Depositors: Rural Bank of Tangalan, Inc.

LAST DAY FOR FILING OF CLAIMS IS JAN. 28, 2008

Depositors of the closed Rural Bank of Tangalan (Aklan), Inc. have only until January 28, 2008 to file their deposit insurance claims. The Philippine Deposit Insurance Corporation (PDIC) announced that January 28, 2008 is the prescriptive date or last day for depositors of the closed Rural Bank of Tangalan, Inc. to file claims for payment of deposit insurance.
Under Section 16(e) of RA 3591, as amended, the depositors are given two (2) years from PDIC takeover of the closed bank to file their claims for deposit insurance with PDIC. After this date, PDIC will no longer accept any claim for deposit insurance from depositors of the closed Rural Bank of Tangalan.
Rural Bank of Tangalan, Inc. was closed by the Monetary Board on January 26, 2006. It was taken over by PDIC on January 27, 2006. The bank’s adjusted insured deposits amounted to P40.21 million. As of December 31, 2007, PDIC had paid P38.18 million or 94.95 percent in insurance claims, representing 1,853 accounts.
Servicing of claims for depositors of Tangalan (Head Office) will be at the Municipal Hall of Tangalan, Aklan. Servicing of claims for depositors of Sigma branch will be at the Municipal Hall of Sigma, Capiz. PDIC representatives will service claims starting January 22, during office hours (8 a.m. to 5 p.m.). Depositors should present to PDIC representatives their original evidence of deposits like savings passbook, certificates of time deposit, bank statements and unused checks; and two (2) valid ID cards with the depositor’s signature when filing their claims. Additional documents may be required during claims processing. /MP