Americasbank (MM) (NASDAQ:AMAB)
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AmericasBank Corp. (Nasdaq:AMAB), the parent company of AmericasBank,
today announced the dismissal of Mark H. Anders as President and Chief
Executive Officer of the Company and the Bank. The Company has appointed
A. Gary Rever as acting Chief Executive Officer of the Company and
AmericasBank effective immediately. Further, Ellen R. Fish has been
promoted to Director of Community Banking and will have responsibility
for our banking centers in Towson and Annapolis. Eric W. Edstrom will
continue to lead the expansion efforts in Annapolis.
Gary Rever came to AmericasBank in August 2003 as Chief Financial
Officer and guided the institution through the process leading to
reinstatement as a public company. He also managed two successful
capital raising efforts for $5 million in 2004 and $11 million in 2006. “Gary
has 30 plus years in banking and industry experience and a strong
background in financial management and operations,”
commented Lee Warner, Chairman. “We are
fortunate to have someone with Gary’s diverse
background and experience to step in and lead us forward.”
Ellen Fish has worked in banking in Towson and Baltimore since moving to
the area in 1984, and joined AmericasBank in May 2007 as the President
of the Towson Community Bank, which operates as a division of
AmericasBank.
“Ellen is a well respected banker and
community leader,” said Lee Warner.
Ellen served as Senior Vice-President, Commercial Banking, at Provident
Bank, a post she held from 1997 until joining Towson Community Bank.
While at Provident, she held management positions for small business
banking, middle market banking, Provident Lease Corp, and private
banking.
As founder and Chairman of the Board for the Baltimore County Small
Business Resource Center, Ellen has worked closely with small
businesses. She is involved with the College of Business and Economics
at Towson University where she serves as a member of the College’s
Advisory Board. She is a past Chairman of the Board of the Baltimore
County Chamber of Commerce and currently a member of the board of the
Maryland Chamber of Commerce. Ellen was named one of Maryland’s
Top 100 Women by The Daily Record for the third time in 2008 and will be
inducted into their Circle of Excellence in May.
“Ellen Fish is an excellent banker with high
quality service standards,” commented A. Gary
Rever. “Her knowledge and discipline will
serve her well in her expanded leadership role as we continue to pursue
our community banking strategy.”
About AmericasBank Corp.
AmericasBank Corp. is the parent company of AmericasBank, a
Maryland-chartered commercial bank headquartered in Towson, Maryland.
AmericasBank is dedicated to contributing to the growth and prosperity
of the communities it serves, with a special focus on serving the needs
of the business community and promoting home ownership. AmericasBank
operates its banking center in the Towson, Maryland market under the
trade name of Towson Community Bank, and the banking center in the
Annapolis, Maryland market as Annapolis Community Bank.
The statements in this press release that are not historical facts
constitute "forward-looking statements" as defined by Federal Securities
laws. Such statements, regarding AmericasBank Corp.'s anticipated future
results of operations, are subject to risks and uncertainties that could
cause actual results to differ materially from future results expressed
or implied by such forward-looking statements. Potential risks and
uncertainties include, but are not limited to: the risk that
AmericasBank Corp. may continue to incur losses; the possible loss of
key personnel; the inability to successfully implement strategic
initiatives; risk of changes in interest rates, deposit flows and loan
demand; risk associated with having a large percentage of residential
real estate loans secured by investment properties; risk of an industry
concentration with respect to deposits; risk of credit losses; risks
associated with residential mortgage lending, including acting as a
correspondent lender; risk associated with a slowdown in the housing
market or high interest rates; the allowance for loan and lease losses
may not be sufficient; operational risks of the leasing companies to
which AmericasBank has extended credit in connection with the lease
portfolio; dependence on third party vendors; risk of possible future
regulatory action as a result of past violations of the Real Estate
Settlement Procedures Act; as well as changes in economic, competitive,
governmental, regulatory, technological and other factors that may
affect AmericasBank Corp. or AmericasBank specifically or the banking
industry generally. Forward-looking statements speak only as of the date
they are made. AmericasBank Corp. will not update forward-looking
statements to reflect factual assumptions, circumstances or events that
have changed after a forward-looking statement was made. For further
information, please refer to the AmericasBank Corp.'s filings with the
U.S. Securities and Exchange Commission and available at their web site www.sec.gov.