BHF Rural Bank, Inc. was established to support growth and deliver the much essential solutions for the financial needs of its serviced communities. BHF Bank being the primary credit arm of the BHF Corporation, its mother entity, for its real estate and chattel lending activities, the Bank initiated its processing of incorporation requirements with five (5) incorporators, namely, Remigio M. Bonifacio, Sr., Aurora B. Bonifacio, Dr. Armando B. Bonifacio, Remigio B. Bonifacio, Jr., and Rosemarie B. Bonifacio, all members of the Dagupan-based Balingit-Bonifacio Clan. The Bank’s original Articles of Incorporation and By-Laws was for an original authorized capital stock of P80,000,000.00,which was divided into 60,000 common shares and 20,000 preferred shares with par value of P1,000.00 each.
On February 28, 1997, the Bank’s Certificate of Incorporation and License to Operate as a Rural Bank was granted and signed by then Governor Gabriel C. Singson. Immediately thereafter, the BSP-endorsed Articles of Incorporation and By Laws were registered with the Securities and Exchange Commission, Baguio Extension Office and the same merited approval on May 21, 1997 under SEC Registration No. B199700371.
Having been confronted with various regulatory, business and operational challenges in the rural banking industry, and aiming at coping with BSP standards under the said regulator’s capital adequacy framework, its Articles of Incorporation and By-Laws were amended on August 4, 2006. The said amendment increased the Bank’s capital stock to P180,000,000.00 comprising of 160,000 common shares and 20,000 preferred shares at P1,000.00 par value per share which was approved by the SEC on November 28, 2008. In addition, the number of directors was increased from five (5) to eleven (11) members. The same also covered provisions for eight executive officers including the Bank’s Compliance Officer.
BHF Rural Bank, Inc. originally established its humble beginnings at its main office located at the 2nd Floor of BHF Corporation Building, A.B. Fernandez Avenue, Dagupan City. In the year 2000, it relocated to BHF Plaza at Mayombo District, Dagupan City. At present, the Bank stands at its own building on the same district where it transferred its Main Branch and Corporate Office in 2007.
Currently, BHF Rural Bank has Dagupan as main branch and six (6) branches which are strategically spread across and maintaining foothold positions in Lingayen, Urdaneta City, Tayug, Mangatarem, Rosario La Union and Alaminos City- serviced areas.
Today, the Bank continues to expand its customer base and has been embarking on the upgrade of its operating systems to bring about next level- and state-of-the-art technology driven customer service. It has also been aggressively professionalizing its manpower resources in order to further ensure reliable customer facing activities at par with Bangko Sentral Ng Pilipinas and international banking standards. All these have been aligned with its well-thought of strategic direction with well-defining vision and mission statements and corporate core values.