Barangay Two was created by virtue of Presidential Decrees (PD) 86, 86A and 210 which were signed by the then President Ferdinand E. Marcos in 1974 after the declaration of Martial Law. These were the legal basis of its creation, as one of the 20 barangays created in the Poblacion by the then mayor, Hon. Timoteo C. Ocaya.
After a year of operation, the Municipal Council of Malaybalay passed a resolution Nos. 246-74 and 249-74 and an implementing Ordinance No. 87 S-74 reducing the number of barangays from 20 to 11 to satisfy the Local Government Code requiring each barangay to have at least a minimum of 1,000 population.
Mayor Ocaya appointed Atty. Nemesio G. Beltran as the first barangay chairman. He was succeeded by Dr. Benjamin Albasin, the first elected barangay chairman.
Below is the list of the barangay captains of barangay 2 since 1974: