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History
of GRBank
Guagua, strategically located at the southwest portion of
Pampanga, is predominantly devoted for agricultural purposes such as palay,
sugar, fishponds, and other industries such as woodcrafts and furniture making
which it is known for.
1953-1960
 Republic Act # 720 in 1953 known as the
Rural Banking
Act paved way in the creation of the rural banks in the Philippines. A
group of entrepreneurs, led by Mr. Esteban Lapid, Dr. Felix Coronel, Rufino
Dimson, Maximo Dimson, Dr. Diosdado David, Angel Lagman, Evaristo Sunglao,
Rodolfo Sunglao, Emiliana Utulo, Pablo Narciso, Francisco Lapid, Dr. Abelardo
Lansang, Atty. Ramon Miranda, and Jose L. Carlos, incorporated the Guagua Rural
bank (GRBank). The first organizational meeting was held at the Ramon Lee
restaurant in Sta. Cruz, Manila. Together, they pooled Php24,000, just enough to
start incorporating for the proposed capital stock of Php480,000. An amount equal to the capital
paid-up by the investors was put in by the Central Bank as counterpart.
 On April 17, 1954,
the Guagua Rural Bank, Inc. was inaugurated in a small corner cubicle in the
Araullo Building fronting the Santo Nino Chapel. GRBank was among the
first ten rural banks to open in the Philippines. Barely a year after Guagua Rural Bank
inauguration, Dr. Felix Coronel succeeded Mr. Esteban Lapid as president of the
bank. Soon after Mr. Jose L. Carlos, Sr., one of the incorporators, and a leader
with vision and foresight, was elected president, a position that he holds up to
the present. He began to play a more active role in managing the bank, paving
the way for its unprecedented success
 To improve the bank?s image, GRBank
leased the ground floor of a then newly constructed building along the Guagua
riverside, near the back of Parish Church.
At the beginning of its operation, GRBank was limited to loan
services. It was only February 9, 1957 that GRB was granted the authority to
accept savings deposits. By September 17, 1960, GRB could accept current account
deposits.
The Land Reform Program in September 1972 and the Masagana 99
program were mandates to support farmers? agricultural financing needs. These
programs caused rural banks to stuff lose. The Stockholders infused more capital
to strengthen the financial stability of GRBank.
1984-1990
The coming of the second-generation managers professionalized the
set up of the bank. The combination of the experience and prudence of the first
generation management and aggressiveness and modern approach of the second generation proved to be a turning point for the
bank. The teamwork made the bank grow to a phenomenal
success.
When Central Bank liberalized branching license to rural banks in
1989, GRBank was the first in Pampanga to avail of this privilege. The first
branch was thus opened in Sta Rita, Pampanga at the quarter end of 1989. This
paved the way to an astronomical growth of the bank. From then on, the
management moved forward in full throttle.
1991-1999
The management of
GRBank was never demoralized with the Mt. Pinatubo eruption that wreaked havoc
to the region in 1991.
In 1993, a second GRBank branch was opened in Dolores, San
Fernando, and Pampanga.
In 1994, another branch was opened in Bacolor, Pampanga.
In 1995, the next branch was opened in Henson St., Angeles City.
In the same year, the bank started using computers and utilized software for
ledger-less posting. It was also this year that the lahar buried the town of
Bacolor.
In 1996, Bacolor branch, which was affected by lahar the previous
year, was moved to Dinalupihan, Bataan. By the end of this year, assets of
GRBank reached P363.7Million and capitalization rose to P50Million. This puts
GRBank in the map, landing the top 20 biggest rural banks
nationwide.
In 1997, a series of improvements and re-alignments have been done
to put GRBank more competitive stance. A new single business unit (SBU) in San
Nicolas, Angeles City was inaugurated. Also, the branch at Sta. Rita moved to
new two-story building.
2000-present
The year 2000
marked the start of the new millennium. The Bangko Sentral ng Pilipinas (BSP),
formerly Central Bank of the Philippines restricted the branching out for all
banks. GRBank was in a position of maximizing out for all its potentials. The
goal is to reach One Billion in Total Resources by 2004. On the same year, a new
4-storey Corporate Center was built and inaugurated last July 30, 2004 in the
City of San Fernando in line with its golden anniversary. This makes GRBank one
of the biggest rural banks nationwide.
Near the end of December 2005, as per its circular no. 505, Bangko
Central ng Pilipinas partially lifted the six (6)-year moratorium on branching,
a privilege given to financially strong and well-managed banks. This BSP move of
providing greater access to formal banking services will encourage residents to
join the economic mainstream and stimulate the local economy by enhancing access
to credit by local entrepreneurs and encourage savings and investments. (BSP
Media Releases, Dec. 19, 2005)
To continue its region wide expansion which began in 1997, GRBank
opened the Orani branch in Bataan on the 4th day of December,
2006.
GRBank San Nicolas, Angles moved its site on February 16, 2007 to
the vicinity of Clark field in First Street, Balibago, Angeles
City.
In March, branching moved eastwards-in Apalit, Pampanga at the
ground floor of the Blue Arcade near public market. This move brings GRBank
closer to Guagua?s eastern neighbors, including Minalin, Masanto and
Macabebe.
In August, to step onto the northern part of Central Luzon, Capas
branch opened was opened, very near the Dominican School.
Same month, a branch in Mabalacat was opened. This branch is
located at Mabiga, Mabalacat, Pampanga at the corner road going to Mauque
Resettlement.
The last branch that opened was Olongapo branch to strengthen its
presence in the west coast. It is located in front of St. Joseph Church and is
near St, Joseph College.
GRBank has the total of fourteen (14) branches. Together with the
pioneering branch, the new branches shall continue the mission laid out by the
founders.
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