California’s Oldest Latino Bank Celebrates 45 Years – Pan American Bank

Pan American Bank (Los Angeles) today announced that it will celebrate 45 years of service to the Latino community on October 24, 2009. Pan American Bank, California’s oldest Latino-owned bank, will honor founder and former U.S. Treasurer, Romana Acosta Banuelos, at a community celebration hosted at Pan American Bank’s headquarters.

“Pan American Bank and Mrs. Banuelos pioneered Latino-focused banking decades before it became the attractive niche that it is today. Mrs. Banuelos’ rags to riches background provided her with a firsthand example of what could be accomplished within the Latino community,” said Pan American Bank President and CEO Jesse Torres. “Nearly half a century ago and without the benefit of today’s census figures showing Latinos as the emerging market, Mrs. Banuelos saw the importance of serving underbanked Latino entrepreneurs and families in East Los Angeles and Santa Ana. Not only did she have the vision to serve Latinos at a time when it was considered financially and politically risky, she set up shop in the middle of East Los Angeles, the hub of Latino activity in Southern California.”

Mrs. Romana Acosta Banuelos is a true American rags to riches story that took Mrs. Banuelos from a poor Arizona mining town to the role of U.S. Treasurer, demonstrating to the Country, the world and most importantly, other Latinos, that Latino women are able to serve at the highest level of government. But more importantly, Mrs. Banuelos’ story demonstrates that success at the highest level is not dependent on socioeconomic status but is based on dedication and a commitment to personal excellence.

After being born in Arizona in 1925, Mrs. Banuelos and her family left for Mexico during the Great Depression and later returned to found, in 1949, one of California’s most successful independent food companies, Ramona’s Mexican Food Products, Inc. After the successful launch of Ramona’s Mexican Food Products, Mrs. Banuelos founded Pan American Bank in 1964 as a way to assist underbanked Latino small business owners and consumers. Mrs. Banuelos was later appointed as the 34th Treasurer of the United States. Her appointment made her the first Latino U.S. Treasurer and the highest ranking Latino in the federal government.

On October 24, 2009, Pan American Bank will publicly honor Mrs. Banuelos at a ceremony that will highlight Mrs. Banuelos’ accomplishments and Pan American Bank’s 45 years of service to the Latino community. The event will feature presentations by local dignitaries, music, folkloric dancers, children’s activities and food.

WHAT: Celebration Pan American Bank and Romana Acosta Banuelos
WHERE: Pan American Bank, 3626 East First Street, Los Angeles, CA 90063
WHEN: Saturday, October 24, 2009 – 11:00 am to 6:00 pm
Ceremony will take place at 12 noon.
QUESTIONS:

Tony Ramirez, (323) 264-3310, TRamirez@PanAmericanBank.us

Originally established in 1964 as Pan American National Bank, Pan American Bank, a Latino-owned bank headquartered in East Los Angeles, serves the needs of the Latino community in Los Angeles and Santa Ana. Founded by former U.S Treasurer Romana Acosta Banuelos, the Bank has stayed true to its mission of transforming and empowering Latino communities through banking relationships built on trust, service, respect, communication, and guidance.

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