<SEC-DOCUMENT>0001494787-18-000001.txt : 20180308
<SEC-HEADER>0001494787-18-000001.hdr.sgml : 20180308
<ACCEPTANCE-DATETIME>20180308162016
ACCESSION NUMBER:		0001494787-18-000001
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180228
FILED AS OF DATE:		20180308
DATE AS OF CHANGE:		20180308

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Cruz Rafael
		CENTRAL INDEX KEY:			0001494787

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12647
		FILM NUMBER:		18676702

	MAIL ADDRESS:	
		STREET 1:		URB. PASEO LOS CORALES
		STREET 2:		605 MAR INDICO
		CITY:			DORADO
		STATE:			PR
		ZIP:			00646

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OFG BANCORP
		CENTRAL INDEX KEY:			0001030469
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				660538893
		STATE OF INCORPORATION:			PR
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		254 MU?OZ RIVERA AVENUE
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00918
		BUSINESS PHONE:		7877716800

	MAIL ADDRESS:	
		STREET 1:		254 MU?OZ RIVERA AVENUE
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00918

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ORIENTAL FINANCIAL GROUP INC
		DATE OF NAME CHANGE:	19970110
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2018-02-28</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001030469</issuerCik>
        <issuerName>OFG BANCORP</issuerName>
        <issuerTradingSymbol>OFG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001494787</rptOwnerCik>
            <rptOwnerName>Cruz Rafael</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>URB. PASEO LOS CORALES</rptOwnerStreet1>
            <rptOwnerStreet2>605 MAR INDICO</rptOwnerStreet2>
            <rptOwnerCity>DORADO</rptOwnerCity>
            <rptOwnerState>PR</rptOwnerState>
            <rptOwnerZipCode>00646</rptOwnerZipCode>
            <rptOwnerStateDescription>PUERTO RICO</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVP &amp; Chief Risk &amp; Compliance</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1627.461</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Defined Contribution Plan (401K)</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Qualified Stock Option</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>21650</value>
                    <footnoteId id="F4"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.</footnote>
        <footnote id="F2">Subject to the provisions of the Plan, the Restricted Period shall lapse in its entirety on the third anniversary of the date of this Award.</footnote>
        <footnote id="F3">Not applicable. The Grantee is expected to receive the underlying shares of common stock at the end of the Restricted Period.</footnote>
        <footnote id="F4">A quarter of the stock options granted vest on the second anniversary of the award and annually thereafter until fully vesting on the fifth anniversary of the award. Mr. Cruz has: 1,025 stock options awarded on January 21, 2011 with an exercise price of $11.82; 4,125 stock options awarded on February 23, 2012, with an exercise price of $11.83; 4,500 stock options awarded on January 22, 2013, with an exercise price of $14.52; 6,000 stock options awarded on February 27, 2014, with an exercise price of $16.10; and 6,000 stock options awarded on February 24, 2015 with an exercise price of $17.44.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Rafael Cruz</signatureName>
        <signatureDate>2018-03-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
