OFG Bancorp (OFG) 8-K Departure of Directors or Principal Officers

Exhibit 17

Miguel A. Vázquez Deynes

October 17, 2007

Mr. José J. Gil de Lamadrid
Chairman Board of Directors
Oriental Financial Group
997 San Roberto Street, 10^th Floor
Professional Offices Park, S.E.
San Juan, PR 00926

Dear José:

I wish to present my immediate resignation from the Board of Directors of Oriental Financial Group, as per our conversation yesterday.

Personally, it was a pleasure to serve the Institution, and I thank you for having placed your trust in me.

Sincerely,

/s/ Miguel Vázquez Deynes