Company Information

Acquisition of Bangko Carrascal, Inc.

Bangko Sentral ng Pilipinas (BSP) approved the acquisition of Bangko Carrascal, Inc. by Producers Bank on 31 October 2019 and formally took over on 21 November 2019. Bangko Carrascal has two branches located along Arreza cor. Cervantes Sts., Embarcadero, Carrascal and along Capital Road, Telaje, Tandag City in Surigao del Sur.

Acquisition of Philippine Bank of Communications (PBCom) Rural Bank

Producers Bank acquired Philippine Bank of Communications (PBCom) Rural Bank on 29 July 2019 and formally took over on 01 August 2019. PBCom Rural Bank has seventeen (17) regular branches and nine (9) branch lite units. Its corporate center is located in 083 Rizal Ave., cor. Calibo St., Dipolog City, Zamboanga Del Norte.

Acquisition of Peoples Bank of Caraga, Inc.

Producers Bank acquired Peoples Bank of Caraga, Inc. and formally took over its management on 10 July 2019. It has twelve (12) regular branches and twenty one (21) branch lite units in CARAGA Region. Its corporate center is located in National Highway, Purok 4, Brgy. 5, San Francisco, Agusan del Sur.

Acquisition of Rural Bank of San Quintin (Pangasinan), Inc.

Producers Bank acquired Rural Bank of San Quintin (Pangasinan), Inc. and formally took over its management on 19 February 2019. It is located along Figueroa St., Poblacion, Zone II, San Quintin, Pangasinan.

Acquisition of Rural Bank of Sibalom (Antique), Inc.

Producers Bank acquired Rural Bank of Sibalom (Antique), Inc. and immediately took over its management on 06 August 2018. RB Sibalom is a single unit bank located at Venegas St., Sibalom, Antique.

Acquisition of Rural Bank of Barotac Nuevo, Inc.

Producers Bank acquired Rural Bank of Barotac Nuevo and immediately took over its management on 06 August 2019. RB Barotac Nuevo is a single unit bank located at L. Araneta St., Barotac Nuevo, Iloilo.

Acquisition of Rural Bank of San Fernando (Camarines Sur), Inc.

Producers Bank acquired one hundred percent (100%) ownership of Rural Bank of San Fernando (Camarines Sur), Inc. on 10 May 2018 and immediately took over its management on 11 May 2018. RB San Fernando has two (2) branches — its Head Office is located at Bonifacio, San Fernando, Camarines Sur, and a branch is located at San Cirilo, Pasacao, Camarines Sur.

Acquisition of Bangko Rural ng Magarao (Camarines Sur), Inc.

Producers Bank acquired one hundred percent (100%) ownership of Bangko Rural ng Magarao on 21 February 2018 and immediately took over its management on 22 February 2018. Bangko Rural ng Magarao is a single unit bank located at San Pantaleon, Magarao, Camarines Sur.

Acquisition of Bangko Rural ng Pasacao (Camarines Sur), Inc.

Producers Bank acquired one hundred percent (100%) ownership of Bangko Rural ng Pasacao (Camarines Sur), Inc. on 19 February 2018 and immediately took over its management on 20 February 2018. Bangko Rural ng Pasacao is a single unit bank located at Sta. Rosa Del Sur, Pasacao, Camarines Sur.

Acquisition of Rural Bank of President Quirino

Producers Bank acquired ownership of the Rural Bank of President Quirino (RB Pres. Quirino) in Sultan Kudarat on 21 December 2017 and took over its management on 22 December 2018. RB Pres. Quirino has two (2) branches namely: Pres. Quirino & Tacurong.

Acquisition of Rural Bank of Pamplona

Producers Bank acquired Rural Bank of Pamplona in Camarines Sur on 27 October 2017 and took over its management on 31 October 2017. Rural Bank of Pamplona has two (2) branches namely Pamplona and Sipocot.

Acquisition of Rural Bank of Sto. Domingo, Nueva Ecija

On 05 June 2017, Producers Bank acquired Rural Bank of Sto. Domingo, Nueva Ecija (“STONE”) and formally took over its management. Five (5) of the six (6) branches of STONE are located in areas where Producers Bank has no branches namely: Baloc in Nueva Ecija, Anao and Ramos in Tarlac and San Manuel in Pangasinan.

Acquisition of Rural Bank of Bustos

Producers Bank acquired majority ownership of the Rural Bank of Bustos in Bulacan and formally took over its management on 09 February 2017. The acquisition is part of the Bank’s expansion program particularly in the province. Mr. Andres M. Cornejo, Chairman & CEO supports the policy of the Bangko Sentral ng Pilipinas (BSP) in promoting mergers and consolidations among banks as a means to develop larger and stronger financial institutions.

Merger with Rural Bank of San Fabian, Tower Development Bank, and Rural Bank of Tayabas

The Securities and Exchange Commission (SEC) approved the articles and plan of merger of Producers Bank with Rural Bank of San Fabian, Tower Development Bank and Rural Bank of Tayabas on November 23, 2016. Producers Bank has grabbed every opportunity for acquisition ever since BSP encouraged consolidation in the banking industry.

Merger with Rural Bank of Cainta

The Securities and Exchange Commission (SEC) approved the Articles and Plan of Merger of Producers Savings Bank Corporation and Rural Bank of Cainta, Inc. (RBCI) on 29 December 2015, with Producers Bank as the surviving entity.

Merger with Iloilo City Development Bank

On 31 October 2013, the SEC issued the Certificate of Filing of the Agreement and Articles and Plan of Merger between Producers Bank (surviving corporation) and its thrift bank subsidiary, Iloilo City Development Bank (absorbed corporation). As such, the corporate term of ICDB was automatically terminated, and its assets and liabilities were absorbed and assumed by Producers Bank. The approval was contained in MB Resolution No. 1498 dated 13 September 2013.

Consolidation with New Rural Bank of Victorias, Inc.

The SEC issued on October 01, 2012 the Certificate of Incorporation of Producers Savings Bank Corporation and the Certificate of Filing of the Articles and Plan of Consolidation between the ‘old’ Producers Savings Bank Corporation and New Rural Bank of Victorias, Inc. The ‘new’ Producers Savings Bank Corporation received its Certificate of Authority to Operate as a Thrift Bank on October 08, 2012, and commenced consolidated operations on October 12, 2012. The Monetary Board classified Producers Bank as a “complex bank” citing: (1) wide geographical reach; (2) distinct financial products and services offered; and (3) high growth and aggressive business model.

Acquisition and Subsequent Merger with Rural Bank of Rosales, Inc. (“Rosbank”)

On 18 September 2003, the BSP approved the merger between the Bank and Rosbank, a rural bank with 11 branches owned by the Estrella family of Pangasinan. The Articles of Merger and Plan of Merger were approved by the SEC on 19 July 2004, and the BSP approved the operation as a merged bank — with Producers Bank as the surviving entity — on 20 December 2004. In addition to the 11 branches of Rosbank, the BSP gave Producers Bank the authority to open 9 more new branches.

Registered with the Securities and Exchange Commission (SEC) to operate as a rural banking corporation under the name Producers Rural Bank of San Jose City (N.E.), Inc.

Monetary Board Resolution No. 856 approved the grant of authority to operate as a rural bank pursuant to Republic Act 7353.

BSP granted the Bank its Certificate of Authority to operate as a rural bank.

Producers Bank started its operations as a rural bank.

Monetary Board Resolution No. 157 approved the creation or acceptance of demand deposits. On April 11, 1997, the BSP issued the Certificate of Authority to accept or create demand deposits.

Monetary Board Resolution No. 1362 approved the transfer of the head office from Maharlika Highway, Cabanatuan City, Nueva Ecija to the 17th floor One San Miguel Avenue (OSMA), Ortigas Center, Pasig City. Transfer took effect on May 3, 2005.

Monetary Board Resolution No. 960 approved the Bank’s application to operate a Foreign Currency Deposit Unit (FCDU). Certificate of Authority issued April 23, 2008 and obtained May 8, 2008.

Monetary Board Resolution No. 1158 approved the application to upgrade banking license from Rural Bank to Thrift Bank, despite an existing moratorium on new banking licenses since 1999. On June 6, 2010, BSP approved the amendments to the Articles of Incorporation and By-Laws covering the change in name to Producers Savings Bank Corporation.

Producers Bank issued P120.0 Million Unsecured Subordinated Debt (UnSD) qualifying as Lower Tier 2 Capital to Land Bank — achieving several firsts: first bank to issue UnSD on a private and negotiated basis, first rural bank to issue UnSD, and the largest UnSD issuance by a rural bank at the time.

Monetary Board Resolution No. 698 approved Producers Bank’s application to directly participate in the clearing operations of the Philippine Clearing House Corporation (PCHC) and BSP. On June 01, 2011, the Bank commenced direct participation in PCHC check clearing operations.

BSP approved the Bank’s application for participation in the Philippine Payments and Settlements System (PhilPASS). In March 2011, Producers Bank commenced participation and use of PhilPASS facilities.