses for any period
Mortgage-backed securities		2,406,956		2,413,420		2,336,505		2,228,399		1,895,067
US treasury securities		1,399		1,384		1,150		1,136		200,658
Other investment securities		519		533		550		567		581
Total investment securities available-for-sale		2,408,874		2,415,337		2,338,205		2,230,102		2,096,306

Investment securities held-to-maturity, at amortized cost, no allowance for credit losses for any period
Mortgage-backed securities		281,186		286,824		292,158		297,713		303,621

Other investment securities		35,000		35,000		35,000		35,000		35,000
Total investment securities held-to-maturity		316,186		321,824		327,158		332,713		338,621
Equity securities		59,556		48,785		54,896		45,692		41,074
Total investments		2,784,634		2,785,965		2,720,277		2,608,525		2,476,017
Loans, net		8,009,599		7,688,271		7,633,831		7,604,700		7,503,142
Other assets:

Prepaid expenses		119,766		68,216		72,010		98,755		88,137
Deferred tax asset, net		7,048		6,299		6,248		4,130		4,094
Foreclosed real estate and repossessed properties		7,363		10,927		10,597		11,388		12,239
Premises and equipment, net		102,095		103,577		104,512		105,279		104,384
Goodwill		84,241		84,241		84,241		84,241		84,241
Other intangibles		12,318		13,550		14,782		16,260		17,738
Right of use assets		17,284		18,663		19,197		20,355		20,298
Servicing asset		68,588		69,238		70,435		68,512		49,789
Accounts receivable and other assets		166,776		169,710		173,467		158,650		158,577
Total assets		$	12,231,510	$	11,729,257	$	11,500,734	$	11,461,382	$	11,259,085

Deposits:
Demand deposits		$	5,801,400	$	5,841,418	$	5,627,406	$	5,859,787	$	6,017,364
Savings accounts		2,131,076		2,107,622		2,064,916		2,019,832		2,002,342
Time deposits		1,963,336		1,808,117		1,756,389		1,653,402		1,585,126
Brokered deposits		248,353		165,812		156,075		75,631		418
Total deposits		10,144,165		9,922,969		9,604,786		9,608,652		9,605,250
Borrowings:
Securities sold under agreements to repurchase		27,463		—		75,222		—		—
Advances from FHLB and other borrowings		456,530		255,642		325,952		270,827		200,741

Total borrowings		483,993		255,642		401,174		270,827		200,741
Other liabilities:


Acceptances outstanding		27,572		35,269		31,526		26,055		28,504
Lease liability		19,354		20,795		21,388		22,604		22,605
GNMA buy-back option program liability	(22)	43,281		44,665		48,586		41,801		19,008
Deferred tax liability, net		48,374		44,223		40,718		57,503		33,873
Accrued expenses and other liabilities		130,318		110,333		98,185		115,808		121,402
Total liabilities		10,897,057		10,433,896		10,246,363		10,143,250		10,031,383
Stockholders' equity:

Common stock		59,885		59,885		59,885		59,885		59,885
Additional paid-in capital		639,901		638,475		639,786		639,487		637,895
Legal surplus		178,834		173,905		169,537		164,990		160,560
Retained earnings		833,187		802,024		771,993		737,815		706,807
Treasury stock, at cost		(328,572)		(320,927)		(296,991)		(251,055)		(250,951)
Accumulated other comprehensive loss, net		(48,782)		(58,001)		(89,839)		(32,990)		(86,494)
Total stockholders' equity		1,334,453		1,295,361		1,254,371		1,318,132		1,227,702
Total liabilities and stockholders' equity		$	12,231,510	$	11,729,257	$	11,500,734	$	11,461,382	$	11,259,085

OFG Bancorp (NYSE: OFG)

Table 4-1: Information on Loan Portfolio and Production


(Dollars in thousands) (unaudited)		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024
Non-PCD:
Mortgage, excluding GNMA buy-back option program		$	575,423	$	571,637	$	580,267	$	577,320	$	581,023
Mortgage GNMA buy-back option program	(22)	43,281		44,665		48,586		41,801		19,008

Commercial PR		2,511,495		2,337,872		2,310,281		2,318,964		2,291,753
Commercial US		825,254		727,409		704,081		680,388		662,026
Consumer		680,060		670,213		667,963		663,748		643,572
Auto		2,661,795		2,592,922		2,549,033		2,483,611		2,427,089
		7,297,308		6,944,718		6,860,211		6,765,832		6,624,471
Less: Allowance for credit losses		(182,765)		(174,752)		(170,709)		(155,133)		(150,849)
Total non-PCD loans held for investment, net		7,114,543		6,769,966		6,689,502		6,610,699		6,473,622

PCD:
Mortgage		795,863		819,271		841,964		864,491		885,096
Commercial PR		86,685		87,779		88,729		119,029		128,584
Consumer		575		595		598		560		605
Auto		160		281		460		664		951
		883,283		907,926		931,751		984,744		1,015,236
Less: Allowance for credit losses		(7,179)		(6,422)		(5,154)		(6,367)		(6,452)
Total PCD loans held for investment, net		876,104		901,504		926,597		978,377		1,008,784
Total loans held for investment		7,990,647		7,671,470		7,616,099		7,589,076		7,482,406
Mortgage loans held for sale		14,590		12,439		13,286		10,908		8,375
Other loans held for sale		4,362		4,362		4,446		4,716		12,361
Total loans, net		$	8,009,599	$	7,688,271	$	7,633,831	$	7,604,700	$	7,503,142

Loan Portfolio Summary:
Loans held for investment:
Mortgage, excluding GNMA buy-back option program		$	1,371,286	$	1,390,908	$	1,422,231	$	1,441,811	$	1,466,119
Mortgage GNMA buy-back option program	(22)	43,281		44,665		48,586		41,801		19,008

Commercial PR		2,598,180		2,425,651		2,399,010		2,437,993		2,420,337
Commercial US		825,254		727,409		704,081		680,388		662,026
Consumer		680,635		670,808		668,561		664,308		644,177
Auto		2,661,955		2,593,203		2,549,493		2,484,275		2,428,040
		8,180,591		7,852,644		7,791,962		7,750,576		7,639,707
Less: Allowance for credit losses		(189,944)		(181,174)		(175,863)		(161,500)		(157,301)
Total loans held for investment, net		7,990,647		7,671,470		7,616,099		7,589,076		7,482,406
Mortgage loans held for sale		14,590		12,439		13,286		10,908		8,375
Other loans held for sale		4,362		4,362		4,446		4,716		12,361
Total loans, net		$	8,009,599	$	7,688,271	$	7,633,831	$	7,604,700	$	7,503,142

OFG Bancorp (NYSE: OFG)

Table 4-2: Information on Loan Portfolio and Production


		Quarter Ended										Six-month period ended
(Dollars in thousands) (unaudited)		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		June 30, 2025		June 30, 2024
Loan production	(13)
Mortgage		$	55,575	$	37,014	$	42,562	$	37,091	$	38,501	$	92,589	$	70,681
Commercial PR		253,874		163,232		211,217		149,856		192,122		417,106		378,534
Commercial US		147,193		57,939		44,034		67,133		27,402		205,132		44,508
Consumer		76,757		67,859		68,941		86,575		80,348		144,616		148,939
Auto		250,269		232,897		242,225		231,573		250,638		483,166		482,952
Total		$	783,668	$	558,941	$	608,979	$	572,228	$	589,011	$	1,342,609	$	1,125,614

OFG Bancorp (NYSE: OFG)

Table 5-1: Average Balances, Net Interest Income and Net Interest Margin


	2025 Q2						2025 Q1						2024 Q4						2024 Q3						2024 Q2
(Dollars in thousands) (unaudited)	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest earning assets:
Cash equivalents	$	746,356	$	8,078	4.34	%	$	593,325	$	6,316	4.32	%	$	560,013	$	6,534	4.64	%	$	630,836	$	8,362	5.27	%	$	656,728	$	8,735	5.35	%
Investment securities	2,756,356		29,282		4.25	%	2,774,102		29,498		4.25	%	2,704,307		28,288		4.18	%	2,572,033		26,258		4.08	%	2,489,488		24,666		3.96	%
Loans held for investment
Non-PCD loans	7,067,367		141,797		8.05	%	6,864,180		137,690		8.14	%	6,763,828		139,659		8.21	%	6,634,043		139,358		8.36	%	6,576,634		137,741		8.42	%
PCD loans	896,523		15,190		6.78	%	920,577		15,718		6.83	%	953,738		15,682		6.58	%	1,000,468		15,052		6.02	%	1,035,773		16,516		6.38	%
Total loans	7,963,890		156,987		7.91	%	7,784,757		153,408		7.99	%	7,717,566		155,341		8.01	%	7,634,511		154,410		8.05	%	7,612,407		154,257		8.15	%
Total interest-earning assets	$	11,466,602	$	194,347	6.80	%	$	11,152,184	$	189,222	6.88	%	$	10,981,886	$	190,163	6.89	%	$	10,837,380	$	189,030	6.94	%	$	10,758,623	$	187,658	7.02	%

Interest bearing liabilities:
Deposits
NOW accounts	$	3,211,382	$	15,451	1.93	%	$	3,193,088	$	14,897	1.89	%	$	3,282,808	$	16,871	2.04	%	$	3,395,425	$	20,013	2.34	%	$	3,448,144	$	20,964	2.45	%
Savings accounts	2,119,036		5,175		0.98	%	2,093,431		5,028		0.97	%	2,038,523		5,062		0.99	%	2,009,028		4,777		0.95	%	2,020,653		4,587		0.91	%
Time deposits	1,824,006		13,960		3.07	%	1,795,517		13,777		3.11	%	1,689,684		13,247		3.12	%	1,616,946		12,202		3.00	%	1,552,829		11,109		2.88	%
Brokered deposits	227,659		2,350		4.14	%	158,222		1,647		4.22	%	96,535		1,020		4.21	%	21,068		221		4.17	%	1,566		21		5.28	%
	7,382,083		36,936		2.01	%	7,240,258		35,349		1.98	%	7,107,550		36,200		2.03	%	7,042,467		37,213		2.10	%	7,023,192		36,681		2.10	%
Non-interest bearing deposit accounts	2,581,877		—		—		2,541,743		—		—		2,544,198		—		—		2,567,353		—		—		2,578,216		—		—
Fair value premium and core deposit intangible amortization	—		943		—		—		943		—		—		1,132		—		—		1,131		—		—		1,131		—
Total deposits	9,963,960		37,879		1.52	%	9,782,001		36,292		1.50	%	9,651,748		37,332		1.54	%	9,609,820		38,344		1.59	%	9,601,408		37,812		1.58	%
Borrowings
Securities sold under agreements to repurchase	10,517		120		4.56	%	63,531		710		4.53	%	44,837		542		4.81	%	—		—		—	%	—		—		—	%
Advances from FHLB and other borrowings	434,303		4,420		4.08	%	295,135		3,149		4.33	%	284,394		3,151		4.41	%	241,062		2,811		4.64	%	219,903		2,521		4.61	%

Total borrowings	444,820		4,540		4.09	%	358,666		3,859		4.36	%	329,231		3,693		4.46	%	241,062		2,811		4.64	%	219,903		2,521		4.61	%
Total liabilities	$	10,408,780	$	42,419	1.63	%	$	10,140,667	$	40,151	1.61	%	$	9,980,979	$	41,025	1.64	%	$	9,850,882	$	41,155	1.66	%	$	9,821,311	$	40,333	1.65	%
Interest rate spread			$	151,928	5.17	%			$	149,071	5.27	%			$	149,138	5.25	%			$	147,875	5.28	%			$	147,325	5.36	%
Net interest margin					5.31	%					5.42	%					5.40	%					5.43	%					5.51	%

Core deposits: (Non-GAAP)

NOW accounts	$	3,211,382	$	15,451	1.93	%	$	3,193,088	$	14,897	1.89	%	$	3,282,808	$	16,871	2.04	%	$	3,395,425	$	20,013	2.34	%	$	3,448,144	$	20,964	2.45	%
Savings accounts	2,119,036		5,175		0.98	%	2,093,431		5,028		0.97	%	2,038,523		5,062		0.99	%	2,009,028		4,777		0.95	%	2,020,653		4,587		0.91	%
Time deposits	1,824,006		13,960		3.07	%	1,795,517		13,777		3.11	%	1,689,684		13,247		3.12	%	1,616,946		12,202		3.00	%	1,552,829		11,109		2.88	%
	7,154,424		34,586		1.94	%	7,082,036		33,702		1.93	%	7,011,015		35,180		2.00	%	7,021,399		36,992		2.10	%	7,021,626		36,660		2.10	%
Non-interest bearing deposit accounts	2,581,877		—		—		2,541,743		—		—		2,544,198		—		—		2,567,353		—		—		2,578,216		—		—
Total core deposits	$	9,736,301	$	34,586	1.42	%	$	9,623,779	$	33,702	1.42	%	$	9,555,213	$	35,180	1.46	%	$	9,588,752	$	36,992	1.53	%	$	9,599,842	$	36,660	1.54	%
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings	$	444,820	$	4,540	4.09	%	$	358,666	$	3,859	4.36	%	$	329,231	$	3,693	4.46	%	$	241,062	$	2,811	4.64	%	$	219,903	$	2,521	4.61	%
Brokered deposits	227,659		2,350		4.14	%	158,222		1,647		4.22	%	96,535		1,020		4.21	%	21,068		221		4.17	%	1,566		21		5.28	%
Total borrowings and brokered deposits	$	672,479	$	6,890	4.11	%	$	516,888	$	5,506	4.32	%	$	425,766	$	4,713	4.40	%	$	262,130	$	3,032	4.60	%	$	221,469	$	2,542	4.62	%

OFG Bancorp (NYSE: OFG)

Table 5-2: Average Balances, Net Interest Income and Net Interest Margin (Continued)


	2025 YTD						2024 YTD
(Dollars in thousands) (unaudited)	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate

Interest earning assets:
Cash equivalents	$	670,264	$	14,393	4.33	%	$	628,709	$	16,731	5.35	%
Investment securities	2,765,180		58,781		4.25	%	2,543,515		50,502		3.97	%
Loans held for investment
Non-PCD loans	6,966,335		279,487		8.09	%	6,526,341		270,713		8.34	%
PCD loans	908,484		30,908		6.80	%	1,050,741		33,138		6.31	%
Total loans	7,874,819		310,395		7.95	%	7,577,082		303,851		8.06	%
Total interest-earning assets	$	11,310,263	$	383,569	6.84	%	$	10,749,306	$	371,084	6.94	%

Interest bearing liabilities:
Deposits
NOW accounts	$	3,202,286	$	30,347	1.91	%	$	3,460,498	$	41,479	2.41	%
Savings accounts	2,106,304		10,202		0.98	%	2,031,759		9,004		0.89	%
Time deposits	1,809,840		27,738		3.09	%	1,516,791		21,032		2.79	%
Brokered deposits	193,132		3,997		4.17	%	30,152		824		5.50	%
	7,311,562		72,284		1.99	%	7,039,200		72,339		2.07	%
Non-interest bearing deposit accounts	2,561,921		—		—	%	2,557,268		—		—	%
Fair value premium and core deposit intangible amortization	—		1,887		—		—		2,265		—
Total deposits	9,873,483		74,171		1.51	%	9,596,468		74,604		1.56	%
Borrowings
Securities sold under agreements to repurchase	36,878		830		4.54	%	—		—		—	%
Advances from FHLB and other borrowings	365,103		7,569		4.18	%	220,338		5,053		4.61	%

Total borrowings	401,981		8,399		4.21	%	220,338		5,053		4.61	%
Total interest-bearing liabilities	$	10,275,464	$	82,570	1.62	%	$	9,816,806	$	79,657	1.63	%
Interest rate spread			$	300,999	5.22	%			$	291,427	5.31	%
Net interest margin					5.37	%					5.45	%

Core deposits: (Non-GAAP)

NOW accounts	$	3,202,286	$	30,347	1.91	%	$	3,460,498	$	41,479	2.41	%
Savings accounts	2,106,304		10,202		0.98	%	2,031,759		9,004		0.89	%
Time deposits	1,809,840		27,738		3.09	%	1,516,791		21,032		2.79	%
	7,118,430		68,287		1.93	%	7,009,048		71,515		2.05	%
Non-interest bearing deposit accounts	2,561,921		—		—	%	2,557,268		—		—	%
Total core deposits	$	9,680,351	$	68,287	1.42	%	$	9,566,316	$	71,515	1.50	%
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings	$	401,981	$	8,399	4.21	%	$	220,338	$	5,053	4.61	%
Brokered deposits	193,132		3,997		4.17	%	30,152		824		5.50	%
Total borrowings and brokered deposits	$	595,113	$	12,396	4.20	%	$	250,490	$	5,877	4.72	%

OFG Bancorp (NYSE: OFG)

Table 6-1: Loan Information and Performance Statistics


	2025			2025			2024			2024			2024
(Dollars in thousands) (unaudited)	Q2			Q1			Q4			Q3			Q2
Net Charge-offs
Non-PCD
Mortgage:
Charge-offs	$	11		$	23		$	24		$	37		$	1
Recoveries	(745)			(186)			(190)			(72)			(540)
Total mortgage	(734)			(163)			(166)			(35)			(539)
Commercial PR:
Charge-offs	273			112			713			139			160
Recoveries	(88)			(152)			(381)			(1,455)			(111)
Total commercial PR	185			(40)			332			(1,316)			49
Commercial US:
Charge-offs	—			2,918			315			—			1,574
Recoveries	—			—			—			(24)			(45)
Total commercial US	—			2,918			315			(24)			1,529
Consumer:
Charge-offs	6,970			8,252			8,242			8,863			8,180
Recoveries	(848)			(725)			(1,792)			(830)			(851)
Total consumer	6,122			7,527			6,450			8,033			7,329
Auto:
Charge-offs	14,870			18,192			18,503			16,371			12,559
Recoveries	(7,570)			(7,674)			(8,137)			(6,300)			(5,926)
Total auto	7,300			10,518			10,366			10,071			6,633
Total	$	12,873		$	20,760		$	17,297		$	16,729		$	15,001

PCD
Mortgage:
Charge-offs	$	59		$	—		$	—		$	66		$	29
Recoveries	(91)			(341)			(345)			(250)			(93)
Total mortgage	(32)			(341)			(345)			(184)			(64)
Commercial PR:
Charge-offs	31			—			39			663			265
Recoveries	(63)			(25)			(1,026)			(70)			(158)
Total commercial PR	(32)			(25)			(987)			593			107
Consumer:
Charge-offs	1			—			—			—			—
Recoveries	(11)			(6)			(13)			(19)			(7)
Total consumer	(10)			(6)			(13)			(19)			(7)
Auto:
Charge-offs	13			1			1			9			6
Recoveries	(28)			(19)			(91)			(25)			(30)
Total auto	(15)			(18)			(90)			(16)			(24)
Total	$	(89)		$	(390)		$	(1,435)		$	374		$	12

Total Net Charge-offs	$	12,784		$	20,370		$	15,862		$	17,103		$	15,013
Net Charge-off Rates
Mortgage	(0.22)		%	(0.14)		%	(0.14)		%	(0.06)		%	(0.16)		%
Commercial PR	0.02		%	(0.01)		%	(0.11)		%	(0.12)		%	0.03		%
Commercial US	—		%	1.62		%	0.18		%	(0.01)		%	0.85		%
Consumer	3.50		%	4.34		%	3.72		%	4.70		%	4.42		%
Auto	1.11		%	1.63		%	1.63		%	1.64		%	1.11		%
Total	0.64		%	1.05		%	0.82		%	0.90		%	0.79		%
Average Loans Held For Investment
Mortgage	$	1,379,986		$	1,404,961		$	1,429,022		$	1,446,855		$	1,479,583
Commercial PR	2,463,009			2,392,006			2,386,204			2,393,891			2,363,831
Commercial US	786,637			719,838			689,310			658,908			716,089
Consumer	698,581			693,563			692,119			681,391			663,315
Auto	2,635,677			2,574,389			2,520,911			2,453,466			2,389,589
Total	$	7,963,890		$	7,784,757		$	7,717,566		$	7,634,511		$	7,612,407

(a) Refer to “(c)” in Table 1-1.

OFG Bancorp (NYSE: OFG)

Table 6-2: Loan Information and Performance Statistics (Excludes PCD Loans)


		2025			2025			2024			2024			2024
(Dollars in thousands) (unaudited)		Q2			Q1			Q4			Q3			Q2
Early Delinquency (30 - 89 days past due)
Mortgage		$	10,313		$	9,830		$	11,431		$	10,822		$	12,767
Commercial		3,121			1,412			6,825			2,426			7,781

Consumer		13,093			12,129			14,281			13,485			13,102
Auto		152,732			128,619			170,013			161,025			152,817
Total		$	179,259		$	151,990		$	202,550		$	187,758		$	186,467
Early Delinquency Rates (30 - 89 days past due)
Mortgage		1.67		%	1.59		%	1.82		%	1.75		%	2.13		%
Commercial		0.09		%	0.05		%	0.23		%	0.08		%	0.26		%

Consumer		1.93		%	1.81		%	2.14		%	2.03		%	2.04		%
Auto		5.74		%	4.96		%	6.67		%	6.48		%	6.30		%
Total		2.46		%	2.19		%	2.95		%	2.78		%	2.81		%
Total Delinquency (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation		$	19,946		$	21,457		$	22,840		$	22,954		$	23,443
GNMA's buy-back option program	(22)	43,281			44,665			48,586			41,801			19,008
Total mortgage		63,227			66,122			71,426			64,755			42,451
Commercial		14,282			17,692			20,193			17,460			17,703

Consumer		16,839			15,611			18,471			17,094			16,405
Auto		167,653			142,662			190,068			178,003			169,506
Total		$	262,001		$	242,087		$	300,158		$	277,312		$	246,065
Total Delinquency Rates (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation		3.22		%	3.48		%	3.63		%	3.71		%	3.91		%
GNMA's buy-back option program	(22)	7.00		%	7.25		%	7.73		%	6.75		%	3.17		%
Total mortgage		10.22		%	10.73		%	11.36		%	10.46		%	7.07		%
Commercial		0.43		%	0.58		%	0.67		%	0.58		%	0.60		%

Consumer		2.48		%	2.33		%	2.77		%	2.58		%	2.55		%
Auto		6.30		%	5.50		%	7.46		%	7.17		%	6.98		%
Total		3.59		%	3.49		%	4.38		%	4.10		%	3.71		%
Nonperforming Assets	(14)
Mortgage		$	15,804		$	16,909		$	16,928		$	18,723		$	17,325
Commercial		54,003			44,150			38,913			36,099			34,477

Consumer		3,790			3,482			4,207			3,627			3,329
Auto		14,968			14,043			20,055			16,978			16,689
Total nonperforming loans		88,565			78,584			80,103			75,427			71,820
Foreclosed real estate		2,603			4,271			4,002			4,419			6,526
Other repossessed assets		4,760			6,656			6,595			6,969			5,713
Total nonperforming assets		$	95,928		$	89,511		$	90,700		$	86,815		$	84,059
Nonperforming Loan Rates
Mortgage		2.55		%	2.74		%	2.69		%	3.02		%	2.89		%
Commercial		1.62		%	1.44		%	1.29		%	1.20		%	1.17		%

Consumer		0.56		%	0.52		%	0.63		%	0.55		%	0.52		%
Auto		0.56		%	0.54		%	0.79		%	0.68		%	0.69		%
Total loans		1.21		%	1.13		%	1.17		%	1.11		%	1.08		%

OFG Bancorp (NYSE: OFG)

Table 6-3: Loan Information and Performance Statistics


		2025			2025			2024			2024			2024
(Dollars in thousands) (unaudited)		Q2			Q1			Q4			Q3			Q2
Nonperforming PCD Loans	(14)
Mortgage		$	233		$	234		$	239		$	241		$	244
Commercial		8,603			8,666			2,641			3,920			4,748

Total nonperforming loans		$	8,836		$	8,900		$	2,880		$	4,161		$	4,992
Nonperforming PCD Loan Rates
Mortgage		0.03		%	0.03		%	0.03		%	0.03		%	0.03		%
Commercial		9.92		%	9.87		%	2.98		%	3.29		%	3.69		%

Total		1.00		%	0.98		%	0.31		%	0.42		%	0.49		%
Total PCD Loans Held for Investment
Mortgage		$	795,863		$	819,271		$	841,964		$	864,491		$	885,096
Commercial		86,685			87,779			88,729			119,029			128,584
Consumer		575			595			598			560			605
Auto		160			281			460			664			951
Total loans		$	883,283		$	907,926		$	931,751		$	984,744		$	1,015,236




Total Nonperforming Loans	(14)
Mortgage		$	16,037		$	17,143		$	17,167		$	18,964		$	17,569
Commercial		62,606			52,816			41,554			40,019			39,225

Consumer		3,790			3,482			4,207			3,627			3,329
Auto		14,968			14,043			20,055			16,978			16,689
Total nonperforming loans		$	97,401		$	87,484		$	82,983		$	79,588		$	76,812
Total Nonperforming Loan Rates
Mortgage		1.13		%	1.19		%	1.17		%	1.28		%	1.18		%
Commercial		1.83		%	1.68		%	1.34		%	1.28		%	1.27		%

Consumer		0.56		%	0.52		%	0.63		%	0.55		%	0.52		%
Auto		0.56		%	0.54		%	0.79		%	0.68		%	0.69		%
Total		1.19		%	1.11		%	1.06		%	1.03		%	1.01		%
Total Loans Held for Investment
Mortgage		$	1,414,567		$	1,435,573		$	1,470,817		$	1,483,612		$	1,485,127
Commercial		3,423,434			3,153,060			3,103,091			3,118,381			3,082,363

Consumer		680,635			670,808			668,561			664,308			644,177
Auto		2,661,955			2,593,203			2,549,493			2,484,275			2,428,040
Total loans		$	8,180,591		$	7,852,644		$	7,791,962		$	7,750,576		$	7,639,707

(a) Refer to “(a)” in Table 1-1.

OFG Bancorp (NYSE: OFG)

Table 7: Allowance for Credit Losses


	Quarter Ended June 30, 2025
(Dollars in thousands) (unaudited)	Mortgage			Commercial			Consumer			Auto			Total
Allowance for credit losses Non-PCD:
Balance at beginning of period	$	5,922		$	45,452		$	32,236		$	91,142		$	174,752
(Recapture of) Provision for credit losses	(972)			6,319			6,708			8,831			20,886
Charge-offs	(11)			(273)			(6,970)			(14,870)			(22,124)
Recoveries	745			88			848			7,570			9,251
Balance at end of period	$	5,684		$	51,586		$	32,822		$	92,673		$	182,765

Allowance for credit losses PCD:
Balance at beginning of period	$	4,068		$	2,338		$	11		$	5		$	6,422
(Recapture of) Provision for credit losses	(417)			1,112			(11)			(16)			668
Charge-offs	(59)			(31)			(1)			(13)			(104)
Recoveries	91			63			11			28			193
Balance at end of period	$	3,683		$	3,482		$	10		$	4		$	7,179

Allowance for credit losses summary:
Balance at beginning of period	$	9,990		$	47,790		$	32,247		$	91,147		$	181,174
(Recapture of) Provision for credit losses	(1,389)			7,431			6,697			8,815			21,554
Charge-offs	(70)			(304)			(6,971)			(14,883)			(22,228)
Recoveries	836			151			859			7,598			9,444
Balance at end of period	$	9,367		$	55,068		$	32,832		$	92,677		$	189,944
Allowance coverage ratio	0.66		%	1.61		%	4.82		%	3.48		%	2.32		%

OFG Bancorp (NYSE: OFG)

Table 8-1: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital

In addition to disclosing required regulatory capital measures, we also report certain non-GAAP capital measures that management uses in assessing its capital adequacy. These non-GAAP measures include tangible common equity ("TCE") and TCE ratio. The table below provides the details of the calculation of our regulatory capital and non-GAAP capital measures. While our non-GAAP capital measures are widely used by investors, analysts and bank regulatory agencies to assess the capital position of financial services companies, they may not be comparable to similarly titled measures reported by other companies.


	2025			2025			2024			2024			2024
(Dollars in thousands) (unaudited)	Q2			Q1			Q4			Q3			Q2
Stockholders' Equity to Non-GAAP Tangible Common Equity
Total stockholders' equity	$	1,334,453		$	1,295,361		$	1,254,371		$	1,318,132		$	1,227,702
Less: Intangible assets	(96,559)			(97,791)			(99,023)			(100,501)			(101,979)


Tangible common equity (Non-GAAP)	$	1,237,894		$	1,197,570		$	1,155,348		$	1,217,631		$	1,125,723

Common shares outstanding at end of period	44,742			44,924			45,440			46,559			46,562
Tangible book value per common share (Non-GAAP)	$	27.67		$	26.66		$	25.43		$	26.15		$	24.18
Total Assets to Non-GAAP Tangible Assets
Total assets	$	12,231,510		$	11,729,257		$	11,500,734		$	11,461,382		$	11,259,085
Less: Intangible assets	(96,559)			(97,791)			(99,023)			(100,501)			(101,979)
Tangible assets (Non-GAAP)	$	12,134,951		$	11,631,466		$	11,401,711		$	11,360,881		$	11,157,106
Non-GAAP TCE Ratio
Tangible common equity	$	1,237,894		$	1,197,570		$	1,155,348		$	1,217,631		$	1,125,723
Tangible assets	12,134,951			11,631,466			11,401,711			11,360,881			11,157,106
TCE ratio	10.20		%	10.30		%	10.13		%	10.72		%	10.09		%
Average Equity to Non-GAAP Average Tangible Common Equity
Average total stockholders' equity	$	1,318,886		$	1,290,888		$	1,304,779		$	1,280,760		$	1,223,669



Less: Average intangible assets	(96,983)			(98,229)			(99,558)			(101,042)			(102,499)
Average tangible common equity (Non-GAAP)	$	1,221,903		$	1,192,659		$	1,205,221		$	1,179,718		$	1,121,170

OFG Bancorp (NYSE: OFG)

Table 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures (Continued)


		BASEL III
		Standardized
		2025			2025			2024			2024			2024
(Dollars in thousands) (unaudited)		Q2			Q1			Q4			Q3			Q2
Regulatory Capital Metrics
Common equity Tier 1 capital		$	1,293,041		$	1,261,662		$	1,256,906		$	1,260,944		$	1,223,031
Tier 1 capital		1,293,041			1,261,662			1,256,906			1,260,944			1,223,031
Total risk-based capital	(15)	1,409,447			1,373,004			1,367,692			1,371,041			1,330,474
Risk-weighted assets		9,245,125			8,843,043			8,812,422			8,772,207			8,561,549
Regulatory Capital Ratios
Common equity Tier 1 capital ratio	(16)	13.99		%	14.27		%	14.26		%	14.37		%	14.29		%
Tier 1 risk-based capital ratio	(17)	13.99		%	14.27		%	14.26		%	14.37		%	14.29		%
Total risk-based capital ratio	(18)	15.25		%	15.53		%	15.52		%	15.63		%	15.54		%
Leverage ratio	(19)	10.83		%	10.83		%	10.93		%	11.12		%	10.86		%

Common Equity Tier 1 Capital Ratio Under Basel III Standardized Approach
Total stockholders' equity		$	1,334,453		$	1,295,361		$	1,254,371		$	1,318,132		$	1,227,702
Plus: CECL transition adjustment	(20)	—			—			6,852			6,852			6,852


Plus: Unrealized losses on available-for-sale securities, net of income tax		48,782			58,001			89,839			32,990			86,494

Total adjusted stockholders’equity		1,383,235			1,353,362			1,351,062			1,357,974			1,321,048
Less: Disallowed goodwill, net		(80,079)			(80,742)			(82,355)			(84,241)			(84,241)
Disallowed other intangible assets, net		(10,115)			(10,958)			(11,801)			(12,789)			(13,776)

Common equity Tier 1 capital and Tier 1 capital		1,293,041			1,261,662			1,256,906			1,260,944			1,223,031




Plus Tier 2 capital: Qualifying allowance for credit losses		116,406			111,342			110,786			110,097			107,443
Total risk-based capital		$	1,409,447		$	1,373,004		$	1,367,692		$	1,371,041		$	1,330,474

OFG Bancorp (NYSE: OFG)

Table 9: Notes to Financial Summary, Selected Metrics, Loans, and Consolidated Financial Statements (Tables 1 - 8)


(1)			Total banking and financial service revenues.
(2)			Net interest income plus non-interest income, net (core)
(3)			Calculated based on net income available to common shareholders divided by average common shares outstanding for the period.
(4)			Calculated based on net income available to common shareholders divided by total average common shares outstanding and equivalents for the period as if converted.
(5)			Tangible book value per common share is a non-GAAP measure calculated based on tangible common equity divided by common shares outstanding. See "Tables 8-1 and 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures" for additional information.
(6)			Information includes all loans held for investment, including PCD loans.
(7)			Calculated based on annualized net interest income for the period divided by average interest-earning assets for the period.
(8)			Calculated based on annualized income, net of tax, for the period divided by average total assets for the period.
(9)			Calculated based on annualized income available to common shareholders for the period divided by average tangible common equity for the period.
(10)			Calculated based on non-interest expense for the period divided by total net interest income and total banking and financial services revenues for the period.
(11)			Calculated based on annualized net charge-offs for the period divided by average loans held for investment for the period.
(12)			Non-GAAP ratios. See "Tables 8-1 and 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures" for information on the calculation of each of these ratios.
(13)			Production of new loans (excluding renewals).
(14)			Most PCD loans are considered to be performing due to the application of the accretion method, in which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses. Therefore, they are not included as non-performing loans. PCD loan pools that are not accreting interest income are deemed to be non-performing loans and presented separately.
(15)			Total risk-based capital equals the sum of Tier 1 capital and Tier 2 capital.
(16)			Common equity Tier 1 capital ratio is a regulatory capital measure calculated based on Common equity Tier 1 capital divided by risk-weighted assets.
(17)			Tier 1 risk-based capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets.
(18)			Total risk-based capital ratio is a regulatory capital measure calculated based on Total risk-based capital divided by risk-weighted assets.
(19)			Leverage capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by average assets, after certain adjustments.
(20)			In March 2020, in light of strains on the U.S. economy as a result of the coronavirus disease (COVID-19), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued an interim final rule that provided the option to temporarily delay the effects of CECL on regulatory capital for two years, followed by a three-year transition period. In addition, for the first two years, a uniform 25% “scaling factor” is introduced to approximate the portion of the post day-one allowance attributable to CECL relative to the incurred loss methodology. The 25% scaling factor is calibrated to approximate an overall after-tax impact of differences in allowances under CECL versus the incurred loss methodology.
(21)			Pre-provision net revenues is a non-GAAP measure calculated based on net interest income plus total non-interest income, net, less total non-interest expenses for the period.
(22)			Under the GNMA program, issuers such as OFG Bancorp have the option but not the obligation to repurchase loans that are 90 days or more past due. For accounting purposes, these loans subject to the repurchase option are required to be reflected (rebooked) on the financial statements of the Company with an offsetting liability.