1.12.2014

Failed Banks in the Philippines, 2014

By Nora
Updated January 3, 2015:  

In 2013, there were 18 Philippine banks that failed.  All were rural banks.  The biggest was a cooperative rural bank -- Cooperative Rural Bank of Bulacan -- which had 18 branches. It was reported that this bank failed mainly due to bad real estate mortgage loans.

Last year, 2014, fewer banks failed: 15 banks. 
13 banks were rural banks
1 bank was a cooperative bank
1 bank was a savings bank in Silang, Cavite --
    Silangan Savings and Loan Bank Inc.
    Silangan bank's financial report has not been seen on
    the BSP website since 2009, or probably even earlier
    (usually a sign of imminent failure)

Failed Banks in the Philippines, 2014

15.  Rural Bank of Burauen (Leyte), Inc.
          - Office address at San Ramon St.
               Burauen, Leyte
          - Closed by the BSP on December 4, 2014
          - Taken over by the PDIC on December 10, 2014

14.  Synergy Rural Bank (Batangas), Inc.
          -  Office address at No.5 Kap. Simeon Luz St., Brgy. 4
                      Lipa City, Batangas
          -  Closed by the BSP on November 6, 2014
          -  Taken over by PDIC on November 7, 2014

13.  Cooperative Bank of Tarlac, Inc.
        - Head Office at 193 Macabulos Drive
           San Roque, Tarlac
        - Had 4 branches:
             Del Pilar St., Poblacion H., Camiling, Tarlac
            Brgy. Sto. Domingo II, Capas, Tarlac
            Brgy. San Nicolas, Concepcion, Tarlac
            Brgy. Poblacion Sur, Paniqui, Tarlac
       - Closed by BSP on October 24, 2014
       - Taken over by PDIC on October 27, 2014

12.  Fil-Agro Rural Bank, Inc.
      - Head Office address at McArthur Highway,
         Poblacion II, Marilao, Bulacan
      - Had 3 branches, all in Bulacan:
        - McArthur Highway, Corazon, Calumpit
        - E-National Road, Cay Pombo, Sta. Maria
        - Noel Subd.,National Road, Brgy. Muzon,
           San Jose del Monte
     - Closed by the BSP on September 25, 2014
     - Taken over by the PDIC on September 26, 2014

11.  Rural Bank of Lobo, Inc.
         - Head Office at Poblacion, Lobo, Batangas
         - Had 3 branches:
              P. Burgos St., Batangas City
              Lipa City, Batangas
              Sto. Tomas, Batangas
         -  Closed by the BSP on September 18, 2014
         - Taken over by the PDIC on September 19, 2014

10.  Rural Bank of Padre Burgos (Southern Leyte), Inc.
       - Office address at Poblacion, Padre Burgos
           Southern Leyte
       - Closed by the BSP on September 12, 2014
       - Taken over by the PDIC on September 15, 2014.

9.   Banco Carmona, Inc., A Rural Bank
      - Head Office address at J.M. Loyola St.
          Carmona, Cavite
     -  Had 1 branch, located at PTC, Carmona, Cavite
     -  Closed by the BSP on August 1, 2014
     -  Taken over by the PDIC on August 1, 2014

8.  Rural Bank of Oroquieta (Misamis Occidental) Inc.
    - Head Office at Barrientos corner Revil Sts.
      Oroquieta City, Misamis Occidental
    - Had 1 branch in Calamba, Misamis Occidental
    - Closed by the BSP on July 21, 2014
    - Taken over by the PDIC on July 22, 2014

7.  Asian Consumers Bank (A Rural Bank), Inc.
    - Head Office address at Magsaysay Ave.
       Poblacion, Basista, Pangasinan
    - Had 3 branches, all in Pangasinan:
       . McArthur Highway, Nancayasan, Urdaneta
       . No. 4 De Venecia Highway, Nalsian, Calasiao
       . Rizal St., San Carlos City
    - Closed by the BSP on June 26, 2014  
    - Taken over by the PDIC on June 27, 2014

6.  Cavite Rural Banking Corporation
      - Head office at M.H. del Pilar St. corner Kiamzon St.
         Silang, Cavite
      - Had 3 branches:
          . Poblacion, Amadeo, Cavite
          . Buho, Amadeo, Cavite
          . JP Rizal St., Silang, Cavite
      - Closed by the BSP on May 9, 2014
      - Taken  over by the PDIC on May 9, 2014

5.  Gulf Bank (Rural Bank of Lingayen, Inc.)
     -  Head Office address at No. 3 Avenida Rizal East St.
             Lingayen, Pangasinan
     -   4 Branches:
           . Palamis St., Alaminos City, Pangasinan
           . Galvan St., Dagupan City
           . No. 1 Caoile Oligario St., Poblacion
               Mangatarem, Pangasinan
           . No. 1 Honeymoon Road, Baguio City
     -  Closed by the BSP on April 3, 2014
     -  Taken over by the PDIC on April 4, 2014

4.  Rural Bank of Pres. M.A. Roxas 
            (Zamboanga Del Norte), Inc.
      - Head office in Pres. Manuel A. Roxas,
            Zamboanga del Norte
      - 1 branch: Balintawak St., Dipolog City,
            Zamboanga del Norte
      -  Closed by the BSP on March 20, 2014
      -  Taken over by the PDIC on March 21, 2014

3.  Rural Bank of Montevista (Davao Del Norte), Inc.
    - Head office along Sobrecary St., City of Tagum
       Davao del Norte
    - Had 10 branches:
         New Bataan, Compostela Valley
         Poblacion, Mawab, Compostela Valley
         Poblacion, Monkayo, Compostela Valley
         Poblacion, Trento, Agusan del Sur
         Poblacion, San Francisco, Agusan del Sur
         Poblacion, Bayugan, Agusan del sur
         Pantukan, Compostela Valley
         Laak (San Vicente), Compostela Valley
         Mati, Davao Oriental
         Poblacion 1, Montevista, Compostela Valley
   - Closed by the BSP on March 6, 2014
   - Taken over by the PDIC on March 7, 2014.

2.  Rural Bank of Reina Mercedes (Isabela), Inc.
    - Head office in Brgy. Tallungan, Reina Mercedes, Isabela
    - Had 2 branches:
         Cauayan City, Isabela
         San Mateo, Isabela
    - Closed by the BSP on February 7, 2014
    - Taken  over by the PDIC on February 10, 2014

1.  Silangan Savings and Loan Bank Inc.
    - Office along J.P. Rizal St., Silang, Cavite
    - Closed by the BSP on January 9, 2014
    - Taken over by the PDIC on January 10, 2014
    - The financial statement form of this bank on the BSP
       website has been left blank since 2009, or probably
       even earlier, as mentioned in this List of Smaller        Savings Bank in 2012.

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