Bernardo Onarse Cerenado, 54, manager of University Savings and Loan Bank in Malasiqui town, lost P971,000 in cash which he, along with two companions, was to deposit to an Equitable PCI Bank branch here.
Cerenado, together with bank messenger Raul Boquiren Austria, 28, and security guard Jaime Balanon Escobero, 45, was en route to Equitable PCI Bank aboard a Tamaraw FX at about 2 p.m. when the robbers, brandishing M-16 Armalite rifles, blocked their path in Sitio Kapaangan, Barangay Coliling here.
Aside from the money, the robbers carted away a caliber .45 pistol with three loaded magazines and a 12-gauge shotgun with seven bullets.
They escaped aboard a Toyota Corona with license plate NMX 901 toward Barangay Cabeldatan in Basista town and there, boarded four motorcycles.
Police recovered the getaway car in Barangay Tarectec here. It was found registered under the name of one Teresita Jamaldin of Parañaque City.
Last year, another bank manager on his way to deposit money was also held up and killed in Barangay Coliling.