BANGKO PANGASINAN – A Rural Bank
Bangko Pangasinan is a rural bank which has been in existence for almost 50 years. Established in 1968, the bank is now one of the most progressive and trusted bank, not only in the province of Pangasinan, but also in its neighboring key cities and provinces.
Initially named the Pangasinan Development Bank, it was founded by a group of successful and vision-driven businessmen, whose goals include the creation of a financial institution that would cater to the needs of local farmers, traders, and businessmen.
They were: Eleno G De Guzman, Sofronio C. Quimson,Antonio V. Sayson, Trinidad J. Ungson and Fernando M. Braganza.
The Securities and Exchange Commission issued its Certificate of Incorporation on April 26, 1968, with an authorized capital stock of Php 5000,000.00 divided into 40,000 common shares and 10,000 preferred shares, both with a par value of Php 100 per share. Its term of existence is 50 years from the date of incorporation.
Atty. Eleno De Guzman, whose family were majority shareholders of Rural Bank of Burgos, also located in Pangasinan, later had decided to concentrate their efforts in promoting their bank, thus leading to the amendment of Pangasinan Development Bank’s Articles of Incorporation making it a rural bank from a thrift bank. Thus, consequently changing its name to Bangko Pangasinan – A Rural Bank. It was issued a Certificate to Operate on February 2, 2002.
As amended, its authorized capital stock was Php 40.000,000 divided into 380,000 common shares and 20,000 preferred shares, both with a par value of Php 100 per share.The preferred shares were held by the Development Bank of the Philippines and Land Bank of the Philippines. These were later acquired by Mr. Joseph Li.
Meanwhile, the Rural Bank of Burgos of the De Guzman family was incorporated in 1960 and had an initial authorized capital stock of Php 500,000 and was increased to Php 2,000,000 in 1984. Later, as required by the Bangko Sentral ng Pilipinas, its authorized capital was raised to Php 14,000,000. Aside from its main office in Burgos, Pangasinan, it had three other branches – in Aguilar and Bolinao, both in Pangasinan, and in Masinloc in the province of Zambales.
Years later, the De Guzman family finally decided on the merger of the two rural banks, Rural Bank of Burgos and Bangko Pangasinan – a Rural Bank, with the latter as the surviving corporation. The Bangko Sentral ng Pilipinas and the Securities and Exchange Commission approved the merger on February 21, 2006.
Today, Bangko Pangasinan remains as one of the most secure and dependable bank, with its sustainable liquidity and robust business services in terms of loans and deposits. Its main branch is situated on E.T.G. Building, Mayombo District in Dagupan City. It has four branches located in 1) Alaminos City on Palamis Street, 2) Poblacion, Burgos, 3) Aguilar Poblacion, 4) Concordia District, Bolinao.
The officers of the bank include the President, Vice President, General Manager, Treasurer, Corporate Secretary and branch managers, as approved by the Securities and Exchange Commission.
The current Board of Directors are: Maribel D. De Guzman, Chairman of the Board and CEO, members of the Board are: Gregory D. De Guzman, President and COO, Angelo E. Castaneda, Director, Jessica R. Cinco, Director, Treasurer, Jethro Lloyd D. Tan, Director, Nelia P. Seril, Independent Director, Dr. Nicolas R. Guiang, Independent Director, and Atty, Jason R. Mejia, Corporate Secretary.
Bangko Pangasinan – A Rural Bank Inc., is an active member of the Rural Bankers Association of the Philippines (RBAP), Samahang Bangko Rural ng Pangasinan (SBRP), and Philippine Deposit Insurance Corporation (PDIC).