Notice is hereby given to the creditors and depositors of the Camalig Bank, Inc. (A Rural Bank) or CAMALIG BANK and Municipal Rural Bank of Nabua (Camarines Sur), Inc. or MRBN that the merger by the two banks, with CAMALIG BANK as the surviving entity, in accordance with the Plan of Merger and Articles of Merger, have been approved in accordance with the Plan of Merger and Articles of Merger, by the following: (a) Board of Directors and shareholders of CAMALIG BANK and MRBN; (b) Monetary Board of the Bangko Sentral ng Pilipinas in its Resolution No. 990 dated 27 July 2023, as consented by the Philippine Deposit Insurance Corporation and Philippine Competition Commission; and the (c) Securities and Exchange Commission.

The merger shall become effective on the 1st calendar day of the immediately succeeding month from the date of receipt of the Certificate of Registration of the Articles and Plan of Merger from the Securities and Exchange Commission (SEC) and the Certificate of Authority to Operate from the Bangko Sentral ng Pilipinas, which will be on 1 October 2023.

Upon merger, MRBN will operate as a branch of CAMALIG BANK, and all debts, liabilities, contracts, assignments, and obligations of MRBN shall be deemed and declared to be those of CAMALIG BANK, INC. (A RURAL BANK) pursuant to the approved Articles and Plan of Merger.  Moreover, accounts of MRBN clients shall be migrated to the system of the CAMALIG BANK.  Overall, MRBN clients shall benefit from the wider branch network and range of products and services of CAMALIG BANK.

This announcement serves as a notice to all depositors and creditors concerned about the merger of CAMALIG BANK and MRBN.

Further updates and announcements shall be posted on the website and social media accounts of CAMALIG BANK.

Thank you.