Failed Philippine Banks, 2004

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

Sources:
BIR.gov.ph

PDIC.gov.ph