Prior to the Asia Minor disaster of 1922 and the enforced exchange of populations, Panormos was home to 2000 Greeks. The Greek community had four churches, 11 primary schools for boys, two for girls and a junior high school for boys. They relocated mostly to Macedonia in northern Greece.
Presently, Panormos has a population of 113,000 inhabitants and belongs to the Balikesir district. Its seaport serves as a stopover between Izmir and Istanbul.