Banco Dipolog
PBCom Rural Bank, formerly Banco Dipolog, Inc., was the 54th rural bank opened in the Philippines after the enactment of the Rural Banking Act of 1952. The late Justice Florentino Saguin, with the strong support of his son, Atty. Augusto “Tuting” Saguin, originally established it as the Rural Bank of Dipolog, Inc. (RBDI) on October 17, 1957, and opened its welcoming doors to the banking public on November 2, 1957. History Rural Bank of Dipolog, Incorporated (1957 to 2010) Banco Dipolog started in 1957 by Justice Florentino Saguin who retired from government service due to his various capacities. Having his retirement funds, he was given an option together with his son Augusto G. Saguin if they would investing a lot in Makati City, or to put up his funds for the establishment of a Rural Bank in Dipolog. Florentino said to his son, ”I want to spend what little time I have left and what little resources I possess for the benefit of the small people from where I came.” And so the decision was final. Complying with all the requirements of the Central Bank and the Securities and Exchange Commission the Rural Bank of Dipolog, Inc. was granted its charter in October 1957 and was inaugurated on November 2, 1957. They started with a “paid in capital” of only Php 50,000. with a rented office at the Lacaya Building which was the only concrete building of consequence in Dipolog at the time. Justice Florentino Saguin was the first Bank President. His only previous exposure at finance was as Chairman of the Mindanao Emergency Currency Board which printed and issued Emergency Money for the use of the Guerrilla movement in Mindanao and to support the local economy during the war. This was the so-called “Saguin Money”. They started with a manpower of only three people with Augusto as the Manager, Mrs. Gregoria Espiritu, CPA as the Bookkeeper – Accountant, and Mrs. Araceli Zapanta as Cashier – Teller. The workings and methods of Rural Banking then were so simplified and was so designed for untrained folks to do in the rural areas. In 1965, Justice Florentino Saguin died and the management was passed on to his wife, Doña Consuelo Galleposo Saguin. Doña Consuelo spent the last ten years of her life in proficiently nurturing the viability of the bank at its early growth stage until a fine – tuned change of leadership was experienced by the bank after her death. In June 1975, following the death of Doña Consuelo, the son who then became an attorney, Atty. Augusto Saguin, formally took his sublime oath as chairman and President. At his management, the bank was cited by Bangko Sentral ng Pilipinas as the Top Rural Bank for Region IX in 1989. RBDI expanded in the 1990s. In 1998, a branch in Dapitan opened on January 8, then in Sindangan on July 8. In 2000, it started offering its consumer loan products as such as their microfinance which they dubbed as “TIGUM” (Visayan: