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; FEDERAL RESERVEpress release
For immediate releaseJanuary 13,1997The Federal Reserve Board today announced the executionof a Written Agreement by and among The Pan American Bank, Miami,Florida, the Federal Reserve Bank of Atlanta, and the Departmentof Banking and Finance, Division of Banking, State of Florida.A copy of the Written Agreement is attached.Attachment
 
DNITED
STATES
OF
AMERICA
BEFORE THE BOARD
OF
GOVERNORS
OF TEE FEDERAG
RESERVE SYSTEMWASHINGTON, D.C.STATE OF FLORIDADEPARTMENT
OF
BANKING AND FINANCEDIVISION
OF
BANKINGTALLARASSER, FLORIDA
Written Agreement by and among; Docket No. 96-018-WA/RB-SM
)
THE PANAMERICANBANEMiami, FloridaFEDERAL RESERVE BANEOF ATLANTAAtlanta, GeorgiaDEPARTMENT OF BANKING ANDFINANCE, DIVISION OFBANKING, STATE OF FLORIDATallahassee, FloridaAdministrative Proceeding No.:3517-b-5/96WHEREAS, in recognition of their common goal tomaintain the f,inancial oundness of the Pan American Bank, Miami,Florida (the "Bank"), a state member bank, the Federal ReserveBank
of
Atlanta (the "Reserve Bank"), the Department of Bankingand Finance, Division
of
Banking of the State of Florida (the"Department") and the Bank have mutually agreed to enter intothis Agreement;
 
-2-WHEREAS, this Agreement is being executed in accordancewith the Rules Regarding Delegation of Authority of the Board ofGovernors of the Federal Reserve System (the "Board ofGovernors"),specifically 12 C.F.R. 265.11(a) 151, and theReserve Bank has received the prior approval of the Director ofthe Division of Banking Supervision and Regulation (the"Director") and the General Counsel of the Board of Governors toenter info this Agreement with the Bank; andWHEREAS, on /Th?
,
1996, the board of directors
of
the Bank adopted a resolution authorizing and directing
Hans C.
Mueller, Chief Executive Officer of the Bank, to enterinto this Agreement on behalf of the Bank and consenting tocompliance with each and every provision of the Agreement by theBank and its institution-affiliated arties, as defined insection 3(u) of the Federal Deposit Insurance Act, as amended(the "FDI Act") (12 U.S.C. 1813(u)).NOW, THEREFORE, before the taking of any testimony oradjudication of, or finding on,any issue of law or fact herein,and without this Agreement constituting an admission of anyallegation made or implied by the Board of Governors, the ReserveBank or the Department,the Bank, the Reserve Bank and theDepartment agree as follows:
of 00

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