Pan American Bank & Trust is a U.S. privately held community bank based in Melrose Park, Illinois.
The bank is insured by the Federal Deposit Insurance Corporation and as of 2019 it had $316 million in assets and $288 million in deposits.FDIC_ BankFind. Pan American Bank. Financials. Fdic.gov. July 27, 2017. Retrieved July 27, 2017. The bank is wholly owned by American Bancorp of Illinois, Inc., a bank holding company duly registered with the Federal Reserve System.Annual Report of Holding Companies—FR Y-6 for American Bancorp of Illinois, Inc. (PDF). Chicagofed.org. December 31, 2013. Retrieved October 2, 2014. It has six offices in and around Chicago, IL: Melrose Park, Bellwood, Bloomingdale, Palatine, Little Village and Sauganash in Chicago.Locations & Hours. Panamerbank.com. Retrieved October 3, 2014.
The bank is a full service community bank offering deposit and loan services to the communities it serves. According to the FDIC, in CRA Evaluations released on January 1, 2013, and March 1, 2007, the bank has done an “outstanding” job of meeting the credit needs of its communities, a recognition received by less than 7% of the nation's banks in 2014.FFIEC Interagency CRA Rating Search. Retrieved January 28, 2015. The evaluation by the FDIC was based on the bank's record of lending to small businesses and providing home mortgages and took into consideration the bank's record of lending in low and moderate income areas and loans to persons of low and moderate income.FFIEC CRA Examinations. Retrieved January 28, 2015.
History Pan American Bank & Trust was established in 1995 and was acquired by American Bancorp. of Illinois, Inc. in 2007.Daniels, Steve. “After hit from regulators, Goodwin’s Inland Bank is growing again.” September 6, 2014. Retrieved October 2, 2014
Pan American Bank & Trust has been designated as a Community Development Financial Institution (“CDFI”).Community Development Financial Institutions Fund, United States Department of the Treasury, Awardees/Allocatees. This designation means that Pan American Bank & Trust has been recognized by the Community Development Financial Institution Fund, administered through the U.S. Department of Treasury, as being committed to the goals of economic development, affordable housing, and community development financial services.Community Development Financial Institutions Fund, United States Department of Treasury, CDFI Certification. In recognition of its commitment to these goals, Pan American Bank & Trust has received an award from the CDFI Fund in the years 2008 through 2014.Community Development Financial Institutions Fund, United States Department of the Treasury, Awardees/Allocatees.
Growth Since 2007 the bank's total assets have increased from $33 million to $316 million.FDIC Key Demographic Information. Pan American Bank. ID Report Selections: Assets and Liabilities. Report Date: June 30, 2014 and June 30, 2007. Dollars. Fdic.gov. September 30, 2014. Retrieved January 15, 2015. In 2007, the bank held $229,000 in deposits from states and political subdivisions, but as of June 30, 2014 it held $49 million, or 20% of total deposits.FDIC Key Demographic Information. Pan American Bank. ID Report Selections: Total Deposits. Report Date: June 30, 2014 and June 30, 2007. Dollars and Ratios. Fdic.gov. June 30, 2014. Retrieved October 3, 2014.
Pan American Bank & Trust acquired the $49 million Bank of Palatine in September 2014.Daniels, Steve. “After hit from regulators, Goodwin’s Inland Bank is growing again.” September 6, 2014. Chicagobusiness.com. Retrieved October 2, 2014.
Pan American Bank & Trust was selected by the nationally renowned industry publication, American Banker, as one of the Best Banks To Work For in 2018 nationwide.
Leadership Chairman, Nicholas S. Giuliano, formerly of The PrivateBank, and President and CEO, Frank C. Cerrone, formerly of the International Bank of Chicago, lead Pan American Bank & Trust.Bank Directors. Panamerbank.com. Retrieved October 3, 2014.
Politics Pan American Bank & Trust has contributed $124,178 to 50 Illinois politicians or political committees from 2008 through 2014.Illinois State Board of Elections. Pan American Bank. Elections.il.gov. Retrieved October 3, 2014. Recipients include the Mexican American PAC, the West Central Municipal Conference, the Italian-American Political Coalition, the Bellwood First Party, the Independent Citizens Action Party of Franklin Park, and the Illinois Bankers Association PAC.Illinois State Board of Elections. Pan American Bank. Elections.il.gov. Retrieved October 3, 2014.
In September 2010, Democratic State Treasurer candidate Robin Kelly accused her opponent, then-Republican state Sen. Dan Rutherford, of violating state law by receiving a campaign contribution from Pan American Bank & Trust worth $500 while Pan American bid on a contract worth more than the law's $50,000 cap.“Bloomington bank's campaign contributions at center of political dust-up.” Pantagraph.com. September 9, 2010. Retrieved October 6, 2014. Rutherford later returned contributions from Pan American Bank & Trust.“Democrats keep Quinn out of the picture.” Herald-review.com. September 26, 2010. Retrieved October 3, 2014.
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