Panama does not observe Daylight Savings Time.  So from roughly April – October, it is one hour behind the U.S. East Coast.  From November – March, Panama observes U.S. East Coast time.
 
Private business offices are open from 8:00 a.m. until 5:00 p.m., Monday through Friday, and Saturdays from 8:00 a.m. to 12 noon.  Banks are open from 8:00 a.m. to 3:00 p.m., Monday through Friday.  Most local banks open Saturdays from 9:00 A.M. to 12:00 Noon.  Government offices are open from 8:30 a.m. to 4:30 p.m., Monday through Friday.
 
All private, government, municipal, and U.S. Embassy offices are closed during local holidays.  In addition, the U.S. Mission observes all U.S. holidays.
 
2017 Panamanian holidays:

• January 1        New Year’s Day
• January 9        Mourning Day
• February 25    Carnival
• April 14              Good Friday
• May 16              Labor Day
• November 3    Independence Day from Colombia
• November 5    Colón Day
• November 10 The Uprising of Los Santos
• November 28  Independence Day from Spain (Observed Monday, Dec 2)
• December 8    Mother’s Day
• December 25  Christmas Day

Note: There is a large Jewish community, and several businesses observe Jewish holidays.