Consolidation/Upgrade of 1st Valley Bank, Inc. and Community Rural Bank of Clarin (Misamis Occidental)

Bangko Sentral ng Pilipinas

BSP Circular Letters

BSP Circular Letter No. CL-2013-049

September 25, 2013

BSP CIRCULAR LETTER NO. CL-2013-049

TO:All Banks and Non-Bank Financial Institutions
SUBJECT:Consolidation/Upgrade of 1st Valley Bank, Inc. (A Rural Bank) and Community Rural Bank of Clarin (Misamis Occidental), Inc. to be Known as 1st Valley Bank, Inc., a Development Bank

The Securities and Exchange Commission (SEC) approved on 19 April 2013 the Articles and Plan of Consolidation of 1st Valley Bank, Inc. (A Rural Bank) and Community Rural Bank of Clarin (Misamis Occidental), Inc. and registered on the same date the Articles of Incorporation and By-Laws of the consolidated bank upgraded as a thrift bank, to be known as 1st Valley Bank, Inc., a Development Bank.

The Bank started to operate as a consolidated thrift bank on 1 August 2013.

For information and guidance.

(SGD.) NESTOR A. ESPENILLA, JR.
Deputy Governor

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

Mobile No. +639451244898
digestph@gmail.com
Please read our FAQ before contacting us.