Many people remember the month of October for several reasons.  To the stockholders, officers, and employees of the Rural Bank of Mangaldan and to a certain extent , the people of Mangaldan in general would remember October as a significant milestone.  On this month the very first bank of Mangaldan was born.

Sometime as early as 1962, Dr. Ricardo C. Villamil, President and General Manager of the Rural Bank of Dagupan City thought of a brilliant idea for his friend and colleague Dr. Vicente B. Jimenez, a medical practitioner himself, to establish a bank in the latter’s hometown of Mangaldan, Pangasinan.  Dr. Jimenez was quite reluctant to do so because truth to tell, he had no experience nor background knowledge on banking and finance .  It took some time for Dr. Villamil to encourage, persuade, cajole, motivate and inspire his fellow doctor until such time that the latter decided to give it a try.  It was a leap of faith for Dr. Jimenez to establish what will later become an incoming banking institution in Mangaldan.

The journey to prosperity and greatness has begun.  The group of incorporators was formed, led by Dr. jimenez himself and Mrs. Josefina C. Villamil, wife of Dr. Ricardo.  The rest of the incorporators come from Mangaldan: Atty. Ludovico Q. Magno, Mr. Rafael D. Magno and Mr. Ponciano S. Aquino.  Working together with shared visions this group is credited with laying the foundations of the first ever bank of Mangaldan.  With Dr. Villamil as the guiding mentor, the group formulated By-laws which were integrated in the documents submitted to the Central Bank of the Philippines (now BangkoSentral ng Pilipinas) for approval.

Finally on May 29, 1963, the Central Bank of the Philippines approved the group’s application for authority to organize a rural bank in Mangaldan.  It shall be known as “Rural Bank of Mangaldan”.

With joy and eagerness, the incorporators had their first formal meeting on June 5, 1963.  They elected the following: Dr. Vicente B. Jimenez, President and General Manager, Mrs. Josefina C. Villamil, Vice President; Atty. Ludovico Q. Magno, Secretary-Treasurer; Mr. Rafael D. Magno and Mr. Ponciano S. Aquino, Directors.

After a thorough search and background check, the first set of employees was appointed namely: Dr. Vicente B. Jimenez ,President and General Manager; Mrs. Isidora V. Jimenez, Treasurer-Cashier; Atty Ludovico Q. Magno, Chief Appraiser; Mr. Moises P. Llego, Accountant; Mr. Benedicto Q. Cendreda, Bookkeeper; Mrs. Olympia O. Mercado, Loans and Discount  Clerk; and Mr. Sergio Lopez, Security Guard.

On October 19, 1963, the Rural Bank of Mangaldan was formally inaugurated.



Doing business is not just about making money but rendering competent service to communities in need. As stated in the Bank’s Credo, the key to national development is strong grassroots economies.  Towards this end, the Bank shall be in the forefront of service with sights trained  on countryside development. The Bank therefore set its own goals to transform rural communities.

Through the years, the Bank has extended credit opportunities to help people in Mangaldan and nearby towns improve their economic conditions.  Despite the changing economy in the national and global scenes, the Rural Bank of Mangaldan continued to fund programs and projects so that its clientele may have a better life and their children a better future.

To serve the public not only in Mangaldan but in other towns as well, the Bank has set up Automated Teller Machines (ATM) in Binalonan and Mapandan.



Towards the end of the 1990’s, the Rural Bankers Association of the Philippines (RBAP) has stopped the practice of giving out awards.  Be that as it may, it is worth mentioning the various awards reaped by the Bank, to wit:

  1. Bronze Plaque of Commendation for being the “Rural Bank of the Year 1970” from the RBAP
  2. Award of Merit 1975 from the National Commission on Savings
  3. Silver Plaque Award as “Rural Bank of the Year 1975” also from RBAP
  4. Golden Plaque Award as “Rural Bank of the Year 1976”
  5. Achievement Award as “Most Outstanding Rural Bank of the Country for 1976-1977” from the Central Bank of the Philippines
  6. “Rural Bank of the Year 1976-1977” from the SamahangBangko Rural ng Pangasinan
  7. Golden Plaque Award as “Rural Bank of the Year 1980” from the RBAP
  8. Merit Ward as “One of the Ten Best Managed Rural Banks in Region 1 in 1983” from the Central Bank of the Philippines
  9. Achievement Award as “Most Outstanding Rural Bank in Luzon for the Year 1987” from RBAP
  10. Achievement Award 1990 from RBAP



The Rural Bank of Mangaldan has made a difference in the rural communities not only in Mangaldan but in nearby towns.  It has empowered the people, especially those who have less in life, by giving them means of livelihood, assisting them in doable projects, making education accessible and offering assistance in times of need.

Our Christian upbringing teaches us that we are just stewards of God’s creation.  We do not really “own” anything on this earth; we are just caretakers of God’s bountiful blessings.  It is but fitting therefore that whatever exists in this world, we share with one another.

The Rural Bank of Mangaldan is a fine example of true stewardship.  It is not just a business establishment; it is a source of hope and inspiration.  Through the years, it has changed the lives of others.  It has remained a valuable partner of our government, the church and civil society in the upliftment of people’s lives.  It has contributed much to nation building in its own quiet way without fanfare.

Indeed, we can rely on the RURAL BANK OF MANGALDAN  for more accomplishments in the years ahead.