Depositors of the closed Merchants Rural Bank of Talavera (Nueva Ecija), Inc. have only until January 28, 2008 to file their deposit insurance claims.

In an advisory, the Philippine Deposit Insurance Corporation (PDIC) announced that January 28, 2008 is the prescriptive date or last day for depositors of the closed Merchants Rural Bank of Talavera, 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 Merchants Rural Bank of Talavera.

Merchants Rural Bank of Talavera, Inc. was ordered closed by the Monetary Board on January 26, 2006. The bank was taken over by PDIC on January 26, 2006. The bank's estimated insured deposits amounted to P371.932 million. As of December 31, 2007, PDIC had paid P363.084 million or 97.62% in insurance claims, representing 4,488 accounts.

Servicing of claims for depositors of Sta. Rosa (Head Office), Zaragosa and Cabanatuan branches will be at the Municipal Hall of Sta. Rosa, Nueva Ecija starting January 17. Servicing of claims for depositors of San Jose, Muñoz and Talavera branches will be at the City Hall of Muñoz, Nueva Ecjia starting January 22. Servicing of claims for Gapan and Cabiao depositors will be at the Municipal Hall of Cabiao, Nueva Ecija starting January 22. PDIC representatives will service claims on said periods, during office hours (8 a.m. to 5 p.m.).

Depositors should present to PDIC representatives their original evidence of deposits such as savings passbook, certificates of time deposit, or bank statements and unused checks; and two (2) valid identification cards (IDs) with the depositor's signature when filing their claims. Additional documents may be required during claims processing.