The Philippine Deposit Insurance Corporation (PDIC) announced that it will start servicing claims for insured deposits in the closed Rural Bank of Lupon (Davao Oriental), Inc. on Wednesday, January 16, 2008, six (6) days after takeover. RB Lupon was taken over by PDIC on January 10, 2008.

PDIC advised depositors to proceed directly to the bank premises where they maintained their deposit accounts and present to PDIC representatives their original evidence of deposits such as savings passbook or certificates of time deposit; and two (2) valid identification documents (IDs) with depositor's signature. PDIC will service claims from January 16 to 25, 2008, during office hours, Monday to Friday.

In a statement, PDIC reported that RB Lupon (Davao Oriental), Inc. had adjusted deposit liabilities of P8.013 million as of closure.

The Monetary Board (MB) ordered the closure of Rural Bank of Lupon (Davao Oriental), Inc. on January 10, 2008 by virtue of MB Resolution No. 14. Depositors of RB Lupon are given two (2) years from bank takeover to file their claims or until January 11, 2010 only. The maximum deposit insurance coverage is P250,000 per depositor.