<HTML>
<HEAD>
<TITLE>Doral Financial Corporation</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2">As filed with the Securities and
Exchange Commission on October&nbsp;17, 2002</FONT>

<div align="right"><FONT size="2">Registration No.&nbsp;333-</FONT></div>

<P align="center"><FONT size="2"><B>SECURITIES AND EXCHANGE COMMISSION</B><BR>
WASHINGTON, D.C. 20549</FONT>

<P>
<HR width="26%" align="center" size="1" noshade>
<P>


<P align="center"><FONT size="2"><B>FORM S-8</B><BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</FONT>

<P>
<HR width="26%" align="center" size="1" noshade>
<P>


<P align="center"><FONT size="2"><B>DORAL FINANCIAL CORPORATION<BR>
(Exact name of Registrant as specified in its charter)</B></FONT>

<P>
<HR width="26%" align="center" size="1" noshade>
<P>


<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Commonwealth of Puerto Rico<BR>
(State or other jurisdiction<BR>
of incorporation or organization)</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>66-0312162<BR>
(I.R.S. Employer<BR>
Identification No.)</B></FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2"><B>1451 Franklin D. Roosevelt Avenue<BR>
San Juan, Puerto Rico 00920-2717<BR>
(787)&nbsp;474-6700<BR>
(Address, including zip code, and telephone number,<BR>
including area code, of Registrant&#146;s principal executive offices)</B></FONT>

<P>
<HR width="26%" align="center" size="1" noshade>
<P>


<P align="center"><FONT size="2"><B>1997 Employee Stock Option Plan<BR>
(Full title of the plan)</B></FONT>

<P align="center"><FONT size="2"><B>Salom&#243;n Levis<BR>
Chief Executive Officer<BR>
Doral Financial Corporation<BR>
1451 Franklin D. Roosevelt Avenue<BR>
San Juan, Puerto Rico 00920<BR>
(787)&nbsp;474-6709<BR>
(Name, address, including zip code, and telephone number,<BR>
including area code, of agent for service)</B></FONT>

<P>
<HR width="26%" align="center" size="1" noshade>
<P>


<P align="center"><FONT size="2"><B>Copies to:<BR>
Ignacio Alvarez<BR>
Pietrantoni M&#233;ndez &#038; Alvarez LLP<BR>
Suite&nbsp;1901, Banco Popular Center<BR>
209 Mu&#241;oz Rivera Avenue<BR>
San Juan, Puerto Rico 00918</B></FONT>

<P>
<HR width="26%" align="center" size="1" noshade>
<P>


<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="38%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="16%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="16%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Title of securities to</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>offering price per</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>aggregate</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>be registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>

<TD nowrap align="center" colspan="3"><FONT size="1"><B>registered
<sup>1</sup></B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>unit
<sup>2</sup></B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>

<TD nowrap align="center" colspan="3"><FONT size="1"><B>offering
price<sup>(1)</sup></B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>registration fee</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Common Stock, par
value ($1.00 per
share)</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" align="center"><FONT size="2">1,500,000 shares</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">27.065</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">40,597,500</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">3,734.97</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="3%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%"><FONT size="2"><sup>1</sup></FONT></TD>
        <TD width="96%"><FONT size="2">This registration statement also covers an indeterminate number of shares of
common stock which may be issued by the registrant from time to time by virtue of
stock splits, stock dividends or similar transactions involving the
reclassification of the Registrant&#146;s common stock.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="3%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%"><FONT size="2"><sup>2</sup></FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee pursuant
to Rule&nbsp;457(h) on the basis of the average of the high and low sales price per
share of the Common Stock on October&nbsp;16, 2002, as reported by the National
Association of Securities Dealers Automated Quotation National Market
System.</FONT></TD>
</TR>
</TABLE>
<!-- PAGEBREAK -->
<P><HR noshade><P>




<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000"> INCORPORATION OF FORM S-8 REGISTRATION STATEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001"> PART II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002"> SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003"> POWER OF ATTORNEY</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78695exv5.htm">EX-5 OPINION REGARDING LEGALITY AND CONSENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78695exv23w2.htm">EX-23.2 CONSENT OF PRICEWATERHOUSECOOPERS LLP</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 " INCORPORATION OF FORM S-8 REGISTRATION STATEMENT" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>INCORPORATION OF FORM S-8 REGISTRATION STATEMENT</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement on Form&nbsp;S-8 is filed solely
for the purposes of registering additional shares of common stock issuable under our 1997
Employee Stock Option Plan (the &#147;Plan&#148;). We previously filed with the
Securities and Exchange Commission (the &#147;Commission&#148;) a Registration Statement
on Form&nbsp;S-8 on July&nbsp;15, 1997 (File No.&nbsp;333-31283) in order to register shares
of common stock issuable under the Plan. The contents of said earlier
Registration Statement, as such contents have been modified by documents
subsequently filed by us pursuant to Sections&nbsp;13(a), 13(c), 14 or 15(d) of the
Securities and Exchange Act of 1934 are incorporated herein by reference.
</FONT>
<!-- link1 " PART II" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits</B>.</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="10%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="77%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Opinion regarding legality and consent of Pietrantoni
M&#233;ndez &#038; Alvarez LLP</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of
Pietrantoni M&#233;ndez &#038; Alvarez LLP (included as part
of Exhibit&nbsp;5 above)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of PricewaterhouseCoopers LLP</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Powers of Attorney (included as part of the Signature
Page of this Registration Statement)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 " SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;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 16th day of October, 2002.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="60%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="36%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="2" align="left" valign="top"><FONT size="2">
<B>DORAL FINANCIAL CORPORATION</B></FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD valign="top"><FONT size="2">By:</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">/s/ Salom&#243;n Levis</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><HR size="1" noshade><FONT size="2">
Salom&#243;n Levis<br>
Chairman of the Board<br>
and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
</CENTER>
<!-- link1 " POWER OF ATTORNEY" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby constitutes and appoints
Salom&#243;n Levis, Zoila Levis, Richard F. Bonini and Mario S. Levis and each of
them, each with full power to act without the other, his true and lawful
attorneys-in-fact and agents, each with full power of substitution and
resubstitution, for him and in his 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&nbsp;462(b) under the Securities Act of 1933,
and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto each of 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 might or
could do in person, hereby ratifying and confirming all that each of said
attorneys-in-fact and agents, or his substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated:
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="34%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="2"><B>Signature</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="2"><B>Title</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="2"><B>Date</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<tr>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</tr>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Salom&#243;n Levis<BR>
<HR size="1" noshade>
Salom&#243;n Levis</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Chairman of the Board and<BR>
Chief Executive Officer
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Richard F. Bonini<BR>
<HR size="1" noshade>
Richard F. Bonini</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Senior Executive Vice President,<BR>
Chief Financial Officer<BR>
and Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Ricardo Mel&#233;ndez<BR>
<HR size="1" noshade>
Ricardo Mel&#233;ndez</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Executive Vice President and Principal<BR>
Accounting Officer
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ A. Brean Murray<BR>
<HR size="1" noshade>
A. Brean Murray</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Edgar M. Cullman, Jr.<BR>
<HR size="1" noshade>
Edgar M. Cullman, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ John L. Ernst<BR>
<HR size="1" noshade>
John L. Ernst</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Zoila Levis<BR>
<HR size="1" noshade>
Zoila Levis</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Harold D. Vicente<BR>
<HR size="1" noshade>
Harold D. Vicente</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Efraim Kier<BR>
<HR size="1" noshade>
Efraim Kier</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">October&nbsp;16, 2002</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;</FONT>
</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "g78695sv8.htm", "description": "DORAL FINANCIAL CORPORATION", "secsgml_size_bytes": 25275}]
{"company-data": {"conformed-name": "DORAL FINANCIAL CORP", "cik": "0000840889", "assigned-sic": "6162", "irs-number": "660312162", "state-of-incorporation": "PR", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-100601", "film-number": "02791631"}, "business-address": {"street1": "1451 FRANKLIN D ROOSEVELT AVENUE", "city": "SAN JUAN", "state": "PR", "zip": "00920-2717", "phone": "787-474-6700"}, "mail-address": {"street1": "1451 FRANKLIN D ROOSEVELT AVE", "street2": "AVENUE F D ROOSEVELT 1159", "city": "SAN JUAN", "state": "PR", "zip": "00920-2717"}, "former-company": {"former-conformed-name": "FIRST FINANCIAL CARIBBEAN CORP", "date-changed": "19920703"}}
Doral Financial Corporation
Table of Contents
As filed with the Securities and
Exchange Commission on October 17, 2002
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
DORAL FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
Commonwealth of Puerto Rico
(State or other jurisdiction
of incorporation or organization)
66-0312162
(I.R.S. Employer
Identification No.)
1451 Franklin D. Roosevelt Avenue
San Juan, Puerto Rico 00920-2717
(787) 474-6700
(Address, including zip code, and telephone number,
including area code, of Registrant's principal executive offices)
1997 Employee Stock Option Plan
(Full title of the plan)
Salomón Levis
Chief Executive Officer
Doral Financial Corporation
1451 Franklin D. Roosevelt Avenue
San Juan, Puerto Rico 00920
(787) 474-6709
(Name, address, including zip code, and telephone number,
including area code, of agent for service)
Copies to:
Ignacio Alvarez
Pietrantoni Méndez & Alvarez LLP
Suite 1901, Banco Popular Center
209 Muñoz Rivera Avenue
San Juan, Puerto Rico 00918
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities to
Amount to be
offering price per
aggregate
Amount of
be registered
registered
1
unit
2
offering
price
(1)
registration fee
Common Stock, par
value ($1.00 per
share)
1,500,000 shares
$
27.065
$
40,597,500
$
3,734.97
1
This registration statement also covers an indeterminate number of shares of
common stock which may be issued by the registrant from time to time by virtue of
stock splits, stock dividends or similar transactions involving the
reclassification of the Registrant's common stock.
2
Estimated solely for the purpose of calculating the registration fee pursuant
to Rule 457(h) on the basis of the average of the high and low sales price per
share of the Common Stock on October 16, 2002, as reported by the National
Association of Securities Dealers Automated Quotation National Market
System.
TABLE OF CONTENTS
INCORPORATION OF FORM S-8 REGISTRATION STATEMENT
PART II
SIGNATURES
POWER OF ATTORNEY
EX-5 OPINION REGARDING LEGALITY AND CONSENT
EX-23.2 CONSENT OF PRICEWATERHOUSECOOPERS LLP
Table of Contents
INCORPORATION OF FORM S-8 REGISTRATION STATEMENT
This Registration Statement on Form S-8 is filed solely
for the purposes of registering additional shares of common stock issuable under our 1997
Employee Stock Option Plan (the "Plan"). We previously filed with the
Securities and Exchange Commission (the "Commission") a Registration Statement
on Form S-8 on July 15, 1997 (File No. 333-31283) in order to register shares
of common stock issuable under the Plan. The contents of said earlier
Registration Statement, as such contents have been modified by documents
subsequently filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the
Securities and Exchange Act of 1934 are incorporated herein by reference.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8. Exhibits
.
Exhibit
Number
Description
5
—
Opinion regarding legality and consent of Pietrantoni
Méndez & Alvarez LLP
23.1
—
Consent of
Pietrantoni Méndez & Alvarez LLP (included as part
of Exhibit 5 above)
23.2
—
Consent of PricewaterhouseCoopers LLP
24.1
—
Powers of Attorney (included as part of the Signature
Page of this Registration Statement)
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
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 16th day of October, 2002.
DORAL FINANCIAL CORPORATION
By:
/s/ Salomón Levis
Salomón Levis
Chairman of the Board
and Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below hereby constitutes and appoints
Salomón Levis, Zoila Levis, Richard F. Bonini and Mario S. Levis and each of
them, each with full power to act without the other, his true and lawful
attorneys-in-fact and agents, each with full power of substitution and
resubstitution, for him and in his 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(b) under the Securities Act of 1933,
and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto each of 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 might or
could do in person, hereby ratifying and confirming all that each of said
attorneys-in-fact and agents, or his substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated:
Signature
Title
Date
/s/ Salomón Levis
Salomón Levis
Chairman of the Board and
Chief Executive Officer
October 16, 2002
/s/ Richard F. Bonini
Richard F. Bonini
Senior Executive Vice President,
Chief Financial Officer
and Director
October 16, 2002
/s/ Ricardo Meléndez
Ricardo Meléndez
Executive Vice President and Principal
Accounting Officer
October 16, 2002
/s/ A. Brean Murray
A. Brean Murray
Director
October 16, 2002
/s/ Edgar M. Cullman, Jr.
Edgar M. Cullman, Jr.
Director
October 16, 2002
/s/ John L. Ernst
John L. Ernst
Director
October 16, 2002
/s/ Zoila Levis
Zoila Levis
Director
October 16, 2002
/s/ Harold D. Vicente
Harold D. Vicente
Director
October 16, 2002
/s/ Efraim Kier
Efraim Kier
Director
October 16, 2002