OFG Bancorp Reports Third Quarter GAAP EPS of $1.33, Exceeding Estimates Amid Revenue Miss
OFG Bancorp reported third-quarter financial results featuring a GAAP earnings per share (EPS) of $1.33, which surpassed analyst expectations by $0.10. Despite the earnings beat, total revenue reached $185.7 million, representing a slight year-over-year increase of 0.9% but falling short of consensus estimates by approximately $1.81 million. The bank's net interest margin stood at 5.23%, contributing to a net interest income of $153.5 million. While loans held for investment saw growth of 4.1% year-over-year to reach $8.45 billion, the company experienced a 1.6% decline in customer deposits, which fell to $9.66 billion.
Tickers: $OFG
Topics: deposit decline earnings beat loan growth net interest margin revenue miss