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<TITLE>ORIENTAL FINANCIAL GROUP INC.</TITLE>
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<DIV align="center" style="font-size: 10pt; margin-top: 12pt">As
filed with the Securities and Exchange Commission on November 30, 2007.</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 0pt"><B>Registration No.&nbsp;333- ______</B>
</DIV>


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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
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<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933<BR>
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<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>ORIENTAL FINANCIAL GROUP INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in its Charter)</DIV>


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    <TD align="center" valign="top">Commonwealth of Puerto Rico
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">660538893</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 12pt">997 San Roberto Street<BR>
San Juan, Puerto Rico 00926<BR>
(Address of Principal Executive Offices)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>ORIENTAL FINANCIAL GROUP INC.<BR>
2007 OMNIBUS PERFORMANCE INCENTIVE PLAN</B></DIV>

<DIV align="center" style="font-size: 10pt">(Full Title of the Plan)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Jos&#233; Rafael Fern&#225;ndez<BR>
President and Chief Executive Officer<BR>
Oriental Financial Group Inc.<BR>
Oriental Center<BR>
Professional Offices Park<BR>
997 San Roberto Street<BR>
San Juan, Puerto Rico 00926<BR>
(787)&nbsp;771-6800<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Name, Address and Telephone Number, including Area Code of Agent for Service)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B></DIV>

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    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="center">Title of Each Class of </TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount to</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed Maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed Maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount of</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">Securities to be Registered</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">be Registered<SUP style="font-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Offering Price per Share<SUP style="font-size: 85%; vertical-align: text-top">2</SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Aggregate Offering Price<SUP style="font-size: 85%; vertical-align: text-top">2</SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Registration Fee</TD>
    <TD width="1%">&nbsp;</TD>
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<TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value $1.00 per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">550,000 shares</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 2px solid #000000">$12.85<SUP style="font-size: 85%; vertical-align: text-top">3</SUP></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 2px solid #000000">$7,067,500</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 2px solid #000000">$216.97<SUP style="font-size: 85%; vertical-align: text-top">4</SUP></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
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    <TD nowrap align="left">1.</TD>
    <TD>&nbsp;</TD>
    <TD>This registration statement also covers an indeterminate number of
shares of common stock, par value $1.00 per share, that may be issued by the
Company from time to time by virtue of stock splits, stock dividends or similar
transactions in accordance with Rule&nbsp;416 under the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">2.</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the registration
fee pursuant to Rules&nbsp;457(c) and 457(h)(1) under the Securities Act.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">3.</TD>
    <TD>&nbsp;</TD>
    <TD>Based on the average of the high and low prices of the Company&#146;s
common stock reported on the New York Stock Exchange on
November&nbsp;26, 2007.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">4.</TD>
    <TD>&nbsp;</TD>
    <TD>Total filing fee being paid.</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPLANATORY NOTE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares of common stock of Oriental Financial Group Inc. (the &#147;Company&#148;), par value $1.00
per share, to be offered and sold to directors, officers and employees of the Company or any
subsidiary thereof under the Oriental Financial Group Inc. 2007 Omnibus Performance Incentive Plan
are being registered by the Company on this registration statement.
</DIV>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE PROSPECTUS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Part&nbsp;I of Form S-8, the documents containing the information specified by Part&nbsp;I
of Form S-8 will be sent or given to employees as specified by Rule&nbsp;428(b)(1) under the Securities
Act of 1933, as amended (the &#147;Securities Act&#148;). Such documents are not required to be and are not
filed with the Securities and Exchange Commission (the &#147;SEC&#148;) either as part of this registration
statement or as prospectuses or prospectus supplements pursuant to Rule&nbsp;424 under the Securities
Act. These documents and the documents incorporated by reference in this registration statement
pursuant to Item&nbsp;3 of Part&nbsp;II of Form S-8, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act.
</DIV>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION NOT REQUIRED IN THE PROSPECTUS</B>

</DIV>
<!-- link2 "ITEM 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby incorporates by reference the following documents:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;The Company&#146;s annual report on Form 10-K for the fiscal year ended December&nbsp;31, 2006, filed
with the SEC on March&nbsp;28, 2007;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;All other reports filed by the Company pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), since the end of the fiscal year covered by
the annual report referred to above, including the Company&#146;s quarterly reports on Form 10-Q for the
quarters ended March&nbsp;31, June&nbsp;30, and September 30, 2007, filed with the
SEC on May&nbsp;10, August&nbsp;8, and November 9, 2007,
respectively, and the Company&#146;s current reports on Form 8-K filed with the SEC on February&nbsp;22,
March&nbsp;6, March&nbsp;28, April&nbsp;4, May&nbsp;3, May&nbsp;15,
June&nbsp;4, July&nbsp;26, July&nbsp;31, October&nbsp;17,
October&nbsp;18, October&nbsp;30, November&nbsp;5, and
November&nbsp;6, 2007; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;The description of the Company&#146;s common stock contained in its registration statement on
Form 8-B filed with the SEC on January&nbsp;10, 1997.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14
and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates
that all securities offered have been sold or which deregisters all securities then remaining
unsold shall be deemed to be incorporated by reference into this registration statement and to be a
part hereof from the date of filing of such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall
be deemed to be modified or superseded for purposes of this registration statement to the
extent that a
</DIV>

</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">statement contained herein or in any other subsequently filed document which also is
or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this registration statement.
</DIV>
<!-- link2 "ITEM 4. DESCRIPTION OF SECURITIES" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 4. DESCRIPTION OF SECURITIES.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1.02(B)(6) of the Puerto Rico General Corporation Law, as amended (the &#147;PR-GCL&#148;),
provides that a corporation may include in its certificate of incorporation a provision eliminating
or limiting the personal liability of members of its board of directors or governing body for
breach of a director&#146;s fiduciary duties. However, no such provision may eliminate or limit the
liability of a director for breaching his duty of loyalty, failing to act in good faith, engaging
in intentional misconduct or knowingly violating a law, paying an unlawful dividend or approving an
unlawful stock repurchase, or obtaining an improper personal benefit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;NINTH of the Company&#146;s certificate of incorporation, as amended, provides that the
personal liability of the directors and officers of the Company for monetary damages shall be
eliminated to the fullest extent permitted by the PR-GCL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.08 of the PR-GCL authorizes a Puerto Rico corporation to indemnify its directors,
officers, employees and agents (if they acted in good faith and in a manner they reasonably
believed to be in, or not opposed to, the best interests of the corporation, and with respect to
any criminal action or proceeding, had no reasonable cause to believe their conduct was unlawful)
and to purchase and maintain insurance on behalf of such persons against liabilities arising out of
pending or threatened actions, suits or proceedings to which such persons are or may be made
parties by reason of being directors, officers, employees or agents of the corporation. Such
rights of indemnification are not exclusive of any other rights to which such persons may be
entitled under any by-law, agreement, vote of shareholders or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1 of article VII of the Company&#146;s by-laws provides that any director, officer,
employee or agent of the Company shall be indemnified to the fullest extent authorized by the
PR-GCL against expenses and certain other liabilities arising out of legal action brought or
threatened against him for his conduct on behalf of the Company, provided that such person acted
in good faith and in a manner that he reasonably believed was in, or not opposed to, the Company&#146;s
best interests. Indemnification by the Company is available in a criminal action only if such
person had no reasonable cause to believe that his conduct was unlawful.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4 of article VII of the Company&#146;s by-laws provides that the Company may
maintain insurance covering certain liabilities of directors, officers, employees and agents of the
Company, whether or not the Company would have the power or would be required to indemnify them
against such liabilities.
</DIV>
</DIV>
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<!-- link2 "ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "ITEM 8. EXHIBITS" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 8. EXHIBITS.</B>
</DIV>

<DIV align="center">
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    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.0
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Oriental Financial Group Inc. 2007 Omnibus Performance
Incentive Plan (incorporated by reference from the Company&#146;s
definitive proxy statement filed with the SEC on May&nbsp;23,
2007).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.0*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of McConnell Vald&#233;s
LLC as to the legality of the
securities registered hereunder.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Qualified Stock Option Award and Agreement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Award and Agreement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McConnell Vald&#233;s LLC
(included in the opinion of counsel filed as Exhibit No.&nbsp;5.0).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.0*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of attorney (included in page 5 hereof).</TD>
</TR>
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<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>


<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
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<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Filed herewith.</TD>
</TR>

</TABLE>
</DIV>

<!-- link2 "ITEM 9. UNDERTAKINGS" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9. UNDERTAKINGS.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby undertakes:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration
statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provided, however, that paragraphs (i)&nbsp;and (ii)&nbsp;above do not apply if the registration
statement is on Form S-8 and the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the SEC by the
Company pursuant to Section&nbsp;13 or Section 15(d) of the Exchange Act that are incorporated by
reference in the registration statement.
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->-5-<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered herein, and the offering of such securities, at that time shall be deemed to be
the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby undertakes that for purposes of determining any liability under the
Securities Act, each filing of the Company&#146;s annual report pursuant to Section 13(a) or 15(d) of
the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
registration statement shall be deemed to be a new registration statement relating to the
securities offered herein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of the Company pursuant to the foregoing provisions,
or otherwise, the Company has been advised that in the opinion of the SEC such indemnification is
against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other than the payment by the
Company of expenses incurred or paid by a director, officer or controlling person of the Company in
the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by the Company is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.
</DIV>
<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>The Registrant</I>. Pursuant to the requirements of the Securities Act, the Company certifies
that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the Municipality of San Juan, Commonwealth of Puerto Rico, on the
28<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day
of November, 2007.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>ORIENTAL FINANCIAL GROUP INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="center">/s/ Jos&#233; Rafael Fern&#225;ndez
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center">Jos&#233; Rafael Fern&#225;ndez&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby constitutes and appoints Jos&#233; Rafael
Fern&#225;ndez, Jos&#233; J. Gil de Lamadrid, and Norberto Gonz&#225;lez, each acting singly, his or her true and
lawful attorneys-in-fact and agents, each with full power of substitution and re-substitution for
him or her and in his or her name, place and stead in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this registration statement, and any
registration statement relating to the same
offering as this registration statement that is to be effective upon filing pursuant to Rule
462(a) under the
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->-6-<!-- /Folio -->


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities Act, and to file the same, with all exhibits thereto, and other
documents in connection therewith, with the SEC, granting unto said attorneys-in-fact and agents
full power and authority to do and perform each and every act and thing requisite and necessary to
be done in and about the premises, as fully to all intents and purposes as he or she might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their
substitute or substitutes, may lawfully do or cause to be done by virtue thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>SIGNATURE</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>TITLE</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>DATE</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Jos&#233; J. Gil de Lamadrid
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Jos&#233; J. Gil de Lamadrid</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Chairman <BR>

Board of Directors
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Jos&#233; Rafael Fern&#225;ndez
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Jos&#233; Rafael Fern&#225;ndez</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director, President, and <BR>

Chief Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Norberto Gonz&#225;lez
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Norberto Gonz&#225;lez</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Executive Vice President and <BR>

Chief Financial Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Juan C. Aguayo
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Juan C. Aguayo</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/Pablo I. Altieri
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Pablo I. Altieri</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/Maricarmen Aponte
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Maricarmen Aponte</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/Francisco Arriv&#237;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Francisco Arriv&#237;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Nelson Garc&#237;a
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Nelson Garc&#237;a</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Pedro Morazzani
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Pedro Morazzani</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 28, 2007</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->-7-<!-- /Folio -->

<!-- link1 "INDEX OF EXHIBITS" -->
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>INDEX OF EXHIBITS</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD  align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.0
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Oriental Financial Group Inc. 2007 Omnibus Performance
Incentive Plan (incorporated by reference from the Company&#146;s
definitive proxy statement filed with the SEC on May&nbsp;23,
2007).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD  align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD  align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.0*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of McConnell Vald&#233;s
LLC as to the legality of the
securities registered hereunder.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD  align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Qualified Stock Option Award and Agreement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD  align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Award and Agreement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McConnell Vald&#233;s LLC
(included in the opinion of counsel filed as Exhibit No.&nbsp;5.0).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD  align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD  align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD  align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.0*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of attorney (included in page 5 hereof).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Filed herewith.</TD>
</TR>

</TABLE>
</DIV>



</DIV>



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ORIENTAL FINANCIAL GROUP INC.
As
filed with the Securities and Exchange Commission on November 30, 2007.
Registration No. 333- ______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ORIENTAL FINANCIAL GROUP INC.
(Exact Name of Registrant as Specified in its Charter)
Commonwealth of Puerto Rico
660538893
(State or Other Jurisdiction of Incorporation)
(I.R.S. Employer Identification No.)
997 San Roberto Street
San Juan, Puerto Rico 00926
(Address of Principal Executive Offices)
ORIENTAL FINANCIAL GROUP INC.
2007 OMNIBUS PERFORMANCE INCENTIVE PLAN
(Full Title of the Plan)
José Rafael Fernández
President and Chief Executive Officer
Oriental Financial Group Inc.
Oriental Center
Professional Offices Park
997 San Roberto Street
San Juan, Puerto Rico 00926
(787) 771-6800
(Name, Address and Telephone Number, including Area Code of Agent for Service)
CALCULATION OF REGISTRATION FEE
Title of Each Class of
Amount to
Proposed Maximum
Proposed Maximum
Amount of
Securities to be Registered
be Registered
1
Offering Price per Share
2
Aggregate Offering Price
2
Registration Fee
Common Stock, par value $1.00 per share
550,000 shares
$12.85
3
$7,067,500
$216.97
4
1.
This registration statement also covers an indeterminate number of
shares of common stock, par value $1.00 per share, that may be issued by the
Company from time to time by virtue of stock splits, stock dividends or similar
transactions in accordance with Rule 416 under the Securities Act of 1933, as
amended (the "Securities Act").
2.
Estimated solely for the purpose of calculating the registration
fee pursuant to Rules 457(c) and 457(h)(1) under the Securities Act.
3.
Based on the average of the high and low prices of the Company's
common stock reported on the New York Stock Exchange on
November 26, 2007.
4.
Total filing fee being paid.
-2-
EXPLANATORY NOTE
The shares of common stock of Oriental Financial Group Inc. (the "Company"), par value $1.00
per share, to be offered and sold to directors, officers and employees of the Company or any
subsidiary thereof under the Oriental Financial Group Inc. 2007 Omnibus Performance Incentive Plan
are being registered by the Company on this registration statement.
PART I
INFORMATION REQUIRED IN THE PROSPECTUS
Pursuant to Part I of Form S-8, the documents containing the information specified by Part I
of Form S-8 will be sent or given to employees as specified by Rule 428(b)(1) under the Securities
Act of 1933, as amended (the "Securities Act"). Such documents are not required to be and are not
filed with the Securities and Exchange Commission (the "SEC") either as part of this registration
statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities
Act. These documents and the documents incorporated by reference in this registration statement
pursuant to Item 3 of Part II of Form S-8, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
ITEM 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE.
The Company hereby incorporates by reference the following documents:
1. The Company's annual report on Form 10-K for the fiscal year ended December 31, 2006, filed
with the SEC on March 28, 2007;
2. All other reports filed by the Company pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), since the end of the fiscal year covered by
the annual report referred to above, including the Company's quarterly reports on Form 10-Q for the
quarters ended March 31, June 30, and September 30, 2007, filed with the
SEC on May 10, August 8, and November 9, 2007,
respectively, and the Company's current reports on Form 8-K filed with the SEC on February 22,
March 6, March 28, April 4, May 3, May 15,
June 4, July 26, July 31, October 17,
October 18, October 30, November 5, and
November 6, 2007; and
3. The description of the Company's common stock contained in its registration statement on
Form 8-B filed with the SEC on January 10, 1997.
All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14
and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates
that all securities offered have been sold or which deregisters all securities then remaining
unsold shall be deemed to be incorporated by reference into this registration statement and to be a
part hereof from the date of filing of such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall
be deemed to be modified or superseded for purposes of this registration statement to the
extent that a
-3-
statement contained herein or in any other subsequently filed document which also is
or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this registration statement.
ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
Section 1.02(B)(6) of the Puerto Rico General Corporation Law, as amended (the "PR-GCL"),
provides that a corporation may include in its certificate of incorporation a provision eliminating
or limiting the personal liability of members of its board of directors or governing body for
breach of a director's fiduciary duties. However, no such provision may eliminate or limit the
liability of a director for breaching his duty of loyalty, failing to act in good faith, engaging
in intentional misconduct or knowingly violating a law, paying an unlawful dividend or approving an
unlawful stock repurchase, or obtaining an improper personal benefit.
Article NINTH of the Company's certificate of incorporation, as amended, provides that the
personal liability of the directors and officers of the Company for monetary damages shall be
eliminated to the fullest extent permitted by the PR-GCL.
Section 4.08 of the PR-GCL authorizes a Puerto Rico corporation to indemnify its directors,
officers, employees and agents (if they acted in good faith and in a manner they reasonably
believed to be in, or not opposed to, the best interests of the corporation, and with respect to
any criminal action or proceeding, had no reasonable cause to believe their conduct was unlawful)
and to purchase and maintain insurance on behalf of such persons against liabilities arising out of
pending or threatened actions, suits or proceedings to which such persons are or may be made
parties by reason of being directors, officers, employees or agents of the corporation. Such
rights of indemnification are not exclusive of any other rights to which such persons may be
entitled under any by-law, agreement, vote of shareholders or otherwise.
Section 1 of article VII of the Company's by-laws provides that any director, officer,
employee or agent of the Company shall be indemnified to the fullest extent authorized by the
PR-GCL against expenses and certain other liabilities arising out of legal action brought or
threatened against him for his conduct on behalf of the Company, provided that such person acted
in good faith and in a manner that he reasonably believed was in, or not opposed to, the Company's
best interests. Indemnification by the Company is available in a criminal action only if such
person had no reasonable cause to believe that his conduct was unlawful.
Section 4 of article VII of the Company's by-laws provides that the Company may
maintain insurance covering certain liabilities of directors, officers, employees and agents of the
Company, whether or not the Company would have the power or would be required to indemnify them
against such liabilities.
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ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS.
Exhibit No.
Description
4.0
Oriental Financial Group Inc. 2007 Omnibus Performance
Incentive Plan (incorporated by reference from the Company's
definitive proxy statement filed with the SEC on May 23,
2007).
5.0*
Opinion of McConnell Valdés
LLC as to the legality of the
securities registered hereunder.
10.1*
Form of Qualified Stock Option Award and Agreement.
10.2*
Form of Restricted Stock Award and Agreement.
23.1*
Consent of McConnell Valdés LLC
(included in the opinion of counsel filed as Exhibit No. 5.0).
23.2*
Consent of KPMG LLP.
23.3*
Consent of Deloitte & Touche LLP.
24.0*
Power of attorney (included in page 5 hereof).
*
Filed herewith.
ITEM 9. UNDERTAKINGS.
The Company hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act.
(ii) To reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration
statement.
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement.
Provided, however, that paragraphs (i) and (ii) above do not apply if the registration
statement is on Form S-8 and the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or furnished to the SEC by the
Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by
reference in the registration statement.
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(2) That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered herein, and the offering of such securities, at that time shall be deemed to be
the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
The Company hereby undertakes that for purposes of determining any liability under the
Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or 15(d) of
the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
registration statement shall be deemed to be a new registration statement relating to the
securities offered herein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of the Company pursuant to the foregoing provisions,
or otherwise, the Company has been advised that in the opinion of the SEC such indemnification is
against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other than the payment by the
Company of expenses incurred or paid by a director, officer or controlling person of the Company in
the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by the Company is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.
SIGNATURES
The Registrant
. Pursuant to the requirements of the Securities Act, the Company certifies
that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the Municipality of San Juan, Commonwealth of Puerto Rico, on the
28
th
day
of November, 2007.
ORIENTAL FINANCIAL GROUP INC.
By:
/s/ José Rafael Fernández
José Rafael Fernández
President and Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below hereby constitutes and appoints José Rafael
Fernández, José J. Gil de Lamadrid, and Norberto González, each acting singly, his or her true and
lawful attorneys-in-fact and agents, each with full power of substitution and re-substitution for
him or her and in his or her name, place and stead in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this registration statement, and any
registration statement relating to the same
offering as this registration statement that is to be effective upon filing pursuant to Rule
462(a) under the
-6-
Securities Act, and to file the same, with all exhibits thereto, and other
documents in connection therewith, with the SEC, granting unto said attorneys-in-fact and agents
full power and authority to do and perform each and every act and thing requisite and necessary to
be done in and about the premises, as fully to all intents and purposes as he or she might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their
substitute or substitutes, may lawfully do or cause to be done by virtue thereof.
Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated:
SIGNATURE
TITLE
DATE
/s/ José J. Gil de Lamadrid
José J. Gil de Lamadrid
Chairman
Board of Directors
November 28, 2007
/s/ José Rafael Fernández
José Rafael Fernández
Director, President, and
Chief Executive Officer
November 28, 2007
/s/ Norberto González
Norberto González
Executive Vice President and
Chief Financial Officer
November 28, 2007
/s/ Juan C. Aguayo
Juan C. Aguayo
Director
November 28, 2007
/s/Pablo I. Altieri
Pablo I. Altieri
Director
November 28, 2007
/s/Maricarmen Aponte
Maricarmen Aponte
Director
November 28, 2007
/s/Francisco Arriví
Francisco Arriví
Director
November 28, 2007
/s/ Nelson García
Nelson García
Director
November 28, 2007
/s/ Pedro Morazzani
Pedro Morazzani
Director
November 28, 2007
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INDEX OF EXHIBITS
Exhibit No.
Description
4.0
Oriental Financial Group Inc. 2007 Omnibus Performance
Incentive Plan (incorporated by reference from the Company's
definitive proxy statement filed with the SEC on May 23,
2007).
5.0*
Opinion of McConnell Valdés
LLC as to the legality of the
securities registered hereunder.
10.1*
Form of Qualified Stock Option Award and Agreement.
10.2*
Form of Restricted Stock Award and Agreement.
23.1*
Consent of McConnell Valdés LLC
(included in the opinion of counsel filed as Exhibit No. 5.0).
23.2*
Consent of KPMG LLP.
23.3*
Consent of Deloitte & Touche LLP.
24.0*
Power of attorney (included in page 5 hereof).
*
Filed herewith.