OFG Bancorp (NYSE: OFG) is a Puerto Rico-based bank holding company that operates Oriental Bank, a full-service commercial bank headquartered in San Juan, Puerto Rico. The company makes money through net interest income on commercial, consumer, auto, and residential mortgage loans, as well as through fees from wealth management activities including securities brokerage, insurance, trust services, and investment advisory. Oriental Bank operates branches throughout Puerto Rico and in the U.S. Virgin Islands, with an additional commercial lending subsidiary, OFG USA, operating out of Charlotte, North Carolina. The bank competes with other Puerto Rico-chartered commercial banks, credit unions, savings and loan cooperatives, brokerage firms, mortgage banks, and small loan companies. OFG also participates in U.S. mainland commercial and industrial loan markets through participation in credit facilities managed alongside commercial and investment banks. Wealth management is conducted through wholly owned subsidiaries including Oriental Financial Services, a registered broker-dealer and FINRA member.

Revenue model

Net interest income from commercial, consumer, auto, and mortgage loan portfolios; fee income from securities brokerage, investment advisory, insurance agency, captive reinsurance, corporate trust services, and deposit products.

Products and services

Commercial loans, consumer loans (personal loans, residential solar panel loans, credit cards, lines of credit), auto loans, residential mortgage loans, savings and time deposit products, corporate trust services, securities brokerage, investment advisory, separately managed accounts, mutual fund asset allocation programs, insurance agency, captive reinsurance, international banking entity services.

Customers and end markets

Retail banking customers in Puerto Rico and the U.S. Virgin Islands; commercial borrowers in Puerto Rico and the U.S. mainland; institutional and retail investment clients; auto loan customers sourced through dealer networks; individual mortgage borrowers.

Value-chain role

Deposit-taking commercial bank and wealth management provider; originates and holds loans; distributes investment products from unaffiliated asset managers; participates in syndicated commercial and industrial credit facilities on the U.S. mainland.

Geographic exposure

Primary market is Puerto Rico; additional branches in the U.S. Virgin Islands; U.S. mainland commercial lending operations based in Charlotte, North Carolina (OFG USA); international banking entity operations limited to persons and assets outside Puerto Rico under the IBE Act.

Competitors

Puerto Rico-chartered commercial banks, Credit unions, Savings and loan cooperatives, Brokerage firms with retail operations in Puerto Rico, Mortgage banks, Small loan companies, Insurance agencies, Commercial and investment banks (U.S. mainland loan participations)

Source: SEC 10-K, filed 2026-02-25

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