The Philippine Deposit Insurance Corporation (PDIC) took over Rural Bank of Sta. Barbara (Pangasinan), Inc. on November 19, 2007 after the Monetary Board (MB) ordered the closure of the bank by virtue of MB Resolution No. 1285 dated November 16, 2007.

A seven-unit rural bank based in Pangasinan, the bank’s head office is located at Poblacion Sur, Sta. Barbara, Pangasinan. Its branches are located in Asingan, Calasiao, Mangaldan, Sta. Maria, Tayug and Urdaneta, all in Pangasinan. Latest available records show that as of December 31, 2006, the bank's estimated total deposit liabilities was P245.1 million.

In a statement, PDIC said that upon takeover, all bank records would be gathered, verified and validated in preparation for the claims settlement operations. The deposit insurer advised depositors of Rural Bank of Sta. Barbara (Pangasinan), Inc. to wait for further announcement on the schedule of claims servicing. Under Republic Act 9302 that amended the PDIC Charter effective August 12, 2004, the maximum deposit insurance coverage is now P250,000 per depositor.