A total of 9 banks failed in 2003, all of them rural banks. Two were cooperative banks, which are also considered rural banks.
1. Rural Bank of Echague (Isabela), Inc.
– Taken over by the PDIC on January 20, 2003
– Liquidated by the court on June 12, 2003
2. Bauan Rural Bank (Batangas), Inc.
– Office at Mangobos St., Poblacion, Bauan, Batangas
– Taken over by the PDIC on May 8, 2003
– Liquidated by the court on September 18, 2003
3. Networth Bank of La Union (Rural Bank of Sto. Tomas, Inc.)
– Taken over by the PDIC on June 26, 2003
– Liquidated by the court on November 13, 2003
4. Rural Bank of Pulilan (Bulacan), Inc.
– Office in Paltao, Pulilan, Bulacan
– Taken over by the PDIC on October 2, 2003
– Liquidated by the court on March 4, 2004
5. TG Bank (Rural Bank of San Pablo City, Inc.)
– Taken over by the PDIC on October 2, 2003
– Liquidated by the court on April 5, 2004
6. Rural Bank of Bombon (Camarines Sur), Inc.
– Office in San Isidro, Bombon, Camarines Sur
– Taken over by the PDIC on October 9, 2003
– Liquidated by the court on April 15, 2004
7. Cooperative Bank of Davao Oriental, Inc.
– Office at Market Site, Lupon, Davao Oriental
– Taken over by the PDIC on October 16, 2003
– Liquidated by the court on April 29, 2004
8. Rural Bank of Maco (Compostela Valley), Inc.
– Office along National Highway, Maco, Compostela Valley
– Taken over by the PDIC on November 6, 2003
– Liquidated by the court on April 1, 2004
9. Cooperative Bank of Pangasinan
– Alexander St., Urdaneta City, Pangasinan
– Taken over by the PDIC on December 4, 2003
– Liquidated by the court on April 15, 2004
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