After its conversion was authorized by the Bangko Sentral ng Pilipinas (BSP), the extension office of the Bank in Ilagan, Isabela is now a full-fledged branch. It made a record in FICOBank’s history as the first-ever extension office that eventually turned into a regular branch.

It was on August 20, 2008 when FICOBank Ilagan was inaugurated as a field office (FO), under the domain of Roxas Branch. It became an extension office (EO) when BSP granted its authority to operate as an EO on March 2, 2010. And just last November 16, 2011, merely three weeks after the Bank has filed its application to convert the Ilagan Extension Office into a branch, BSP gave it the “go signal” to operate as a full-service branch. This significant development in the banking landscape of FICOBank Ilagan is in line with the branch network re-engineering thrust of the Bank.

Ilagan Branch, the 18th branch of FICOBank, has now the jurisdiction over Tumauini and Cabagan EOs. These extension offices were formerly attached to FICOBank Head Office (Cauayan City). It becomes the servicing branch of these extension offices because of the proximity of their locations to the said branch. BSP approved the attachment of these EOs to the Ilagan Branch as well.

Ilagan, being the primary service area of the branch, is the capital town of the province of Isabela. It has the biggest population among municipalities and cities in the Cagayan Valley Region. It has also the biggest Internal Revenue Allotment (IRA) for LGUs—municipality level—in the entire region. Having a large land area (1,166.26 sq. km., politically subdivided into 91 barangays), with a commercial-based and well-built economy, Ilagan provides the Bank a greater opportunity to expand further its banking operations.

For FICOBank Ilagan, moving to a higher notch will enable it to have greater competitiveness, better performance and bigger income, as it offers full banking services with the right product repertoire to the right customer segment. It is now well-positioned to support continuously the banking needs of the local populace. More importantly, it intends to build and maintain partnership with the customers in a way and at a level that will benefit their respective business and personal banking goals and/or interests.