OFG Bancorp reported results for the fourth quarter and year ended Dec. 31, 2017, which reflected net income available to shareholders increased to $13.6 million, or $0.30 per share fully diluted, from a net loss of $146,000, or $0.00 per share, in 3Q17. OFG reported net income of $12.1 million, or $0.27 per share fully diluted, in 4Q16.
Popular Inc. reported a net loss of $102.2 million for the quarter ended Dec. 31, 2017, compared to a net income of $20.7 million for the prior reflecting a non-cash income tax expense of $168.4 million due to the impact of the Federal Tax Cut and Jobs Act in the corporation’s U.S. deferred tax asset.
Upon releasing second quarter results, Oriental Financial Group President José Rafael Fernández said despite solid performance, there is a “great deal of uncertainty” moving forward about the economic impact from Puerto Rico’s fiscal restructuring.
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