Exhibit 99.1

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 RESULTS
FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2008

SAN JUAN, Puerto Rico, November 13, 2008 — Oriental Financial Group Inc. (NYSE: OFG) today announced results for the third quarter ended September 30, 2008.

The Group reported a loss of $46.1 million, or ($1.89) per share (diluted), which includes three previously reported items: (i) an other-than-temporary impairment (OTTI) non-cash loss of $55.8 million, net of tax ($2.29 per diluted share); (ii) a net of tax loss of $4.1 million ($0.17 per diluted share), in connection with derivative transactions under option agreements in which the recoverability from the counterparty (Lehman Brothers Finance S.A.) is uncertain; and (iii) an income tax benefit of $500,000 ($0.02 per share), for the reassessment of the valuation allowance for the Group’s deferred tax asset.

Excluding these items, the Company had income available to common shareholders of $13.4 million, equal to $0.55 per share (diluted), an increase of 83.6% over the year ago quarter’s $7.3 million, equal to $0.30 per share (diluted).

Commentary and Outlook

Commenting on the Group’s operating results, José Rafael Fernández, President and Chief Executive Officer, said, “During the third quarter we continued to focus on increasing credit quality, minimizing risk and maintaining a capital position comfortably in excess of regulatory requirements, all of which we accomplished. Combined with the strategies we already had in place, we continued to perform well.”

“While our investment securities portfolio increased year over year, it declined during the third quarter, mainly as a result of repayments of securities in both the held-to-maturity and the available-for-sale portfolios, which we did not replace because of turbulent market conditions. Similarly, while loan balances and originations are up year over year due to our improving competitive position, we continued to take a conservative approach toward production during the quarter. And while the local economic situation is still soft, we maintained a good level of non-interest banking and financial services revenue.

“As a result, income available to common shareholders, excluding previously mentioned charges and tax benefit, was up strongly for the quarter, and net interest income and margin were significantly better than last year. The provision for loan losses is level with the

second quarter of 2008, and we have continued to increase our allowance coverage ratios while maintaining a low level of net credit losses. Non-performing loans declined, albeit slightly, for the second quarter in a row. We believe we are well positioned to continue to benefit from our strategies in the quarters ahead.”

Third Quarter 2008 Income Statement

Net interest income of $28.0 million increased 42.7% from the year ago quarter, reflecting higher overall yield (5.67% versus 5.59%) and average interest-earning assets (up 11.6%) combined with lower average rates paid on deposits and borrowings (4.04% versus 4.40%). Net interest margin increased to 1.88% as compared to 1.46% in the year ago quarter. On a tax-equivalent basis, the net interest margin increased to 3.74% as compared to 3.03% in the year ago quarter.

Total banking and financial service revenues of $6.3 million declined from the year ago and trailing quarter, but are up 1.3% year to date. Oriental’s high level of financial services revenue reflects the Group’s focus on financial planning for mid and high net worth clients. Assets under management, which generate recurring fees, totaled $3.08 billion at September 30, 2008, an increase of 1.9% from a year ago and a reduction of only 4.8% from June 30, 2008, despite 2008’s sharp decline in the stock and bond markets.

Non-interest expenses of $18.2 million increased 10.1% from the year ago quarter, but only nominally from the previous quarter. The efficiency ratio improved to 53.03% from 62.65% in the year ago quarter.

September 30, 2008 Balance Sheet Highlights

Total interest earning assets of approximately $5.74 billion increased 2.4% over a year ago and declined 2.1% from the end of the previous quarter. Year over year growth reflects management’s strategy of supplementing the loan originations in 2007 with the purchase of investment securities at a favorable spread.

Approximately 84% of Oriental’s investment portfolio consists of fixed-rate mortgage-backed securities or notes, guaranteed or issued by FNMA, FHLMC, or GNMA and U.S. agency senior debt obligations, and thus backed by a U.S. government sponsored entity or the full faith and credit of the U.S. government (82%), and Puerto Rico Government and agency obligations (2%). The remaining 16% consists of investment grade non-agency collateralized mortgage obligations (13%), the majority of which are backed by prime fixed-rate residential mortgage collateral, and structured credit investments (3%).

Total net loans increased 1.9% year over year and were approximately level with the end of the preceding quarter. Mortgage loan production for the quarter of $56.1 million was 120.4% greater than in the year ago quarter. The average FICO score was 719 and the average loan to value ratio was 83% on the mortgage loans originated in the third quarter. Commercial loan production increased 68.8% over the year ago quarter.

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Oriental continued to change its funding mix during the third quarter, using wholesale certificates of deposit as a more economical and flexible alternative for replacing higher cost retail deposits and short-term repurchase agreements. As a result, deposits of $1.51 billion increased 19.1% year over year and 1.4% from the preceding quarter, while borrowings of $4.13 billion declined 2.1% year over year and 2.0% from the preceding quarter. The mix change, along with lower interest rates, helped reduce total interest expense as compared to the previous quarter. The change in the composition of retail deposits largely reflects the conversion in the third quarter of the Oriental Money savings and checking account to an interest-bearing checking account.

Credit Quality

Non-performing loans of $68.6 million at September 30, 2008 were down slightly on a sequential basis. Foreclosed properties increased to $8.2 million from $4.9 million at June 30, 2008. Net credit losses year to date are up $250,000, to $3.3 million, representing 0.36% of average loans outstanding versus 0.32% in the comparable 2007 period. The allowance for loan losses stood at $12.5 million (1.01% of total loans) at September 30, 2008, compared to $11.9 million (0.97% of total loans) at June 30, 2008.

Based on historical performance, the Group does not expect its non-performing loans to result in significantly higher losses as most are well-collateralized with adequate loan-to-value ratios. The Group follows a sound residential mortgage lending policy, with more than 90% of its residential mortgage loan portfolio consisting of fixed-rate, fully amortizing, fully documented loans that do not have the level of risk generally associated with subprime loans. Furthermore, the Group has not been active in negative amortization loans or adjustable rate mortgage loans.

Capital

Stockholders’ equity of $242.0 million at September 30, 2008 is down $59.1 million from June 30, 2008. The change primarily reflects the OTTI charge, a reduction in the fair value of other available-for-sale securities recorded as part of other comprehensive income, and dividends declared on common and preferred stock, partially offset by net income from operations.

The Group maintains capital ratios comfortably in excess of regulatory requirements. At September 30, 2008, the Leverage Capital Ratio was 5.98% (1.5 times the minimum of 4.00%), the Tier I Risk-Based Capital Ratio was 15.93% (4.0 times the minimum of 4.00%), and the Total Risk-Based Capital Ratio was 16.49% (2.1 times the minimum of 8.00%).

Non-GAAP Financial Measures

From time to time, the Group uses certain non-GAAP measures of financial performance to supplement the unaudited financial statements presented in accordance with GAAP. The Group presents non-GAAP measurements when we believe that the additional information is useful and meaningful to investors. Non-GAAP measurements do not have any standardized meaning and are therefore unlikely to be comparable to similar measures

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presented by other companies. The presentation of non-GAAP measurements is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with GAAP.

We have reported and discussed our results of operations herein both with and without the effect of impairment charges and tax benefit in the September 2008 quarter. We believe that, given the nature of these items, it is useful to state what our results of operations would have been without them so that investors can see the financial trends for our continuing business.

10-Q Filing

After receiving an extension from the SEC, the Group expects to file its Form 10-Q for the third quarter of 2008 on Monday, November 17, 2008.

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 44^th year in business, Oriental provides a full range of mortgage, commercial and consumer banking services through 23 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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	ORIENTAL FINANCIAL GROUP Financial Summary (NYSE: OGF)
		QUARTER ENDED												NINE-MONTH PERIOD ENDED
		30-Sep-08			30-Sep-07			%			30-Jun-08			30-Sep-08			30-Sep-07			%
Summary of Operations (Dollars in thousands, except per share data):
Interest Income:
Loans		$	19,971		$	21,699			-8.0	%	$	19,682		$	59,481		$	65,862			-9.7	%
Investment securities and other			64,773			53,227			21.7	%		65,476			192,522			141,364			36.2	%
Total interest income			84,744			74,926			13.1	%		85,158			252,003			207,226			21.6	%
Interest Expense:
Deposits			12,202			13,561			-10.0	%		12,265			36,746			39,409			-6.8	%
Securities sold under agreements to repurchase			40,456			37,405			8.2	%		40,208			120,904			106,739			13.3	%
Other borrowed funds			4,045			4,310			-6.1	%		4,250			12,818			10,350			23.8	%
Total interest expense			56,703			55,276			2.6	%		56,723			170,468			156,498			8.9	%
Net interest income			28,041			19,650			42.7	%		28,435			81,535			50,728			60.7	%
Provision for loan losses			1,950			1,614			20.8	%		1,980			5,580			4,064			37.3	%
Net interest income after provision for loan losses			26,091			18,036			44.7	%		26,455			75,955			46,664			62.8	%
Non-Interest Income:
Financial service revenues			3,756			3,737			0.5	%		4,500			12,496			12,629			-1.1	%
Banking service revenues			1,406			1,862			-24.5	%		1,395			4,328			6,001			-27.9	%
Investment banking revenues			200			113			77.0	%		12			950			113			740.7	%
Mortgage banking activities			910			1,010			-9.9	%		545			2,461			1,242			98.1	%
Total banking and financial service revenues			6,272			6,722			-6.7	%		6,452			20,235			19,985			1.3	%
Net gain (loss) on:
Sale of securities available-for-sale			386			—			100.0	%		198			9,908			358			2667.6	%
Other than temporary impairments			(58,804	)		—			-100.0	%		—			(58,804	)		—			-100.0	%
Derivatives			(5,522	)		154			-3686.0	%		228			(13,247	)		8,538			-255.2	%
Other investments			16			297			-94.6	%		16			132			1,083			-87.8	%
Trading securities			(31	)		(2	)		-1450.0	%		16			(32	)		—			-100.0	%
Foreclosed real estate			58			(59	)		198.3	%		(260	)		(452	)		8			-5750.0	%
Other			609			22			2668.2	%		—			608			88			590.9	%
Total non-interest income (loss), net			(57,016	)		7,134			-899.2	%		6,650			(41,652	)		30,060			-238.6	%
Non-Interest Expenses:
Compensation and employee benefits			7,742			7,561			2.4	%		7,824			23,281			21,222			9.7	%
Occupancy and equipment			3,561			3,045			16.9	%		3,365			10,213			9,381			8.9	%
Professional and service fees			2,457			1,543			59.2	%		2,267			6,604			5,316			24.2	%
Advertising and business promotion			847			1,069			-20.8	%		836			2,757			2,980			-7.5	%
Directors and investor relations			273			308			-11.4	%		303			854			1,608			-46.9	%
Loan servicing expenses			352			349			0.9	%		339			1,022			1,412			-27.6	%
Taxes, other than payroll and income taxes			644			607			6.1	%		607			1,862			1,543			20.7	%
Electronic banking charges			428			431			-0.7	%		396			1,242			1,346			-7.7	%
Clearing and wrap fees expenses			294			321			-8.4	%		313			901			997			-9.6	%
Communication			314			354			-11.3	%		325			964			1,001			-3.7	%
Insurance			618			210			194.3	%		579			1,799			638			182.0	%
Printing, postage, stationery and supplies			214			177			20.9	%		245			736			568			29.6	%
Other			453			547			-17.2	%		681			1,772			1,815			-2.4	%
Total non-interest expenses			18,197			16,522			10.1	%		18,080			54,007			49,827			8.4	%
Income (loss) before income taxes			(49,122	)		8,648			-668.0	%		15,025			(19,704	)		26,897			-173.3	%
Income tax expense (benefit)			(4,226	)		196			-2256.1	%		598			(6,083	)		1,007			-704.1	%
Net income (loss)			(44,896	)		8,452			-631.2	%		14,427			(13,621	)		25,890			-152.6	%
Less: Dividends on preferred stock			(1,200	)		(1,200	)		—			(1,200	)		(3,601	)		(3,601	)		—
Income (loss) available to common shareholders		$	(46,096	)	$	7,252			-735.6	%	$	13,227		$	(17,222	)	$	22,289			-177.3	%

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	ORIENTAL FINANCIAL GROUP Financial Summary (NYSE: OGF)
		QUARTER ENDED												NINE-MONTH PERIOD ENDED
		30-Sep-08			30-Sep-07			%			30-Jun-08			30-Sep-08			30-Sep-07			%
(Dollars in thousands, except per share data):
EARNINGS (LOSSES) PER SHARE
Basic			($1.90	)	$	0.30			-733.3	%	$	0.54			($0.71	)	$	0.91			-178.0	%
Diluted			($1.89	)	$	0.30			-730.0	%	$	0.54			($0.71	)	$	0.91			-178.0	%
COMMON STOCK DATA
Average common shares outstanding			24,292			24,230			0.3	%		24,290			24,249			24,396			-0.6	%
Average potential common shares-options			82			31			164.5	%		94			100			110			-9.1	%
Total average shares outstanding and equivalents			24,374			24,261			0.5	%		24,384			24,349			24,506			-0.6	%
Cash dividends per share of common stock		$	0.14		$	0.14			—		$	0.14		$	0.42		$	0.42			—
Cash dividends declared on common shares		$	3,402		$	3,377			0.7	%	$	3,404		$	10,206		$	10,235			-0.3	%
Pay-out ratio			-7.37	%		46.67	%		-115.8	%		25.93	%		-59.15	%		46.15	%		-228.2	%
SELECTED FINANCIAL DATA
PERFORMANCE RATIOS:
Return on average assets			-2.99	%		0.59	%		-606.8	%		0.95	%		-0.30	%		0.66	%		-145.5	%
Return on average common equity			-88.58	%		11.17	%		-893.1	%		20.65	%		-8.97	%		11.20	%		-180.1	%
Efficiency ratio			53.03	%		62.65	%		-15.4	%		51.82	%		53.07	%		70.47	%		-24.7	%
TAX EQUIVALENT SPREAD
Interest-earning assets			5.67	%		5.59	%		1.4	%		5.69	%		5.64	%		5.56	%		1.4	%
Tax equivalent adjustment			1.87	%		1.56	%		19.9	%		1.88	%		1.86	%		1.52	%		22.4	%
Interest-earning assets — tax equivalent			7.54	%		7.15	%		5.5	%		7.57	%		7.50	%		7.08	%		5.9	%
Interest-bearing liabilities			4.04	%		4.40	%		-8.2	%		4.01	%		4.08	%		4.46	%		-8.5	%
Tax equivalent interest rate spread			3.50	%		2.75	%		27.3	%		3.56	%		3.42	%		2.62	%		30.5	%
Tax equivalent interest rate margin			3.74	%		3.03	%		23.4	%		3.78	%		3.69	%		2.88	%		28.1	%
NORMAL SPREAD
Investments			5.45	%		5.19	%		5.0	%		5.48	%		5.40	%		5.06	%		6.7	%
Loans			6.52	%		6.92	%		-5.8	%		6.52	%		6.57	%		7.03	%		-6.5	%
Interest-earning assets			5.67	%		5.59	%		1.4	%		5.69	%		5.64	%		5.56	%		1.4	%
Deposits			3.41	%		4.29	%		-20.5	%		3.44	%		3.62	%		4.19	%		-13.6	%
Borrowings			4.26	%		4.43	%		-3.8	%		4.20	%		4.23	%		4.56	%		-7.2	%
Interest-bearing liabilities			4.04	%		4.40	%		-8.2	%		4.01	%		4.08	%		4.46	%		-8.5	%
Interest rate spread			1.63	%		1.19	%		37.0	%		1.68	%		1.56	%		1.10	%		41.8	%
Interest rate margin			1.88	%		1.46	%		28.8	%		1.90	%		1.82	%		1.36	%		33.8	%
AVERAGE BALANCES
Investments		$	4,756,244		$	4,104,277			15.9	%	$	4,776,560		$	4,749,345		$	3,722,042			27.6	%
Loans			1,224,318			1,253,760			-2.3	%		1,208,098			1,207,872			1,248,967			-3.3	%
Interest-earning assets		$	5,980,562		$	5,358,037			11.6	%	$	5,984,658		$	5,957,217		$	4,971,009			19.8	%
Deposits		$	1,429,759		$	1,264,282			13.1	%	$	1,427,904		$	1,354,863		$	1,252,790			8.1	%
Borrowings			4,182,375			3,763,340			11.1	%		4,236,568			4,210,306			3,424,695			22.9	%
Interest-bearing liabilities		$	5,612,134		$	5,027,622			11.6	%	$	5,664,472		$	5,565,169		$	4,677,485			19.0	%

	ORIENTAL FINANCIAL GROUP Financial Summary (NYSE: OGF)
		AS OF
		30-Sep-08			30-Sep-07			%			30-Jun-08			31-Dec-07
(Dollars in thousands)
BALANCE SHEET
Cash and due from banks		$	40,382		$	74,885			-46.1	%	$	56,486		$	88,983
Interest-earning assets:
Investments:
Trading securities			1,061			240			342.1	%		1,311			1,122
Investment securities available-for-sale, at fair value with amortized cost of $3,403,608 (September 30, 2007-$2,832,329; June 30, 2008- $3,467,005; December 31, 2007-$3,063,763)			3,307,820			2,829,171			16.9	%		3,382,307			3,069,282
Investment securities held-to-maturity, at amortized cost with fair value of $1,171,853 (September 30, 2007-$1,526,876; June 30, 2008- $1,198,736; December 31, 2007-$1,478,112)			1,191,671			1,555,671			-23.4	%		1,238,147			1,492,887
Federal Home Loan Bank (FHLB) stock, at cost			19,812			21,387			-7.4	%		22,062			20,658
Other investments			150			1,613			-90.7	%		150			1,661
Total investments			4,520,514			4,408,082			2.6	%		4,643,977			4,585,610
Loans:
Mortgage loans			1,003,022			998,393			0.5	%		995,085			989,487
Commercial loans, mainly secured by real estate			177,687			159,477			11.4	%		170,844			157,198
Consumer loans			23,832			30,008			-20.6	%		25,479			29,245
Loans receivable, gross			1,204,541			1,187,878			1.4	%		1,191,408			1,175,930
Less: Deferred loan fees, net			(3,389	)		(2,927	)		-15.8	%		(3,488	)		(2,875	)
Loans receivable			1,201,152			1,184,951			1.4	%		1,187,920			1,173,055
Allowance for loan losses			(12,466	)		(9,055	)		-37.7	%		(11,885	)		(10,161	)
Loans receivable, net			1,188,686			1,175,896			1.1	%		1,176,035			1,162,894
Mortgage loans held for sale			31,152			21,607			44.2	%		42,122			16,672
Total loans, net			1,219,838			1,197,503			1.9	%		1,218,157			1,179,566
Total interest-earning assets			5,740,352			5,605,585			2.4	%		5,862,134			5,765,176
Securities sold but not yet delivered			4,857			45,866			-89.4	%		—			—
Accrued interest receivable			38,104			33,162			14.9	%		42,842			52,315
Premises and equipment, net			20,911			20,124			3.9	%		21,378			21,779
Deferred tax asset, net			22,577			14,136			59.7	%		17,249			10,362
Foreclosed real estate			8,220			4,349			89.0	%		4,906			4,207
Investment in equity indexed options			13,548			36,738			-63.1	%		27,641			40,709
Prepaid expenses			4,516			3,214			40.5	%		5,004			2,645
Mortgage tax credits			6,439			—			100.0	%		4,992			69
Goodwill			2,006			2,006			—			2,006			2,006
Investment in Statutory Trusts			1,086			1,086			—			1,086			1,086
Servicing asset			3,004			2,213			35.7	%		2,934			2,526
Accounts receivable and other assets			8,664			13,825			-37.3	%		11,521			7,992
Total assets		$	5,914,666		$	5,857,189			1.0	%	$	6,060,179		$	5,999,855
Interest-bearing liabilities:
Deposits:
Non-interest bearing demand deposits		$	56,883		$	43,065			32.1	%	$	55,936		$	49,998
Interest-bearing demand deposits			395,188			67,107			488.9	%		68,204			69,154
Savings accounts			59,250			338,128			-82.5	%		407,911			387,790
Individual retirement accounts			285,635			314,851			-9.3	%		293,354			317,744
Retail certificates of deposit			267,383			208,566			28.2	%		271,554			232,239
Total Retail Deposits			1,064,339			971,717			9.5	%		1,096,959			1,056,925
Wholesale certificates of deposit			448,450			297,988			50.5	%		395,460			189,495
Total deposits			1,512,789			1,269,705			19.1	%		1,492,419			1,246,420

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	ORIENTAL FINANCIAL GROUP Financial Summary (NYSE: OGF)
		AS OF
		30-Sep-08			30-Sep-07			%			30-Jun-08			31-Dec-07
(Dollars in thousands)
Borrowings:
Federal funds purchased and other short term borrowings			41,026			27,246			50.6	%		41,583			27,460
Securities sold under agreements to repurchase			3,770,755			3,809,709			-1.0	%		3,810,752			3,861,411
Advances from FHLB			281,724			348,114			-19.1	%		331,895			331,898
Term notes			5,000			—			100.0	%		—			—
Subordinated capital notes			36,083			36,083			—			36,083			36,083
Total borrowings			4,134,588			4,221,152			-2.1	%		4,220,313			4,256,852
Total interest-bearing liabilities			5,647,377			5,490,857			2.9	%		5,712,732			5,503,272
Securities purchased but not yet received			—			—			—			23,103			111,431
Accrued expenses and other liabilities			25,271			24,537			3.0	%		23,177			25,691
Total liabilities			5,672,648			5,515,394			2.9	%		5,759,012			5,640,394
Preferred Equity			68,000			68,000			—			68,000			68,000
Common Equity:
Common stock			25,738			25,556			0.7	%		25,736			25,557
Additional paid-in capital			212,511			210,006			1.2	%		212,282			210,073
Legal surplus			38,992			39,298			-0.8	%		43,533			40,573
Retained earnings			19,449			35,773			-45.6	%		64,406			45,296
Treasury stock, at cost			(17,142	)		(17,042	)		-0.6	%		(17,136	)		(17,023	)
Accumulated other comprehensive loss			(105,530	)		(19,796	)		-433.1	%		(95,654	)		(13,015	)
Total common equity			174,018			273,795			-36.4	%		233,167			291,461
Stockholders’ equity			242,018			341,795			-29.2	%		301,167			359,461
Total liabilities and stockholders’ equity		$	5,914,666		$	5,857,189			1.0	%	$	6,060,179		$	5,999,855
CAPITAL RATIOS
Leverage Capital Ratio			5.98	%		6.79	%		-11.9	%		6.80	%		6.69	%
Minimum Leverage Capital Ratio Required						4.00	%		4.00	%		4.00	%		4.00	%
Actual Tier 1 Capital		$	359,165		$	385,661			-6.9	%	$	413,767		$	396,309
Minimum Tier 1 Capital Required		$	240,281		$	227,342			5.7	%	$	243,414		$	236,847
Tier 1 Risk-Based Capital Ratio			15.93	%		17.77	%		-10.4	%		17.26	%		18.59	%
Minimum Tier 1 Risk-Based Capital Ratio Required						4.00	%		4.00	%		4.00	%		4.00	%
Actual Tier 1 Risk-Based Capital		$	359,165		$	385,661			-6.9	%	$	413,767		$	396,309
Minimum Tier 1 Risk-Based Capital Required		$	90,168		$	86,817			3.9	%	$	95,867		$	85,292
Total Risk-Based Capital Ratio			16.49	%		18.19	%		-9.3	%		17.76	%		19.06	%
Minimum Total Risk-Based Capital Ratio Required						8.00	%		8.00	%		8.00	%		8.00	%
Actual Total Risk-Based Capital		$	371,631		$	394,716			-5.8	%	$	425,652		$	406,470
Minimum Total Risk-Based Capital Required		$	180,336		$	173,634			3.9	%	$	191,735		$	170,583
Tangible Total Equity to Total Assets			4.06	%		5.80	%		-30.0	%		4.94	%		5.96	%
Tangible Common Equity to Total Assets			2.91	%		4.64	%		-37.3	%		3.81	%		4.82	%
SELECTED FINANCIAL DATA AT PERIOD-END
Common shares outstanding at end of period			24,293			24,119			0.7	%		24,292			24,121
Book value per common share		$	7.16		$	11.35			-36.9	%	$	9.60		$	12.08
Trust Assets Managed		$	1,839,702		$	1,927,409			-4.6	%	$	1,936,804		$	1,962,226
Broker-Dealer Assets Gathered			1,236,760			1,090,255			13.4	%		1,294,010			1,281,168
Total Assets Managed			3,076,462			3,017,664			1.9	%		3,230,814			3,243,394
Assets owned			5,914,666			5,857,189			1.0	%		6,060,179			5,999,855
Total financial assets managed and owned		$	8,991,128		$	8,874,853			1.3	%	$	9,290,993		$	9,243,249
Number of financial centers			23			24			-4.2	%		24			24

8

	ORIENTAL FINANCIAL GROUP Financial Summary (NYSE: OGF)
		QUARTER ENDED												NINE-MONTH PERIOD ENDED
		30-Sep-08			30-Sep-07			%			30-Jun-08			30-Sep-08			30-Sep-07			%
(Dollars in thousands)
Loan Production and Purchases Summary:
Mortgage loans production		$	56,109		$	25,461			120.4	%	$	75,549		$	176,236		$	111,766			57.7	%
Mortgage loans purchased			—			52,563			-100.0	%		482			5,173			101,242			-94.9	%
Total mortgage			56,109			78,024			-28.1	%		76,031			181,409			213,008			-14.8	%
Commercial			10,894			6,454			68.8	%		15,171			41,802			26,987			54.9	%
Consumer			947			2,597			-63.5	%		1,421			3,601			5,731			-37.2	%
Total loan production and purchases		$	67,950		$	87,075			-22.0	%	$	92,623		$	226,812		$	245,726			-7.7	%
CREDIT DATA
Net credit losses (recoveries):
Mortgage		$	648		$	248			161.3	%	$	314		$	1,128		$	1,274			-11.5	%
Commercial			54			248			-78.2	%		141			182			241			-24.5	%
Consumer			667			495			34.7	%		732			1,965			1,510			30.1	%
Total net credit losses		$	1,369		$	991			38.1	%	$	1,187		$	3,275		$	3,025			8.3	%
Net credit losses to average loans outstanding			0.45	%		0.32	%		40.6	%		0.39	%		0.36	%		0.32	%		12.5	%
		AS OF
		30-Sep-08			30-Sep-07			%			30-Jun-08
Allowance for loan losses		$	12,466		$	9,055			37.70	%	$	11,885
Allowance coverage ratios:
Allowance for loan losses to total loans			1.01	%		0.75	%		34.67	%		0.97	%
Allowance for loan losses to non-performing loans			18.16	%		14.72	%		23.40	%		17.27	%
Allowance for loan losses to non-residential non-performing loans			301.99	%		316.28	%		-4.50	%		299.67	%
Non-performing assets summary:
Mortgage		$	64,513		$	58,664			10.00	%	$	64,867
Commercial, mainly real estate			3,308			2,257			46.60	%		3,026
Consumer			820			606			35.30	%		940
Non-performing loans			68,641			61,527			11.60	%		68,833
Foreclosed properties			8,220			4,349			89.00	%		4,906
Non-performing assets		$	76,861		$	65,876			16.70	%	$	73,739
Non-performing loans to total loans			5.57	%		5.10	%		9.20	%		5.60	%
Non-performing loans to total assets			1.16	%		1.05	%		10.50	%		1.14	%
Non-performing assets to total assets			1.30	%		1.12	%		16.10	%		1.22	%
Non-performing assets to total capital			31.76	%		19.27	%		64.80	%		24.48	%

9