CONTACT: Mark W. Jaindl, President and Chief Executive Officer
Allentown, PA, July 20, 2012
American Bank Incorporated (OTC BB: AMBK.OB), the parent company of American Bank, today announced that it was named one of the safest banks in America, according to an article published online by MSN Money.
The article identifies financial institutions, grouped by state, that boast a perfect score using a special metric called the “Texas Ratio.” The Texas Ratio was developed by Gerard Cassidy, a financial wizard at RBC Capital Markets who used it to correctly predict bank failures in Texas during the 1980s recession, and again in New England during the recession of the early 1990s. The ratio is used today to identify banks that are the furthest from failure. The closer the Texas Ratio is to zero, the lower the bank’s risk of failure.
Out of more than 7,300 banks in the United States, only 359 achieved a perfect Texas Ratio of 0.0. American Bank was the only bank located in the Lehigh Valley, Pennsylvania area to be included on the list.
President and CEO Mark W. Jaindl stated, “We are very pleased to be identified as of one of the safest banks in the United States. During a time when consumers are more concerned than ever with the stability of their financial institution, we are committed to maintaining the highest levels of service, integrity and security for our customers.”
In addition, American Bank has been recognized as a 5-Star Superior Bank by BauerFinancial, Inc. as one of the strongest financial institutions in the nation.
American Bank, Inc. common stock last traded at $6.00 per share. American Bank, Inc. Series A preferred stock (AMBKO) last traded at $6.00. American Capital Trust I Preferred Securities (AMBKP) last traded at $8.93.
Click on the following link to read the article in its entirety: http://money.msn.com/personal-finance/the-359-safest-banks-in-america-investinganswers.aspx.
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 Bankrate.com® 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 AMBK.com, 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.