As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the regional banks industry, including OFG Bancorp (NYSE: OFG) and its peers.

Regional banks, financial institutions operating within specific geographic areas, serve as intermediaries between local depositors and borrowers. They benefit from rising interest rates that improve net interest margins (the difference between loan yields and deposit costs), digital transformation reducing operational expenses, and local economic growth driving loan demand. However, these banks face headwinds from fintech competition, deposit outflows to higher-yielding alternatives, credit deterioration (increasing loan defaults) during economic slowdowns, and regulatory compliance costs. Recent concerns about regional bank stability following high-profile failures and significant commercial real estate exposure present additional challenges.

The 95 regional banks stocks we track reported a satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 1.6%.

While some regional banks stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.5% since the latest earnings results.

OFG Bancorp (NYSE: OFG)

Originally founded in 1964 as a federal savings and loan institution, OFG Bancorp (NYSE: OFG) provides banking and financial services including commercial and consumer lending, wealth management, insurance, and trust services primarily in Puerto Rico and the U.S. Virgin Islands.

OFG Bancorp reported revenues of $185.4 million, up 1.9% year on year. This print was in line with analysts’ expectations, and overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates but a slight miss of analysts’ net interest income estimates.

The stock is down 5.1% since reporting and currently trades at $40.40.

Is now the time to buy OFG Bancorp? Access our full analysis of the earnings results here, it’s free.

Best Q4: Merchants Bancorp (NASDAQ: MBIN)

With a strategic focus on low-risk, government-backed lending programs, Merchants Bancorp (NASDAQCM:MBIN) is an Indiana-based bank holding company specializing in multi-family mortgage banking, mortgage warehousing, and traditional banking services.

Merchants Bancorp reported revenues of $185.3 million, down 4.4% year on year, outperforming analysts’ expectations by 7.8%. The business had a stunning quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ net interest income estimates.

The market seems happy with the results as the stock is up 22.2% since reporting. It currently trades at $42.70.

Is now the time to buy Merchants Bancorp? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: National Bank Holdings (NYSE: NBHC)

Operating under familiar local brands like Community Banks of Colorado, Bank Midwest, and Bank of Jackson Hole, National Bank Holdings (NYSE: NBHC) operates regional banks across Colorado, Kansas, Missouri, Wyoming, Texas, and other western states, offering commercial, business, and consumer banking services.

National Bank Holdings reported revenues of $102.6 million, down 3.7% year on year, falling short of analysts’ expectations by 2.7%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ net interest income estimates.

As expected, the stock is down 4% since the results and currently trades at $38.45.

Read our full analysis of National Bank Holdings’s results here.

FB Financial (NYSE: FBK)

Founded in 1906 and operating through more than a century of economic cycles, FB Financial (NYSE: FBK) operates FirstBank, providing commercial and consumer banking services across Tennessee, Kentucky, Alabama, and North Georgia.

FB Financial reported revenues of $178.4 million, up 33.9% year on year. This print surpassed analysts’ expectations by 1.9%. Taking a step back, it was a mixed quarter as it also logged a decent beat of analysts’ revenue estimates but a slight miss of analysts’ tangible book value per share estimates.

The stock is down 15.3% since reporting and currently trades at $52.22.

Read our full, actionable report on FB Financial here, it’s free.

Independent Bank (NASDAQ: INDB)

Tracing its roots back to 1907 and serving as a financial cornerstone in New England for over a century, Independent Bank Corp. (NASDAQ: INDB) operates as the holding company for Rockland Trust, providing banking, investment, and financial services across Eastern Massachusetts and Rhode Island.

Independent Bank reported revenues of $253.7 million, up 43.7% year on year. This number topped analysts’ expectations by 2.2%. Aside from that, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ revenue estimates but a narrow beat of analysts’ EPS estimates.

The stock is down 6.9% since reporting and currently trades at $75.01.

Read our full, actionable report on Independent Bank here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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