Merger of Producers Savings Bank Corporation and PBCOM Rural Bank, Inc.

OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2021-___ 040 To : All BSP-Supervised Financial Institutions Subject : Merger of Producers Savings Bank Corporation and PBCOM Rural Bank, Inc. The Securities and Exchange Commission approved on 15 April 2021 the Articles and Plan of Merger executed on 5 October 2020, by and between, Producers Savings Bank Corporation (PROSB), the surviving corporation, and PBCOM Rural Bank, Inc. (PBCRB), the absorbed corporation, whereby the entire assets and liabilities of PBCRB will be transferred to and absorbed by PROSB. The merger took effect on 15 April 2021. For information and guidance. Digitally signed by Chuchi G. Fonacier Date: 2021.05.17 09:27:52 +08'00' CHUCHI G. FONACIER Deputy Governor 17 May 2021