Sometime in 1961, Engr. & Mrs. Romulo A. Petines, Sr. found out that his friends and their colleagues in the construction and logging businesses were investing their money in small banks in the countryside called Rural Banks. They were encouraged by their friends to do the same.
Engr. Petines, a native of Munoz, Nueva Ecija, resided in Cordon and Bantug Petines, Alicia, Isabela. However, since his two sisters, Bernardina and Purificacion, were already residents of San Mateo, he decided to put up a rural bank there.
The Securities and Exchange Commission issued the Certificate of Registration on June 6, 1962. Thus Rural Bank of San Mateo officially started its operations on June 11, 1962, with an authorized capital stock of P500,000.00.
The Bank’s first board of directors were Ms. Paulina Aquino Petines, Engr. Romulo A. Petines and wife Bienvenida Yap Petines, Dr. Abelardo S. Espidol and wife Ms. Purificacion P. Espidol.
The first manager was the late Mrs. Purificacion P. Espidol, the younger sister of Engr. Petines, with an initial staff of four employees.
Soon after, Mrs. Espidol resigned to concentrate on their own family business.
She was replaced by her spouse, Dr. Abelardo S. Espidol, who at present is the only surviving member of the first board of directors.
Subsequently, he was also replaced by Mr. Melecio Silverio, a nephew of Engr. Petines.
In July, 1966, Mr. Romulo Y. Petines, Jr. started as Asst. Manager and eventually took over as Manager in the year 1970. Mr. Dodo Petines, an Agriculturist, continued what his predecessors have started.
During this time, the bank started to grow because of the programs that the new manager initiated, like Demonstration Farms to show the farmers the new way of scientific and compact farming.
The bank actively participated in all government programs, like the Masagana 99. Because of its growing clientele and services, additional bank personnel and technicians were hired.
It also became actively involved in various bank organizations and activities.
In the year 1984, Ma. Linda N. Petines took over as General Manager up to this date. She is at present the Chief Executive Officer.
Mr. and Mrs. Romulo Y. Petines both worked hand in hand to bring the bank to where it is today…
The partnership started when the couple made their lifetime commitment in 1967.
Together they also spearheaded changes in the bank making it more competitive and progressive…
The Bank continued to grow because of their clients’ trust and loyalty…
It was in the year 1998 that Ms. Katrina Marie P. Pilapil started as Assistant Manager for Operations.
She gradually introduced additional bank services such as 5 and Up Savers’ Club, a deposit product for children, and innovative loan products that cater to the needs of the community.
Under her initiative RBSMI became the first rural bank in Isabela to offer ATM services.
In the year 1997, the first branch of RBSMI was opened at Alfonso Lista, Ifugao.
Mr. David C. Lucas was the first officer in charge, who later became the first branch manager of Alfonso Lista Branch.
March, 1998 marked the opening of another branch located at Luna, Isabela.
The first Branch Manager of Luna was Ms. Ma. Alexandra Petines Ramos.
The new RBSMI building was inaugurated on February, 2005.
RBSMI is considered as one of the largest banks in Region 2 in terms of resources which at present amounts to P800 million. Now at 58 years, RBSMI, in good and bad times, has survived and flourished. We are polite, friendly, resilient to a point, but never compromising.