Ofg Bancorp  (OFG)
Other Ticker:  
    Sector  Financial    Industry Regional Banks
   Industry ../Industry/industry_growth_rates.php?cfw&ind=709"> Regional Banks
   Sector  Financial
Price: $25.7900 $0.24 0.939%
Day's High: $26.58 Week Perf: -4.45 %
Day's Low: $ 25.66 30 Day Perf: -11.53 %
Volume (M): 324 52 Wk High: $ 30.52
Volume (M$): $ 8,343 52 Wk Avg: $27.40
Open: $25.88 52 Wk Low: $24.39

 Market Capitalization (Millions $) 1,246
 Shares Outstanding (Millions) 48
 Employees 1,466
 Revenues (TTM) (Millions $) 590
 Net Income (TTM) (Millions $) 166
 Cash Flow (TTM) (Millions $) -1,473
 Capital Exp. (TTM) (Millions $) 31

Ofg Bancorp

The Company provides comprehensive banking and financial services to its clients through a complete range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust and retirement services. The Company operates through three major business segments: Banking, Wealth Management, and Treasury, differentiating the Oriental brand through customer segmentation and innovative solutions, primarily in Puerto Rico. The Company provides these services through various subsidiaries including, a commercial bank, Oriental Bank, a securities broker-dealer, Oriental Financial Services Corp. (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), previously known as Oriental Insurance Inc., and a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), previously known as Caribbean Pension Consultants, Inc. All of our subsidiaries are based in San Juan, Puerto Rico, except for OPC which is based in Boca Raton, Florida. The Company has 48 branches in Puerto Rico. The Company’s long-term goal is to strengthen its banking and financial services franchise by expanding its lending businesses, increasing the level of integration in the marketing and delivery of banking and financial services, maintaining effective asset-liability management, growing non-interest revenue from banking and financial services, and improving operating efficiencies.

The Company is a publicly-owned financial holding company incorporated on June 14, 1996 under the laws of the Commonwealth of Puerto Rico, providing a full range of banking and financial services through its subsidiaries. The Company is subject to the provisions of the U.S. Bank Holding Company Act of 1956, as amended, (the “BHC Act”) and accordingly, subject to the supervision and regulation of the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”).

The Company’s strategy involves:
Strengthening its banking and financial services franchise by expanding its ability to attract deposits and build relationships with customers by refining the service delivery and providing innovative banking technologies for day-to-day customer transactions, and achieving sustainable levels of differentiation in the market;
Focusing on greater growth in commercial, consumer and mortgage lending, trust and financial services and insurance products;
Improving operating efficiencies, and continuing to maintain effective asset-liability management;
Implementing a broad ranging effort to instill in employees and make customers aware of the Company’s determination to effectively serve and advise its customer base in a responsive and professional manner; and
Matching its portfolio of investment securities with the related funding to achieve favorable spreads, and primarily investing in U.S. government-sponsored agency obligations.

Together with a highly experienced group of senior and mid-level executives and the benefits from the acquisitions of Eurobank Puerto Rico and the Puerto Rico operations of Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA”), this strategy has resulted in sustained growth in the Company’s deposit-taking activities, commercial, consumer and mortgage lending and financial service activities, allowing the Company to distinguish itself in a highly competitive industry. The Company is not immune from general and local financial and economic conditions. Past experience is not necessarily indicative of future performance, but given market uncertainties and on a reasonable time horizon of three to five years, this strategy is expected to maintain its steady progress towards the Company’s long-term goal.

The Company’s principal funding sources are branch deposits, securities sold under agreements to repurchase, Federal Home Loan Bank (“FHLB”) advances, Federal Reserve Bank (“FRB”) advances, wholesale deposits, and subordinated capital notes. Through its branch network, Oriental Bank offers personal non-interest and interest-bearing checking accounts, savings accounts, certificates of deposit, individual retirement accounts (“IRAs”) and commercial non-interest bearing checking accounts. The FDIC insures Oriental Bank’s deposit accounts up to applicable limits. Management makes retail deposit pricing decisions periodically, adjusting the rates paid on retail deposits in response to general market conditions and local competition. Pricing decisions take into account the rates being offered by other local banks, the London Interbank Offered Rate (“LIBOR”), and mainland U.S. market interest rates.

The Company has three reportable segments: Banking, Wealth Management, and Treasury. Management established the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. Other factors such as the Company’s organizational structure, nature of products, distribution channels and economic characteristics of the products were also considered in the determination of the reportable segments. The Company measures the performance of these reportable segments based on pre-established annual goals involving different financial parameters such as net income, interest rate spread, loan production, and fees generated.

   Company Address: 254 Mu?oz Rivera Avenue San Juan 918
   Company Phone Number: 771-6800   Stock Exchange / Ticker: NYSE OFG
   OFG is expected to report next financial results on May 05, 2023.

Customers Net Income fell by OFG's Customers Net Profit Margin fell to

-38.52 %

9.95 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


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Ofg Bancorp's Segments
• View Complete Report


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