United PanAm Financial Corp. Announces Share Repurchase

    NEWPORT BEACH, Calif.--Sept. 24, 2001--Following on UPFC's repurchase last week of 140,000 shares of the company's common stock, the company today announced that it intends to repurchase up to an additional 140,000 shares of common stock prior to Sept. 28, 2001.
    "This move is a further indication of our belief in the long-term value of our franchise and in the financial services industry generally," said Ray Thousand, president of United PanAm Financial.
    United PanAm Financial, a diversified specialty finance company, originates and acquires for investment retail automobile installment sales contracts and automobile insurance premium finance contracts.
    The company's principal operating units include Pan American Bank, FSB, the largest Hispanic-controlled savings association in California, with four retail branch offices in the state and $383 million in deposits at June 30, 2001; United Auto Credit Corp. with 39 branch offices in 21 states; and the insurance premium finance division, which through a joint consolidated venture, is the largest non-insurance provider of financing for consumer automobile insurance premiums in California.