LOS ANGELES, CA -- 11/24/09 --
Promérica Bank (OTCBB: PMRA) -- In a
spirited, well-attended celebration by prominent Los Angeles business and
community leaders, Promérica Bank celebrated its 3rd Anniversary and
honored its Founding Organizers. The event, recently held at Promérica
Bank's downtown Los Angeles location, included a tribute to the families
who joined together in an historic effort to financially empower small
businesses with the creation of the first Latino formed bank in California
in over 30 years.
Founding Chairwoman Maria Contreras-Sweet welcomed the founding
shareholders and special guests including Promérica Bank's Board of
Directors, clients and civic and community leaders. She reaffirmed the
criticality of their vision, stating that "Small businesses drive
innovation and are critical to the economic strength of our nation creating
2/3 of all new jobs. This reaffirms the Founding Organizers' vision to
form Promérica Bank to provide financial services in a culturally
sensitive, consultative approach to serve the Los Angeles community."
Contreras-Sweet then introduced Promérica Bank's President and CEO, John H.
Quinn, who emphasized how important the Founding Organizers and
shareholders have been to the growth of the Bank. "In an environment of
tremendous economic instability, our shareholders' support and promotion of
Promérica Bank have given us a critical advantage, enabling us to build
productive new banking relationships in the diverse markets in which they
operate."
The celebration continued with a cultural performance by MARIACHI USA
Foundation students from Middleton Middle School.
Contreras-Sweet and Quinn were then joined by Founding Shareholder Edward
P. Roski, Jr., Chairman of Majestic Realty, as they presented an award to
each of the Founding Organizers. Roski affirmed, "My decision to invest in
Promérica Bank was based on indications that Los Angeles needed a financial
institution with the vision and expertise to address the growing Latino
market." Also in attendance was Founding Shareholder Henry Cisneros, CEO
of American CityVista, who added, "Latino-owned businesses have evolved
tremendously; and with growth at three times the national average,
investing in and banking with Promérica Bank helps ensure their access to
capital and continued development."
As Contreras-Sweet stated, "Our shareholders and stakeholders provide the
inspiration and motivation for us to continue to assist our clients to
power forward in the marketplace. We are dedicated to ensuring that the
entrepreneurs, professionals and non-profits become the economic engines
that our local economy requires to thrive. Promérica Bank is helping
families fulfill the Promise of America."
Promérica Bank Founding Organizers
Henry & Ana Barbosa
Amador Bustos
Martin Cabrera
Ernest M. Camacho
Jorge Castro
Alex & Nadine Chaves
Eric Chaves
Alex Martin Chaves
Renee Chaves & Joseph "Pep" Valdes
Henry & Mary Alice Cisneros
Ray & Maria Contreras-Sweet
Jorge Corralejo
Dorene Dominguez
Alex Espinoza
Jimmy Espinoza
Rene and Connie Flores
David Gamboa
John Gavin
Connie Holguin
George Kieffer
Steve Madison
Hector & Norma Orci
Celso & Barbosa Polverini
Rodri J. Rodriguez
Edward. & Gayle Roski
Raul & Maria Salinas
Frank & Julia Sanchez
Stuart & Regina Schonwetter
Solomon Trujillo
Salvador Varela
Gilbert R. Vasquez
Dr. Richard & Rebecca Zapanta
Promérica Bank is a commercial bank serving the Greater Los Angeles area.
Promérica Bank, a member of the FDIC and a SBA Preferred Lender, provides a
full range of financial services, including credit and deposit products and
cash management services from its downtown Los Angeles headquarters at 888
S. Figueroa Street, Los Angeles, CA 90017. Promérica Bank also offers
internet banking and remote capture technology to serve its clients in the
broader region. Information on products and services may be obtained by
calling (213) 613-5000 or visiting the Bank's website at
www.PromericaBank.com.
NOTE:
This news release contains forward-looking statements about the Bank for
which the Bank claims the protection of the safe harbor provisions
contained in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on management's knowledge and belief
as of today and include information concerning the Bank's possible or
assumed future financial condition and its results of operations, business
and earnings outlook. These forward-looking statements are subject to risks
and uncertainties. A number of factors, some of which are beyond the Bank's
ability to control or predict, could cause future results to differ
materially from those contemplated by such forward-looking statements.
These factors include (1) changes in accounting policies or procedures as
may be required by the Financial Accounting Standards Board or regulatory
agencies, (2) changes in interest rates, (3) significant changes in banking
laws or regulations, (4) increased competition in the Bank's markets, (5)
other-than-expected credit losses due to real estate cycles or other
economic events, (6) earthquake or other natural disasters affecting the
condition of real estate collateral or the business environment. In
addition, Management cannot predict at this time the extent of the recent
economic downturn and a slowing or worsening could adversely affect our
performance in a number of ways including decreased demand for our products
and services and increased credit losses. Likewise, changes in deposit
interest rates, among other things, could slow the rate of growth or put
pressure on current deposit levels. Forward-looking statements speak only
as of the date they are made, and the Bank does not undertake to update
forward-looking statements to reflect circumstances or events that occur
after the date the statements are made.
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Contact:
Promérica Bank
Maria Contreras-Sweet
Chairwoman
(213) 787-2802
John H. Quinn
CEO / President
(213) 787-2803
Frank E. Smith
CFO
(213) 787-2804
