Bla, bla, bla...... No ill feeling towards Panamanian Banks, but they do NOT want your business. What they have learned from Americans is; "It's not our fault, they made us do it...." If Panamanian banks wanted American business, expats with PA pencionado or Cedula ID, would walk in, show proper identification including tax ID, they could check it out, they have the where-with-all. No letters from big daddy at your hometown bank, or months of previous depository data. 'Just the facts!'
I'm not trying to hide anything, so a Panamanian bank account would only serve to do transfers for local accounts such as utilities or mortgage/rent, or to pull cash. A US citizen could, establish a Charles Schwab checking account, pull cash locally and get the $5.25 charged by banks refunded, as well as no foreign exchange fees.
"Just the FACTS mam...." It is what it is, all in all, I'd still rather be here and put up with their requirements. Best to all!