AmericasBank Hires New Mortgage Division Executive
07 April 2006 - 11:43PM
Business Wire
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.
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