The Monetary Board placed Rural Bank of Calubian (Leyte), Inc. under receivership of the Philippine Deposit Insurance Corporation (PDIC) by virtue of MB Resolution No. 1850 dated December 15, 2011. As Receiver, PDIC took over the bank on December 16, 2011.

Rural Bank of Calubian is a single-unit bank located in Sta. Filomena St., Brgy. Espinosa, Calubian, Leyte. Latest available records show that as of September 30, 2011, the Bank had 1,276 accounts with total deposit liabilities of P14.37 million.

In a statement, PDIC said that upon takeover, all bank records shall be gathered, verified and validated. The state deposit insurer assured depositors that all valid deposit insurance claims shall be paid to the extent of the maximum deposit insurance coverage of P500,000. A Depositors’ Forum was conducted today, December 19, 2011, 9:00 AM at the Kalubian National High School Gymnasium, Kalubian, Leyte, to inform depositors of the requirements and procedures for filing deposit insurance claims. Claim forms were also distributed during said Forum.

The PDIC reminded borrowers of Rural Bank of Calubian that loan repayments should be made only to the PDIC Deputy Receiver or the Assisting Deputy Receiver stationed at the bank premises, or deposited to the designated Philippine National Bank (PNB) accounts.