Item 1.01 Entry into a Material Definitive Agreement.
In a press release dated May 29, 2009, filed herewith as Exhibit 99.1 and incorporated by reference herein, W Holding Company, Inc. (the "Company"), the bank holding company of Westernbank Puerto Rico (the "Bank"), announced that on May 28, 2009 the Company received from each of the Federal Deposit Insurance Corporation and the Office of the Commissioner of Financial Institutions of Puerto Rico and the Federal Reserve Bank of New York a Consent Order (the "Consent Order") and a Written Agreement, dated as of May 22, 2009 and May 27, 2009, respectively. A copy of the Consent Order is attached hereto as Exhibit 10.1 and is incorporated herein by reference. Item 8.01 Other Events.
The Company filed a Consolidated Report of Condition and Income on Form FFIEC 041 with the Federal Deposit Insurance Corporation for the period ended March 31, 2009 (the "Call Report"). The Call Report was filed in accordance with FDIC rules and consists of a balance sheet, income statement, changes in equity capital and other supporting schedules with respect to the Bank. The Call Report is publicly available at the FDIC's website located at http://www2.fdic.gov/Call_TFR_Rpts/.
Item 9.01. Financial Statements and Exhibits.

(d) Exhibits Exhibit No. Description 10.1 Consent Order by and between Westernbank Puerto Rico and the Federal Deposit Insurance Corporation 99.1 Press release dated May 29, 2009

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