The government owned Territorial Bank of American Samoa, or TBAS, has taken over car loan portfolios from local car dealers, boosting the bank's loan activities.
It is now a year since the bank opened but is still having difficulty securing a US federal government "transiting routing number", which would allow it to provide services such as cheques.
The bank's chairman, Utu Abe Malae, told a Senate committee this week the bank's plan is that in three-years the local government would relinquish its controlling share and the bank will operate in the private sector.
But he said obtaining the routing number was key.
Meanwhile he said handling the car loans was beneficial for all parties because the car dealers do not want to be acting as banks.