MANILA, Nov 7 (PNA) — The Monetary Board (MB) placed the Synergy Rural Bank, Inc. under the receivership of the Philippine Deposit Insurance Corporation (PDIC) by virtue of MB Resolution No. 1753.A dated November 6, 2014. As Receiver, PDIC took over the bank on November 7, 2014.
Synergy Rural Bank is a single-unit rural bank with Head Office located at No. 5 Kap. Simeon Luz St., Brgy. 4, Lipa City, Batangas. Latest available records show that as of September 30, 2014, Synergy Rural Bank had 3,839 accounts with total deposit liabilities of P45.72 million. A total of 3,835 deposit accounts or 99.90% of the accounts have balances of P500,000 or less and are fully covered by deposit insurance. Estimated total insured deposits amounted to P42.45 million or 92.85% of the total deposits.
PDIC said that upon takeover, all bank records shall be gathered, verified and validated. The state deposit insurer assured depositors that all valid deposits shall be paid up to the maximum deposit insurance coverage of P500,000.00.
The PDIC also announced that it will conduct the Depositors-Borrowers Forums on November 17, 2014to inform depositors of the requirements and procedures for filing deposit insurance claims. Claim forms will be distributed during the Forum. The schedule and venue of the Forum will be posted at the bank premises and in the PDIC website, www.pdic.gov.ph. The claim forms and the requirements and procedures for filing are likewise available for downloading from the PDIC website.
Depositors may update their addresses with the PDIC representatives at the bank premises using the Mailing Address Update Forms to be furnished by PDIC representatives. Duly accomplished Mailing Address Update Forms should be submitted to PDIC representatives accompanied by a photo-bearing ID with signature of the depositor. Depositors may update their addresses until November 12, 2014.
Depositors with valid deposit accounts with balances of P50,000.00 and below need not file deposit insurance claims. But depositors who have outstanding obligations with Synergy Rural Bank including co-makers of the obligations, or have incomplete and/or have not updated their addresses with the bank, regardless of amount, should file deposit insurance claims.
For depositors who do not need to file deposit insurance claims, PDIC will start sending payments by mail to their addresses based on bank records by the third week of November 2014.
For depositors who are required to file deposit insurance claims, the PDIC will start claims settlement operations for these accounts not later than the last week of November 2014. The schedule of the claims settlement operations will be announced through notices to be posted in the bank premises and other public places as well as through the PDIC website, www.pdic.gov.ph.
According to the latest Bank Information Sheet (BIS) as of June 30, 2013 filed by the Synergy Rural Bank with the PDIC, the bank is owned by Herman S. Villalobos (46%), Felipe K. Lacorte (10%), Priscilla M. Escano (8%), Celestino C. David (6%), Enrico L. Caubalejo (5%), Juan C. Rosita, Jr. (5%), Quintin K. Lacorte (4%), Fidel K. Lacorte (4%), Arturo M. De Leon (4%), Gregorio M. Comia (2%), Cesar M. De Jesus (2%), Esperanza L. Ilagan (2%) and Yolanda M. Manundo (2%). Its Chairman and President is Herman S. Villalobos.
For more information, depositors may communicate with PDIC Public Assistance personnel stationed at the bank premises or call the PDIC Public Assistance Hotlines at (02) 841-4630 to (02) 841-4631, or send their e-mail to pad@pdic.gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342).(PNA)