Oriental Bank (“the bank”) is a wholly-owned subsidiary of Oriental Financial Group (NYSE: “OFG” or “company”), a financial holding company domiciled in Puerto Rico (“PR” or “the Commonwealth”). The bank constitutes 99% of consolidated total assets. The holding company has no debt outstanding.
OFG provides comprehensive banking and financial services, including commercial and consumer lending (sizeable businesses in resi mortgage and auto finance), insurance (agent), investment brokerage, trust and retirement services, and mortgage loan servicing.
OFG’s all-cash acquisition of Bank of Nova Scotia’s Puerto Rican (“BNS PR”) and USVI banking operations in 2019, contributed about $3 billion in deposits and 19 banking offices.
OFG conducts business predominately in PR, where it maintains a significant deposit market share among the three locally chartered banks.
OFG’s strategic objectives include to grow its deposit franchise by…
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