EXHIBIT 99

Oriental Financial Group Second Quarter 2011 Results

SAN JUAN, Puerto Rico, July 21, 2011 — Oriental Financial Group Inc. (NYSE: OFG) today announced results for the second quarter ended June 30, 2011.

2Q11 Financial Summary

•		Income available to common shareholders increased to $25.3 million, compared to a loss of $4.2 million in the year ago quarter and a profit of $1.9 million in the March 2011 quarter.
•		Income per common share increased to $0.56, compared to a loss of $0.13 in the year ago quarter and income of $0.04 in the March 2011 quarter.
•		There were approximately 45.1 million average common shares outstanding in the quarter ended June 30, 2011, up 36.6% from the year ago quarter due to the 2010 equity offerings, and 2.3% below the March 2011 quarter as a result of share buybacks.
•		Pre-tax operating income of $18.5 million increased 23.1% from the year ago quarter and 42.0% from the March 2011 quarter.

CEO Comment

“We are pleased to report that we are delivering on our strategies, as our second quarter results clearly demonstrate,” said José Rafael Fernández, Vice Chairman of the Board, President and Chief Executive Officer. “We are growing the commercial banking business, returning capital to investors through increased share buy backs, and continuing to evaluate strategic opportunities in Puerto Rico.”

“Net interest income continues to rebound, while our core banking and wealth management operations continue to perform well, the cost of retail deposits continues to decline, and we maintain strong asset quality.”

“Our value-added, client-centric, advisory model enables Oriental to gather assets and quality deposits through our branch network, trust department and brokerage business. Over the last 12 months, we have successfully expanded that model to our commercial banking business, enabling us to capture market share by attracting quality corporate and small commercial clients.”

2Q11 Highlights

•		Loan production totaled $116.7 million, up 30.6% from a year ago and 49.6% on a sequential quarter basis. Commercial loan production of $45.6 million increased 125.5% year over year and 174.2% sequentially.
•		Net interest income was $42.7million, up 15.6% from a year ago and 14.9% on a sequential quarter basis. The increase on a sequential quarter basis primarily reflects a 16.7% increase in interest income on mortgage backed securities, mainly as a result of lower premium amortization based on a slowdown in pre-payments during the quarter.

•		Core retail deposit cost was 1.83%, down 54 basis points from a year ago and down 15 basis points on a sequential quarter basis, primarily due to the maturing of higher-priced retail certificates of deposit.
•		Book value per common share was $14.91 at June 30, 2011, up 6.6% from a year ago and 4.9% from March 31, 2011. Sequential growth primarily reflects increased retained earnings.

Items Included in 2Q11 Results

•		$9.1 million gain on the sale of investment securities with a book value of $156.3 million as Oriental took advantage of market opportunities.
•		$3.6 million in derivative loss from the strategic decision, as previously announced, to sell Oriental’s remaining swap options, purchase new swaps to manage interest rate exposure, and apply hedge accounting on them. As a result, fluctuations in valuation of the swaps that meet the hedge effectiveness requirements are recorded in Other Comprehensive Income.
•		$3.0 million tax benefit from the settlement of various tax contingencies.
•		$1.8 million negative adjustment to interest income from non-covered residential mortgage loans as certain interest receivable accrued in prior years was deemed to be uncollectible.

2Q11 Income Statement Analysis

Unless otherwise noted, all comparisons are to the quarter ended March 31, 2011

•		Total interest income increased 5.5%, to $82.2 million, primarily due to mortgage-backed securities. Excluding the previously mentioned adjustment, interest income from non-covered loans remained level, while interest income from covered loans declined, as these loans continue to pay down.
•		Total interest expense fell 3.1%, to $39.5 million. This reflects both lower cost of deposits (1.89% vs. 1.91%) and of borrowings (2.85% vs. 2.91%).
•		Provision for non-covered loans remained level at $3.8 million, while no provision for covered loans, net of the shared-loss asset, was deemed necessary.
•		As a result of the above factors, net interest income after provision for loan and lease losses increased 18.6%, to $38.9 million, and net interest margin expanded to 2.63% from 2.25%.
•		Assets under management, which generate recurring non-interest income, rose 2.2%, to $4.1 billion at June 30, 2011.
•		Mortgage banking activities increased 24.3%, to $2.4 million, as production picked up 18.2%, to $56.9 million, and Oriental obtained favorable pricing of mortgages sold into the secondary market.
•		Non-interest expenses remained level at $30.7 million.

June 30, 2011 Balance Sheet Analysis

Unless otherwise noted, all comparisons are to the amounts as of March 31, 2011

•

Total loans not covered under shared-loss agreements with the FDIC, net, increased 1.9%, to $1.16 billion, primarily due to a 14.6% increase in commercial loans.

•		Investment securities of $4.5 billion remained approximately level.
•		Approximately 97% of Oriental’s investment portfolio consists of agency mortgage-backed securities guaranteed or issued by FNMA, FHLMC or GNMA.

2Q11 Credit Quality (Loans Not Covered Under the Shared-Loss Agreements with the FDIC)

•		The allowance of $34.2 million increased 4.6%, rising to 2.85% of total non-covered loans and leases versus 2.78% at March 31, 2011.
•		Net credit losses of $2.3 million (0.78% of average loans outstanding) decreased 8.2% from the previous quarter.
•		The increase in non-performing loans primarily reflects the addition of an $8.5 million commercial loan, which is collateralized by an existing, owner-occupied commercial real estate property.

Share Repurchase Program

•		On June 29, 2011, Oriental announced completion of its $30 million common stock repurchase program and the adoption of a new program to purchase an additional $70 million in shares in the open market.
•		Under the $30 million program, initiated in February 2011, Oriental purchased a total of 2,406,303 shares, equal to approximately 5.5% of shares outstanding, at an average price of $12.10 per share.
•		As part of this program, during the second quarter, Oriental returned $16.7 million to shareholders, buying back 1,377,724 shares, at an average price of $12.08 per share.

Capital

•		Oriental continues to maintain regulatory capital ratios well above the requirements for a well-capitalized institution.
•		At June 30, 2011, the Leverage Capital Ratio was 9.74%, Tier-1 Risk-Based Capital Ratio was 30.40%, and Total Risk-Based Capital Ratio was 31.68%.

Conference Call

A conference call to discuss Oriental’s results, outlook and related matters will be held Friday, July 22, 2011, at 10:00 AM Eastern Time. The call will be accessible live via a webcast on Oriental’s Investor Relations website at www.orientalfg.com. A webcast replay will be available shortly thereafter. Access the webcast link in advance to download any necessary software.

About Oriental Financial Group

Oriental Financial Group Inc. is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations, principally through its two subsidiaries, Oriental Bank and Trust and Oriental Financial Services. Now in its 47^th year in business, Oriental provides a full range of commercial, consumer and mortgage banking services, as well as financial planning, trust, insurance, investment brokerage and investment banking services, primarily in Puerto Rico, through 30 financial centers. Investor information about Oriental can be found at www.orientalfg.com.

Non-GAAP Financial Measures

From time to time, Oriental uses certain non-GAAP measures of financial performance to supplement the financial statements presented in accordance with GAAP. Oriental presents non-GAAP measures when its management believes that the additional information is useful and meaningful to investors. Non-GAAP measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with GAAP.

Oriental’s management has reported and discussed the results of operations herein both on a GAAP basis and on a pre-tax operating income basis (defined as net interest income, less provision for non-covered loan and lease losses, plus banking and wealth management revenues, less non-interest expenses, and calculated on the accompanying table). Oriental’s management believes that, given the nature of the items excluded from the definition of pre-tax operating income, it is useful to state what the results of operations would have been without them so that investors can see the financial trends from Oriental’s continuing business.

Tangible common equity consists of common equity less goodwill. Management believes that the ratios of tangible common equity to total assets and to risk-weighted assets assist investors in analyzing Oriental’s capital position.

Forward-Looking Statements

The information included in this document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in forward-looking statements. Factors that might cause such a difference include, but are not limited to (i) the rate of declining growth in the economy and employment levels, as well as general business and economic conditions; (ii) changes in interest rates, as well as the magnitude of such changes; (iii) the fiscal and monetary policies of the federal government and its agencies; (iv) changes in federal bank regulatory and supervisory policies, including required levels of capital; (v) the relative strength or weakness of the consumer and commercial credit sectors and of the real estate market in Puerto Rico; (vi) the performance of the stock and bond markets; (vii) competition in the financial services industry; (viii) possible legislative, tax or regulatory changes; and (ix) difficulties in combining the operations of any acquired entity. For a discussion of such factors and certain risks and uncertainties to which Oriental is subject, see Oriental’s annual report on Form 10-K for the year ended December 31, 2010, as well as its other filings with the U.S. Securities and Exchange Commission. Other than to the extent required by applicable law, including the requirements of applicable securities laws, Oriental assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.

# # #

Contacts:

Puerto Rico: Marilyn Santiago (msantiago@OrientalFG.com), Oriental Financial Group Inc., (787) 993-4648

U.S.: Steven Anreder (steven.anreder@anreder.com) and Gary Fishman (gary.fishman@anreder.com), Anreder & Company, (212) 532-3232

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE: OFG)

		QUARTER ENDED																SIX-MONTH PERIOD ENDED
SUMMARY OF OPERATIONS (Dollars in thousands):		30-Jun-11				30-Jun-10				%				31-Mar-11				30-Jun-11				30-Jun-10				%
Interest Income:
Loans
Loans not covered under shared-loss agreements with the FDIC		$	15,969			$	17,813				-10.4	%		$	17,841			$	33,808			$	35,450				-4.6	%
Loans covered under shared-loss agreements with the FDIC			13,060				11,587				12.7	%			14,226				27,285				11,586				135.5	%
Mortgage-backed securities			51,021				41,519				22.9	%			43,738				94,759				85,113				11.3	%
Investment securities			1,882				8,782				-78.6	%			1,855				3,738				17,845				-79.1	%
Short term investments			270				143				88.8	%			250				520				185				181.1	%
Total interest income			82,202				79,844				3.0	%			77,910				160,110				150,179				6.6	%
Interest Expense:
Deposits			11,588				11,951				-3.0	%			12,214				23,802				23,194				2.6	%
Securities sold under agreements to repurchase			23,512				25,487				-7.7	%			24,159				47,671				50,772				-6.1	%
Advances from FHLB and other borrowings			3,061				3,053				0.3	%			3,049				6,110				6,065				0.7	%
FDIC-guaranteed term notes			1,021				1,021				0.0	%			1,021				2,042				2,042				0.0	%
Note payable to the FDIC			—				1,064				-100.0	%			—				—				1,064				-100.0	%
Subordinated capital notes			308				305				1.0	%			302				611				603				1.3	%
Total interest expense			39,490				42,881				-7.9	%			40,745				80,236				83,740				-4.2	%
Net interest income			42,712				36,963				15.6	%			37,165				79,874				66,439				20.2	%
Provision for non-covered loan and lease losses			3,800				4,100				-7.3	%			3,800				7,600				8,114				-6.3	%
Provision for covered loan and lease losses, net			—				—				0.0	%			549				549				—				100.0	%
Net interest income after provision for loan and lease losses			38,912				32,863				18.4	%			32,816				71,725				58,325				23.0	%
Non-Interest Income (Loss):
Wealth management revenues			4,572				4,625				-1.1	%			4,676				9,249				8,603				7.5	%
Banking service revenues			3,306				3,041				8.7	%			3,835				7,143				4,663				53.2	%
Mortgage banking activities			2,435				2,339				4.1	%			1,959				4,394				4,136				6.2	%
Investment banking revenues (losses)			—				34				-100.0	%			6				6				34				-82.4	%
Total banking and wealth management revenues			10,313				10,039				2.7	%			10,476				20,792				17,436				19.2	%
Total loss on other-than-temporarily impaired securities			—				(1,796	)			-100.0	%			—				—				(41,386	)			-100.0	%
Portion of loss on securities recognized in other comprehensive income			—				—				0.0	%			—				—				38,958				-100.0	%
Other-than-temporary impairments on securities			—				(1,796	)			-100.0	%			—				—				(2,428	)			-100.0	%
Accretion of FDIC loss-share indemnification asset			1,020				1,314				-22.4	%			1,211				2,231				1,314				69.8	%
Net gain (loss) on:
Sales of securities			9,132				11,833				-22.8	%			(2	)			9,130				23,853				-61.7	%
Derivatives			(3,603	)			(26,615	)			-86.5	%			(3,968	)			(7,571	)			(37,251	)			-79.7	%
Trading securities			(6	)			1				-700.0	%			(31	)			(37	)			(2	)			1750.0	%
Fair value adjustment on FDIC equity appreciation instrument			—				909				-100.0	%			—				—				909				-100.0	%
Foreclosed real estate			(3	)			(26	)			-88.5	%			(132	)			(135	)			(143	)			-5.6	%
Other			7				7				0.0	%			(27	)			(20	)			17				-217.6	%
Total non-interest income (loss), net			16,860				(4,334	)			-489.0	%			7,527				24,390				3,705				558.3	%
Non-Interest Expenses:
Compensation and employee benefits			11,230				10,433				7.6	%			11,688				22,918				18,683				22.7	%
Professional and service fees			5,750				3,920				46.7	%			5,451				11,201				6,073				84.4	%
Occupancy and equipment			4,214				4,404				-4.3	%			4,405				8,619				7,998				7.8	%
Insurance			1,646				1,733				-5.0	%			1,985				3,632				3,566				1.9	%
Electronic banking charges			1,155				1,112				3.9	%			1,454				2,610				1,791				45.7	%
Taxes, other than payroll and income taxes			858				1,261				-32.0	%			1,380				2,237				2,118				5.6	%
Advertising, business promotion, and strategic initiatives			1,508				1,364				10.6	%			1,192				2,700				2,064				30.8	%
Loan servicing and clearing expenses			1,076				793				35.7	%			1,021				2,097				1,518				38.1	%
Foreclosure and repossession expenses			761				523				45.5	%			729				1,490				825				80.6	%
Communication			425				735				-42.2	%			397				822				1,078				-23.7	%
Directors and investor relations			339				388				-12.6	%			287				625				703				-11.1	%
Printing, postage, stationery and supplies			362				292				24.0	%			282				644				495				30.1	%
Other			1,372				892				53.8	%			519				1,891				1,330				42.2	%
Total non-interest expenses			30,696				27,850				10.2	%			30,790				61,486				48,242				27.5	%
Income before income taxes			25,076				679				3593.1	%			9,553				34,629				13,788				151.2	%
Income tax expense (benefit)			(1,391	)			34				-4191.2	%			6,472				5,081				1,206				321.3	%
Net income			26,467				645				4003.4	%			3,081				29,548				12,582				134.8	%
Less: Dividends on preferred stock			(1,200	)			(1,733	)			-30.8	%			(1,201	)			(2,402	)			(2,934	)			-18.1	%
Less: Allocation of undistributed earnings for participating preferred shares			—				(3,104	)			-100.0	%			—				—				(3,104	)			-100.0	%
Income available (loss) to common shareholders		$	25,267			$	(4,192	)			-702.7	%		$	1,880			$	7,146			$	6,544				314.8	%

ORIENTAL FINANCIAL GROUP

Financial Summary

(NYSE: OFG)

		QUARTER ENDED																SIX-MONTH PERIOD ENDED
(Dollars in thousands, except per share data)		30-Jun-11				30-Jun-10				%				31-Mar-11				30-Jun-11				30-Jun-10				%
PRE-TAX OPERATING INCOME
Net interest income		$	42,712			$	36,963				15.6	%		$	37,165			$	79,874			$	66,439				20.2	%
Less provision for non-covered loan and lease losses			(3,800	)			(4,100	)			-7.3	%			(3,800	)			(7,600	)			(8,114	)			6.3	%
Core non-interest income:
Wealth management revenues			4,572				4,625				-1.1	%			4,676				9,249				8,603				7.5	%
Banking service revenues			3,306				3,041				8.7	%			3,835				7,143				4,663				53.2	%
Mortgage banking activities			2,435				2,339				4.1	%			1,959				4,394				4,136				6.2	%
Investment banking revenues			—				34				-100.0	%			6				6				34				100.0	%
Total core non-interest income			10,313				10,039				2.7	%			10,476				20,792				17,436				19.2	%
Less non interest expenses			(30,696	)			(27,850	)			10.2	%			(30,790	)			(61,486	)			(48,242	)			-27.5	%
Total Pre-tax operating income		$	18,529			$	15,052				23.1	%		$	13,051			$	31,580			$	27,519				14.8	%
INCOME (LOSS) PER COMMON SHARE
Basic		$	0.56			$	(0.13	)			-542.4	%		$	0.04			$	0.60			$	0.22				168.3	%
Diluted		$	0.56			$	(0.13	)			-541.5	%		$	0.04			$	0.59			$	0.22				167.8	%
COMMON STOCK DATA
Average common shares outstanding and equivalents			45,135				33,053				36.6	%			46,179				45,656				29,471				54.9	%
Cash dividends per share of common stock		$	0.05			$	0.04				25.1	%		$	0.05			$	0.10			$	0.08				26.8	%
Cash dividends declared on common shares		$	2,206			$	1,322				66.9	%		$	2,269			$	4,475			$	2,644				69.2	%
Pay-out ratio			8.95	%			-31.60	%			-128.3	%			122.85	%			17.10	%			36.11	%			-52.6	%
SELECTED FINANCIAL DATA
PERFORMANCE RATIOS:
Return on average assets			1.48	%			0.03	%			4172.5	%			0.17	%			0.82	%			0.37	%			122.5	%
Return on average common equity			15.36	%			-4.07	%			477.6	%			1.15	%			8.26	%			3.62	%			128.2	%
Equity-to-assets ratio			10.23	%			9.05	%			13.0	%			9.94	%			10.23	%			9.05	%			13.0	%
Efficiency ratio			57.89	%			59.25	%			-2.3	%			64.63	%			61.08	%			57.52	%			6.2	%
Expense ratio			1.26	%			1.04	%			20.6	%			1.23	%			1.24	%			0.95	%			30.3	%
TAX EQUIVALENT SPREAD
Interest-earning assets			5.06	%			4.67	%			8.4	%			4.72	%			4.89	%			4.65	%			5.2	%
Tax equivalent adjustment			0.70	%			1.36	%			-48.5	%			0.69	%			0.69	%			0.72	%			-4.2	%
Interest-earning assets — tax equivalent			5.76	%			6.03	%			-4.5	%			5.41	%			5.58	%			5.37	%			3.9	%
Interest-bearing liabilities			2.48	%			2.54	%			-2.4	%			2.51	%			2.50	%			2.66	%			-6.0	%
Tax equivalent interest rate spread			3.28	%			3.49	%			-6.0	%			2.90	%			3.08	%			2.71	%			13.7	%
Tax equivalent interest rate margin			3.33	%			3.52	%			-5.4	%			2.94	%			3.13	%			2.78	%			12.6	%
NORMAL SPREAD
Investments			4.49	%			3.90	%			15.1	%			3.80	%			4.14	%			4.09	%			1.2	%
Loans
Loans not covered under shared-loss agreements with the FDIC			5.42	%			6.17	%			-12.2	%			6.11	%			5.75	%			6.15	%			-6.5	%
Loans covered under shared-loss agreements with the FDIC			9.12	%			8.89	%			2.6	%			9.30	%			9.21	%			8.89	%			3.6	%
			6.63	%			7.02	%			-5.6	%			7.20	%			6.91	%			6.66	%			3.8	%
Interest-earning assets			5.06	%			4.67	%			8.4	%			4.72	%			4.89	%			4.65	%			5.2	%
Deposits
Retail deposits			1.83	%			2.37	%			-22.78	%			1.98	%			1.91	%			2.36	%			-19.07	%
Wholesale deposits			2.17	%			1.26	%			72.22	%			1.61	%			1.87	%			2.04	%			-8.33	%
			1.89	%			2.08	%			-9.13	%			1.91	%			1.90	%			2.29	%			-17.03	%
Borrowings
Securities sold under agreements to repurchase			2.72	%			2.86	%			-4.9	%			2.79	%			2.75	%			2.84	%			-3.2	%
Advances from FHLB and other borrowings			3.84	%			3.70	%			3.8	%			3.79	%			3.83	%			3.70	%			3.5	%
FDIC-guaranteed term notes			3.88	%			3.88	%			0.0	%			3.86	%			3.87	%			3.87	%			0.0	%
Purchase money note issued to the FDIC			—				1.01	%			—				—				—				1.01	%			—
Subordinated capital notes			3.41	%			3.38	%			0.9	%			3.35	%			3.39	%			3.34	%			1.5	%
			2.85	%			2.77	%			2.9	%			2.91	%			2.88	%			2.84	%			1.4	%
Interest-bearing liabilities			2.48	%			2.54	%			-2.4	%			2.51	%			2.50	%			2.66	%			-6.0	%
Interest rate spread			2.58	%			2.13	%			21.1	%			2.21	%			2.39	%			1.99	%			20.1	%
Interest rate margin			2.63	%			2.16	%			21.8	%			2.25	%			2.44	%			2.06	%			18.4	%
AVERAGE BALANCES
Investments		$	4,741,578			$	5,169,087				-8.3	%		$	4,821,029			$	4,781,056			$	5,045,001				-5.2	%
Loans			1,751,074				1,675,227				4.5	%			1,780,341				1,767,620				1,412,676				25.1	%
Interest-earning assets		$	6,492,652			$	6,844,314				-5.1	%		$	6,601,370			$	6,548,676			$	6,457,678				1.4	%
Deposits		$	2,446,652			$	2,298,265				6.5	%		$	2,560,501			$	2,503,209			$	2,029,539				23.3	%
Borrowings			3,922,568				4,461,755				-12.1	%			3,925,939				3,923,244				4,258,742				-7.9	%
Interest-bearing liabilities		$	6,369,220			$	6,760,020				-5.8	%		$	6,486,440			$	6,426,453			$	6,288,282				2.2	%

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE: OFG)

		AS OF
(Dollars in thousands)		30-Jun-11				30-Jun-10				%				31-Mar-11				31-Dec-10
BALANCE SHEET
Cash and cash equivalents		$	281,029			$	472,635				-40.6	%		$	317,411			$	448,946
Investments:
Trading securities			864				56				1442.9	%			1,444				1,330
Investment securities available-for-sale, at fair value, with amortized cost of $3,529,671 (June 30, 2010 - $4,913,939, March 31, 2011 - $3,562,749, December 31, 2010 - $3,661,146):
FNMA and FHLMC certificates			3,106,006				3,647,734				-14.9	%			3,187,292				3,282,190
Obligations of US Government sponsored agencies			—				603,735				-100.0	%			—				3,000
Non-agency collateralized mortgage obligations			—				71,805				-100.0	%			—				—
CMO’s issued by US Government sponsored agencies			246,663				204,920				20.4	%			160,508				177,804
GNMA certificates			98,892				303,637				-67.4	%			117,710				127,714
Structured credit investments			45,713				41,606				9.9	%			45,162				41,693
Obligations of Puerto Rico Government and political subdivisions			77,703				68,091				14.1	%			77,258				67,663
Other debt securities			6,110				—				100.0	%			—				—
Total investment securities available-for-sale			3,581,087				4,941,528				-27.5	%			3,587,930				3,700,064
FNMA and FHLMC certificates held-to-maturity, at amortized cost, with fair value of $858,226 (March 31, 2011 - $855,816, December 31, 2010 - $675,721)			863,779				—				100.0	%			875,494				689,917
Federal Home Loan Bank (FHLB) stock, at cost			23,779				22,496				5.7	%			22,496				22,496
Other investments			150				150				0.0	%			150				150
Total investments			4,469,659				4,964,230				-10.0	%			4,487,514				4,413,957
Securities sold but not yet delivered			—				1,490				-100.0	%			—				—
Loans:
Loans not covered under shared-loss agreements with the FDIC:
Mortgage			849,843				900,356				-5.6	%			861,602				872,482
Commercial			264,962				208,102				27.3	%			231,288				234,992
Leasing			17,104				1,451				1078.8	%			13,763				10,257
Consumer			37,560				27,642				35.9	%			38,818				35,942
Total loans receivable not covered under shared-loss agreements with the FDIC, gross			1,169,469				1,137,551				2.8	%			1,145,471				1,153,673
Less: Deferred loan fees, net			(4,780	)			(3,590	)			33.1	%			(4,390	)			(4,354	)
Total loans receivable not covered under shared-loss agreements with the FDIC			1,164,689				1,133,961				2.7	%			1,141,081				1,149,319
Allowance for loan and lease losses on non-covered loans			(34,229	)			(28,002	)			22.2	%			(32,727	)			(31,430	)
Loans receivable, net			1,130,460				1,105,959				2.2	%			1,108,354				1,117,889
Mortgage loans held for sale			34,246				27,519				24.4	%			34,216				33,979
Total loans not covered under shared-loss agreements with the FDIC, net			1,164,706				1,133,478				2.8	%			1,142,570				1,151,868
Loans covered under shared-loss agreements with the FDIC:
Loans secured by 1-4 family residential properties			160,362				178,097				-10.0	%			161,145				166,865
Construction and development secured by 1-4 family residential properties			14,688				19,048				-22.9	%			16,516				17,253
Commercial and other construction			345,349				424,794				-18.7	%			378,940				388,240
Leasing			58,290				114,707				-49.2	%			69,630				79,093
Consumer			16,890				21,524				-21.5	%			17,140				18,546
Loans covered under shared-loss agreements with the FDIC			595,579				758,170				-21.4	%			643,371				669,997
Allowance for loan and lease losses on covered loans			(53,036	)			—				-100.0	%			(53,480	)			(49,286	)
Loans covered under shared-loss agreements with the FDIC, net			542,543				758,170				-28.4	%			589,891				620,711
Total loans, net			1,707,249				1,891,648				-9.7	%			1,732,461				1,772,579
FDIC shared-loss indemnification asset			437,434				546,527				-20.0	%			436,889				471,872
Foreclosed real estate covered under shared-loss agreements with the FDIC			16,918				15,463				9.4	%			16,212				14,871
Foreclosed real estate not covered under shared-loss agreements with the FDIC			12,031				12,277				-2.0	%			12,793				11,969
Other repossessed assets covered under shared-loss agreements with the FDIC			1,893				3,091				-38.8	%			2,503				2,350
Core deposit intangible			1,257				1,399				-10.2	%			1,292				1,328
FDIC loss share receivable			3,199				1,099				191.1	%			2,022				1,757
Accrued interest receivable			26,430				34,633				-23.7	%			28,634				28,716
Deferred tax asset, net			32,637				27,375				19.2	%			30,786				30,732
Prepaid FDIC Insurance			13,851				19,565				-29.2	%			15,173				16,796
Premises and equipment, net			23,649				18,113				30.6	%			23,353				23,941
Other prepaid expenses			11,572				9,175				26.1	%			8,093				7,858
Derivative asset			90				—				100.0	%			7,203				11,023
Servicing asset			9,840				9,285				6.0	%			9,963				9,695
Tax credits			2,604				3,432				-24.1	%			3,105				3,432
Debt issuance costs			1,683				2,915				-42.3	%			1,991				2,299
Goodwill			2,370				2,370				0.0	%			2,370				2,370
Investment in statutory trust			1,086				1,086				0.0	%			1,086				1,086
Investment in equity indexed options			11,925				4,433				169.0	%			11,764				9,870
Investment in swap options			—				—				0.0	%			7,804				7,422
Accounts receivable and other assets			14,141				13,135				7.7	%			15,840				15,855
Total assets		$	7,082,547			$	8,055,376				-12.1	%		$	7,176,262			$	7,310,724

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE: OFG)

		AS OF
(Dollars in thousands)		30-Jun-11				30-Jun-10				%				31-Mar-11				31-Dec-10
Deposits:
Non-interest bearing demand deposits		$	182,658			$	168,771				8.0	%		$	175,679			$	170,705
Interest-bearing savings and demand deposits			1,007,659				921,465				9.4	%			1,012,710				1,019,539
Individual retirement accounts			356,764				340,273				4.8	%			358,688				361,972
Retail certificates of deposit			438,532				419,655				4.5	%			490,313				477,180
Total Retail Deposits			1,985,613				1,850,164				7.3	%			2,037,390				2,029,396
Institutional deposits			211,032				544,146				-61.2	%			240,779				280,617
Brokered Deposits			188,586				144,114				30.9	%			223,303				278,875
Total deposits			2,385,231				2,538,424				-6.1	%			2,501,472				2,588,888
Borrowings:
Short-term borrowings			31,812				45,200				-29.6	%			32,335				42,470
Securities sold under agreements to repurchase			3,459,135				3,557,087				-2.8	%			3,456,605				3,456,781
Advances from FHLB			281,747				281,735				0.0	%			281,687				281,753
FDIC-guaranteed term notes			105,834				105,834				0.0	%			105,112				105,834
Note payable to the FDIC			—				711,076				-100.0	%			—				—
Subordinated capital notes			36,083				36,083				0.0	%			36,083				36,083
Total borrowings			3,914,611				4,737,015				-17.4	%			3,911,822				3,922,921
Total interest-bearing liabilities			6,299,842				7,275,439				-13.4	%			6,413,294				6,511,809
Securities purchased but not yet received			—				533				-100.0	%			—				—
FDIC net settlement payable			602				3,789				-84.1	%			1,911				22,954
Derivative liability			13,918				3,374				312.5	%			—				64
Accrued expenses and other liabilities			43,828				42,902				2.2	%			47,929				43,566
Total liabilities			6,358,190				7,326,037				-13.2	%			6,463,134				6,578,393
Preferred stock			68,000				245,289				-72.3	%			68,000				68,000
Additional paid-in capital from beneficial conversion feature			—				22,711				-100.0	%			—				—
Common stock			47,808				34,481				38.7	%			47,808				47,808
Additional paid-in capital			498,556				288,749				72.7	%			498,303				498,435
Legal surplus			49,414				46,655				5.9	%			46,717				46,331
Retained earnings			71,091				83,212				-14.6	%			50,727				51,502
Treasury stock, at cost			(45,386	)			(17,120	)			165.1	%			(28,746	)			(16,732	)
Accumulated other comprehensive income, net			34,874				25,362				37.5	%			30,319				36,987
Total stockholders’ equity			724,357				729,339				-0.7	%			713,128				732,331
Total liabilities and stockholders’ equity		$	7,082,547			$	8,055,376				-12.1	%		$	7,176,262			$	7,310,724
SELECTED FINANCIAL DATA AT PERIOD-END
Common shares outstanding at end of period			44,009				32,988				33.4	%			45,375				46,349
Book value per common share		$	14.91			$	13.99				6.6	%		$	14.22			$	14.33
Tangible book value per common share		$	14.83			$	13.87				6.9	%		$	14.14			$	14.25
Trust assets managed		$	2,266,770			$	1,859,941				21.9	%		$	2,245,158			$	2,175,270
Broker-dealer assets gathered			1,859,580				1,347,224				38.0	%			1,792,264				1,695,634
Total assets managed		$	4,126,350			$	3,207,165				28.7	%		$	4,037,422			$	3,870,904