Two savings banks or thrift banks and two rural banks failed in 2004, based on reports on the PDIC and BIR websites.
1. Rural Bank of Sto. Domingo (Albay), Inc.
– Taken over by the PDIC on January 8, 2004
– Liquidated by the court on May 27, 2004
2. First Savings Bank
– Head office along E. Rodriguez, Quezon City
– Had 3 branches: Cubao, Recto and Tanay, Rizal
– Established in 1965
– Had 10,609 deposit accounts and 193.93 million
in deposits as of June 30, 2004
– Taken over by the PDIC on September 8, 2004
– Liquidated by the court on October 14, 2004
3. Rural Bank of Culasi (Antique), Inc.
– Taken over by the PDIC on October 21, 2004
– Liquidated by the court on March 17, 2005
4. Ever Development Bank
– Taken over by the PDIC on November 25, 2004
– Liquidated by the court on November 18, 2005
BIR.gov.ph