OFG Bancorp (Holding Company Only) Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

OFG Bancorp (Holding Company Only) Financial Information [Abstract]

Condensed Consolidating Balance Sheet [Table Text Block]


	December 31,
	2019		2018
	(In thousands)
ASSETS
Cash and cash equivalents	$	27,932	$	39,207
Investment in bank subsidiary, equity method		1,027,633		983,718
Investment in nonbank subsidiaries, equity method		32,803		19,341
Due from bank subsidiary, net		40		40
Deferred tax asset, net		-		(1)
Other assets		676		1,123
Total assets	$	1,089,084	$	1,043,428
LIABILITIES AND STOCKHOLDERS’ EQUITY
Dividend payable		5,222		5,219
Due to affiliates		-		14
Accrued expenses and other liabilities		2,301		2,235
Subordinated capital notes		36,083		36,083
Total liabilities		43,606		43,551
Stockholders’ equity		1,045,478		999,877
Total liabilities and stockholders’ equity	$	1,089,084	$	1,043,428

Condensed Consolidating Statement Of Operations [Table Text Block]

	Year Ended December 31,
	2019		2018			2017
	(In thousands)
Income:
Interest income	$	828	$	477	$	188
Investment trading activities, net and other		5,308		6,003		4,511
Total income		6,136		6,480		4,699
Expenses:
Interest expense		2,012		1,905		1,556
Operating expenses		7,516		7,980		6,700
Total expenses		9,528		9,885		8,256
Loss before income taxes		(3,392)		(3,405)		(3,557)
Income tax expense		1,705		2,400		403
Loss before changes in undistributed earnings of subsidiaries		(5,097)		(5,805)		(3,960)
Equity in undistributed earnings from:
Bank subsidiary		56,114		87,128		51,612
Nonbank subsidiaries		2,824		3,087		4,994
Net income	$	53,841	$	84,410	$	52,646

Condensed Consolidating Other Comprenhensive Income [Table Text Block]


	Year Ended December 31,
	2019		2018		2017
	(In thousands)
Net income	$	53,841	$	84,410	$	52,646
Other comprehensive loss before tax:
Other comprehensive income from bank subsidiary		9,955		(8,014)		(4,545)
Other comprehensive loss before taxes		9,955		(8,014)		(4,545)
Income tax effect		-		-		-
Other comprehensive loss after taxes		9,955		(8,014)		(4,545)
Comprehensive income	$	63,796	$	76,396	$	48,101

Condensed Consolidating Statement Of Cash Flows [Table Text Block]


	Year Ended December 31,
	2019		2018		2017
	(In thousands)
Cash flows from operating activities:
Net income	$	53,841	$	84,410	$	52,646
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings from banking subsidiary		(56,114)		(87,128)		(51,612)
Equity in undistributed earnings from nonbanking subsidiaries		(2,824)		(3,087)		(4,994)
Stock-based compensation		2,134		1,401		1,109
Employee benefit adjustment		-		-		(99)
Deferred income tax, net		-		2,230		414
Net decrease (increase) in other assets		458		372		(205)
Net (decrease) increase in accrued expenses and other liabilities		64		203		(1,185)
Dividends from banking subsidiary		20,000		37,700		26,743
Dividends from non-banking subsidiary		6,017		4,000		4,002
Net cash provided by operating activities		23,576		40,101		26,819
Cash flows from investing activities:
Net decrease in due from bank subsidiary, net		-		-		307
Net decrease in due to non-bank subsidiary, net		(14)		14		-
Proceeds from sales of premises and equipment		310		200		-
Capital contribution to banking subsidiary		(1,720)		(1,105)		(788)
Capital contribution to non-banking subsidiary		(13,518)		(24)		(50)
Additions to premises and equipment		(319)		(97)		(19)
Net cash (used in) provided by investing activities		(15,261)		(1,012)		(550)
Cash flows from financing activities:
Proceeds from (payments to) exercise of stock options and lapsed restricted units, net		1,294		508		-
Dividends paid		(20,884)		(24,820)		(24,412)
Net cash used in financing activities		(19,590)		(24,312)		(24,412)
Net change in cash and cash equivalents		(11,275)		14,777		1,857
Cash and cash equivalents at beginning of year		39,207		24,430		22,573
Cash and cash equivalents at end of year	$	27,932	$	39,207	$	24,430