Exhibit 99

OFG Bancorp Reports 3Q17 Results

SAN JUAN, Puerto Rico, October 25, 2017 – OFG Bancorp (NYSE: OFG) today reported results for the third quarter ended September 30, 2017. Results were significantly impacted by Hurricanes Irma and Maria, which struck the island on September 7 and 20, 2017, respectively.

3Q17 Summary

·        Net loss to shareholders was $146 thousand or $0.00 per share. This compares to a profit of $13.6 million, or $0.30 per share fully diluted, in 2Q17 and a profit of $11.7 million, or $0.26 per share fully diluted, in the year ago 3Q16.

·        Tangible book value per common share was $15.49 and tangible common equity ratio was 10.98%, with common equity Tier 1 capital ratio of 14.89%, Tier 1 risk-based capital ratio of 19.53%, and total risk-based capital ratio of 20.82%.

·        Based on current assessments of information available for the impact of the hurricanes on our credit portfolio, 3Q17 results included an additional $27.0 million in loan loss provision, pre-tax.

·        Excluding this provision:

☐    Adjusted net income available to shareholders totaled $18.8 million or $0.40 per share fully diluted – an increase of $0.10 per share or 33.0% from 2Q17 and of $0.14 or 53.8% from the year ago 3Q16.

☐    Adjusted return on average assets was 1.47% and return on average tangible common equity was 10.90% – 38 and 289 basis points higher than 2Q17, respectively.

CEO Comment

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

“Hurricanes Irma and Maria devastated Puerto Rico and exposed the fragility of our infrastructure and economy. Our deepest sympathy and concern goes out to everyone who has suffered. That includes our own staff and customers. We admire the resilience of all island residents in the face of extremely challenging recovery efforts.

“After the hurricanes, our efforts were focused on assuring the safety and well-being of all members of our team and securing our assets. Our operations continue to be constrained by several factors, in particular challenges with electricity and telecommunications. However, we are committed to doing everything we can to help our customers rebuild their personal lives and businesses. As we say, juntos lograremos más – together we will achieve more!

“Due to our investments in technology, OFG’s digital channels, core banking and electronic funds transfer systems continued to function uninterrupted during and after the hurricanes. Within days after Maria, and after securing a continuing supply of diesel fuel for generators, we started opening branches and ATMs with no limits on teller withdrawals. As a result, we were able to serve our clients regardless of which branches they chose.

“Today, we have 20 branches and 142 ATMs open, in addition to our digital and phone channels. Current branch activity is primarily deposit transactions. While demand for lending and other business is still tame, commercial and auto loan production has begun to pick up a little.

“We are very proud of the truly exceptional efforts of our entire team for going the extra mile to help our customers under very difficult circumstances. After Irma, Oriental was the only bank to offer fee waivers for late payments, recognizing the difficulties people in Puerto Rico might have. Following Maria, we continued to assist our customers by offering automatic payment deferrals and 90-day extensions for most loan categories.

“There is no doubt the economy will be extremely challenging in the short term. But it is widely expected several industry sectors will benefit from the anticipated massive rebuilding effort. Although the magnitude and timing of such benefit is not yet clear, Puerto Rico and OFG need to look forward to a ‘new normal’ and take advantage of the potential opportunities it will present.

“With our strong capital position, OFG is well prepared. We have repeatedly demonstrated our ability to grow during difficult times. We look forward to doing so again.”

3Q17 Income Statement Highlights

The following compares data for the third quarter 2017 to the second quarter 2017, unless otherwise noted.

•      Interest Income from

☐    Originated Loans, increased $5.5 million to $58.9 million, reflecting $4.1 million from the pay-off before maturity of a commercial loan previously classified as non-accrual.

☐    Acquired Loans, declined $0.3 million to $23.5 million, reflecting continued pay downs offset by cost recoveries. In 3Q17, the Company recognized $3.1 million in cost recoveries when the Puerto Rico Housing Finance Authority (PRHFA) paid to cancel a loan that had a $10.6 million book balance.

☐    Securities, declined $0.8 million to $7.9 million from lower balances partially offset by higher yields on higher cash balances.

•      Interest Expense declined $0.5 million to $9.9 million primarily due to lower borrowings.

•      Total Provision for Loan and Lease Losses increased $17.5 million to $44.0 million. 3Q17 reflects regular provision of $17.0 million and the previously mentioned additional hurricane related provision of $27.0 million. Of that $27.0 million, $16.8 million was applied to originated loans and $10.2 million to acquired loans.

•      Net Interest Margin expanded to 5.64% from 5.18%. This was due to the above mentioned pay-off of an originated commercial loan classified as non-accrual. It also reflected cost recoveries, lower borrowing balances and costs, and higher cash balances and yield.

•      Total Banking and Wealth Management Revenues declined $0.7 million to $17.2 million. During 3Q17, the Company experienced lower banking and wealth management activity levels in September. This was partially offset by increased mortgage banking revenues from servicing asset valuation and prepayment penalty income from the above mentioned commercial loan.

•      Other Non-Interest Income totaled $0.7 million compared to $7.0 million. In 2Q17, the Company had a net gain of $6.8 million on the sale of MBS.

•      Total Non-Interest Expenses declined $2.3 million to $50.5 million. 2Q17 included costs associated with consolidating office space and lower credit related expenses.

•      Income Tax decreased $3.4 million to $560 thousand. 3Q17 reflected lower net income before taxes at the 2017 estimated tax rate of 29.77%. In addition, 3Q17 benefitted from the $0.9 million resolution of a contingent tax position. 2Q17 included a $2.1 million beneficial catch-up adjustment to estimated income tax.

September 30, 2017 Balance Sheet Highlights

The following compares data at September 30, 2017 to June 30, 2017, unless otherwise noted.

•      Total Loans Net declined $127.3 million to $3.96 billion. The decline reflecting the previously announced sale of a $38.0 million municipal loan, continued pay downs of acquired loans, and the $27.0 million additional hurricane loan loss provision.

New loan generation fell to $190.8 million due to declines in commercial, mortgage and consumer lending in September. Auto loan production was level with 2Q17 due to strong performance in the first two months of 3Q17.

•      Total Investments declined $63.7 million to $1.16 billion, primarily due to the sale of $45.0 million in Treasury securities.

•      Total Borrowings declined $208.0 million to $419.3 million, primarily due to the maturities of $160.4 million in short-term repurchase agreement funding and $72.9 million in Federal Home Loan Bank advances.

•      Cash and cash equivalents increased $243.4 million to $723.8 million, due to increased deposits and lower transaction outflows toward the end of the quarter from commercial customers.

•      Customer Deposits increased $243.7 million to $4.83 billion, reflecting deposits from commercial customers mentioned above.

•      Total Stockholders’ Equity declined $1.3 million to $937.6 million, primarily due to decrease in retained earnings.

Credit Quality Highlights

The following compares data on the originated loan portfolio at September 30, 2017 to June 30, 2017, unless otherwise noted.

•      Net Charge-Off Rate declined 25 basis points to 1.54%. 2Q17 reflected an increase for commercial loans with the sale of the municipality loan.

•      Early Delinquency Rate increased 27 basis points to 3.79% and Total Delinquency Rate increased 53 basis points to 6.84% due to increases in September.

•      Non-Performing Loans declined 6 basis points to 3.10%, due to improvements in the mortgage, commercial and consumer loan categories, partially offset by an increase in the auto loan category.

•      Allowance for Loan and Lease Losses for the originated portfolio increased $17.9 million to $87.5 million. This was mainly due to the previously mentioned additional provision of $16.8 million related to the hurricanes.

Capital Position

The following compares data at September 30, 2017 to June 30, 2017, unless otherwise noted.

Capital continued to build and remains significantly above regulatory requirements for a well-capitalized institution.

•      Tangible Common Equity Ratio at 10.98% decreased 11 basis points from 2Q17 but increased 73 basis points year over year.

•      Tangible Book Value per Common Share at $15.49 decreased $0.02 cents from 2Q17, but increased $0.31 or 2.1% year over year.

•      Common Equity Tier 1 Capital Ratio (using Basel III methodology) at 14.89% increased 23 basis points from 2Q17 and 155 basis points year over year to the highest level in five quarters.

•      Total Risk-Based Capital Ratio at 20.82% increased 40 basis points from 2Q17 and 209 basis points year over year to the highest level in five quarters.

Conference Call

A conference call to discuss OFG’s results for the third quarter 2017, outlook and related matters will be held today, Wednesday, October 25, 2017 at 11:00 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 ended September 30, 2017, can be found on the Webcasts, Presentations & Other Files page, on OFG’s Investor Relations website at www.ofgbancorp.com. 

Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, management uses certain “non-GAAP financial measures” within the meaning of the SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. See Tables 9-1 and 9-2 in OFG’s above-mentioned Financial Supplement for reconciliation of GAAP to non-GAAP Measures and Calculations.

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) the credit default by the government of Puerto Rico; (iv) amendments to the fiscal plan approved by the Financial Oversight and Management Board of Puerto Rico; (v) determinations in the court-supervised debt-restructuring process under Title III of PROMESA for the Puerto Rico government and all of its agencies, including some of its public corporations; (vi) the impact of property, credit and other losses in Puerto Rico as a result of hurricanes Irma and Maria; (vii) the amount of government, private and philanthropic financial assistance for the reconstruction of Puerto Rico’s critical infrastructure, which suffered catastrophic damages caused by hurricane Maria; (viii) the pace and magnitude of Puerto Rico’s economic recovery; (ix) the potential impact of damages from future hurricanes and natural disasters in Puerto Rico; (x) the fiscal and monetary policies of the federal government and its agencies; (xi) changes in federal bank regulatory and supervisory policies, including required levels of capital; (xii) the relative strength or weakness of the commercial and consumer credit sectors and the real estate market in Puerto Rico; (xiii) the performance of the stock and bond markets; (xiv) competition in the financial services industry; and (xv) 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, 2016, 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 53^rd 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 wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico, through 48 financial centers. Investor information can be found at Error! Hyperlink reference not valid.www.ofgbancorp.com.

# # #

Contacts

Puerto Rico: Idalis Montalvo (idalis.montalvo@orientalbank.com) at (787) 777-2847

US: Steven Anreder (sanreder@ofgbancorp.com) and Gary Fishman (gfishman@ofgbancorp.com) at (212) 532-3232