OFG Bancorp reported diluted earnings per share of $1.15 for the second quarter ended June 30, 2025, an increase from $1.00 in 1Q25 and $1.08 in 2Q24. Total core revenues reached $182.2 million, up from $178.3 million in 1Q25 and $179.4 million in 2Q24.
The company achieved record assets of $12.2 billion and loans held for investment of $8.2 billion, representing a 4.2% sequential increase and 7.08% year-over-year growth in loans. New loan production was $783.7 million, with increases across all lending channels in both Puerto Rico and the U.S.
Customer deposits increased by $138.7 million sequentially to $9.90 billion, reflecting higher time and savings deposit balances. OFG also launched new digital tools, including the Oriental Marketplace and a DGI Money Market fund, as part of its omnichannel digital strategy.
The provision for credit losses was $21.7 million, while net charge-offs declined to $12.8 million, or 0.64% of average loans, a decrease of $7.6 million sequentially. Early and total delinquency rates were 2.46% and 3.59%, respectively.
Management raised its guidance for full-year loan growth to nearly 6%, up from a prior range of 3% to 4%. Noninterest expenses are anticipated to remain within $95 million to $96 million per quarter, and the full-year effective tax rate is forecast at 24.9% for 2025. OFG also secured a new two-year $200 million FHLB advance at 4.13% and $82.5 million in additional brokered deposits to support growth.
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