OFG Bancorp CEO José Fernández's 2018 pay jumps 21% to $2.8M

OFG Bancorp reports 2018 executive compensation

Published: March 13, 2019

OFG Bancorp reported fiscal year 2018 executive compensation information on March 13, 2019.

In 2018, six executives at OFG Bancorp received on average a compensation package of $1.1M, a 11% increase compared to previous year.

Average pay of disclosed executives at OFG Bancorp

José Rafael Fernández, Chief Executive Officer, received $2.8M in total, which increased by 21% compared to 2017. 30.89% of Fernández's compensation, or $865K, was in salary. Fernández also received $283.3K in bonus, $708.6K in non-equity incentive plan, $850.9K in stock awards, as well as $92.6K in other compensation.

Ganesh Kumar, Chief Operating Officer, received a compensation package of $1.9M, which increased by 42% compared to previous year. 28.50% of the compensation package, or $529.2K, was in non-equity incentive plan.

Maritza Arizmendi, Chief Financial Officer, earned $622.1K in 2018, a 35% increase compared to previous year.

Cesar Ortiz, Senior Vice President of Commercial Credit and Operations, received $396.5K in 2018, which increases by 8% compared to 2017.

Ramón Rosado-Linera, Senior Vice President & U.S. Loan Program Director, earned $387.3K in 2018, a 8% increase compared to previous year.

Rafael Cruz, Senior Vice President and Chief Risk and Compliance Officer, received $343K in 2018.