OFG Bancorp Reports 15% EPS Growth in Q3 2026 Driven by Commercial Lending
OFG Bancorp (OFG) reported a strong third quarter for 2026, highlighted by a 15% year-over-year increase in earnings per share to $1.33. The growth was primarily fueled by robust commercial loan expansion and disciplined expense management. Despite some weakness in the auto lending sector, the bank's overall asset quality improved significantly, with commercial non-performing loan rates dropping to 0.68% from 0.90% in the previous quarter. The company is also seeing success through digital transformation, reporting a 24% year-over-year increase in active digital users. This technological push aims to lower servicing costs and attract diverse deposit bases across retail and small business segments. Additionally, OFG has resumed its capital return program, allocating $13.5 million toward share repurchases during the quarter while maintaining a substantial remaining authorization.
Tickers: $OFG
Topics: asset quality commercial loan growth digital banking adoption earnings per share share repurchases