OFG Bancorp Q3 Net Income Rises to $56.6 Million, EPS Up 14.7%

OFG Bancorp (OFG), the financial holding company for Oriental Bank, reported third quarter net income available to common stockholders of $56.6 million, up from $51.8 million a year ago. Earnings per share rose to $1.33 from $1.16. Total core revenues were $185.7 million, compared with $184.0 million last year. CEO José Rafael Fernández attributed the results to commercial loan growth, stable credit quality and core deposit balances, disciplined expense management, and healthy profitability, citing year-over-year increases of 14.7% in EPS and 1.0% in core revenues. OFG Bancorp shares last traded at $52.95 on the NYSE.