Through the efforts of Former Assemblyman Jose “Popit” Puyat and his wife, Mrs. Isabel “Bingle” R. Puyat, the Rural Bank of Lanuza (Surigao del Sur), Inc. was established as a stock corporation in accordance with the provisions of Republic Act No. 720 as amended, otherwise known as the Rural Banking Act of 1952. On August 12, 1971, the Bank was registered with the Securities and Exchange Commission with Registration Number 44997 and granted the authority to operate by the Central Bank of the Philippines on November 24, 1971. Upon its organization, it had an initial capital of P500,000.00, which was later increased to P1,250,000 sometime on August 31, 1990. Through the years, its operations grew. On September 3, 2010, its authorized capital stock was further increased to P40,000,000.00 to address its envisioned expansion programs.
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