PanAmerican Bancorp Announces New Branch Opening in Boynton Beach, Florida

Business Wire, March 11, 2005

MIAMI -- PanAmerican Bancorp (AMEX:PNB), (the "Bank") a single bank holding company, today announced that it is opening a new office in Boynton Beach, Florida. Pan American Bank's goal is to be recognized as a significant community bank in South Florida. With the addition of the Boynton Beach office we now have 7 branch locations available to provide a wide array of financial solutions to the small business, professional and retail market segments in the Boynton Beach, Boca Raton, Hollywood and Miami/Dade communities.

Pan American Bank is poised to continue an aggressive expansion in South Florida as it represents one of the fastest growing regions in the U.S. Our goal is to provide the communities which we serve an opportunity to benefit from the financial management expertise, high quality customer service and timely response to all of our current and prospective clients.

Michael Golden, CEO of PanAmerican Bancorp, stated: "Our financial results continue to improve and we believe the opening of our new Boynton Beach office is a further validation of our commitment to building a strong Florida-based retail and small business banking operation. Additionally, our goals for 2005 are aggressive but well founded. We hope to increase our total assets to $265 million, total loans to $226 million, improve our net income to $2 million, or $0.16 per share and increase our return on equity to 6% The banking team that we have put together and the strong growth prospects for the region make these goals ambitious but attainable."

Pan American Bancorp

Based in Miami, FL, PanAmerican Bancorp is a single-bank holding company with PanAmerican Bank, a state-chartered, federal member bank engaged in a general commercial and consumer banking business, as the sole subsidiary of the company. For additional information, please visit our website at: http://www.panamericanbank.com.