OFG Bancorp OFG.N :
* OFG BANCORP TO ACQUIRE SCOTIABANK OPERATIONS IN PUERTO RICO AND US VIRGIN ISLANDS
* OFG BANCORP - DEAL FOR $550 MILLION IN CASH
* OFG BANCORP - SCOTIABANK'S PUERTO RICO AND USVI OPERATIONS WILL BE MERGED INTO ORIENTAL BANK AND ITS RELATED BUSINESSES
* OFG BANCORP - TRANSACTION WILL BE FUNDED BY OFG'S EXCESS CAPITAL
* OFG BANCORP- DEAL EXPECTED TO BE APPROXIMATELY 40% ACCRETIVE TO OFG'S EPS IN 2020
* OFG BANCORP - CO'S UNIT, ORIENTAL BANK, TO ACQUIRE SCOTIABANK'S PUERTO RICO OPERATION FOR $550 MILLION IN CASH
* OFG BANCORP - TO ACQUIRE SCOTIABANK'S US VIRGIN ISLAND (USVI) BRANCH OPERATION FOR A $10 MILLION DEPOSIT PREMIUM.
* OFG BANCORP - CO'S UNIT, ORIENTAL BANK, TO ACQUIRE SCOTIABANK'S US VIRGIN ISLAND (USVI) BRANCH OPERATION FOR A $10 MILLION DEPOSIT PREMIUM
* OFG BANCORP - OFG EXPECTS TO INCUR CERTAIN ONE-TIME RESTRUCTURING CHARGES OF APPROXIMATELY $45 MILLION IN CONNECTION WITH TRANSACTION
* OFG BANCORP - PRIOR TO CLOSING OF SCOTIABANK PUERTO RICO DEAL, SCOTIABANK PUERTO RICO MAY ELECT TO PAY ADDITIONAL DIVIDENDS TO PARENT OF UP TO $125 MILLION
* OFG BANCORP - IF SCOTIABANK PUERTO RICO TO PAY ADDITIONAL DIVIDENDS,PURCHASE PRICE OF DEAL WILL BE ADJUSTED DOWNWARD BY AMOUNT OF ADDITIONAL DIVIDENDS
* OFG BANCORP - ACQUISITION HAS BEEN UNANIMOUSLY APPROVED BY OFG'S AND ORIENTAL BANK'S BOARDS OF DIRECTORS