Business Wire | Jul 28, 2021 04:42PM EDT

OFG Bancorp Announces New Share Repurchase Program of $50 Million

Jul. 28, 2021

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Jul. 28, 2021--OFG Bancorp (NYSE: OFG) today announced its Board of Directors approved a new stock repurchase authorization plan of $50.0 million as part of OFG's capital actions thus far in 2021. The new stock repurchase program replaces and supersedes the previous stock repurchase program approved by the Board.

About OFG Bancorp

Now in its 57th year in business, OFG Bancorp is a diversified financial holding company that operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance provide a wide range of retail and commercial banking, lending and wealth management products, services, and technology, primarily in Puerto Rico and U.S. Virgin Islands. Visit us at www.ofgbancorp.com.

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CONTACT: Puerto Rico & USVI: Idalis Montalvo (idalis.montalvo@orientalbank.com) at (787) 777-2847

CONTACT: US: Gary Fishman (gfishman@ofgbancorp.com) and Steven Anreder (sanreder@ofgbancorp.com) at (212) 532-3232