OFG Bancorp OFG Income Statement

Ofg bancorp (OFG)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Non-covered loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	88,064	85,243	-	87,655	91,105	80,807	26,713	17,964	17,223	18,123	17,505	17,161	15,969	17,965	17,700	17,813
Covered loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,879	23,388	-	21,657	23,999	20,229	21,210	22,283	20,342	21,541	22,157	18,222	13,060	14,226	16,647	11,587
Interest and Fee Income, Loans and Leases
116,502	84,904	85,772	85,080	84,119	84,324	84,016	78,429	74,612	75,066	82,467	77,238	77,650	78,514	82,604	79,675	81,152	82,371	97,264	90,504	97,483	105,431	108,548	112,943	108,631	118,450	109,312	115,104	101,036	47,923	40,247	37,565	39,664	39,662	35,383	29,029	32,191	-	-
Mortgage-backed securities
2,773	2,389	3,553	5,987	7,925	7,932	8,173	8,034	7,051	6,267	6,245	7,276	7,206	7,308	6,997	7,220	8,997	9,613	9,137	7,998	8,590	9,593	10,842	11,984	12,417	11,367	9,662	9,080	10,818	14,886	23,986	21,573	28,063	23,650	33,515	51,021	43,738	40,429	41,519
Investment securities and other
4,489	3,882	4,330	3,188	2,666	2,850	1,948	1,543	1,507	1,841	1,643	1,426	1,322	972	983	1,013	1,157	923	846	911	928	958	911	973	2,026	2,240	2,127	2,118	2,318	1,606	1,453	1,650	2,192	2,211	2,638	2,152	2,105	6,445	8,925
Total interest income
123,764	91,175	93,655	94,255	94,710	95,106	94,137	88,006	83,170	83,174	90,355	85,940	86,178	86,794	90,584	87,908	91,306	92,907	107,247	99,413	107,001	115,982	120,301	125,900	123,074	132,057	121,101	126,302	114,172	-	65,686	60,788	-	65,523	71,536	82,202	78,034	81,221	79,844
Interest expense:
Deposits
16,620	9,761	10,554	9,991	9,049	9,399	8,605	7,651	7,298	7,692	7,601	7,652	7,353	7,431	7,331	7,367	7,124	6,675	6,651	6,604	7,104	8,150	7,661	9,165	8,978	10,221	11,334	9,487	9,935	5,927	6,714	7,885	9,123	10,233	11,492	11,546	12,226	12,680	11,951
Securities sold under agreements to repurchase
1,002	1,190	1,342	2,106	2,785	2,636	2,242	1,840	1,076	962	1,282	1,734	3,245	4,176	4,272	4,258	6,099	7,404	7,605	7,394	7,164	7,418	7,453	7,372	7,411	7,681	7,211	7,109	7,248	11,161	15,344	16,500	17,570	22,403	23,206	23,512	24,159	25,128	25,487
Advances from FHLB and other borrowings
539	540	550	559	563	536	517	448	374	599	596	607	596	611	1,237	2,098	2,240	2,306	2,283	2,248	2,235	2,287	2,314	2,289	2,295	2,345	2,321	2,241	1,713	2,415	2,561	2,926	3,004	3,177	3,042	3,002	3,049	3,082	3,053
InterestExpenseOtherLongTermDebt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	909	1,021	1,021	1,021	1,021	1,021	1,021
Note payable to the FDIC
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	823	1,064
Subordinated capital notes
435	475	499	514	524	500	496	479	428	408	398	384	366	363	817	873	868	900	885	875	863	999	1,002	996	992	1,140	1,144	1,170	1,660	507	323	321	328	316	305	308	302	327	305
Total interest expense
18,596	11,966	12,945	13,170	12,921	13,071	11,860	10,418	9,176	9,661	9,877	10,377	11,560	12,581	13,657	14,596	16,331	17,285	17,424	17,121	17,366	18,854	18,430	19,822	19,676	21,387	22,010	20,007	20,556	20,010	24,942	27,632	30,934	37,150	39,066	39,389	40,757	43,061	42,881
Interest Income (Expense), Net
105,168	79,209	80,710	81,085	81,789	82,035	82,277	77,588	73,994	73,513	80,478	75,563	74,618	74,213	76,927	73,312	74,975	75,622	89,823	82,292	89,635	97,128	101,871	106,078	103,398	110,670	99,091	106,295	93,616	44,405	40,744	33,156	38,985	28,373	32,470	42,813	37,277	38,160	36,963
Provision for Non Covered Loan and Lease Losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,220	10,062	-	9,900	37,527	7,916	3,454	3,600	3,800	3,000	3,800	3,800	3,800	3,800	4,100	4,100
Provision for Covered Loan and Lease Losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,595	1,629	-	3,074	1,211	672	982	221	1,467	7,157	0	-1,936	0	549	-	-
Total provision for loan and lease losses
47,131	23,068	43,770	17,705	12,249	11,300	14,601	14,747	15,460	24,907	44,042	26,536	17,654	13,373	23,469	14,445	13,789	52,190	51,579	15,539	42,193	16,877	17,257	14,815	11,691	12,594	12,974	38,738	8,588	4,436	3,821	5,267	10,157	3,800	1,864	3,800	4,349	4,100	-
Net interest income after provision for loan and lease losses
58,037	56,141	36,940	63,380	69,540	70,735	67,676	62,841	58,534	48,606	36,436	49,027	56,964	60,840	53,458	58,867	61,186	23,432	38,244	66,753	47,442	80,251	84,614	91,263	91,707	98,076	86,117	67,557	85,028	39,969	36,923	27,889	28,828	24,573	30,606	39,013	32,928	34,060	32,863
Non-interest income:
Fees and Commissions, Depositor Accounts
15,646	10,812	10,813	10,776	10,465	11,234	10,797	11,144	10,463	8,461	9,923	10,458	10,626	10,980	10,330	10,219	10,118	10,223	10,826	10,212	10,205	10,407	9,753	9,995	10,557	7,550	12,146	12,705	11,838	4,342	3,006	3,145	3,080	2,736	2,969	3,234	3,724	3,442	3,041
Wealth management revenue
7,286	7,062	6,611	6,669	5,882	7,246	6,407	6,262	6,019	7,043	6,016	6,516	6,215	7,714	6,526	7,041	6,152	7,715	6,885	7,285	7,155	8,539	7,113	7,336	6,867	7,840	7,394	8,030	7,660	7,516	6,042	5,903	5,889	5,927	5,387	4,575	4,682	4,613	4,659
Fees and Commissions Mortgage Banking and Servicing Income
3,234	1,322	1,118	629	1,206	780	1,242	988	1,757	1,230	1,274	959	587	1,721	1,421	1,024	855	1,411	992	1,862	1,863	2,035	2,097	1,554	1,695	1,680	2,334	3,827	3,153	1,564	2,204	2,436	2,502	2,860	2,758	2,435	1,823	3,418	2,339
Fees and Commissions
26,166	19,196	18,542	18,074	17,553	19,260	18,446	18,394	18,239	16,734	17,213	17,933	17,428	20,415	18,277	18,284	17,125	19,349	18,703	19,359	19,223	20,981	18,963	18,885	19,119	17,070	21,874	24,562	22,651	13,422	11,252	11,484	11,471	11,523	11,114	10,244	10,229	11,473	10,039
Portion of loss on securities recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Than Temporary Impairment Losses Investments Securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	246	-	-	-	0	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-
Total loss on other-than-temporarily impaired securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,739	1,796
FDIC indemnification asset expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,059	17,499	17,622	-	15,198	19,225	12,201	-	8,096	-	-	-	-	-	-	-	-
Change in true-up payment obligation expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	875	856	865	-	767	740	670	-	-	-	-	-	-	-	-	-	-
Fdic Shared Loss Expense Net
-	-	-	-	-	-	-	-	-	0	0	0	-1,403	2,836	3,296	3,420	4,029	4,400	2,079	23,245	13,084	11,980	16,934	18,355	18,487	20,466	15,965	19,965	12,871	-	-	-	-	-	-	-	-	-	-
Net Gain On [Abstract]
Available-for-sale Securities, Gross Realized Gain (Loss)
4,700	0	3,498	4,776	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reimbursement from FDIC shared-loss coverage in sale of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Securities, Net
-	-	-	-	-	-	-	-	-	-	4	6,891	0	0	0	211	11,996	0	0	0	2,572	0	0	0	4,366	0	0	0	0	18,505	36,366	11,979	7,360	4,895	13,971	9,132	-2	13,954	11,833
Net (amortization) accretion of FDIC shared-loss indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,583	4,827	-	2,422	-1,020	-1,211	-1,600	-1,314
Fair value adjustment on FDIC equity appreciation instrument
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	909
Derivative Gain Loss On Derivative Net
-	-	-	-	-	-	-	-	-	29	0	22	81	-75	17	-10	-3	31	-208	77	-90	-145	7	-247	-223	237	-811	-164	-788	-40,344	-1,811	107	0	-12,824	695	3,704	-3,956	-22,580	-26,615
Gains Losses On Extinguishment Of Debt
-	-	0	-7	-	-	0	0	-	0	0	-80	0	0	0	0	-12,000	0	0	0	0	-	-	-	-	0	0	0	1,061	-	-24,312	-	-	-	-4,790	-	-	-	-
Business Combination Bargain Purchase Gain Recognized Amount
409	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-31	4	1
Foreclosed real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-398	-	-199	-3	-132	-140	-26
Early extinguishment ofsubordinated capital notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-
Other non-interest income
80	200	138	105	103	4,998	174	309	275	51	695	120	162	442	5,217	90	414	638	-193	-847	-1,740	240	455	224	454	97	-1,775	2,302	46	135	982	63	-842	-3,225	-14	70	86	-35	7
Total non-interest income, net
31,383	19,711	22,178	22,948	17,656	24,258	18,620	18,703	18,514	16,815	17,912	24,886	19,074	17,946	20,215	15,155	13,503	14,374	35,977	-4,656	6,881	9,096	2,491	507	5,229	-3,062	3,323	6,735	10,099	-18,926	14,381	17,836	12,764	-8,674	16,965	16,759	7,405	-10,463	-4,334
Non-interest expense:
Compensation and employee benefits
35,544	21,817	20,500	19,875	20,341	19,322	18,495	18,099	20,608	20,205	19,882	19,317	20,347	18,898	19,168	18,441	20,254	18,544	21,015	19,260	20,180	24,197	18,592	20,707	21,787	22,029	22,590	24,089	23,249	12,906	11,323	11,184	10,365	11,041	11,593	11,230	11,688	11,686	10,433
Occupancy, Net
11,439	7,488	7,307	7,511	7,746	7,762	8,388	9,166	7,768	8,544	8,276	8,538	7,199	7,163	7,353	8,107	7,677	7,391	8,556	8,883	8,636	9,026	8,770	8,605	8,309	8,856	8,270	8,066	9,216	4,832	4,197	4,292	4,209	4,542	4,369	4,214	4,405	5,486	4,404
Electronic Banking Charges
9,588	5,546	5,505	5,128	5,065	5,267	5,586	5,415	4,966	3,949	5,021	5,450	4,902	5,094	5,077	4,947	5,589	5,179	5,496	5,851	5,367	4,996	4,637	4,796	4,652	5,215	3,694	4,065	3,728	1,686	1,415	1,609	1,558	1,725	1,375	1,155	1,454	1,322	1,112
Information Technology And Data Processing
6,934	2,911	2,247	2,200	2,507	2,162	2,056	2,000	2,009	1,897	2,046	2,069	1,998	1,991	1,862	1,606	1,657	1,287	1,364	1,543	1,454	1,430	1,289	1,485	1,815	2,839	2,729	2,335	2,643	-	-	-	-	-	-	-	-	-	-
Professional Fees
5,789	4,332	3,662	3,427	3,208	3,525	3,077	3,146	2,694	2,831	3,113	3,225	3,237	3,551	2,889	2,810	2,985	2,649	4,000	4,143	4,181	4,471	3,807	3,512	4,206	5,059	4,409	5,375	6,478	1,014	5,844	5,222	5,420	6,299	5,308	5,750	5,448	5,480	3,920
General Insurance Expense (Income)
3,478	-	-366	-	1,146	-	1,620	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, other than payroll and income taxes
3,177	2,218	2,235	2,142	2,154	2,198	2,175	2,384	2,260	2,179	2,243	2,393	2,372	2,396	2,385	2,330	2,671	2,629	2,649	2,703	1,479	3,404	3,494	3,776	3,735	3,761	4,024	5,132	2,622	1,344	1,091	-107	1,174	1,299	1,184	858	1,380	1,641	1,261
Gain (Loss) On Sale Of Foreclosed Real Estate, Other Repossessed Assets And Credit Related Expenses
-2,522	-2,659	-2,889	-2,584	-3,366	-10,962	-3,946	-2,289	3,645	-19,183	1,714	2,217	2,626	2,090	3,719	2,203	2,255	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advertising Expense
1,629	1,349	1,333	1,315	1,211	1,384	1,329	1,024	1,347	1,411	1,405	1,405	1,395	1,550	1,347	1,294	1,294	1,688	1,577	1,558	1,629	1,739	1,825	1,669	1,781	2,475	1,471	1,670	1,409	2,248	1,594	1,564	848	1,591	1,686	1,508	1,192	1,275	1,364
General Insurance Expense
-	-	-	1,277	-	-	-	1,482	1,478	-	1,052	1,183	1,600	1,562	1,242	3,155	3,150	3,100	2,263	2,251	1,953	2,324	2,099	2,333	2,074	1,566	1,828	2,723	2,678	1,886	1,594	1,442	1,820	1,709	1,302	1,646	1,985	1,651	1,733
Loan Servicing And Cleaning Expenses
1,343	1,290	1,194	1,160	1,209	1,171	1,251	1,227	1,161	1,100	1,134	1,270	1,189	1,307	2,844	1,966	2,130	2,275	1,976	2,594	2,353	1,968	1,870	1,669	2,060	2,096	2,133	1,884	1,475	780	607	955	967	906	975	1,076	1,021	1,022	793
Loss on sale of foreclosed real estate and other reossessed assets
-	-	-	-	-	-	-	-	-	-	1,395	1,787	1,326	1,219	2,970	4,163	1,930	-1,839	16,601	10,337	5,447	4,240	7,842	6,656	6,387	3,682	5,703	3,717	3,382	4,883	1,060	936	749	1,739	606	761	723	694	523
Loss on sale foreclosed real estate and other repossesed asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,203	886	-	-	-	-	-	-	-
Communication
971	759	956	859	741	820	927	815	885	733	855	913	914	1,087	748	581	963	1,573	774	770	691	840	820	813	957	896	782	835	864	455	391	392	389	287	391	425	397	826	735
Printing, postage, stationary and supplies
722	582	672	636	578	469	499	605	644	549	586	665	637	631	602	600	725	732	624	582	637	714	620	645	554	618	824	851	1,166	325	299	322	308	328	292	362	282	299	292
NoninterestExpenseDirectorAndInvestorRelations
310	282	374	330	230	-	223	337	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring charges
304	21,498	1,556	1,000	0	-240	0	0	240	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,601	2,252	5,273	5,534	4,990	0	0	0	-	-	-	-	-	-
Other
3,572	4,930	663	2,008	2,650	2,009	1,369	4,311	2,416	18	1,526	2,110	1,662	3,568	2,487	1,321	1,299	2,085	1,949	3,673	2,031	2,237	3,660	2,889	2,836	1,458	2,295	2,295	2,129	1,183	873	671	886	787	770	1,372	518	927	892
Director and Investors Relations
-	-	-	-	-	-	-	-	-	-	221	274	280	275	233	301	278	262	246	289	294	312	250	293	251	255	230	377	236	230	158	342	309	327	352	339	287	396	388
Total non-interest expense
87,322	78,913	50,727	51,452	52,152	51,719	50,941	52,300	52,121	46,662	50,469	52,816	51,684	52,382	54,926	53,825	54,857	58,646	69,090	64,437	56,332	61,898	59,575	59,848	61,404	65,406	63,234	68,687	66,809	41,447	31,649	29,710	29,002	32,580	30,203	30,696	30,780	32,705	27,850
Income before income taxes
2,098	-3,061	8,391	34,876	35,044	43,274	35,355	29,244	24,927	18,759	3,879	21,097	24,354	26,404	18,747	20,197	19,832	-20,840	5,131	-2,340	-2,009	27,449	27,530	31,922	35,532	29,608	26,206	5,605	28,318	-20,404	19,655	16,015	12,590	-16,681	17,368	25,076	9,553	-9,108	679
Income tax expense
297	-2,070	1,008	10,897	11,574	18,530	12,255	9,595	8,010	1,686	560	3,993	9,204	10,848	3,627	5,858	5,661	-19,864	562	769	979	6,856	7,998	10,613	11,785	9,514	6,585	-31,934	7,126	-1,587	1,894	1,057	1,937	-4,795	580	-1,391	6,472	-1,287	34
Net income
1,801	-991	7,383	23,979	23,470	24,744	23,100	19,649	16,917	17,073	3,319	17,104	15,150	15,556	15,120	14,339	14,171	-976	4,569	-3,109	-2,988	20,593	19,532	21,309	23,747	20,094	19,621	37,539	21,192	-18,817	17,761	14,958	10,653	-11,886	16,788	26,467	3,081	-7,821	645
Dividends, Preferred Stock
1,628	1,628	1,628	1,628	1,628	1,628	3,466	3,465	3,465	3,466	3,465	3,466	3,465	3,466	3,465	3,466	3,465	3,466	3,465	3,466	3,465	3,466	3,465	3,466	3,465	3,466	3,465	3,466	3,465	4,498	3,039	1,201	1,201	1,200	1,201	1,200	1,201	1,200	1,733
Deemed dividend on preferred stock beneficial conversion feature
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	22,711	-
Less: Allocation of undistributed earnings for participating preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,104
Income available to common shareholders
173	-2,619	5,755	22,351	21,842	23,116	19,634	16,184	13,452	13,607	-146	13,638	11,685	12,090	11,655	10,873	10,706	-4,442	1,104	-6,575	-6,453	17,127	16,067	17,843	20,282	16,628	16,156	34,073	17,727	-23,315	14,722	13,757	9,452	-13,086	15,587	25,267	1,880	-31,732	-4,192
Earnings per common share:
Basic
0.00	-0.06	0.11	0.44	0.43	0.47	0.45	0.36	0.31	0.31	0.00	0.30	0.27	0.27	0.27	0.25	0.24	-0.11	0.03	-0.15	-0.14	0.37	0.36	0.40	0.45	0.36	0.35	0.75	0.39	-0.58	0.36	0.34	0.23	-0.28	0.35	0.56	0.04	0.75	-0.13
Diluted
0.00	-0.04	0.11	0.43	0.42	0.45	0.42	0.35	0.30	0.32	0.00	0.30	0.26	0.28	0.26	0.25	0.24	-0.11	0.03	-0.15	-0.14	0.36	0.34	0.38	0.42	0.34	0.34	0.68	0.37	-0.57	0.35	0.34	0.23	-0.28	0.35	0.56	0.04	0.75	-0.13
Weighted Average Number Of Share Outstanding Basic And Diluted
51,713	51,798	51,772	51,680	51,626	51,585	51,464	51,226	51,121	51,051	51,102	51,100	51,131	51,082	51,111	51,095	51,064	50,923	51,146	51,774	51,977	51,992	52,362	52,352	52,598	52,950	53,322	52,968	52,892	92,388	47,978	40,808	41	131,827	44	45	46,179	42,288	33,053
Cash dividends per share of common stock
0.07	0.07	0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.10	0.10	0.10	0.10	0.08	0.08	0.08	0.08	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.05	0.05	0.05	0.04	0.04