OFG BANCORP
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Consolidated Statements of Changes in Stockholders’ Equity
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES
IN STOCKHOLDERS’ EQUITY
| Quarter Ended September 30, | Nine-Month Period Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (In thousands) | ||||
| Common stock: | ||||
| Balance at the beginning and end of period | 59,885 | 59,885 | 59,885 | 59,885 |
| Additional paid-in capital: | ||||
| Balance at beginning of period | 637,895 | 636,051 | 638,667 | 636,793 |
| Stock-based compensation expense | 1,592 | 1,354 | 4,722 | 3,723 |
| Lapsed restricted stock units | — | (16) | (3,902) | (3,127) |
| Balance at end of period | 639,487 | 637,389 | 639,487 | 637,389 |
| Legal surplus: | ||||
| Balance at beginning of period | 160,560 | 142,567 | 150,967 | 133,901 |
| Transfer from retained earnings | 4,430 | 4,207 | 14,023 | 12,873 |
| Balance at end of period | 164,990 | 146,774 | 164,990 | 146,774 |
| Retained earnings: | ||||
| Balance at beginning of period | 706,807 | 577,042 | 639,324 | 516,371 |
| Net income | 47,000 | 44,873 | 147,823 | 135,275 |
| Cash dividends declared on common stock[1] | (11,562) | (10,242) | (35,309) | (31,307) |
| Transfer to legal surplus | (4,430) | (4,207) | (14,023) | (12,873) |
| Balance at end of period | 737,815 | 607,466 | 737,815 | 607,466 |
| Treasury stock: | ||||
| Balance at beginning of period | (250,951) | (226,230) | (228,350) | (211,135) |
| Stocks repurchased | (104) | (2,186) | (24,386) | (18,653) |
| Lapsed restricted stock units and options | — | 42 | 1,681 | 1,414 |
| Balance at end of period | (251,055) | (228,374) | (251,055) | (228,374) |
| Accumulated other comprehensive loss, net of tax: | ||||
| Balance at beginning of period | (86,494) | (89,564) | (67,013) | (93,409) |
| Other comprehensive gain (loss), net of tax | 53,504 | (38,113) | 34,023 | (34,268) |
| Balance at end of period | (32,990) | (127,677) | (32,990) | (127,677) |
| Total stockholders’ equity | $1,318,132 | $1,095,463 | $1,318,132 | $1,095,463 |
[1] Dividends declared per common share during the quarter ended September 30, 2024 - $0.25 (September 30, 2023 - $0.22). Dividends declared per common share during the nine-month period ended September 30, 2024 - $0.75 (September 30, 2023 - $0.66).
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.