Ofg Bancorp (Puerto Rico)

The Company, a publicly-owned financial holding company, provides various financial products and services primarily in Puerto Rico. The Company is headquartered in San Juan, Puerto Rico. The Company is also listed in New York Stock Exchange.
The Company provides comprehensive banking and financial services to its clients through a complete range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage; and corporate and individual trust and retirement services. The Company operates through three major business segments: Banking, Wealth Management, and Treasury, and distinguishes itself based on quality service and marketing efforts focused on mid and high net worth individuals and families, including professionals and owners of small and mid-sized businesses, primarily in Puerto Rico. The Company provides these services through various subsidiaries including, a commercial bank, Oriental Bank, a securities broker-dealer, Oriental Financial Services Corp., an insurance agency, Oriental Insurance, Inc. and a retirement plan administrator, Caribbean Pension Consultants, Inc. (“CPC”). All of their subsidiaries are based in San Juan, Puerto Rico, except for CPC which is based in Boca Raton, Florida.
The Company's principal funding sources are branch deposits, securities sold under agreements to repurchase, Federal Home Loan Bank advances, Federal Reserve Bank advances, wholesale deposits, and subordinated capital notes. Through its branch network, Oriental Bank offers personal non-interest and interest-bearing checking accounts, savings accounts, certificates of deposit, individual retirement accounts and commercial non-interest bearing checking accounts. The FDIC insures Oriental Bank's deposit accounts up to applicable limits. Management makes retail deposit pricing decisions periodically, adjusting the rates paid on retail deposits in response to general market conditions and local competition. Pricing decisions take into account the rates being offered by other local banks, the London Interbank Offered Rate, and mainland U.S. market interest rates.
History
1996 - incorporated as a publicly-owned financial holding company on June 14, 1996 under the laws of the Commonwealth of Puerto Rico
2012 - On December 18, 2012, the Company purchased from Banco Bilbao Vizcaya Argentaria, S. A. (“BBVA”), all of the outstanding common stock of each of (i) BBVAPR Holding Corporation (“BBVAPR Holding”), the sole shareholder of Banco Bilbao Vizcaya Argentaria Puerto Rico (“BBVAPR Bank”), a Puerto Rico chartered commercial bank, and BBVA Seguros, Inc. (“BBVA Seguros”), a subsidiary offering insurance services, and (ii) BBVA Securities of Puerto Rico, Inc. (“BBVA Securities”), a registered broker-dealer.
2013 - the Company changed its name from Oriental Financial Group Incorporated to OFG Bancorp on April 25,2013.