Merger of Banco Dipolog, Inc. A Rural Bank, Rural Bank of Nagcarlan, Inc. and Rural Bank of Kabasalan (Zamboanga del Sur), Inc.

January 5, 2018 BSP CIRCULAR LETTER NO. CL-2018-001 TO : All Banks and Non-Bank Financial Institutions SUBJECT : Merger of Banco Dipolog, Inc. A Rural Bank, Rural Bank of Nagcarlan, Inc. and Rural Bank of Kabasalan (Zamboanga del Sur), Inc. The Securities and Exchange Commission approved on 11 December 2017 the Articles and Plan of Merger executed by and among Banco Dipolog, Inc. A Rural Bank (Banco Dipolog), Rural Bank of Nagcarlan, Inc. and Rural Bank of Kabasalan (Zamboanga del Sur), Inc., with Banco Dipolog as the surviving bank. The effective date of the merger was on 11 December 2017. For information and guidance. cDHAES TCAScE (SGD.) CHUCHI G. FONACIER Deputy Governor