Pan American Bank (Los Angeles) Congratulates Stewards of Supplier Diversity

EAST LOS ANGELES, Calif.--(BUSINESS WIRE)--Pan American Bank (Los Angeles) today congratulated the stewards of successful supplier diversity efforts. According to Pan American Bank, a minority- and women-owned bank and California’s oldest Latino-owned bank, supplier diversity programs have improved business and economic opportunities for minority, women, and service-disabled veteran business enterprises – especially during the current economic downturn.

“Successful organizations recognize the importance of supplier diversity. By creating sound business relationships, these organizations strengthen economic development and viability while providing a value-added strategy that increases competition.”

“Supplier diversity programs ensure that minority- and women-owned businesses, such as Pan American Bank, are included in the procurement process of large and influential enterprises within our business community. These programs establish a connection between large businesses and the minority-, women-owned and service-disabled business community, as well as, state and federal agencies,” said Pan American Bank CEO Jesse Torres. “Successful organizations recognize the importance of supplier diversity. By creating sound business relationships, these organizations strengthen economic development and viability while providing a value-added strategy that increases competition.”

Successful supplier diversity programs continually look for opportunities to work with suppliers in all aspects of their business including financial services. Successful supplier diversity programs establish aggressive yet achievable goals for working with minority-, women-owned and service-disabled businesses.

“Pan American Bank has been a Latino- and women-owned bank for over 45 years. Our longstanding history is evidence of our commitment to successfully serving our customers and the community. However, we acknowledge that our success has also been positively influenced through the participation of large commercial and governmental enterprises working with us through their supplier diversity initiatives,” said Mr. Torres.

“Apart from traditional financial services such as checking, savings and CD accounts, Pan American Bank offers other essential products and services such as on-site ATM deployment, cash management services, prepaid debit cards, payroll cards and credit card/merchant processing. While we operate as a community bank, our technology provides for significant scalability and capability. Our investment in technology has allowed us to provide the same products and services offered by larger organizations.”

Established in 1964, Pan American Bank is California’s oldest Latino-owned bank. Headquartered in East Los Angeles, Pan American Bank serves the needs of the Latino communities in Los Angeles and Santa Ana. Founded by former U.S. Treasurer Romana Acosta Banuelos, the Bank has stayed true to its mission of transforming and empowering Latino communities through banking relationships built on trust, service, respect, communication, and guidance. Pan American Bank's Facebook page can be found at http://bit.ly/pab-facebook. The Bank’s blog is found at http://PanAmericanBank.blogspot.com. Pan American Bank can be followed on Twitter as @PanAmericanBank.