Exhibit 99

		Puerto Rico Contact: Marilyn Santiago-Colón, Oriental Financial Group Inc. (787) 993-4648 U.S. Contact: Steven Anreder and Gary Fishman, Anreder & Company (212) 532-3232

ORIENTAL FINANCIAL GROUP REPORTS FOURTH QUARTER 2010 RESULTS

SAN JUAN, Puerto Rico, February 3, 2011 — Oriental Financial Group Inc. (NYSE: OFG) announced results for the quarter ended December 31, 2010.

“Our core Oriental Bank and Trust and Oriental Financial Services banking and financial services operations performed well as we continued to benefit from increased volume in our commercial and retail businesses,” said José Rafael Fernández, Vice Chairman of the Board, President and Chief Executive Officer.

“This was due to our larger and more strategically located network of 30 branches and our expanded commercial lending team, as well as a somewhat more rational market environment in Puerto Rico. We expect to continue to make strong progress in 2011 in line with our strategy of generating a greater proportion of income from lending and wealth management activities.”

4Q10 Financial Summary

•		Income available to common shareholders of $3.9 million, or $0.08 per share, for the quarter ended December 31, 2010, compared to a loss of $75.3 million, or ($3.09) per diluted share, in the year ago quarter and a loss of $31.7 million, or ($0.70) per share in the quarter ended September 30, 2010.
•		Book value per share increased to $14.33, up 32.5% from $10.82 a year ago and 3.9% from $13.79 at September 30, 2010.
•		Total stockholders’ equity reached $732.3 million at December 31, 2010, an increase of 122.0% from a year ago and 3.7% from September 30, 2010.
•		Tangible common equity to total assets increased to 9.04% from 3.97% at December 31, 2009 and 8.72% at September 30, 2010.

4Q10 Key Factors

•		Strong performance in core banking operations, including increases in interest income from loans not covered under the shared-loss agreements with the FDIC, commercial loan and lease production and balances, retail and commercial deposits, and non-interest revenue, as well as reductions in the cost of deposits and the provision for loan and lease losses not covered under the shared-loss agreements with the FDIC.
•		Strong performance in core wealth management operations, including greater non-interest revenues, and increases in trust assets and customer assets with the broker-dealer.
•		Decline of $7.3 million in interest income from mortgage-backed securities primarily due to higher premium amortization, reflecting increases in pre-payments as well as a lower average yield on recently purchased securities. With the recent rise in interest rates, pre-payment speeds are showing signs of leveling off.

•		Net credit impairment of $6.3 million attributable to various pools of loans covered under the shared-loss agreements with the FDIC.
•		Gain on derivative activities of $22.9 million, representing the increase in the valuation of interest rate swaps used to manage the Group’s future interest rate risk exposure.
•		Strategic decision in December 2010 to sell the remaining balance of the BALTA private label collateralized mortgage obligation (CMO). The proceeds from such sale amounted to approximately $63.5 million, which were slightly higher than the $63.2 million fair value at which this instrument was carried in books. This $300,000 difference represents a positive effect on stockholders’equity of this transaction for Oriental. A loss of $22.8 million was recorded in the fourth quarter for the difference between the amortized cost and the sales price,
•		Reduction of $1.1 million in non-interest expenses compared to the previous quarter, due to continued cost savings related to the former Eurobank operations and our on-going cost control strategy.

4Q10 Income Statement Analysis

•		Interest income of $72.4 million declined 10.9%, or $8.8 million, primarily due to higher premium amortization as a result of increase in pre-payments on mortgage-backed securities early in the fourth quarter. Interest income from non-covered loans increased to $18.2 million from $17.7 million, while interest income from covered loans (the former Eurobank loans) fell to $15.9 million from $16.6 million. Loan yield increased to 7.32% from 7.20% in the third quarter. Loans generated 47% of total interest income versus 42% in the third quarter and 24% in year ago quarter.
•		Interest expense of $41.8 million fell 2.9%, or $1.3 million. Interest expense on borrowings declined 4.1%, primarily due to the September 2010 repayment of the FDIC note related to the Eurobank transaction. Interest expense on deposits declined to an average cost of 1.95% versus 2.03% in the previous quarter as deposit pricing within the Puerto Rico market is reflecting a more reasonable level of competition.
•		The net credit impairment on covered loans, recorded as a provision, consisted of $49.3 million in gross estimated losses, mostly attributed to certain pools which have shown increase in credit deterioration in recent months, less a $43.0 million increase in the FDIC shared-loss indemnification asset. Conversely, from their acquisition on April 30, 2010 through December 31, 2010, covered loans have generated $23.4 million more in cash flows than originally expected. If the cash flows continue to outperform the original estimate, the allowance for loan losses for these pools may be reduced and interest income for these loans may be increased.
•		Non-interest income from wealth management and banking services of $8.4 million increased 5.8%. Total wealth management assets of $3.9 billion at December 31, 2010 grew 9.2% from September 30, 2010, with increases of 2.6% in trust assets and 19.0% in customer assets with the broker-dealer.
•		Mortgage banking activities revenue fell $1.4 million primarily due to reduced production versus a strong third quarter. Oriental typically sells more than 90% of its residential mortgage production, which is focused primarily on re-sales versus new home sales, into the secondary market.
•		Total non-interest expenses of $31.7 million included $7.9 million related to former Eurobank operations versus $10.2 million in the third quarter. As of year end 2010, Oriental had achieved approximately 30% annualized Eurobank cost savings, as previously planned.

December 31, 2010 Balance Sheet Analysis

•		Cash of $448.9 million increased 214.1% or $306.0 million. This reflects principal pre-payments from investment securities, a $120.7 million reimbursement from the FDIC to cover its 80% share of former Eurobank loan losses claimed to date, and the proceeds from the sale of the BALTA CMO. Some of this cash was reinvested in new agency securities in January 2011.
•		Non-covered loans of $1.2 billion increased 1.2% or $13.1 million from September 30, 2010. This reflects increases in commercial loans, leases and consumer loans, which offset the decrease in residential mortgage loans. While total loan production and purchases declined 1.8%, to $101.5 million, production of commercial loans and leases was $39.6 million, an increase of 28.2% or $8.7 million.
•		Total retail deposits were a record $2.0 billion, increasing 6.0% or $115.3 million. Total borrowings of $3.9 billion declined 1.8% or $71.4 million, reflecting Oriental’s third quarter deleveraging from the previously reported retirement at maturity of a $100 million repurchase agreement.
•		Investment securities of $4.4 billion increased 1.7% or $74.1 million. As a result of the sale of the BALTA CMO, approximately 98% of Oriental’s investment securities portfolio as of December 31, 2010 consists of fixed-rate mortgage-backed securities or notes, guaranteed or issued by FNMA, FHLMC or GNMA, and U.S. agency senior debt obligations, backed by a U.S. government sponsored entity or the full faith and credit of the U.S. government.
•		During the quarter, Oriental purchased FNMA and FHLMC certificates and categorized these as Held-to-Maturity with a December 31, 2010 balance of $689.9 million.

4Q10 Credit Quality on Loans Not Covered Under the Shared-Loss Agreements with the FDIC

•		Provision for loan and lease losses of $3.7 million declined 9.8% or $0.4 million, while the allowance of $31.4 million increased 6.0% or $1.8 million, rising to 2.66% of total loans and leases versus 2.54% at September 30, 2010.
•		Net credit losses of $1.9 million (0.66% of average loans outstanding) declined 22.4%, or $0.6 million. For the year, net credit losses totaled $7.7 million, below Oriental’s previously stated expectations of $8-$9 million.
•		Non-performing loans of $122.8 million increased 10.9% or $12.1 million. The increase mainly reflects Oriental’s $10.0 million participation in a Shared National Credit commercial loan. This loan continues to comply with all contractual payments, but was classified as non-performing due to an estimated reduction in the appraised value of the property held as collateral.

Capital

•

Oriental continues to maintain regulatory capital ratios well above the requirements for a well-capitalized institution. At December 31, 2010, the Leverage Capital Ratio was 9.56%, Tier-1 Risk-Based Capital Ratio was 26.42%, and Total Risk-Based Capital Ratio was 27.69%.

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.

Conference Call

A conference call to discuss Oriental’s results, outlook and related matters will be held on Thursday, February 3, 2011, at 10:00 AM Eastern & 11:00 AM Puerto Rico 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 operating under U.S. and Puerto Rico banking laws and regulations. Now in its 47^th year in business, Oriental provides a full range of mortgage, commercial and consumer 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.

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, 2009, and its quarterly reports on Form 10-Q for the quarters ended March 31, 2010, June 30, 2010, and September 30, 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.

# # #

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE: OFG)

		QUARTER ENDED																YEAR ENDED
(Dollars in thousands):		31-Dec-10				31-Dec-09				%				30-Sep-10				31-Dec-10				31-Dec-09				%
SUMMARY OF OPERATIONS
Interest Income:
Loans
Loans not covered under shared-loss agreements with the FDIC		$	18,160			$	17,826				1.9	%		$	17,700			$	71,310			$	73,155				-2.5	%
Loans covered under shared-loss agreements with the FDIC			15,926				—				100.0	%			16,647				44,158				—				100.0	%
Mortgage-backed securities			33,132				46,837				-29.3	%			40,429				158,674				198,015				-19.9	%
Investment securities			5,050				10,209				-50.5	%			6,367				29,262				47,776				-38.8	%
Short term investments			134				23				482.6	%			78				397				534				-25.7	%
Total interest income			72,402				74,895				-3.3	%			81,221				303,801				319,480				-4.9	%
Interest Expense:
Deposits			12,661				12,731				-0.5	%			12,680				48,535				54,693				-11.3	%
Securities sold under agreements to repurchase			24,709				25,818				-4.3	%			25,128				100,609				116,755				-13.8	%
Advances from FHLB and other borrowings			3,101				3,103				-0.1	%			3,082				12,248				12,380				-1.1	%
FDIC-guaranteed term notes			1,021				1,021				0.0	%			1,021				4,084				3,175				28.6	%
Note payable to the FDIC			—				—				0.0	%			823				1,887				—				100.0	%
Subordinated capital notes			308				307				0.3	%			327				1,238				1,465				-15.5	%
Total interest expense			41,800				42,980				-2.7	%			43,061				168,601				188,468				-10.5	%
Net interest income			30,602				31,915				-4.1	%			38,160				135,200				131,012				3.2	%
Provision for non-covered loan and lease losses			3,700				4,400				-15.9	%			4,100				15,914				15,650				1.7	%
Provision for covered loan and lease losses, net			6,282				—				100.0	%			—				6,282				—				100.0	%
Net interest income after provision for loan and lease losses			20,620				27,515				-25.1	%			34,060				113,004				115,362				-2.0	%
Non-Interest Income (Loss):
Wealth management revenues			4,692				4,309				8.9	%			4,554				17,849				14,473				23.3	%
Banking service revenues			3,742				1,612				132.1	%			3,414				11,772				5,942				98.1	%
Mortgage banking activities			1,999				2,537				-21.2	%			3,418				9,554				9,728				-1.8	%
Investment banking revenues (losses)			25				—				100.0	%			59				118				(4	)			-3050.0	%
Total banking and wealth management revenues			10,458				8,458				23.6	%			11,445				39,293				30,139				30.4	%
Total loss on other-than-temporarily impaired securities			—				(53,789	)			-100.0	%			(14,739	)			(39,674	)			(101,472	)			-60.9	%
Portion of loss on securities recognized in other comprehensive income			—				6,390				-100.0	%			—				22,508				41,398				-45.6	%
Other-than-temporary impairments on securities			—				(47,399	)			-100.0	%			(14,739	)			(17,166	)			(60,074	)			-71.4	%
Net gain (loss) on:
Sales of securities			(22,775	)			(52,003	)			-56.2	%			13,954				15,032				4,385				242.8	%
Derivatives			22,941				9,149				150.7	%			(22,580	)			(36,891	)			28,927				-227.5	%
Trading securities			21				137				-84.7	%			4				23				12,564				-99.8	%
Fair value adjustment on FDIC equity appreciation instrument			—				—				0.0	%			—				909				—				100.0	%
Accretion of FDIC loss-share indemnification asset			1,416				—				100.0	%			1,600				4,330				—				100.0	%
Foreclosed real estate			(241	)			6				-4116.7	%			(140	)			(524	)			(570	)			-8.1	%
Early extinguishment of repurchase agreements			—				—				0.0	%			—				—				(17,551	)			-100.0	%
Other			67				19				252.6	%			(8	)			124				113				9.7	%
Total non-interest income (loss), net			11,887				(81,633	)			-114.6	%			(10,464	)			5,130				(2,067	)			-348.2	%
Non-Interest Expenses:
Compensation and employee benefits			11,354				8,345				36.1	%			11,686				41,723				32,020				30.3	%
Occupancy and equipment			5,073				3,768				34.6	%			5,486				18,556				14,763				25.7	%
Professional and service fees			4,939				2,968				66.4	%			5,480				16,491				10,379				58.9	%
Insurance			1,788				1,673				6.9	%			1,651				7,006				7,233				-3.1	%
Taxes, other than payroll and income taxes			1,348				875				54.1	%			1,641				5,106				3,004				70.0	%
Advertising and business promotion			1,639				880				86.3	%			1,275				4,978				4,208				18.3	%
Electronic banking charges			1,392				587				137.1	%			1,322				4,504				2,194				105.3	%
Communication			656				404				62.4	%			827				2,561				1,567				63.4	%
Loan servicing and clearing expenses			512				363				41.0	%			1,021				3,051				2,390				27.7	%
Foreclosure and repossession expenses			1,311				279				369.9	%			694				2,830				929				204.6	%
Directors and investor relations			365				344				6.1	%			396				1,463				1,374				6.5	%
Printing, postage, stationery and supplies			393				237				65.8	%			299				1,188				902				31.7	%
Other			879				683				28.7	%			927				3,141				2,415				30.1	%
Total non-interest expenses			31,649				21,406				47.9	%			32,705				112,598				83,378				35.0	%
Income (loss) before income taxes			858				(75,524	)			-101.1	%			(9,109	)			5,536				29,917				-81.5	%
Income tax expense (benefit)			(4,216	)			(1,479	)			185.1	%			(1,287	)			(4,298	)			6,972				-161.6	%
Net income (loss)			5,074				(74,045	)			-106.9	%			(7,822	)			9,834				22,945				-57.1	%
Less: Dividends on preferred stock			(1,200	)			(1,201	)			-0.1	%			(1,200	)			(5,334	)			(4,802	)			11.1	%
Less: Deemed dividend on preferred stock beneficial conversion feature			—				—				0.0	%			(22,711	)			(22,711	)			—				-100.0	%
Income available (loss) to common shareholders		$	3,874			$	(75,246	)			-105.1	%		$	(31,733	)		$	(18,211	)		$	18,143				-200.4	%

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE: OFG)

		QUARTER ENDED																YEAR ENDED
(Dollars in thousands, except per share data)		31-Dec-10				31-Dec-09				%				30-Sep-10				31-Dec-10				31-Dec-09				%
PRE-TAX OPERATING INCOME
Net interest income		$	30,602			$	31,915				-4.1	%		$	38,160			$	135,200			$	131,012				3.2	%
Less provision for non-covered loan and lease losses			(3,700	)			(4,400	)			-15.9	%			(4,100	)			(15,914	)			(15,650	)			-1.7	%
Core non-interest income:
Wealth management revenues			4,692				4,309				8.9	%			4,554				17,849				14,473				23.3	%
Banking service revenues			3,742				1,612				132.1	%			3,414				11,772				5,942				98.1	%
Mortgage banking activities			1,999				2,537				-21.2	%			3,418				9,554				9,728				-1.8	%
Investment banking revenues			25				—				100.0	%			59				118				(4	)			100.0	%
Total core non-interest income			10,458				8,458				23.6	%			11,445				39,293				30,139				30.4	%
Less non interest expenses			(31,649	)			(21,406	)			47.9	%			(32,705	)			(112,598	)			(83,378	)			-35.0	%
Total Pre-tax operating income		$	5,711			$	14,567				-60.8	%		$	12,800			$	45,981			$	62,123				-26.0	%
INCOME (LOSS) PER COMMON SHARE
Basic		$	0.08			$	(3.10	)			-102.7	%		$	(0.70	)		$	(0.50	)		$	0.75				-166.4	%
Diluted		$	0.08			$	(3.09	)			-102.7	%		$	(0.70	)		$	(0.49	)		$	0.75				-166.3	%
COMMON STOCK DATA
Average common shares outstanding and equivalents			46,433				24,354				90.7	%			45,482				36,810				24,306				51.4	%
Cash dividends per share of common stock		$	0.05			$	0.04				24.8	%		$	0.04			$	0.17			$	0.16				4.2	%
Cash dividends declared on common shares		$	2,320			$	972				138.7	%		$	1,855			$	6,820			$	3,888				75.4	%
Pay-out ratio			60.02	%			-1.30	%			-4723.0	%			-5.74	%			-33.79	%			21.50	%			-257.2	%
SELECTED FINANCIAL DATA
PERFORMANCE RATIOS:
Return on average assets			0.28	%			-4.49	%			-106.1	%			-0.39	%			0.14	%			0.35	%			-61.3	%
Return on average common equity			2.35	%			-103.93	%			-102.3	%			-20.28	%			-3.63	%			7.16	%			-150.7	%
Equity-to-assets ratio			10.01	%			5.04	%			98.7	%			9.55	%			10.01	%			5.04	%			98.7	%
Efficiency ratio			77.08	%			53.02	%			45.4	%			65.93	%			64.53	%			51.74	%			24.7	%
Expense ratio			1.32	%			0.85	%			54.2	%			1.24	%			1.14	%			0.87	%			31.3	%
TAX EQUIVALENT SPREAD
Interest-earning assets			4.50	%			4.94	%			-8.9	%			4.73	%			4.74	%			5.22	%			-9.2	%
Tax equivalent adjustment			0.80	%			1.78	%			-55.1	%			0.92	%			0.99	%			1.72	%			-42.4	%
Interest-earning assets — tax equivalent			5.30	%			6.72	%			-21.1	%			5.65	%			5.73	%			6.94	%			-17.4	%
Interest-bearing liabilities			2.55	%			2.98	%			-14.4	%			2.42	%			2.57	%			3.22	%			-20.2	%
Tax equivalent interest rate spread			2.75	%			3.74	%			-26.5	%			3.23	%			3.16	%			3.72	%			-15.1	%
Tax equivalent interest rate margin			2.70	%			3.88	%			-30.4	%			3.14	%			3.10	%			3.86	%			-19.7	%
NORMAL SPREAD
Investments			3.35	%			4.65	%			-28.0	%			3.78	%			3.96	%			4.99	%			-20.6	%
Loans
Loans not covered under shared-loss agreements with the FDIC			6.26	%			6.16	%			1.6	%			6.10	%			6.14	%			6.21	%			-1.1	%
Loans covered under shared-loss agreements with the FDIC			9.06	%			—				—				8.93	%			8.93	%			—				—
			7.32	%			6.16	%			18.8	%			7.20	%			6.97	%			6.21	%			12.2	%
Interest-earning assets			4.50	%			4.94	%			-8.9	%			4.73	%			4.74	%			5.22	%			-9.2	%
Deposits			1.95	%			2.90	%			-32.8	%			2.03	%			2.12	%			3.13	%			-32.3	%
Borrowings
Securities sold under agreements to repurchase			2.84	%			2.91	%			-2.4	%			2.84	%			2.84	%			3.19	%			-11.0	%
Advances from FHLB and other borrowings			3.78	%			3.80	%			-0.5	%			3.82	%			3.77	%			3.76	%			0.3	%
FDIC-guaranteed term notes			3.88	%			3.71	%			4.6	%			3.86	%			3.87	%			3.58	%			8.1	%
Purchase money note issued to the FDIC			—				—				—				0.53	%			0.73	%			—				—
Subordinated capital notes			3.41	%			3.40	%			0.3	%			3.62	%			3.43	%			4.06	%			-15.5	%
			2.95	%			3.01	%			-2.0	%			2.63	%			2.81	%			3.25	%			-13.5	%
Interest-bearing liabilities			2.55	%			2.98	%			-14.4	%			2.42	%			2.57	%			3.22	%			-20.2	%
Interest rate spread			1.95	%			1.96	%			-0.5	%			2.31	%			2.17	%			2.00	%			8.5	%
Interest rate margin			1.90	%			2.10	%			-9.5	%			2.22	%			2.11	%			2.14	%			-1.4	%
AVERAGE BALANCES
Investments		$	4,574,376			$	4,907,790				-6.8	%		$	4,960,528			$	4,755,710			$	4,938,214				-3.7	%
Loans			1,862,267				1,158,245				60.8	%			1,906,851				1,656,891				1,178,890				40.5	%
Interest-earning assets		$	6,436,643			$	6,066,035				6.1	%		$	6,867,379			$	6,412,601			$	6,117,104				4.8	%
Deposits		$	2,603,713			$	1,755,052				48.4	%		$	2,494,167			$	2,289,167			$	1,746,042				31.1	%
Borrowings			3,954,446				4,022,421				-1.7	%			4,623,159				4,272,056				4,113,207				3.9	%
Interest-bearing liabilities		$	6,558,159			$	5,777,473				13.5	%		$	7,117,326			$	6,561,223			$	5,859,249				12.0	%

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE: OFG)

		AS OF
(Dollars in thousands)		31-Dec-10				31-Dec-09				%				30-Sep-10
BALANCE SHEET
Cash and cash equivalents		$	448,946			$	277,123				62.0	%		$	142,936
Investments:
Trading securities			1,330				523				154.3	%			102
Investment securities available-for-sale, at fair value, with amortized cost of $3,661,146 (December 31, 2009 — $5,044,017, September 30, 2010 — $4,304,055):
FNMA and FHLMC certificates			3,282,190				2,764,172				18.7	%			3,509,126
Obligations of US Government sponsored agencies			3,000				1,007,091				-99.7	%			301,550
Non-agency collateralized mortgage obligations			—				446,037				-100.0	%			63,246
CMO’s issued by US Government sponsored agencies			177,804				286,509				-37.9	%			194,427
GNMA certificates			127,714				346,103				-63.1	%			137,890
Structured credit investments			41,693				38,383				8.6	%			42,443
Puerto Rico Government and agency obligations			67,663				65,364				3.5	%			68,406
Total investment securities available-for-sale			3,700,064				4,953,659				-25.3	%			4,317,088
FNMA and FHLMC certificates held-to-maturity, at amortized cost, with fair value of $675,721 at December 31, 2010			689,917				—				100.0	%			—
Federal Home Loan Bank (FHLB) stock, at cost			22,496				19,937				12.8	%			22,496
Other investments			150				150				0.0	%			150
Total investments			4,413,957				4,974,269				-11.3	%			4,339,836
Securities sold but not yet delivered			—				—				0.0	%			317,209
Loans:
Loans not covered under shared-loss agreements with the FDIC:
Mortgage			872,482				918,935				-5.1	%			887,251
Commercial			234,992				197,777				18.8	%			217,280
Leasing			10,257				—				100.0	%			5,926
Consumer			35,912				22,864				57.1	%			30,757
Total loans receivable not covered under shared-loss agreements with the FDIC, gross			1,153,643				1,139,576				1.2	%			1,141,214
Less: Deferred loan fees, net			(4,354	)			(3,496	)			24.5	%			(4,236	)
Total loans receivable not covered under shared-loss agreements with the FDIC			1,149,289				1,136,080				1.2	%			1,136,978
Allowance for loan and lease losses on non-covered loans			(31,430	)			(23,272	)			35.1	%			(29,640	)
Loans receivable, net			1,117,859				1,112,808				0.5	%			1,107,338
Mortgage loans held for sale			33,979				27,261				24.6	%			31,432
Total loans not covered under shared-loss agreements with the FDIC, net			1,151,838				1,140,069				1.0	%			1,138,770
Loans covered under shared-loss agreements with the FDIC:
Loans secured by 1-4 family residential properties			166,865				—				100.0	%			174,355
Construction and development secured by 1-4 family residential properties			17,253				—				100.0	%			18,165
Commercial and other construction			388,261				—				100.0	%			411,188
Leasing			79,093				—				100.0	%			95,207
Consumer			18,546				—				100.0	%			19,692
Loans covered under shared-loss agreements with the FDIC			670,018				—				100.0	%			718,607
Allowance for loan and lease losses on covered loans			(49,286	)			—				-100.0	%			—
Loans covered under shared-loss agreements with the FDIC, net			620,732				—				100.0	%			718,607
Total loans, net			1,772,570				1,140,069				55.5	%			1,857,377
FDIC shared-loss indemnification asset			471,872				—				100.0	%			548,127
Foreclosed real estate covered under shared-loss agreements with the FDIC			15,962				—				100.0	%			16,380
Foreclosed real estate not covered under shared-loss agreements with the FDIC			11,969				9,347				28.1	%			13,765
Other repossessed assets covered under shared-loss agreements with the FDIC			2,350				—				100.0	%			2,748
Core deposit intangible			1,328				—				100.0	%			1,363
FDIC loss share receivable			1,757				—				100.0	%			426
Accrued interest receivable			28,716				33,656				-14.7	%			30,644
Deferred tax asset, net			30,350				31,685				-4.2	%			35,583
Prepaid FDIC Insurance			16,796				22,568				-25.6	%			18,235
Premises and equipment, net			23,941				19,775				21.1	%			17,125
Other prepaid expenses			7,897				4,269				85.0	%			10,514
Derivative asset			11,023				8,511				29.5	%			—
Servicing asset			9,695				7,120				36.2	%			9,647
Mortgage tax credits			3,432				3,819				-10.1	%			1,954
Debt issuance costs			2,299				3,531				-34.9	%			2,607
Goodwill			3,662				2,006				82.6	%			3,662
Investment in statutory trust			1,086				1,086				0.0	%			1,086
Investment in equity indexed options			9,870				6,464				52.7	%			7,106
Investment in swap options			7,422				—				100.0	%			—
Accounts receivable and other assets			15,877				5,535				186.8	%			20,889
Total assets		$	7,312,777			$	6,550,833				11.6	%		$	7,399,219

ORIENTAL FINANCIAL GROUP
Financial Summary
(NYSE: OFG)

		AS OF
(Dollars in thousands)		31-Dec-10				31-Dec-09				%				30-Sep-10
Deposits:
Non-interest bearing demand deposits		$	170,649			$	73,548				132.0	%		$	168,596
Interest-bearing savings and demand deposits			1,019,594				706,750				44.3	%			954,762
Individual retirement accounts			359,730				312,843				15.0	%			351,743
Retail certificates of deposit			477,180				312,410				52.7	%			436,706
Total Retail Deposits			2,027,153				1,405,551				44.2	%			1,911,807
Institutional deposits			283,686				136,683				107.6	%			406,266
Brokered Deposits			278,048				203,267				36.8	%			278,048
Total deposits			2,588,887				1,745,501				48.3	%			2,596,121
Borrowings:
Short-term borrowings			42,470				49,179				-13.6	%			29,875
Securities sold under agreements to repurchase			3,456,781				3,557,308				-2.8	%			3,541,520
Advances from FHLB			281,753				281,753				0.0	%			281,753
FDIC-guaranteed term notes			105,834				105,834				0.0	%			105,112
Subordinated capital notes			36,083				36,083				0.0	%			36,083
Total borrowings			3,922,921				4,030,157				-2.7	%			3,994,343
Total interest-bearing liabilities			6,511,808				5,775,658				12.7	%			6,590,464
FDIC net settlement payable			24,839				—				100.0	%			41,601
Derivative liability			64				—				100.0	%			8,289
Securities purchased but not yet received			—				413,359				-100.0	%			—
Accrued expenses and other liabilities			43,735				31,650				38.2	%			52,328
Total liabilities			6,580,446				6,220,667				5.8	%			6,692,682
Preferred stock			68,000				68,000				0.0	%			68,000
Common stock			47,808				25,739				85.7	%			47,808
Additional paid-in capital			498,435				213,445				133.5	%			498,486
Legal surplus			46,331				45,279				2.3	%			45,906
Retained earnings			51,502				77,584				-33.6	%			50,374
Treasury stock, at cost			(16,732	)			(17,142	)			-2.4	%			(17,116	)
Accumulated other comprehensive income (loss), net			36,987				(82,739	)			-144.7	%			13,079
Total stockholders’ equity			732,331				330,166				121.8	%			706,537
Total liabilities and stockholders’ equity		$	7,312,777			$	6,550,833				11.6	%		$	7,399,219
SELECTED FINANCIAL DATA AT PERIOD-END
Common shares outstanding at end of period			46,349				24,235				91.2	%			46,317
Book value per common share		$	14.33			$	10.82				32.5	%		$	13.79
Trust assets managed		$	2,175,270			$	1,818,498				19.6	%		$	2,120,833
Broker-dealer assets gathered			1,695,635				1,269,285				33.6	%			1,425,445
Total assets managed		$	3,870,905			$	3,087,783				25.4	%		$	3,546,278