Merger of the Sugbuanon Rural Bank, Inc., Rural Bank of Bantayan, Inc. and Rural Bank of Pinamungajan, Inc.

November 15, 2006BSP CIRCULAR LETTER NO. CL-2006-041TO:All Banks and Non-Bank Financial Institutions with Quasi-Banking Functions   SUBJECT:Merger of the Sugbuanon Rural Bank, Inc., Rural Bank of Bantayan, Inc. and Rural Bank of Pinamungajan, Inc. The Monetary Board, in its Resolution No. 1147 dated 12 August 2004, approved the merger of the Sugbuanon Rural Bank, Inc., Rural Bank of Bantayan, Inc. and Rural Bank of Pinamungajan, Inc. with the Sugbuanon Rural Bank, Inc. as the surviving bank. The certificate of filing of the articles and plan of merger was registered/approved by the Securities and Exchange Commission on 02 October 2006.For information and guidance. DHacTC (SGD.) NESTOR A. ESPENILLA, JR.Deputy Governor