R & G Financial Corporation

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R & G Financial Corporation

Type	Public (NYSE: RGF)
Founded	San Juan, Puerto Rico
Headquarters	San Juan, Puerto Rico
Key people	Victor J. Galán, Chairman & CEO
Industry	Finance and Insurance
Products	Banking Checking Accounts Insurance Stock Brokerage Investment Bank Asset-Based Lending Consumer finance
Revenue	US$ 684.80 million (2004)^[1]
Net income	US$ 160.21 million (2004)^[1]
Employees	2,404 (2005)^[1]
Website	www.rgonline.com

R & G Financial Corporation headquarters in Hato Rey, Puerto Rico.

Front view of the R & G Financial Corporation headquarters.

R & G Financial Corporation, more commonly known as RG Financial or R-G Financial, is a financial holding company located in San Juan, Puerto Rico which offers a full range of financial services in Puerto Rico and the State of Florida through its wholly owned subsidiaries. Its main subsidiaries are RG Premier Bank, a business and consumer financial services company offering banking services, trust and brokerage services, and various types of loans, and RG Mortgage, one of the largest mortgage lenders in the island. Its headquarters are located at 290 Jesus T. Pinero Avenue in Hato Rey, San Juan.

RG Financial Corp’s chief assets and sources of income are its commercial loans (which mainly consist of commercial real estate loans and construction loans), consumer loans (which mainly consist of auto loans, personal loans and credit card loans), and residential mortgage loans. RG Financial offers banking services through a network of 66 branches (2005) between two of its subsidiaries, the largest being RG Premier Bank in Puerto Rico and the second being RG Crown Bank in the Orlando, Tampa, and St. Petersburg cities of Florida.

In an effort to compete with larger banks within Puerto Rico and Florida, RG Financial has acquired various banking and lending institutions in order to expand to new markets and improve its services in existing ones. On June 29, 1993, it acquired Caribbean Federal Savings Bank of Puerto Rico, followed by the Fajardo Federal Savings Bank on August 5, 1998, then Continental Capital Corp. on October 7, 1999, and finally Crown Group, Inc. on June 7, 2002. Additionally, RG Financial has acquired various other assets and rights from other financial companies, such as 18 bank branches from Wachovia Corporation in 2004, and mortgage servicing rights from Banco Santander Central Hispano in 1998.