Exhibit 99

OFG Bancorp Reports 1Q25 Results

SAN JUAN, Puerto Rico, April 23, 2025 – OFG Bancorp (NYSE: OFG), the financial holding company for Oriental Bank, today reported results for the first quarter ended March 31, 2025. EPS diluted of $1.00 compared to $1.09 in 4Q24 and $1.05 in 1Q24. Total core revenues of $178.3 million compared to $181.9 million in 4Q24 and $174.2 million in 1Q24.

CEO Comment

José Rafael Fernández, Chief Executive Officer, said: “The first quarter reflected a strong start to the year with solid overall performance, consistent financial results, and excellent operating execution. Highlights included customer and deposit growth, and improved consumer credit. As part of our Digital First strategy, we are the first among Puerto Rico banks to launch an Omnichannel online and mobile app for a truly seamless experience, Smart Banking insights to help customers better manage their finances, and Apple Pay for fast and easy credit and debit transactions. While our strategic investment in technology is driving innovation, our investment in people is building strong customer relationships through our island-wide network.”

“During the quarter, we also repurchased $23.4 million of common shares and increased the common dividend 20%. The increase in return was supported by our earnings and elevated capital levels, with a CET1 ratio at 14.3%. At this time, Puerto Rico’s economy continues to be stable, benefiting from public and private investment, but we are closely monitoring increased global economic and geopolitical uncertainties. Our balance sheet provides us with a strong foundation during volatile or challenging times. Thanks to our team members for helping make this possible and bringing progress to our customers.”

1Q25 Highlights

Performance Metrics: Net interest margin of 5.42%, return on average assets of 1.56%, return on average tangible common stockholders’ equity of 15.28%, and efficiency ratio of 52.42%.

Total Interest Income of $189.2 million compared to $190.2 million in 4Q24 and $183.4 million in 1Q24. Compared to 4Q24, 1Q25 decreased $0.9 million, reflecting two fewer business days, which negatively affected interest income by approximately $3.0 million, partially offset by higher balances and yields on investment securities and higher loan balances.

Total Interest Expense of $40.2 million compared to $41.0 million in 4Q24 and $39.3 million in 1Q24. Compared to 4Q24, 1Q25 decreased $0.9 million, primarily reflecting two fewer business days. Higher average balances of core deposits at a lower rate were partially offset by higher average balances of borrowings and brokered deposits.

Total Banking & Financial Service Revenues of $29.2 million compared to $32.8 million in 4Q24 and $30.1 million in 1Q24. 4Q24 included $4.8 million combined in annual insurance fees and favorable MSR valuation. Excluding that, 1Q25 total banking and financial services revenues increased.

Pre-Provision Net Revenues of $85.1 million compared to $83.0 million in 4Q24 and $83.0 million in 1Q24.

Total Provision for Credit Losses of $25.7 million compared to $30.2 million in 4Q24 and $15.1 million in 1Q24. 1Q25 primarily reflected $17.4 million for increased loan volume, $4.8 million for a specific reserve for three commercial loans, and $3.5 million to reflect auto current loss given default trends post pandemic.

Credit Quality: Net charge-offs of $20.4 million (1.05% of average loans) compared to $15.9 million (0.82%) in 4Q24 and $19.8 million (1.05%) in 1Q24. 1Q25 included a $2.9 million partial charge-off of a previously reserved commercial loan, while 4Q24 included $2.6 million in recoveries from the sale of previously charged-off auto and consumer loans. 1Q25 early and total delinquency rates improved to 2.19% and 3.49%, respectively, reflecting seasonal trends. The nonperforming loan rate was 1.11%.

Total Non-Interest Expense of $93.5 million compared to $99.7 million in 4Q24 and $91.4 million in 1Q24. Compared to 4Q24, 1Q25 compensation reflected $1.6 million in seasonal FICA expenses and merit raises, while general and administrative declined $2.0 million, reflecting a $3.1 million volume incentive payment from a business partner, partially offset by $1.2 million for increased electronic banking fee volume and other related costs. 4Q24 included $4.8 million in early retirement, rightsizing and performance incentives.

Income Tax Expense of $13.9 million compared to $2.4 million in 4Q24 and $18.2 million in 1Q24. 1Q25 ETR was 23.34%, reflecting an anticipated rate of 26.14% for the year and the benefit of $1.7 million in discrete items.

Loans Held for Investment (EOP) of $7.85 billion compared to $7.79 billion in 4Q24 and $7.54 billion in 1Q24. Compared to 4Q24, 1Q25 loans increased 0.8%, reflecting growth in auto, U.S. commercial, Puerto Rico commercial, and consumer loans, partially offset by a decline in residential mortgage. Year-over-year, loans increased 4.15%.

New Loan Production of $558.9 million compared to $609.0 million in 4Q24 and $536.6 million in 1Q24. Compared to 4Q24, 1Q25 reflected seasonal declines in Puerto Rico lending, partially offset by increases in U.S. commercial lending.

Total Investments (EOP) of $2.79 billion compared to $2.72 billion in 4Q24 and $2.48 billion in 1Q24. Compared to 4Q24, 1Q25 reflected purchases of $100 million of mortgage-backed securities yielding 5.40%, partially offset by MBS repayments.

Customer Deposits (EOP) of $9.76 billion increased $308.4 million from $9.45 billion in 4Q24 and $211.5 million from $9.55 billion in 1Q24. Compared to 4Q24, 1Q25 reflected increases in demand, savings and time deposits, from commercial, government, and retail accounts.

Total Borrowings & Brokered Deposits (EOP) of $421.5 million compared to $557.2 million in 4Q24 and $203.3 million in 1Q24. 1Q25 reflected the maturity of $145 million in repurchase agreement funding and Federal Home Loan Bank advances. Separately, a two-year $200 million FHLB advance was renewed at 4.14% compared to the previous rate of 4.52%.

Cash & Cash Equivalents (EOP) of $710.6 million compared to $591.1 million in 4Q24 and $754.4 million in 1Q24.

Capital: CET1 ratio was 14.27% compared to 14.26% in 4Q24 and 14.45% in 1Q24. Tangible Common Equity ratio was 10.30% compared to 10.13% in 4Q24 and 10.06% in 1Q24. Tangible Book Value per share was $26.66 compared to $25.43 in 4Q24 and $23.55 in 1Q24.

Conference Call, Financial Supplement & Presentation

A conference call to discuss 1Q25 results, outlook and related matters will be held today at 10:00 AM ET. Phone (800) 267-6316 or (203) 518-9783. Conference ID: OFGQ125. 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 March 31, 2025, and the 1Q25 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.

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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 March 31, 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	3
Table 3:	Consolidated Statements of Financial Condition	4
Table 4:	Information on Loan Portfolio and Production	5
Table 5:	Average Balances, Net Interest Income and Net Interest Margin	7
Table 6:	Loan Information and Performance Statistics	8
Table 7:	Allowance for Credit Losses	11
Table 8:	Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital	12
Table 9:	Notes to Financial Summary, Selected Metrics, Loans, and Consolidated Financial Statements (Tables 1-8)	14

OFG Bancorp (NYSE: OFG)

Table 1-1: Financial and Statistical Summary - Consolidated


		2025			2024			2024			2024			2024
(Dollars in thousands, except per share data) (unaudited)		Q1			Q4			Q3			Q2			Q1
Statement of Operations
Net interest income		$	149,071		$	149,138		$	147,875		$	147,325		$	144,102
Non-interest income, net (core)	(1)	29,212			32,766			26,271			32,085			30,059
Total core revenues	(2)	178,283			181,904			174,146			179,410			174,161
Non-interest expense		93,452			99,718			91,600			92,960			91,412
Pre-provision net revenues	(21)	85,136			82,977			83,143			86,841			83,038
Total provision for credit losses		25,688			30,190			21,359			15,581			15,121
Net income before income taxes		59,448			52,787			61,784			71,260			67,917
Income tax expense		13,876			2,440			14,784			20,129			18,225
Net income available to common stockholders		45,572			50,347			47,000			51,131			49,692
Common Share Statistics
Earnings per common share - basic	(3)	$	1.01		$	1.10		$	1.01		$	1.09		$	1.06
Earnings per common share - diluted	(4)	$	1.00		$	1.09		$	1.00		$	1.08		$	1.05
Average common shares outstanding		45,295			45,946			46,560			46,952			47,096
Average common shares outstanding and equivalents		45,509			46,248			46,846			47,131			47,343
Cash dividends per common share		$	0.30		$	0.25		$	0.25		$	0.25		$	0.25
Book value per common share (period end)		$	28.83		$	27.60		$	28.31		$	26.37		$	25.75
Tangible book value per common share (period end)	(5)	$	26.66		$	25.43		$	26.15		$	24.18		$	23.55
Balance Sheet (Average Balances)
Loans	(6)	$	7,784,757		$	7,717,566		$	7,634,511		$	7,613,307		$	7,541,757
Interest-earning assets		11,152,184			10,981,886			10,837,380			10,758,623			10,739,590
Total assets		11,657,544			11,523,140			11,347,795			11,233,202			11,199,867
Core deposits		9,623,779			9,555,213			9,588,752			9,599,842			9,532,790
Total deposits		9,782,001			9,651,748			9,609,820			9,601,408			9,591,527
Interest-bearing deposits		7,240,258			7,107,550			7,042,467			7,023,192			7,055,207
Borrowings		358,666			329,231			241,062			219,903			220,773
Stockholders' equity		1,290,888			1,304,779			1,280,760			1,223,669			1,213,469

Performance Metrics
Net interest margin	(7)	5.42		%	5.40		%	5.43		%	5.51		%	5.40		%
Return on average assets	(8)	1.56		%	1.75		%	1.66		%	1.82		%	1.77		%
Return on average tangible common stockholders' equity	(9)	15.28		%	16.71		%	15.94		%	18.24		%	17.92		%
Efficiency ratio	(10)	52.42		%	54.82		%	52.60		%	51.81		%	52.49		%
Full-time equivalent employees, period end		2,223			2,246			2,236			2,239			2,230
Credit Quality Metrics
Allowance for credit losses		$	181,174		$	175,863		$	161,500		$	157,301		$	156,563
Allowance as a % of loans held for investment		2.31		%	2.26		%	2.08		%	2.06		%	2.08		%
Net charge-offs		$	20,370		$	15,862		$	17,103		$	15,013		$	19,812
Net charge-off rate	(11)	1.05		%	0.82		%	0.90		%	0.79		%	1.05		%
Early delinquency rate (30 - 89 days past due)		2.19		%	2.95		%	2.78		%	2.81		%	2.41		%
Total delinquency rate (30 days and over)		3.49		%	4.38		%	4.10		%	3.71		%	3.30		%
Capital Ratios (period end) (Non-GAAP)	(12)(20)
Leverage ratio		10.83		%	10.93		%	11.12		%	10.86		%	10.76		%
Common equity Tier 1 capital ratio		14.27		%	14.26		%	14.37		%	14.29		%	14.45		%
Tier 1 risk-based capital ratio		14.27		%	14.26		%	14.37		%	14.29		%	14.45		%
Total risk-based capital ratio		15.53		%	15.52		%	15.63		%	15.54		%	15.71		%
Tangible common equity ("TCE") ratio		10.30		%	10.13		%	10.72		%	10.09		%	10.06		%

OFG Bancorp (NYSE: OFG)

Table 2-1: Consolidated Statements of Operations


	Quarter Ended
(Dollars in thousands, except per share data) (unaudited)	March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Interest income:
Loans
Non-PCD loans	$	137,690	$	139,659	$	139,358	$	137,741	$	132,972
PCD loans	15,718		15,682		15,052		16,516		16,622
Total interest income from loans	153,408		155,341		154,410		154,257		149,594
Investment securities and cash	35,814		34,822		34,620		33,401		33,832
Total interest income	189,222		190,163		189,030		187,658		183,426
Interest expense:
Deposits
Core deposits	34,645		36,312		38,123		37,791		35,989
Brokered deposits	1,647		1,020		221		21		803
Total deposits	36,292		37,332		38,344		37,812		36,792
Borrowings	3,859		3,693		2,811		2,521		2,532
Total interest expense	40,151		41,025		41,155		40,333		39,324
Net interest income	149,071		149,138		147,875		147,325		144,102
Provision for credit losses, excluding PCD loans	24,810		32,838		21,070		16,913		16,605
Provision for (recapture of) credit losses on PCD loans	878		(2,648)		289		(1,332)		(1,484)
Total provision for credit losses	25,688		30,190		21,359		15,581		15,121
Net interest income after provision for credit losses	123,383		118,948		126,516		131,744		128,981
Non-interest income:
Banking service revenues	15,981		15,329		15,554		18,781		17,259
Wealth management revenues	8,455		10,626		8,449		8,440		8,107
Mortgage banking activities	4,776		6,811		2,268		4,864		4,693
Total banking and financial service revenues	29,212		32,766		26,271		32,085		30,059

Other income, net	305		791		597		391		289
Total non-interest income, net	29,517		33,557		26,868		32,476		30,348
Non-interest expense:
Compensation and employee benefits	39,932		42,959		38,468		38,467		39,816
Occupancy, equipment and infrastructure costs	14,820		15,284		15,124		14,393		14,322
General and administrative expenses	37,672		39,672		36,736		40,831		36,606
Foreclosed real estate and other repossessed assets expenses (income), net	1,028		1,803		1,272		(731)		668


Total non-interest expense	93,452		99,718		91,600		92,960		91,412
Income before income taxes	59,448		52,787		61,784		71,260		67,917
Income tax expense	13,876		2,440		14,784		20,129		18,225


Net income available to common shareholders	$	45,572	$	50,347	$	47,000	$	51,131	$	49,692

OFG Bancorp (NYSE: OFG)

Table 3: Consolidated Statements of Financial Condition


(Dollars in thousands) (unaudited)		March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Cash and cash equivalents		$	710,600	$	591,137	$	680,587	$	740,429	$	754,392
Investments:
Trading securities		19		18		18		16		14
Investment securities available-for-sale, at fair value, no allowance for credit losses for any period
Mortgage-backed securities		2,413,420		2,336,505		2,228,399		1,895,067		1,746,195
US treasury securities		1,384		1,150		1,136		200,658		150,915
Other investment securities		533		550		567		581		597
Total investment securities available-for-sale		2,415,337		2,338,205		2,230,102		2,096,306		1,897,707

Investment securities held-to-maturity, at amortized cost, no allowance for credit losses for any period
Mortgage-backed securities		286,824		292,158		297,713		303,621		309,764
US treasury securities		—		—		—		—		199,727
Other investment securities		35,000		35,000		35,000		35,000		35,000
Total investment securities held-to-maturity		321,824		327,158		332,713		338,621		544,491
Equity securities		48,785		54,896		45,692		41,074		40,162
Total investments		2,785,965		2,720,277		2,608,525		2,476,017		2,482,374
Loans, net		7,688,271		7,633,831		7,604,700		7,503,142		7,411,378
Other assets:

Prepaid expenses		68,216		72,010		98,755		88,137		61,916
Deferred tax asset, net		6,299		6,248		4,130		4,094		4,379
Foreclosed real estate and repossessed properties		10,927		10,597		11,388		12,239		17,694
Premises and equipment, net		103,577		104,512		105,279		104,384		104,980
Goodwill		84,241		84,241		84,241		84,241		84,241
Other intangibles		13,550		14,782		16,260		17,738		19,216
Right of use assets		18,663		19,197		20,355		20,298		21,606
Servicing asset		69,238		70,435		68,512		49,789		49,553
Accounts receivable and other assets		169,710		173,467		158,650		158,577		147,506
Total assets		$	11,729,257	$	11,500,734	$	11,461,382	$	11,259,085	$	11,159,235

Deposits:
Demand deposits		$	5,841,418	$	5,627,406	$	5,859,787	$	6,017,364	$	6,036,891
Savings accounts		2,107,622		2,064,916		2,019,832		2,002,342		2,001,770
Time deposits		1,808,117		1,756,389		1,653,402		1,585,126		1,507,037
Brokered deposits		165,812		156,075		75,631		418		2,576
Total deposits		9,922,969		9,604,786		9,608,652		9,605,250		9,548,274
Borrowings:
Securities sold under agreements to repurchase		—		75,222		—		—		—
Advances from FHLB and other borrowings		255,642		325,952		270,827		200,741		200,766

Total borrowings		255,642		401,174		270,827		200,741		200,766
Other liabilities:


Acceptances outstanding		35,269		31,526		26,055		28,504		25,826
Lease liability		20,795		21,388		22,604		22,605		23,969
GNMA buy-back option program liability	(22)	44,665		48,586		41,801		19,008		18,510
Deferred tax liability, net		44,223		40,718		57,503		33,873		22,876
Accrued expenses and other liabilities		110,333		98,185		115,808		121,402		103,361
Total liabilities		10,433,896		10,246,363		10,143,250		10,031,383		9,943,582
Stockholders' equity:

Common stock		59,885		59,885		59,885		59,885		59,885
Additional paid-in capital		638,475		639,786		639,487		637,895		636,208
Legal surplus		173,905		169,537		164,990		160,560		155,732
Retained earnings		802,024		771,993		737,815		706,807		672,455
Treasury stock, at cost		(320,927)		(296,991)		(251,055)		(250,951)		(226,896)
Accumulated other comprehensive loss, net		(58,001)		(89,839)		(32,990)		(86,494)		(81,731)
Total stockholders' equity		1,295,361		1,254,371		1,318,132		1,227,702		1,215,653
Total liabilities and stockholders' equity		$	11,729,257	$	11,500,734	$	11,461,382	$	11,259,085	$	11,159,235

OFG Bancorp (NYSE: OFG)

Table 4-1: Information on Loan Portfolio and Production


(Dollars in thousands) (unaudited)		March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Non-PCD:
Mortgage, excluding GNMA buy-back option program		$	571,637	$	580,267	$	577,320	$	581,023	$	591,429
Mortgage GNMA buy-back option program	(22)	44,665		48,586		41,801		19,008		18,510

Commercial PR		2,337,872		2,310,281		2,318,964		2,291,753		2,178,748
Commercial US		727,409		704,081		680,388		662,026		740,665
Consumer		670,213		667,963		663,748		643,572		627,436
Auto		2,592,922		2,549,033		2,483,611		2,427,089		2,339,836
		6,944,718		6,860,211		6,765,832		6,624,471		6,496,624
Less: Allowance for credit losses		(174,752)		(170,709)		(155,133)		(150,849)		(148,767)
Total non-PCD loans held for investment, net		6,769,966		6,689,502		6,610,699		6,473,622		6,347,857

PCD:
Mortgage		819,271		841,964		864,491		885,096		909,106
Commercial PR		87,779		88,729		119,029		128,584		132,035
Consumer		595		598		560		605		544
Auto		281		460		664		951		1,358
		907,926		931,751		984,744		1,015,236		1,043,043
Less: Allowance for credit losses		(6,422)		(5,154)		(6,367)		(6,452)		(7,796)
Total PCD loans held for investment, net		901,504		926,597		978,377		1,008,784		1,035,247
Total loans held for investment		7,671,470		7,616,099		7,589,076		7,482,406		7,383,104
Mortgage loans held for sale		12,439		13,286		10,908		8,375		9,370
Other loans held for sale		4,362		4,446		4,716		12,361		18,904
Total loans, net		$	7,688,271	$	7,633,831	$	7,604,700	$	7,503,142	$	7,411,378

Loan Portfolio Summary:
Loans held for investment:
Mortgage, excluding GNMA buy-back option program		$	1,390,908	$	1,422,231	$	1,441,811	$	1,466,119	$	1,500,535
Mortgage GNMA buy-back option program	(22)	44,665		48,586		41,801		19,008		18,510

Commercial PR		2,425,651		2,399,010		2,437,993		2,420,337		2,310,783
Commercial US		727,409		704,081		680,388		662,026		740,665
Consumer		670,808		668,561		664,308		644,177		627,980
Auto		2,593,203		2,549,493		2,484,275		2,428,040		2,341,194
		7,852,644		7,791,962		7,750,576		7,639,707		7,539,667
Less: Allowance for credit losses		(181,174)		(175,863)		(161,500)		(157,301)		(156,563)
Total loans held for investment, net		7,671,470		7,616,099		7,589,076		7,482,406		7,383,104
Mortgage loans held for sale		12,439		13,286		10,908		8,375		9,370
Other loans held for sale		4,362		4,446		4,716		12,361		18,904
Total loans, net		$	7,688,271	$	7,633,831	$	7,604,700	$	7,503,142	$	7,411,378

OFG Bancorp (NYSE: OFG)

Table 4-2: Information on Loan Portfolio and Production


		Quarter Ended
(Dollars in thousands) (unaudited)		March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Loan production	(13)
Mortgage		$	37,014	$	42,562	$	37,091	$	38,501	$	32,180
Commercial PR		163,232		211,217		149,856		192,122		186,412
Commercial US		57,939		44,034		67,133		27,402		17,106
Consumer		67,859		68,941		86,575		80,348		68,591
Auto		232,897		242,225		231,573		250,638		232,314
Total		$	558,941	$	608,979	$	572,228	$	589,011	$	536,603

OFG Bancorp (NYSE: OFG)

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


	2025 Q1						2024 Q4						2024 Q3						2024 Q2						2024 Q1
(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	$	593,325	$	6,316	4.32	%	$	560,013	$	6,534	4.64	%	$	630,836	$	8,362	5.27	%	$	656,728	$	8,735	5.35	%	$	600,291	$	7,996	5.36	%
Investment securities	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	%	2,597,542		25,836		3.98	%
Loans held for investment
Non-PCD loans	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	%	6,476,048		132,972		8.26	%
PCD loans	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	%	1,065,709		16,622		6.24	%
Total loans	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	%	7,541,757		149,594		7.98	%
Total interest-earning assets	$	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	%	$	10,739,590	$	183,426	6.87	%

Interest bearing liabilities:
Deposits
NOW accounts	$	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	%	$	3,472,852	$	20,516	2.38	%
Savings accounts	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	%	2,042,865		4,417		0.87	%
Time deposits	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	%	1,480,753		9,924		2.70	%
Brokered deposits	158,222		1,647		4.22	%	96,535		1,020		4.21	%	21,068		221		4.17	%	1,566		21		5.28	%	58,737		803		5.50	%
	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	%	7,055,207		35,660		2.03	%
Non-interest bearing deposit accounts	2,541,743		—		—		2,544,198		—		—		2,567,353		—		—		2,578,216		—		—		2,536,320		—		—
Fair value premium and core deposit intangible amortization	—		943		—		—		1,132		—		—		1,131		—		—		1,131		—		—		1,132		—
Total deposits	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	%	9,591,527		36,792		1.54	%
Borrowings
Securities sold under agreements to repurchase	63,531		710		4.53	%	44,837		542		4.81	%	—		—		—	%	—		—		—	%	—		—		—	%
Advances from FHLB and other borrowings	295,135		3,149		4.33	%	284,394		3,151		4.41	%	241,062		2,811		4.64	%	219,903		2,521		4.61	%	220,773		2,532		4.61	%

Total borrowings	358,666		3,859		4.36	%	329,231		3,693		4.46	%	241,062		2,811		4.64	%	219,903		2,521		4.61	%	220,773		2,532		4.61	%
Total liabilities	$	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	%	$	9,812,300	$	39,324	1.61	%
Interest rate spread			$	149,071	5.27	%			$	149,138	5.25	%			$	147,875	5.28	%			$	147,325	5.36	%			$	144,102	5.26	%
Net interest margin					5.42	%					5.40	%					5.43	%					5.51	%					5.40	%

Core deposits: (Non-GAAP)

NOW accounts	$	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	%	$	3,472,852	$	20,516	2.38	%
Savings accounts	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	%	2,042,865		4,417		0.87	%
Time deposits	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	%	1,480,753		9,924		2.70	%
	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	%	6,996,470		34,857		2.00	%
Non-interest bearing deposit accounts	2,541,743		—		—		2,544,198		—		—		2,567,353		—		—		2,578,216		—		—		2,536,320		—		—
Total core deposits	$	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	%	$	9,532,790	$	34,857	1.47	%
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings	$	358,666	$	3,859	4.36	%	$	329,231	$	3,693	4.46	%	$	241,062	$	2,811	4.64	%	$	219,903	$	2,521	4.61	%	$	220,773	$	2,532	4.61	%
Brokered deposits	158,222		1,647		4.22	%	96,535		1,020		4.21	%	21,068		221		4.17	%	1,566		21		5.28	%	58,737		803		5.50	%
Total borrowings and brokered deposits	$	516,888	$	5,506	4.32	%	$	425,766	$	4,713	4.40	%	$	262,130	$	3,032	4.60	%	$	221,469	$	2,542	4.62	%	$	279,510	$	3,335	4.80	%

OFG Bancorp (NYSE: OFG)

Table 6-1: Loan Information and Performance Statistics


	2025			2024			2024			2024			2024
(Dollars in thousands) (unaudited)	Q1			Q4			Q3			Q2			Q1
Net Charge-offs
Non-PCD
Mortgage:
Charge-offs	$	23		$	24		$	37		$	1		$	64
Recoveries	(186)			(190)			(72)			(540)			(267)
Total mortgage	(163)			(166)			(35)			(539)			(203)
Commercial PR:
Charge-offs	112			713			139			160			3,567
Recoveries	(152)			(381)			(1,455)			(111)			(52)
Total commercial PR	(40)			332			(1,316)			49			3,515
Commercial US:
Charge-offs	2,918			315			—			1,574			1,749
Recoveries	—			—			(24)			(45)			—
Total commercial US	2,918			315			(24)			1,529			1,749
Consumer:
Charge-offs	8,252			8,242			8,863			8,180			7,981
Recoveries	(725)			(1,792)			(830)			(851)			(693)
Total consumer	7,527			6,450			8,033			7,329			7,288
Auto:
Charge-offs	18,192			18,503			16,371			12,559			14,218
Recoveries	(7,674)			(8,137)			(6,300)			(5,926)			(5,971)
Total auto	10,518			10,366			10,071			6,633			8,247
Total	$	20,760		$	17,297		$	16,729		$	15,001		$	20,596

PCD
Mortgage:
Charge-offs	$	—		$	—		$	66		$	29		$	83
Recoveries	(341)			(345)			(250)			(93)			(638)
Total mortgage	(341)			(345)			(184)			(64)			(555)
Commercial PR:
Charge-offs	—			39			663			265			—
Recoveries	(25)			(1,026)			(70)			(158)			(157)
Total commercial PR	(25)			(987)			593			107			(157)
Consumer:
Charge-offs	—			—			—			—			—
Recoveries	(6)			(13)			(19)			(7)			(23)
Total consumer	(6)			(13)			(19)			(7)			(23)
Auto:
Charge-offs	1			1			9			6			9
Recoveries	(19)			(91)			(25)			(30)			(58)
Total auto	(18)			(90)			(16)			(24)			(49)
Total	$	(390)		$	(1,435)		$	374		$	12		$	(784)

Total Net Charge-offs	$	20,370		$	15,862		$	17,103		$	15,013		$	19,812
Net Charge-off Rates
Mortgage	(0.14)		%	(0.14)		%	(0.06)		%	(0.16)		%	(0.20)		%
Commercial PR	(0.01)		%	(0.11)		%	(0.12)		%	0.03		%	0.58		%
Commercial US	1.62		%	0.18		%	(0.01)		%	0.85		%	0.92		%
Consumer	4.34		%	3.72		%	4.70		%	4.42		%	4.45		%
Auto	1.63		%	1.63		%	1.64		%	1.11		%	1.42		%
Total	1.05		%	0.82		%	0.90		%	0.79		%	1.05		%
Average Loans Held For Investment
Mortgage	$	1,404,961		$	1,429,022		$	1,446,855		$	1,479,583		$	1,511,281
Commercial PR	2,392,006			2,386,204			2,393,891			2,363,831			2,312,561
Commercial US	719,838			689,310			658,908			716,989			756,409
Consumer	693,563			692,119			681,391			663,315			652,843
Auto	2,574,389			2,520,911			2,453,466			2,389,589			2,308,663
Total	$	7,784,757		$	7,717,566		$	7,634,511		$	7,613,307		$	7,541,757

(a) Refer to “(c)” in Table 1-1.

OFG Bancorp (NYSE: OFG)

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


		2025			2024			2024			2024			2024
(Dollars in thousands) (unaudited)		Q1			Q4			Q3			Q2			Q1
Early Delinquency (30 - 89 days past due)
Mortgage		$	9,830		$	11,431		$	10,822		$	12,767		$	13,080
Commercial		1,412			6,825			2,426			7,781			6,128

Consumer		12,129			14,281			13,485			13,102			10,901
Auto		128,619			170,013			161,025			152,817			126,704
Total		$	151,990		$	202,550		$	187,758		$	186,467		$	156,813
Early Delinquency Rates (30 - 89 days past due)
Mortgage		1.59		%	1.82		%	1.75		%	2.13		%	2.14		%
Commercial		0.05		%	0.23		%	0.08		%	0.26		%	0.21		%

Consumer		1.81		%	2.14		%	2.03		%	2.04		%	1.74		%
Auto		4.96		%	6.67		%	6.48		%	6.30		%	5.42		%
Total		2.19		%	2.95		%	2.78		%	2.81		%	2.41		%
Total Delinquency (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation		$	21,457		$	22,840		$	22,954		$	23,443		$	25,985
GNMA's buy-back option program	(22)	44,665			48,586			41,801			19,008			18,509
Total mortgage		66,122			71,426			64,755			42,451			44,494
Commercial		17,692			20,193			17,460			17,703			14,171

Consumer		15,611			18,471			17,094			16,405			14,760
Auto		142,662			190,068			178,003			169,506			141,220
Total		$	242,087		$	300,158		$	277,312		$	246,065		$	214,645
Total Delinquency Rates (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation		3.48		%	3.63		%	3.71		%	3.91		%	4.26		%
GNMA's buy-back option program	(22)	7.25		%	7.73		%	6.75		%	3.17		%	3.03		%
Total mortgage		10.73		%	11.36		%	10.46		%	7.07		%	7.29		%
Commercial		0.58		%	0.67		%	0.58		%	0.60		%	0.49		%

Consumer		2.33		%	2.77		%	2.58		%	2.55		%	2.35		%
Auto		5.50		%	7.46		%	7.17		%	6.98		%	6.04		%
Total		3.49		%	4.38		%	4.10		%	3.71		%	3.30		%
Nonperforming Assets	(14)
Mortgage		$	16,909		$	16,928		$	18,723		$	17,325		$	19,044
Commercial		44,150			38,913			36,099			34,477			33,794

Consumer		3,482			4,207			3,627			3,329			3,893
Auto		14,043			20,055			16,978			16,689			14,516
Total nonperforming loans		78,584			80,103			75,427			71,820			71,247
Foreclosed real estate		4,271			4,002			4,419			6,526			10,850
Other repossessed assets		6,656			6,595			6,969			5,713			6,844
Total nonperforming assets		$	89,511		$	90,700		$	86,815		$	84,059		$	88,941
Nonperforming Loan Rates
Mortgage		2.74		%	2.69		%	3.02		%	2.89		%	3.12		%
Commercial		1.44		%	1.29		%	1.20		%	1.17		%	1.16		%

Consumer		0.52		%	0.63		%	0.55		%	0.52		%	0.62		%
Auto		0.54		%	0.79		%	0.68		%	0.69		%	0.62		%
Total loans		1.13		%	1.17		%	1.11		%	1.08		%	1.10		%

OFG Bancorp (NYSE: OFG)

Table 6-3: Loan Information and Performance Statistics


		2025			2025			2024			2024			2024
(Dollars in thousands) (unaudited)		Q1			Q4			Q3			Q2			Q1
Nonperforming PCD Loans	(14)
Mortgage		$	234		$	239		$	241		$	244		$	247
Commercial		8,666			2,641			3,920			4,748			5,969

Total nonperforming loans		$	8,900		$	2,880		$	4,161		$	4,992		$	6,216
Nonperforming PCD Loan Rates
Mortgage		0.03		%	0.03		%	0.03		%	0.03		%	0.03		%
Commercial		9.87		%	2.98		%	3.29		%	3.69		%	4.52		%

Total		0.98		%	0.31		%	0.42		%	0.49		%	0.60		%
Total PCD Loans Held for Investment
Mortgage		$	819,271		$	841,964		$	864,491		$	885,096		$	909,106
Commercial		87,779			88,729			119,029			128,584			132,035
Consumer		595			598			560			605			544
Auto		281			460			664			951			1,358
Total loans		$	907,926		$	931,751		$	984,744		$	1,015,236		$	1,043,043


		2025			2024			2024			2024			2024
(Dollars in thousands) (unaudited)		Q1			Q4			Q3			Q2			Q1
Total Nonperforming Loans	(14)
Mortgage		$	17,143		$	17,167		$	18,964		$	17,569		$	19,291
Commercial		52,816			41,554			40,019			39,225			39,763

Consumer		3,482			4,207			3,627			3,329			3,893
Auto		14,043			20,055			16,978			16,689			14,516
Total nonperforming loans		$	87,484		$	82,983		$	79,588		$	76,812		$	77,463
Total Nonperforming Loan Rates
Mortgage		1.19		%	1.17		%	1.28		%	1.18		%	1.27		%
Commercial		1.68		%	1.34		%	1.28		%	1.27		%	1.30		%

Consumer		0.52		%	0.63		%	0.55		%	0.52		%	0.62		%
Auto		0.54		%	0.79		%	0.68		%	0.69		%	0.62		%
Total		1.11		%	1.06		%	1.03		%	1.01		%	1.03		%
Total Loans Held for Investment
Mortgage		$	1,435,573		$	1,470,817		$	1,483,612		$	1,485,127		$	1,519,045
Commercial		3,153,060			3,103,091			3,118,381			3,082,363			3,051,448

Consumer		670,808			668,561			664,308			644,177			627,980
Auto		2,593,203			2,549,493			2,484,275			2,428,040			2,341,194
Total loans		$	7,852,644		$	7,791,962		$	7,750,576		$	7,639,707		$	7,539,667

(a) Refer to “(a)” in Table 1-1.

OFG Bancorp (NYSE: OFG)

Table 7: Allowance for Credit Losses


	Quarter Ended March 31, 2025
(Dollars in thousands) (unaudited)	Mortgage			Commercial			Consumer			Auto			Total
Allowance for credit losses Non-PCD:
Balance at beginning of period	$	6,395		$	44,814		$	31,818		$	87,682		$	170,709
Provision for (recapture of) credit losses	(636)			3,516			7,945			13,978			24,803
Charge-offs	(23)			(3,030)			(8,252)			(18,192)			(29,497)
Recoveries	186			152			725			7,674			8,737
Balance at end of period	$	5,922		$	45,452		$	32,236		$	91,142		$	174,752

Allowance for credit losses PCD:
Balance at beginning of period	$	4,514		$	622		$	11		$	7		$	5,154
Provision for (recapture of) credit losses	(787)			1,691			(6)			(20)			878
Charge-offs	—			—			—			(1)			(1)
Recoveries	341			25			6			19			391
Balance at end of period	$	4,068		$	2,338		$	11		$	5		$	6,422

Allowance for credit losses summary:
Balance at beginning of period	$	10,909		$	45,436		$	31,829		$	87,689		$	175,863
Provision for (recapture of) credit losses	(1,423)			5,207			7,939			13,958			25,681
Charge-offs	(23)			(3,030)			(8,252)			(18,193)			(29,498)
Recoveries	527			177			731			7,693			9,128
Balance at end of period	$	9,990		$	47,790		$	32,247		$	91,147		$	181,174
Allowance coverage ratio	0.70		%	1.52		%	4.81		%	3.51		%	2.31		%

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			2024			2024			2024			2024
(Dollars in thousands) (unaudited)	Q1			Q4			Q3			Q2			Q1
Stockholders' Equity to Non-GAAP Tangible Common Equity
Total stockholders' equity	$	1,295,361		$	1,254,371		$	1,318,132		$	1,227,702		$	1,215,653
Less: Intangible assets	(97,791)			(99,023)			(100,501)			(101,979)			(103,457)


Tangible common equity (Non-GAAP)	$	1,197,570		$	1,155,348		$	1,217,631		$	1,125,723		$	1,112,196

Common shares outstanding at end of period	44,924			45,440			46,559			46,562			47,217
Tangible book value per common share (Non-GAAP)	$	26.66		$	25.43		$	26.15		$	24.18		$	23.55
Total Assets to Non-GAAP Tangible Assets
Total assets	$	11,729,257		$	11,500,734		$	11,461,382		$	11,259,085		$	11,159,235
Less: Intangible assets	(97,791)			(99,023)			(100,501)			(101,979)			(103,457)
Tangible assets (Non-GAAP)	$	11,631,466		$	11,401,711		$	11,360,881		$	11,157,106		$	11,055,778
Non-GAAP TCE Ratio
Tangible common equity	$	1,197,570		$	1,155,348		$	1,217,631		$	1,125,723		$	1,112,196
Tangible assets	11,631,466			11,401,711			11,360,881			11,157,106			11,055,778
TCE ratio	10.30		%	10.13		%	10.72		%	10.09		%	10.06		%
Average Equity to Non-GAAP Average Tangible Common Equity
Average total stockholders' equity	$	1,290,888		$	1,304,779		$	1,280,760		$	1,223,669		$	1,213,469



Less: Average intangible assets	(98,229)			(99,558)			(101,042)			(102,499)			(103,988)
Average tangible common equity (Non-GAAP)	$	1,192,659		$	1,205,221		$	1,179,718		$	1,121,170		$	1,109,481

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			2024			2024			2024			2024
(Dollars in thousands) (unaudited)		Q1			Q4			Q3			Q2			Q1
Regulatory Capital Metrics
Common equity Tier 1 capital		$	1,261,662		$	1,256,906		$	1,260,944		$	1,223,031		$	1,205,231
Tier 1 capital		1,261,662			1,256,906			1,260,944			1,223,031			1,205,231
Total risk-based capital	(15)	1,373,004			1,367,692			1,371,041			1,330,474			1,309,893
Risk-weighted assets		8,843,043			8,812,422			8,772,207			8,561,549			8,338,168
Regulatory Capital Ratios
Common equity Tier 1 capital ratio	(16)	14.27		%	14.26		%	14.37		%	14.29		%	14.45		%
Tier 1 risk-based capital ratio	(17)	14.27		%	14.26		%	14.37		%	14.29		%	14.45		%
Total risk-based capital ratio	(18)	15.53		%	15.52		%	15.63		%	15.54		%	15.71		%
Leverage ratio	(19)	10.83		%	10.93		%	11.12		%	10.86		%	10.76		%

Common Equity Tier 1 Capital Ratio Under Basel III Standardized Approach
Total stockholders' equity		$	1,295,361		$	1,254,371		$	1,318,132		$	1,227,702		$	1,215,653
Plus: CECL transition adjustment	(20)	—			6,852			6,852			6,852			6,852


Plus: Unrealized losses on available-for-sale securities, net of income tax		58,001			89,839			32,990			86,494			81,731

Total adjusted stockholders’equity		1,353,362			1,351,062			1,357,974			1,321,048			1,304,236
Less: Disallowed goodwill, net		(80,742)			(82,355)			(84,241)			(84,241)			(84,241)
Disallowed other intangible assets, net		(10,958)			(11,801)			(12,789)			(13,776)			(14,764)

Common equity Tier 1 capital and Tier 1 capital		1,261,662			1,256,906			1,260,944			1,223,031			1,205,231




Plus Tier 2 capital: Qualifying allowance for credit losses		111,342			110,786			110,097			107,443			104,662
Total risk-based capital		$	1,373,004		$	1,367,692		$	1,371,041		$	1,330,474		$	1,309,893

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.

OFG BANCORP 8-K