OFG Bancorp (OFG Bancorp) Credit Losses Provision : $66.31 Mil (As of Dec. 2023)

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What is OFG Bancorp Credit Losses Provision?

OFG Bancorp's credit losses provision for the three months ended in Dec. 2023 was $19.72 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $66.31 Mil.

OFG Bancorp's quarterly credit losses provision increased from Jun. 2023 ($15.04 Mil) to Sep. 2023 ($16.43 Mil) and increased from Sep. 2023 ($16.43 Mil) to Dec. 2023 ($19.72 Mil).

OFG Bancorp's annual credit losses provision increased from Dec. 2021 ($0.22 Mil) to Dec. 2022 ($24.12 Mil) and increased from Dec. 2022 ($24.12 Mil) to Dec. 2023 ($60.64 Mil).

OFG Bancorp Credit Losses Provision Historical Data

The historical data trend for OFG Bancorp's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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OFG Bancorp Credit Losses Provision Chart

OFG Bancorp Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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96.79

92.67

0.22

24.12

60.64

OFG Bancorp Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															9.45	15.04	16.43	19.72	15.12

OFG Bancorp Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $66.31 Mil.

OFG Bancorp (OFG Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » OFG Bancorp (NYSE:OFGpB.PFD) » Definitions » Credit Losses Provision

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OFG:USA OFP:Germany

Address

254 Munoz Rivera Avenue, San Juan, PRI, 00918

Website

https://www.ofgbancorp.com

OFG Bancorp is a financial holding company, through its subsidiaries provides banking and financial services. It operates through three segments namely Banking, Wealth Management, and Treasury. It serves to clients such as commercial, consumer, auto, and mortgage lending, checking and savings accounts, financial planning, insurance, financial services, and investment brokerage, and corporate and individual trust and retirement services. It provides services in the region of Puerto Rico.