OFG Bancorp (OFG)

OFG Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	607.04	554.74	460.16	433.79	457.44	339.88
Interest Income on Investments	129.28	94.14	55.41	15.41	15.91	33.92
Total Interest Income	736.31	648.88	515.57	449.2	473.35	373.8
Interest Paid on Deposits	139.68	75.97	32.24	39.01	60.2	39.36
Interest Paid on Borrowings	13.79	12.05	1.25	2.82	4.72	11.65
Total Interest Expense	153.47	88.01	33.49	41.83	64.92	51
Net Interest Income	582.84	560.87	482.08	407.37	408.43	322.79
Net Interest Income Growth (YoY)	5.47%	16.34%	18.34%	-0.26%	26.53%	2.18%
Trust Income	34.98	32.99	32.64	35.04	31.79	26.22
Mortgage Banking Activities	16.08	18.79	21.93	22.51	16.5	4.28
Gain (Loss) on Sale of Assets	-	-	0	-	-	-
Gain (Loss) on Sale of Investments	-0.01	-1.15	-0.25	0.02	4.73	8.27
Other Non-Interest Income	76.89	77.75	77.33	77.12	64.06	43.41
Total Non-Interest Income	128.4	128.38	131.65	134.69	117.08	82.19
Non-Interest Income Growth (YoY)	4.45%	-2.48%	-2.26%	15.04%	42.46%	2.61%
Revenues Before Loan Losses	711.24	689.25	613.73	542.06	525.51	404.98
Provision for Loan Losses	71.78	60.64	24.12	0.22	92.67	96.79
Revenue	639.46	628.61	589.61	541.84	432.84	308.19
Revenue Growth (YoY)	2.17%	6.62%	8.82%	25.18%	40.45%	-9.33%
Salaries and Employee Benefits	149.37	148.03	138.75	127.2	130.76	80.4
Occupancy Expenses	47.67	46.84	38.75	36	31.12	30.05
Federal Deposit Insurance	11.07	10.49	9.9	10.09	11.42	3.31
Selling, General & Administrative	81.75	81.43	80.7	76.17	71.23	38.84
Other Non-Interest Expense	75.06	74.18	79.53	79.3	76.91	45.1
Total Non-Interest Expense	367.27	360.57	345.55	325.76	329.2	209.19
EBT Excluding Unusual Items	272.19	268.05	244.06	216.08	103.64	99
Other Unusual Items	-	-	0.04	-1.48	7.27	0.31
Pretax Income	269.39	265.25	244.11	214.6	94.83	75.25
Income Tax Expense	74.97	83.38	77.87	68.45	20.5	21.41
Net Income	194.42	181.87	166.24	146.15	74.33	53.84
Preferred Dividends & Other Adjustments	-	-	-	1.26	6.51	6.51
Net Income to Common	194.42	181.87	166.24	144.9	67.82	47.33
Net Income Growth	7.03%	9.40%	13.74%	96.63%	38.05%	-36.21%
Basic Shares Outstanding	47	47	48	51	51	51
Diluted Shares Outstanding	47	48	48	51	52	52
Shares Change (YoY)	-1.08%	-1.83%	-5.71%	-0.36%	-0.32%	0.72%
EPS (Basic)	4.14	3.85	3.46	2.84	1.32	0.92
EPS (Diluted)	4.13	3.83	3.44	2.81	1.32	0.92
EPS Growth	8.35%	11.34%	22.42%	112.88%	43.48%	-39.36%
Dividend Per Share	0.970	0.880	0.700	0.400	0.280	0.280
Dividend Growth	12.79%	25.71%	75.00%	42.86%	0%	12.00%
Effective Tax Rate	27.83%	31.43%	31.90%	31.90%	21.62%	28.45%

Source: S&P Capital IQ. Banks template. Financial Sources.