OFG Bancorp to Acquire Scotiabank Operations in Puerto Rico and US Virgin Islands
OFG Bancorp (OFG)
Last ofg bancorp earnings: 4/29 07:30 am
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US:NYSE Investor Relations:
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Source: Business Wire
Conference Call Thursday at 10:00 AM ET SAN JUAN, Puerto Rico--(BUSINESS WIRE)--OFG Bancorp (NYSE: OFG) and Scotiabank (NYSE: BNS) today announced the signing of a definitive agreement for OFG’s subsidiary, Oriental Bank, to acquire Scotiabank’s Puerto Rico operation for $550 million in cash and Scotiabank’s US Virgin Island (USVI) branch operation for a $10 million deposit premium.Scotiabank’s Puerto Rico and USVI operations will be merged into Oriental Bank and its related businesses. The acquisition is subject to customary regulatory approvals.Acquisition HighlightsStrengthens OFG businesses with enhanced scale, the addition of Scotiabank’s talented team, and improves Oriental’s competitive position as Puerto Rico’s premier retail bankOriental becomes the second largest in Puerto Rico in core deposits, branches, automated and interactive teller machines, and mortgage servicingExpected to be approximately 40% accretive to OFG’s EPS in 2020 with robust capital generation and signi
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OFG
News
- OFG Bancorp (NYSE: OFG) had its price target raised by analysts at Keefe, Bruyette & Woods from $49.00 to $53.00. They now have an "outperform" rating on the stock.MarketBeat
- OFG Bancorp (NYSE: OFG) had its price target raised by analysts at Wells Fargo & Company from $48.00 to $49.00. They now have an "overweight" rating on the stock.MarketBeat
- OFG Bancorp's (NYSE:OFG) five-year earnings growth trails the strong shareholder returns [Yahoo! Finance]Yahoo! Finance
- OFG Bancorp Declares Regular Quarterly Common Stock DividendBusiness Wire
- OFG Bancorp Announces New $50 Million Share Repurchase PlanBusiness Wire
OFG
Earnings
- 10/16/24 - Miss
OFG
Sec Filings
- 12/6/24 - Form 4
- 12/5/24 - Form 144
- 12/4/24 - Form 144
- OFG's page on the SEC website