8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

July 30, 2002

(Date of earliest event reported)

R&G FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Puerto Rico	0-22137	66-0532217
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

280 Jesús T. Pinero Ave., Hato Rey, San Juan, Puerto Rico	00918
(Address of principal executive offices)	(Zip Code)

(787) 758-2424

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Item 5.  OTHER EVENTS

              On July 30, 2002, R&G Financial Corporation (the “Company”) announced the pricing of an offering of 3.5 million shares of its Class B Common Stock at a price of $19.00 per share, a copy of the release is attached as an exhibit hereto.

Item 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

(a)	Not applicable.
(b)	Not applicable.
(c)	The following exhibits are included with this Report:
	Exhibit 99.1 Press Release dated July 30 , 2002.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

R&G FINANCIAL CORPORATION
By	/s/ Joseph R. Sandoval
	Joseph R. Sandoval Chief Financial Officer

Date:   July 30, 2002.

EX-99.1 3 g77448exv99w1.htm PRESS RELEASE DATED JULY 30, 2002.

Exhibit 99.1

PRESS RELEASE

FOR RELEASE:	Immediately
CONTACT:	Víctor J. Galán Chairman and Chief Executive Officer (787) 766-8301

R&G FINANCIAL CORPORATION PRICES OFFERING OF 3,500,000 SHARES OF CLASS B COMMON STOCK

     SAN JUAN, PUERTO RICO –July 30, 2002 – R&G Financial Corporation (NYSE: RGF) (the “Company”) announced the pricing last night of 3,500,000 shares of its Class B Common Stock, 2,000,000 of which were offered by the Company and 1,500,000 of which were offered by Víctor J. Galán, the Chairman of the Board, Chief Executive Officer and majority shareholder of the Company, all at a per share price of $19.00. The aggregate net offering proceeds to the Company are estimated to be $36 million. The Company will not receive any proceeds from the sale of shares by Mr. Galán. UBS Warburg, LLC and Keefe, Bruyette & Woods, Inc. acted as managing underwriters for the offering.

     The Company, currently in its 30th year of operations, is a diversified financial holding company with operations in Puerto Rico and the United States providing banking, mortgage banking, investments, consumer finance and insurance through its wholly-owned subsidiaries: R&G Mortgage Corp., the second largest mortgage company in Puerto Rico, R-G Premier Bank of Puerto Rico, one of the fastest growing banks in Puerto Rico, Crown Bank, a Federal Savings Bank with branches in Central Florida, Continental Capital Corp., a New York mortgage banking company, Home & Property Insurance Corp., a Puerto Rico insurance agency, The Mortgage Store of Puerto Rico, a Puerto Rico mortgage company, and R-G Investments Corp., a registered broker-dealer. The Company, though its subsidiaries, has a combined branch network of 68 offices (38 mortgage offices in Puerto Rico, 4 mortgage offices in the United States and 26 bank branches, mainly located in northeastern Puerto Rico.) At June 30, 2002, the Company had consolidated assets totaling $5.9 billion.

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EX-99.1

exv99w1