Oriental Bank reports solid Q3 2026 results with higher year-over-year earnings
OFG Bancorp, parent of Oriental Bank, posted net income of $56.61 million for the quarter ended Sept. 30, 2026, up 9.2 percent from a year earlier, while core revenues rose slightly on an annual basis.
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- El Vocero reported that core revenues reached $185.7 million in Q3 2026 versus $184.0 million in Q3 2025 and $190.3 million in Q2 2026
- Sin Comillas reported net income of $56.61 million or $1.34 per diluted share in Q3 2026 compared with $51.84 million or $1.17 a year earlier and $58.78 million in Q2
- Both outlets quoted CEO José Rafael Fernández saying the bank saw continued commercial loan growth, stable credit quality, disciplined expense management and healthy profitability
- Sin Comillas reported loan originations fell 8.1 percent to $693.8 million from the prior quarter while the provision for loan losses rose to $18.1 million
Quarterly financial performance
OFG Bancorp (NYSE: OFG), the parent company of Oriental Bank, released its third-quarter 2026 results on Wednesday. According to El Vocero, core revenues totaled $185.7 million for the quarter ended Sept. 30, compared with $190.3 million in the second quarter of 2026 and $184.0 million in the third quarter of 2025. Diluted earnings per share were $1.33, versus $1.39 in the previous quarter and $1.16 a year earlier.
Sin Comillas reported net income reached $56.61 million, or $1.34 per diluted share, in the third quarter of 2026. That compares with net income of $51.84 million, or $1.17 per share, in the same quarter of 2025 and $58.78 million in the second quarter of 2026. Sin Comillas noted that shares of OFG closed the previous day up 1.46 percent at $52.95.
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What the sources posted
Posts and statements below are the sources' own words, quoted as published. They are not independently verified.
Nuestros resultados reflejan el impulso continuo en el crecimiento de los préstamos comerciales, la estabilidad en la calidad crediticia y los depósitos medulares, una gestión disciplinada de los gastos y una rentabilidad saludable.
Our translation: Our results reflect the continued momentum in commercial loan growth, stability in credit quality and core deposits, disciplined expense management and healthy profitability.
The source's own statement, as quoted by El Vocero. Not verified by PuertoRico.com.
CEO comments on performance and economy
José Rafael Fernández, chief executive officer of OFG Bancorp, described the quarter as solid. Both outlets quoted him saying the results reflect continued momentum in commercial loan growth, stability in credit quality and core deposits, disciplined expense management and healthy profitability. El Vocero reported that the bank repurchased $13.5 million in common shares.
Fernández told reporters that the Puerto Rico economy remains stable, supported by a healthy labor market and continued expansion of local and mainland U.S. businesses. He also noted the bank continues to advance its digital banking strategy with a human touch, citing adoption of digital tools and growth in accounts such as Libre+, Elite and My Biz.
Other financial metrics
El Vocero reported total interest income reached $195.7 million in the third quarter, down from $197.2 million in the second quarter and $200.1 million a year earlier. The decline from the prior quarter was mainly due to the absence of $4.1 million from three fully paid commercial loans, partially offset by higher average loan and cash balances, higher yields and one additional business day.
According to Sin Comillas, the provision for loan losses increased to $18.1 million from $13.0 million in the second quarter and was below the $28.3 million recorded in the third quarter of 2025. Loan originations declined 8.1 percent to $693.8 million from $755.0 million in the prior quarter. Local deposits stood at $9,979.9 million on Sept. 30, 2026, down from $10,086.7 million a year earlier, while total assets rose 0.1 percent sequentially to $12,171.0 million.
Where the sources differ
Both El Vocero and Sin Comillas agree on the overall positive results, year-over-year growth in earnings per share of roughly 14.7 percent according to El Vocero and 9.2 percent net income growth per Sin Comillas, and on CEO José Rafael Fernández’s comments about commercial loan growth, credit quality, expense management, profitability and the stable Puerto Rico economy. They differ on some figures: El Vocero reports core revenues of $185.7 million and EPS of $1.33 while Sin Comillas reports net income of $56.61 million and EPS of $1.34; Sin Comillas provides additional details on loan originations, provisions for loan losses, deposit levels and total assets that El Vocero does not mention.
What the reports do not say
The reports do not disclose the exact amount of net income for the third quarter of 2025 in absolute dollars from El Vocero, full details on non-interest income or expense breakdowns, specific growth rates for different loan categories, or any forward-looking guidance on expected performance for the fourth quarter of 2026 or full-year results.
Sources
Every link below was opened and checked when this story was published. Official means a government body, agency or the organization itself; Reporting means a news outlet.
- Official Oriental Bank mantiene sus resultados positivos en el tercer trimestre
- Reporting Oriental Bank mantiene sus resultados positivos en el tercer trimestre
- Reporting Oriental gana un 9.2% más en el tercer trimestre
How we checked this
El Vocero and Sin Comillas both reported OFG Bancorp’s third-quarter 2026 earnings on Oct. 21, 2026, drawing from the company’s official release and comments by CEO José Rafael Fernández. Details on share repurchases, interest income components and digital strategy come solely from El Vocero, while loan originations, provisions, deposits and assets are reported only by Sin Comillas.
Compiled by the PuertoRico.com News Desk from the reports and statements listed above, and checked against them before publishing. It does not include original interviews. Spot an error? Email support@puertorico.com with a link to this story.