OFG Bancorp | 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (OFG.PRA)
Prospectus excerpt: Oriental Financial Group Inc. is offering to the public 1,225,000 shares of its 7.125% Noncumulative Monthly Income Preferred Stock, Series A. The Series A Preferred Stock has the following characteristics: Annual dividends of $1.78125 per share, payable monthly, if declared by the board of directors. Missed dividends never have to be paid. Redeemable at Oriental Financial Group's option beginning on May 30, 2004. No mandatory redemption or stated maturity.
OFG Bancorp is a financial holding company. Through its subsidiaries, Co. provides a range of banking and financial services to its clients through a range of banking and financial solutions. Co.'s business segments include: Banking, which provides deposits and commercial, consumer and mortgage loans, and mortgage banking activities; Wealth Management, which include financial planning, money management, investment banking, brokerage services, insurance sales activity, corporate and individual trust, and retirement services, as well as retirement plan administration services; and Treasury, which encompasses all of Co.'s asset/liability management activities.