OFG Bancorp (NYSE:OFG) Q3 2019 Earnings Conference Call - Final Transcript
Oct 21, 2019 • 10:00 am ET
Jose Rafael Fernandez
our non-performing loan sales. The sales, however, reduced the NPL rate 145 basis points year-over-year as well as the total delinquency rate. And excluding items, provision of $11.7 million declined $2.8 million, reflecting better asset quality and improving economic conditions. Capital continued to build. Once again, our ratios increased across the board to new multiyear high. Total stockholders' equity increased 8.2% to $1.05 billion. Our tangible common equity ratio declined to 14.07%. In our news release, we provided a formal indication of how seasonal implementation will affect us. We're estimating an increase in the current allowance in the range of 16% to 23% for the originated book and no effect on the acquired book.
Please turn to Slide 8 for our outlook. To sum up, we're building excellent momentum as we prepare to close on our acquisition of Scotiabank's Puerto Rico and USVI operations. We expect to receive regulatory approval by the end of the year. We are excited for our future -- what -- for what our future holds, as we will continue or -- as we will become the premier retail bank in Puerto Rico.
With this, we end our formal presentation. Thanks to everyone for listening. Operator, let's start the question-and-answer session.