OFG Bancorp Maintains Dividend at $0.35 per Share After January Increase
Key Facts
The company announced the increase on January 28, 2026, and designated it for the quarter ending March 31 of that year. The announced payment date was April 15, for shareholders of record on March 31. The available information therefore does not support the account of a new increase in the initial draft. The third-quarter results provide separate context on the bank's performance during the period.
OFG reported diluted earnings per share of $1.33 in the third quarter of 2026, compared with $1.39 in the second quarter and $1.16 in the third quarter of 2025. That marked a decline from the previous quarter, while earnings remained above their level a year earlier. Core revenue was $185.7 million, versus $190.3 million in the second quarter and $184.0 million a year earlier. On a year-over-year basis, the company said earnings per share rose 14.7% and core revenue increased 1.0%.
Net interest margin was 5.23% in the third quarter, while return on average assets was 1.86% and return on average tangible common equity was 17.06%. On the balance sheet, loans held for investment reached $8.45 billion at quarter-end, up 1.8% from the previous quarter and 4.1% from the same period last year. But new loan production was $693.8 million, down from $755.0 million in the second quarter and above $623.9 million in the third quarter of 2025. The figures show year-over-year growth in the loan balance, alongside a decline in production from the previous period.
By contrast, customer deposits were $9.66 billion at the end of the third quarter, compared with $9.74 billion in the second quarter and $9.82 billion a year earlier. OFG said deposits fell $79.9 million, or 0.8%, quarter over quarter. On credit quality, early-stage and total delinquency rates rose to 2.65% and 3.91%, respectively, from the previous quarter, which the company attributed to seasonal factors. It said both rates declined year over year, while net charge-off and nonperforming loan ratios fell to 0.70% and 0.74%, respectively, compared with the previous quarter and the same period a year earlier.
CEO José Rafael Fernández attributed the company's results to "continued momentum in commercial loan growth, stable credit quality and core deposit balances, and expense management discipline." He added that the company repurchased $13.5 million of common stock in the third quarter. OFG said Puerto Rico's economy remained stable, supported by a healthy labor market and continued expansion by local and U.S. companies on the island. On October 21, 2026, the company announced a call to discuss third-quarter results, its outlook and related matters at 10:00 a.m. Eastern Time.