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About
OFG Bancorp operates as a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Banking, Wealth Management, and Treasury. The Banking segment includes its branches and traditional banking products such as deposits and commercial, consumer and mortgage loans. The Wealth Management segment involves in financial planning, money management and investment banking, brokerage services, insurance sales activity, corporate and individual trust and retirement services, and retirement plan administration services. The Treasury segment encompasses all its asset and liability management activities, such as purchases and sales of investment securities, interest rate risk management, derivatives, and borrowings. The company was founded in 1964 and is headquartered in San Juan, Puerto Rico. | |||
Description
OFG Bancorp, a financial holding company, provides various banking and financial services primarily in Puerto Rico. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; mortgage, commercial, consumer, and auto lending products; financial planning, insurance, financial service, and investment brokerage; and corporate and individual trust, and retirement services. It also offers securities brokerage services, including various investment alternatives, such as tax-advantaged fixed income securities, mutual funds, stocks, and bonds to retail and institutional clients; separately-managed accounts and mutual fund asset allocation programs; and trust, retirement planning, insurance, pension administration, and other financial services. In addition, the company is involved in the management and participation in public offerings and private placements of debt and equity securities; insurance agency business; and administration of retirement plans in the United States, Puerto Rico, and the Caribbean. Further, it is involved in various treasury-related functions with an investment portfolio consisting of mortgage-backed securities, obligations of U.S. government sponsored agencies, Puerto Rico government and agency obligations, and money market instruments. The company operates through a network of 48 branches in Puerto Rico. OFG Bancorp was founded in 1964 and is based in San Juan, Puerto Rico. |