United PanAm Financial Corp. Announces Share Repurchase

    NEWPORT BEACH, Calif.--Oct. 9, 2001--United PanAm Financial Corp. , today announced that, pursuant to authorization by the board of directors the company has repurchased 646,000 shares through Oct. 8, 2001. The board had authorized purchases of up to 750,000 shares.
    This move reflects our continuing confidence in the strength of our business and the long term value of our franchise," said Guillermo Bron, chairman and CEO of United PanAm Financial Corp.
    United PanAm Financial Corp., 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.