UNITED PANAM FINANCIAL CORP
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Name change date
United Pan Am Financial Corporation (UPFC) is a bank holding company for United Auto Credit Corporation (UACC), which engages in non-prime automobile finance. It manages the activities of its subsidiary through holding its securities or other equity interests for the purpose of owning a controlling interest or influencing the management decisions of this firm. The company was incorporated in 1998. Its head office in Newport Beach, California.
UPFC leads, directs and coordinates the operations of UACC. UACC is an auto finance company involved in the purchase, warehousing, securitization and servicing of automobile installment sales contracts originated by independent and franchised dealers. It has more than 130 offices in 34 states serving high-risk customers who have limited or impaired credit histories and generally cannot obtain financing from traditional lenders. UACC was established in February 1996 by Ray C. Thousand, its President & CEO (Chief Executive Officer).
Bank Holding & Holding Company
Description and history
The Company a specialty finance company, provides nonprime automobile finance. It engages in the purchasing, warehousing, securitization, and servicing of automobile installment sales contracts originated by independent and franchised dealers of used automobiles. The company’s customers include automobile dealers in the United States. UPFC was founded in 1994 and is based in Newport Beach, California.
The company’s common stock has been listed on The NASDAQ Global Market under the symbol UPFC since their initial public offering in 1998.
United PanAm Financial Corp. was incorporated in California on April 9, 1998 for the purpose of reincorporating its business in California, through the merger of United PanAm Financial Corp., a Delaware corporation, into the Company. Unless the context indicates otherwise, all references to the Company include the previous Delaware corporation. The Company was originally organized as a holding company for PAFI, Inc. and Pan American Bank, FSB to purchase certain assets and assume certain liabilities of Pan American Federal Savings Bank.
On April 22, 2005, PAFI was merged with and into the Company, and United Auto Credit Corp. became a direct wholly-owned subsidiary of the Company. Prior to its dissolution on February 11, 2005, the Bank was a direct wholly-owned subsidiary of PAFI, and UACC was a direct wholly-owned subsidiary of the Bank.
On September 2, 2005, BVG West Corp. was merged with and into UPFC Sub I, Inc., a direct wholly-owned subsidiary of the Company. In this merger, the former stockholders of BVG received the same number of shares of our common stock which BVG owned prior to the merger, based on percentages that such stockholders indirectly owned such shares through BVG immediately prior to the effective time of the merger. The Company s total outstanding shares did not change as a result of the merger, nor did the underlying beneficial ownership of those shares.
At December 31, 2006, UACC was a direct wholly-owned subsidiary of the Company, and UPFC Auto Receivables Corporation , UPFC Auto Financing Corporation and UPFC Funding Corporation were direct wholly-owned subsidiaries of UACC. UARC and UAFC are entities whose business is limited to the purchase of automobile contracts from UACC in connection with the securitization of such contracts and UFC is an entity whose business is limited to the purchase of such contracts from UACC in connection with warehouse funding of such contracts.
On June 4, 2009, the Board of Directors of the Company (“UPFC”) adopted a resolution to cause the listing of the UPFC Common Stock to be withdrawn from the NASDAQ Global Select Market (“NASDAQ”). UPFC is eligible to deregister its securities because it has fewer than 300 holders of record.
A bank holding company for United Auto Credit Corporation (UACC), which engages in non-prime automobile finance
PAN AMERICAN BANK, FSB
US SIC Code
3990 Westerly Place, Ste 200
City province or state postal code
92260, NEWPORT BEACH, CA
Phone: 1 (949) 224 19 17
Fax: 1 (949) 224 19 10
Country address: UNITED STATES OF AMERICA
Website url: www.upfc.com