Merger of Producers Savings Bank Corp. and Countryside Rural Bank of Palauig (Zambales), Inc.

February 13, 2023 BSP CIRCULAR LETTER NO. CL-2023-011 TO : All BSP-Supervised Financial Institutions SUBJECT : Merger of Producers Savings Bank Corporation and Countryside Rural Bank of Palauig (Zambales), Inc. The Securities and Exchange Commission approved on 30 January 2023 the Articles and Plan of Merger executed on 7 September 2022, by and between, Producers Savings Bank Corporation (PROSB), the surviving corporation, and Countryside Rural Bank of Palauig (Zambales), Inc. (CPZAM), the absorbed corporation, whereby the entire assets and liabilities of CPZAM will be transferred to and absorbed by PROSB. The merger took effect on 31 January 2023. For information and guidance. CAIHTE (SGD.) CHUCHI G. FONACIER Deputy Governor