Pan American Bank

3626 E. 1^st St

Los Angeles, CA 90063

In 1964, US Treasurer Ramona Acosta Bañuelos founded the Pan American Bank with the goal of providing financial services to the underserved East Los Angeles Latino community. The exterior of the bank is reminiscent of the decade in which its doors first opened and with the newly restored mosaic titled “Our Past, Our Present, Our Future,” Pan American retains its commitment to the Latino history and culture that led to its creation.

The Pan American Bank was established in the predominantly Latino East Los Angeles community because of exclusionary banking practices that did not provide Latinos with the opportunity to access much needed financial services. The exclusionary practices of Bank of America, Wells Fargo, and other large banks provided limited access to home loans. The residents that were approved were issued loans with high interest rates that were higher than those issued to white borrowers. Since the 1930s banks redlined certain areas within the city, including East LA, as neighborhoods eligible for only a limited amount of loans. This drastically reduced the possibility of homeownership within the East LA community. These practices were fueled by the belief that Latinos lowered the property value of middle-class white neighborhoods. Banks also scrutinized the work and credit histories of Latino applicants in order to identify reasons to deny their loan application. This type of discrimination combined with the history of the formation of East Los Angeles helped lay the foundation that allowed Pan American Bank to become a prominent and accessible banking institution within the community. The bank promotes its commitment to the community by providing bilingual assistance to its clientele and incorporating Latino culture and history in its services.

During the 2008 recession, Pan American Bank was able to remain a solid financial services provider for East LA residents. They have remained committed to offering their customers affordable loans, even when presented with credit and work histories that most banks would be hesitant to accept.

The mosaic located on the façade of the bank helps to reaffirm the culture and history of the community. Each of the four main panels focuses on the past and future of Latinos in Los Angeles. This mosaic displays the strong sense of pride and connection that residents have with their past and the history of oppression they faced in their home countries and the US. The restoration of the mosaic highlights the importance that this piece of artwork has on inculcating a sense of pride in Latino heritage.

The bank is located on a busy street, flanked by small businesses on its sides, with residential housing behind it. Small businesses and residents are Pan American Bank’s main clients; therefore their prime location is no accident. Members of the East LA community who live in the area because of its affordability and community atmosphere find comfort in the strong presence that Pan American has within the city. It is a bank that accepts and welcomes their culture, history, and customs because the struggles of Latinos in Los Angeles are what led to its creation. The housing restrictions that pushed Latinos into the Eastside, the influx of Latino immigrants, and the community building that took place in East LA helped to form the perfect environment for Pan American to flourish.

The success that Pan American Bank has experienced in East Los Angeles allowed for it to establish another branch within East LA as well as another located in Santa Ana. Even with this expansion Pan American remains committed to servicing the Latino community.

For more information:

Delgado, Melvin, and Keva Barton. "Murals in Latino Communities: Social Indicators of Community Strengths." Social Work 43:4 (1998): 346-56.

Nixon, Ron. "Application Denied: Do Lending Institutions Overlook Hispanics?" Hispanic 11:30 (1998).  

Sturdivant, Frederick D. "Business and the Mexican-American Community." California  Management Review 11:3 (1969): 8.