CALABASAS, Calif., March 4, 2015 (GLOBE NEWSWIRE) -- Horgan, Rosen, Beckham & Coren, L.L.P., served as legal counsel to Pan American Bank (OTCQB:PAMB) in the negotiation and drafting of the definitive agreement recently announced regarding the merger of Pan American with Finance and Thrift Company (F&T), a wholly owned subsidiary and the principal operating unit of F&T Financial Services, Inc. (OTCQB:FTFS). F&T and Pan American are both certified as Community Development Financial Institutions serving low and moderate income consumers and businesses with a strong concentration and presence in the Hispanic community for over half a century. It is anticipated that as result of this merger the combined entity will have approximately $161 million in assets, deposits of $121.5 million and total tangible equity of approximately $35.9 million.
This merger was negotiated on behalf of Pan American by the corporate and banking team of Horgan, Rosen, Beckham & Coren, L.L.P., led by partners Arthur A. Coren and Khoi D. Dang. Horgan, Rosen, Beckham, & Coren, L.L.P. assisted Pan American Bank, N.A, the oldest Hispanic community bank in the Western United States, in its recapitalization in November 2014. That transaction was unprecedented in the United States banking industry as it brought together 17 competing banks that rallied to raise the capital to save one of its peer banks. That recapitalization helped to reinforce Pan American's structure and solidify its future growth and presence in the Southern California banking community.
"Our firm is proud to have played a role in the continued revitalization of Pan American and to assist in fulfilling its mission of serving the low-to-moderate income families and the Hispanic Community of California," said Mr. Coren.
Horgan, Rosen, Beckham & Coren, L.L.P. specializes in the representation of community banks and their holding companies throughout the western United States and has been ranked by SNL Financial as the #1 law firm on the West Coast for Financial Institutions Mergers and Acquisitions two years in a row and in the top 10 in branch purchase and assumption transactions. Horgan, Rosen, Beckham & Coren, LLP continues to be recognized by SNL Financial as among the top corporate and banking law firms on the West Coast. For all business inquiries please contact Arthur A. Coren at (818)591-2121.
CONTACT: ARTHUR A. COREN HORGAN, ROSEN, BECKHAM & COREN L.L.P. CALABASAS, CA (818) 591-2121Source:Horgan, Rosen, Beckham & Coren L.L.P.