OFG Bancorp
OFG Bancorp (NYSE: OFG) is a Puerto Rico-based diversified financial holding company operating Oriental Bank, Oriental Financial Services, and Oriental Insurance to serve retail, commercial, wealth management, and government clients in Puerto Rico, the U.S. Virgin Islands, and selectively the U.S. mainland.
- Company typePublic
- Founded1964
- HeadquartersSan Juan, Puerto Rico
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What OFG Bancorp does
OFG Bancorp (NYSE: OFG) is a diversified financial holding company founded in 1964 and headquartered in San Juan, Puerto Rico, operating through three principal wholly-owned subsidiaries: Oriental Bank (core retail and commercial banking), Oriental Financial Services (securities brokerage and investment advisory), and Oriental Insurance (insurance agency). The company serves retail consumers, small businesses, mid-market and enterprise commercial clients, wealth management clients, and government/institutional customers primarily in Puerto Rico and the U.S. Virgin Islands, with a smaller commercial lending footprint in the mainland United States via OFG USA LLC. It is one of only three remaining banking institutions in Puerto Rico, holding No. 2 and No. 3 market positions in retail/commercial banking and wealth management.
The company's product platform spans consumer lending (auto loans, residential mortgages, consumer finance, credit cards), commercial banking (business loans, commercial mortgages, leasing, cash management, trade finance), deposit products (Libre for mass-market, Elite for mass-affluent, My Biz for small business), and wealth management (financial planning, investment brokerage, corporate and individual trust, retirement products, insurance). Its "Digital First" strategy centers on the Oriental Servicing Portal (launched 2023), FOTOdeposit mobile check deposit (2014), and People Pay peer-to-peer payments (2014), positioning Oriental Bank as a digital pioneer in Puerto Rico while maintaining a physical branch network.
OFG generates revenue primarily through net interest income on its $8.24B loan portfolio and $2.79B investment securities book, supplemented by fee-based wealth management and insurance commissions ($32.0M in Q1 2026). Reported core revenues totaled $729.8M in FY2025 (up 2.8% YoY) and $185.8M in Q1 2026 (up 4% YoY), supported by a 5.36% net interest margin, 1.78% ROA, 16.43% ROTCE, and 13.75% CET1 ratio. Three major acquisitions — Eurobank (2010), BBVA Puerto Rico (2012), and Scotiabank PR/USVI (2019) — drove scale expansion under CEO José Rafael Fernández, who has led the company since 2004.
OFG Bancorp firmographics
Firmographics- Name
- OFG Bancorp
- Legal name
- OFG Bancorp
- Website
- https://ofgbancorp.com
- Company type
- Public
- Founded year
- 1964
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- OFG Bancorp (NYSE: OFG) is a Puerto Rico-based diversified financial holding company operating Oriental Bank, Oriental Financial Services, and Oriental Insurance to serve retail, commercial, wealth management, and government clients in Puerto Rico, the U.S. Virgin Islands, and selectively the U.S. mainland.
- Ownership category
- akta.pro rank
OFG Bancorp industry classification
Industry- Product category
- Retail and Commercial Banking
- NAICS
- Offices of Bank Holding Companies (551111), Commercial Banking (52211)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Bank-Affiliated Retail Wealth Management (FSAAAAAB)
Keywords
Where OFG Bancorp is headquartered
LocationHeadquarters
- HQ city
- San Juan
- HQ country
- Puerto Rico
- HQ region
- Latin America
Offices4 records
Markets served
OFG Bancorp business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Net Interest Income: Interest income from loan portfolio (auto loans, residential mortgages, commercial loans, consumer finance, credit cards) minus interest expense on deposits and borrowings. Primary revenue driver with Q1 2026 total interest income of $194.1 million and interest expense of $40.3 million. NIM of 5.36% in Q1 2026.
- Banking and Financial Services: Non-interest income from wealth management, insurance commissions, and banking fees. Q1 2026 revenues of $32.0 million including $1.3 million favorable MSR valuation. Includes financial planning, money management, investment brokerage, corporate and individual trust, retirement products, and insurance agency services.
- Treasury and Investment Securities: Income from investment portfolio including mortgage-backed securities. Total investments of $2.79 billion in Q1 2026 with principal paydowns and maturities contributing to revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Quarterly | Common stock quarterly dividend |
Distribution channels5 records
Marketing channels5 records
OFG Bancorp product offering
Product offeringCore offering
OFG Bancorp is a diversified financial holding company operating through three principal subsidiaries: Oriental Bank (core retail and commercial banking), Oriental Financial Services (securities brokerage and investment advisory), and Oriental Insurance (insurance agency). The company provides deposit accounts, consumer and commercial loans, wealth management, trust services, retirement products, and digital banking solutions primarily to retail consumers, small businesses, and government entities in Puerto Rico and the U.S. Virgin Islands.
Product overview
OFG Bancorp operates as a diversified financial holding company with three principal subsidiaries: Oriental Bank (core banking), Oriental Financial Services (wealth management and securities brokerage), and Oriental Insurance. The company offers a comprehensive suite of banking and financial services including consumer banking (auto loans, residential mortgages, consumer finance, credit cards), commercial banking (business loans, commercial mortgages, leasing, cash management, international trade financing), and wealth management (financial planning, investment brokerage, trust services, retirement products). The group has implemented a 'Digital First' strategy, differentiating through enhanced digital capabilities enabled by the Oriental Servicing Portal, FOTOdeposit, and People Pay mobile banking innovations, while maintaining personal service through its retail branch network in Puerto Rico and U.S. Virgin Islands.
Differentiator
Problem solved
Functional benefit
Products and services
- Oriental Bank Retail and Commercial Banking The primary banking subsidiary of OFG Bancorp, offering retail and commercial banking services including deposits, auto loans, residential mortgages, consumer finance, credit cards, business loans, commercial mortgages, leasing, cash management, and international trade financing to consumers and businesses in Puerto Rico and U.S. Virgin Islands.
- Oriental Financial Services Wealth management subsidiary offering securities brokerage and investment advisory services, including financial planning, money management, investment brokerage, corporate and individual trust, and retirement products for affluent individuals and businesses.
- Oriental Insurance Insurance agency subsidiary providing insurance products and services for retail and commercial customers as part of the integrated financial services offering.
- Libret and Elite Retail Deposit Accounts
Quantifiable outcome
- Net interest margin of 5.36% in Q1 2026, among the highest for regional banks
- +4 more outcomes
Companies that use OFG Bancorp
Customer profileSegments4 records
Ideal customer profiles4 records
OFG Bancorp technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
OFG Bancorp partnerships and signals
Strategic signalScale indicators22 records
Recent moves7 records
Expansion highlights6 records
OFG Bancorp competitors and assessment
Company assessmentBroad incumbents
- Flushing Financial Corporation: Flushing Financial (NASDAQ: FFIC) is a New York-area community bank with similar size, deposit mix, and net interest margin profile. It provides a relevant U.S. mainland comparison point for OFG's banking economics and valuation.
- Customers Bancorp: Customers Bancorp (NYSE: CUBI) is a mid-cap U.S. regional commercial bank with similar deposit-funded lending economics. It is comparable in size, profitability ratios, and capital return orientation, making it a relevant benchmark for OFG's multiple and earnings power.
- Trustco Bank Corp NY: Trustco Bank Corp (NASDAQ: TRST) is a small-cap U.S. regional bank with a community banking model and consistent capital return similar to OFG. Comparable deposit-funded lending model and shareholder-friendly capital allocation make it relevant for benchmarking.
- BankUnited: BankUnited (NYSE: BKU) is a U.S. regional bank with a similar size profile (mid-cap, ~$35B in assets) and comparable deposit-funded commercial lending model. It serves as a relevant U.S. comparable for OFG's regional banking economics and capital return profile, though it operates on the mainland rather than in PR.
- Cathay General Bancorp: Cathay General Bancorp (NASDAQ: CATY) is a U.S. regional bank with comparable mid-cap scale and a similar mix of commercial lending, retail deposits, and wealth management. It provides useful valuation and profitability benchmarks for OFG's regional bank profile and capital efficiency.
- Webster Financial Corporation: Webster Financial (NYSE: WBS) is a U.S. regional bank with a comparable mix of commercial banking, retail deposits, and wealth management. Its scale and product mix provide useful benchmarks for OFG's potential expansion path and profitability profile.
Others
- Banco de Crédito e Inversiones: Banco de Crédito e Inversiones (BCI) is a Chilean bank that entered the Puerto Rico market through the acquisition of a major local bank, making it both a potential competitor and a regional strategic counterparty for OFG. It is relevant as a foreign entrant reshaping the PR banking landscape.
Emerging players
- Triple-S Management Corporation: Triple-S Management (NYSE: GTS) is a Puerto Rico-based financial services holding company primarily in insurance and managed care. While its core business differs, it operates in the same geographic market with overlapping institutional customer relationships, making it a regional comparison for capital allocation and PR market positioning.
Direct peers
- Popular, Inc. Popular, Inc. (NASDAQ: BPOP) is the parent of Banco Popular de Puerto Rico and is the largest of the three remaining banks in Puerto Rico. It directly competes with OFG Bancorp across retail, commercial, and wealth management lines in the same island geography, with overlapping products, branches, and customer segments.
- First BanCorp. First BanCorp. (NYSE: FBP) is the parent of FirstBank Puerto Rico and the third major bank serving the same Puerto Rico and U.S. Virgin Island market as OFG. It offers directly comparable retail deposits, commercial lending, and mortgage products, and competes head-to-head for the same customers and government banking relationships.
Market position
Strengths1 record
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
OFG Bancorp social profiles
Digital presenceOFG Bancorp compliance and trust
Trust signalCompliance3 records
OFG Bancorp financial estimates
Financial estimateRevenue estimate
Valuation estimate
OFG Bancorp leadership team
Management profileNumber of profiles
Profiles15 records
OFG Bancorp subsidiaries and ownership
Company hierarchySubsidiaries3 records
OFG Bancorp funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OFG Bancorp M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OFG Bancorp
What does OFG Bancorp do?
OFG Bancorp is a diversified financial holding company operating through three principal subsidiaries: Oriental Bank (core retail and commercial banking), Oriental Financial Services (securities brokerage and investment advisory), and Oriental Insurance (insurance agency). The company provides deposit accounts, consumer and commercial loans, wealth management, trust services, retirement products, and digital banking solutions primarily to retail consumers, small businesses, and government entities in Puerto Rico and the U.S. Virgin Islands.
Is OFG Bancorp a public or private company?
OFG Bancorp is a public company. It is classified as public and is currently operating.
When was OFG Bancorp founded?
OFG Bancorp was founded in 1964. It employs 1,001 to 5,000 people.
Where is OFG Bancorp based?
OFG Bancorp is headquartered in San Juan, Puerto Rico, in the Latin America region.
How does OFG Bancorp make money?
Three revenue lines are on record. Net Interest Income is the primary driver. The others are banking and Financial Services and treasury and Investment Securities.
Who are OFG Bancorp's main competitors?
Broad incumbents on record are Flushing Financial Corporation, Customers Bancorp, Trustco Bank Corp NY, BankUnited, Cathay General Bancorp and Webster Financial Corporation. Banco de Crédito e Inversiones is listed as an others. Triple-S Management Corporation is listed as an emerging player. Direct peers are Popular, Inc. and First BanCorp..
Does OFG Bancorp have an API?
No public API is recorded for OFG Bancorp.
What industry is OFG Bancorp in?
OFG Bancorp's product category is Retail and Commercial Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs). Its NAICS code is 551111 and its SIC code is 6021.