OFG Bancorp Reports Q3 2026 Earnings Growth Driven by Commercial Lending
OFG Bancorp (OFG) reported third-quarter 2026 results featuring a 14.7% year-over-year increase in diluted earnings per share to $1.33. The growth was primarily fueled by expansion in the commercial lending segment and disciplined reductions in non-interest expenses. Total core revenues rose 1% to $185.7 million, reflecting steady momentum despite a slight decline in net interest margin (NIM) to 5.2% due to rising liability costs. The company's balance sheet remains robust with loans held for investment reaching $8.45 billion and a Common Equity Tier 1 ratio of 14.1%. While the total delinquency rate rose slightly to 3.91% due to seasonal normalization in auto lending, the net charge-off rate improved significantly to 0.70%. Management continues to focus on digital adoption, noting a 24% year-over-year increase in active digital users.
Tickers: $OFG
Topics: commercial lending customer deposits earnings report loan production net interest margin