OFG Bancorp (OFG) 8-K Strong Profit Growth Reflects Increased Net Interest Income

Exhibit 99

Puerto Rico Contact:
Juan C. Cruz,
Oriental Financial Group
(787) 771-6820

U.S. Contact:
Steven Anreder and Gary Fishman,
Anreder & Company
(212) 532-3232

ORIENTAL FINANCIAL GROUP REPORTS RESULTS FOR THE QUARTER ENDED JUNE 30, 2007

Strong Profit Growth Reflects Increased Net Interest Income

SAN JUAN, Puerto Rico, July 26, 2007 — Oriental Financial Group Inc. (NYSE: OFG) today announced results for the second quarter and six months ended June 30, 2007.

For the second quarter, the Group reported income available to common shareholders of $5.2 million, or $0.21 per common share (basic and diluted), significantly better than the income of $1.3 million, or $0.05 per share, in the corresponding year ago quarter. The results of operations for the second quarter also compare favorably to the first quarter of 2007, when the Group reported income of $9.8 million, or $0.40 per share, which included a gain of $8.2 million (or $0.33 per share basic and diluted) from the elimination of forecasted transactions on interest rate swaps unwound in 2006.

For the six months, the Group reported income available to common shareholders of $15.0 million, or $0.61 per common share (basic and diluted), compared to $8.1 million, or $0.33 per share, in the corresponding year ago period.

Commentary and Outlook

José Rafael Fernández, President and Chief Executive Officer, said: “Profitability improved year over year and quarter over quarter (excluding the aforementioned one time gain in the previous quarter) primarily due to a strong increase in net interest income. The increase is the direct result of the Group’s previously announced repositioning of its available-for-sale (AFS) securities portfolio and the restructuring of the repurchase agreement funding portfolio, designed to achieve a favorable spread on both the AFS and held-to-maturity portfolios through 2008. Net interest income growth also benefited from continued increases in our loan portfolio and recent stability of short term interest rates.

“Net interest income of $17.7 million increased 65.2% year over year and 33.3% quarter over quarter, while net interest margin (NIM) of 1.40% represented increases of 44 basis points year over year and 22 basis points quarter over quarter. This is the first time since the December 2002 quarter that NIM has grown two quarters sequentially. The increase in net interest income enabled Oriental to more than offset higher non-interest expenses and slower loan activity as we ride out current economic conditions in Puerto Rico.”

Puerto Rico’s economy of late has experienced slower than normal growth, although recent government efforts to increase public works projects and tourism activity are expected to have a beneficial impact as the year progresses.

“Having better positioned the investment and funding portfolios for the present and foreseeable interest rate environment, Oriental is increasingly focused on expanding its core strength in financial services for mid-net worth individuals and families, and high net worth professionals,” Mr. Fernández said. “At the same time, we will continue to work on increasing operational efficiencies. Our capital position is very strong, which provides us with a great degree of flexibility going forward.”

Analysis of Second Quarter 2007 Results of Operations

Interest income of $70.8 million for the 2007 second quarter increased 24.4% year over year and 15.1% quarter over quarter, primarily due to higher investment yields and loan balances. Investment yield at 5.12% improved year over year from 4.40% and quarter over quarter from 4.85%, while average loan balances at $1.26 billion were 28.9% greater year over year and up 1.8% quarter over quarter. At the same time, interest expense of $53.1 million increased at a slower pace than interest income, primarily due to lower rates on borrowings of 4.51% versus 4.68% in the year ago quarter and 4.77% in the preceding quarter.

The sequential quarter increase in the average balances of investment securities and borrowings reflects new higher yielding securities and lower cost borrowings put in place as part of the AFS portfolio repositioning in December 2006 and repo restructuring implemented over the course of the first quarter and which were fully in place at the start of the second quarter.

Total non-interest income of $7.8 million increased 3.7% year over year and 10.6% quarter over quarter (excluding the aforementioned gain in the previous quarter). Financial and banking service revenues of $6.3 million combined decreased from $6.7 million in the preceding quarter, primarily due to a decrease in income from insurance activities as a result of reduced mortgage and consumer loan production.

Non-interest expenses of $17.5 million increased 18.2% year over year and 10.4% quarter over quarter. Second quarter expenses included more than $1.5 million from items such as the launch of a new television advertising campaign, certain improvements to the information technology platform, professional service fees, severance costs related to “right sizing” the mortgage business in line with market demand and foreclosure expenses. Most of these expenses are not expected to recur in the second half of 2007.

June 30, 2007 Balance Sheet Analysis

At June 30, 2007, total net loans amounted to $1.27 billion, an increase of 10.2% year over year and 3.1% quarter over quarter, primarily reflecting increases in mortgage loans. During the quarter, Oriental purchased from another financial institution a portfolio of approximately $44 million of residential mortgage loans with average FICO credit scores of more than 700 and average loan to value ratios below 80%. This purchase more than offset the decrease in the production of mortgage loans compared to the previous quarter.

At June 30, 2007, deposits amounted to $1.33 billion, an increase of 9.5% year over year remaining substantially flat quarter over quarter. The year over year change reflects a 90.7% increase in savings, due to the continued success of the Oriental Money savings account, which more than offset a 20.9% decline in demand deposits.

Borrowings at June 30, 2007 totaled $3.52 billion, up 8.6% year over year, reflecting increases in lower cost repos and federal funds purchased, which more than offset declines in higher priced advances from the Federal Home Loan Bank of New York, and the previously announced reductions of subordinated capital and term notes. The borrowing levels were approximately even quarter over quarter.

Credit Quality

Net credit losses in the June 2007 quarter remained relatively low at less than $1.0 million (0.31% of average loans outstanding) compared to approximately $1.0 million (0.34%) during the March 2007 quarter and $0.6 million (0.25%) during the June 2006 quarter.

Oriental’s provision for loan losses amounted to $1.4 million in the June 2007 quarter (139.0% of net credit losses) compared to $1.1 million in the March 2007 quarter (102.9%) and $1.0 million in the June 2006 quarter (156.3%). The provision is based on an analysis by the Group of the credit quality and composition of its loan portfolio to maintain the allowance at an adequate level.

At June 30, 2007, non-performing loans were $50.1 million (3.91% of total loans), compared to $43.9 million (3.53%) at March 31, 2007 and $29.4 million (2.53%) at June 30, 2006. The current level reflects an increase of $6.5 million from the March 2007 quarter in non-performing residential mortgage loans due to the current slow economy in Puerto Rico. This increase is not expected to translate into significantly higher losses as these loans are generally well collateralized with adequate loan to value ratios.

Capital

Stockholders’ equity amounted to $313.5 million at June 30, 2007 compared to $338.3 million at March 31, 2007 and $340.3 million at June 30, 2006. Excluding $68.0 million of preferred equity, equal to approximately $2.77 per share, which is included in stockholders’ equity, book value per common share at June 30, 2007 amounted to $10.01 compared to $11.04 at March 31, 2007 and $11.09 at June 30, 2006.

The quarter over quarter decline in stockholders’ equity reflects an increase in the accumulated other comprehensive loss as long rates increased during the June 2007 quarter, resulting in increased unrealized loss on the AFS portfolio from the levels in the March 2007 quarter. The investment securities that were affected in the mark to market valuation are funded with long-term repos with lockout periods of one and two years, which would have a positive effect in other comprehensive income if reported at fair value.

The Group’s capital ratios remain significantly above regulatory capital requirements. At June 30, 2007, the Leverage Capital Ratio was 7.23%, Tier I Risk-Based Capital Ratio was 19.32%, and Total Risk-Based Capital Ratio was 19.75%.

During the June 2007 quarter, Oriental repurchased 45,000 shares of common stock at an average price of $11.83 per share and a total cost of $532,132, leaving approximately $7.5 million available under the Group’s current stock repurchase program.

Mortgage Related Transactions

Mr. Fernández also announced that during and after the end of the second quarter, Oriental entered into several transactions to enhance the servicing of its mortgage loan portfolio.

• On June 15, 2007, Oriental acquired from Doral Financial Corporation all the servicing rights on the portion of Oriental’s mortgage loan portfolio that Doral had been servicing.

• On July 13, 2007, Oriental unwound certain mortgage related transactions entered in 2004 and 2005 with R-G Premier Bank of Puerto Rico (these transactions were subsequently reclassified as a single commercial loan) with an unpaid principal balance of $71.4 million as of July 1, 2007. Oriental has retained certain mortgage loans with an unpaid principal balance of $26.6 million as of such date, R-G substituted certain mortgage loans with an unpaid principal balance of $25.9 million as of such date with mortgage loans selected by Oriental that comply with its credit underwriting policies, and the remaining balance of the loan was paid by R-G in cash. Oriental will classify as residential mortgage loans the new balance of $52.5 million in loans that it purchased from R-G on a servicing released basis.

• Oriental now owns the servicing rights for all its outstanding mortgage loans and has contracted out the sub-servicing to a third party.

About Oriental Financial Group

Oriental Financial Group Inc. is a diversified financial holding company operating under U.S. and Puerto Rico banking laws and regulations. Now in its 42^nd year in business, Oriental provides a full range of mortgage, commercial and consumer banking services through 24 financial centers in Puerto Rico, as well as financial planning, trust, insurance, investment brokerage and investment banking services. Investor information about Oriental can be found atwww.orientalfg.com.

Forward-Looking Statements

This news release may contain forward-looking statements that reflect management’s beliefs and expectations and are subject to risks and uncertainties inherent to the Group’s business, including, without limitation, the effect of economic and market conditions, the level and volatility of interest rates, and other risks and considerations detailed in the Group’s filings with the Securities and Exchange Commission. These or other factors could cause actual results to differ materially from forward-looking statements. The Group also disclaims any obligations to update information contained in this news release as a result of developments occurring after the date of issuance.

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE:OFG)

	QUARTER ENDED												SIX-MONTH PERIOD ENDED
	30-Jun-07			30-Jun-06			%			31-Mar-07			30-Jun-07			30-Jun-06			%
Summary of Operations (in thousands, except per share data):
Interest Income:
Loans	$	22,315		$	18,311			21.9	%	$	21,849		$	44,163		$	34,564			27.8	%
Investment securities		48,486			38,583			25.7	%		39,651			88,137			78,322			12.5	%
Total interest income		70,801			56,894			24.4	%		61,500			132,300			112,886			17.2	%
Interest Expense:
Deposits		13,601			11,146			22.0	%		12,370			25,849			21,644			19.4	%
Securities sold under agreements to repurchase		36,546			31,128			17.4	%		32,789			69,334			57,491			20.6	%
Other borrowed funds		2,964			3,912			-24.2	%		3,075			6,039			7,831			-22.9	%
Total interest expense		53,111			46,186			15.0	%		48,234			101,222			86,966			16.4	%
Net interest income		17,690			10,708			65.2	%		13,266			31,078			25,920			19.9	%
Provision for loan losses		(1,375	)		(947	)		45.2	%		(1,075	)		(2,450	)		(2,048	)		19.6	%
Net interest income after provision for loan losses		16,315			9,761			67.1	%		12,191			28,628			23,872			19.9	%
Non-Interest Income:
Financial service revenues		4,049			4,066			-0.4	%		4,843			8,892			7,317			21.5	%
Banking service revenues		2,265			2,511			-9.8	%		1,874			4,139			4,687			-11.7	%
Investment banking revenue		—			852			-100.0	%		—			—			2,561			-100.0	%
Mortgage banking activities		170			634			-73.2	%		62			232			1,070			-78.3	%
Total banking and financial service revenues		6,484			8,063			-19.6	%		6,779			13,263			15,635			-15.2	%
Net gain (loss) on sale of securities		12			(8	)		250.0	%		358			371			40			827.5	%
Net gain (loss) on derivatives		88			(23	)		482.6	%		8,418			8,384			859			876.0	%
Income (loss) from other investments		1,159			(574	)		301.9	%		(383	)		777			(270	)		387.8	%
Other		53			63			-15.9	%		79			132			210			-37.1	%
Total non-interest income		7,796			7,521			3.7	%		15,251			22,927			16,474			39.2	%
Non-Interest Expenses:
Compensation and employees’ benefits		6,916			5,627			22.9	%		6,745			13,661			11,801			15.8	%
Occupancy and equipment		3,343			2,793			19.7	%		2,994			6,337			5,682			11.5	%
Professional and service fees		1,984			1,546			28.3	%		1,538			3,522			2,902			11.5	%
Advertising and business promotion		1,118			1,077			3.8	%		793			1,911			2,014			-5.1	%
Directors and investor relations expenses		769			295			160.7	%		531			1,300			708			83.6	%
Loan servicing expenses		540			509			6.1	%		523			1,063			964			10.3	%
Taxes, other than payroll and income taxes		489			573			-14.7	%		448			937			1,173			-20.1	%
Electronic banking charges		457			494			-7.5	%		458			916			962			-4.8	%
Clearing and Wrap fees expenses		310			393			-21.1	%		366			675			789			-14.4	%
Communication		308			395			-22.0	%		338			646			843			-23.4	%
Insurance		211			219			-3.7	%		216			427			432			-1.2	%
Foreclosure expenses		338			131			158.0	%		68			405			232			74.6	%
Printing, postage, stationery and supplies		189			359			-47.4	%		202			391			544			-28.1	%
Other		505			373			35.4	%		607			1,113			622			78.9	%
Total non-interest expenses		17,476			14,784			18.2	%		15,827			33,304			29,667			12.3	%
Income before income taxes		6,635			2,498			165.6	%		11,615			18,251			10,679			70.9	%
Income tax expense (benefit)		187			(21	)		990.5	%		624			811			110			637.3	%
Net income		6,448			2,519			156.0	%		10,991			17,440			10,569			65.0	%
Less: Dividends on preferred stock		(1,200	)		(1,201	)		0.1	%		(1,200	)		(2,401	)		(2,401	)		0.0	%
Income available to common shareholders	$	5,248		$	1,318			298.2	%	$	9,791		$	15,039		$	8,168			84.1	%

1 of 5

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE:OFG)

	QUARTER ENDED													SIX-MONTH PERIOD ENDED
	30-Jun-07			30-Jun-06				%			31-Mar-07			30-Jun-07			30-Jun-06			%
EARNINGS PER SHARE
Basic	$	0.21		$	0.05				320.0	%	$	0.40		$	0.61		$	0.33			84.8	%
Diluted	$	0.21		$	0.05				320.0	%	$	0.40		$	0.61		$	0.33			84.8	%
DIVIDEND DATA
Average common shares outstanding		24,488			24,599				-0.5	%		24,472			24,480			24,608			-0.5	%
Average potential common shares-options		75			106				-29.2	%		93			97			128			-24.2	%
Total average shares outstanding and equivalents		24,563			24,705				-0.6	%		24,565			24,577			24,736			-0.6	%
Common shares outstanding at end of period												24,483			24,520			24,578			-0.2	%
Book value per common share												11.04			9.99			11.08			-9.8	%
Cash dividends per share of common stock	$	0.14		$	0.14				0.0	%	$	0.14		$	0.28		$	0.28			0.0	%
Cash dividends declared on common share	$	3,432		$	3,421				0.3	%	$	3,426		$	6,858		$	6,888			-0.5	%
Pay-out ratio		66.67	%		280.00	%			-76.2	%		35.00	%		45.90	%		84.85	%		-46.0	%
SELECTED FINANCIAL DATA
PERFORMANCE RATIOS:
Return on average assets		0.49	%		0.22	%			122.7	%		1.01	%		1.40	%		0.92	%		52.2	%
Return on average common equity		7.87	%		1.94	%			306.0	%		14.54	%		11.22	%		7.93	%		41.5	%
Efficiency ratio		68.99	%		78.76	%			-12.4	%		78.95	%		73.82	%		71.39	%		3.4	%
TAX EQUIVALENT SPREAD
Interest-earning assets		5.61	%		5.08	%			10.4	%		5.46	%		5.54	%		5.06	%		9.5	%
Tax equivalent adjustment		1.16	%		1.17	%			-0.9	%		1.30	%		1.19	%		1.20	%		-0.8	%
Interest-earning assets — tax equivalent		6.77	%		6.25	%			8.3	%		6.76	%		6.73	%		6.26	%		7.5	%
Interest-bearing liabilities		4.44	%		4.38	%			1.4	%		4.57	%		4.50	%		4.17	%		7.9	%
Tax equivalent interest rate spread		2.33	%		1.87	%			24.6	%		2.19	%		2.23	%		2.09	%		6.7	%
Tax equivalent interest rate margin		2.56	%		2.13	%			20.2	%		2.48	%		2.49	%		2.36	%		5.5	%
NORMAL SPREAD
Investments		5.12	%		4.40	%			16.4	%		4.85	%		4.99	%		4.46	%		11.9	%
Loans		7.10	%		7.51	%			-5.5	%		7.07	%		7.09	%		7.29	%		-2.7	%
Interest-earning assets		5.61	%		5.08	%			10.4	%		5.46	%		5.54	%		5.06	%		9.5	%
Deposits		4.25	%		3.65	%			16.4	%		4.08	%		4.15	%		3.52	%		17.9	%
Borrowings		4.51	%		4.68	%			-3.6	%		4.77	%		4.63	%		4.45	%		4.0	%
Interest-bearing liabilities		4.44	%		4.38	%			1.4	%		4.57	%		4.50	%		4.17	%		7.9	%
Interest rate spread		1.17	%		0.70	%			67.1	%		0.89	%		1.04	%		0.89	%		16.9	%
							��
Interest rate margin		1.40	%		0.96	%			45.8	%		1.18	%		1.30	%		1.16	%		12.1	%
AVERAGE BALANCE
Investments		3,789,419			3,505,041				8.1	%		3,269,937			3,531,113			3,512,323			0.5	%
Loans		1,257,308			975,567				28.9	%		1,235,569			1,246,499			948,809			31.4	%
Interest-earning assets		5,046,727			4,480,608				12.6	%		4,505,506			4,777,612			4,461,132			7.1	%
Deposits		1,280,353			1,222,907				4.7	%		1,212,907			1,246,817			1,230,917			1.3	%
Borrowings		3,500,753			2,992,232				17.0	%		3,006,251			3,254,867			2,937,135			10.8	%
Interest-bearing liabilities		4,781,106			4,215,139				13.4	%		4,219,158			4,501,684			4,168,052			8.0	%

2 of 5

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE:OFG)

	AS OF
	30-Jun-07			30-Jun-06			%			31-Mar-07			31-Dec-06
BALANCE SHEET
Cash and cash equivalents
Cash and due from banks	$	21,727		$	35,237			-38.3	%	$	14,286		$	15,341
Money market investments		48,480			5,722			747.3	%		50,127			18,729
Total Cash and cash equivalents		70,207			40,959			71.4	%		64,413			34,070
Interest-earning assets:
Investments:
Short term investments		21,200			30,000			-29.3	%		5,000			5,000
Trading securities		548			368			48.9	%		461			243
Investment securities available-for-sale, at fair value with amortized cost of $1,940,707 (December 31, 2006 - $984,060, June 30, 2006 - $1,245,907)		1,906,328			1,200,244			58.8	%		1,825,942			974,960
Investment securities held-to-maturity, at amortized cost with fair value of $1,714,608 (December 31, 2006 - $1,931,720, June 30, 2006 - $2,158,770)		1,764,585			2,243,219			-21.3	%		1,903,707			1,967,477
Other investments		31,770			—			100.0	%		31,578			30,949
Federal Home Loan Bank (FHLB) stock, at cost		13,908			18,269			-23.9	%		14,197			13,607
Total investments		3,738,339			3,492,100			7.1	%		3,780,885			2,992,236
Loans:
Mortgage loans		1,021,071			897,184			13.8	%		975,193			946,035
Commercial loans, mainly secured by real estate		232,164			228,008			1.8	%		236,739			241,702
Consumer loans		30,905			39,074			-20.9	%		33,419			35,772
Loans receivable, gross		1,284,140			1,164,266			10.3	%		1,245,351			1,223,509
Less: Deferred loan fees, net		(3,531	)		(2,827	)		24.9	%		(3,411	)		(3,123	)
Loans receivable		1,280,609			1,161,439			10.3	%		1,241,940			1,220,386
Allowance for loan losses		(8,432	)		(7,501	)		12.4	%		(8,046	)		(8,016	)
Total loans, net		1,272,177			1,153,938			10.2	%		1,233,894			1,212,370
Total interest-earning assets		5,010,516			4,646,038			7.8	%		5,014,779			4,204,606
Securities and loans sold but not yet delivered		46,461			710			6443.8	%		74,289			6,430
Accrued interest receivable		45,807			31,313			46.3	%		30,482			27,940
Premises and equipment, net		19,390			17,358			11.7	%		19,853			20,153
Deferred tax asset, net		18,005			14,861			21.2	%		13,562			14,150
Foreclosed real estate		4,971			4,379			13.5	%		5,320			4,864
Investment in equity indexed options		43,358			25,999			66.8	%		39,746			34,216
Investment in limited partnership		11,988			10,814			10.9	%		11,021			11,913
Deferred charges		944			2,814			-66.4	%		977			1,037
Prepaid expenses		3,504			2,763			26.8	%		1,858			2,152
Investment in Statutory Trusts		1,086			2,169			-49.9	%		1,086			1,086
Goodwill		2,006			2,006			0.0	%		2,006			2,006
Servicing asset		1,419			488			190.9	%		1,364			1,507
Accounts receivable and other assets		10,986			29,991			-63.4	%		11,297			7,560
Total assets	$	5,290,649		$	4,832,662			9.5	%	$	5,292,053		$	4,373,690
Interest-bearing liabilities:
Deposits:
Demand deposits		111,686			141,260			-20.9	%		124,610			132,434
Savings accounts		326,124			171,034			90.7	%		307,319			266,184
Certificates of deposit — wholesale		358,296			345,894			3.6	%		383,682			323,771
Certificates of deposit — retail		533,556			555,659			-4.0	%		521,974			510,599
Total deposits		1,329,662			1,213,847			9.5	%		1,337,585			1,232,988

3 of 5

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE:OFG)

	AS OF
	30-Jun-07			30-Jun-06			%			31-Mar-07			31-Dec-06
Borrowings:
Federal funds purchased and other short term borrowings		24,641			17,098			44.1	%		3,139			13,568
Securities sold under agreements to repurchase		3,283,796			2,856,361			15.0	%		3,321,105			2,535,923
Advances from FHLB		180,000			285,500			-37.0	%		195,000			181,900
Subordinated capital notes		36,083			72,166			-50.0	%		36,083			36,083
Term notes		—			15,000			-100.0	%		—			15,000
Total borrowings		3,524,520			3,246,125			8.6	%		3,555,327			2,782,474
Total interest-bearing liabilities		4,854,182			4,459,972			8.8	%		4,892,912			4,015,462
Securities and loans purchased but not yet received		100,067			6,539			1430.3	%		40,067			—
Accrued expenses and other liabilities		22,925			25,868			-11.4	%		20,752			21,802
Total liabilities		4,977,174			4,492,379			10.8	%		4,953,731			4,037,264
Preferred Equity		68,000			68,000			0.0	%		68,000			68,000
Common Equity:
Common stock		25,543			25,370			0.7	%		25,461			25,431
Additional paid-in capital		209,860			208,620			0.6	%		209,226			209,033
Legal surplus		38,312			37,114			3.2	%		37,424			36,245
Retained earnings		32,883			52,368			-37.2	%		31,956			26,772
Treasury stock, at cost		(13,311	)		(10,779	)		23.5	%		(12,848	)		(12,956	)
Accumulated other comprehensive loss		(47,812	)		(40,410	)		18.3	%		(20,897	)		(16,099	)
Total common equity		245,475			272,283			-9.8	%		270,322			268,426
Stockholders’ equity		313,475			340,283			-7.9	%		338,322			336,426
Total liabilities and stockholders’ equity	$	5,290,649		$	4,832,662			9.5	%	$	5,292,053		$	4,373,690
CAPITAL RATIOS
Leverage Capital ratio		7.23	%		9.39	%		-23.0	%		8.21	%		8.42	%
Minimum Leverage Capital Ratio Required		4.00	%		4.00	%		0.0	%		4.00	%		4.00	%
Actual Tier 1 Capital	$	381,489		$	435,973			-12.5	%	$	379,926		$	372,558
Minimum Tier 1 Capital Required	$	210,972		$	185,712			13.6	%	$	185,066		$	176,987
Tier 1 Risk-Based Capital ratio		19.32	%		29.60	%		-34.7	%		19.15	%		21.57	%
Minimum Tier 1 Risk-Based Capital Ratio Required		4.00	%		4.00	%		0.0	%		4.00	%		4.00	%
Actual Tier 1 Risk-Based Capital	$	381,489		$	435,973			-12.5	%	$	379,926		$	372,558
Minimum Tier 1 Risk-Based Capital Required	$	78,970		$	58,912			34.0	%	$	79,357		$	67,830
Total Risk-Based Capital ratio		19.75	%		30.11	%		-34.4	%		19.56	%		22.04	%
Minimum Total Risk-Based Capital Ratio Required		8.00	%		8.00	%		0.0	%		8.00	%		8.00	%
Actual Total Risk-Based Capital	$	389,921		$	443,474			-12.1	%	$	387,972		$	380,574
Minimum Total Risk-Based Capital Required	$	157,940		$	117,825			34.0	%	$	158,713		$	135,677
SELECTED FINANCIAL DATA AT PERIOD-END
Trust Assets Managed	$	1,881,043		$	1,933,912			-2.7	%	$	1,850,912		$	1,848,596
Broker-Dealer Assets Gathered		1,088,336			1,172,726			-7.2	%		1,101,542			1,143,668
Total Assets Managed		2,969,379			3,106,638			-4.4	%		2,952,454			2,992,264
Assets owned		5,290,649			4,832,662			9.5	%		5,292,053			4,373,690
Total financial assets managed and owned	$	8,260,029		$	7,939,300			4.0	%	$	8,244,507		$	7,365,954
Number of financial centers		24			24			0.0	%		25			25

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ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE:OFG)

	QUARTER ENDED												SIX-MONTH PERIOD ENDED
	30-Jun-07			30-Jun-06			%			31-Mar-07			30-Jun-07			30-Jun-06			%
Loan Production and Purchases Summary:
Mortgage loans production	$	35,368		$	70,844			-50.1	%	$	50,937		$	86,305		$	134,041			-35.6	%
Mortgage loans purchased		44,107			174,162			-74.7	%		4,572			48,679			181,817			-73.2	%
Total mortgage		79,475			245,006			-67.6	%		55,509			134,984			315,858			-57.3	%
Commercial		5,393			12,447			-56.7	%		15,139			20,532			27,993			-26.7	%
Consumer		1,501			4,780			-68.6	%		1,633			3,134			11,043			-71.6	%
Total loan production and purchases	$	86,369		$	262,233			-67.1	%	$	72,281		$	158,650		$	354,894			-55.3	%
CREDIT DATA
Net credit losses (recoveries):
Mortgage	$	480		$	178			169.7	%	$	546		$	1,026		$	377			172.1	%
Commercial		1			120			-99.2	%		(10	)		(8	)		137			-105.8	%
Consumer		508			308			64.9	%		509			1,016			663			53.2	%
Total net credit losses	$	989		$	606			63.2	%	$	1,045		$	2,034		$	1,177			72.8	%
Net credit losses to average loans outstanding		0.31	%		0.25	%		24.0	%		0.34	%		0.33	%		0.25	%		32.0	%
Allowance for loan losses										$	8,046		$	8,432		$	7,501			12.4	%
Allowance coverage ratios:
Allowance for loan losses to total loans											0.65	%		0.66	%		0.65	%		1.5	%
Allowance for loan losses to non-performing loans											18.34	%		17.40	%		25.55	%		-31.9	%
Allowance for loan losses to non-residential non-performing loans											212.86	%		217.30	%		213.52	%		1.8	%
Non-performing assets summary:
Mortgage										$	40,091		$	46,626		$	25,847			80.4	%
Commercial, mainly real estate											3,115			2,799			2,930			-4.5	%
Consumer											665			670			583			14.9	%
Non-performing loans											43,871			50,095			29,360			70.6	%
Foreclosed properties											5,320			4,971			4,379			13.5	%
Non-performing assets										$	49,191		$	55,066		$	33,739			63.2	%
Non-performing loans to total loans											3.53	%		3.91	%		2.53	%		54.6	%
Non-performing loans to total assets											0.83	%		0.95	%		0.61	%		55.7	%
Non-performing assets to total assets											0.93	%		1.04	%		0.70	%		48.6	%
Non-performing assets to total capital											14.54	%		17.63	%		9.91	%		77.9	%

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