Re the thrift application, I was perusing a Long Island newspapers this evening and ran across this item. Looks to me like the local paper called Schmitz for a follow-up quote on the PR. Did you know the company expected the thrift to be up and running before the millennium? Darn that lawyer...what's his name - Doyle? Didn't he turn in the application?
From a Mar. 19, 1999 note:
Taking another step in its goal to become an online
thrift bank, Pan American Bancorp, of Hauppauge, recently
announced a joint venture agreement with Norristown,
Penn.-based FirstStates Financial Services, a credit
and risk management company.
Under the terms of the agreement, the two companies have
filed to form a federally chartered financial thrift
institution and plan to offer a wide variety of
financial services, including nationwide mortgages, CDs,
and other banking services.
John Schmitz, CEO of PanAmerican, said he expects the
online service to be up and running between six and nine
months.
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