Regulatory Alerts2026-03-06
CL-2026-009: Purchase of Assets and Assumption of Liabilities of Rural Bank of Ibajay, Inc. by First Imperial Business Bank, Inc.
The Monetary Board approved the purchase of assets and assumption of liabilities of Rural Bank of Ibajay, Inc. by First Imperial Business Bank, Inc. under Resolution No. 1157 dated 27 November 2025. First Imperial Business Bank completed the transaction effective 05 January 2026, following the cessation of Rural Bank of Ibajay's operations on 31 December 2025. The Rural Bank of Ibajay surrendered its Certificate of Authority and its office was converted into a branch of First Imperial Business Bank.
File/Ref. No. FSD V-2026-01-0056b-FSD5-M-FIBB Page 1 of 1 FSS Licensing Form No. 02-018 * Version 1 * Updated 31 July 2024 FINANCIAL SUPERVISION SECTOR | OFFICE OF THE DEPUTY GOVERNOR CIRCULAR LETTER NO. CL-2026-____ To : All BSP-Supervised Financial Institutions Subject : Purchase of Assets and Assumption of Liabilities of Rural Bank of Ibajay, Inc. (IBAJY) by First Imperial Business Bank, Inc. (A Rural Bank), and IBAJY’s Surrender of its Banking License The Monetary Board, in its Resolution No. 1157 dated 27 November 2025, approved the Purchase of Assets and Assumption of Liabilities (P&A) of Rural Bank of Ibajay, Inc. (IBAJY) by First Imperial Business Bank, Inc. (A Rural Bank) (FIBB). FIBB completed the P&A transaction effective 05 January 2026. IBAJY ceased its operations effective close of business on 31 December 2025 and subsequently surrendered its Certificate of Authority. IBAJY’s office was converted into a branch of FIBB on 05 January 2026. For information and guidance. LYN I. JAVIER Deputy Governor 06 March 2026