AmericasBank Expands Loan Production in Frederick
19 July 2006 - 1:53AM
Business Wire
AmericasBank Corp. (NASDAQ:AMAB), the parent company of
AmericasBank, today announced the expansion of its commercial and
residential mortgage loan production in central Maryland with the
addition of four loan origination officers and a loan production
office in Frederick, MD. AmericasBank has leased space at 100 North
Court Street in Frederick's historic district. "We like the
opportunities we see in central Maryland, nearby West Virginia and
south central Pennsylvania and this office will give us an
opportunity to assess these markets from a banking center
perspective," commented Mark H. Anders, President and CEO of
AmericasBank. AmericasBank raised an additional $11 million in
capital in a public offering in March 2006 and plans to expand by
opening three to five banking offices in selected business and
government centers in the greater Baltimore-Washington corridor and
central Maryland. 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; the inability to successfully implement
strategic initiatives; risk of changes in interest rates, deposit
flows and loan demand; risks associated with AmericasBank's lending
limit; 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; 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 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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