[Congressional Record Volume 143, Number 43 (Monday, April 14, 1997)]
[Extensions of Remarks]
[Page E647]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 THE BANK OF GUAM: 25 YEARS OF EXCELLENT SERVICE TO THE PEOPLE OF GUAM

                                 ______
                                 

                        HON. ROBERT A. UNDERWOOD

                                of guam

                    in the house of representatives

                         Monday, April 14, 1997

  Mr. UNDERWOOD. Mr. Speaker, responsibility, service, commitment--
these noble words are fitting descriptions for the role Bank of Guam 
has played on Guam for the past 25 years. Chartered for operation on 
March 13, 1972, the Bank of Guam was the brainchild of Mr. Jesus S. 
Leon Guerrero, cofounder and chairman of its board of directors, and 
the late Mr. Jose L.G. Untalan.
  Out of concern for the people of Guam, Mr. Leon Guerrero and Mr. 
Untalan decided to take on the responsibility of establishing a full 
service banking institution tailoring to the needs of island residents. 
Not only did they see this type of institution sorely lacking on Guam, 
as pioneering businessmen, they were also driven by a desire to service 
their island community utilizing their business acumen.
  December 11, 1972, was opening day for Mr. Leon Guerrero, Mr. 
Untalan, and 13 staff members. From its humble beginnings in the Santa 
Cruz area of Agana to branches in Saipan, Rota, Tinian, Chuuk, Pohnpei, 
Majuro, Ebeye, Kwajalein, Palau, and San Francisco, the Bank of Guam 
has expanded to tremendous proportions. Their services range from full 
service banking, to ATM machines, to investment opportunities, to home 
banking. Currently managed by a cadre of business professionals 
following in the footsteps of the two founders, the Bank of Guam is 
fulfilling its promise to the people of Guam and to the people of 
Micronesia as a responsible banking institution.
  In conjunction with the hallmarks of responsibility and service, Bank 
of Guam is also known for its sincere commitment to the community as a 
whole. This commitment has made it possible for its successful 
operation during these past 25 years. With competent staff members and 
an experienced board of directors, Bank of Guam is leading the banking 
community in our region into the 21st century.
  Mr. Speaker, although this is a mere outline of Bank of Guam's 
numerous accomplishments, one can clearly comprehend the overwhelming 
positive impact this institution has had, and will continue to have, on 
the people of Guam and Micronesia. On this occasion of their silver 
anniversary, I am submitting this Record as testimony of their 
significant achievements. For 25 years, the Bank of Guam has faithfully 
served our island communities, and I believe that it will continue to 
provide excellent services. In the words of Mr. Jesus Leon Guerrero, 
``There are two fundamental reasons why I wanted to take the risk in 
starting the Bank of Guam. No. 1, provide a service to the community 
that was not available, and then two, back up that service with a 
commitment to take care of our people.'' The Bank of Guam has proven 
itself numerous times with respect to this philosophy.
  Congratulations to the Bank of Guam for 25 years of dedicated service 
to the community. The legacy which the original pioneers--Jesus S. Leon 
Guerrero and Jose L.G. Untalan--left behind will continue to be strong, 
vibrant and beneficial to the people of Guam for generations to come. 
We have every confidence that current president, Tony Leon Guerrero, 
and his excellent staff will build on that legacy.
  In Chamorro we refer to the Bank of Guam as Bangkon Ifet--the Bank of 
Ifil. Ifil is the hardest wood which can be found in Guam. The Bank of 
Guam has become synonymous with the strength and durability which the 
ifil tree represents. More importantly, both the Bank of Guam and the 
ifil tree represent growth from the soil and soul of Guam. Si Yu'os 
Ma'ase Bangkon Ifet.

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