Document

Exhibit 99

OFG Bancorp Reports 3Q25 Results

SAN JUAN, Puerto Rico, October 22, 2025 – OFG Bancorp (NYSE: OFG), the financial holding company for Oriental Bank, today reported results for the third quarter ended September 30, 2025. EPS diluted of $1.16 compared to $1.15 in 2Q25 and $1.00 in 3Q24. Total core revenues of $184.0 million compared to $182.2 million in 2Q25 and $174.1 million in 3Q24.

CEO Comment

José Rafael Fernández, Chief Executive Officer, said: “Third quarter EPS grew 16% year-over-year on a 5.6% increase in total core revenues. Loan and core deposit balances increased year-over-year with important growth in commercial loans as we began to see the long-anticipated moderation in auto loan originations. Performance and credit metrics remained strong, and we repurchased $20.4 million of common shares.”

"Our Digital First strategy is making significant strides, expanding our positioning as leaders in banking innovation in Puerto Rico. The broad acceptance of our flagship mass-market Libre and mass affluent Elite accounts has driven customer acquisition and retention. Building on this success, we are enhancing our efforts with AI-driven predictive customer insights. Customers now receive tailored insights based on cash flows and payment habits, helping them monitor their budgets and access value-added tools to improve their finances directly from their mobile phones or online. This quarter, we have also launched internal initiatives to apply AI to boost efficiency across all banking operations.”

“Puerto Rico’s economy continued to perform well during the third quarter with a summer tourism surge, solid consumer and business liquidity, and new multi-million dollar on-shoring investments, confirming the island’s position as a world leader of manufacturing medical devices and pharmaceutical products. All these are exciting developments that reinforce our confidence in the island’s future.”

3Q25 Highlights

Performance Metrics: Net interest margin of 5.24%, return on average assets of 1.69%, return on average tangible common stockholders’ equity of 16.39%, and efficiency ratio of 52.48%.

Total Interest Income of $200.1 million compared to $194.3 million in 2Q25 and $189.0 million in 3Q24. Compared to 2Q25, 3Q25 increased $5.8 million, reflecting higher average balances of loans and investments and $1.6 million from one additional business day.

Total Interest Expense of $45.4 million compared to $42.4 million in 2Q25 and $41.2 million in 3Q24. Compared to 2Q25, 3Q25 increased $3.0 million, reflecting higher average balances of core deposits and wholesale funding, higher cost of deposits, and $0.5 million from one additional business day.

Total Banking & Financial Service Revenues of $29.3 million compared to $30.2 million in 2Q25 and $26.3 million in 3Q24. Compared to 2Q25, 3Q25 reflected a sequential decline in mortgage banking revenues due to a change in MSR valuation.

Pre-Provision Net Revenues of $89.6 million compared to $87.6 million in 2Q25 and $83.1 million in 3Q24.

Other Income of $2.2 million included gains from OFG Ventures investments in fintech-focused funds.

Total Provision for Credit Losses of $28.3 million compared to $21.7 million in 2Q25 and $21.4 million in 3Q24. 3Q25 primarily reflected $13.5 million for increased loan volume, $5.6 million in specific reserves on two commercial loans, $4.3 million for updated prepayment assumptions in commercial loan and residential mortgage portfolios, $2.9 million for macroeconomic factors, and $1.3 million due to qualitative adjustment.

Credit Quality: Net charge-offs of $20.2 million (1.00% of average loans) compared to $12.8 million (0.64%) in 2Q25 and $17.1 million (0.90%) in 3Q24. 3Q25 early and total delinquency rates were 2.84% and 4.06%, respectively, in line with ranges seen over the past year. The nonperforming loan rate was 1.22% compared to 1.19% in 2Q25 and 1.03% in 3Q24.

Total Non-Interest Expense of $96.5 million compared to $94.8 million in 2Q25 and $91.6 million in 3Q24. Compared to 2Q25, 3Q25 reflected strategic investments of $1.1 million in technology, people and process improvement; $1.1 million due to higher business activity and marketing; and a $0.8 million reduction in foreclosed real estate costs.

Income Tax Expense of $9.5 million compared to $14.1 million in 2Q25 and $14.8 million in 3Q24. 3Q25 ETR was 15.53%, reflecting a benefit of $2.3 million in discrete items during the quarter and an anticipated rate of 23.06% for the year.

Loans Held for Investment (EOP) of $8.12 billion compared to $8.18 billion in 2Q25 and $7.75 billion in 3Q24. 3Q25 loans decreased 0.8% sequentially primarily due to repayment of commercial lines of credit funded in 2Q25. Loans increased 4.73% year-over-year, reflecting increases in Puerto Rico and U.S. commercial, consumer, and auto, partially offset by a decrease in residential mortgage.

New Loan Production of $623.9 million compared to $783.7 million in 2Q25 and $572.2 million in 3Q24. Compared to 2Q25, 3Q25 reflected in part the moderation in auto. Year-over-year new loan production was up 9.0%.

Total Investments (EOP) of $2.94 billion compared to $2.78 billion in 2Q25 and $2.61 billion in 3Q24. Compared to 2Q25, 3Q25 primarily reflected purchases of $200 million of mortgage-backed securities yielding 5.32%, partially offset by repayments.

Customer Deposits (EOP) of $9.82 billion decreased $76.2 million from $9.90 billion in 2Q25 and increased $286.5 million from $9.53 billion in 3Q24. Compared to 2Q25, 3Q25 reflected lower demand and time deposit balances, partially offset by higher savings deposit balances.

Total Borrowings & Brokered Deposits (EOP) of $746.4 million compared to $732.3 million in 2Q25 and $346.5 million in 3Q24. Compared to 2Q25, 3Q25 reflected increased borrowings and decreased brokered deposits.

Cash & Cash Equivalents (EOP) of $740.3 million compared to $851.8 million in 2Q25 and $680.6 million in 3Q24. During 3Q25, cash was used to purchase the above-mentioned mortgage-backed securities.

Capital: CET1 ratio was 14.13% compared to 13.99% in 2Q25 and 14.37% in 3Q24. Tangible Common Equity ratio was 10.55% compared to 10.20% in 2Q25 and 10.72% in 3Q24. Tangible Book Value per share was $28.92 compared to $27.67 in 2Q25 and $26.15 in 3Q24. 3Q25 included repurchases of 477,600 common shares for $20.4 million.

Conference Call, Financial Supplement & Presentation

A conference call to discuss 3Q25 results, outlook and related matters will be held today at 10:00 AM ET. Phone (800) 579-2543 or (785) 424-1789. Conference ID: OFGQ325. 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 September 30, 2025, and the 3Q25 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 September 30, 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	4
Table 3:	Consolidated Statements of Financial Condition	6
Table 4:	Information on Loan Portfolio and Production	7
Table 5:	Average Balances, Net Interest Income and Net Interest Margin	9
Table 6:	Loan Information and Performance Statistics	11
Table 7:	Allowance for Credit Losses	14
Table 8:	Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital	15
Table 9:	Notes to Financial Summary, Selected Metrics, Loans, and Consolidated Financial Statements (Tables 1-8)	17

OFG Bancorp (NYSE: OFG)

Table 1-1: Financial and Statistical Summary - Consolidated


		2025			2025			2025			2024			2024
(Dollars in thousands, except per share data) (unaudited)		Q3			Q2			Q1			Q4			Q3
Statement of Operations
Net interest income		$	154,724		$	151,928		$	149,071		$	149,138		$	147,875
Non-interest income, net (core)	(1)	29,256			30,246			29,212			32,766			26,271
Total core revenues	(2)	183,980			182,174			178,283			181,904			174,146
Non-interest expense		96,548			94,802			93,452			99,718			91,600
Pre-provision net revenues	(21)	89,629			87,556			85,136			82,977			83,143
Total provision for credit losses		28,258			21,678			25,688			30,190			21,359
Net income before income taxes		61,371			65,878			59,448			52,787			61,784
Income tax expense		9,533			14,078			13,876			2,440			14,784
Net income available to common stockholders		51,838			51,800			45,572			50,347			47,000
Common Share Statistics
Earnings per common share - basic	(3)	$	1.17		$	1.15		$	1.01		$	1.10		$	1.01
Earnings per common share - diluted	(4)	$	1.16		$	1.15		$	1.00		$	1.09		$	1.00
Average common shares outstanding		44,430			44,854			45,295			45,946			46,560
Average common shares outstanding and equivalents		44,658			45,033			45,509			46,248			46,846
Cash dividends per common share		$	0.30		$	0.30		$	0.30		$	0.25		$	0.25
Book value per common share (period end)		$	31.07		$	29.83		$	28.83		$	27.60		$	28.31
Tangible book value per common share (period end)	(5)	$	28.92		$	27.67		$	26.66		$	25.43		$	26.15
Balance Sheet (Average Balances)
Loans	(6)	$	8,098,058		$	7,963,890		$	7,784,757		$	7,717,566		$	7,634,511
Interest-earning assets		11,715,599			11,466,602			11,152,184			10,981,886			10,837,380
Total assets		12,248,544			11,958,502			11,657,544			11,523,140			11,347,795
Core deposits		9,866,369			9,736,301			9,623,779			9,555,213			9,588,752
Total deposits		10,086,731			9,963,960			9,782,001			9,651,748			9,609,820
Interest-bearing deposits		7,498,818			7,382,083			7,240,258			7,107,550			7,042,467
Borrowings		548,832			444,820			358,666			329,231			241,062
Stockholders' equity		1,361,055			1,318,886			1,290,888			1,304,779			1,280,760

Performance Metrics
Net interest margin	(7)	5.24		%	5.31		%	5.42		%	5.40		%	5.43		%
Return on average assets	(8)	1.69		%	1.73		%	1.56		%	1.75		%	1.66		%
Return on average tangible common stockholders' equity	(9)	16.39		%	16.96		%	15.28		%	16.71		%	15.94		%
Efficiency ratio	(10)	52.48		%	52.04		%	52.42		%	54.82		%	52.60		%
Full-time equivalent employees, period end		2,217			2,222			2,223			2,246			2,236
Credit Quality Metrics
Allowance for credit losses		$	197,782		$	189,944		$	181,174		$	175,863		$	161,500
Allowance as a % of loans held for investment		2.44		%	2.32		%	2.31		%	2.26		%	2.08		%
Net charge-offs		$	20,208		$	12,784		$	20,370		$	15,862		$	17,103
Net charge-off rate	(11)	1.00		%	0.64		%	1.05		%	0.82		%	0.90		%
Early delinquency rate (30 - 89 days past due)		2.84		%	2.46		%	2.19		%	2.95		%	2.78		%
Total delinquency rate (30 days and over)		4.06		%	3.59		%	3.49		%	4.38		%	4.10		%
Capital Ratios (period end) (Non-GAAP)	(12)(20)
Leverage ratio		10.75		%	10.83		%	10.83		%	10.93		%	11.12		%
Common equity Tier 1 capital ratio		14.13		%	13.99		%	14.27		%	14.26		%	14.37		%
Tier 1 risk-based capital ratio		14.13		%	13.99		%	14.27		%	14.26		%	14.37		%
Total risk-based capital ratio		15.39		%	15.25		%	15.53		%	15.52		%	15.63		%
Tangible common equity ("TCE") ratio		10.55		%	10.20		%	10.30		%	10.13		%	10.72		%

OFG Bancorp (NYSE: OFG)

Table 1-2: Financial and Statistical Summary - Consolidated (Continued)


		Nine-month period ended
(Dollars in thousands, except per share data) (unaudited)		September 30, 2025			September 30, 2024
Statement of Operations
Net interest income		$	455,723		$	439,302
Non-interest income, net (core)	(1)	88,714			88,415
Total core revenues	(2)	544,437			527,717
Non-interest expense		284,802			275,972
Pre-provision net revenues	(21)	262,321			253,022
Total provision for credit losses		75,624			52,061
Net income before income taxes		186,697			200,961
Income tax expense		37,487			53,138
Net income available to common stockholders		149,210			147,823
Common Share Statistics
Earnings per common share - basic	(3)	$	3.33		$	3.15
Earnings per common share - diluted	(4)	$	3.31		$	3.14
Average common shares outstanding		44,857			46,868
Average common shares outstanding and equivalents		45,056			47,111
Cash dividends per common share		$	0.90		$	0.75
Book value per common share (period end)		$	31.07		$	28.31
Tangible book value per common share (period end)	(5)	$	28.92		$	26.15
Balance Sheet (Average Balances)
Loans	(6)	$	7,950,053		$	7,596,365
Interest-earning assets		11,446,863			10,778,878
Total assets		11,957,028			11,259,969
Core deposits		9,743,039			9,573,850
Total deposits		9,945,348			9,600,952
Interest-bearing deposits		7,374,668			7,040,298
Borrowings		451,469			227,296
Stockholders' equity		1,323,866			1,239,451

Performance Metrics
Net interest margin	(7)	5.32		%	5.44		%
Return on average assets	(8)	1.66		%	1.75		%
Return on average tangible common stockholders' equity	(9)	16.22		%	17.34		%
Efficiency ratio	(10)	52.31		%	52.30		%
Full-time equivalent employees, period end		2,217			2,236
Credit Quality Metrics
Allowance for credit losses		$	197,782		$	161,500
Allowance as a % of loans held for investment		2.44		%	2.08		%
Net charge-offs		$	53,362		$	51,928
Net charge-off rate	(11)	0.89		%	0.91		%
Early delinquency rate (30 - 89 days past due)		2.84		%	2.78		%
Total delinquency rate (30 days and over)		4.06		%	4.10		%

OFG Bancorp (NYSE: OFG)

Table 2-1: Consolidated Statements of Operations


	Quarter Ended
(Dollars in thousands) (unaudited)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Interest income:
Loans
Non-PCD loans	$	146,665	$	141,797	$	137,690	$	139,659	$	139,358
PCD loans	14,669		15,190		15,718		15,682		15,052
Total interest income from loans	161,334		156,987		153,408		155,341		154,410
Investment securities and cash	38,811		37,360		35,814		34,822		34,620
Total interest income	200,145		194,347		189,222		190,163		189,030
Interest expense:
Deposits
Core deposits	37,458		35,529		34,645		36,312		38,123
Brokered deposits	2,284		2,350		1,647		1,020		221
Total deposits	39,742		37,879		36,292		37,332		38,344
Borrowings	5,679		4,540		3,859		3,693		2,811
Total interest expense	45,421		42,419		40,151		41,025		41,155
Net interest income	154,724		151,928		149,071		149,138		147,875
Provision for credit losses, excluding PCD loans	27,591		21,010		24,810		32,838		21,070
Provision for (recapture of) credit losses on PCD loans	667		668		878		(2,648)		289
Total provision for credit losses	28,258		21,678		25,688		30,190		21,359
Net interest income after provision for credit losses	126,466		130,250		123,383		118,948		126,516
Non-interest income:
Banking service revenues	15,930		15,982		15,981		15,329		15,554
Wealth management revenues	9,014		8,918		8,455		10,626		8,449
Mortgage banking activities	4,312		5,346		4,776		6,811		2,268
Total banking and financial service revenues	29,256		30,246		29,212		32,766		26,271

Other income, net	2,197		184		305		791		597
Total non-interest income, net	31,453		30,430		29,517		33,557		26,868
Non-interest expense:
Compensation and employee benefits	39,836		39,565		39,932		42,959		38,468
Occupancy, equipment and infrastructure costs	14,994		14,629		14,820		15,284		15,124
General and administrative expenses	42,239		40,298		37,672		39,672		36,736
Foreclosed real estate and other repossessed assets expenses (income), net	(521)		310		1,028		1,803		1,272


Total non-interest expense	96,548		94,802		93,452		99,718		91,600
Income before income taxes	61,371		65,878		59,448		52,787		61,784
Income tax expense	9,533		14,078		13,876		2,440		14,784


Net income available to common shareholders	$	51,838	$	51,800	$	45,572	$	50,347	$	47,000

OFG Bancorp (NYSE: OFG)

Table 2-2: Consolidated Statements of Operations (Continued)


(Dollars in thousands) (unaudited)	Nine-month period ended
	September 30, 2025		September 30, 2024
Interest income:
Loans
Non-PCD loans	$	426,152	$	410,071
PCD loans	45,577		48,190
Total interest income from loans	471,729		458,261
Investment securities and cash	111,985		101,853
Total interest income	583,714		560,114
Interest expense:
Deposits
Core deposits	107,632		111,903
Brokered deposits	6,281		1,045
Total deposits	113,913		112,948
Borrowings	14,078		7,864
Total interest expense	127,991		120,812
Net interest income	455,723		439,302
Provision for credit losses, excluding PCD loans	73,411		54,588
Provision for (recapture of) credit losses on PCD loans	2,213		(2,527)
Total provision for credit losses	75,624		52,061
Net interest income after provision for credit losses	380,099		387,241
Non-interest income:
Banking service revenues	47,893		51,594
Wealth management revenues	26,387		24,996
Mortgage banking activities	14,434		11,825
Total banking and financial service revenues	88,714		88,415

Other income (loss), net	2,686		1,277
Total non-interest income, net	91,400		89,692
Non-interest expense:
Compensation and employee benefits	119,333		116,751
Occupancy, equipment and infrastructure costs	44,443		43,839
General and administrative expenses	120,209		114,173
Foreclosed real estate and other repossessed assets expenses (income), net	817		1,209


Total non-interest expense	284,802		275,972
Income before income taxes	186,697		200,961
Income tax expense	37,487		53,138


Net income available to common shareholders	$	149,210	$	147,823

OFG Bancorp (NYSE: OFG)

Table 3: Consolidated Statements of Financial Condition


(Dollars in thousands) (unaudited)		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Cash and cash equivalents		$	740,349	$	851,798	$	710,600	$	591,137	$	680,587
Investments:
Trading securities		21		18		19		18		18
Investment securities available-for-sale, at fair value, no allowance for credit losses for any period
Mortgage-backed securities		2,564,831		2,406,956		2,413,420		2,336,505		2,228,399
US treasury securities		1,635		1,399		1,384		1,150		1,136
Other investment securities		503		519		533		550		567
Total investment securities available-for-sale		2,566,969		2,408,874		2,415,337		2,338,205		2,230,102

Investment securities held-to-maturity, at amortized cost, no allowance for credit losses for any period
Mortgage-backed securities		275,116		281,186		286,824		292,158		297,713

Other investment securities		35,000		35,000		35,000		35,000		35,000
Total investment securities held-to-maturity		310,116		316,186		321,824		327,158		332,713
Equity securities		61,906		59,556		48,785		54,896		45,692
Total investments		2,939,012		2,784,634		2,785,965		2,720,277		2,608,525
Loans, net		7,935,413		8,009,599		7,688,271		7,633,831		7,604,700
Other assets:

Prepaid expenses		150,461		119,766		68,216		72,010		98,755
Deferred tax asset, net		7,468		7,048		6,299		6,248		4,130
Foreclosed real estate and repossessed properties		8,025		7,363		10,927		10,597		11,388
Premises and equipment, net		100,760		102,095		103,577		104,512		105,279
Goodwill		84,241		84,241		84,241		84,241		84,241
Other intangibles		11,086		12,318		13,550		14,782		16,260
Right of use assets		22,694		17,284		18,663		19,197		20,355
Servicing asset		67,437		68,588		69,238		70,435		68,512
Accounts receivable and other assets		162,866		166,776		169,710		173,467		158,650
Total assets		$	12,229,812	$	12,231,510	$	11,729,257	$	11,500,734	$	11,461,382

Deposits:
Demand deposits		$	5,791,959	$	5,801,400	$	5,841,418	$	5,627,406	$	5,859,787
Savings accounts		2,208,212		2,131,076		2,107,622		2,064,916		2,019,832
Time deposits		1,819,397		1,963,336		1,808,117		1,756,389		1,653,402
Brokered deposits		189,065		248,353		165,812		156,075		75,631
Total deposits		10,008,633		10,144,165		9,922,969		9,604,786		9,608,652
Borrowings:
Securities sold under agreements to repurchase		100,791		27,463		—		75,222		—
Advances from FHLB and other borrowings		456,530		456,530		255,642		325,952		270,827

Total borrowings		557,321		483,993		255,642		401,174		270,827
Other liabilities:


Acceptances outstanding		29,975		27,572		35,269		31,526		26,055
Lease liability		24,681		19,354		20,795		21,388		22,604
GNMA buy-back option program liability	(22)	46,716		43,281		44,665		48,586		41,801
Deferred tax liability, net		50,298		48,374		44,223		40,718		57,503
Accrued expenses and other liabilities		136,771		130,318		110,333		98,185		115,808
Total liabilities		10,854,395		10,897,057		10,433,896		10,246,363		10,143,250
Stockholders' equity:

Common stock		59,885		59,885		59,885		59,885		59,885
Additional paid-in capital		641,350		639,901		638,475		639,786		639,487
Legal surplus		183,614		178,834		173,905		169,537		164,990
Retained earnings		866,826		833,187		802,024		771,993		737,815
Treasury stock, at cost		(348,957)		(328,572)		(320,927)		(296,991)		(251,055)
Accumulated other comprehensive loss, net		(27,301)		(48,782)		(58,001)		(89,839)		(32,990)
Total stockholders' equity		1,375,417		1,334,453		1,295,361		1,254,371		1,318,132
Total liabilities and stockholders' equity		$	12,229,812	$	12,231,510	$	11,729,257	$	11,500,734	$	11,461,382

OFG Bancorp (NYSE: OFG)

Table 4-1: Information on Loan Portfolio and Production


(Dollars in thousands) (unaudited)		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Non-PCD:
Mortgage, excluding GNMA buy-back option program		$	580,332	$	575,423	$	571,637	$	580,267	$	577,320
Mortgage GNMA buy-back option program	(22)	46,716		43,281		44,665		48,586		41,801

Commercial PR		2,469,925		2,511,495		2,337,872		2,310,281		2,318,964
Commercial US		831,731		825,254		727,409		704,081		680,388
Consumer		685,740		680,060		670,213		667,963		663,748
Auto		2,646,811		2,661,795		2,592,922		2,549,033		2,483,611
		7,261,255		7,297,308		6,944,718		6,860,211		6,765,832
Less: Allowance for credit losses		(189,701)		(182,765)		(174,752)		(170,709)		(155,133)
Total non-PCD loans held for investment, net		7,071,554		7,114,543		6,769,966		6,689,502		6,610,699

PCD:
Mortgage		772,808		795,863		819,271		841,964		864,491
Commercial PR		82,748		86,685		87,779		88,729		119,029
Consumer		337		575		595		598		560
Auto		119		160		281		460		664
		856,012		883,283		907,926		931,751		984,744
Less: Allowance for credit losses		(8,081)		(7,179)		(6,422)		(5,154)		(6,367)
Total PCD loans held for investment, net		847,931		876,104		901,504		926,597		978,377
Total loans held for investment		7,919,485		7,990,647		7,671,470		7,616,099		7,589,076
Mortgage loans held for sale		9,680		14,590		12,439		13,286		10,908
Other loans held for sale		6,248		4,362		4,362		4,446		4,716
Total loans, net		$	7,935,413	$	8,009,599	$	7,688,271	$	7,633,831	$	7,604,700

Loan Portfolio Summary:
Loans held for investment:
Mortgage, excluding GNMA buy-back option program		$	1,353,140	$	1,371,286	$	1,390,908	$	1,422,231	$	1,441,811
Mortgage GNMA buy-back option program	(22)	46,716		43,281		44,665		48,586		41,801

Commercial PR		2,552,673		2,598,180		2,425,651		2,399,010		2,437,993
Commercial US		831,731		825,254		727,409		704,081		680,388
Consumer		686,077		680,635		670,808		668,561		664,308
Auto		2,646,930		2,661,955		2,593,203		2,549,493		2,484,275
		8,117,267		8,180,591		7,852,644		7,791,962		7,750,576
Less: Allowance for credit losses		(197,782)		(189,944)		(181,174)		(175,863)		(161,500)
Total loans held for investment, net		7,919,485		7,990,647		7,671,470		7,616,099		7,589,076
Mortgage loans held for sale		9,680		14,590		12,439		13,286		10,908
Other loans held for sale		6,248		4,362		4,362		4,446		4,716
Total loans, net		$	7,935,413	$	8,009,599	$	7,688,271	$	7,633,831	$	7,604,700

OFG Bancorp (NYSE: OFG)

Table 4-2: Information on Loan Portfolio and Production


		Quarter Ended										Nine-month period ended
(Dollars in thousands) (unaudited)		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024		September 30, 2025		September 30, 2024
Loan production	(13)
Mortgage		$	42,392	$	55,575	$	37,014	$	42,562	$	37,091	$	134,981	$	107,772
Commercial PR		216,560		253,874		163,232		211,217		149,856		633,666		528,390
Commercial US		116,368		147,193		57,939		44,034		67,133		321,500		111,641
Consumer		76,027		76,757		67,859		68,941		86,575		220,643		235,514
Auto		172,558		250,269		232,897		242,225		231,573		655,724		714,525
Total		$	623,905	$	783,668	$	558,941	$	608,979	$	572,228	$	1,966,514	$	1,697,842

OFG Bancorp (NYSE: OFG)

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


	2025 Q3						2025 Q2						2025 Q1						2024 Q4						2024 Q3
(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	$	784,978	$	8,555	4.32	%	$	746,356	$	8,078	4.34	%	$	593,325	$	6,316	4.32	%	$	560,013	$	6,534	4.64	%	$	630,836	$	8,362	5.27	%
Investment securities	2,832,563		30,256		4.27	%	2,756,356		29,282		4.25	%	2,774,102		29,498		4.25	%	2,704,307		28,288		4.18	%	2,572,033		26,258		4.08	%
Loans held for investment
Non-PCD loans	7,228,920		146,665		8.05	%	7,067,367		141,797		8.05	%	6,864,180		137,690		8.14	%	6,763,828		139,659		8.21	%	6,634,043		139,358		8.36	%
PCD loans	869,138		14,669		6.75	%	896,523		15,190		6.78	%	920,577		15,718		6.83	%	953,738		15,682		6.58	%	1,000,468		15,052		6.02	%
Total loans	8,098,058		161,334		7.90	%	7,963,890		156,987		7.91	%	7,784,757		153,408		7.99	%	7,717,566		155,341		8.01	%	7,634,511		154,410		8.05	%
Total interest-earning assets	$	11,715,599	$	200,145	6.78	%	$	11,466,602	$	194,347	6.80	%	$	11,152,184	$	189,222	6.88	%	$	10,981,886	$	190,163	6.89	%	$	10,837,380	$	189,030	6.94	%

Interest bearing liabilities:
Deposits
NOW accounts	$	3,208,598	$	15,941	1.97	%	$	3,211,382	$	15,451	1.93	%	$	3,193,088	$	14,897	1.89	%	$	3,282,808	$	16,871	2.04	%	$	3,395,425	$	20,013	2.34	%
Savings accounts	2,215,538		6,212		1.11	%	2,119,036		5,175		0.98	%	2,093,431		5,028		0.97	%	2,038,523		5,062		0.99	%	2,009,028		4,777		0.95	%
Time deposits	1,854,320		14,362		3.07	%	1,824,006		13,960		3.07	%	1,795,517		13,777		3.11	%	1,689,684		13,247		3.12	%	1,616,946		12,202		3.00	%
Brokered deposits	220,362		2,284		4.11	%	227,659		2,350		4.14	%	158,222		1,647		4.22	%	96,535		1,020		4.21	%	21,068		221		4.17	%
	7,498,818		38,799		2.05	%	7,382,083		36,936		2.01	%	7,240,258		35,349		1.98	%	7,107,550		36,200		2.03	%	7,042,467		37,213		2.10	%
Non-interest bearing deposit accounts	2,587,913		—		—		2,581,877		—		—		2,541,743		—		—		2,544,198		—		—		2,567,353		—		—
Fair value premium and core deposit intangible amortization	—		943		—		—		943		—		—		943		—		—		1,132		—		—		1,131		—
Total deposits	10,086,731		39,742		1.56	%	9,963,960		37,879		1.52	%	9,782,001		36,292		1.50	%	9,651,748		37,332		1.54	%	9,609,820		38,344		1.59	%
Borrowings
Securities sold under agreements to repurchase	93,028		986		4.21	%	10,517		120		4.56	%	63,531		710		4.53	%	44,837		542		4.81	%	—		—		—	%
Advances from FHLB and other borrowings	455,804		4,693		4.08	%	434,303		4,420		4.08	%	295,135		3,149		4.33	%	284,394		3,151		4.41	%	241,062		2,811		4.64	%

Total borrowings	548,832		5,679		4.10	%	444,820		4,540		4.09	%	358,666		3,859		4.36	%	329,231		3,693		4.46	%	241,062		2,811		4.64	%
Total liabilities	$	10,635,563	$	45,421	1.69	%	$	10,408,780	$	42,419	1.63	%	$	10,140,667	$	40,151	1.61	%	$	9,980,979	$	41,025	1.64	%	$	9,850,882	$	41,155	1.66	%
Interest rate spread			$	154,724	5.09	%			$	151,928	5.17	%			$	149,071	5.27	%			$	149,138	5.25	%			$	147,875	5.28	%
Net interest margin					5.24	%					5.31	%					5.42	%					5.40	%					5.43	%

Core deposits: (Non-GAAP)

NOW accounts	$	3,208,598	$	15,941	1.97	%	$	3,211,382	$	15,451	1.93	%	$	3,193,088	$	14,897	1.89	%	$	3,282,808	$	16,871	2.04	%	$	3,395,425	$	20,013	2.34	%
Savings accounts	2,215,538		6,212		1.11	%	2,119,036		5,175		0.98	%	2,093,431		5,028		0.97	%	2,038,523		5,062		0.99	%	2,009,028		4,777		0.95	%
Time deposits	1,854,320		14,362		3.07	%	1,824,006		13,960		3.07	%	1,795,517		13,777		3.11	%	1,689,684		13,247		3.12	%	1,616,946		12,202		3.00	%
	7,278,456		36,515		1.99	%	7,154,424		34,586		1.94	%	7,082,036		33,702		1.93	%	7,011,015		35,180		2.00	%	7,021,399		36,992		2.10	%
Non-interest bearing deposit accounts	2,587,913		—		—		2,581,877		—		—		2,541,743		—		—		2,544,198		—		—		2,567,353		—		—
Total core deposits	$	9,866,369	$	36,515	1.47	%	$	9,736,301	$	34,586	1.42	%	$	9,623,779	$	33,702	1.42	%	$	9,555,213	$	35,180	1.46	%	$	9,588,752	$	36,992	1.53	%
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings	$	548,832	$	5,679	4.10	%	$	444,820	$	4,540	4.09	%	$	358,666	$	3,859	4.36	%	$	329,231	$	3,693	4.46	%	$	241,062	$	2,811	4.64	%
Brokered deposits	220,362		2,284		4.11	%	227,659		2,350		4.14	%	158,222		1,647		4.22	%	96,535		1,020		4.21	%	21,068		221		4.17	%
Total borrowings and brokered deposits	$	769,194	$	7,963	4.11	%	$	672,479	$	6,890	4.11	%	$	516,888	$	5,506	4.32	%	$	425,766	$	4,713	4.40	%	$	262,130	$	3,032	4.60	%

OFG Bancorp (NYSE: OFG)

Table 5-2: Average Balances, Net Interest Income and Net Interest Margin (Continued)


	Nine-month period ended
	September 30, 2025						September 30, 2024
(Dollars in thousands) (unaudited)	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate

Interest earning assets:
Cash equivalents	$	708,922	$	22,949	4.33	%	$	629,423	$	25,093	5.33	%
Investment securities	2,787,888		89,036		4.26	%	2,553,090		76,760		4.01	%
Loans held for investment
Non-PCD loans	7,054,829		426,152		8.08	%	6,562,504		410,071		8.35	%
PCD loans	895,224		45,577		6.79	%	1,033,861		48,190		6.21	%
Total loans	7,950,053		471,729		7.93	%	7,596,365		458,261		8.06	%
Total interest-earning assets	$	11,446,863	$	583,714	6.82	%	$	10,778,878	$	560,114	6.94	%

Interest bearing liabilities:
Deposits
NOW accounts	$	3,204,413	$	46,288	1.93	%	$	3,438,649	$	61,490	2.39	%
Savings accounts	2,143,116		16,415		1.02	%	2,024,127		13,782		0.91	%
Time deposits	1,824,830		42,099		3.08	%	1,550,420		33,235		2.86	%
Brokered deposits	202,309		6,281		4.15	%	27,102		1,045		5.15	%
	7,374,668		111,083		2.01	%	7,040,298		109,552		2.08	%
Non-interest bearing deposit accounts	2,570,680		—		—	%	2,560,654		—		—	%
Fair value premium and core deposit intangible amortization	—		2,830		—		—		3,396		—
Total deposits	9,945,348		113,913		1.53	%	9,600,952		112,948		1.57	%
Borrowings
Securities sold under agreements to repurchase	55,800		1,816		4.35	%	—		—		—	%
Advances from FHLB and other borrowings	395,669		12,262		4.14	%	227,296		7,864		4.62	%

Total borrowings	451,469		14,078		4.17	%	227,296		7,864		4.62	%
Total interest-bearing liabilities	$	10,396,817	$	127,991	1.65	%	$	9,828,248	$	120,812	1.64	%
Interest rate spread			$	455,723	5.17	%			$	439,302	5.30	%
Net interest margin					5.32	%					5.44	%

Core deposits: (Non-GAAP)

NOW accounts	$	3,204,413	$	46,288	1.93	%	$	3,438,649	$	61,490	2.39	%
Savings accounts	2,143,116		16,415		1.02	%	2,024,127		13,782		0.91	%
Time deposits	1,824,830		42,099		3.08	%	1,550,420		33,235		2.86	%
	7,172,359		104,802		1.95	%	7,013,196		108,507		2.07	%
Non-interest bearing deposit accounts	2,570,680		—		—	%	2,560,654		—		—	%
Total core deposits	$	9,743,039	$	104,802	1.44	%	$	9,573,850	$	108,507	1.51	%
Total borrowings and brokered deposits: (Non-GAAP)
Total borrowings	$	451,469	$	14,078	4.17	%	$	227,296	$	7,864	4.62	%
Brokered deposits	202,309		6,281		4.15	%	27,102		1,045		5.15	%
Total borrowings and brokered deposits	$	653,778	$	20,359	4.16	%	$	254,398	$	8,909	4.68	%

OFG Bancorp (NYSE: OFG)

Table 6-1: Loan Information and Performance Statistics


	2025			2025			2025			2024			2024
(Dollars in thousands) (unaudited)	Q3			Q2			Q1			Q4			Q3
Net Charge-offs
Non-PCD
Mortgage:
Charge-offs	$	—		$	11		$	23		$	24		$	37
Recoveries	(171)			(745)			(186)			(190)			(72)
Total mortgage	(171)			(734)			(163)			(166)			(35)
Commercial PR:
Charge-offs	1,446			273			112			713			139
Recoveries	(922)			(88)			(152)			(381)			(1,455)
Total commercial PR	524			185			(40)			332			(1,316)
Commercial US:
Charge-offs	3,647			—			2,918			315			—
Recoveries	—			—			—			—			(24)
Total commercial US	3,647			—			2,918			315			(24)
Consumer:
Charge-offs	7,704			6,970			8,252			8,242			8,863
Recoveries	(896)			(848)			(725)			(1,792)			(830)
Total consumer	6,808			6,122			7,527			6,450			8,033
Auto:
Charge-offs	16,743			14,870			18,192			18,503			16,371
Recoveries	(7,108)			(7,570)			(7,674)			(8,137)			(6,300)
Total auto	9,635			7,300			10,518			10,366			10,071
Total	$	20,443		$	12,873		$	20,760		$	17,297		$	16,729

PCD
Mortgage:
Charge-offs	$	—		$	59		$	—		$	—		$	66
Recoveries	(281)			(91)			(341)			(345)			(250)
Total mortgage	(281)			(32)			(341)			(345)			(184)
Commercial PR:
Charge-offs	205			31			—			39			663
Recoveries	(118)			(63)			(25)			(1,026)			(70)
Total commercial PR	87			(32)			(25)			(987)			593
Consumer:
Charge-offs	—			1			—			—			—
Recoveries	(10)			(11)			(6)			(13)			(19)
Total consumer	(10)			(10)			(6)			(13)			(19)
Auto:
Charge-offs	2			13			1			1			9
Recoveries	(33)			(28)			(19)			(91)			(25)
Total auto	(31)			(15)			(18)			(90)			(16)
Total	$	(235)		$	(89)		$	(390)		$	(1,435)		$	374

Total Net Charge-offs	$	20,208		$	12,784		$	20,370		$	15,862		$	17,103
Net Charge-off Rates
Mortgage	(0.13)		%	(0.22)		%	(0.14)		%	(0.14)		%	(0.06)		%
Commercial PR	0.10		%	0.02		%	(0.01)		%	(0.11)		%	(0.12)		%
Commercial US	1.74		%	—		%	1.62		%	0.18		%	(0.01)		%
Consumer	3.85		%	3.50		%	4.34		%	3.72		%	4.70		%
Auto	1.45		%	1.11		%	1.63		%	1.63		%	1.64		%
Total	1.00		%	0.64		%	1.05		%	0.82		%	0.90		%
Average Loans Held For Investment
Mortgage	$	1,361,765		$	1,379,986		$	1,404,961		$	1,429,022		$	1,446,855
Commercial PR	2,536,829			2,463,009			2,392,006			2,386,204			2,393,891
Commercial US	836,527			786,637			719,838			689,310			658,908
Consumer	705,945			698,581			693,563			692,119			681,391
Auto	2,656,992			2,635,677			2,574,389			2,520,911			2,453,466
Total	$	8,098,058		$	7,963,890		$	7,784,757		$	7,717,566		$	7,634,511

(a) Refer to “(c)” in Table 1-1.

OFG Bancorp (NYSE: OFG)

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


		2025			2025			2025			2024			2024
(Dollars in thousands) (unaudited)		Q3			Q2			Q1			Q4			Q3
Early Delinquency (30 - 89 days past due)
Mortgage		$	11,474		$	10,313		$	9,830		$	11,431		$	10,822
Commercial		9,423			3,121			1,412			6,825			2,426

Consumer		15,000			13,093			12,129			14,281			13,485
Auto		170,075			152,732			128,619			170,013			161,025
Total		$	205,972		$	179,259		$	151,990		$	202,550		$	187,758
Early Delinquency Rates (30 - 89 days past due)
Mortgage		1.83		%	1.67		%	1.59		%	1.82		%	1.75		%
Commercial		0.29		%	0.09		%	0.05		%	0.23		%	0.08		%

Consumer		2.19		%	1.93		%	1.81		%	2.14		%	2.03		%
Auto		6.43		%	5.74		%	4.96		%	6.67		%	6.48		%
Total		2.84		%	2.46		%	2.19		%	2.95		%	2.78		%
Total Delinquency (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation		$	22,657		$	19,946		$	21,457		$	22,840		$	22,954
GNMA's buy-back option program	(22)	46,716			43,281			44,665			48,586			41,801
Total mortgage		69,373			63,227			66,122			71,426			64,755
Commercial		20,592			14,282			17,692			20,193			17,460

Consumer		18,942			16,839			15,611			18,471			17,094
Auto		185,964			167,653			142,662			190,068			178,003
Total		$	294,871		$	262,001		$	242,087		$	300,158		$	277,312
Total Delinquency Rates (30 days and over past due)
Mortgage:
Traditional, Non traditional, and Loans under Loss Mitigation		3.61		%	3.22		%	3.48		%	3.63		%	3.71		%
GNMA's buy-back option program	(22)	7.45		%	7.00		%	7.25		%	7.73		%	6.75		%
Total mortgage		11.06		%	10.22		%	10.73		%	11.36		%	10.46		%
Commercial		0.62		%	0.43		%	0.58		%	0.67		%	0.58		%

Consumer		2.76		%	2.48		%	2.33		%	2.77		%	2.58		%
Auto		7.03		%	6.30		%	5.50		%	7.46		%	7.17		%
Total		4.06		%	3.59		%	3.49		%	4.38		%	4.10		%
Nonperforming Assets	(14)
Mortgage		$	17,426		$	15,804		$	16,909		$	16,928		$	18,723
Commercial		53,428			54,003			44,150			38,913			36,099

Consumer		4,194			3,790			3,482			4,207			3,627
Auto		15,962			14,968			14,043			20,055			16,978
Total nonperforming loans		91,010			88,565			78,584			80,103			75,427
Foreclosed real estate		3,160			2,603			4,271			4,002			4,419
Other repossessed assets		4,865			4,760			6,656			6,595			6,969
Total nonperforming assets		$	99,035		$	95,928		$	89,511		$	90,700		$	86,815
Nonperforming Loan Rates
Mortgage		2.78		%	2.55		%	2.74		%	2.69		%	3.02		%
Commercial		1.62		%	1.62		%	1.44		%	1.29		%	1.20		%

Consumer		0.61		%	0.56		%	0.52		%	0.63		%	0.55		%
Auto		0.60		%	0.56		%	0.54		%	0.79		%	0.68		%
Total loans		1.25		%	1.21		%	1.13		%	1.17		%	1.11		%

OFG Bancorp (NYSE: OFG)

Table 6-3: Loan Information and Performance Statistics


		2025			2025			2025			2024			2024
(Dollars in thousands) (unaudited)		Q3			Q2			Q1			Q4			Q3
Nonperforming PCD Loans	(14)
Mortgage		$	230		$	233		$	234		$	239		$	241
Commercial		7,803			8,603			8,666			2,641			3,920

Total nonperforming loans		$	8,033		$	8,836		$	8,900		$	2,880		$	4,161
Nonperforming PCD Loan Rates
Mortgage		0.03		%	0.03		%	0.03		%	0.03		%	0.03		%
Commercial		9.43		%	9.92		%	9.87		%	2.98		%	3.29		%

Total		0.94		%	1.00		%	0.98		%	0.31		%	0.42		%
Total PCD Loans Held for Investment
Mortgage		$	772,808		$	795,863		$	819,271		$	841,964		$	864,491
Commercial		82,748			86,685			87,779			88,729			119,029
Consumer		337			575			595			598			560
Auto		119			160			281			460			664
Total loans		$	856,012		$	883,283		$	907,926		$	931,751		$	984,744




Total Nonperforming Loans	(14)
Mortgage		$	17,656		$	16,037		$	17,143		$	17,167		$	18,964
Commercial		61,231			62,606			52,816			41,554			40,019

Consumer		4,194			3,790			3,482			4,207			3,627
Auto		15,962			14,968			14,043			20,055			16,978
Total nonperforming loans		$	99,043		$	97,401		$	87,484		$	82,983		$	79,588
Total Nonperforming Loan Rates
Mortgage		1.26		%	1.13		%	1.19		%	1.17		%	1.28		%
Commercial		1.81		%	1.83		%	1.68		%	1.34		%	1.28		%

Consumer		0.61		%	0.56		%	0.52		%	0.63		%	0.55		%
Auto		0.60		%	0.56		%	0.54		%	0.79		%	0.68		%
Total		1.22		%	1.19		%	1.11		%	1.06		%	1.03		%
Total Loans Held for Investment
Mortgage		$	1,399,856		$	1,414,567		$	1,435,573		$	1,470,817		$	1,483,612
Commercial		3,384,404			3,423,434			3,153,060			3,103,091			3,118,381

Consumer		686,077			680,635			670,808			668,561			664,308
Auto		2,646,930			2,661,955			2,593,203			2,549,493			2,484,275
Total loans		$	8,117,267		$	8,180,591		$	7,852,644		$	7,791,962		$	7,750,576

(a) Refer to “(a)” in Table 1-1.

OFG Bancorp (NYSE: OFG)

Table 7: Allowance for Credit Losses


	Quarter Ended September 30, 2025
(Dollars in thousands) (unaudited)	Mortgage			Commercial			Consumer			Auto			Total
Allowance for credit losses Non-PCD:
Balance at beginning of period	$	5,684		$	51,586		$	32,822		$	92,673		$	182,765
Provision for (recapture of) credit losses	638			12,181			7,757			6,803			27,379
Charge-offs	—			(5,093)			(7,704)			(16,743)			(29,540)
Recoveries	171			922			896			7,108			9,097
Balance at end of period	$	6,493		$	59,596		$	33,771		$	89,841		$	189,701

Allowance for credit losses PCD:
Balance at beginning of period	$	3,683		$	3,482		$	10		$	4		$	7,179
Provision for (recapture of) credit losses	453			259			(11)			(34)			667
Charge-offs	—			(205)			—			(2)			(207)
Recoveries	281			118			10			33			442
Balance at end of period	$	4,417		$	3,654		$	9		$	1		$	8,081

Allowance for credit losses summary:
Balance at beginning of period	$	9,367		$	55,068		$	32,832		$	92,677		$	189,944
Provision for credit losses	1,091			12,440			7,746			6,769			28,046
Charge-offs	—			(5,298)			(7,704)			(16,745)			(29,747)
Recoveries	452			1,040			906			7,141			9,539
Balance at end of period	$	10,910		$	63,250		$	33,780		$	89,842		$	197,782
Allowance coverage ratio	0.78		%	1.87		%	4.92		%	3.39		%	2.44		%

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			2025			2025			2024			2024
(Dollars in thousands) (unaudited)	Q3			Q2			Q1			Q4			Q3
Stockholders' Equity to Non-GAAP Tangible Common Equity
Total stockholders' equity	$	1,375,417		$	1,334,453		$	1,295,361		$	1,254,371		$	1,318,132
Less: Intangible assets	(95,327)			(96,559)			(97,791)			(99,023)			(100,501)


Tangible common equity (Non-GAAP)	$	1,280,090		$	1,237,894		$	1,197,570		$	1,155,348		$	1,217,631

Common shares outstanding at end of period	44,265			44,742			44,924			45,440			46,559
Tangible book value per common share (Non-GAAP)	$	28.92		$	27.67		$	26.66		$	25.43		$	26.15
Total Assets to Non-GAAP Tangible Assets
Total assets	$	12,229,812		$	12,231,510		$	11,729,257		$	11,500,734		$	11,461,382
Less: Intangible assets	(95,327)			(96,559)			(97,791)			(99,023)			(100,501)
Tangible assets (Non-GAAP)	$	12,134,485		$	12,134,951		$	11,631,466		$	11,401,711		$	11,360,881
Non-GAAP TCE Ratio
Tangible common equity	$	1,280,090		$	1,237,894		$	1,197,570		$	1,155,348		$	1,217,631
Tangible assets	12,134,485			12,134,951			11,631,466			11,401,711			11,360,881
TCE ratio	10.55		%	10.20		%	10.30		%	10.13		%	10.72		%
Average Equity to Non-GAAP Average Tangible Common Equity
Average total stockholders' equity	$	1,361,055		$	1,318,886		$	1,290,888		$	1,304,779		$	1,280,760



Less: Average intangible assets	(95,756)			(96,983)			(98,229)			(99,558)			(101,042)
Average tangible common equity (Non-GAAP)	$	1,265,299		$	1,221,903		$	1,192,659		$	1,205,221		$	1,179,718

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			2025			2025			2024			2024
(Dollars in thousands) (unaudited)		Q3			Q2			Q1			Q4			Q3
Regulatory Capital Metrics
Common equity Tier 1 capital		$	1,313,558		$	1,293,041		$	1,261,662		$	1,256,906		$	1,260,944
Tier 1 capital		1,313,558			1,293,041			1,261,662			1,256,906			1,260,944
Total risk-based capital	(15)	1,430,713			1,409,447			1,373,004			1,367,692			1,371,041
Risk-weighted assets		9,298,556			9,245,125			8,843,043			8,812,422			8,772,207
Regulatory Capital Ratios
Common equity Tier 1 capital ratio	(16)	14.13		%	13.99		%	14.27		%	14.26		%	14.37		%
Tier 1 risk-based capital ratio	(17)	14.13		%	13.99		%	14.27		%	14.26		%	14.37		%
Total risk-based capital ratio	(18)	15.39		%	15.25		%	15.53		%	15.52		%	15.63		%
Leverage ratio	(19)	10.75		%	10.83		%	10.83		%	10.93		%	11.12		%

Common Equity Tier 1 Capital Ratio Under Basel III Standardized Approach
Total stockholders' equity		$	1,375,417		$	1,334,453		$	1,295,361		$	1,254,371		$	1,318,132
Plus: CECL transition adjustment	(20)	—			—			—			6,852			6,852


Plus: Unrealized losses on available-for-sale securities, net of income tax		27,301			48,782			58,001			89,839			32,990

Total adjusted stockholders’equity		1,402,718			1,383,235			1,353,362			1,351,062			1,357,974
Less: Disallowed goodwill, net		(79,889)			(80,079)			(80,742)			(82,355)			(84,241)
Disallowed other intangible assets, net		(9,271)			(10,115)			(10,958)			(11,801)			(12,789)

Common equity Tier 1 capital and Tier 1 capital		1,313,558			1,293,041			1,261,662			1,256,906			1,260,944




Plus Tier 2 capital: Qualifying allowance for credit losses		117,155			116,406			111,342			110,786			110,097
Total risk-based capital		$	1,430,713		$	1,409,447		$	1,373,004		$	1,367,692		$	1,371,041

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.