8-K

UNITED STATES
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

Date of Report (Date of earliest event reported): December 29, 2009

ORIENTAL FINANCIAL GROUP INC.

(Exact Name of Registrant as Specified in its Charter)

Commonwealth of Puerto Rico	001-12647	66-0538893
(State or other Jurisdiction of Incorporation)	(Commission File No.)	(I.R.S. Employer
		Identification No.)

Oriental Center Professional Office Park 997 San Roberto Street, 10th Floor San Juan, Puerto Rico	00926
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (787) 771-6800

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

     On December 29, 2009, Oriental Financial Group Inc. (the “Group”) announced the appointment of César Ortiz as Senior Vice President and Controller of the Group. Other appointments were also announced by the Group on that date. All of the appointments are effective on January 1, 2010. Attached hereto is a copy of the Group’s press release in connection with such appointments.

     Mr. Ortiz (age 35) was the Group’s Chief Risk Officer from 2007 through 2009. Prior to joining the Group, Mr. Ortiz worked at Doral Financial Corporation as Chief Accounting Officer and Controller. He started his career in the financial services industry as Senior Manager at PricewaterhouseCoopers LLP. Mr. Ortiz received his Bachelors Degree in Business Administration from the University of Puerto Rico in 1997 and his Juris Doctor from the Interamerican University in 2005. He is licensed to practice law in the Commonwealth of Puerto Rico. He is also a Certified Public Accountant, a Certified Management Accountant, a Certified Financial Manager and a Certified Banking Auditor.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description of Exhibit
99	Press release dated December 29, 2009

SIGNATURES

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

	ORIENTAL FINANCIAL GROUP INC.
Date: December 30, 2009	By:	/s/ Carlos O. Souffront Carlos O. Souffront
		General Counsel and Secretary
		of the Board of Directors

EX-99

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 ANNOUNCES NEW
RESPONSIBILITIES FOR FIVE EXECUTIVES

SAN JUAN, Puerto Rico, December 29, 2009 — Oriental Financial Group Inc. (NYSE: OFG) announced new responsibilities for five executives, effective January 1, 2010, including the consolidation of bank compliance and risk management under Dr. Ganesh Kumar, who continues as Chief Operating Officer.

The rest of the changes are part of a new program of periodically rotating officers to expand their experience and expertise in key areas, and to facilitate communication and collaboration between departments:

• Grettel Báez, CPA, currently Vice President and Auditor General, will become Senior Vice President of Banking Operations.

• Carlos Viña, CPA, currently SVP and Controller, will become SVP and Auditor General.

• César Ortiz, CPA, Esq., currently SVP Risk Management, will become SVP and Controller.

• Rafael Cruz, Eng., currently SVP of Banking Operations, will become SVP Compliance, a new position, reporting to Dr. Kumar.

“We are very pleased to make this announcement,” said José Rafael Fernández, President and Chief Executive Officer. “It not only reflects the strength and stability of our leadership team to take on different roles, but also shows how we can create new opportunities for growth for executive talent.”

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 45^th year in business, Oriental provides a full range of mortgage, commercial and consumer banking services through 21 Oriental Group financial centers in Puerto Rico, as well as financial planning, trust, insurance, investment brokerage and investment banking services. Investor information about Oriental can be found at www.orientalfg.com.

Forward-Looking Statements

This news release may contain forward-looking statements that reflect management’s beliefs and expectations and are subject to risks and uncertainties inherent to the Group’s business, including, without limitation, the effect of economic and market conditions, the level and volatility of interest rates, and other risks and considerations detailed in the Group’s filings with the Securities and Exchange Commission. These or other factors could cause actual results to differ materially from forward-looking statements. The Group also disclaims any obligations to update information contained in this news release because of developments occurring after the date of issuance.

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