Guam - Just as it celebrates its 41st anniversary, the Guam Legislature recognized the Bank of Guam today as being the island's first locally-chartered and locally-owned financial institution and for its generous contributions to Guam.

President Lou Leon Guerrero thanked lawmakers for the resolution presentation, saying, "Without the support of government, and without the support of the community and of course the Legislature, I don't think we would have been as successful as we are today. We went from a million dollars in assets to now over $1.2 billion."

Leon Guerrero added that when her father, Jesus Leon Guerrero, started the bank there were no real banking codes, but after working closely with the Legislature, they were able to create the Banking Code of Guam. Bank of Guam meanwhile has over 400 employees with 24 branches throughout Micronesia.