OFG on NYSE

OFG Bancorp

Financial holding company located in San Juan, Puerto Rico

OFG Bancorp, founded in 1964, is the financial holding company for Oriental Bank, located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and the U.S. Virgin Islands through its principal subsidiaries: Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC. Its headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1964Founded1

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  • TickerOFG on NYSE1
  • Industryfinancial services1
  • HeadquartersSan Juan1
  • Founded inHumacao1
  • Websitewww.ofgbancorp.com
  • Incorporated inPR5
  • Business address254 Mu?Oz Rivera Avenue, San Juan, Pr 009185
  • Filer categoryLarge accelerated filer5
  • Legal formCorporation4
  • LEI549300Q4QEXJ37LEXQ064
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressOriental Center, Legal Department, 00918 San Juan, Puerto Rico4
  • Registered withPuerto Rico Department of State, 936294
OFG HQ
Photo: Endeavor6499, CC BY-SA 4.0, via Wikimedia Commons8

OFG Bancorp, founded in 1964, is the financial holding company for Oriental Bank, located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and the U.S. Virgin Islands through its principal subsidiaries: Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC. Its headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918. OFG Bancorp has $12.4 billion in assets (2025), and approximately 2,185 employees (2025).3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

15.2%Return on equity9
$277.8MFree cash flow9

Financial statements

Revenue101112$0 in 2023
02019: $0$020192020: $0$020202021: $0$020212022: $0$020222023: $0$02023
Net income101112139$181.9M in 2023+238% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $53.8M$53.8M20192020: $74.3M$74.3M2020+38%2021: $146.2M$146.2M2021+97%2022: $166.2M$166.2M2022+14%2023: $181.9M$181.9M2023+9%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Loans$629.9M$613.6M$554.7M
Mortgage-backed securities$116.0M$91.8M$50.4M
Investment securities and other$35.0M$44.9M$43.8M
Total interest income$780.9M$750.3M$648.9M
Deposits$152.7M$150.3M$76.0M
Securities sold under agreements to repurchase$2.8M$542.0K$3.3M
Advances from FHLB and other borrowings$17.0M$11.0M$8.7M
Total interest expense$172.5M$161.8M$88.0M
Net interest income$608.5M$588.4M$560.9M
Provision for credit losses$107.5M$82.3M$60.6M
Net interest income after provision for credit losses$501.0M$506.2M$500.2M
Banking service revenue$64.4M$66.9M$70.1M
Wealth management revenue$37.8M$35.6M$33.0M
Mortgage banking activities$19.1M$18.6M$18.8M
Total banking and financial service revenues$121.3M$121.2M$121.9M
Other non-interest income$1.6M$2.1M$6.5M
Total non-interest income$123.0M$123.2M$128.4M
Compensation and employee benefits$162.4M$159.7M$155.8M
Occupancy, equipment and infrastructure costs$59.8M$59.1M$59.2M
Electronic banking charges$47.1M$42.8M$41.3M
Information technology expenses$26.8M$27.6M$27.2M
Professional and service fees$23.7M$18.9M$18.8M
Taxes, other than payroll and income taxes$15.8M$13.9M$13.0M
Insurance$11.4M$11.3M$10.5M
Advertising, business promotion, and strategic initiatives$11.4M$9.7M$8.7M
Loan servicing and clearing expenses$9.1M$7.9M$7.8M
Communication$4.6M$4.6M$4.7M
Printing, postage, stationery and supplies$4.1M$3.8M$3.3M
Director and investor relations$1.4M$1.2M$1.4M
Foreclosed real estate and other repossessed assets expenses (income), net$1.0M$3.0M-$405.0K
Other$11.2M$12.1M$12.1M
Total non-interest expense$389.8M$375.7M$363.4M
Income before income taxes$234.1M$253.7M$265.2M
Income tax expense$29.0M$55.6M$83.4M
Net income available to common shareholders$205.1M$198.2M$181.9M
Basic (in dollars per share)$4.60$4.25$3.85
Diluted (in dollars per share)$4.58$4.23$3.83
Average common shares outstanding and equivalents (in shares)44.8M shares46.9M shares47.6M shares
Cash dividends per share of common stock (in dollars per share)$1.20$1.00$0.88

Compare OFG Bancorp with another company

Corporate structure

OFG Bancorp sits at the top of its group. 14 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of OFG Bancorp

  • OFG Bancorp San Juan, Puerto Rico
    • 1. Oriental International Bank Inc . – a corporation and an international banking entity organized and existing under the laws of the Commonwealth of Subsidiary · Puerto Rico, United States
    • 2. OFG USA, LLC – a limited liability company organized and existing under the laws of the State of Subsidiary · Delaware, United States
    • 3. OBPEF LLC – a limited liability company and a private equity fund organized and existing under the the laws of the Commonwealth of Subsidiary · Puerto Rico, United States
    • A) ORIENTAL BANK – an FDIC insured non-member commercial bank organized and existing under the laws of the Commonwealth of Subsidiary · Puerto Rico, United States
    • B) ORIENTAL FINANCIAL SERVICES LLC - a limited liability company and a registered securities broker dealer and investment adviser organized and existing under the laws of the Commonwealth of Subsidiary · Puerto Rico, United States
    • C) ORIENTAL INSURANCE LLC – a limited liability company and a registered insurance agency organized and existing under the laws of the Commonwealth of Subsidiary · Puerto Rico, United States
    • D) OFG REINSURANCE LTD – a limited liability company and a captive reinsurance company organized and existing under the laws of Subsidiary · Cayman Islands
    • E) OFG VENTURES LLC – a limited liability company organized and existing under the laws of the State of Subsidiary · Delaware, United States
    • ORIENTAL BANK Subsidiary · San Juan, Puerto Rico
      • ORIENTAL INTERNATIONAL BANK, INC. Subsidiary · San Juan, Puerto Rico
      • DGI Balanced Fund Fund · San Juan, Puerto Rico
    • Oriental Bank Subsidiary
    • ORIENTAL FINANCIAL SERVICES LLC Subsidiary · San Juan, Puerto Rico

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G; owners and owned firms from Form ADV, the registration investment advisers file with the SEC. Each entity in the chart links to its source.

What it owns

What OFG Bancorp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$188.2M9 Dec 31, 2025$197.9M9 Dec 31, 2024−4.9%
Accumulated depreciation$94.7M9 Dec 31, 2025$93.3M9 Dec 31, 2024+1.4%
Property and equipment, net$93.6M9 Dec 31, 2025$104.5M9 Dec 31, 2024−10.5%
Operating-lease assets (leased space)$21.3M9 Dec 31, 2025$19.2M9 Dec 31, 2024+10.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.0B9 Dec 31, 2025$591.1M9 Dec 31, 2024+76.0%
Loans, net of allowance$8.0B9 Dec 31, 2025$7.6B9 Dec 31, 2024+5.0%
Deposits held (banks)$10.3B9 Dec 31, 2025$9.6B9 Dec 31, 2024+6.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$84.2M9 Dec 31, 2025$84.2M9 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$9.9M9 Dec 31, 2025$14.8M9 Dec 31, 2024−33.3%
Finite-lived intangibles, gross$54.2M9 Dec 31, 2025$54.2M9 Dec 31, 20240%
Accumulated amortization$44.3M9 Dec 31, 2025$39.4M9 Dec 31, 2024+12.5%
Finite-lived intangibles, net$9.9M9 Dec 31, 2025$14.8M9 Dec 31, 2024−33.3%

Properties, in its own words

At December 31, 2025, OFG owns a fifteen-story office building located at 254 Muñoz Rivera Avenue, San Juan, Puerto Rico, known as “Oriental Center”, where its executive offices are located. OFG operates a full-service branch at the plaza level and its centralized units and subsidiaries occupy approximately 99% of the office floor space. Approximately 1% of the office space is leased to outside tenants.

In addition, at December 31, 2025, the Bank owns three branch premises and leases thirty-nine branch locations throughout Puerto Rico and owns two branch premises in the USVI.

The rest of Item 2

The Bank’s management believes that each of its facilities is well maintained and suitable for its purpose and can readily obtain appropriate additional space as may be required at competitive rates by extending expiring leases or finding alternative space.

At December 31, 2025, the aggregate future rental commitments under the terms of its leases, exclusive of taxes, insurance and maintenance expenses payable by OFG, was approximately $23.2 million.

OFG’s investment in premises and equipment, exclusive of leasehold improvements at 2025, was $164.0 million, gross of accumulated depreciation.

Item 2 of the 10-K filed Feb 25, 2026.17

Leadership

Who has led OFG Bancorp, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (46)

Products and brands

  • bank

Listed on Wikidata.1

Oriental Bank

Oriental Financial Services LLC

Oriental Insurance LLC

From Wikipedia’s article on OFG Bancorp, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Subsidiaries

  • Oriental Bank

Subsidiaries (Exhibit 21)

  • 1. Oriental International Bank Inc . – a corporation and an international banking entity organized and existing under the laws of the Commonwealth of Puerto Rico.7
  • 2. OFG USA, LLC – a limited liability company organized and existing under the laws of the State of Delaware.7
  • 3. OBPEF LLC – a limited liability company and a private equity fund organized and existing under the the laws of the Commonwealth of Puerto Rico.7
  • A) ORIENTAL BANK – an FDIC insured non-member commercial bank organized and existing under the laws of the Commonwealth of Puerto Rico.7
  • B) ORIENTAL FINANCIAL SERVICES LLC - a limited liability company and a registered securities broker dealer and investment adviser organized and existing under the laws of the Commonwealth of Puerto Rico.7
  • C) ORIENTAL INSURANCE LLC – a limited liability company and a registered insurance agency organized and existing under the laws of the Commonwealth of Puerto Rico.7
  • D) OFG REINSURANCE LTD – a limited liability company and a captive reinsurance company organized and existing under the laws of the Cayman Islands.7
  • E) OFG VENTURES LLC – a limited liability company organized and existing under the laws of the State of Delaware.7

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • ORIENTAL FINANCIAL GROUP INCJan 10, 1997 to May 6, 20135

Timeline

  1. Jul 21, 20268-K Results of operations71
  2. Apr 23, 20268-K Shareholder vote72
  3. Apr 21, 20268-K Results of operations73
  4. Jan 22, 20268-K Results of operations74
  5. Oct 22, 20258-K Results of operations75
  6. Jul 17, 20258-K Results of operations76
  7. May 7, 20258-K Shareholder vote77
  8. Apr 23, 20258-K Results of operations78
  9. Jan 22, 20258-K Results of operations79
  10. Oct 22, 20248-K Executive or director change80
  11. Oct 16, 20248-K Results of operations81
  12. Sep 23, 20248-K Executive or director change82
  13. Jul 2, 2007New chief executive Norberto Gonzalez becomes CEO18
  14. 1964Founded Founded in Humacao1

Calendar

Coming up

  1. Oct 21, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $1.16 a share, on Oct 22, 2025.83

When it reported results

  1. Jul 21, 2026Reported quarterly or annual results71
  2. Apr 21, 2026Reported quarterly or annual results73
  3. Jan 22, 2026Reported quarterly or annual results74
  4. Oct 22, 2025Reported quarterly or annual results75
  5. Jul 17, 2025Reported quarterly or annual results76
  6. Apr 23, 2025Reported quarterly or annual results78
  7. Jan 22, 2025Reported quarterly or annual results79
  8. Oct 16, 2024Reported quarterly or annual results81

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

351 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 31 major events, 252 insider forms, 20 large holders, 27 other. The latest 20:

  1. Sep 17, 20264 EDGAR
  2. Sep 11, 20264 EDGAR
  3. Aug 28, 20264 EDGAR
  4. Aug 28, 20264 EDGAR
  5. Aug 14, 20264 EDGAR
  6. Aug 14, 20264 EDGAR
  7. Aug 14, 2026144 EDGAR
  8. Aug 6, 2026144 EDGAR
  9. Aug 6, 202610-Q EDGAR
  10. Jul 28, 20264 EDGAR
  11. Jul 24, 2026144 EDGAR
  12. Jul 21, 20268-K EDGAR
  13. Jun 25, 202611-K EDGAR
  14. May 21, 20264 EDGAR
  15. May 13, 20264 EDGAR
  16. May 8, 202610-Q EDGAR
  17. May 6, 20264 EDGAR
  18. May 1, 20264 EDGAR
  19. Apr 28, 2026SCHEDULE 13G EDGAR
  20. Apr 28, 2026SCHEDULE 13G EDGAR

The 351 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

65 open-market trades by officers, directors and large owners since October 2021: 7 buys and 58 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 14, 2026Arizmendi MaritzaChief Financial OfficerSale10,000$53.35$533.5KForm 4
Aug 12, 2026De Jesus NestorDirectorSale4,000$53.00$212.0KForm 4
Jul 24, 2026FERNANDEZ JOSE RAFAELCEO; Chairman BODSale52,352$52.45$2.7MForm 4
Feb 20, 2026FRANQUI ANNETTEDirectorBuy1,540$42.07$64.8KForm 4
Dec 22, 2025De Jesus NestorDirectorSale2,000$42.31$84.6KForm 4
Dec 15, 2025Ortiz Cesar AChief Risk OfficerSale5,500$42.18$232.0KForm 4
Nov 12, 2025FERNANDEZ JOSE RAFAELCEO; Chairman BODSale25,232$40.95$1.0MForm 4
Nov 11, 2025FERNANDEZ JOSE RAFAELCEO; Chairman BODSale4,768$40.53$193.2KForm 4
Nov 10, 2025Colon JorgeDirectorSale25,000$40.85$1.0MForm 4
Jun 10, 2025Arizmendi MaritzaChief Financial OfficerSale5,000$42.30$211.5KForm 4
May 5, 2025Arizmendi MaritzaChief Financial OfficerSale5,000$41.44$207.2KForm 4
Dec 5, 2024FERNANDEZ JOSE RAFAELCEO; Chairman BODSale50,000$45.37$2.3MForm 4
Dec 4, 2024FERNANDEZ JOSE RAFAELCEO; Chairman BODSale50,000$45.24$2.3MForm 4
Nov 6, 2024Colon JorgeDirectorSale10,000$46.40$464.0KForm 4
Jul 30, 2024Colon JorgeDirectorSale11,176$45.56$509.2KForm 4
Jul 29, 2024Colon JorgeDirectorSale33,081$45.73$1.5MForm 4
May 8, 2024Kumar GaneshChief Strategy Officer, USSale6,695$37.93$253.9KForm 4
May 7, 2024Kumar GaneshChief Strategy Officer, USSale8,062$38.04$306.7KForm 4
May 6, 2024Kumar GaneshChief Strategy Officer, USSale20,074$38.00$762.8KForm 4
Mar 28, 2024Kumar GaneshChief Strategy Officer, USSale7,628$36.40$277.7KForm 4

All 65 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025José R. Fernández$981.8K$3.5M93
2025Maritza Arizmendi$478.2K$1.3M93
2025Mari Evelyn Rodríguez$380.4K$829.9K93
2025Ada García$350.6K$783.6K93
2025César Ortiz$350.6K$774.8K93
2024President & Chief Executive Officer$981.8K$6.3M93
2024Chief Financial Officer$462.0K$1.2M93
2024Chief Retail Banking Officer$367.5K$757.8K93
2024Chief Risk Officer$330.0K$731.9K93
2024Managing Director$330.0K$710.1K93
2023President & Chief Executive Officer$935.0K$3.5M93
2023Chief Financial Officer$432.9K$1.2M93
2023Chief Retail Banking Officer$234.2K$841.8K93
2023Chief Risk Officer$292.4K$637.9K93

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,160,369$302.3M0.0%−52,188
Vanguard Portfolio Management LLC3,120,096$153.1M0.0%+11,032
Dimensional Fund Advisors LP2,565,745$125.9M0.0%−39
State Street Corp2,490,188$123.0M0.0%+82,808
First Trust Advisors LP2,359,816$115.8M0.1%+37,892
Vanguard Capital Management LLC1,874,751$92.0M0.0%−33,402
American Century Companies Inc1,737,379$85.3M0.0%+136,880
Charles Schwab Investment Management Inc1,564,209$76.8M0.0%+143,921
Geode Capital Management, LLC1,166,977$57.3M0.0%+41,582
Nuveen, LLC945,112$46.4M0.0%−45,407
Goldman Sachs Group Inc639,019$31.4M0.0%+127,451
Two Sigma Investments, LP608,895$29.9M0.0%+96,937
Northern Trust Corp581,103$28.5M0.0%+20,542
Qube Research & Technologies Ltd561,046$27.5M0.0%+184,041
Barrow Hanley Mewhinney & Strauss LLC509,340$25.0M0.1%−712,362
Morgan Stanley492,389$24.2M0.0%−6,349
Millennium Management LLC435,219$21.4M0.0%−179,528
Jupiter Topco LLC429,854$21.1M0.0%New
Deutsche Bank Ag\420,858$20.7M0.0%+4,785
Bank of New York Mellon Corp380,818$18.7M0.0%+560
Jacobs Levy Equity Management, Inc375,589$18.4M0.1%−19,277
Algert Global LLC346,607$17.0M0.2%+29,715
Bridgeway Capital Management, LLC320,016$15.7M0.3%−7,211
Federated Hermes, Inc.291,193$14.3M0.0%+37,282
Aqr Capital Management LLC279,469$13.7M0.0%+71,487

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How OFG Bancorp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAROFG BANCORP2
  • CIK0001030469
  • Employer ID (EIN)66-053889317
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inPuerto Rico17
  • Fiscal year endsDecember 312
  • Industry code (SIC)6022 State Commercial Banks2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business address254 Mu?Oz Rivera Avenue, San Juan, PR 009182
  • Phone78777168002
  • Shares outstanding42,265,494 as of Jul 31, 202615
  • Public float$1.9B as of Jun 30, 202517
  • AuditorKPMG LLP, San Juan, Puerto Rico PCAOB ID 185; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceJan 10, 19972
  • Filings1,829 in all: 4 (950), 8-K (231), 4/A (100), 10-Q (88), SC 13G/A (81), 3 (45), SC 13G (36), DEF 14A (31)2
    All 50 form types

    10-K (28), 11-K (25), UPLOAD (23), 5 (21), CORRESP (17), DEFA14A (17), 144 (11), 3/A (11), S-8 (9), 8-K/A (8), 10-K/A (7), 10-Q/A (7), ARS (5), NT 10-K (5), NT 11-K (5), PRE 14A (5), S-3 (5), S-3/A (5), 424B4 (4), EFFECT (4), S-1/A (4), SCHEDULE 13G (4), 25-NSE (3), 8-A12B (3), CT ORDER (3), FWP (3), NT 10-Q (3), S-1 (3), 424B2 (2), CERTNYS (2), D (2), S-1MEF (2), SCHEDULE 13G/A (2), 10-K405 (1), 10-KT (1), 11-K/A (1), 424B1 (1), 424B3 (1), 8-B12B (1), DEFR14A (1), DRS (1), NTN 10Q (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Mar 3, 2026
    Latest 8-K (8-K) Jul 21, 2026

Securities registered for trading

ClassSymbolExchange
Common shares, par value $1.00 per shareOFGNew York Stock Exchange

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks OFG Bancorp names in Item 1A of its 10-K filed Feb 25, 2026: 28 risks under these headings, as written.17

  • ECONOMIC AND MARKET CONDITIONS RISK
  • Most of our business is conducted in Puerto Rico, where economic and government fiscal and liquidity challenges have adversely impacted and may continue to adversely impact us.
  • Puerto Rico and the USVI are susceptible to earthquakes, hurricanes and major storms, the severity of which could be heightened by the effect of climate change, which could further deteriorate their economy and infrastructure.
  • Puerto Rico depends on federal disaster relief funds and any prolonged delay in disbursements of such funds could adversely affect the local economy.
  • Potential adverse effects of political changes may disrupt the economic recovery process in Puerto Rico.
  • Adverse developments in federal trade policy and the phasing-out of federal emergency and stimulus funds may impact our business and stock price.
  • Changes in interest rates could adversely affect OFG’s results of operations and financial condition.
  • CREDIT RISK
  • Heightened credit risk could require us to increase our provision for credit losses, which could have a material adverse effect on our results of operations and financial condition.
  • We are subject to default and other risks in connection with mortgage loan originations.
  • A decline in the real estate market would likely result in an increase in delinquencies, defaults and foreclosures and in a reduction in loan origination activity, which would adversely affect our financial results.
  • GEOPOLITICAL RISK
The other 19 risks
  • Global armed conflicts may impact all aspects of our operations, revenues, costs and stock price.
  • OPERATIONS AND BUSINESS RISK
  • We may experience losses related to fraud and theft.
  • We are subject to security and operational risks related to our use of technology, including the risk of cyber-attack or cyber theft.
  • We rely on third parties to provide services and systems essential to the operation of our business, and any failure, interruption or termination of such services or systems could have a material adverse effect on our financial condition and results of operations.
  • Non-Compliance with the USA Patriot Act, Bank Secrecy Act, or other laws and regulations could result in fines and other sanctions.
  • If we are unable to maintain or grow our core deposits, we may be subject to paying higher funding costs and our net interest income may decrease.
  • Consumer protection laws may reduce our noninterest income.
  • Our risk management policies, procedures and systems may be inadequate to mitigate all risks inherent in our various businesses.
  • Adverse developments in the financial services industry could adversely affect our financial condition and results of operations.
  • LIQUIDITY RISK
  • Our business could be adversely affected if we cannot maintain access to stable funding sources.
  • Our ability to receive dividends from our subsidiaries could affect our liquidity and ability to pay dividends to our shareholders.
  • COMPETITIVE AND STRATEGIC RISK
  • Failure to keep pace with technological change, including developments in artificial intelligence, could adversely affect OFG’s results of operations and financial condition.
  • Competition with other financial institutions could adversely affect our profitability.
  • We operate in a highly regulated industry and may be adversely affected by changes in federal and local laws and regulations.
  • Reputational risk and social factors may impact our results.
  • Our adoption of artificial intelligence technologies exposes us to evolving legal, regulatory, and operational risks.
  • ACCOUNTING AND TAX RISK
  • Changes in accounting standards issued by the Financial Accounting Standards Board (“FASB”) or other standard-setting bodies may adversely affect our financial statements.
  • Our goodwill and other intangible assets could be determined to be impaired in the future and could decrease OFG’s earnings.
  • Legislative and other measures that may be taken by Puerto Rico governmental authorities could materially increase our tax burden or otherwise adversely affect our financial condition, results of operations or cash flows.

Legal proceedings

OFG and its subsidiaries are defendants in a number of legal proceedings incidental to their business. OFG is vigorously contesting such claims. Based upon a review by legal counsel and the development of these matters to date, management is of the opinion that the ultimate aggregate liability, if any, resulting from these claims will not have a material adverse effect on OFG’s financial condition or results of operations.

The opening of Item 3, Legal Proceedings.17

Sources

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