Business & Finance
Business and Finance
Business and Finance
Wed, March 9, 2011
Tue, March 8, 2011 Oriental Financial Group Introduces New Logo Reflecting Expansion of Commercial and Retail Banking and Wealth Management
SAN JUAN, Puerto Rico--([ BUSINESS WIRE ])--Oriental Financial Group Inc. (NYSE: OFG) has launched a new logo and updated mission statement. Both are designed to reflect the expansion of Orientala™s commercial banking and lending services, retail branch network and wealth management platform through the Companya™s two principal operating subsidiaries, Oriental Bank and Trust and Oriental Financial Services. The launch follows the successful acquisition and integration last year of certain Eurobank operations, assets and liabilities.
"We want to encourage young people to contribute to the socio-economic development of Puerto Rico"
"Our new logo and updated mission statement are based on the sense of progress that can be achieved through the effective management of financial resources,a said Jos© Rafael Fernndez, Vice Chairman of the Board, President and Chief Executive Officer. aThis is the natural result of Orientala™s growth into one of the strongest banking institutions in Puerto Rico, in terms of capital, infrastructure and customer service."
The new logo retains the color orange from the rising sun in the Companya™s former logo and its origin in the Eastern part of Puerto Rico (Oriental means Eastern in Spanish). It also incorporates a series of spheres rising and increasing in size around the letter O. Each represents a core value or public to which Oriental is committed, such as hard work, clients, shareholders and community. The last sphere, in blue, represents progress and Eurobanka™s clients and staff (Eurobanka™s logo was blue).
The mission statement articulates Orientala™s purpose to make "progress possible for our customers, employees, shareholders and the communities we serve." This, too, is based on Orientala™s tradition of providing expert financial advice and highly personalized service for both retail and commercial clients.
A local advertising campaign will publicize the new logo, Oriental Bank and Trusta™s and Oriental Financial Servicesa™ array of commercial and retail products and services, and the Companya™s unwavering commitment to Puerto Rico.
As part of the effort, the Company has established the Oriental Fund to provide scholarships and grants to low-income, academically gifted students majoring in mathematics, technology or finance. "We want to encourage young people to contribute to the socio-economic development of Puerto Rico," Mr. Fernndez said. The Fund also will award grants to non-profit organizations that provide community-based financial education programs.
About Oriental Financial Group
Oriental Financial Group Inc. is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations, principally through its two subsidiaries, Oriental Bank and Trust and Oriental Financial Services. Now in its 47th year in business, Oriental provides a full range of commercial, consumer and mortgage banking services, as well as financial planning, trust, insurance, investment brokerage and investment banking services, primarily in Puerto Rico, through 30 financial centers. Investor information about Oriental can be found at [ www.orientalfg.com ].
Forward-Looking Statements
The information included in this document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on managementa™s current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in forward-looking statements. Factors that might cause such a difference include, but are not limited to (i) the rate of declining growth in the economy and employment levels, as well as general business and economic conditions; (ii) changes in interest rates, as well as the magnitude of such changes; (iii) the fiscal and monetary policies of the federal government and its agencies; (iv) changes in federal bank regulatory and supervisory policies, including required levels of capital; (v) the relative strength or weakness of the consumer and commercial credit sectors and of the real estate market in Puerto Rico; (vi) the performance of the stock and bond markets; (vii) competition in the financial services industry; (viii) possible legislative, tax or regulatory changes; and (ix) difficulties in combining the operations of any acquired entity. For a discussion of such factors and certain risks and uncertainties to which Oriental is subject, see Orientala™s annual report on Form 10-K for the year ended December 31, 2009, and its quarterly reports on Form 10-Q for the quarters ended March 31, 2010, June 30, 2010, and September 30, 2010, as well as its other filings with the U.S. Securities and Exchange Commission. Other than to the extent required by applicable law, including the requirements of applicable securities laws, Oriental assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.
