UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): ~~December~~February 3126, ~~2009~~2010 (~~December 29~~February 25, ~~2009~~2010)

R&G Financial Corporation

(Exact name of registrant as specified in its charter)

Puerto Rico		001-31381		66-0532217
(State or other jurisdiction of incorporation)		(~~Commission~~CommissionFile ~~File~~ Number)		(I.R.S. Employer Identification No.)

290 Jesús T. Piñero Ave.

Hato Rey, San Juan, Puerto Rico 00918

(Address of principal executive offices and zip code)

(787) 758-2424

(Registrant’s telephone number, including area code)

Not applicable.

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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

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

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

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

Item 52.02 ~~Departure~~Results of ~~Directors~~Operations orand ~~Certain~~Financial ~~Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers~~Condition.

~~(b)~~ On ~~December~~February 2925, ~~2009~~2010, ~~Eduardo McCormack and Enrique Umpierre-Suárez tendered their resignation from the Board of Directors of~~ R&G Financial Corporation (the “Company”) ~~and~~issued its ~~subsidiaries. Prior~~audited toconsolidated ~~their~~financial ~~resignation,~~statements ~~Mr. McCormack~~for ~~and Mr. Umpierre-Suárez served as Directors of~~ the ~~Company~~year ~~since 1996.~~ended ~~Mr.~~December ~~McCormack~~31, ~~and Mr~~2008. ~~Umpierre-Suárez~~ ~~were~~A ~~also~~copy ~~Directors~~ of ~~R-G~~the Company’s ~~Premier~~audited ~~Bank~~consolidated offinancial ~~Puerto~~statements ~~Rico~~for ~~and~~the ~~R&G~~year ~~Mortgage~~ended ~~Corp.~~December 31, ~~each~~2008 ais ~~subsidiary~~attached ofhereto ~~the~~as ~~Company.~~Exhibit Mr99. ~~McCormack~~1 ~~also served as a member of both the Compensation~~ and ~~Ancillary~~ ~~Agreements~~incorporated ~~committees~~by ofreference ~~the Company~~herein. ~~Their decision to resign was not due to any disagreement with the Company.~~

~~In connection~~Item ~~with~~8.01 ~~these~~Other ~~resignations, the Board of Directors of the Company voted to decrease the size of the Board to nine directors~~Events.

Attached as Exhibit 99.3 to this Report and incorporated herein by reference is a discussion of certain risks associated with the Company’s operations.

Item 9.01

Financial Statements and Exhibits.

The following exhibits are being furnished with this Report:


Exhibit 99.1		Consolidated Statements of Financial Condition for the year ended December 31, 2008 of R&G Financial Corporation.

Exhibit 99.2		Report of Crowe Horwath LLP dated February 25, 2010 (included in Exhibit 99.1).

Exhibit 99.3		Risk Factors.

SIGNATURES

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

	~~R&G FINANCIAL CORPORATION~~		R&G FINANCIAL CORPORATION
Date: December 31, 2009	By:	/S/ JUAN AGOSTO ALICEA
Date: February 26, 2010			By:	/s/ Rolando Rodríguez
		Juan Agosto Alicea
				Rolando Rodríguez
		Chairman Board of Directors
				President and Chief Executive Officer

Filing Compare · R&G FINANCIAL CORP