OFG Bancorp Q1 EPS Beats $1.26

OFG Bancorp reported adjusted EPS $1.26, topping consensus $1.00, with core revenue $185.8 million, up 4.2% YoY.
Net interest margin was 5.36%, return on assets 1.78%; provision for credit losses fell to $22.5 million from $31.9 million.
Loans held for investment rose to $8.24 billion, new loan production $608.9 million (+8.9% YoY); deposits $9.66 billion, down $0.26 billion.
Company repurchased $44.5 million of shares, raised dividend 17%, efficiency ratio 50.97%, CET1 ratio 13.75%; stock unchanged after-hours.