Ofg Bancorp · NYSE:OFG
Ofg Bancorp — IPO Roadshow (March 2026)
35 slides from Ofg Bancorp's IPO roadshow presentation, Mar 11, 2026
Slide 1: Fixed Income Investor Presentation March 2026
Fixed Income Investor Presentation March 2026 Issuer Free Writing Prospectus Filed pursuant to Rule 433 Supplementing the Preliminary Prospectus, dated March 11, 2026 Registration No. 333-[•]
Slide 2: Disclaimer and Caution About Forward-Looking Statements
Disclaimer and Caution About Forward-Looking Statements 2 OFG Bancorp (the "Company" or "OFG") has filed a registration statement, including a prospectus (the “Preliminary Prospectus”), with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Befo
Slide 3: Non-GAAP Financial Measures and Market and Industry Data
Non-GAAP Financial Measures and Market and Industry Data 3 Non-GAAP Financial Measures In addition to our financial information presented in accordance with GAAP, management uses certain non-GAAP financial measures within the meaning of the SEC Regulation G, including Tangible Common Equity (TCE), T
Slide 4: Overview of OFG Financial
Mortgage 17% Commercial 43% Consumer 8% Auto 32% Demand 57% Savings 22% Time 18% Brokered CD 3% Overview of OFG Financial Founded in 1964, serving retail and commercial customers throughout Puerto Rico and the U.S. Virgin Islands 3rd largest bank in Puerto Rico by deposits1 Proven leadership team wi
Slide 5: Experienced Executive Management Team
Mari Evelyn Rodríguez Mimoso Chief Retail Banking Officer Ms. Rodríguez leads business development for small business, residential mortgage and auto loan portfolios while holding additional oversight of Oriental Insurance, Oriental Financial Services and trust operations. She is recognized for expan
Slide 6: Corporate History
Corporate History $12.5B 1964 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2004: José Rafael Fernández named president; leads the transformation to a bank offering the full range of commerci
Slide 7: The OFG Investment Thesis
The OFG Investment Thesis Favorable economic outlook for Puerto Rico: historically low unemployment, strong business and retail activity, and long-term capital investment from the Federal government and private sector •1 Leading Puerto Rico franchise with scaled presence and strong local brand •2 Co
Slide 8: History of Steady Growth
History of Steady Growth 8 Source: OFG company documents and S&P Capital IQ Pro; Financial data for the end of each period presented per public filings. Total Assets ($B) 2021Y 2022Y Total Deposits ($B) Gross Loans ($B) 2021Y 2022Y 2023Y Tangible Common Equity1 ($B) $9.9 $9.8 $11.3 $11.5 $12.5 2023Y
Slide 9: Consistent Top-Tier Profitability Versus Peers
2.08% 2.65% 3.20% 2.97% 2.83% 1.75% 1.54% 1.42% 1.67% 1.63% 1.77% 2.13% 1.85% 1.91% 2021Y 2022Y Annual ROAE 2023Y 2024Y 2025Y Consistent Top-Tier Profitability Versus Peers 16.0% 16.4% 15.8% 15.3% 11.1% 9.3% 9.9% 9.7% 14.4% 13.5% 13.1% 18.5% 15.0% 13.9% 15.2% PR Peers 2021Y 2022Y 2023Y 2024Y 2025Y 2
Slide 10: Puerto Rico Economic Trends and Outlook
925K 850K 775K 700K 1,000K 2017 2018 2019 2020 2021 2022 2023 2024 2025 Recent Puerto Rico Manufacturing Expansion Announcements Investment $1.2B $650M $46M $64M $45M $17M $6M $6M $6M $31M $1.5M $8M Jobs 1,000 750 100 250 180 46 168 10 36 90 200 400 Industry Pharma Solar Medical Devices/Products Ele
Slide 11: Digital First: Leader in Puerto Rico Banking Innovation
Digital First: Leader in Puerto Rico Banking Innovation 12.9% 24.5% 2023 2025 Digital Service Usage 142K 169K 46.7% 63.3% 2023 2025 60.8% 71.4% 2023 2025 2023 2025 Self Service Payments Key Digital Performance Metrics 90-Day Active Users Digital Account Open +19.6% +90.2% +17.4% +35.5% For more than
Slide 12: OFG Recognition
Oriental Bank awarded the 2024 Silver Lender of the Year for the Puerto Rico and US Virgin Islands region for the second year OFG Recognition Ranked in the Top 10 on the 2024 S&P Global list of top U.S. banks by financial performance with more than $10B in assets Ranked in the Top 10 on the 2025 Ame
Slide 13: Financial Performance
=== Financial Performance
Slide 14: Operational Highlights
Operational Highlights Loans ($B, Avg. Balance) Core Deposits1 ($B, Avg. Balance) New Loan Origination ($M) 1Q25 2Q25 3Q25 4Q25 Loan Yield 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Core Deposit Cost1 Includes Non-Interest-Bearing Deposits, Before Fair Value Amortization from Scotiabank Deposits 3Q24 4Q24 1Q25 2
Slide 15: Financial Highlights
Financial Highlights Net Income ($M) Pre Provision Net Revenues1 ($M) Total Core Revenues1 ($M) 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 ROAA & PPNR ROAA1 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 ROATCE1 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Efficiency Ratio $47.0 $50.3 $45.6 $51.8 $51.8 $55.9 $83.1 $83.0 $85.1 $87.6 $89.6 $79.3
Slide 16: Historical Capital Levels
Historical Capital Levels Tangible Common Equity / Tangible Assets1 2021Y 2022Y 2023Y Common Equity Tier 1 Ratio Tier 1 Leverage Ratio 2021Y 2022Y 2023Y Total Risk Based Capital Ratio 9.7% 9.6% 9.7% 10.1% 10.5% 2024Y 2025Y 9.7% 10.4% 11.0% 10.9% 10.7% 2024Y 2025Y 13.8% 13.6% 14.1% 14.3% 14.0% 2021Y
Slide 17: Lending & Asset Quality
Lending & Asset Quality
Slide 18: Diversified Loan Portfolio
$740M $156M $957M $150M $304M $836M $433M $835M $180M $289M Commercial PR Commercial US Auto Mortage Consumer 1.6% NPLs / Total Loans 1.0% NCOs / Avg Loans 30.2% 29.1% 30.8% 30.8% 32.4% 6.9% 9.4% 10.0% 9.0% 10.1% 26.7% 28.7% 30.2% 32.7% 32.2% 29.8% 24.9% 20.7% 18.9% 17.0% 6.4% 7.9% 8.2% 8.6% 8.3% $6
Slide 19: Commercial Loan Portfolio
Shopping Centers 25% Hotel 25% Office Space 18% Fast Foods 3% Assisted Living 3% Courthouses 4% Warehouse Buildings 5% Retail Space 13% Marinas 2% All Others 2% Warehouse Buildings 35% Hospitals 21% Educational Facilities 13% Medical Office 6% Light Industrial 3% Office Space 4% Retail Space 5% All
Slide 20: Auto, Mortgage and Consumer Loan Portfolios
Auto Loan Portfolio1 Mortgage Loan Portfolio Auto, Mortgage and Consumer Loan Portfolios Source: OFG company documents and S&P Capital IQ Pro; Financial data for the end of each period presented per public filings (1) FICO scores reflect updated FICO scores as of December 31, 2025 $2.6B Auto Portfol
Slide 21: Historical Asset Quality Trends
Historical Asset Quality Trends Non-Performing Loans / Total Loans 2021Y 2022Y Net Charge Offs / Average Loans 1.75% 1.46% 1.13% 1.06% 1.59% 2023Y 2024Y 2025Y 0.76% 0.42% 0.73% 0.89% 1.00% 2021Y 2022Y 2023Y 2024Y 2025Y Asset quality and credit metrics are sound and well-controlled Increase in 2025 n
Slide 22: Reserves
Reserves $156 $153 $161 $176 $202 2.44% 2.23% 2.14% 2.26% 2.47% 2021Y 2022Y Reserves / Non-Performing Assets (%) 2023Y 2024Y 2025Y ACL / Gross Loans HFI Allowance for Credit Losses ($M) 120.9% 22 132.0% 161.1% 187.9% 148.8% 2021Y 2022Y 2023Y 2024Y 2025Y
Slide 23: Deposits & Liquidity
Deposits & Liquidity
Slide 24: Deposits
0.1% 0.1% 1.7% 1.6% 56.7% 55.7% 57.4% 54.1% 52.9% 29.1% 30.7% 26.0% 26.0% 25.6% 2.3% 2.0% 3.9% 6.1% 6.3% 11.7% 11.4% 11.1% 12.2% 11.9% $8,603 $8,568 $9,762 $9,605 $10,263 2021Y 2022Y Brokered 2023Y 2024Y 2025Y 0.44% 0.88% 1.56% 1.53% 0.13% 0.27% 1.72% 2.29% 1.96% 0.21% 0.36% 0.33% 1.41% 1.80% 1.60%
Slide 25: Liquidity
Liquidity Unrestricted Cash & Equivalents $1,040M Unencumbered Securities $1,056M FHLB $351M Fed Discount Window $2,286M Liquidity Sources $4.7B available liquid funds and borrowing capacity 74% 80% 77% 81% 80% 2021Y 2022Y 2023Y 2024Y 2025Y Loans HFI / Total Deposits 26% (1) Reflects cash, cash equi
Slide 26: Securities Portfolio
$225M FNMA & FHLMC $2,016M FNMA & FHLMC $491M GNMA $2.6M CMOS issued by US GSEs $1.7M US Treasuries $0.5M Other Debt Securities Securities Portfolio $2.5B $0.2B AFS Securities ~90% of Portfolio Portfolio: $2,511M (fair value) Yield: 4.43% Unrealized Losses: $18M / 1% Average Life: 7.7 years HTM Secu
Slide 27: Appendix
Appendix
Slide 28: Pro Forma OFG + Offering: Double Leverage and Interest Coverage
Pro Forma OFG + Offering1 Fiscal Year Ended, 2021 2022 2023 2024 2025 ($ in millions) 2025 Double Leverage Bank-Level Equity $1,011 $938 $1,095 $1,189 $1,332 $1,500 Consolidated Equity 1,069 1,042 1,193 1,254 1,390 1,390 Double Leverage Ratio 95% 90% 92% 95% 96% 108% Interest Coverage Earnings: Inco
Slide 29: Reserves by Loan Category
ACL by % of Portfolio 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Auto 3.23 % 3.26 % 3.33 % 3.26 % 3.44 % 3.51 % 3.48 % 3.39 % 3.51 % Commercial 1.47 % 1.26 % 1.12 % 1.19 % 1.46 % 1.52 % 1.61 % 1.87 % 1.90 % Residential Mortgages 0.98 % 0.94 % 0.84 % 0.83 % 0.74 % 0.70
Slide 30: Credit Quality Detail
Credit Quality Detail 30 *3Q24 reflects booking of the GNMA buy-back option program related to the late August 2024 mortgage servicing portfolio acquisition NCO Rate NPL Rate Early Delinquency Rate Total Delinquency Rate*
Slide 31: Core Non-Interest Income
Core Non-Interest Income ($M) Total 31 Banking Services Wealth Management Mortgage Banking
Slide 32: Non-GAAP Measures Definitions
Non-GAAP Measures Definitions 32 OFG reports certain financial measures that are not in accordance with GAAP. These non-GAAP financial measures are provided as supplemental information to the financial measures in this report that are calculated and presented in accordance with GAAP. Non-GAAP financ
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations (in thousands, except ratio data) As of or for the Quarters Ended, As of or for the Years Ended December 31, Tangible Common Equity and Tangible Assets 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2025 2024 2023 2022 2021 Total Stockholders' Equity $ 1,390,005 $ 1,375,417 $ 1,3
Slide 34: Core Deposits / Cost of Core Deposits (Average)
Core Deposits / Cost of Core Deposits (Average) 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 Average Balance NOW Accounts $ 3,211,013 $ 3,208,598 $ 3,211,382 $ 3,193,088 $ 3,282,808 $ 3,395,425 Savings Accounts 2,258,856 2,215,538 2,119,036 2,093,431 2,038,523 2,009,028 Time Deposits 1,840,618 1,854,32
Slide 35: Thank you.
Thank you.