SAN JUAN, Puerto Rico (AP) _ OFG Bancorp (OFG) on Monday reported fourth-quarter net income of $23.3 million, after reporting a loss in the same period a year earlier.

The San Juan, Puerto Rico-based bank said it had earnings of 42 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 58 cents per share.

The financial holding company posted revenue of $147.4 million in the period. Its revenue net of interest expense was $133.2 million, topping Street forecasts.

For the year, the company reported profit of $74.3 million, or $1.32 per share. Revenue was reported as $532.8 million.

OFG shares have increased 3% since the beginning of the year. The stock has dropped 11% in the last 12 months.

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