SOURCE: Promerica Bank

Promerica Bank

November 24, 2009 15:16 ET

Promerica Bank Celebrates 3rd Anniversary and Honors Its Founding Organizers

LOS ANGELES, CA--(Marketwire - November 24, 2009) - 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


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.

Contact Information

  • Contact:
    Promérica Bank
    Maria Contreras-Sweet
    (213) 787-2802

    John H. Quinn
    CEO / President
    (213) 787-2803

    Frank E. Smith
    (213) 787-2804