# EDGAR Filing Document

**Accession Number:** 0001964070
**File Stem:** 0001562180-23-000893
**Filing Date:** 2023-2
**Character Count:** 9185
**Document Hash:** 25934273f8460b88129b2b97e8991bd7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001562180-23-000893.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0001562180-23-000893

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230125

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230203

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Gonzalez Hugh
- **CENTRAL INDEX KEY:** 0001964070

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12647
- **FILM NUMBER:** 23585644

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 195115
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00919-5115
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OFG BANCORP
- **CENTRAL INDEX KEY:** 0001030469
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 660538893
- **STATE OF INCORPORATION:** PR
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 254 MU?OZ RIVERA AVENUE
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918
- **BUSINESS PHONE:** 7877716800

**MAIL ADDRESS:**
- **STREET 1:** 254 MU?OZ RIVERA AVENUE
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ORIENTAL FINANCIAL GROUP INC
- **DATE OF NAME CHANGE:** 19970110

## Ex-24

```

LIMITED POWER OF ATTORNEY
FOR
SECTION 16 REPORTING OBLIGATIONS

	KNOW ALL MEN BY THESE PRESENTS, that the undersigned, Hugh
Gonzalez-Robison a/k/a Hugh Gonzalez, hereby appoints Ricardo
Colon-Rios, Alfonso Cuesta and Nilda M. Vazquez-Rodriguez, or
either of them acting singly,  to be my true and lawful
attorney-in-fact, for me and in my name, place, and stead, to
prepare, execute, acknowledge, deliver and file Forms 3, 4, and
5 and amendments thereto with respect to securities of OFG
Bancorp (the "Company"), required to be filed with the
Securities and Exchange Commission, national securities
exchanges, and the Company in accordance with Section 16(a) of
the Securities Exchange Act of 1934 and the rules and
regulations thereunder, granting unto said attorneys-in-fact
full power and authority to perform all acts necessary to be
done to complete such purposes.

	The undersigned acknowledges that the foregoing attorneys-
in-fact, in serving in such capacity and on the behalf of the
undersigned, are not assuming nor is the Company assuming, any
of the undersigned's responsibilities to comply with, or any
liability for the failure to comply with, any provision of
Section 16 of the Securities Exchange Act. The undersigned
agrees that the attorneys-in-fact herein, may rely entirely on
information furnished orally or in writing by the undersigned,
my brokers, the Company or any employee, officer or
representative of the Company or any of its subsidiaries to such
attorneys-in-fact. The undersigned also agrees to indemnify and
hold harmless the Company and the attorneys-in-fact against any
losses, claims, damages, or liabilities, (or actions in these
respects) that arise out of or are based upon any untrue
statement or omission of necessary facts in the information
provided by the undersigned to the attorneys-in-fact for
purposes of executing, acknowledging, delivering or filing Forms
3,4 or 5 (including amendments thereto) and agrees to reimburse
the Company and the attorneys-in-fact herein for any legal or
other expenses reasonably incurred in connection with
investigating or defending against any such loss, claim, damage,
liability or action.

      This Limited Power of Attorney shall remain in full force
and effect until the undersigned is no longer required to file
Forms 3, 4 or 5 with respect to the undersigned's holdings of
and transactions in securities issued by the Company, unless
earlier revoked by the undersigned in a signed writing delivered
to each of the foregoing attorneys-in-fact. For the avoidance of
doubt, the validity of this Power of Attorney shall not be
affected in any manner by reason of the execution, at any time,
of other powers of attorney by the undersigned in favor of
persons other than those named herein.

	IN WITNESS WHEREOF, the undersigned has executed this
Limited Power of Attorney as of this 26 day of January 2023.

      Signed and acknowledged:

      /s/ Hugh Gonzalez
      ____________________________
      Signature
      Hugh Gonzalez-Robison
      a/k/a Hugh Gonzalez

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Gonzalez Hugh<br><sub>(Last) (First) (Middle)</sub><br>P.O. BOX 195115<br><sub>(Street)</sub><br>SAN JUAN, PR 00919-5115<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>OFG BANCORP [ OFG ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2023-01-25 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [ ] 10% Owner<br>[X] Officer (give title below)   [ ] Other (specify below)<br>_General Counsel_ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| Common Stock | 6670.00 | D |  |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| Qualified Stock Options<sup>(1)</sup> | <sup>(2)</sup> | 2025-02-24 | Common Stock | 1400.00 | $17.44 | D |  |
| Qualified Stock Options<sup>(1)</sup> | <sup>(2)</sup> | 2024-02-27 | Common Stock | 1400.00 | $16.10 | D |  |
| Restricted Units<sup>(3)</sup> | <sup>(5)</sup> | <sup>(5)</sup> | Common Stock | 317.00 | <sup>(4)</sup> | D |  |
| Restricted Units<sup>(3)</sup> | <sup>(6)</sup> | <sup>(6)</sup> | Common Stock | 667.00 | <sup>(4)</sup> | D |  |
| Restricted Units<sup>(3)</sup> | <sup>(7)</sup> | <sup>(7)</sup> | Common Stock | 1200.00 | <sup>(4)</sup> | D |  |

---

### Footnotes:

(1) Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan (the "Plan"). These options represent a right to buy the underlying securities.

(2) These Qualified Stock Options are fully exercisable.

(3) Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.

(4) Not applicable. The reporting person is expected to receive the underlying shares of Common Stock at the end of the Restricted Period.

(5) Subject to the provisions of the Plan, the Restricted Period of the 950 Restricted Units originally awarded on February 18, 2020, lapses in three annual installments as follows: 33% on the first anniversary, 33% on the second anniversary, and 34% on the third anniversary date of the Award.

(6) Subject to the provisions of the Plan, the Restricted Period of the 1,000 Restricted Units originally awarded on February 17, 2021, lapses in three annual installments as follows: 33% on the first anniversary, 33% on the second anniversary, and 34% on the third anniversary date of the Award.

(7) Subject to the provisions of the Plan, the Restricted Period of the 1,200 Restricted Units originally awarded on February 22, 2022, lapses in three annual installments as follows: 33% on the first anniversary, 33% on the second anniversary, and 34% on the third anniversary date of the Award.

**Signature:** /s /Nilda M. Vazquez-Rodriguez, Attorney-in-Fact for Gonzalez Hugh  
**Date:** 2023-02-03

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**