Form 8-K

8-K — OFG BANCORP

Accession: 0001030469-26-000034

Filed: 2026-07-21

Period: 2026-07-21

CIK: 0001030469

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ofg-20260721.htm (Primary)

EX-99 (ofg-20262qexx99.htm)

GRAPHIC (ofg_colororange.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ofg-20260721.htm · Sequence: 1

ofg-20260721

0001030469FALSE00010304692026-07-212026-07-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 21, 2026

________________

OFG BANCORP

(Exact name of registrant as specified in its charter)

________________

Commonwealth of Puerto Rico

001-12647 66-0538893

(State or other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

Oriental Center, 15th Floor

254 Munoz Rivera Avenue

San Juan, Puerto Rico

00918

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (787) 771-6800

Not applicable

(Former name or former address, if changed since last report)

________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common shares, par value $1.00 per share OFG New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On July 21, 2026, OFG Bancorp (the “Company”) announced the results for the quarter ended June 30, 2026. A copy of the Company’s press release is attached as an exhibit to this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description of Document

Press release by the Company dated July 21, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

OFG BANCORP

Date: July 21, 2026

By: /s/ Maritza Arizmendi

Maritza Arizmendi

Chief Financial Officer

EX-99

Filename: ofg-20262qexx99.htm · Sequence: 2

Document

Exhibit 99

OFG Bancorp Reports 2Q26 Results

SAN JUAN, Puerto Rico, July 21, 2026 – OFG Bancorp (NYSE: OFG), the financial holding company for Oriental Bank, today reported results for the second quarter ended June 30, 2026. EPS diluted of $1.39 compared to $1.26 in 1Q26 and $1.15 in 2Q25. Total core revenues of $190.3 million compared to $185.8 million in 1Q26 and $182.2 million in 2Q25.

CEO Comment

José Rafael Fernández, Chief Executive Officer, said: “With year-over-year increases of 20.9% in EPS and 4.5% in core revenues, second quarter results reflected continued momentum across all our businesses, supported by disciplined execution, excellent customer engagement, and our differentiated operating model. We continue to show core deposit strength, consistent loan growth, stable credit trends, and effective balance sheet management.”

“During 2Q26, Oriental launched a branding-marketing campaign reflecting our evolution to a digital bank with a human touch. The campaign highlights our market-leading banking and customer communication technologies in Puerto Rico combined with our people and intensely customer-focused culture. This sets us apart and reinforces our mission to help customers achieve progress. They are the point of everything we do.”

“On a macro level, the Puerto Rico economy remains stable, with federal reconstruction funds continuing to flow, a strong labor market, and private sector manufacturing and onshoring investment. With the economy as a tailwind, our operational strength, disciplined execution, and focus on the customer experience positions us well to capitalize on long-term growth opportunities.”

2Q26 Highlights

Performance Metrics: Net interest margin of 5.45%, return on average assets of 1.93%, return on average tangible common stockholders’ equity of 17.94%, and efficiency ratio of 54.04%.

Total Interest Income of $197.2 million compared to $194.1 million in 1Q26 and $194.3 million in 2Q25. 2Q26 increased $3.0 million sequentially, primarily reflecting higher average balances of loans at higher average rates, $4.1 million from three paid in full commercial loans compared to $3.3 million from another paid in full commercial loan in 1Q26, and one additional business day, which increased interest income by approximately $1.6 million.

Total Interest Expense of $39.9 million compared to $40.3 million in 1Q26 and $42.4 million in 2Q25. 2Q26 decreased $0.5 million sequentially, primarily reflecting lower average balances of borrowings and brokered deposits, which more than offset the additional expense of higher average balances of core deposits, and one additional business day, which increased interest expense by approximately $0.4 million.

Total Banking & Financial Service Revenues of $33.0 million compared to $32.0 million in 1Q26 and $30.2 million in 2Q25. 2Q26 increased $1.0 million sequentially, reflecting higher banking service and wealth management revenues, which included $1.1 million in insurance and annuity fees, and lower mortgage banking revenues.

Pre-Provision Net Revenues of $87.5 million compared to $91.3 million in 1Q26 and $87.6 million in 2Q25.

Total Provision for Credit Losses of $13.0 million compared to $22.5 million in 1Q26 and $21.7 million in 2Q25. 2Q26 primarily reflected $14.7 million for increased loan volume and $1.9 million in commercial loan recoveries, while 1Q26 included $17.5 million for increased loan volume and increased allowance of $3.7 million for a previously reserved telecom loan and $1.0 million for newly classified small commercial loans.

Credit Quality: Net charge-offs of $28.8 million (1.40% of average loans) compared to $21.4 million (1.05%) in 1Q26 and $12.8 million (0.64%) in 2Q25, and non-performing loans of $67.3 million (0.81% of average loans) compared to $120.9 million (1.47%) in 1Q26 and $97.4 million (1.19%) in 2Q25. The changes in 2Q26 NCOs and NPLs primarily reflected the sales of the above-mentioned telecom loan and a U.S. commercial loan.

Total Non-Interest Expense of $102.8 million compared to $94.7 million in 1Q26 and $94.8 million in 2Q25. 2Q26 included $5.8 million in business related operational charges, while 1Q26 included $1.0 million in capital markets readiness and registration expenses and the benefit of $3.6 million in a business related volume incentive payment.

Income Tax Expense was $15.7 million compared to $14.9 million in 1Q26 and $14.1 million in 2Q25. 2Q26 ETR reflected an anticipated rate of 22.64% for the year plus the benefit of some discrete items.

Loans Held for Investment (EOP) of $8.30 billion compared to $8.24 billion in 1Q26 and $8.18 billion in 2Q25. 2Q26 balances grew $62.4 million or 0.8% sequentially, reflecting increases in Puerto Rico commercial and consumer loans.

New Loan Production of $755.0 million compared to $608.9 million in 1Q26 and $783.7 million in 2Q25. 2Q26 production grew $146.2 million or 24.0% sequentially, reflecting increases in Puerto Rico commercial, residential mortgage, and consumer loans. Production declined 3.7% year-over-year, reflecting unusually strong auto sales in 2Q25 due to the threat of tariffs.

Total Investments (EOP) of $2.70 billion compared to $2.79 billion in 1Q26 and $2.78 billion in 2Q25. 2Q26 primarily reflected principal paydowns in mortgage backed securities.

Customer Deposits (EOP) of $9.74 billion compared to $9.66 billion in 1Q26 and $9.90 billion in 2Q25. 2Q26 deposits increased $84.9 million or 0.9% sequentially, reflecting government, commercial and retail deposit growth.

Total Borrowings & Brokered Deposits (EOP) of $795.5 million compared to $746.6 million in 1Q26 and $732.3 million in 2Q25. 2Q26 total borrowings and brokered deposits increased $48.9 million sequentially for liquidity management purposes.

Cash & Cash Equivalents (EOP) of $745.7 million compared to $636.5 million in 1Q26 and $851.8 million in 2Q25. 2Q26 cash increased $109.2 million sequentially primarily due to deposit growth and repayments from the investment portfolio.

Capital: CET1 ratio was 14.07% compared to 13.75% in 1Q26 and 13.99% in 2Q25. Tangible Common Equity ratio was 10.90% compared to 10.66% in 1Q26 and 10.20% in 2Q25. Tangible Book Value per share was $31.12 compared to $30.14 in 1Q26 and $27.67 in 2Q25.

Conference Call, Financial Supplement & Presentation

A conference call to discuss 2Q26 results, outlook and related matters will be held today at 10:00 AM ET. Phone (800) 579-2543 or (785) 424-1789. Conference ID: OFGQ226. 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 June 30, 2026, and the 2Q26 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, 2025, 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 62nd 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.

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 June 30, 2026 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

Table 2:

Consolidated Statements of Operations

Table 3:

Consolidated Statements of Financial Condition

Table 4:

Information on Loan Portfolio and Production

Table 5:

Average Balances, Net Interest Income and Net Interest Margin

Table 6:

Loan Information and Performance Statistics

Table 7:

Allowance for Credit Losses

Table 8:

Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital

Table 9:

Notes to Financial Summary, Selected Metrics, Loans, and Consolidated Financial Statements (Tables 1-8)

OFG Bancorp (NYSE: OFG)

Table 1-1: Financial and Statistical Summary - Consolidated

2026

2025

(Dollars in thousands, except per share data) (unaudited)

Statement of Operations

Net interest income $ 157,299 $ 153,813 $ 152,744 $ 154,724 $ 151,928

Non-interest income, net (core) (1) 32,984 31,988 32,627 29,256 30,247

Total core revenues (2) 190,283 185,801 185,371 183,980 182,175

Non-interest expense 102,832 94,703 105,011 96,548 94,802

Pre-provision net revenues (20) 87,490 91,277 79,309 89,629 87,557

Total provision for credit losses 13,006 22,483 31,889 28,258 21,678

Net income before income taxes 74,484 68,794 47,420 61,371 65,879

Income tax expense (benefit) 15,707 14,857 (8,473) 9,533 14,078

Net income available to common stockholders 58,777 53,937 55,893 51,838 51,801

Common Share Statistics

Earnings per common share - basic (3) $ 1.39 $ 1.26 $ 1.28 $ 1.17 $ 1.15

Earnings per common share - diluted (4) $ 1.39 $ 1.26 $ 1.27 $ 1.16 $ 1.15

Average common shares outstanding 42,261 42,786 43,649 44,430 44,854

Average common shares outstanding and equivalents 42,397 42,956 43,901 44,658 45,033

Cash dividends per common share $ 0.35 $ 0.35 $ 0.30 $ 0.30 $ 0.30

Book value per common share (period end) $ 33.30 $ 32.35 $ 32.13 $ 31.07 $ 29.83

Tangible book value per common share (period end) (5) $ 31.12 $ 30.14 $ 29.96 $ 28.92 $ 27.67

Balance Sheet (Average Balances)

Loans (6) $ 8,245,654 $ 8,167,438 $ 8,117,032 $ 8,098,058 $ 7,963,890

Interest-earning assets 11,582,521 11,633,354 11,827,933 11,715,599 11,466,602

Total assets 12,154,691 12,138,944 12,377,910 12,248,544 11,958,502

Core deposits 9,705,480 9,560,640 9,930,939 9,866,369 9,736,301

Total deposits 9,921,807 9,829,019 10,161,728 10,086,731 9,963,960

Interest-bearing deposits 7,172,785 7,171,589 7,541,276 7,498,818 7,382,083

Borrowings 579,724 660,300 555,820 548,832 444,820

Stockholders' equity 1,403,137 1,406,938 1,394,097 1,361,055 1,318,886

Performance Metrics

Net interest margin (7) 5.45 % 5.36 % 5.12 % 5.24 % 5.31 %

Return on average assets (8) 1.93 % 1.78 % 1.81 % 1.69 % 1.73 %

Return on average tangible common stockholders' equity (9) 17.94 % 16.43 % 17.20 % 16.39 % 16.96 %

Efficiency ratio (10) 54.04 % 50.97 % 56.65 % 52.48 % 52.04 %

Full-time equivalent employees, period end 2,185 2,181 2,185 2,217 2,222

Credit Quality Metrics

Allowance for credit losses $ 188,255 $ 203,956 $ 202,341 $ 197,782 $ 189,944

Allowance as a % of loans held for investment 2.27 % 2.48 % 2.47 % 2.44 % 2.32 %

Net charge-offs $ 28,791 $ 21,379 $ 26,873 $ 20,208 $ 12,784

Net charge-off rate (11) 1.40 % 1.05 % 1.32 % 1.00 % 0.64 %

Early delinquency rate (30 - 89 days past due) 2.51 % 2.21 % 2.80 % 2.84 % 2.46 %

Total delinquency rate (30 days and over) 3.68 % 3.40 % 4.18 % 4.06 % 3.59 %

Capital Ratios (period end) (Non-GAAP) (12)

Leverage ratio 11.23 % 10.88 % 10.71 % 10.75 % 10.83 %

Common equity Tier 1 capital ratio 14.07 % 13.75 % 13.97 % 14.13 % 13.99 %

Tier 1 risk-based capital ratio 14.07 % 13.75 % 13.97 % 14.13 % 13.99 %

Total risk-based capital ratio 15.33 % 15.01 % 15.24 % 15.39 % 15.25 %

Tangible common equity ("TCE") ratio 10.90 % 10.66 % 10.47 % 10.55 % 10.20 %

OFG Bancorp (NYSE: OFG)

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

Six-month period ended June 30,

(Dollars in thousands, except per share data) (unaudited) 2026 2025

Statement of Operations

Net interest income $ 311,112 $ 300,999

Non-interest income, net (core) (1) 64,972 59,459

Total core revenues (2) 376,084 360,458

Non-interest expense 197,535 188,254

Pre-provision net revenues (21) 178,767 172,693

Total provision for credit losses 35,489 47,366

Net income before income taxes 143,278 125,327

Income tax expense 30,564 27,954

Net income available to common stockholders 112,714 97,373

Common Share Statistics

Earnings per common share - basic (3) $ 2.65 $ 2.16

Earnings per common share - diluted (4) $ 2.64 $ 2.15

Average common shares outstanding 42,522 45,074

Average common shares outstanding and equivalents 42,645 45,265

Cash dividends per common share $ 0.70 $ 0.60

Book value per common share (period end) $ 33.30 $ 29.83

Tangible book value per common share (period end) (5) $ 31.12 $ 27.67

Balance Sheet (Average Balances)

Loans (6) $ 8,206,763 $ 7,874,819

Interest-earning assets 11,607,798 11,310,263

Total assets 12,146,861 11,808,855

Core deposits 9,633,463 9,680,351

Total deposits 9,875,672 9,873,483

Interest-bearing deposits 7,172,190 7,311,562

Borrowings 619,789 401,981

Stockholders' equity 1,405,027 1,304,964

Performance Metrics

Net interest margin (7) 5.40 % 5.37 %

Return on average assets (8) 1.86 % 1.65 %

Return on average tangible common stockholders' equity (9) 17.18 % 16.13 %

Efficiency ratio (10) 52.52 % 52.23 %

Full-time equivalent employees, period end 2,185 2,222

Credit Quality Metrics

Allowance for credit losses $ 188,255 $ 189,944

Allowance as a % of loans held for investment 2.27 % 2.32 %

Net charge-offs $ 50,170 $ 33,154

Net charge-off rate (11) 1.22 % 0.84 %

Early delinquency rate (30 - 89 days past due) 2.51 % 2.46 %

Total delinquency rate (30 days and over) 3.68 % 3.59 %

OFG Bancorp (NYSE: OFG)

Table 2-1: Consolidated Statements of Operations

Quarter Ended

(Dollars in thousands) (unaudited) June 30, 2026 March 31, 2026 December 31,

2025 September 30,

2025 June 30,

2025

Interest income:

Loans

Non-PCD loans $ 146,862 $ 142,211 $ 144,385 $ 146,665 $ 141,797

PCD loans 15,553 16,343 13,826 14,669 15,190

Total interest income from loans 162,415 158,554 158,211 161,334 156,987

Investment securities and cash 34,735 35,572 39,011 38,811 37,360

Total interest income 197,150 194,126 197,222 200,145 194,347

Interest expense:

Deposits

Core deposits 31,960 31,196 36,482 37,458 35,529

Brokered deposits 2,164 2,672 2,352 2,284 2,350

Total deposits 34,124 33,868 38,834 39,742 37,879

Borrowings 5,727 6,445 5,644 5,679 4,540

Total interest expense 39,851 40,313 44,478 45,421 42,419

Net interest income 157,299 153,813 152,744 154,724 151,928

Provision for credit losses, excluding PCD loans 14,825 22,942 33,643 27,591 21,010

(Recapture of) provision for credit losses on PCD loans (1,819) (459) (1,754) 667 668

Total provision for credit losses 13,006 22,483 31,889 28,258 21,678

Net interest income after provision for credit losses 144,293 131,330 120,855 126,466 130,250

Non-interest income:

Banking service revenues 17,397 16,944 16,550 15,930 15,982

Wealth management revenues 9,727 8,913 11,378 9,014 8,918

Mortgage banking activities 5,860 6,131 4,699 4,312 5,347

Total banking and financial service revenues 32,984 31,988 32,627 29,256 30,247

Other income (loss), net 39 179 (1,051) 2,197 184

Total non-interest income, net 33,023 32,167 31,576 31,453 30,431

Non-interest expense:

Compensation and employee benefits 41,176 41,347 43,093 39,836 39,565

Occupancy, equipment and infrastructure costs 14,273 13,418 15,338 14,994 14,629

General and administrative expenses 47,859 40,052 46,371 42,239 40,298

Foreclosed real estate and other repossessed assets (income) expenses, net (476) (114) 209 (521) 310

Total non-interest expense 102,832 94,703 105,011 96,548 94,802

Income before income taxes 74,484 68,794 47,420 61,371 65,879

Income tax expense (benefit) 15,707 14,857 (8,473) 9,533 14,078

Net income available to common shareholders $ 58,777 $ 53,937 $ 55,893 $ 51,838 $ 51,801

OFG Bancorp (NYSE: OFG)

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

(Dollars in thousands) (unaudited) Six-month period ended June 30,

2026 2025

Interest income:

Loans

Non-PCD loans $ 289,073 $ 279,487

PCD loans 31,896 30,908

Total interest income from loans 320,969 310,395

Investment securities and cash 70,307 73,174

Total interest income 391,276 383,569

Interest expense:

Deposits

Core deposits 63,156 70,174

Brokered deposits 4,836 3,997

Total deposits 67,992 74,171

Borrowings 12,172 8,399

Total interest expense 80,164 82,570

Net interest income 311,112 300,999

Provision for credit losses, excluding PCD loans 37,767 45,820

Provision for (recapture of) credit losses on PCD loans (2,278) 1,546

Total provision for credit losses 35,489 47,366

Net interest income after provision for credit losses 275,623 253,633

Non-interest income:

Banking service revenues 34,341 31,963

Wealth management revenues 18,640 17,373

Mortgage banking activities 11,991 10,123

Total banking and financial service revenues 64,972 59,459

Other income, net 218 489

Total non-interest income, net 65,190 59,948

Non-interest expense:

Compensation and employee benefits 82,523 79,497

Occupancy, equipment and infrastructure costs 27,691 29,449

General and administrative expenses 87,911 77,970

Foreclosed real estate and other repossessed assets (income) expenses, net (590) 1,338

Total non-interest expense 197,535 188,254

Income before income taxes 143,278 125,327

Income tax expense 30,564 27,954

Net income available to common shareholders $ 112,714 $ 97,373

OFG Bancorp (NYSE: OFG)

Table 3: Consolidated Statements of Financial Condition

(Dollars in thousands) (unaudited) June 30, 2026

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

Cash and cash equivalents $ 745,706 $ 636,499 $ 1,040,335 $ 740,349 $ 851,798

Investments:

Trading securities 23 24 23 21 18

Investment securities available-for-sale, at fair value, no allowance for credit losses for any period

Mortgage-backed securities 2,370,468 2,457,541 2,508,730 2,564,831 2,406,956

US treasury securities

2,150 2,131 1,651 1,635 1,399

Other investment securities 500 500 501 503 519

Total investment securities available-for-sale 2,373,118 2,460,172 2,510,882 2,566,969 2,408,874

Investment securities held-to-maturity, at amortized cost, no allowance for credit losses for any period

Mortgage-backed securities 258,698 264,580 269,498 275,116 281,186

Other investment securities — — — 35,000 35,000

Total investment securities held-to-maturity 258,698 264,580 269,498 310,116 316,186

Equity securities 64,817 63,682 62,738 61,906 59,556

Total investments 2,696,656 2,788,458 2,843,141 2,939,012 2,784,634

Loans, net 8,117,021 8,040,074 8,014,246 7,935,413 8,009,599

Other assets:

Prepaid expenses 25,687 17,050 20,415 150,461 119,766

Deferred tax asset, net 113,343 120,431 104,359 7,468 7,048

Foreclosed real estate and repossessed properties 5,870 6,347 5,947 8,025 7,363

Premises and equipment, net 95,601 92,731 93,554 100,760 102,095

Goodwill 84,241 84,241 84,241 84,241 84,241

Other intangibles 7,884 8,869 9,854 11,086 12,318

Right of use assets 19,640 20,275 21,261 22,694 17,284

Servicing asset 67,867 67,228 66,333 67,437 68,588

Accounts receivable and other assets 175,056 165,700 161,971 162,866 166,776

Total assets $ 12,154,572 $ 12,047,903 $ 12,465,657 $ 12,229,812 $ 12,231,510

Deposits:

Demand deposits $ 4,887,404 $ 5,347,977 $ 5,799,985 $ 5,791,959 $ 5,801,400

Savings accounts 2,358,067 2,367,531 2,259,980 2,208,212 2,131,076

Time deposits 2,498,777 1,943,866 1,862,793 1,819,397 1,963,336

Brokered deposits 238,880 189,898 339,994 189,065 248,353

Total deposits 9,983,128 9,849,272 10,262,752 10,008,633 10,144,165

Borrowings:

Securities sold under agreements to repurchase 100,085 100,086 100,714 100,791 27,463

Advances from FHLB and other borrowings 456,530 456,581 456,590 456,530 456,530

Total borrowings 556,615 556,667 557,304 557,321 483,993

Other liabilities:

Acceptances outstanding 19,418 22,665 22,442 29,975 27,572

Lease liability 21,376 22,088 23,157 24,681 19,354

GNMA buy-back option program liability (21) 52,938 54,358 56,492 46,716 43,281

Deferred tax liability, net

615 337 — 50,298 48,374

Accrued expenses and other liabilities 113,210 175,621 153,505 136,771 130,318

Total liabilities 10,747,300 10,681,008 11,075,652 10,854,395 10,897,057

Stockholders' equity:

Common stock 59,885 59,885 59,885 59,885 59,885

Additional paid-in capital 642,019 640,656 642,973 641,350 639,901

Legal surplus 199,429 193,787 188,490 183,614 178,834

Retained earnings 976,946 938,349 904,630 866,826 833,187

Treasury stock, at cost (432,061) (432,209) (389,067) (348,957) (328,572)

Accumulated other comprehensive loss, net (38,946) (33,573) (16,906) (27,301) (48,782)

Total stockholders' equity 1,407,272 1,366,895 1,390,005 1,375,417 1,334,453

Total liabilities and stockholders' equity $ 12,154,572 $ 12,047,903 $ 12,465,657 $ 12,229,812 $ 12,231,510

OFG Bancorp (NYSE: OFG)

Table 4-1: Information on Loan Portfolio and Production

(Dollars in thousands) (unaudited)

June 30, 2026

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

Non-PCD:

Mortgage, excluding GNMA buy-back option program $ 604,990 $ 588,642 $ 582,563 $ 580,332 $ 575,423

Mortgage GNMA buy-back option program (21) 52,938 54,358 56,492 46,716 43,281

Commercial PR 2,679,280 2,611,166 2,586,305 2,469,925 2,511,495

Commercial US 871,454 871,640 829,975 831,731 825,254

Consumer 686,883 677,535 683,246 685,740 680,060

Auto 2,623,762 2,630,422 2,636,890 2,646,811 2,661,795

7,519,307 7,433,763 7,375,471 7,261,255 7,297,308

Less: Allowance for credit losses (184,747) (200,111) (198,239) (189,701) (182,765)

Total non-PCD loans held for investment, net 7,334,560 7,233,652 7,177,232 7,071,554 7,114,543

PCD:

Mortgage 709,278 730,629 751,291 772,808 795,863

Commercial PR 68,487 70,290 73,889 82,748 86,685

Consumer 316 306 302 337 575

Auto 66 75 89 119 160

778,147 801,300 825,571 856,012 883,283

Less: Allowance for credit losses (3,508) (3,845) (4,102) (8,081) (7,179)

Total PCD loans held for investment, net 774,639 797,455 821,469 847,931 876,104

Total loans held for investment 8,109,199 8,031,107 7,998,701 7,919,485 7,990,647

Mortgage loans held for sale 7,822 8,967 12,483 9,680 14,590

Other loans held for sale — — 3,062 6,248 4,362

Total loans, net $ 8,117,021 $ 8,040,074 $ 8,014,246 $ 7,935,413 $ 8,009,599

Loan Portfolio Summary:

Loans held for investment:

Mortgage, excluding GNMA buy-back option program $ 1,314,268 $ 1,319,271 $ 1,333,854 $ 1,353,140 $ 1,371,286

Mortgage GNMA buy-back option program (21) 52,938 54,358 56,492 46,716 43,281

Commercial PR 2,747,767 2,681,456 2,660,194 2,552,673 2,598,180

Commercial US 871,454 871,640 829,975 831,731 825,254

Consumer 687,199 677,841 683,548 686,077 680,635

Auto 2,623,828 2,630,497 2,636,979 2,646,930 2,661,955

8,297,454 8,235,063 8,201,042 8,117,267 8,180,591

Less: Allowance for credit losses (188,255) (203,956) (202,341) (197,782) (189,944)

Total loans held for investment, net 8,109,199 8,031,107 7,998,701 7,919,485 7,990,647

Mortgage loans held for sale 7,822 8,967 12,483 9,680 14,590

Other loans held for sale — — 3,062 6,248 4,362

Total loans, net $ 8,117,021 $ 8,040,074 $ 8,014,246 $ 7,935,413 $ 8,009,599

OFG Bancorp (NYSE: OFG)

Table 4-2: Information on Loan Portfolio and Production

Quarter Ended Six-month period ended June 30,

(Dollars in thousands) (unaudited) June 30, 2026

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

2026 2025

Loan production (13)

Mortgage $ 55,565 $ 41,948 $ 44,593 $ 42,392 $ 55,575 $ 97,513 $ 92,589

Commercial PR 333,408 200,441 201,974 216,560 253,874 533,849 417,106

Commercial US 95,335 102,733 111,896 116,368 147,193 198,068 205,132

Consumer 82,287 68,481 68,204 76,027 76,757 150,768 144,616

Auto 188,440 195,256 178,928 172,558 250,269 383,696 483,166

Total $ 755,035 $ 608,859 $ 605,595 $ 623,905 $ 783,668 $ 1,363,894 $ 1,342,609

OFG Bancorp (NYSE: OFG)

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

2026 Q2

2026 Q1

2025 Q4

2025 Q3

2025 Q2

(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 $ 615,369 $ 5,493 3.58 % $ 660,529 $ 5,855 3.59 % $ 803,931 $ 7,898 3.90 % $ 784,978 $ 8,555 4.32 % $ 746,356 $ 8,078 4.34 %

Investment securities 2,721,498 29,242 4.30 % 2,805,387 29,717 4.24 % 2,906,970 31,113 4.28 % 2,832,563 30,256 4.27 % 2,756,356 29,282 4.25 %

Loans held for investment

Non-PCD loans 7,460,999 146,862 7.90 % 7,356,900 142,211 7.84 % 7,272,783 144,385 7.88 % 7,228,920 146,665 8.05 % 7,067,367 141,797 8.05 %

PCD loans 784,655 15,553 7.93 % 810,538 16,343 8.07 % 844,249 13,826 6.55 % 869,138 14,669 6.75 % 896,523 15,190 6.78 %

Total loans 8,245,654 162,415 7.90 % 8,167,438 158,554 7.87 % 8,117,032 158,211 7.73 % 8,098,058 161,334 7.90 % 7,963,890 156,987 7.91 %

Total interest-earning assets $ 11,582,521 $ 197,150 6.83 % $ 11,633,354 $ 194,126 6.77 % $ 11,827,933 $ 197,222 6.62 % $ 11,715,599 $ 200,145 6.78 % $ 11,466,602 $ 194,347 6.80 %

Interest bearing liabilities:

Deposits

NOW accounts $ 2,503,812 $ 8,786 1.41 % $ 2,711,262 $ 10,093 1.51 % $ 3,211,013 $ 14,976 1.85 % $ 3,208,598 $ 15,941 1.97 % $ 3,211,382 $ 15,451 1.93 %

Savings accounts 2,345,584 6,281 1.07 % 2,319,764 6,391 1.12 % 2,258,856 6,450 1.13 % 2,215,538 6,212 1.11 % 2,119,036 5,175 0.98 %

Time deposits 2,107,062 16,138 3.07 % 1,872,184 13,957 3.02 % 1,840,618 14,113 3.04 % 1,854,320 14,362 3.07 % 1,824,006 13,960 3.07 %

Brokered deposits 216,327 2,164 4.01 % 268,379 2,672 4.04 % 230,789 2,352 4.04 % 220,362 2,284 4.11 % 227,659 2,350 4.14 %

7,172,785 33,369 1.87 % 7,171,589 33,113 1.87 % 7,541,276 37,891 1.99 % 7,498,818 38,799 2.05 % 7,382,083 36,936 2.01 %

Non-interest bearing deposit accounts 2,749,022 — — 2,657,430 — — 2,620,452 — — 2,587,913 — — 2,581,877 — —

Fair value premium and core deposit intangible amortization — 755 — — 755 — — 943 — — 943 — — 943 —

Total deposits 9,921,807 34,124 1.38 % 9,829,019 33,868 1.40 % 10,161,728 38,834 1.52 % 10,086,731 39,742 1.56 % 9,963,960 37,879 1.52 %

Borrowings

Securities sold under agreements to repurchase 122,685 1,074 3.51 % 204,480 1,855 3.68 % 100,000 951 3.77 % 93,028 986 4.21 % 10,517 120 4.56 %

Advances from FHLB and other borrowings 457,039 4,653 4.08 % 455,820 4,590 4.08 % 455,820 4,693 4.08 % 455,804 4,693 4.08 % 434,303 4,420 4.08 %

Total borrowings 579,724 5,727 3.96 % 660,300 6,445 3.96 % 555,820 5,644 4.03 % 548,832 5,679 4.10 % 444,820 4,540 4.09 %

Total liabilities

$ 10,501,531 $ 39,851 1.52 % $ 10,489,319 $ 40,313 1.56 % $ 10,717,548 $ 44,478 1.65 % $ 10,635,563 $ 45,421 1.69 % $ 10,408,780 $ 42,419 1.63 %

Interest rate spread $ 157,299 5.31 % $ 153,813 5.21 % $ 152,744 4.97 % $ 154,724 5.09 % $ 151,928 5.17 %

Net interest margin 5.45 % 5.36 % 5.12 % 5.24 % 5.31 %

Core deposits: (Non-GAAP)

NOW accounts $ 2,503,812 $ 8,786 1.41 % $ 2,711,262 $ 10,093 1.51 % $ 3,211,013 $ 14,976 1.85 % $ 3,208,598 $ 15,941 1.97 % $ 3,211,382 $ 15,451 1.93 %

Savings accounts 2,345,584 6,281 1.07 % 2,319,764 6,391 1.12 % 2,258,856 6,450 1.13 % 2,215,538 6,212 1.11 % 2,119,036 5,175 0.98 %

Time deposits 2,107,062 16,138 3.07 % 1,872,184 13,957 3.02 % 1,840,618 14,113 3.04 % 1,854,320 14,362 3.07 % 1,824,006 13,960 3.07 %

6,956,458 31,205 1.80 % 6,903,210 30,441 1.79 % 7,310,487 35,539 1.93 % 7,278,456 36,515 1.99 % 7,154,424 34,586 1.94 %

Non-interest bearing deposit accounts 2,749,022 — — 2,657,430 — — 2,620,452 — — 2,587,913 — — 2,581,877 — —

Total core deposits $ 9,705,480 $ 31,205 1.29 % $ 9,560,640 $ 30,441 1.29 % $ 9,930,939 $ 35,539 1.42 % $ 9,866,369 $ 36,515 1.47 % $ 9,736,301 $ 34,586 1.42 %

Total borrowings and brokered deposits: (Non-GAAP)

Total borrowings

$ 579,724 $ 5,727 3.96 % $ 660,300 $ 6,445 3.96 % $ 555,820 $ 5,644 4.03 % $ 548,832 $ 5,679 4.10 % $ 444,820 $ 4,540 4.09 %

Brokered deposits

216,327 2,164 4.01 % 268,379 2,672 4.04 % 230,789 2,352 4.04 % 220,362 2,284 4.11 % 227,659 2,350 4.14 %

Total borrowings and brokered deposits

$ 796,051 $ 7,891 3.98 % $ 928,679 $ 9,117 3.98 % $ 786,609 $ 7,996 4.03 % $ 769,194 $ 7,963 4.11 % $ 672,479 $ 6,890 4.11 %

OFG Bancorp (NYSE: OFG)

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

Six-month period ended June 30,

2026 2025

(Dollars in thousands) (unaudited) Average

Balance Interest

Income/

Expense Yield/

Rate Average

Balance Interest

Income/

Expense Yield/

Rate

Interest earning assets:

Cash equivalents $ 637,824 $ 11,348 3.59 % $ 670,264 $ 14,393 4.33 %

Investment securities 2,763,211 58,959 4.27 % 2,765,180 58,781 4.25 %

Loans held for investment

Non-PCD loans 7,409,238 289,073 7.87 % 6,966,335 279,487 8.09 %

PCD loans 797,525 31,896 8.00 % 908,484 30,908 6.80 %

Total loans 8,206,763 320,969 7.89 % 7,874,819 310,395 7.95 %

Total interest-earning assets $ 11,607,798 $ 391,276 6.80 % $ 11,310,263 $ 383,569 6.84 %

Interest bearing liabilities:

Deposits

NOW accounts $ 2,606,964 $ 18,879 1.46 % $ 3,202,286 $ 30,347 1.91 %

Savings accounts 2,332,745 12,672 1.10 % 2,106,304 10,202 0.98 %

Time deposits 1,990,272 30,096 3.05 % 1,809,840 27,738 3.09 %

Brokered deposits 242,209 4,836 4.03 % 193,132 3,997 4.17 %

7,172,190 66,483 1.87 % 7,311,562 72,284 1.99 %

Non-interest bearing deposit accounts 2,703,482 — — % 2,561,921 — — %

Fair value premium and core deposit intangible amortization — 1,509 — — 1,887 —

Total deposits 9,875,672 67,992 1.39 % 9,873,483 74,171 1.51 %

Borrowings

Securities sold under agreements to repurchase 163,356 2,929 3.62 % 36,878 830 4.54 %

Advances from FHLB and other borrowings 456,433 9,243 4.08 % 365,103 7,569 4.18 %

Total borrowings 619,789 12,172 3.96 % 401,981 8,399 4.21 %

Total interest-bearing liabilities $ 10,495,461 $ 80,164 1.54 % $ 10,275,464 $ 82,570 1.62 %

Interest rate spread $ 311,112 5.26 % $ 300,999 5.22 %

Net interest margin 5.40 % 5.37 %

Core deposits: (Non-GAAP)

NOW accounts $ 2,606,964 $ 18,879 1.46 % $ 3,202,286 $ 30,347 1.91 %

Savings accounts 2,332,745 12,672 1.10 % 2,106,304 10,202 0.98 %

Time deposits 1,990,272 30,096 3.05 % 1,809,840 27,738 3.09 %

6,929,981 61,647 1.79 % 7,118,430 68,287 1.93 %

Non-interest bearing deposit accounts 2,703,482 — — % 2,561,921 — — %

Total core deposits $ 9,633,463 $ 61,647 1.29 % $ 9,680,351 $ 68,287 1.42 %

Total borrowings and brokered deposits: (Non-GAAP)

Total borrowings

$ 619,789 $ 12,172 3.96 % $ 401,981 $ 8,399 4.21 %

Brokered deposits

242,209 4,836 4.03 % 193,132 3,997 4.17 %

Total borrowings and brokered deposits

$ 861,998 $ 17,008 3.98 % $ 595,113 $ 12,396 4.20 %

OFG Bancorp (NYSE: OFG)

Table 6-1: Loan Information and Performance Statistics

2026 2026 2025 2025 2025

(Dollars in thousands) (unaudited) Q2 Q1 Q4 Q3 Q2

Net Charge-offs

Non-PCD

Mortgage:

Charge-offs $ — $ 66 $ — $ — $ 11

Recoveries (265) (193) (91) (171) (745)

Total mortgage (265) (127) (91) (171) (734)

Commercial PR:

Charge-offs 15,225 75 6,012 1,446 273

Recoveries (173) (52) (1,275) (922) (88)

Total commercial PR 15,052 23 4,737 524 185

Commercial US:

Charge-offs 1,608 3,934 55 3,647 —

Recoveries (55) — (44) — —

Total commercial US 1,553 3,934 11 3,647 —

Consumer:

Charge-offs 7,766 8,819 9,023 7,704 6,970

Recoveries (1,112) (1,068) (964) (896) (848)

Total consumer 6,654 7,751 8,059 6,808 6,122

Auto:

Charge-offs 14,420 18,159 19,002 16,743 14,870

Recoveries (7,141) (8,159) (7,070) (7,108) (7,570)

Total auto 7,279 10,000 11,932 9,635 7,300

Total $ 30,273 $ 21,581 $ 24,648 $ 20,443 $ 12,873

PCD

Mortgage:

Charge-offs $ — $ 6 $ — $ — $ 59

Recoveries (78) (167) (239) (281) (91)

Total mortgage (78) (161) (239) (281) (32)

Commercial PR:

Charge-offs — — 3,223 205 31

Recoveries (1,380) (21) (734) (118) (63)

Total commercial PR (1,380) (21) 2,489 87 (32)

Consumer:

Charge-offs — — — — 1

Recoveries (13) (6) (6) (10) (11)

Total consumer (13) (6) (6) (10) (10)

Auto:

Charge-offs — — 6 2 13

Recoveries (11) (14) (25) (33) (28)

Total auto (11) (14) (19) (31) (15)

Total $ (1,482) $ (202) $ 2,225 $ (235) $ (89)

Total Net Charge-offs $ 28,791 $ 21,379 $ 26,873 $ 20,208 $ 12,784

Net Charge-off Rates

Mortgage (0.10) % (0.09) % (0.10) % (0.13) % (0.22) %

Commercial PR 2.01 % — % 1.11 % 0.10 % 0.02 %

Commercial US 0.71 % 1.85 % 0.01 % 1.74 % — %

Consumer 3.78 % 4.40 % 4.55 % 3.85 % 3.50 %

Auto 1.11 % 1.52 % 1.81 % 1.45 % 1.11 %

Total 1.40 % 1.05 % 1.32 % 1.00 % 0.64 %

Average Loans Held For Investment

Mortgage $ 1,313,065 $ 1,322,249 $ 1,341,058 $ 1,361,765 $ 1,379,986

Commercial PR 2,726,998 2,654,345 2,596,971 2,536,829 2,463,009

Commercial US 876,561 849,850 834,224 836,527 786,637

Consumer 702,519 704,872 707,401 705,945 698,581

Auto 2,626,511 2,636,122 2,637,378 2,656,992 2,635,677

Total $ 8,245,654 $ 8,167,438 $ 8,117,032 $ 8,098,058 $ 7,963,890

OFG Bancorp (NYSE: OFG)

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

2026 2026 2025 2025 2025

(Dollars in thousands) (unaudited) Q2 Q1 Q4 Q3 Q2

Early Delinquency (30 - 89 days past due)

Mortgage $ 11,258 $ 8,287 $ 10,709 $ 11,474 $ 10,313

Commercial 6,308 4,309 2,004 9,423 3,121

Consumer 13,410 13,615 15,341 15,000 13,093

Auto 157,876 138,020 178,100 170,075 152,732

Total $ 188,852 $ 164,231 $ 206,154 $ 205,972 $ 179,259

Early Delinquency Rates (30 - 89 days past due)

Mortgage 1.71 % 1.29 % 1.68 % 1.83 % 1.67 %

Commercial 0.18 % 0.12 % 0.06 % 0.29 % 0.09 %

Consumer 1.95 % 2.01 % 2.25 % 2.19 % 1.93 %

Auto 6.02 % 5.25 % 6.75 % 6.43 % 5.74 %

Total 2.51 % 2.21 % 2.80 % 2.84 % 2.46 %

Total Delinquency (30 days and over past due)

Mortgage:

Traditional, Non traditional, and Loans under Loss Mitigation $ 21,430 $ 20,192 $ 22,246 $ 22,657 $ 19,946

GNMA's buy-back option program (21) 52,938 54,358 56,492 46,716 43,281

Total mortgage 74,368 74,550 78,738 69,373 63,227

Commercial 12,777 8,052 11,534 20,592 14,282

Consumer 17,139 17,343 19,519 18,942 16,839

Auto 172,395 152,912 198,779 185,964 167,653

Total $ 276,679 $ 252,857 $ 308,570 $ 294,871 $ 262,001

Total Delinquency Rates (30 days and over past due)

Mortgage:

Traditional, Non traditional, and Loans under Loss Mitigation 3.26 % 3.14 % 3.48 % 3.61 % 3.22 %

GNMA's buy-back option program (21) 8.05 % 8.45 % 8.84 % 7.45 % 7.00 %

Total mortgage 11.30 % 11.59 % 12.32 % 11.06 % 10.22 %

Commercial 0.36 % 0.23 % 0.34 % 0.62 % 0.43 %

Consumer 2.50 % 2.56 % 2.86 % 2.76 % 2.48 %

Auto 6.57 % 5.81 % 7.54 % 7.03 % 6.30 %

Total 3.68 % 3.40 % 4.18 % 4.06 % 3.59 %

Nonperforming Assets (14)

Mortgage $ 16,238 $ 17,921 $ 17,400 $ 17,426 $ 15,804

Commercial 32,474 84,004 87,253 53,428 54,003

Consumer 3,798 3,837 4,378 4,194 3,790

Auto 14,580 14,934 20,750 15,962 14,968

Total nonperforming loans 67,090 120,696 129,781 91,010 88,565

Foreclosed real estate 1,675 2,037 2,490 3,160 2,603

Other repossessed assets 4,195 4,310 3,457 4,865 4,760

Total nonperforming assets $ 72,960 $ 127,043 $ 135,728 $ 99,035 $ 95,928

Nonperforming Loan Rates

Mortgage 2.47 % 2.79 % 2.72 % 2.78 % 2.55 %

Commercial 0.91 % 2.41 % 2.55 % 1.62 % 1.62 %

Consumer 0.55 % 0.57 % 0.64 % 0.61 % 0.56 %

Auto 0.56 % 0.57 % 0.79 % 0.60 % 0.56 %

Total loans 0.89 % 1.62 % 1.76 % 1.25 % 1.21 %

OFG Bancorp (NYSE: OFG)

Table 6-3: Loan Information and Performance Statistics

2026 2026 2025 2025 2025

(Dollars in thousands) (unaudited) Q2 Q1 Q4 Q3 Q2

Nonperforming PCD Loans (14)

Mortgage $ 221 $ 224 $ 227 $ 230 $ 233

Commercial — 24 55 7,803 8,603

Total nonperforming loans $ 221 $ 248 $ 282 $ 8,033 $ 8,836

Nonperforming PCD Loan Rates

Mortgage 0.03 % 0.03 % 0.03 % 0.03 % 0.03 %

Commercial 0.00 % 0.03 % 0.07 % 9.43 % 9.92 %

Total 0.03 % 0.03 % 0.03 % 0.94 % 1.00 %

Total PCD Loans Held for Investment

Mortgage $ 709,278 $ 730,629 $ 751,291 $ 772,808 $ 795,863

Commercial 68,487 70,290 73,889 82,748 86,685

Consumer 316 306 302 337 575

Auto 66 75 89 119 160

Total loans $ 778,147 $ 801,300 $ 825,571 $ 856,012 $ 883,283

Total Nonperforming Loans (14)

Mortgage $ 16,459 $ 18,145 $ 17,627 $ 17,656 $ 16,037

Commercial 32,474 84,028 87,308 61,231 62,606

Consumer 3,798 3,837 4,378 4,194 3,790

Auto 14,580 14,934 20,750 15,962 14,968

Total nonperforming loans $ 67,311 $ 120,944 $ 130,063 $ 99,043 $ 97,401

Total Nonperforming Loan Rates

Mortgage 1.20 % 1.32 % 1.27 % 1.26 % 1.13 %

Commercial 0.90 % 2.36 % 2.50 % 1.81 % 1.83 %

Consumer 0.55 % 0.57 % 0.64 % 0.61 % 0.56 %

Auto 0.56 % 0.57 % 0.79 % 0.60 % 0.56 %

Total 0.81 % 1.47 % 1.59 % 1.22 % 1.19 %

Total Loans Held for Investment

Mortgage $ 1,367,206 $ 1,373,629 $ 1,390,346 $ 1,399,856 $ 1,414,567

Commercial 3,619,221 3,553,096 3,490,169 3,384,404 3,423,434

Consumer 687,199 677,841 683,548 686,077 680,635

Auto 2,623,828 2,630,497 2,636,979 2,646,930 2,661,955

Total loans $ 8,297,454 $ 8,235,063 $ 8,201,042 $ 8,117,267 $ 8,180,591

(a) Refer to “(a)” in Table 1-1.

OFG Bancorp (NYSE: OFG)

Table 7: Allowance for Credit Losses

Quarter Ended June 30, 2026

(Dollars in thousands) (unaudited) Mortgage Commercial Consumer Auto Total

Allowance for credit losses Non-PCD:

Balance at beginning of period $ 6,243 $ 68,408 $ 32,998 $ 92,462 $ 200,111

(Recapture of) provision for credit losses (194) 904 7,413 6,786 14,909

Charge-offs — (16,833) (7,766) (14,420) (39,019)

Recoveries 265 228 1,112 7,141 8,746

Balance at end of period $ 6,314 $ 52,707 $ 33,757 $ 91,969 $ 184,747

Allowance for credit losses PCD:

Balance at beginning of period $ 3,338 $ 495 $ 10 $ 2 $ 3,845

Recapture of provision for credit losses (273) (1,521) (13) (12) (1,819)

Charge-offs — — — — —

Recoveries 78 1,380 13 11 1,482

Balance at end of period $ 3,143 $ 354 $ 10 $ 1 $ 3,508

Allowance for credit losses summary:

Balance at beginning of period $ 9,581 $ 68,903 $ 33,008 $ 92,464 $ 203,956

(Recapture of) provision for credit losses (467) (617) 7,400 6,774 13,090

Charge-offs — (16,833) (7,766) (14,420) (39,019)

Recoveries 343 1,608 1,125 7,152 10,228

Balance at end of period $ 9,457 $ 53,061 $ 33,767 $ 91,970 $ 188,255

Allowance coverage ratio 0.69 % 1.47 % 4.91 % 3.51 % 2.27 %

) Refer to “(c)” in Table 1-1.

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.

2026 2026 2025 2025 2025

(Dollars in thousands) (unaudited) Q2 Q1 Q4 Q3 Q2

Stockholders' Equity to Non-GAAP Tangible Common Equity

Total stockholders' equity $ 1,407,272 $ 1,366,895 $ 1,390,005 $ 1,375,417 $ 1,334,453

Less: Intangible assets (92,124) (93,110) (94,096) (95,327) (96,559)

Tangible common equity (Non-GAAP) $ 1,315,148 $ 1,273,785 $ 1,295,909 $ 1,280,090 $ 1,237,894

Common shares outstanding at end of period 42,265 42,257 43,257 44,265 44,742

Tangible book value per common share (Non-GAAP) $ 31.12 $ 30.14 $ 29.96 $ 28.92 $ 27.67

Total Assets to Non-GAAP Tangible Assets

Total assets $ 12,154,572 $ 12,047,903 $ 12,465,657 $ 12,229,812 $ 12,231,510

Less: Intangible assets (92,124) (93,110) (94,096) (95,327) (96,559)

Tangible assets (Non-GAAP) $ 12,062,448 $ 11,954,793 $ 12,371,561 $ 12,134,485 $ 12,134,951

Non-GAAP TCE Ratio

Tangible common equity $ 1,315,148 $ 1,273,785 $ 1,295,909 $ 1,280,090 $ 1,237,894

Tangible assets 12,062,448 11,954,793 12,371,561 12,134,485 12,134,951

TCE ratio 10.90 % 10.66 % 10.47 % 10.55 % 10.20 %

Average Equity to Non-GAAP Average Tangible Common Equity

Average total stockholders' equity $ 1,403,137 $ 1,406,938 $ 1,394,097 $ 1,361,055 $ 1,318,886

Less: Average intangible assets (92,471) (93,460) (94,528) (95,756) (96,983)

Average tangible common equity (Non-GAAP) $ 1,310,666 $ 1,313,478 $ 1,299,569 $ 1,265,299 $ 1,221,903

OFG Bancorp (NYSE: OFG)

Table 8-2: Reconciliation of GAAP to Non-GAAP Measures and Calculation of Regulatory Capital Measures (Continued)

BASEL III

Standardized

2026 2026 2025 2025 2025

(Dollars in thousands) (unaudited) Q2 Q1 Q4 Q3 Q2

Regulatory Capital Metrics

Common equity Tier 1 capital $ 1,359,866 $ 1,312,874 $ 1,318,632 $ 1,313,558 $ 1,293,041

Tier 1 capital 1,359,866 1,312,874 1,318,632 1,313,558 1,293,041

Total risk-based capital (15) 1,481,504 1,433,271 1,437,595 1,430,713 1,409,447

Risk-weighted assets 9,666,852 9,550,860 9,436,010 9,298,556 9,245,125

Regulatory Capital Ratios

Common equity Tier 1 capital ratio (16) 14.07 % 13.75 % 13.97 % 14.13 % 13.99 %

Tier 1 risk-based capital ratio (17) 14.07 % 13.75 % 13.97 % 14.13 % 13.99 %

Total risk-based capital ratio (18) 15.33 % 15.01 % 15.24 % 15.39 % 15.25 %

Leverage ratio (19) 11.23 % 10.88 % 10.71 % 10.75 % 10.83 %

Common Equity Tier 1 Capital Ratio Under Basel III Standardized Approach

Total stockholders' equity $ 1,407,272 $ 1,366,895 $ 1,390,005 $ 1,375,417 $ 1,334,453

Plus: Unrealized losses on available-for-sale securities, net of

income tax 38,946 33,573 16,906 27,301 48,782

Total adjusted stockholders’equity 1,446,218 1,400,468 1,406,911 1,402,718 1,383,235

Less: Disallowed goodwill, net (79,321) (79,764) (79,700) (79,889) (80,079)

Disallowed other intangible assets, net (7,031) (7,729) (8,429) (9,271) (10,115)

Disallowed deferred tax assets, net — (101) (150) — —

Common equity Tier 1 capital and Tier 1 capital 1,359,866 1,312,874 1,318,632 1,313,558 1,293,041

Plus Tier 2 capital: Qualifying allowance for credit losses 121,638 120,397 118,963 117,155 116,406

Total risk-based capital $ 1,481,504 $ 1,433,271 $ 1,437,595 $ 1,430,713 $ 1,409,447

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) 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.

(21) 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.

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