OFG Bancorp (OFG) 8-K Oriental Financial Group Third Quarter 2011 Results

Exhibit 99

Oriental Financial Group Third Quarter 2011 Results

SAN JUAN, Puerto Rico, October 25, 2011 – Oriental Financial Group Inc. (NYSE: OFG) today announced results for the third quarter ended September 30, 2011.

• Income per common share of $0.35 compared to a loss of $0.75 in the year ago quarter and income of $0.56 in the quarter ended June 30, 2011

• Book value per share of $14.96 increased 8.5% from a year ago and 0.3% from June 30, 2011

• Common shares outstanding at quarter end of 44.0 million were reduced 5.0% from a year ago due to stock repurchases

3Q11 Highlights

• Continued growth of commercial lending business and of lower-cost retail deposits

• Continued increase in fee income from wealth management business

• Improvement in expected cash flows on the former Eurobank portfolio, resulting in higher interest income and a recapture of the loan loss provision

• Higher premium amortization on mortgage backed securities due to an increase in pre-payments

• Gain on sale of securities and deleveraging of a repurchase agreement

• Continued reduction of wholesale funding balances

• Good execution of cost control strategy

CEO Comment

“We are delivering on our strategies, growing our franchise value and returning capital to investors,” said José Rafael Fernández, President, Chief Executive Officer and Vice Chairman of the Board. “Taking advantage of local market conditions, we are expanding quality credit and deposit relationships, and building our reputation as a solid commercial lender.

“In addition, we are selectively deleveraging our investment securities portfolio and generating more interest income from loans. In that regard, last year’s Eurobank acquisition is becoming even more accretive. The better than anticipated credit performance resulted in increased interest income on covered loans during the third quarter. This is expected to positively benefit upcoming quarters as well.”

3Q11 Income Statement Analysis

• Interest income from covered loans (the former Eurobank loans) of $18.2 million increased $1.6 million or 9.5% year over year and $5.2 million or 39.5% from the second quarter. Due to effective servicing and collection, actual cash flows have exceeded original estimates by approximately $20 million since the April 30, 2010 acquisition. As a result, there was a $1.9 million net recapture of the loss provision on these loans and a $2.4 million reduction of the FDIC indemnification asset, compared to accretion of $1.0 million in the second quarter.

• Interest income from non-covered loans of $17.3 million increased 8.3% from the second quarter, which included a $1.8 million negative adjustment. Excluding this adjustment, interest income from non-covered loans remained approximately level as increased income from commercial loans offset a decline in interest income from residential mortgages.

• Interest income from investment securities of $36.2 million declined 22.9% year over year and 32.0% from the quarter ended June 30, 2011. This primarily reflected: (i) increased premium amortization in the third quarter of 2011 due to the decline in interest rates which caused an increase in pre-payments, versus a decrease in pre-payments and premium amortization in the second quarter of 2011, and (ii) lower balance in the investment securities portfolio.

• Interest expense of $39.2 million declined 8.9% year over year and 0.7% from the quarter ended June 30, 2011, reflecting higher retail balances at a lower cost and lower balances of wholesale funding. On August 16, 2011, Oriental extinguished a 4.47% $100 million repurchase agreement; this will reduce interest expense going forward.

• Total banking and wealth management revenues of $11.3 million increased 9.3% from the quarter ended June 30, 2011. Wealth management revenues grew 17.8% from the quarter ended June 30, 2011 due to increased brokerage and trust business. Mortgage banking activities were up 7.7% from the quarter ended June 30, 2011 as a result of favorable pricing on loans sold into the secondary market.

• Non-core, non-interest income of $5.9 million compared to a loss of $21.9 million in the year ago quarter and income of $6.5 million in the second quarter. The third quarter of 2011 primarily reflected: (i) gain of close to $14.0 million on the sale of approximately $205 million in investment securities, (ii) $4.8 million loss on early extinguishment of the aforementioned repurchase agreement, and (iii) $2.4 million amortization of the FDIC loss-share indemnification asset.

• Non-interest expenses of $30.4 million declined 7.0% year over year and 0.9% quarter over quarter.

September 30, 2011 Balance Sheet Analysis

• Total investment securities of $4.1 billion declined 5.8% from a year ago and 8.5% from June 30, 2011, primarily reflecting the aforementioned deleveraging and reduced purchases of new investments, which resulted in Oriental increasing its cash position by 84.1%, to $517.3 million, from June 30, 2011. Approximately 97% of Oriental’s investment portfolio consists of agency mortgage-backed securities guaranteed or issued by FNMA, FHLMC or GNMA.

• Total non-covered loans of approximately $1.2 billion increased 1.8% from a year ago and declined 0.5% from June 30, 2011 as growth of commercial loans and leases offset the reduction in residential mortgage loans. Covered loans of $524.5 million declined from a year ago and from June 30, 2011 as they continue to pay-down.

• Loan production for the quarter totaled $94.1 million, with residential mortgage volume of $52.7 million, commercial of $30.0 million, and leasing and consumer of $11.3 million combined. Year to date, total loan production of $288.7 million is up 6.6%, with commercial production up 38.5%.

• Retail deposits of $2.0 billion increased 3.9% from a year ago and 0.2% from June 30, 2011, while cost of deposits dropped to 1.82%. Interest-bearing savings and demand deposits increased 10.5% from a year ago and 4.6% from June 30, 2011, more than offsetting the decrease in certificates of deposit.

• Stockholders’ equity of $726.6 million was up 2.8% from a year ago and 0.3% from June 30, 2011. The sequential improvement primarily reflects increased retained earnings and decreased Other Comprehensive Income, net of a decrease in mark to market of forward settled swaps.

Other Highlights

• Credit Quality: The allowance of $35.9 million increased 4.8%, equal to 3.00% of total non-covered loans and leases versus 2.85% at June 30, 2011. Net credit losses of $2.2 million were down 12.2% year over year and 5.9% from the quarter ended June 30, 2011. Non-performing loans increased $2.7 million from June 30, 2011.

• Stock Repurchases: As part of its authorization to repurchase $70 million in shares of its common stock in the open market, Oriental has bought approximately 894,000 shares, at an average price of $10.24 per share, just before the end of the third quarter and subsequent to the quarter-end. All of these purchases will reduce the fourth quarter share count as they settle after September 30, 2011.

• Capital: Oriental maintains regulatory capital ratios well above the requirements for a well-capitalized institution. At September 30, 2011, the Leverage Capital Ratio was 10.12%, Tier-1 Risk-Based Capital Ratio was 31.41%, and Total Risk-Based Capital Ratio was 32.69%.

Conference Call

A conference call to discuss Oriental’s results, outlook and related matters will be held Tuesday, October 25, 2011, at 10:00 AM Eastern Time. The call will be accessible live via a webcast on Oriental’s Investor Relations website atwww.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 atwww.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 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												NINE-MONTH PERIOD ENDED
SUMMARY OF OPERATIONS(Dollars in thousands):	30-Sep-11			30-Sep-10			%			30-Jun-11			30-Sep-11			30-Sep-10			%
Interest Income:
Loans
Loans not covered under shared-loss agreements with the FDIC	$	17,287		$	17,700			-2.3	%	$	15,969		$	51,095		$	53,150			-3.9	%
Loans covered under shared-loss agreements with the FDIC		18,222			16,647			9.5	%		13,060			45,507			28,232			61.2	%
Mortgage-backed securities		33,515			40,429			-17.1	%		51,021			128,275			125,542			2.2	%
Investment securities		2,366			6,367			-62.8	%		1,882			6,103			24,213			-74.8	%
Short term investments		272			78			248.7	%		270			792			263			201.1	%
Total interest income		71,662			81,221			-11.8	%		82,202			231,772			231,400			0.2	%
Interest Expense:
Deposits		11,558			12,680			-8.8	%		11,588			35,360			35,874			-1.4	%
Securities sold under agreements to repurchase		23,206			25,128			-7.6	%		23,512			70,878			75,900			-6.6	%
Advances from FHLB and other borrowings		3,121			3,082			1.3	%		3,061			9,231			9,147			0.9	%
FDIC-guaranteed term notes		1,021			1,021			0.0	%		1,021			3,063			3,063			0.0	%
Note payable to the FDIC		—			823			-100.0	%		—			—			1,887			-100.0	%
Subordinated capital notes		305			327			-6.7	%		308			916			930			-1.5	%
Total interest expense		39,211			43,061			-8.9	%		39,490			119,448			126,801			-5.8	%
Net interest income		32,451			38,160			-15.0	%		42,712			112,324			104,599			7.4	%
Provision for non-covered loan and lease losses		3,800			4,100			-7.3	%		3,800			11,400			12,214			-6.7	%
Recapture of covered loan and lease losses, net		(1,936	)		—			-100.0	%		—			(1,387	)		—			-100.0	%
Net interest income after provision for loan and lease losses		30,587			34,060			-10.2	%		38,912			102,311			92,385			10.7	%
Non-Interest Income (Loss):
Wealth management revenues		5,387			4,613			16.8	%		4,572			14,641			13,250			10.5	%
Banking service revenues		3,261			3,442			-5.3	%		3,306			10,404			8,105			28.4	%
Mortgage banking activities		2,623			3,418			-23.3	%		2,435			7,017			7,555			-7.1	%
Total banking and wealth management revenues		11,271			11,473			-1.8	%		10,313			32,062			28,910			10.9	%
Total loss on other-than-temporarily impaired securities		—			(14,739	)		100.0	%		—			—			(39,674	)		100.0	%
Portion of loss on securities recognized in other comprehensive income		—			—			0.0	%		—			—			22,508			-100.0	%
Other-than-temporary impairments on securities		—			(14,739	)		100.0	%		—			—			(17,166	)		100.0	%
Accretion (amortization) of FDIC loss-share indemnification asset		(2,422	)		1,600			-251.4	%		1,020			(191	)		2,914			-106.6	%
Fair value adjustment on FDIC equity appreciation instrument		—			—			0.0	%		—			—			909			-100.0	%
Net gain (loss) on:
Sales of securities		13,971			13,954			0.1	%		9,132			23,102			37,807			-38.9	%
Derivative activities		(564	)		(22,580	)		97.5	%		(3,603	)		(8,135	)		(59,832	)		86.4	%
Trading securities		14			4			250.0	%		(6	)		(23	)		2			-1250.0	%
Foreclosed real estate		(199	)		(140	)		-42.1	%		(3	)		(334	)		(283	)		-18.0	%
Early extinguishment of repurchase agreement		(4,790	)		—			-100.0	%		—			(4,790	)		—			-100.0	%
Other		(93	)		(35	)		-165.7	%		7			(113	)		(18	)		-527.8	%
Total non-interest income (loss), net		17,188			(10,463	)		264.3	%		16,860			41,578			(6,757	)		715.3	%
Non-Interest Expenses:
Compensation and employee benefits		11,593			11,686			-0.8	%		11,230			34,511			30,369			13.6	%
Professional and service fees		5,305			5,480			-3.2	%		5,750			16,506			11,552			42.9	%
Occupancy and equipment		4,369			5,486			-20.4	%		4,214			12,988			13,484			-3.7	%
Insurance		1,302			1,651			-21.1	%		1,646			4,933			5,218			-5.5	%
Electronic banking charges		1,375			1,322			4.0	%		1,155			3,984			3,112			28.0	%
Taxes, other than payroll and income taxes		1,184			1,641			-27.8	%		858			3,422			3,759			-9.0	%
Advertising, business promotion, and strategic initiatives		1,686			1,275			32.2	%		1,508			4,386			3,339			31.4	%
Loan servicing and clearing expenses		975			1,022			-4.6	%		1,076			3,072			2,538			21.0	%
Foreclosure and repossession expenses		813			694			17.1	%		761			2,303			1,520			51.5	%
Communication		391			826			-52.7	%		425			1,212			1,905			-36.4	%
Directors and investor relations		352			396			-11.1	%		339			977			1,098			-11.0	%
Printing, postage, stationery and supplies		292			299			-2.3	%		362			937			795			17.9	%
Other		770			927			-16.9	%		1,372			2,661			2,261			17.7	%
Total non-interest expenses		30,407			32,705			-7.0	%		30,696			91,892			80,950			13.5	%
Income (loss) before income taxes		17,368			(9,108	)		290.7	%		25,076			51,997			4,678			1011.5	%
Income tax expense (benefit)		580			(1,287	)		145.1	%		(1,391	)		5,661			(82	)		7003.7	%
Net income (loss)		16,788			(7,821	)		314.7	%		26,467			46,336			4,760			873.4	%
Less: Dividends on preferred stock		(1,201	)		(1,200	)		-0.1	%		(1,200	)		(3,602	)		(4,134	)		12.9	%
Less: Deemed dividend on preferred stock beneficial conversion feature		—			(22,711	)		100.0	%		—			—			(22,711	)		100.0	%
Income available (loss) to common shareholders	$	15,587		$	(31,732	)		149.1	%	$	25,267		$	42,734		$	(22,085	)		293.5	%

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ORIENTAL FINANCIAL GROUP

Financial Summary

(NYSE: OFG)

	QUARTER ENDED												NINE-MONTH PERIOD ENDED
(Dollars in thousands, except per share data)	30-Sep-11			30-Sep-10			%			30-Jun-11			30-Sep-11			30-Sep-10			%
PRE-TAX OPERATING INCOME
Net interest income	$	32,451		$	38,160			-15.0	%	$	42,712		$	112,324		$	104,599			7.4	%
Less: Provision for non-covered loan and lease losses		(3,800	)		(4,100	)		7.3	%		(3,800	)		(11,400	)		(12,214	)		6.7	%
Plus: Recapture of covered loan and lease losses, net		1,936			—			100.0	%		—			1,387			—			100.0	%
Core non-interest income:
Wealth management revenues		5,387			4,613			16.8	%		4,572			14,641			13,250			10.5	%
Banking service revenues		3,261			3,442			-5.3	%		3,306			10,404			8,105			28.4	%
Mortgage banking activities		2,623			3,418			-23.3	%		2,435			7,017			7,555			-7.1	%
Total core non-interest income		11,271			11,473			-1.8	%		10,313			32,062			28,910			10.9	%
Less: Non interest expenses		(30,407	)		(32,705	)		7.0	%		(30,696	)		(91,892	)		(80,950	)		-13.5	%
Total Pre-tax operating income	$	11,451		$	12,828			-10.7	%	$	18,529		$	42,481		$	40,345			5.3	%
INCOME (LOSS) PER COMMON SHARE
Basic	$	0.35		$	(0.75	)		147.1	%	$	0.56		$	0.95		$	(0.66	)		244.1	%
Diluted	$	0.35		$	(0.75	)		147.1	%	$	0.56		$	0.95		$	(0.66	)		244.2	%
COMMON STOCK DATA
Average common shares outstanding and equivalents		44,105			42,288			4.3	%		45,135			45,141			33,645			34.2	%
Cash dividends per share of common stock	$	0.05		$	0.04			24.9	%	$	0.05		$	0.15		$	0.12			26.4	%
Cash dividends declared on common shares	$	2,202		$	1,855			18.7	%	$	2,206		$	6,677		$	4,499		��	48.4	%
Pay-out ratio		14.16	%		-5.34	%		365.3	%		8.95	%		16.02	%		-18.28	%		187.7	%
SELECTED FINANCIAL DATA
PERFORMANCE RATIOS:
Return on average assets		0.95	%		-0.39	%		340.6	%		1.48	%		0.86	%		0.09	%		877.9	%
Return on average common equity		9.41	%		-20.32	%		146.3	%		15.37	%		8.65	%		-6.55	%		231.9	%
Equity-to-assets ratio		10.35	%		9.56	%		8.2	%		10.23	%		10.35	%		9.56	%		8.2	%
Efficiency ratio		69.55	%		65.89	%		5.5	%		57.89	%		63.64	%		60.63	%		5.0	%
Expense ratio		1.19	%		1.20	%		-0.2	%		1.26	%		1.23	%		1.04	%		18.0	%
TAX EQUIVALENT SPREAD
Interest-earning assets		4.47	%		4.57	%		-2.2	%		5.07	%		4.75	%		4.62	%		2.8	%
Tax equivalent adjustment		0.54	%		1.48	%		-63.5	%		0.70	%		0.53	%		1.51	%		-64.9	%
Interest-earning assets—tax equivalent		5.01	%		6.05	%		-17.2	%		5.77	%		5.28	%		6.13	%		-13.9	%
Interest-bearing liabilities		2.50	%		2.42	%		3.5	%		2.48	%		2.50	%		2.58	%		-3.1	%
Tax equivalent interest rate spread		2.50	%		3.63	%		-31.0	%		3.29	%		2.78	%		3.55	%		-21.7	%
Tax equivalent interest rate margin		2.57	%		3.63	%		-29.2	%		3.33	%		2.84	%		3.60	%		-21.1	%
NORMAL SPREAD
Investments		3.08	%		3.61	%		-14.8	%		4.49	%		3.79	%		3.92	%		-3.3	%
Loans
Loans not covered under shared-loss agreements with the FDIC		5.84	%		6.11	%		-4.4	%		5.42	%		5.78	%		6.14	%		-5.9	%
Loans covered under shared-loss agreements with the FDIC		13.73	%		8.94	%		53.6	%		9.12	%		10.61	%		8.86	%		19.8	%
		8.28	%		7.22	%		14.7	%		6.63	%		7.36	%		6.87	%		7.1	%
Interest-earning assets		4.47	%		4.57	%		-2.2	%		5.07	%		4.75	%		4.62	%		2.8	%
Deposits
Retail deposits		1.82	%		2.13	%		-14.46	%		1.83	%		1.88	%		2.27	%		-17.18	%
Wholesale deposits		2.49	%		1.74	%		43.31	%		2.17	%		2.06	%		1.92	%		7.29	%
		1.94	%		2.03	%		-4.41	%		1.89	%		1.91	%		2.19	%		-12.79	%
Borrowings
Securities sold under agreements to repurchase		2.72	%		2.84	%		-4.2	%		2.72	%		2.74	%		2.84	%		-3.5	%
Advances from FHLB and other borrowings		3.80	%		3.82	%		-0.4	%		3.84	%		3.83	%		3.75	%		2.1	%
FDIC-guaranteed term notes		3.85	%		3.86	%		-0.2	%		3.88	%		3.86	%		3.86	%		0.0	%
Purchase money note issued to the FDIC		—			0.54	%		—			—			—			0.73	%		—
Subordinated capital notes		3.38	%		3.62	%		-6.6	%		3.41	%		3.38	%		3.44	%		-1.7	%
		2.85	%		2.63	%		8.4	%		2.85	%		2.87	%		2.77	%		3.6	%
Interest-bearing liabilities		2.50	%		2.42	%		3.5	%		2.48	%		2.50	%		2.58	%		-3.1	%
Interest rate spread		1.96	%		2.15	%		-8.7	%		2.59	%		2.25	%		2.04	%		10.3	%
Interest rate margin		2.02	%		2.15	%		-5.9	%		2.63	%		2.30	%		2.09	%		10.0	%
AVERAGE BALANCES
Investments	$	4,700,992		$	5,200,503			-9.6	%	$	4,739,972		$	4,753,883		$	5,096,885			-6.7	%
Loans		1,715,035			1,903,757			-9.9	%		1,751,258			1,750,153			1,578,893			10.8	%
Interest-earning assets	$	6,416,027		$	7,104,260			-9.7	%	$	6,491,230		$	6,504,036		$	6,675,778			-2.6	%
Deposits	$	2,382,490		$	2,494,041			-4.5	%	$	2,446,639		$	2,462,834		$	2,183,925			12.8	%
Borrowings		3,881,440			4,621,992			-16.0	%		3,922,518			3,908,678			4,378,996			-10.7	%
Interest-bearing liabilities	$	6,263,931		$	7,116,034			-12.0	%	$	6,369,157		$	6,371,512		$	6,562,922			-2.9	%

2 of 6

ORIENTAL FINANCIAL GROUP

Financial Summary

(NYSE: OFG)

	AS OF
(Dollars in thousands)	30-Sep-11			30-Sep-10			%			30-Jun-11			31-Dec-10
BALANCE SHEET
Cash and cash equivalents	$	517,336		$	142,936			261.9	%	$	280,938		$	448,936
Securities purchased under agreements to resell		165,000			—			100.0	%		—			—
Investments:
Trading securities		346			102			239.2	%		864			1,330
Investment securities available-for-sale, at fair value, with amortized cost of $3,154,057 (September 30, 2010 - $4,304,055, June 30, 2011 - $3,529,675, December 31, 2010 - $3,661,146)
FNMA and FHLMC certificates		2,834,979			3,509,125			-19.2	%		3,106,006			3,282,190
Obligations of US Government sponsored agencies		—			301,550			-100.0	%		—			3,000
Non-agency collateralized mortgage obligations		—			63,246			-100.0	%		—			—
CMO's issued by US Government sponsored agencies		232,130			194,428			19.4	%		246,663			177,804
GNMA certificates		31,367			137,890			-77.3	%		98,892			127,714
Structured credit investments		40,976			42,443			-3.5	%		45,713			41,693
Obligations of Puerto Rico Government and political subdivisions		81,354			68,406			18.9	%		77,703			67,663
Other debt securities		6,166			—			100.0	%		6,110			—
Total investment securities available-for-sale		3,226,972			4,317,088			-25.3	%		3,581,087			3,700,064
FNMA and FHLMC certificates held-to-maturity, at amortized cost, with fair value of $854,633 (June 30, 2011 - $858,226, December 31, 2010 - $675,721)		837,920			—			100.0	%		863,779			689,917
Federal Home Loan Bank (FHLB) stock, at cost		23,779			22,496			5.7	%		23,779			22,496
Other investments		75			150			-50.0	%		150			150
Total investments		4,089,092			4,339,836			-5.8	%		4,469,659			4,413,957
Securities sold but not yet delivered		—			317,209			-100.0	%		—			—
Loans:
Loans not covered under shared-loss agreements with the FDIC:
Mortgage		837,164			887,251			-5.6	%		849,843			872,482
Commercial		270,633			217,280			24.6	%		264,962			234,992
Leasing		21,283			5,926			259.1	%		17,104			10,257
Consumer		37,241			30,796			20.9	%		37,560			35,942
Total loans receivable not covered under shared-loss agreements with the FDIC, gross		1,166,321			1,141,253			2.2	%		1,169,469			1,153,673
Less: Deferred loan fees, net		(4,683	)		(4,236	)		-10.6	%		(4,780	)		(4,354	)
Total loans receivable not covered under shared-loss agreements with the FDIC		1,161,638			1,137,017			2.2	%		1,164,689			1,149,319
Allowance for loan and lease losses on non-covered loans		(35,869	)		(29,640	)		-21.0	%		(34,229	)		(31,430	)
Loans receivable, net		1,125,769			1,107,377			1.7	%		1,130,460			1,117,889
Mortgage loans held for sale		33,619			31,432			7.0	%		34,246			33,979
Total loans not covered under shared-loss agreements with the FDIC, net		1,159,388			1,138,809			1.8	%		1,164,706			1,151,868
Loans covered under shared-loss agreements with the FDIC:
Loans secured by 1-4 family residential properties		143,861			174,355			-17.5	%		147,071			166,865
Construction and development secured by 1-4 family residential properties		16,044			18,165			-11.7	%		16,309			17,253
Commercial and other construction		341,388			411,167			-17.0	%		360,536			388,240
Leasing		45,598			95,207			-52.1	%		55,863			79,093
Consumer		14,839			19,683			-24.6	%		15,800			18,546
Loans covered under shared-loss agreements with the FDIC		561,730			718,577			-21.8	%		595,579			669,997
Allowance for loan and lease losses on covered loans		(37,240	)		—			-100.0	%		(53,036	)		(49,286	)
Loans covered under shared-loss agreements with the FDIC, net		524,490			718,577			-27.0	%		542,543			620,711
Total loans, net		1,683,878			1,857,386			-9.3	%		1,707,249			1,772,579
FDIC shared-loss indemnification asset		392,096			548,554			-28.5	%		440,633			473,629
Foreclosed real estate covered under shared-loss agreements with the FDIC		16,319			15,290			6.7	%		16,918			14,871
Foreclosed real estate not covered under shared-loss agreements with the FDIC		14,675			13,765			6.6	%		12,031			11,969
Other repossessed assets covered under shared-loss agreements with the FDIC		1,824			2,748			-33.6	%		1,893			2,350
Core deposit intangible		1,221			1,363			-10.4	%		1,257			1,328
Accrued interest receivable		24,246			30,644			-20.9	%		26,430			28,716
Deferred tax asset, net		31,798			35,965			-11.6	%		32,637			30,732
Prepaid FDIC Insurance		12,882			18,235			-29.4	%		13,851			16,796
Premises and equipment, net		22,498			17,125			31.4	%		23,649			23,941
Other prepaid expenses		10,477			8,997			16.4	%		11,572			7,858
Servicing asset		10,014			9,647			3.8	%		9,840			9,695
Tax credits		2,605			3,432			-24.1	%		2,604			3,432
Debt issuance costs		1,375			2,607			-47.3	%		1,683			2,299
Goodwill		2,701			2,701			0.0	%		2,701			2,701
Investment in statutory trust		1,086			1,086			0.0	%		1,086			1,086
Derivative assets		6,707			7,106			-5.6	%		12,015			28,315
Accounts receivable and other assets		14,154			13,136			7.7	%		13,810			15,816
Total assets	$	7,021,984		$	7,389,768			-5.0	%	$	7,082,456		$	7,311,006

3 of 6

ORIENTAL FINANCIAL GROUP

Financial Summary

(NYSE: OFG)

	AS OF
(Dollars in thousands)	30-Sep-11			30-Sep-10			%			30-Jun-11			31-Dec-10
Deposits:
Non-interest bearing demand deposits	$	181,711		$	168,590			7.8	%	$	182,658		$	170,705
Interest-bearing savings and demand deposits		1,054,226			953,921			10.5	%		1,007,659			1,019,539
Individual retirement accounts		356,952			354,432			0.7	%		356,764			361,972
Retail certificates of deposit		395,902			436,706			-9.3	%		438,532			477,180
Total Retail Deposits		1,988,791			1,913,649			3.9	%		1,985,613			2,029,396
Institutional deposits		184,022			402,074			-54.2	%		211,032			280,617
Brokered Deposits		205,552			279,552			-26.5	%		188,586			278,875
Total deposits		2,378,365			2,595,275			-8.4	%		2,385,231			2,588,888
Borrowings:
Short-term borrowings		46,619			30,298			53.9	%		31,721			42,460
Securities sold under agreements to repurchase		3,356,322			3,541,520			-5.2	%		3,459,135			3,456,781
Advances from FHLB		281,753			281,753			0.0	%		281,747			281,753
FDIC-guaranteed term notes		105,112			105,112			0.0	%		105,834			105,834
Subordinated capital notes		36,083			36,083			0.0	%		36,083			36,083
Total borrowings		3,825,889			3,994,766			-4.2	%		3,914,520			3,922,911
Total interest-bearing liabilities		6,204,254			6,590,041			-5.9	%		6,299,751			6,511,799
FDIC net settlement payable		41			32,516			-99.9	%		602			22,954
Derivative liabilities		48,146			8,289			480.8	%		13,918			64
Accrued expenses and other liabilities		42,932			52,385			-18.0	%		43,828			43,858
Total liabilities		6,295,373			6,683,231			-5.8	%		6,358,099			6,578,675
Preferred stock		68,000			68,000			0.0	%		68,000			68,000
Common stock		47,808			47,808			0.0	%		47,808			47,808
Additional paid-in capital		498,875			498,486			0.1	%		498,556			498,435
Legal surplus		51,274			45,906			11.7	%		49,410			46,331
Retained earnings		82,616			50,374			64.0	%		71,095			51,502
Treasury stock, at cost		(45,376	)		(17,116	)		-165.1	%		(45,386	)		(16,732	)
Accumulated other comprehensive income, net		23,414			13,079			79.0	%		34,874			36,987
Total stockholders’ equity		726,611			706,537			2.8	%		724,357			732,331
Total liabilities and stockholders’ equity	$	7,021,984		$	7,389,768			-5.0	%	$	7,082,456		$	7,311,006
SELECTED FINANCIAL DATA AT PERIOD-END
Common shares outstanding at end of period		44,015			46,317			-5.0	%		44,009			46,349
Book value per common share	$	14.96		$	13.79			8.5	%	$	14.91		$	14.33
Tangible book value per common share	$	14.87		$	13.70			8.6	%	$	14.82		$	14.25
Trust assets managed	$	2,193,425		$	2,120,833			3.4	%	$	2,266,770		$	2,175,270
Broker-dealer assets gathered		1,791,408			1,425,445			25.7	%		1,859,580			1,695,634
Total assets managed	$	3,984,833		$	3,546,278			12.4	%	$	4,126,350		$	3,870,904	��

4 of 6

ORIENTAL FINANCIAL GROUP

Financial Summary

(NYSE: OFG)

	AS OF
	30-Sep-11			30-Sep-10			%			30-Jun-11			31-Dec-10
CAPITAL DATA
Leverage capital ratio		10.12	%		8.90	%		13.7	%		9.74	%		9.50	%
Leverage capital ratio required		4.00	%		4.00	%					4.00	%		4.00	%
Actual tier 1 capital	$	705,939		$	692,336			2.0	%	$	690,123		$	699,415
Tier 1 capital required	$	279,070		$	311,174			-10.3	%	$	283,488		$	294,472
Excess over regulatory requirement	$	426,869		$	381,162			12.0	%	$	406,635		$	404,943
Tier 1 risk-based capital ratio		31.41	%		27.50	%		14.2	%		30.32	%		31.04	%
Tier 1 risk-based capital ratio required		4.00	%		4.00	%					4.00	%		4.00	%
Actual tier 1 risk-based capital	$	705,939		$	692,336			2.0	%	$	690,123		$	699,415
Tier 1 risk-based capital required	$	89,895		$	100,713			-10.7	%	$	91,056		$	90,139
Excess over regulatory requirement	$	616,044		$	591,623			4.1	%	$	599,067		$	609,276
Risk-weighted assets	$	2,247,383		$	2,517,817			-10.7	%	$	2,276,398		$	2,253,487
Total risk-based capital ratio		32.69	%		28.70	%		13.9	%		31.60	%		32.32	%
Total risk-based capital ratio required		8.00	%		8.00	%					8.00	%		8.00	%
Actual total risk-based capital	$	734,594		$	722,529			1.7	%	$	719,325		$	728,241
Total risk-based capital required	$	179,791		$	201,425			-10.7	%	$	182,112		$	180,279
Excess over regulatory requirement	$	554,803		$	521,104			6.5	%	$	537,213		$	547,962
Risk-weighted assets	$	2,247,383		$	2,517,817			-10.7	%	$	2,276,398		$	2,253,487
Tangible common equity to total assets		9.32	%		8.59	%		8.5	%		9.21	%		9.03	%
Tangible common equity to total risk-weighted assets		29.13	%		25.20	%		15.6	%		28.66	%		29.30	%
Total equity to total assets		10.35	%		9.56	%		8.2	%		10.23	%		10.02	%
Total equity to risk-weighted assets		32.33	%		28.06	%		15.2	%		31.82	%		32.50	%
Tier 1 common equity to risk-weighted assets		28.39	%		24.80	%		14.5	%		27.33	%		28.02	%
Tier 1 common equity	$	637,939		$	624,336			2.2	%	$	622,123		$	631,415

5 of 6

ORIENTAL FINANCIAL GROUP

Financial Summary

(NYSE: OFG)

	QUARTER ENDED												NINE-MONTH PERIOD ENDED
(Dollars in thousands)	30-Sep-11			30-Sep-10			%			30-Jun-11			30-Sep-11			30-Sep-10			%
Loan Production and Purchases Summary:
Mortgage loans production	$	52,699		$	58,958			-10.6	%	$	56,940		$	157,805		$	169,692			-7.0	%
Mortgage loans purchased		—			9,933			-100.0	%		2,754			7,395			18,800			-60.7	%
Total mortgage		52,699			68,891			-23.5	%		59,694			165,200			188,492			-12.4	%
Commercial		30,037			26,354			14.0	%		45,638			92,319			66,662			38.5	%
Leasing		5,582			4,597			21.4	%		5,669			16,123			6,391			152.3	%
Consumer		5,734			3,514			63.2	%		5,666			15,040			9,255			62.5	%
Total loan production and purchases	$	94,052		$	103,356			-9.0	%	$	116,667		$	288,682		$	270,800			6.6	%
CREDIT DATA
Net credit losses, excluding loans covered under shared-loss agreements with the FDIC:
Mortgage	$	1,391		$	432			222.0	%	$	1,268		$	4,435		$	2,795			58.7	%
Commercial		385			1,710			-77.5	%		713			1,370			2,188			-37.4	%
Consumer		305			320			-4.7	%		286			986			862			14.4	%
Leasing		80			—			100.0	%		30			170			—			100.0	%
Total net credit losses	$	2,161		$	2,462			-12.2	%	$	2,297		$	6,961		$	5,845			19.1	%
Net credit losses to average loans outstanding		0.73	%		0.85	%		-13.9	%		0.78	%		0.79	%		0.67	%		16.9	%

	AS OF
	30-Sep-11			30-Sep-10			%			30-Jun-11			31-Dec-10
Allowance for loan and lease losses on non-covered loans	$	35,869		$	29,640			21.0	%	$	34,229		$	31,430
Allowance coverage ratios:
Allowance for loan and lease losses to total loans (excluding loans covered under shared-loss agreements with the FDIC)		3.00	%		2.54	%		18.3	%		2.85	%		2.66	%
Allowance for loan and lease losses to non-performing loans		27.08	%		26.76	%		1.2	%		26.38	%		25.59	%
Non-performing assets summary (excluding assets covered under shared-loss agreements with the FDIC):
Mortgage	$	94,187		$	96,286			-2.2	%	$	93,792		$	98,389
Commercial		37,471			13,862			170.3	%		35,061			23,619
Consumer		667			602			10.8	%		765			761
Leasing		119			—			100.0	%		130			35
Non-performing loans		132,444			110,750			19.6	%		129,748			122,804
Foreclosed properties		14,675			13,765			6.6	%		12,031			11,969
Non-performing assets	$	147,119		$	124,515			18.2	%	$	141,779		$	134,773
Non-performing loans to:
Total loans, excluding covered loans		11.40	%		9.74	%		17.0	%		11.14	%		10.68	%
Total assets, excluding covered assets		2.06	%		1.66	%		24.1	%		2.01	%		1.85	%
Total capital		18.23	%		15.68	%		16.3	%		17.91	%		16.77	%
Non-performing assets to total assets, excluding covered assets		2.28	%		1.87	%		21.9	%		2.19	%		2.03	%
Non-performing assets to total capital		20.25	%		17.62	%		14.9	%		19.57	%		18.40	%

6 of 6