Good morning, and thank you for joining us. We are pleased to report our fourth quarter and 2025 results.

Let's go to page 3 of the presentation to review the fourth quarter. Earnings per share diluted were up 17% year-over-year on 2% growth in total core revenues.

This was driven by disciplined core operations and a favorable tax benefit. Asset quality and credit metrics were sound and well controlled throughout the quarter.

During the quarter and year, in line with our strategies, we saw increased commercial loans and broad acceptance of our flagship mass market LIBRE account and mass affluent Elite deposit account. Performance and credit metrics remained strong, capital continued to grow, and we repurchased $40 million of common shares in the fourth quarter.

Maritza will go into more detail on these numbers shortly. Please turn to page 4.

We accomplished many of our strategic and financial goals last year. Earnings per share increased 8.3% on a 2.8% increase in total core revenues.

Total assets grew 8.4% to a record $12.5 billion. Core deposits grew 5% to $9.9 billion.

Loans grew 5.3% to $8.2 billion, with commercial loans growing to $3.5 billion, now representing 43% of our loan book. In addition, new loan production increased 11.5% to $2.6 billion.

We repurchased close to $92 million of shares and increased our dividend 20%. Business activity is robust in Puerto Rico.

The outlook for economic growth is positive, and businesses and the consumer are resilient. Having said all that, one of our biggest strategic and financial accomplishments of 2025 was the progress we made with our digital-first strategy.

Please turn to page 5. Over the last two years, we have clearly emerged as a leader in banking innovation in Puerto Rico.

Our digital focus gives us a differentiated approach and provides customers with a unique, enhanced experience. In 2024, we introduced the LIBRE account for the mass market and the Elite account for the mass affluent market.

Both LIBRE and Elite have been successful in attracting deposits from new and existing customers. In addition, we enhanced our Oriental Biz account suite, making treasury management easier and more secure for small businesses, driving a 5% increase in commercial customers during 2025.

We have further enhanced the customer experience through technology. In 2025, we launched our omnichannel platform.

This provides customers with a seamless banking experience anywhere they choose to interact, transforming the branch into a place for building customer relationships. With our intelligent banking model, customers now receive tailored insights based on cash flows and payment habits, helping them access and monitor their finances with real-time, value-added tools to improve their financial life from their mobile phones.

Please turn to page 6. All this has directly contributed to our increased market share in retail deposits and a 4% growth in retail customers.

To put this into perspective, we have provided data showing our progress over the last two years. As you can see, OFG is well positioned for continued success in the coming years.

Now, here's Maritza to go over the financials in more detail.

Thank you, José. Let's turn to page 7 to review our financial highlights.

All comparisons are to the third quarter unless otherwise noted. Core revenues totaled $185 million, an increase of $1.4 million.

Total interest income was $197 million, a decrease of $3 million. This reflected higher average balances of loans and cash at lower average yields.

This was partially offset by higher average balances of investment securities at slightly higher yields. Total interest expense was $44 million, a decrease of $1 million.

This reflected higher average balances of deposits and borrowings at lower average rates. Total banking and financial service revenues were $33 million, an increase of $3.4 million.

This mainly reflected increased wealth management revenues due to $2.3 million in annual insurance commission recognition. The other income category was a loss of $1.1 million, compared to a profit of $2.2 million in the third quarter.

The change reflected $6.1 million for accelerated amortization of technology-related assets, gains of $3.9 million on the sale of nonperforming loans, and $1.1 million on sales of real estate. Please note that the third quarter benefited from gains from OFG Ventures investment in fintech funds.

Looking at non-interest expenses, they totaled $105 million, up $8.5 million from the third quarter. This reflected $3.3 million in professional services fees related to performance-based advisory costs.

This was part of the cost savings renegotiation of a technology services contract. $2.5 million of business rightsizing, and $1 million related to the previously mentioned accelerated amortization of technology-related assets.

Compared to the third quarter, there were $1.7 million in increased costs related to an additional accumulation of performance bonuses, expanded marketing activities, and the sales of foreclosed assets. For 2026, we currently expect that total non-interest expense to be between $380 million to $385 million.

Income tax was a benefit of $8.5 million due to two discrete items: $12.9 million from the expiration of a tax agreement from the 2019 acquisition of Scotiabank Puerto Rico and USVI operations, and $3.9 million from a release in valuation allowance of deferred tax assets at the holding company level. Excluding discrete benefits, the estimated tax rate for 2025 was 21.8%.

Looking at some other metrics: tangible book value was $29.96 per share, efficiency ratio was 56.7%, return on average assets was 1.81%, and return on average tangible common equity was 17.2%. Now, let's turn to page 8 to review our operational highlights.

Average loan balances were $8 billion, up slightly from the third quarter. This reflected increases in Puerto Rico commercial loans, partially offset by lower balances in auto and residential mortgage.

Loan yield was 7.73%, down 70 basis points. This was mainly due to the effect on variable rate commercial loans from the Fed's 50 basis point rate cut in the fourth quarter.

New loan production was $606 million, compared to $624 million. This reflected decreases in Puerto Rico and U.S.

commercial and consumer lending, partially offset by increases in auto and residential mortgage lending. Average core deposit balances were $9.9 billion, up almost 1% from the third quarter.

This reflected increases in retail, commercial, and government balances. By account type, it reflected increases in demand, time, and savings deposits.

Core deposit cost was 1.42%, down 5 basis points. This was mainly due to lower cost of government deposits.

Excluding public funds, cost of deposit was 102 basis points, compared to 103 basis points in the third quarter. Investments totaled $2.8 billion, down $96 million.

This reflected principal paydowns and maturities, and it was partially offset by purchases of $25 million of mortgage-backed securities and residential mortgage securitization of $21 million. Average borrowings and brokered deposits were $787 million, compared to $769 million in the third quarter.

The aggregate rate paid was 4.03%, down 8 basis points from the third quarter. End of period balances were $897 million, compared to $746 million.

This reflected increased broker deposits for liquidity management. End of period cash at $1 billion was 41% higher, reflecting increased core and brokered deposits.

Net interest margin was 5.12%, within the range we had expected. Please turn to page 9 to review our credit quality and capital strength.

Credit quality continues to be resilient. Provision for credit losses was $31.9 million, up $4 million from the third quarter.

This reflected $21 million for increased loan volume, $5.1 million for a specific reserve on a Puerto Rico telecommunications commercial loan, $2.4 million related to the U.S. macroeconomic factors, and $1.7 million in charge-offs from the sale of nonperforming loans.

Net charge-offs totaled $27 million, up $6.7 million. Net charge-offs included $4.8 million related to the sale of nonperforming loans, of which $3.1 million had been previously reserved.

Looking at other credit metrics: we observed the typical seasonal pattern of higher delinquency and nonperforming levels during the year-end period. Despite this, overall credit quality remains within expected ranges.

Early delinquency rate was 2.8%, down from the third quarter and down year-over-year. Total delinquency rate was 4.18%, up from the third quarter, but down year-over-year.

The nonperforming loan rate was 1.59% due to the move to nonaccrual classification of the Puerto Rico telecommunication loan that I mentioned. On the capital side, our CET1 ratio was 13.97%, stockholders' equity totaled $1.4 billion, up $50 million, and the tangible common equity ratio decreased 8 basis points to 10.47%.

To summarize the year: loans and core deposits both grew about 5% in 2025. This year, we expect loans to continue to grow in low single digits.

We also expect retail and commercial deposits to increase, with LIBRE Plus, Elite, Oriental Biz, and our digital offerings driving customer growth. As for the large Puerto Rico government deposits, $500 million moved this month to our wealth management business as an advisory account.

The remaining $600 million is staying as a variable rate core deposit. Net interest margin was 5.27% for 2025.

Looking ahead, net interest margin should range between 4.95% to 5.05% in 2026. That takes into account two more 25 basis point cuts, the effect of the partial exit of the government deposits, and the incremental cost of funding to replace it.

Non-interest expense totaled $389 million in 2025. We currently expect them to be between $380 million to $385 million this year.

Credit should remain steady, reflecting the strong economic environment in Puerto Rico. Our effective tax rate for 2026 should be around 23%, excluding any possible discrete items.

Capital should continue to build, enabling us to continue to return capital to shareholders through dividends and buyback shares on a regular basis. Now, here's José.

Thank you, Maritza. Please turn to page 10.

The Puerto Rico economy continues to be steady with a sustainable long-term outlook. Liquidity is solid, businesses and consumers remain resilient, and unemployment is low.

Public reconstruction funds and private investments are providing economic tailwinds. Manufacturing investments are continuing from multinational companies seeking onshoring solutions, particularly in the pharmaceutical and medical devices sectors.

Having said that, we always have to closely monitor all the global macroeconomic and political uncertainties these days and their political impact on Puerto Rico. Turning to OFG, the success of our differentiated positioning has been evident over the last several years.

We will continue to focus on the client experience with enhanced product tailoring strategies. Our LIBRE Plus and Elite accounts offer AI insights and tools not available elsewhere in Puerto Rico.

Commercial loan and deposit account growth is benefiting from deeper relationships and services, and credit and asset quality are sound and well controlled. The technology investments we make and our continuous improvement culture are starting to produce tangible efficiencies.

All of these give us confidence in sustainable long-term growth across our core businesses. As always, we could not have achieved these results without the hard work of our dedicated team members.

We're very thankful to them and excited about our future. With this, we end our formal presentation.

Operator, let's start the Q&A.

Hey, good morning. Thanks for the question.

Maybe to just kick it off with credit, just given that provisions were a bit elevated for the second quarter now, can you provide additional color into the larger Puerto Rico charge-offs this quarter, as well as there was some movement in NPLs with some sales. Can you provide more color as to what was done there and what migrated back in?

Thank you.

Yep. Hi, Kelly.

This is José. I'll let César take that question.

The charge-offs that you're looking into in the quarter are the results of a sale that we performed that relieved $17 million in nonperforming loans during the quarter. That relieved previous charge-offs, etc., but the result at the end of the day was a gain of $3.9 million that we reported.

Offset, of course, by the entry of a loan, telecommunications loan, that was recorded as nonaccrual, nonperforming during this quarter. That's basically the movement in nonperforming during the quarter in commercial.

When you look at it, it's $45 million on the communication loan minus the $17 million on the sale of the NPLs, and that's why you see the increase in NPLs in the quarter, and particularly on the commercial. It's only one loan, and it's not something that is across the portfolio.

We just see this as very idiosyncratic.

Just to add, and I shared a little bit on my prepared remarks, there was a charge-off related to the sale of about $4.8 million, and a big portion of it was already reserved. It was about $3.1 million that was already reserved.

Got it. Then on loan growth, you've been talking about auto being more competitive in prior calls and such.

In terms of your outlook for low single-digit loan growth ahead, can you provide additional color in terms of what's the driver of that? Is the expectation that auto will be kind of more muted like the past two quarters?

Thanks.

Yep. That's a great point.

We see auto starting to stabilize at this levels, as, again, in Puerto Rico, you also are starting to see a stabilization in the new car sales. We look at auto balances to be down in the year between 2% and 3%.

We also see commercial loans up 5%, 6% during the year, both Puerto Rico and U.S. With that kind of setup, we see consumer going up a bit, mortgage also is trending down, but less than in years past.

We see those single digits as a reasonable target for us for loan growth overall.

Got it. Last question, if I can just sneak it in, is on your expenses.

$380 million to $385 million, relative to your operating is relatively flat year-over-year. Can you provide your confidence in that and the drivers of those increased efficiencies?

Thank you for your question, Kelly. The range reflects our continuous investment on technology and people, capabilities, talent, to continue driving the digital-first strategy that we are deploying constantly in the bank.

We are harvesting certain efficiencies like this year. We have, if you look at our full-time equivalent employee, there are 30 less 30 people.

60.

60, 60 all together, no? We continue to expect that number to go down, but we need to continue reinvesting.

That's why we see expenses to continue to be flat this year. We're thinking that by the end of the year, we will start seeing some of that saving and the 2027 and 2028, we see a savings to accelerate, and we will see that more in a tangible way for 2027, 2028.

Yep. It's something that we've always kind of be very cognizant of.

These investments in technology, they certainly have enhanced the customer experience in a significant way, and it's providing us the ability to grow and differentiate ourselves, but it also has a very intentional effort to bring efficiencies to the bank. This is the first year where we are seeing in 2020 2026 the expense ranges flattening out.

It has everything to do with a little bit of what we've done in the past, but it's been more importantly on the culture of a continuous improvement and how do we look at processes to simplify them, make them more agile, and really try to eliminate interactions and processes that are very manual and with very little value add, try to convert them into technologies and use the blockchain and all the technology, all the robotics and all. We're starting to use all those things, and we feel more confident in our expense ranges in '26, for sure.

We will continue to work hard to bring additional expense reductions in '27 and '28, Maritza mentioned.

Great. Thank you so much.

I'll step back. Appreciate the color.

Yep. Thank you, Kelly.

Thank you. Good morning.

José, I was wondering if you could talk a little bit about what you're viewing as the best strategic initiatives or your focus on strategic initiatives for 2026, maybe relative to 2025. It seems like you're making a good push on the deposit side and of course, always investing in technology.

Thank you, Arren. We will continue to enhance our retail efforts.

It's not something that we're going to decelerate. We will continue to invest in enhancing the customer experience, adding additional functionality to our omnichannel platform and drive additional benefits for our customers on the retail side, and you'll see some of those playing out throughout 2026.

In 2026, our focus is going to be much more on commercial. We see a good opportunity.

As you saw, we grew 5% our commercial customers last year, and I think we have an opportunity here to continue to translate the same strategies that we have done in terms of technology and digital, as it is appropriate, on the commercial side. It's going to be a journey.

It's going to be 3 3 years or so for us to be able to deploy all this and all that stuff, but that's where we're going to be putting more effort. We see an opportunity for us to keep growing our commercial business, and we think the Puerto Rican economy is supporting that.

Us, as a bank, feel compelled to invest in small and mid-sized clients and help them grow, because that's critical for the growth of our economy here in Puerto Rico. We're really focused on the Puerto Rico market, and we feel that we have a great opportunity there.

Thanks. On capital return, I think Maritza said that she expects capital to build so then to return capital to shareholders.

I'm just trying to balance the two. What's the expectations for capital return for 2026?

I think the fourth quarter capital actions that we took in terms of the buyback, I think it's going to become more, given our valuation, right? Given the way the market is valuing our stock and given the multiples that they're assigning to us versus our peers, we feel the best use of our capital after loan growth and balance sheet growth is buying back shares.

We will continue to be very intentional there. We certainly would also look at the dividend, but again, we see some differentiation in the valuation there, and we feel that it's the best way to reward our shareholders by buying back shares.

Great. Then just lastly, some clarification on your answer about expenses.

The expense reductions in '27 and '28, is that more so thinking about the efficiencies that you're going to get from actions you're making this year, and then I guess I'm just thinking of is it actually going to go down, or are you going to see part going down and some growth on top of that? In '20 Correct.

Yes.

I don't want to put the car in front of the horses, right? I tell you, we're working very hard to bring additional efficiencies during 2010 '26 that will play out in '27 and '28.

We will give you more details as we execute on those initiatives, but as Maritza mentioned, we are looking at FTEs and, where can we redeploy our people talent to more customer-facing and value-add, building relationships type of talent versus having FTEs sitting behind a desk in operations and servicing and pushing papers and dealing with Excel spreadsheets to manage different functions. I can give you an example.

We have been able to automate the entire fraud management processes just simply by using robotics, and being able to eliminate several FTEs that were basically managing fraud on a daily basis. Those are some of the small examples that we can provide, and I'm sure many banks in the U.S.

and in Puerto Rico are also doing the same. We're trying to hard to bring down expenses, not without investing in technology, investing in our people, and continuing to do the right thing for the long term of our franchise, which is critical for us.

It's important.

Great. Thank you.

Yep, you're welcome.

Hey, good morning, everyone. Wanted to start on the margin and just on the fourth quarter.

Wanted to get a little better color on the link quarter change in the loan yields, which had been fairly stable up until this quarter. The 17 basis point link quarter change, was just hoping to figure out how much of that was the large nonaccrual loan and any other comments on the loan portfolio yield change link quarter.

Thank you. Thank you, Brett, for your question.

Remember that we are asset sensitive, and we continue to be asset sensitive. This quarter, as I mentioned in my prepared remarks, the loan yield went down basically because of, first, the 50 basis point cut during the quarter, but also we have the full effect of the September 25 basis cut.

That's one of the main drivers for the reduction in the NIM. We were able to compensate that through our government deposits variable rate, because it also get a reduction there.

It reflects our asset-sensitive positioning.

Yep. I think also, you're also on the loan side, you're starting to see, since we have moved our auto originations to higher, significantly higher quality, we are also seeing a slight decrease in the yield coming in on the auto lending side.

That's just a testament to the credit quality that we're bringing in, better credit quality.

Okay. That's helpful.

Then just thinking about the margin guidance for '26, it was nice to see that the funding costs, which were up a little bit in 3Q, moved back down in the fourth quarter. Is the margin guidance for '26, does that reflect some additional leverage to lower funding costs from here?

One of the key things that's always been a question is Puerto Rico has lower cost deposits than mainland, how much can those go down as rates go down given they're already fairly competitively priced?

The reality is when you look forward for this year, 2026, we will have a change in our funding mix because the $50 million exit,

$500

million exiting the bank, moving to the wealth management business, and we will replace that with wholesale funding, and that carries a higher cost of about 25 basis point to 40 basis point, depends on the term of that wholesale funding. The reality is that we will have that change, and that's part of the impact of the NIM.

When you look at 2026, 2026 will have the full effect of the 75 basis point cut that happened in the Fed in the last part of 2025. You will have all that full effect, plus we are also foreseeing two additional cuts during 2025.

We are asset sensitive. We have more assets repricing than the deposit side, and that's why we are giving that indicative in the margin, okay?

That guidance. When you look at 2024 versus 2025, it reflects that.

We had a margin in 2024 of 5.43%. This year, it was 5.27%.

It was about 16 basis point reduction, and it's related to the rate cuts that 100 basis point late 2024, and this year, 70 75 basis point end of 2025.

Brett, and I could also add, and as you saw this quarter, and you saw throughout 2025, core deposits, excluding government, went up on the retail side as well as on the commercial side. That is also something that we expect to help mitigate what Maritza just said, right?

Because the more core funding that we bring in, it's going to be cheaper than wholesale funding. Our margin guidance is the margin guidance, and that's how we see it, but we're going to be working hard to beat that margin guidance, as you guys can expect.

We'll update everybody on the first quarter when we talk again.

Okay. If I could ask one last one.

The other thing I was hoping to figure out was if you look at slide 20, it has the auto portfolio net charge-off rate. It was a little bit higher in the fourth quarter, as were NPLs, and just wanted to see if the higher level in 4Q, if that seems to be an anomaly or a year-end cleanup of the portfolio, or what have you, versus something maybe you're seeing with the book.

César can take that one.

This is, like Maritza mentioned before, it's typical that the seasonality of the portfolio starts very low in terms of delinquencies and nonperforming loans in the first quarter of the year, and then it tickets up until fourth quarter. The fourth quarter is at the upper level of that equation.

Net charge-offs, if you compare the net charge-offs, usually compared to last year, same period last year, and what you see there is 1.63% last year, but that was benefited because we sold charge-off portfolio. Without that sale, that number would have been 1.86%, and we are right now at 1.81% this quarter, it is a positive sign, but again, the seasonality of the portfolio will result in an increased delinquency in this quarter.

We expect that benefit in the next quarter. You're going to see a positive effect on all those metrics.

It's

end of the year Yeah,

yeah. End of the year it's just end of the year seasonality, and, and we'll we'll we'll keep on keep you guys updated in the first part of the year and see if that, turns around again.

That's what we've seen in the last three years. We'll we'll be watching closely in the first part of this year to, see if that replicates again.

Okay. Great.

Sorry to interrupt, and thanks for all the color.

Yeah. Thank you for your questions, Brett.

Hi, Timur.

Hi. Good morning.

Maybe bigger picture on the credit. Hi, can you hear me?

Operator, we can't hear Timur. Give it one second.

How about now? Can you hear me?

have an issue.

Now I can hear you. Okay.

Perfect. Sorry about that.

Maybe just a bigger picture on credit. If we look at kind of 1% full-year charge-off rate, is that kind of a good proxy for where we are in this post-pandemic cycle?

Then if you look at the allowance ratio, year-over-year, you added a little bit over $25 million to allowance. You built that to almost 2 2.46% of loans.

I guess how do we think about the allowance build in 2025, what that might portend for charge-off activity in 2026? Then what does a stabilized level of credit activity look like going forward here?

I think that the 1% range that you mentioned is within what we can expect here in net charge-off. If you look at 2025 without any specifics of the sales or any particular case, that should be a good run rate.

When we think about how we build the reserve, please be mindful that there's some specific reserve at the end of this year related to the telecommunication loan. That's a very very isolated case, very specific.

Setting that aside, I think that we could continue monitoring credit and building reserves as needed, but 1% net charge-off, delinquency remaining as the level that we're managing this year. Maybe we won't build reserves at the same level because of the specific that we have this quarter, but definitely it could be about flat from what we have right now, excluding any specific case that we have managed during the year, okay?

Got it. Then the telecom credit this quarter, was there anything incremental that happened in 4Q that drove the activity, or is this just really recalibration of maybe what the other banks were talking about in the third quarter and you guys kind of catching up to that at same level of reserving in the fourth quarter?

No, it's basically we receive financials every period, last period didn't warranted right away nonaccrual status. This period, it repeated the deterioration on the financials, basically we decided, yeah, this is a deterioration that merits the nonaccrual status.

At the end, this is a loan that continues to pay. It paying, what we're doing is being prudent, and given the specific situation of the company that comes from the outcome of a merger, we decided to put it in nonaccrual.

Got it. That's great color.

Thank you. Then just last for me, you guys have had really good success rolling out some of these retail deposit products during the course of 2025 that have been differentiated from what the island typically sees.

I'm just wondering from a competitive standpoint, what's been the reaction, and as you think about Puerto Rico ex-public fund deposits during 2026, during 2027, does it feel like the competitive nature is shifting now, and do you still think you can maybe get those lower with these rate cuts, or is the competitive nature such that even with these rate cuts, the cost of the core Puerto Rican deposits are likely continuing to rise here?

I think the competitive landscape is slowly but surely intensifying. I think each institution has its own drivers, right?

Some of the drivers that come in from the reinvestment in the investment portfolio at a higher yield gives flexibility to be more competitive and more aggressive on some of the CD offerings and stuff like that. I am not saying that we are going all crazy here in the market in Puerto Rico in terms of deposits, but it's slowly but surely getting more intense in terms of deposit competition.

Also, be aware that we have credit unions, U.S. credit unions, that are and have been for the last three or four years very aggressive.

They remain so. That is also part of the equation here in Puerto Rico.

This tax-exempt credit unions, they have another lever there that allows them to be more aggressive on the deposit side. Our strategy is to target the mass and the mass affluent.

We have come up with the products. We have come up with the differentiation in terms of our platforms and technology and the way we do the business.

That's the formula that we're using, and it's paying off. I'm sure our friendly and larger competitors are also doing their thing, and I'm sure they're going to be very competitive throughout.

It's just now blocking and tackling and trying to achieve organic growth on the loan side and on the deposit side. It's exciting for us at this juncture how we are well positioned to achieve the both.

Got it. Thanks for the color.

Appreciate it.

Yep. Thank you, Timur.

Hey, good morning. I just wanted to follow up on that last question.

Has there been any price response from other players on the island from your new LIBRE and Elite products, and where are those having the most success? Happy to hear a little bit more on those two products as well.

There's no need to have a price response because we're not paying high yields, I don't know where the idea that we're kind of bringing in higher yields or so. It's actually LIBRE account is a non-interest-bearing account, I don't know where that comes from.

Elite, it does pay 1.28% average cost of funds on the balances that we have, and that is the way we approach the mass affluent. It's paying off, and it's doing well because it's not about the rate only.

It's about what we offer as a product, and what is the value proposition that we bring into the equation here. It's not only a rate.

It's more than a rate. It's the functionality.

It's the accessibility. It's the everyday, every time, anywhere, wherever you are, and the fast, the agile way we service our customers in any interaction that they have with us that brings us the ability to attract, deepen, and expand relationships across the markets that we operate, which is here in Puerto Rico.

Reaction from the competition, zero. There's not increase in competition in terms of rates here.

What we're seeing is more on a targeted basis, CD rates, and that's what I mentioned earlier, Manuel. All right.

I appreciate that. And, it it is pretty early innings, but are you're you're seeing that deeper relationship, are you seeing younger, clientele in in these accounts as well given they're a little bit more digital forward?

Actually, that's a good point, Manuel. Given Puerto Rico's demographics, what we're seeing is that, I will share this information, 75% of the accounts that we're opening on the LIBRE account are new customers.

40% of those are 29 years or younger. To us, that is three extremely positive because it allows us to build a long-term relationship and build a long-term franchise with them.

It's exciting times for us. That's kind of the crux of the matter.

You actually pointed out one of the great things that is going on in the last couple years.

I appreciate that extra color. Going back to the NIM for a moment, as you're targeting a little different auto client and commercial loans are adjusting, what are kind of some of your new yields coming on, especially in those two categories, in auto and commercial?

Commercial, remember, our commercial originations are 50% fixed, 50% variable, and the rates are, depending on the type and the size of the commercial loan, but it ranges between, let's say, 275 to 350 basis points above the term that we are lending at. That's kind of I'm giving you a range, and it can get on the lower end when it's a larger account, a larger loan or if it's small business or a larger commercial account or loan.

That's on the commercial side. On the auto side, I think the yields are in the 8-handle, 8 and change.

It is coming from the higher 8 levels. It's now stabilizing around 8.30% or 8.40% or something like that, between 8.30% and 8.50%.

It's all about certainly competition, but also us originating close to 90% of our loans in prime and super-prime levels.

Okay. That's really helpful.

Then I guess just my last question is, I appreciate the commentary around the buyback. The pace was a little accelerated in the fourth quarter.

Do you think we stay at this fourth quarter pace, and is there any price sensitivity, or where is there some price sensitivity on repurchases?

I'll repeat what I said earlier, Manuel, because we don't have a price target. We do see the market being kind of penalizing us a bit in terms of the multiples that they're pricing us at.

I think we kind of look at the market in general. We see where we can deploy our capital in terms of loan growth.

This year, we're probably going to grow single digits, as I said earlier, low single digits because of what I mentioned earlier on the auto. We might have a more ability to deploy capital through buybacks throughout the year, but we don't have a number or a set stock price to go after.

It's just part of our natural, ongoing capital management strategies.

I really appreciate the commentary. Thank you.

Yep. Thank you for your questions, Manuel, and welcome to the calls.

Thank you.

Yeah.

Thank you, operator, and thanks again to all our team members. Thanks to all our shareholders who have listened in.

Looking forward to our next call. Have a great day.