PanAmerican BanCorp (PABN) - News Only Message Board

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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) - News Only

PABN 0.00001000

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Mar 7 3:00 PM EST

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To: jhild who wrote (122)	7/3/1999 8:45:00 AM
From: ColleenB	Read Replies (1) of 188

Company Update... July 2, 1999 From the desk of John Schmitz Several people have noted that the Internet conference looked disorganized and frenetic. I agree that trying to keep up with almost 300 people asking you question as all at once was difficult. By the time any answer was posted, several questions had passed. We are working on alterations for the next one, July 20, featuring Charles Vacarro of Insider Trading. Then in August we will have Ken Christian live, so all your questions about our financials can be addressed. I stated in the conference that I would elaborate on some points. I asked Leo Doyle to provide a brief outline of the steps involved in the licensing procedure of a thrift. He sent me the following and I hope it helps everyone to understand the magnitude of the task we are undertaking. I believe the file is about five or six inches thick right now and growing. Making an application for a federal thrift license is not a cut and dried process. Prior to actual licensing and approval by the appropriate regulatory bodies, many issues must be addressed and resolved. Only after submission of a full application and assurance of capitalization will licensure be considered. Finally, a federal thrift license is a privilege not an absolute right. Accordingly, refusal without reason is possible at any time before, during or after final submission. Some of the steps to accomplish during this process are as follows: Make contact with appropriate regulatory bodies. Begin application process through receipt of documentation from appropriate regulatory bodies. Create Business Plan for submission with Application. Create Marketing Plan for submission with Application. Create Community Reinvestment Lending Plan for submission with Application. Create demographic study to address geographical banking needs and identify competition. Create risk and lending parameters for inclusion into Application. Create general banking policies including lending strategies, pricing strategies, and deposit strategies. Design operational capabilities acceptable to applicable regulators. Address asset and liability issues (short term/long term). Proper capitalization. These represent only some of the challenges in starting a de-novo federal thrift. We have made progress in moving the process forward but much work remains to be done before the final application submission. In the near future we will be meeting with our designated regulatory office to review status, discuss timing and address potential concerns. We have not deviated from our implementation plan but we must remain flexible when dealing with an unknown commodity such as federal regulators.

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