OFG Bancorp

OFG Bancorp is a financial holding company that provides a range of banking and financial services in the United States, primarily in Puerto Rico. Its business is organized into three segments: Banking, Wealth Management, and Treasury. The Banking segment offers savings accounts, certificates of deposit, individual retirement accounts, and both personal and commercial checking accounts. It also provides various loans including commercial loans, auto loans, mortgage loans, consumer loans such as personal loans and residential solar panel loans, credit cards, and lines of credit. The Wealth Management segment includes securities brokerage, insurance agency, captive reinsurance, trust services, and financial services, offering investment alternatives like tax-advantaged fixed income securities, mutual funds, stocks, and bonds. The Treasury segment manages asset/liability activities, including purchases and sales of investment securities, interest rate risk management, derivatives, and borrowings.

OFG Bancorp is listed on the New York Stock Exchange (NYSE) under the ticker symbol OFG. Its financials are reported in US Dollars (USD). The company is headquartered in San Juan, Puerto Rico, and operates primarily in the United States, with a focus on the Puerto Rican market.

OFG Bancorp operates in the Financial Services sector, specifically within the Banks - Regional industry. As a regional bank, it provides a broad range of banking and financial services to individuals and businesses in its geographic area, primarily Puerto Rico. The company's services include traditional deposit accounts, lending products, wealth management, and treasury operations.

OFG Bancorp is headquartered in San Juan, Puerto Rico, and serves customers in the United States, with a strong focus on Puerto Rico. Founded in 1964, the company has a long history of providing banking and financial services in the region. Its operations include a network of branches and digital banking services, catering to both retail and institutional clients.

OFG Bancorp generates revenue primarily through its Banking, Wealth Management, and Treasury segments. The Banking segment earns income from net interest income on loans and deposits, including commercial, auto, mortgage, and consumer loans. The Wealth Management segment generates fees from securities brokerage, insurance agency, trust services, and financial planning, as well as from offering investment products like mutual funds and bonds. The Treasury segment engages in asset/liability management, including investments in mortgage-backed securities, U.S. government-sponsored agency obligations, and U.S. Treasury securities, as well as derivatives and borrowings, to manage interest rate risk and generate returns.