OFG BANCORP
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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Jun 30, 2025 · Filed Aug 7, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
In April 2025, the Board of Directors approved a new $100 million stock repurchase program in addition to the $50 million stock repurchase program approved in October 2024 (collectively,“the repurchase programs”). The shares of common stock repurchased are held by OFG as treasury shares. OFG records treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock.
Under the repurchase programs, OFG repurchased 768,423 shares and for a total of $31.1 million at an average price of $40.46 per share during the six-month period ended June 30, 2025.
The table below sets forth the information with respect to purchases of our common stock made by or on behalf of OFG during the quarter ended June 30, 2025:
| Period | Total number ofshares purchased | Average price paidper share | Total number ofshares purchasedas part of publiclyannounced programs | Maximum approximatedollar value of sharesthat may yet be purchasedunder the programs |
|---|---|---|---|---|
| (In thousands, except per share data) | ||||
| 4/1/2025 - 4/30/2025 | 11,100 | $38.94 | 11,100 | $105,852 |
| 5/1/2025 - 5/31/2025 | 122,215 | 41.75 | 122,215 | 100,750 |
| 6/1/2025 - 6/30/2025 | 52,709 | 41.00 | 52,709 | 98,589 |
| Total | 186,024 | $41.37 | 186,024 | $98,589 |
At June 30, 2025, the estimated remaining number of shares that may be purchased under the new repurchase program is 2,303,476 and was calculated by dividing the remaining balance of $98.6 million by $42.80 (closing price of OFG’s common stock at June 30, 2025).
OFG did not repurchase any shares of its common stock during the six-month periods ended June 30, 2025 and 2024 other than through its publicly announced stock repurchase programs.
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