Americasbank (MM) (NASDAQ:AMAB)
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AmericasBank (NASDAQ:AMAB) announced today that William
J. Allen, a veteran mortgage, insurance and banking executive has
joined the bank. Mr. Allen will be a Senior Vice President and will be
responsible for the growth and development of the bank's mortgage
division.
Mark H. Anders, President and CEO, commented, "We appreciate the
synergies between the mortgage business and community banking. We also
appreciate that these are very different businesses and the
integration of the two is the key to achieving those synergies. Having
a veteran executive like Bill join us at this stage in our development
is essential to building a strong foundation to support future
expansion."
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.
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; risk of changes in
interest rates, deposit flows and loan demand; risks associated with
the lack of a credit facility; 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; operational risks of the leasing companies to which
AmericasBank has extended credit; dependence on third party vendors;
risk of insufficient capital; 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.