Serafin Roman, who lost in the province’s vice gubernatorial race, owns the bank.
Superintendent Asterio Cumigad, city police chief, said security guard Alfredo Balbuena discovered the heist when he reported for his morning duty yesterday.
Police said the robbers entered the two-story thrift bank by cutting through its galvanized iron roof between 1 and 4 a.m.
Investigators suspect that the robbers were the three men who gave fictitious names and introduced themselves as Laguna businessmen, who rented Room 18 of the Elison Hotel adjoining the bank, for two days.
Police found inside the bank two portable acetylene gas cylinders and cutting tools used in destroying the steel vault and jewelry boxes.
Reports said the bank does not usually hire security guards for night duty.
Four days ago, the Pilar Rural Bank branch in Barangay Parang-parang, Orani town lost more that P500,000 to robbers who gained entry by destroying the galvanized iron roof of a pawnshop adjoining the bank. They also used an acetylene cutter to open the vault.
Senior Superintendent Sahiron Salim, provincial police director, called the 12 local police chiefs to an emergency conference yesterday to discuss the bank robberies.
Salim said the police should undertake pre-emptive measures to stop bank heists in the province.