OFG Bancorp (OFG) Financial Statements (2024 and earlier)

Company Profile

Business Address 254 MU?OZ RIVERA AVENUE
SAN JUAN, 00918
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments550,3072,023,4752,154,202851,307447,033485,394
Cash and cash equivalents550,3072,023,4752,154,202851,307447,033485,203
Short-term investments      191
Prepaid expense102,075115,661115,63297,85815,28814,900
Total current assets:652,3822,139,1362,269,834949,165462,321500,294
Noncurrent Assets
Operating lease, right-of-use asset25,36328,84631,38339,112
Nontrade receivables   65,54737,12034,25449,969
Property, plant and equipment106,82092,12483,78681,10568,89267,860
Intangible assets, net (including goodwill)111,834122,162131,965143,03489,43890,756
Goodwill84,24186,06986,06986,06986,06986,069
Intangible assets, net (excluding goodwill)27,59336,09345,89656,9653,3694,687
Deferred income tax assets55,48599,063162,478176,740
Total noncurrent assets:299,502342,195475,159477,111192,584208,585
Other undisclosed assets8,866,8967,418,3897,081,0187,871,3855,928,4475,480,174
TOTAL ASSETS:9,818,7809,899,7209,826,0119,297,6616,583,3526,189,053
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt4954911,100191,274455,509195,069
Derivative instruments and hedges, liabilities     3331,281
Total current liabilities:4954911,100191,274455,842196,350
Noncurrent Liabilities
Other undisclosed liabilities8,775,8798,830,0698,738,9368,060,9095,127,6335,047,596
Total liabilities:8,776,3748,830,5608,740,0368,252,1835,583,4755,243,946
Equity
Equity, attributable to parent, including:1,042,4061,069,1601,085,9751,045,478999,877945,107
Common stock59,88559,88559,88559,88559,88552,626
Treasury stock, value(211,135)(150,572)(102,949)(102,339)(103,633)(104,502)
Additional paid in capital636,793637,061622,652621,515619,381541,600
Accumulated other comprehensive income (loss)(93,409)5,16011,022(1,008)(10,963)(2,949)
Retained earnings516,371399,949300,096279,646253,040200,878
Other undisclosed equity, attributable to parent133,901117,677195,269187,779182,167257,454
Total equity:1,042,4061,069,1601,085,9751,045,478999,877945,107
TOTAL LIABILITIES AND EQUITY:9,818,7809,899,7209,826,0119,297,6616,583,3526,189,053

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues478,468451,691473,538348,068330,190388,625
Net investment income460,162433,788457,435339,875321,381312,421
Financial services revenue76,204
Cost of revenue(24,119)(221)(92,672)(96,792)(56,108)(113,139)
Provision for loan, lease, and other losses(24,119)(221)(92,672)(96,792)(56,108)
Financial services costs(113,139)
Gross profit:454,349451,470380,866251,276274,082275,486
Operating expenses(127,139)(118,623)(128,920)(98,340)(79,767)(158,602)
Operating income:327,210332,847251,946152,936194,315116,884
Nonoperating income
(Investment Income, Nonoperating)
   7,336315  
Interest and debt expense(33,451)(43,310)(64,978)(51,009)(44,525)(41,555)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (99,478)(26,992)(16,990)(7,240)
Income from continuing operations before equity method investments, income taxes:293,759289,53794,82675,250132,80068,089
Other undisclosed loss from continuing operations before income taxes(49,654)(74,934)    
Income from continuing operations before income taxes:244,105214,60394,82675,250132,80068,089
Income tax expense(77,866)(68,452)(20,499)(21,409)(48,390)(15,443)
Income from continuing operations:166,239146,15174,32753,84184,41052,646
Income before gain (loss) on sale of properties:146,15174,32753,84184,41052,646
Net income attributable to parent:166,239146,15174,32753,84184,41052,646
Other undisclosed net loss available to common stockholders, basic  (1,255)(6,512)(6,512)(12,024)(13,862)
Net income available to common stockholders, diluted:166,239144,89667,81547,32972,38638,784

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:166,239146,15174,32753,84184,41052,646
Other comprehensive income (loss)(98,569)(5,862)12,0309,955(8,014)(4,545)
Comprehensive income, net of tax, attributable to parent:67,670140,28986,35763,79676,39648,101

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: