PanAmerican Bank of Miami has received regulatory approval to change its name to Sun American Bank, and it began trading under the new ticker symbol SBK on Monday.
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Michael Golden, the bank's chairman and chief executive, said Friday in a press release, "The name is more dynamic in nature and reflects more correctly the new business plan of the bank, which among other things, is to grow the bank north into Broward, Palm Beach, and Martin counties."
In December shareholders of the $244 million-asset bank voted overwhelmingly to approve the name change. The holding company also has a new name: Sun American Bancorp.
