For the year 2005, a total of 10 banks failed, based on reports on the BIR and PDIC websites. Two savings banks failed, namely Hermosa Savings & Loan Bank and Filhomes Savings and Loan Bank.
2 savings banks
8 rural banks
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10 failed banks
1. Rural Bank of Vinzons (Camarines Norte), Inc.
– Taken over by the PDIC on January 6, 2005
– Liquidated by the court on April 7, 2005
2. Banco Rural Legaspi, Inc.
– Taken over by the PDIC on January 13, 2005
– Liquidated by the court on April 7, 2005
3. Banco Rural Sorsogon, Inc.
– Taken over by the PDIC on January 13, 2005
– Liquidated by the court on April 7, 2005
4. Filhomes Savings and Loan Bank, Inc.
– Taken over by the PDIC on January 21, 2005
– Liquidated by the court on April 7, 2005
5. Municipal Rural Bank of Del Gallego, Inc.
– Taken over by the PDIC on January 27, 2005
– Liquidated by the court on April 7, 2005
6. Hermosa Savings & Loan Bank, Inc.
– Head Office at A. Nuguid Street, Hermosa, Bataan
– Had 11 branches in Bataan: Abucay, Balanga,
Mariveles, Morong, Orani, Samal, Dinalupihan,
Pilar, Orion, Limay, Bagac
1 branch in Pampanga: Lubao
1 branch in Metro Manila: Gil Puyat Ave., Palanan, Makati
– Closed by the BSP on February 3, 2005
– Taken over by the PDIC on February 3, 2005
– Liquidated on April 7, 2005
7. Rural Bank of Rizal (Occidental Mindoro), Inc.
– Head Office in Poblacion, Rizal, Occidental Mindoro
– Closed by the BSP on February 24, 2005
– Taken over by the PDIC on February 25, 2005
8. Rural Bank of Lilio (Laguna), Inc.
– Head Office at Bonifacio St., Liliw, Laguna
– Had 4 branches, all in Laguna: Santiago and calumpang in Liliw,
Santa Cruz and Nagcarlan
– Closed by the BSP on June 9, 2005
– Taken over by the PDIC on June 10, 2005
9. Rural Bank of Lilio, Inc.
– Taken over by the PDIC on June 9, 2005
– Liquidated by the court on September 8, 2005
10. San Nicolas Bank (RB of San Nicolas, Batangas), Inc.
– Taken over by the PDIC on November 10, 2005
– Liquidated by the court on February 2, 2006