Barangay Banco

Situated in Palanas, Masbate, Barangay Banco is one of 24 barangays that make up the municipality within Bicol Region.

According to the 2020 Philippine census, Barangay Banco had a population of 718. This made it the 14th largest of 24 barangays in Palanas by population, placing it in the middle tier of the municipality. Residents of Barangay Banco accounted for approximately 2.63% of the total population of Palanas, which stood at 27,322 in the same census year.

Census comparisons between 2015 and 2020 show Barangay Banco moving from 659 residents to 718 residents, an intercensal change of +9.0%. The trajectory indicates a growing community. Barangay Banco is officially classified as rural, a designation applied to barangays with lower population density and predominantly non-built-up land use.

Palanas is a municipality comprising 24 barangays, and serves as the governing unit directly responsible for local services in Barangay Banco, including public health, sanitation, peace and order, and civil registration. Within the wider province of Masbate, which contains 550 barangays across its component cities and municipalities, Barangay Banco ranks 458th by 2020 population. Masbate is classified as a 1st by the Bureau of Local Government Finance, a category that reflects the province's annual regular income.

Like every Philippine barangay, Barangay Banco is led by an elected Punong Barangay (barangay captain) supported by seven Sangguniang Barangay members (kagawads), an SK Chairperson, a Barangay Secretary, and a Barangay Treasurer. The next Barangay and Sangguniang Kabataan Elections (BSKE) are scheduled for Monday, November 2, 2026, with officials serving four-year terms under Republic Act No. 12232.