Businessman Jesus Tambunting is credited to have founded Planters Development Bank.

[3] At least one these banks in Bulacan catered to entrepreneurs from the countryside who runs small and medium enterprises (SMEs).

[4] The Tambunting Group acquired the BSLA in July 1971 took over the BDB in December 1972.

The BDB was renamed the Planters Development Bank in 1976 and moved its headquarters to Baliuag.

It gradually grew by opening new branches and acquiring other local banks.