Failed Banks, 2005

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

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

Sources: 
BIR.gov.ph
PDIC.gov.ph

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