Jul. 18 at 11:35 AM
$OFG OFG Bancorp reports Q2 EPS
$1.08, consensus 96c
Reports Q2 revenue
$179.4M, consensus
$152.56M. Reports Q2 CET1 capital ratio 14.29%. Reports Q2 tangible book value per share
$24.18. Jose Rafael Fernandez, CEO, said: "The second quarter continued to demonstrate the strength of our strategies and franchise. EPS-diluted increased 16.1% year-over-year on a 5.2% increase in total core revenues. We generated strong performance metrics through consistent growth; increased loans, deposits, and non-interest income; and stable credit quality.
Our 'Digital First' strategy continues to help us expand our retail and business relationships through new and upgraded products, services, and self-service tools. In addition, we implemented close to half of our
$50 million share buyback program, purchasing
$24.3 million of OFG shares in the open market. At the same time, Puerto Rico's economy continued to grow and steadily decouple from mainland economic uncertainties. Thanks to our team members for their commitment to making progress possible for our customers, employees, shareholders, and the communities we serve."
