HISTORICAL BACKGROUND

It was in 1978 when the idea to come up with a rural bank in the Municipality of Cantilan was brought up. The Manager of Rural Bank of Lanuza, Inc. encouraged Mrs. Areta C. Buniel, his cashier, to entice Cantilangons to put up a rural bank. The ides was immediately brought up to the late Mr. Luis Y. Buniel who inn turn started inviting investors. Mr. Buniel, together with the late Atty. Exuperancio H. Arienza, who just resigned from Central Bank as secretary, was able to organize the incorporators and spearheaded the preparation, documentation and follow-up of the application to put up a rural bank.

The said vision was materialized when Central Bank of the Philippines gave authority to Rural Bank of Cantilan, Inc. to operate as a rural bank on May 30, 1980 with an Authorized Capital of Php 500,000.00 and Paid-up Capital of P157,500.00. It was inaugurated on June 8 of the same year.

Nine (9) years after its establishment, the Management thought of extending its services not only to the Cantilangnons but also to other places of CARCANMADCARLAN area. And so, it opened its first branch in Madrid, Surigao del Sur. After another six (6) years, Tandag Branch was opened. Three (3) years later, Lt. Gen. William K. Hotchkiss III (Ret.) took over the presidency and his name RBCI which was renamed as Cantilan Bank, Inc. (CBI) and opened six (6) new branches: San Agustin, Surigao del Sur; Claver Branch, Surigao del Norte; San Miguel Branch, Surigao del Sur; Socorro Branch, Surigao del Norte; Tagbina Branch, Surigao del Sur and Tubod Branch, Surigao del Norte.