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

November 24, 2003

(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. Piñero 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 7.   Financial Statements, Pro Forma Financial Information and Exhibits

(a)	Not applicable.
(b)	Not applicable.
(c)	The following exhibit is included with this Report:
	Exhibit 99.1 Press release dated November 24, 2003.

Item 9.   Regulation FD Disclosure

     On November 24, 2003, R&G Financial Corporation (the “Company”) announced by press release that the Company’s Board of Directors has declared a three-for-two stock split on the Company’s common stock. A copy of the press release is attached hereto as Exhibit 99.1.

SIGNATURES

     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 hereunto duly authorized.

	R&G FINANCIAL CORPORATION
	By:	/s/ Joseph R. Sandoval Joseph R. Sandoval Executive Vice President and Chief Financial Officer
Date: November 24, 2003

EX-99.1 3 g86093exv99w1.txt EX-99.1 PRESS RELEASE DATED NOVEMBER 24, 2003 PRESS RELEASE November 24, 2003 CONTACT: Victor J. Galan, Chairman of the Board and Chief Executive Officer Joseph R. Sandoval, Executive Vice President and Chief Financial Officer PHONE #: (787) 766-8301 WEBSITE: www.rgonline.com FOR RELEASE: IMMEDIATELY R&G FINANCIAL ANNOUNCES THREE-FOR-TWO STOCK SPLIT San Juan, Puerto Rico; November 24, 2003 - R&G Financial Corporation (NYSE: RGF) announced today that its Board of Directors has declared a three-for-two stock split on the Company's common stock. The split will be effected in the form of a stock dividend of one additional share of common stock to be issued on January 29, 2004 for each two shares of common stock held of record as of January 16, 2004. The stock split will not be dilutive to voting rights or shareholders' proportionate interest in the Company. Following distribution of the additional shares, R&G Financial will have 51,065,916 common shares outstanding (comprised of 21,559,584 Class A non-registered common shares and 29,506,332 Class B publicly traded common shares), compared to 34,043,944 shares outstanding prior to declaration of the stock split. Victor J. Galan, Chairman of the Board and Chief Executive Officer of the Company, indicated the stock split is intended to further increase liquidity in the Company's common stock by increasing its float outstanding. The stock split reflects in part the Company's continued earnings growth and strong stock performance. The Company, currently in its 31st 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 Premier Bank of Puerto Rico, one of the fastest growing commercial banks in Puerto Rico, R-G Crown Bank, its Florida-based federal savings bank, R&G Mortgage Corp., Puerto Rico's second largest mortgage banker, Mortgage Store of Puerto Rico, Inc., a subsidiary of R&G Mortgage, Continental Capital Corporation, R&G Financial's New York and North Carolina based mortgage banking subsidiary, R-G Investments Corporation, the Company's Puerto Rico broker-dealer, and Home and Property Insurance Corporation, its Puerto Rico insurance agency. The Company operates 31 bank branches in Puerto Rico, 15 bank branches in the Orlando and Tampa/St. Petersburg Florida markets, 6 mortgage and 6 commercial lending offices in the U.S., and 44 mortgage offices in Puerto Rico, including 24 facilities located within R-G Premier's banking branches. At September 30, 2003, the Company had $7.8 billion of total assets and $725.1 million of stockholders' equity. -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                  PRESS RELEASE

                                November 24, 2003

CONTACT:  Victor J. Galan, Chairman of the Board and Chief Executive Officer

          Joseph R. Sandoval, Executive Vice President and Chief Financial
          Officer

PHONE #: (787) 766-8301

WEBSITE: www.rgonline.com

FOR RELEASE:      IMMEDIATELY

                R&G FINANCIAL ANNOUNCES THREE-FOR-TWO STOCK SPLIT

         San Juan, Puerto Rico; November 24, 2003 - R&G Financial Corporation
(NYSE: RGF) announced today that its Board of Directors has declared a
three-for-two stock split on the Company's common stock. The split will be
effected in the form of a stock dividend of one additional share of common stock
to be issued on January 29, 2004 for each two shares of common stock held of
record as of January 16, 2004.

         The stock split will not be dilutive to voting rights or shareholders'
proportionate interest in the Company. Following distribution of the additional
shares, R&G Financial will have 51,065,916 common shares outstanding (comprised
of 21,559,584 Class A non-registered common shares and 29,506,332 Class B
publicly traded common shares), compared to 34,043,944 shares outstanding prior
to declaration of the stock split.

         Victor J. Galan, Chairman of the Board and Chief Executive Officer of
the Company, indicated the stock split is intended to further increase liquidity
in the Company's common stock by increasing its float outstanding. The stock
split reflects in part the Company's continued earnings growth and strong stock
performance.

         The Company, currently in its 31st 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 Premier Bank of Puerto Rico, one of
the fastest growing commercial banks in Puerto Rico, R-G Crown Bank, its
Florida-based federal savings bank, R&G Mortgage Corp., Puerto Rico's second
largest mortgage banker, Mortgage Store of Puerto Rico, Inc., a subsidiary of
R&G Mortgage, Continental Capital Corporation, R&G Financial's New York and
North Carolina based mortgage banking subsidiary, R-G Investments Corporation,
the Company's Puerto Rico broker-dealer, and Home and Property Insurance
Corporation, its Puerto Rico insurance agency. The Company operates 31 bank
branches in Puerto Rico, 15 bank branches in the Orlando and Tampa/St.
Petersburg Florida markets, 6 mortgage and 6 commercial lending offices in the
U.S., and 44 mortgage offices in Puerto Rico, including 24 facilities located
within R-G Premier's banking branches. At September 30, 2003, the Company had
$7.8 billion of total assets and $725.1 million of stockholders' equity.