{"url_path":"/sec/ofg/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1030469/0001030469-26-000027-index.html","accession_number":"0001030469-26-000027","cik":"0001030469","ticker":"OFG","issuer_name":"OFG BANCORP","edgar_url":"https://www.sec.gov/Archives/edgar/data/1030469/0001030469-26-000027-index.html","primary_entity_key":"0001030469","primary_entity_name":"OFG BANCORP"},"word_count":255,"has_tables":true,"body_markdown":"ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS\n\nIn January 2026, the Board approved a new $200.0 million stock repurchase program in addition to the $100.0 million stock repurchase program approved in April 2025. 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.\n\nDuring the quarter ended March 31, 2026, OFG repurchased 1,097,953 shares for a total of $44.5 million at an average price of $40.51 per share, under the Existing Repurchase Programs.\n\n97\n\nThe 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 March 31, 2026:\n\nPeriodTotal number of\nshares purchasedAverage price paid\nper shareTotal number of\nshares purchased\nas part of publicly\nannounced programsMaximum approximate\ndollar value of shares\nthat may yet be purchased\nunder the programs\n\n(In thousands, except per share data)\n\n1/31/2026184,527 $38.37 184,527 $231,000 \n\n2/28/2026646,244 41.66 646,244 204,079 \n\n3/31/2026267,182 39.19267,182 193,608 \n\nTotal1,097,953 $40.51 1,097,953 $193,608 \n\nAt March 31, 2026, the estimated remaining number of shares that may be purchased under the Existing Repurchase Programs is 4,785,159 and was calculated by dividing the remaining balance of $193.6 million by $40.46 (closing price of OFG’s common stock at March 31, 2026). OFG did not repurchase any shares of its common stock during the quarter ended March 31, 2026, other than through its publicly announced stock repurchase programs."}