Photo shows from left: Herminio M. Famatigan Jr., Gizela M. Gonzalez, Cezar P. Consing,
SBC President and CEO Alberto S. Villarosa, Edgardo P. Reyes and SBC SVP and CFO
Joselito E. Mape.
Security Bank Formalizes Acquisition of Premiere Development Bank
Security Bank Corporation (SBC) sealed the share purchase agreement with the owners
and management of Premiere Development Bank (PDB) with the parties recently completing
the signing of formal documents.
Premiere Development Bank will be renamed Security Bank Savings upon the approval
of the BSP and the Securities and Exchange Commission.
SBC immediately expands its branch network by 30% with the 38 branches of PDB located
within Metro Manila and the CALABARZON areas. The acquisition will allow SBC to
serve the needs of a diverse market in the consumer and small and mid-sized business
and PDIC. Maximum deposit insurance per depositor: P500,000