History

Rural Bank of Central Pangasinan, Inc. (RBCP) began when it assumed the assets and liabilities of the former ECLGA Rural Bank, Inc., which seized operation when it was closed down by the Central Bank in 1976. The incorporators then original infused an initial capitalization of Php. 700,000.00.

RBCP was organized under Republic Act No. 720, as amended and was given a Certificate of Authority to operate by the Bangko Sentral ng Pilipinas on December 10, 1984. It was registered with Securities and Exchange Commission on June 25, 1984 and began lending to the public in the Province of Pangasinan initially in the town of Bayambang in the same year.

On July 20, 1991, RBCP amended its Articles on Incorporation to increase its capital stock to Php. 6,000,000.00 with 10,000 shares amounting to Php. 1,000,000.00 being subscriped and Php. 1,000,000.00 being paid. On the same year, the bank’s total resources amounted to Php. 9,423,100.00, with only a single operating office.

On May 1994, RBCP began its expansion by setting up the Calasiao branch. In the same year, the bank was also authorized by the BSP to accept demand deposits making RBCP one of the few rural banks in province that offered Current Accounts to its clients. The Bank of the Philippines Islands (BPI), Dagupan branch serves as its clearing bank. In the following year, RBCP San Carlos City branch was established.

On April 7, 1995, the bank again amended its Articles of Incorporation by increasing its Capital Stock to Php. 20,000,000.00 with 75,000 shares amounting to Php. 7,500,00.00 being subscribed and Php. 2,500,000.00 being paid. On the same year, RBCP’s total resources amounted to Php. 31, 258, 435.03.

As part of our plans to increase our influence in the western-eastern parts of Pangasinan, we will establish very soon, RBCP Binmaley branch and RBCP Pozzorubio Branch. Truly, these are indeed very exciting times and we look forward to an even brighter future ahead.

Of the six incorporators then, only one has remained with the bank to reach its 20th anniversary, our Founder, Sir Jaime C. Torres. Inspired by his father’s passion and dedication to the bank, Chairman Lorenzo S. Torres joined RBCP on April 1988, as the Bank Manager and a member of the Board of directors. In 1990, Sir “Owens” took over as Chairman of the Board and has so remained to this present. He is also currently the Bank’s Chief Executive Officer.

In 1996, RBCP Mangaldan branch RBCP Malasiqui branch began operations. On the same year, the bank upgraded its facilities with the use of computers using then a Disk operating System (DOS) programs.

In 1997, RBCP Manaoag Branch and RBCP Mangatarem branch was opened. A total of six branches were established in the three years alone making it one of the fastest growing rural banks in the province.

In 2000, the bank upgraded its computerization program by acquiring a Windows based program the connected all the branches to improve the efficiency and accuracy of its deposit-based services. RBCP also engaged in money remittance services by being an agent of Western Union and UniTeller. RBCP was recognized by Western Union as the second place for the most number of domestic money transfer transcations.

The latest amendment on the Articles of Incorporation of the bank was made on March 16, 2002, when the Capital Stock was increased by Php. 80,000,000.00 and Php. 20,000,000.00 worth of stocks being subscribed. As of September 30, 2004, RBCP’s capitalization was Php. 41 million and its total resources amounts to Php. 463.3 million

From 2005 to 2007, RBCP’s total resources increased from Php. 554,760,162.87 to Php. 678,792,092.26.

Due to increasing demands and convenience of our beloved depositor and clients, on July 2008, RBCP Urdaneta branch began its operation, becoming our youngest branch to date. By this year, the bank’s total resources were Php. 742, 148,987.19.

In 2009, the bank created a new and bigger building to relocate Mangaldan branch as a reflection of the growing number of clients and demands of our services. Also, construction already began for the new Head Office and the new home for RBCP Calasiao branch that is expected to be finish by the end of this year.

In behalf of the Rural Bank of Central Pangasinan, Inc. family, I take this opportunity of thanking our beloved depositors for the trust and confidence reposed on us and to our borrowers for their continued patronage. Let us continue to work together in building our community and our country.