Merger of Producers Savings Bank Corporation and Community Rural Bank of San Felipe (Zambales), Inc.
OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2024-___ 047 To : All BSP-Supervised Financial Institutions Subject : Merger of Producers Savings Bank Corporation and Community Rural Bank of San Felipe (Zambales), Inc. The Securities and Exchange Commission approved on 30 October 2024 the Articles and Plan of Merger executed on 30 January 2024 and 15 February 2024, respectively, by and between, Producers Savings Bank Corporation (PROSB), the surviving corporation, and Community Rural Bank of San Felipe (Zambales), Inc. (CSNFE), the absorbed corporation, whereby the entire assets and liabilities of CSNFE will be transferred to and absorbed by PROSB. The merger took effect on 31 October 2024. For information and guidance. Digitally signed by Chuchi G. Fonacier Date: 2024.11.12 19:14:14 +08'00' CHUCHI G. FONACIER Deputy Governor 12 November 2024 FSS Licensing Form No. 02-018 * Version 1 * Updated 31 July 2024
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