[Congressional Record Volume 148, Number 5 (Tuesday, January 29, 2002)]
[Extensions of Remarks]
[Pages E47-E48]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               THIRTIETH ANNIVERSARY OF THE BANK OF GUAM

                                 ______
                                 

                        HON. ROBERT A. UNDERWOOD

                                of guam

                    in the house of representatives

                       Tuesday, January 29, 2002

  Mr. UNDERWOOD. Mr. Speaker, in Chamorro, we refer to the Bank of Guam 
as Bangkon Ifit (the Bank of Ifil). Ifil is the hardest wood that can 
be found on Guam. The Bank of Guam has become synonymous with the 
strength and durability that the ifil tree represents. More 
importantly, both the Bank of Guam and the ifil tree represent the soil 
and soul of Guam.
  Responsibility, service and commitment are words that aptly describe 
the Bank of Guam with regard to our island and the Western Pacific. 
Chartered for operation on March 13, 1972, the Bank of Guam was a life-
long dream of Mr. Jesus S. Leon Guerrero, the institution's founder and 
Chairman of its Board of Directors.

[[Page E48]]

  With an abiding concern for the people of Guam, Mr. Leon Guerrero was 
determined to establish a responsive, full service banking institution 
to meet the unique and specialized needs of island residents. Not only 
did he perceive this type of institution to be sorely lacking on Guam; 
as a pioneering businessman, he was also driven by a desire to serve 
his community by utilizing his considerable business acumen.
  December 11, 1972, was opening day for the Bank of Guam and its 
thirteen original staff members. From its humble beginnings in the 
Santa Cruz area of Hagatna through its expansion with branches in 
Saipan, Rota, Tinian, Chuuk, Pohnpei, Majuro, Kwajalein, Palau and San 
Francisco, the Bank of Guam has progressed at a truly impressive pace. 
The Bank's services range from full service banking, ATM machines, 
investment opportunities and even home banking. Currently managed by a 
cadre of business professionals following in the footsteps of their 
founder, the bank is fulfilling its promises 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, the 
Bank of Guam is also known for its sincere commitment to the community 
as a whole. This commitment has made its successful operation possible 
during these past thirty years. With competent staff members and an 
experienced Board of Directors, the Bank of Guam is leading the banking 
community of the region into the 21st century.
  Although this is a brief overview of the Bank of Guam's numerous 
accomplishments, one can understand the overwhelming positive impact 
this institution has had, and will continue to have, on the people of 
Guam and Micronesia. For thirty years, the Bank of Guam has served our 
island communities. I am sure that it will continue to provide 
excellent services. In the words of Jesus S. Leon Guerrero, ``There are 
two fundamental reasons why I wanted to take the risk in starting the 
Bank of Guam. Number one, provide 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 had proven on innumerable 
times it's commitment to this philosophy.
  I offer my congratulations to the Bank of Guam for thirty years of 
dedicated service to the community. The legacy that Jesus S. Leon 
Guerrero has created will continue to be strong, vibrant and beneficial 
to the people of Guam for generations to come. We have every confidence 
that the Bank's current president, Anthony Leon Guerrero, and his 
excellent staff will continue to build upon this legacy.
  Si Yu'os Ma'ase Bangkon Ifit.

                          ____________________