OFG Bancorp (OFG), a retail banking company, on Wednesday reported a rise in net earnings for the fourth-quarter, above analysts' estimates.
For the three-month period, the lender posted a net income per share of $0.98, higher than $0.97 per share, recorded for the same period last year.
On average, four analysts polled by Thomson Reuters had expected the bank to earn $0.93 per share, for the quarter. Analysts' estimates typically exclude special items.
Total interest income climbed to $176.2 million from $145.7 million in 2022.
Total provision for credit losses stood at $19.7 million, higher than last year's $8.8 million.
Total noninterest expense stood at $94.1 million, compared with $91.6 million a year ago.
Total core revenues for the period were $175.6 million, up from $168.3 million in 2022.
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