NEW YORK, Sept. 8, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:
PanAmerican Bancorp (AMEX:PNB) has a highly experienced new management team and successful acquisition track record, said Investrend Research analyst Kipley J. Lytel, CFA, in an initiating Focus coverage.
Lytel said the company also has an impressive historic growth rate for assets, loans, deposits and shareholder equity, is a participant in a strong financing and after market demand for small regional banks and successfully completed an $11.0 million offering and its management is refocusing on driving the Bank toward profitability.
However, said Lytel, PanAmerican Bancorp has yet to turn a net earnings profit since 2000, has limited float and controlling ownership of common stock by insiders.
"PanAmerican Bank has grown significantly since new management took control in December 2001. Since that time, the executive team has focused on growing the loan portfolio by concentrating on origination of high-quality commercial real estate loans, and by competitively pricing deposit products to maintain the interest rate spread. The Company intends to continue to expand its business through internal growth, as well as through the acquisition of other banks, such as its acquisition of the assets of Gulf Bank," said Lytel.
The full report, including important disclosures and disclaimers, is available at http://www.investrendresearch.com, and at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes and investors are advised to read those disclosures carefully before trading in the equities of any enrolled company.
The analyst's credentials are at http://www.investrend.com/articles/secondlevel.asp?level=238
PanAmerican Bancorp is enrolled in Investrend Research's pioneering professional research program, which facilitates independent analysts to provide financial coverage for shareholders in companies that otherwise, would have little or no analyst following. Enrollment fees for Focus coverage is $3,950 and the fees were paid by Capital Growth Financial, LLC, who acted as underwriter on PanAmerican's recent $11.0 million offering. Analysts are paid in advance of initial reports by Investrend Research to eliminate pecuniary interest, and neither the analyst nor anyone associated with Investrend Research may own or trade in the stocks of a company under coverage.
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