HISTORICAL BACKGROUND

Through the effort of Former Assemblyman Jose “Popit” Puyat and Mrs. Isabel R. Puyat, the Rural Bank of Lanuza (Surigao del Sur) was founded under the republic Act No. 720 as amended, otherwise known as the Rural Banking Act of 1952, in the form of a stock corporation. It was registered with the Securities and Exchange Commission on August 12, 1971 with a registration number 44997 and granted the authority to operate by then Central Bank of the Philippines on November 24, 1971. The bank had the initial capital of P500,000.00 when it was organized ad was then augmented to P 1,250,000.00 some time in August 31,1990, then its authorized capital stock was further increased to P20,000,000.00 by April 6, 1998 to cope with its envisioned expansion programs.

For decades, the bank maintained its low profile status but with diligent management. However, the compelling desire for excellence moves the management to adopt the vision to lead in banking industry and commit itself to build great places to work while making a profit. This vision is believed to usher the bank for expansion of its branch network, and assure of the realization of its envisioned development and growth. With professional bankers and well-trained staffs in its management, the bank’s transformed image and goals, which were set to join the league of expanded service banks, expedite the realization of its dream.