Exhibit 99

OFG Bancorp Reports 4Q14 and 2014 Results

SAN JUAN, Puerto Rico, January 30, 2015 – OFG Bancorp (NYSE: OFG) today reported results for the fourth quarter and year ended December 31, 2014.

4Q14 Highlights

·         Income available to common shareholders totaled $17.1 million, or $0.36 per share diluted. This compares to $16.1 million, or $0.34 per share diluted, in the preceding quarter, and $16.6 million, or $0.35 per share diluted, in the year ago quarter.

·         Compared to the preceding quarter, 4Q14 primarily reflected a combination of lower interest income and lack of significant cost recoveries from acquired loans; higher originated loan balances and interest income and higher banking and wealth management revenues, and lower credit expenses, lower FDIC indemnification asset amortization, and lower recurring non-interest expenses.

·         4Q14 also included a non-recurring accrual of $3.8 million for a cost savings initiative planned for 2015 and a lower effective tax rate.

·         In addition, mortgage, auto and consumer loan production increased; demand deposit and savings account balances as a percentage of total deposits continued to grow; deposit costs continued to decrease; and Puerto Rico government related loan and investment security balances declined an additional 1.3%.

·         Performance metrics remained high. Net interest margin was a more normalized 5.65%, return on average assets was 1.09%, return on average tangible common stockholders’ equity was 10.16%, and the efficiency ratio was 52.41% (excluding the aforementioned accrual, the efficiency ratio was 49.19%).

·         Tangible book value per common share increased 2.9%, to $15.25, from the prior quarter. Book value per common share rose 2.6% to $17.40.

·         OFG repurchased 444,613 common shares, at an average price of $14.65 per share, as part of its current stock repurchase program, as previously announced. The Company’s strategy generally is to buy back shares when the price approaches TBV. OFG has bought back $83.3 million of shares over the last five years.

·         The Board of Directors increased OFG’s regular quarterly cash dividend per common share by 25%, to $0.10 per share, from $0.08 per share, as previously announced. The Board has raised the dividend four times over the past five years.

2014 Highlights

·         Income available to common shareholders was $71.3 million, or $1.50 per share diluted, compared to $84.6 million, or $1.74 per share diluted, last year. Excluding major non-recurring items, OFG earned $1.31 per share in 2013.

·         2014 performance metrics remained high, with net interest margin at a more normalized 5.84%, return on average assets of 1.10%, return on average tangible common stockholders’ equity of 10.91%, and an efficiency ratio of 49.90%.

CEO Comment

José Rafael Fernández, President, Chief Executive Officer, and Vice Chairman, commented:

“The fourth quarter reflects continued success in our core business segments. It also highlights the merits of our sound strategy in light of Puerto Rico’s tough economic environment.

“While we continue to harvest acquired loans, we are prudently originating new loans and optimizing both loan yields and credit costs. Concurrently, we are focused on managing our expense footprint and on further refining our loan servicing capabilities.

“Our primary goal is to both maximize profitability and build capital. We aim to preserve our flexibility so that we can pursue a range of alternatives to deploy our capital and increase shareholder return in a sustainable manner.

“We also exceeded 2013’s results on an adjusted basis. This was a significant accomplishment that highlights the success of our strategy as well as our ability to steer the institution in our operating environment.

“Our outlook for 2015 calls for preserving our performance characteristics, albeit with a small decline in interest earnings assets and net interest margin, while diligently managing our operating costs, differentiating ourselves in terms of our service delivery and innovation, and continuing to build our franchise.”

4Q14 Income Statement Highlights

The following compares data for the fourth quarter 2014 to the third quarter of 2014 unless otherwise noted.

·         Non-covered loan income declined $2.0 million, to $85.6 million, primarily due to a lower volume of acquired loans, partially offset by increased volume of originated loans.

·         Covered loan income declined $1.0 million, to $19.8 million, due to lower cost recoveries and balances as these loans continued to be repaid.

·         Investment securities interest income declined $1.2 million, to $10.6 million, primarily due to higher premium amortization.

·         Total interest expense increased less than $0.5 million, to $18.9 million, due to the absence of premium amortization on higher cost time deposits that matured in the previous quarter.

·         Cost of deposits fell to 65 bps from 68 bps. OFG’s funding profile continued to improve as the percentage of lower cost demand and savings deposits increased and higher cost time deposits declined.

·         Total provision for loan and lease losses was approximately level, declining $0.4 million, to $16.9 million.

·         Net Interest Margin declined 19 basis points, to 5.65%, due to lower interest income and the absence of premium amortization on higher cost time deposits.

·         Total core non-interest income increased $2.0 million, to $21.0 million. This was primarily due to expanded banking service revenues, reflecting seasonal credit and debit card activity.

·         FDIC indemnification asset amortization declined $5.0 million, to $12.0 million. The indemnification asset was $97.4 million at December 31, 2014 versus $120.6 million at September 30, 2014.

·         Recurring non-interest expenses fell $1.5 million, to $58.1 million. The decline primarily reflects reduced general and administrative expenses.

·         The effective income tax rate decreased to 24.98% from 29.05%. For the year, the estimated effective tax rate was 30.43%.

December 31, 2014 Balance Sheet Highlights

The following compares data as of December 31, 2014 to September 30, 2014 or for the fourth quarter of 2014 to the third quarter of 2014 unless otherwise noted.

·         Average interest earning assets of $6.8 billion declined 1.5%. Acquired loans declined 6.7% or $144.2 million due to scheduled maturities and a reduction of government loan balances, while originated loans increased 4.3% or $116.7 million.

·         Production of new loans (excluding renewals) declined marginally by $3.7 million, to $238.9 million. Mortgage, auto and consumer loan production increased. Commercial production declined, but remained significantly above the quarterly rate in the first half of 2014.

·         Puerto Rico government related loans and securities contractual balances fell $9.4 million, to $652.7 million, due to the pay down of central government loans. Year over year, PR government related loans and securities declined 24.1%, from $859.4 million at December 31, 2013.

·         Deposits  declined $144.8 million, to $4.9 billion, due primarily to reductions in higher cost time deposits and brokered deposits as this funding was no longer needed.

·         Stock repurchases totaled 444,613 shares, costing $6.5 million. Approximately $16.7 million of Board authorization remains. For all of 2014, OFG repurchased 1,152,113 common shares (equal to 2.52% of total shares issued and outstanding as of 12/31/13), at an average price of $14.66 each, for a total of $16.9 million.

·         Total stockholders’ equity increased $12.2 million, to $942.2 million, primarily reflecting the increase in retained earnings. An increase in other comprehensive income offset most of the increase in treasury stock from the stock buyback.

Credit Quality Highlights

The following compares data excluding acquired loans for the fourth quarter 2014 to the third quarter 2014 unless otherwise noted.

·         Net charge offs were down slightly, to $8.6 million, as we continue to make improvements in our collection efforts.

·         Total delinquency declined 28 basis points, to 8.99%, primarily due to improvements in mortgage servicing procedures.

·         Nonperforming loans increased $5.2 million, primarily due to inflows in the form of repurchases from GSEs and as well as TDRs, in mortgages.

·         Allowance for loan and lease losses increased $1.2 million, to $51.4 million.

Capital Position

The following compares data for the fourth quarter 2014 to the third quarter of 2014.

Regulatory capital ratios continued to be significantly above requirements for a well-capitalized institution.

·         Tangible common equity to total tangible assets increased to 9.25% from 8.81%, based on a 1.9% increase in tangible common equity, to $680.5 million, and a 2.9% decline in tangible assets, to $7.4 billion.

·         Tier 1 risk-based capital ratio increased to 16.02% from 15.96%, based on a 0.8% decline in Tier 1 capital, to $776.5 million, and a 1.2% decline in total risk weighted assets, to $4.8 billion. This decrease, despite lower risk weighted assets, is primarily due to an increase in our estimation of deferred tax asset used in the calculation of this ratio.

·         Total risk-based capital ratio declined to 17.57% from 17.50%, based on a 0.8% decline in total risk-based capital, to $851.4 million, and total risk weighted assets of $4.8 billion.

Conference Call

A conference call to discuss OFG’s results for the fourth quarter of 2014, outlook and related matters will be held today, Friday, January 30, 2015 at 10:00 AM Eastern Time. The call will be accessible live via a webcast on OFG’s Investor Relations website at www.ofgbancorp.com. A webcast replay will be available shortly thereafter. Access the webcast link in advance to download any necessary software.

Financial Supplement

OFG’s Financial Supplement, with full financial tables for the quarter and year ended December 31, 2014, can be found on the Webcasts, Presentations & Other Files page, on OFG’s Investor Relations website at www.ofgbancorp.com.

Forward Looking Statements

The information included in this document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements.

Factors that might cause such a difference include, but are not limited to (i) the rate of growth in the economy and employment levels, as well as general business and economic conditions; (ii) changes in interest rates, as well as the magnitude of such changes; (iii) a credit default by the government of Puerto Rico; (iv) the fiscal and monetary policies of the federal government and its agencies; (v) changes in federal bank regulatory and supervisory policies, including required levels of capital; (vi) the relative strength or weakness of the consumer and commercial credit sectors and of the real estate market in Puerto Rico; (vii) the performance of the stock and bond markets; (viii) competition in the financial services industry; and (ix) possible legislative, tax or regulatory changes.

For a discussion of such factors and certain risks and uncertainties to which OFG is subject, see OFG’s annual report on Form 10-K for the year ended December 31, 2013, as well as its other filings with the U.S. Securities and Exchange Commission. Other than to the extent required by applicable law, including the requirements of applicable securities laws, OFG assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.

About OFG Bancorp

Now in its 51^st  year in business, OFG Bancorp is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a full range of commercial, consumer and mortgage banking services, as well as financial planning, trust, insurance, investment brokerage and investment banking services, primarily in Puerto Rico, through 53  financial centers. Investor information can be found at www.ofgbancorp.com.

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Contacts

Puerto Rico: Alexandra López (allopez@orientalbank.com), OFG Bancorp, (787) 522-6970

US: Steven Anreder (steven.anreder@anreder.com) and Gary Fishman (gary.fishman@anreder.com), Anreder & Company, (212) 532-3232