American Bank Online Announces ATM Surcharge Refund Program

CONTACT: Mark W. Jaindl, President and Chief Executive Officer
Allentown, PA, September 15, 1999

American Bank Online has unveiled a program to refund customers for ATM surcharges imposed by other financial institutions.

As an Internet bank serving the entire United States from one location, it is important to provide customers the ability to use other ATM’s without incurring high costs. Customers of American Bank may face a surcharge, a fee assessed by the owner of an ATM, when they withdraw funds from other bank’s machines. American Bank will offset those fees with a rebate of up to $5.00 per month.

“Customers of American Bank enjoy a significant advantage … an absence of service and “nuisance” fees typically imposed by traditional banks,” said Mark Jaindl, President and CEO. “ATM surcharges run contrary to our vision of financial services, so we’re helping our customers to eliminate them.”

Personal customers are eligible to receive a rebate of $1.00 per transaction, up to $5.00 per statement cycle period, for foreign ATM withdrawals made from an e-Checking Account. A customer must maintain a modest average balance of at least $750 during a statement cycle period to receive the cumulative rebate.

The e-Checking Account pays 6.25% APY on balances up to $10,000, and continues to pay a highly competitive APY on higher balances. “We believe that the e-Checking Account at 6.25% APY, combined with our ATM Surcharge Refund Program and free Online Bill Payment, represents the absolute best checking account in the United States,” stated Mr. Jaindl.

About American Bank

American Bank is a locally-owned community bank based in Allentown, PA. American Bank is recognized as a 5-Star Superior rated financial institution (the highest rating possible) by Bauer Financial Inc., designating it as one of the strongest banks in the nation as well as being named one of the safest banks in the nation by MSN Money. American Bank was ranked #1 by the Morning Call’s Top Workplaces in the Lehigh Valley and has been named one of the Best Places to Work in Pennsylvania.

American Bank offers a complete selection of banking products and services to suit the needs of consumers and businesses and includes checking, money market, savings, certificates of deposit, consumer and commercial loans and Visa credit cards. Dedicated to providing customers superior, personalized customer service, American Bank also offers some of the best loan and deposit rates available and as a result, for the past 12 years, has received the® Top Tier award for consistently offering annual percentage yields (APYs) that were among the highest reported. Their online banking service, AmericanBank Online, which is accessible from the Bank’s website at, allows customers to bank conveniently and delivers a full range of real-time online banking services free of charge including online bill payment and presentment, ACH Direct, transfers between accounts, transaction history, check images and e-Statements. In addition, both consumer and business customers can bank on the go using mobile banking which includes mobile deposit. American Bank is FDIC insured and is an Equal Housing Lender.

AmericanBank Online is a registered trade mark for the Internet financial services provided by American Bank, a state-chartered, FDIC-insured, full-service financial institution serving customers throughout the United States. American Bank is a member of the Federal Reserve System.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

Statements in this press release regarding American Bank's business which are not historical facts, including expectations regarding future financial results, are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from such statements.