OFG Bancorp reported financial results for the third quarter ended September 30, 2026. Diluted earnings per share (EPS) were $1.33, compared to $1.39 in the prior quarter and $1.16 in the same period last year. Total core revenues for the quarter were $185.7 million, a decrease from $190.3 million in 2Q26 but an increase from $184.0 million in 3Q25.
Key performance metrics for 3Q26 included a net interest margin of 5.23%, a return on average assets of 1.86%, a return on average tangible common stockholders’ equity of 17.06%, and an efficiency ratio of 51.83%. Total interest income was $195.7 million, down $1.4 million sequentially, while total interest expense increased to $42.2 million, up $2.3 million from the previous quarter.
The company reported total provisions for credit losses of $18.1 million, primarily driven by increased loan volume and a seasonal adjustment for auto delinquency. On the balance sheet, loans held for investment ended the period at $8.45 billion, a sequential increase of 1.8%, while customer deposits decreased by $79.9 million to $9.66 billion. Total assets were reported at $12.17 billion.
Capital ratios at period end included a Common Equity Tier 1 (CET1) ratio of 14.10% and a tangible common equity ratio of 10.34%. During the quarter, OFG Bancorp repurchased $13.5 million of common shares. Credit quality metrics showed early and total delinquency rates of 2.65% and 3.91%, respectively, while net charge-offs and nonperforming loan rates were 0.70% and 0.74%.
