American Business Bank Reports First Quarter Earnings
Net Income for the quarter increased over the prior year quarter
First Quarter 2025 Highlights
-
Net income for the quarter totaled
$11.9 million $1.27 -
Net interest margin expanded to
3.47% from3.32% in the prior quarter -
Cost of average deposits declined to
1.19% compared to1.28% in the prior quarter -
Core Deposits increased
$118 million 3.5% over the prior quarter -
Total loans increased
$81 million 3.0% over the prior quarter - Net yield on interest earning assets increased 7 basis points over the prior quarter
-
Non-interest bearing demand deposits represent
45% of total deposits - Minimal past due loans
- No borrowings at the end of the first quarter
-
Return on Average Assets of
1.16% for the current quarter - Commenced Share Repurchase Program
-
First quarterly cash dividend paid on common stock of
$0.25 -
Tangible book value per share of
$40.61 - Continued status as well-capitalized, the highest regulatory category
“With loan growth over the last year and quarter, the net interest margin continued to expand and earnings improved over the prior year. Business momentum and pipeline remain solid as we weather market volatility and economic uncertainty associated with tariffs and other policy changes. The relationship with our clients is a true partnership in good times and bad,” commented Leon Blankstein, Chief Executive Officer (CEO) and Director.
“Our relationship managers have reached out to the clients who may be impacted by the potential tariffs. While some are more concerned than others, depending on their niche, we continue to be impressed by the high caliber of management running the businesses that we bank. As clients navigate through economic uncertainty, they are carefully watching the changes in their markets and are building contingency plans for price increases, supply chains, and potential changes to the economic environment. We differentiate ourselves as a Bank, especially in turbulent times, as a stable partner fostering an open dialogue with clients and prospects.
“We are pleased to see positive core deposit growth for the quarter mainly from existing customers. Some of this growth was event-driven and will not remain on the balance sheet over the long term. The deposit pipeline of new customer relationships remains strong and should drive further core deposit growth in the year. The key to our success continues to be attracting new business clients through our outstanding team of relationship managers.
“Another indicator of business momentum is the hiring of three new accomplished relationship managers in the first quarter of 2025. This brings the total to 50 calling officers up from 40 a year ago. These professionals embrace our business centric approach coupled with high touch service which sets us apart, and enables our future success,” commented Leon Blankstein, ABB’s CEO and Director.
For the quarter ended March 31, 2025, net interest income was
The allowance for credit losses as a percentage of loans was
Net Interest Margin
The net interest margin for the first quarter of 2025 increased to
Net Interest Income
For the quarter ended March 31, 2025, net interest income increased by
Provision for Credit Losses
The following table presents details of the provision for credit losses for the periods indicated:
| Three Months Ended | ||||||||||||
| March 31, 2025 |
December 31, 2024 |
March 31, 2024 |
||||||||||
| (Figures in |
||||||||||||
| Addition (recapture) to allowance for loan losses | $ |
981 |
|
$ |
1,350 |
|
$ |
(226 |
) |
|||
| Addition (recapture) to reserve for unfunded loan commitments |
|
(119 |
) |
|
(590 |
) |
|
438 |
|
|||
| Total loan-related provision | $ |
862 |
|
$ |
760 |
|
$ |
212 |
|
|||
| Addition to allowance for held-to-maturity securities |
|
- |
|
|
- |
|
|
- |
|
|||
| Total provision for credit losses | $ |
862 |
|
$ |
760 |
|
$ |
212 |
|
|||
Non-Interest Income
The decrease in non-interest income compared to the prior quarter is primarily due to a reduction in CDARS placement fees and transaction referrals. The decrease in non-interest income compared to the prior year quarter is primarily due to losses on the sale of select lower yielding investment securities that were sold as rates dipped near the end of the quarter.
Non-Interest Expense
For the quarter ended March 31, 2025, total non-interest expense increased
There were 252 full time equivalent employees at March 31, 2025 compared to 233 a year ago and 247 at December 31, 2024. The Bank has 50 relationship managers in nine offices compared to 47 at December 31, 2024 and 40 at March 31, 2024.
Income Taxes
The effective income tax rate was
Balance Sheet
For the quarter ended March 31, 2025, total loans increased
| March 31, 2025 |
December 31, 2024 |
|||||
| (Figures in |
||||||
| RE - Owner-occupied | $ |
1,257,867 |
$ |
1,195,845 |
||
| RE - Non-owner occupied |
|
754,244 |
|
762,848 |
||
| Construction & Land |
|
94,829 |
|
95,441 |
||
| Total CRE Loans | $ |
2,106,939 |
$ |
2,054,135 |
||
The following table is the composition of the owner-occupied and non-owner-occupied CRE loans by collateral type:
| as of March 31, 2025 | ||||||
| Owner-occupied | Non owner-occupied | |||||
| (Figures in |
||||||
| Industrial | $ |
758,914 |
$ |
320,737 |
||
| Office |
|
184,727 |
|
100,529 |
||
| Retail |
|
23,036 |
|
187,315 |
||
| Automobile Service Facilities |
|
63,272 |
|
22,283 |
||
| Contractor's Yard |
|
84,832 |
|
6,642 |
||
| School |
|
42,165 |
|
- |
||
| Storage |
|
- |
|
11,203 |
||
| Miscellaneous |
|
100,921 |
|
105,535 |
||
| Total | $ |
1,257,867 |
$ |
754,244 |
||
Total investment securities at March 31, 2025 were
Deposits increased by
During the first quarter of 2025, total assets increased
The Bank announced a Stock Repurchase Program in January 2025 for 227,541 shares that expires in January 2026. During the quarter ending March 31, 2025, the bank repurchased, 71,797 shares at a weighted average price of
Asset Quality
The following table presents asset quality overview as of the dates indicated:
| March 31, 2025 |
December 31, 2024 |
||||||
| (Figures in |
|||||||
| Non-performing assets (NPA) | $ |
11,750 |
|
$ |
8,830 |
|
|
| Loans 90+ days past due and still accruing |
|
48 |
|
|
- |
|
|
| Total NPA | $ |
11,798 |
|
$ |
8,830 |
|
|
| NPA as a % of total assets |
|
0.28 |
% |
|
0.22 |
% |
|
| Past Due as a % of total loans |
|
0.02 |
% |
|
0.01 |
% |
|
| Criticized as a % of total loans |
|
4.06 |
% |
|
4.31 |
% |
|
| Classified as a % of total loans |
|
1.09 |
% |
|
0.96 |
% |
|
During the first quarter of 2025, non-performing assets increased by
The loan portfolio has approximately
Our commercial real estate lending is primarily owner-occupied which is not dependent on rent rolls, but reliant on the cash flows of the operating business that occupies the property. C&I and owner-occupied commercial real estate portfolios comprise
At this time, the loan portfolio has one piece of collateral on a commercial property that had been destroyed by the January fires in
The following table represents the allowance for credit losses for loans as of and for the dates and periods indicated:
| Three Months Ended | |||||||||||
| March 31, 2025 |
December 31, 2024 |
March 31, 2024 |
|||||||||
| (Figures in |
|||||||||||
| Balance, beginning of period | $ |
30,448 |
|
$ |
29,105 |
|
$ |
28,460 |
|
||
| Charge-offs |
|
- |
|
|
(10 |
) |
|
(99 |
) |
||
| Recoveries |
|
- |
|
|
3 |
|
|
200 |
|
||
| Net (charge-offs) / recoveries | $ |
- |
|
$ |
(7 |
) |
$ |
101 |
|
||
| Provision |
|
981 |
|
|
1,350 |
|
|
(226 |
) |
||
| Balance, end of period | $ |
31,429 |
|
$ |
30,448 |
|
$ |
28,335 |
|
||
| Allowance as a % of loans |
|
1.11 |
% |
|
1.11 |
% |
|
1.10 |
% |
||
The allowance for credit losses for loans increased to
ABOUT AMERICAN BUSINESS BANK
American Business Bank, headquartered in downtown
FORWARD LOOKING STATEMENTS
This communication contains certain forward-looking information about American Business Bank that is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Such statements include future financial and operating results, expectations, intentions and other statements that are not historical facts. Such statements are based on information available at the time of this communication and are based on current beliefs and expectations of the Bank’s management and are subject to significant risks, uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those set forth in the forward-looking statements due to a variety of factors, including various risk factors. We are under no obligation (and expressly disclaim any such obligation) to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
| American Business Bank | ||||||||||||
| Figures in |
||||||||||||
| BALANCE SHEETS (unaudited) | ||||||||||||
March |
|
December |
|
March |
||||||||
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
||
| Assets: | ||||||||||||
| Cash and Due from Banks | $ |
80,026 |
|
$ |
35,544 |
|
$ |
52,198 |
|
|||
| Interest Earning Deposits in Other Financial Institutions |
|
88,975 |
|
|
66,073 |
|
|
10,368 |
|
|||
| Investment Securities: | ||||||||||||
| US Agencies |
|
67,333 |
|
|
71,836 |
|
|
85,678 |
|
|||
| Mortgage Backed Securities |
|
375,991 |
|
|
375,402 |
|
|
394,124 |
|
|||
| State and Municipals |
|
73,671 |
|
|
76,442 |
|
|
86,535 |
|
|||
| Corporate Bonds |
|
14,994 |
|
|
14,594 |
|
|
13,870 |
|
|||
| Securities Available-for-Sale, at Fair Value |
|
531,989 |
|
|
538,274 |
|
|
580,207 |
|
|||
| Mortgage Backed Securities |
|
163,767 |
|
|
166,915 |
|
|
176,317 |
|
|||
| State and Municipals |
|
377,407 |
|
|
377,947 |
|
|
384,612 |
|
|||
| Allowance for Credit Losses, Held-To-Maturity |
|
(55 |
) |
|
(55 |
) |
|
(55 |
) |
|||
| Securities Held-to-Maturity, at Amortized Cost, |
|
541,119 |
|
|
544,807 |
|
|
560,874 |
|
|||
| Net of Allowance for Credit Losses | ||||||||||||
| Federal Home Loan Bank Stock, at Cost |
|
15,000 |
|
|
15,000 |
|
|
15,000 |
|
|||
| Total Investment Securities |
|
1,088,108 |
|
|
1,098,081 |
|
|
1,156,081 |
|
|||
| Loans Receivable: | ||||||||||||
| Commercial Real Estate |
|
2,106,939 |
|
|
2,054,135 |
|
|
1,901,621 |
|
|||
| Commercial and Industrial |
|
513,748 |
|
|
485,307 |
|
|
470,294 |
|
|||
| Residential Real Estate |
|
204,412 |
|
|
201,996 |
|
|
194,059 |
|
|||
| Installment and Other |
|
6,897 |
|
|
9,128 |
|
|
6,685 |
|
|||
| Total Loans Receivable |
|
2,831,996 |
|
|
2,750,566 |
|
|
2,572,659 |
|
|||
| Allowance for Credit Losses |
|
(31,429 |
) |
|
(30,448 |
) |
|
(28,335 |
) |
|||
| Loans Receivable, Net |
|
2,800,567 |
|
|
2,720,118 |
|
|
2,544,324 |
|
|||
| Furniture, Equipment and Leasehold Improvements, Net |
|
4,808 |
|
|
4,963 |
|
|
4,380 |
|
|||
| Bank/Corporate Owned Life Insurance |
|
30,022 |
|
|
29,943 |
|
|
29,185 |
|
|||
| Other Assets |
|
81,780 |
|
|
85,621 |
|
|
79,639 |
|
|||
| Total Assets | $ |
4,174,286 |
|
$ |
4,040,343 |
|
$ |
3,876,175 |
|
|||
| Liabilities: | ||||||||||||
| Non-Interest Bearing Demand Deposits | $ |
1,704,960 |
|
$ |
1,644,635 |
|
$ |
1,601,795 |
|
|||
| Interest Bearing Transaction Accounts |
|
415,998 |
|
|
388,154 |
|
|
367,903 |
|
|||
| Money Market and Savings Deposits |
|
1,345,088 |
|
|
1,315,005 |
|
|
1,083,008 |
|
|||
| Certificates of Deposit |
|
292,658 |
|
|
296,206 |
|
|
256,309 |
|
|||
| Total Deposits |
|
3,758,704 |
|
|
3,644,000 |
|
|
3,309,015 |
|
|||
| Federal Home Loan Bank Advances / Other Borrowings |
|
- |
|
|
- |
|
|
210,000 |
|
|||
| Other Liabilities |
|
47,363 |
|
|
41,565 |
|
|
41,186 |
|
|||
| Total Liabilities | $ |
3,806,067 |
|
$ |
3,685,565 |
|
$ |
3,560,201 |
|
|||
| Shareholders' Equity: | ||||||||||||
| Common Stock | $ |
207,373 |
|
$ |
210,345 |
|
$ |
208,336 |
|
|||
| Retained Earnings |
|
229,590 |
|
|
220,023 |
|
|
187,243 |
|
|||
| Accumulated Other Comprehensive Income / (Loss) |
|
(68,744 |
) |
|
(75,590 |
) |
|
(79,605 |
) |
|||
| Total Shareholders' Equity | $ |
368,219 |
|
$ |
354,778 |
|
$ |
315,974 |
|
|||
| Total Liabilities and Shareholders' Equity | $ |
4,174,286 |
|
$ |
4,040,343 |
|
$ |
3,876,175 |
|
|||
| Standby Letters of Credit | $ |
47,965 |
|
$ |
47,223 |
|
$ |
43,810 |
|
|||
| Per Share Information: | ||||||||||||
| Common Shares Outstanding |
|
9,066,125 |
|
|
9,102,461 |
|
|
9,078,782 |
|
|||
| Book Value Per Share | $ |
40.61 |
|
$ |
38.98 |
|
$ |
34.80 |
|
|||
| Tangible Book Value Per Share | $ |
40.61 |
|
$ |
38.98 |
|
$ |
34.80 |
|
|||
| American Business Bank | ||||||||||||
| Figures in |
||||||||||||
| INCOME STATEMENTS (unaudited) | ||||||||||||
| For the three months ended: | ||||||||||||
March |
|
December |
|
March |
||||||||
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
||
| Interest Income: | ||||||||||||
| Interest and Fees on Loans | $ |
37,485 |
|
$ |
36,164 |
|
$ |
33,664 |
|
|||
| Interest on Investment Securities |
|
6,973 |
|
|
7,087 |
|
|
7,658 |
|
|||
| Interest on Interest Earning Deposits in Other Financial Institutions |
|
1,170 |
|
|
2,966 |
|
|
250 |
|
|||
| Total Interest Income |
|
45,628 |
|
|
46,217 |
|
|
41,572 |
|
|||
| Interest Expense: | ||||||||||||
| Interest on Interest Bearing Transaction Accounts |
|
870 |
|
|
868 |
|
|
1,002 |
|
|||
| Interest on Money Market and Savings Deposits |
|
7,626 |
|
|
8,451 |
|
|
7,265 |
|
|||
| Interest on Certificates of Deposits |
|
2,368 |
|
|
2,754 |
|
|
2,288 |
|
|||
| Interest on Federal Home Loan Bank Advances and Other Borrowings |
|
1 |
|
|
1 |
|
|
1,598 |
|
|||
| Total Interest Expense |
|
10,865 |
|
|
12,074 |
|
|
12,153 |
|
|||
| Net Interest Income |
|
34,763 |
|
|
34,143 |
|
|
29,419 |
|
|||
| Provision for Credit Losses |
|
862 |
|
|
760 |
|
|
212 |
|
|||
| Net Interest Income after Provision for Credit Losses |
|
33,901 |
|
|
33,383 |
|
|
29,207 |
|
|||
| Non-Interest Income: | ||||||||||||
| Deposit Fees |
|
1,162 |
|
|
1,142 |
|
|
988 |
|
|||
| International Fees |
|
370 |
|
|
436 |
|
|
406 |
|
|||
| Gain (Loss) on Sale of Investment Securities, Net |
|
(443 |
) |
|
(298 |
) |
|
(110 |
) |
|||
| Gain on Sale of SBA Loans, Net |
|
59 |
|
|
90 |
|
|
57 |
|
|||
| Bank/Corporate Owned Life Insurance Income (Expense) |
|
79 |
|
|
228 |
|
|
287 |
|
|||
| Other |
|
340 |
|
|
709 |
|
|
487 |
|
|||
| Total Non-Interest Income |
|
1,567 |
|
|
2,307 |
|
|
2,115 |
|
|||
| Non-Interest Expense: | ||||||||||||
| Salaries and Employee Benefits |
|
12,877 |
|
|
12,412 |
|
|
11,649 |
|
|||
| Occupancy and Equipment |
|
1,300 |
|
|
1,257 |
|
|
1,209 |
|
|||
| Professional Services |
|
2,441 |
|
|
2,210 |
|
|
1,963 |
|
|||
| Promotion Expenses |
|
721 |
|
|
780 |
|
|
528 |
|
|||
| Other |
|
1,720 |
|
|
1,595 |
|
|
1,424 |
|
|||
| Total Non-Interest Expense |
|
19,059 |
|
|
18,254 |
|
|
16,773 |
|
|||
| Earnings before income taxes |
|
16,409 |
|
|
17,436 |
|
|
14,549 |
|
|||
| Income Tax Expense |
|
4,522 |
|
|
4,935 |
|
|
4,052 |
|
|||
| NET INCOME | $ |
11,887 |
|
$ |
12,501 |
|
$ |
10,497 |
|
|||
| Per Share Information: | ||||||||||||
| Earnings Per Share - Basic | $ |
1.28 |
|
$ |
1.35 |
|
$ |
1.14 |
|
|||
| Earnings Per Share - Diluted | $ |
1.27 |
|
$ |
1.33 |
|
$ |
1.13 |
|
|||
| Weighted Average Shares - Basic |
|
9,283,536 |
|
|
9,280,972 |
|
|
9,237,317 |
|
|||
| Weighted Average Shares - Diluted |
|
9,368,883 |
|
|
9,364,220 |
|
|
9,293,818 |
|
|||
| American Business Bank | ||||||||||||||||||
| Figures in |
||||||||||||||||||
| QUARTERLY AVERAGE BALANCE SHEETS AND YIELD ANALYSIS (unaudited) | ||||||||||||||||||
| For the three months ended: | ||||||||||||||||||
| March 2025 | December 2024 | |||||||||||||||||
| Average | Interest | Average | Average | Interest | Average | |||||||||||||
| Balance | Inc/Exp | Yield/Rate | Balance | Inc/Exp | Yield/Rate | |||||||||||||
| Interest Earning Assets: | ||||||||||||||||||
| Interest Earning Deposits in Other Financial Institutions | $ |
106,348 |
$ |
1,170 |
4.46 |
% |
$ |
245,966 |
$ |
2,966 |
4.80 |
% |
||||||
| Investment Securities: | ||||||||||||||||||
| US Agencies |
|
69,886 |
|
887 |
5.08 |
% |
|
73,241 |
|
973 |
5.31 |
% |
||||||
| Mortgage Backed Securities |
|
631,209 |
|
3,024 |
1.92 |
% |
|
641,499 |
|
3,053 |
1.90 |
% |
||||||
| State and Municipals |
|
461,153 |
|
2,539 |
2.20 |
% |
|
462,644 |
|
2,546 |
2.20 |
% |
||||||
| Corporate Bonds |
|
16,250 |
|
184 |
4.52 |
% |
|
16,250 |
|
186 |
4.57 |
% |
||||||
| Securities Available-for-Sale and Held-to-Maturity |
|
1,178,498 |
|
6,634 |
2.25 |
% |
|
1,193,634 |
|
6,758 |
2.26 |
% |
||||||
| Federal Home Loan Bank Stock |
|
15,000 |
|
339 |
9.03 |
% |
|
15,000 |
|
329 |
8.76 |
% |
||||||
| Total Investment Securities |
|
1,193,498 |
|
6,973 |
2.34 |
% |
|
1,208,634 |
|
7,087 |
2.35 |
% |
||||||
| Loans Receivable: | ||||||||||||||||||
| Commercial Real Estate |
|
2,058,669 |
|
26,206 |
5.16 |
% |
|
1,969,878 |
|
25,124 |
5.07 |
% |
||||||
| Commercial and Industrial |
|
493,283 |
|
8,107 |
6.67 |
% |
|
459,346 |
|
7,812 |
6.77 |
% |
||||||
| Residential Real Estate |
|
201,129 |
|
3,099 |
6.25 |
% |
|
197,932 |
|
3,164 |
6.36 |
% |
||||||
| Installment and Other |
|
8,643 |
|
73 |
3.40 |
% |
|
9,509 |
|
64 |
2.69 |
% |
||||||
| Total Loans Receivable |
|
2,761,724 |
|
37,485 |
5.50 |
% |
|
2,636,665 |
|
36,164 |
5.46 |
% |
||||||
| Total Interest Earning Assets | $ |
4,061,570 |
$ |
45,628 |
4.49 |
% |
$ |
4,091,265 |
$ |
46,217 |
4.42 |
% |
||||||
| Liabilities: | ||||||||||||||||||
| Non-Interest Bearing Demand Deposits |
|
1,660,586 |
|
- |
0.00 |
% |
|
1,735,603 |
|
- |
0.00 |
% |
||||||
| Interest Bearing Transaction Accounts |
|
404,820 |
|
870 |
0.87 |
% |
|
367,644 |
|
868 |
0.94 |
% |
||||||
| Money Market and Savings Deposits |
|
1,342,054 |
|
7,626 |
2.30 |
% |
|
1,349,195 |
|
8,451 |
2.49 |
% |
||||||
| Certificates of Deposit |
|
295,606 |
|
2,368 |
3.25 |
% |
|
289,945 |
|
2,754 |
3.78 |
% |
||||||
| Total Deposits |
|
3,703,066 |
|
10,864 |
1.19 |
% |
|
3,742,387 |
|
12,073 |
1.28 |
% |
||||||
| Federal Home Loan Bank Advances / Other Borrowings |
|
133 |
|
1 |
4.50 |
% |
|
73 |
|
1 |
4.77 |
% |
||||||
| Total Interest Bearing Deposits and Borrowings |
|
2,042,613 |
|
10,865 |
2.16 |
% |
|
2,006,857 |
|
12,074 |
2.39 |
% |
||||||
| Total Deposits and Borrowings | $ |
3,703,199 |
$ |
10,865 |
1.19 |
% |
$ |
3,742,461 |
$ |
12,074 |
1.28 |
% |
||||||
| Net Interest Income | $ |
34,763 |
$ |
34,143 |
||||||||||||||
| Net Interest Rate Spread | 3.30 |
% |
3.14 |
% |
||||||||||||||
| Net Interest Margin | 3.47 |
% |
3.32 |
% |
||||||||||||||
| American Business Bank | ||||||||||||||||||
| Figures in |
||||||||||||||||||
| QUARTERLY AVERAGE BALANCE SHEETS AND YIELD ANALYSIS (unaudited) | ||||||||||||||||||
| For the three months ended: | ||||||||||||||||||
| March 2025 | March 2024 | |||||||||||||||||
| Average | Interest | Average | Average | Interest | Average | |||||||||||||
| Balance | Inc/Exp | Yield/Rate | Balance | Inc/Exp | Yield/Rate | |||||||||||||
| Interest Earning Assets: | ||||||||||||||||||
| Interest Earning Deposits in Other Financial Institutions | $ |
106,348 |
$ |
1,170 |
4.46 |
% |
$ |
19,252 |
$ |
250 |
5.23 |
% |
||||||
| Investment Securities: | ||||||||||||||||||
| US Agencies |
|
69,886 |
|
887 |
5.08 |
% |
|
89,024 |
|
1,285 |
5.77 |
% |
||||||
| Mortgage Backed Securities |
|
631,209 |
|
3,024 |
1.92 |
% |
|
674,033 |
|
3,199 |
1.90 |
% |
||||||
| State and Municipals |
|
461,153 |
|
2,539 |
2.20 |
% |
|
485,036 |
|
2,656 |
2.19 |
% |
||||||
| Corporate Bonds |
|
16,250 |
|
184 |
4.52 |
% |
|
16,250 |
|
188 |
4.64 |
% |
||||||
| Securities Available-for-Sale and Held-to-Maturity |
|
1,178,498 |
|
6,634 |
2.25 |
% |
|
1,264,343 |
|
7,328 |
2.32 |
% |
||||||
| Federal Home Loan Bank Stock |
|
15,000 |
|
339 |
9.03 |
% |
|
15,000 |
|
330 |
8.79 |
% |
||||||
| Total Investment Securities |
|
1,193,498 |
|
6,973 |
2.34 |
% |
|
1,279,343 |
|
7,658 |
2.39 |
% |
||||||
| Loans Receivable: | ||||||||||||||||||
| Commercial Real Estate |
|
2,058,669 |
|
26,206 |
5.16 |
% |
|
1,878,384 |
|
22,817 |
4.89 |
% |
||||||
| Commercial and Industrial |
|
493,283 |
|
8,107 |
6.67 |
% |
|
471,147 |
|
7,740 |
6.61 |
% |
||||||
| Residential Real Estate |
|
201,129 |
|
3,099 |
6.25 |
% |
|
196,176 |
|
3,044 |
6.24 |
% |
||||||
| Installment and Other |
|
8,643 |
|
73 |
3.40 |
% |
|
9,235 |
|
63 |
2.74 |
% |
||||||
| Total Loans Receivable |
|
2,761,724 |
|
37,485 |
5.50 |
% |
|
2,554,942 |
|
33,664 |
5.30 |
% |
||||||
| Total Interest Earning Assets | $ |
4,061,570 |
$ |
45,628 |
4.49 |
% |
$ |
3,853,537 |
$ |
41,572 |
4.27 |
% |
||||||
| Liabilities: | ||||||||||||||||||
| Non-Interest Bearing Demand Deposits |
|
1,660,586 |
|
- |
0.00 |
% |
|
1,647,928 |
|
- |
0.00 |
% |
||||||
| Interest Bearing Transaction Accounts |
|
404,820 |
|
870 |
0.87 |
% |
|
382,086 |
|
1,002 |
1.05 |
% |
||||||
| Money Market and Savings Deposits |
|
1,342,054 |
|
7,626 |
2.30 |
% |
|
1,125,101 |
|
7,265 |
2.60 |
% |
||||||
| Certificates of Deposit |
|
295,606 |
|
2,368 |
3.25 |
% |
|
255,490 |
|
2,288 |
3.60 |
% |
||||||
| Total Deposits |
|
3,703,066 |
|
10,864 |
1.19 |
% |
|
3,410,605 |
|
10,555 |
1.24 |
% |
||||||
| Federal Home Loan Bank Advances / Other Borrowings |
|
133 |
|
1 |
4.50 |
% |
|
123,022 |
|
1,598 |
5.22 |
% |
||||||
| Total Interest Bearing Deposits and Borrowings |
|
2,042,613 |
|
10,865 |
2.16 |
% |
|
1,885,699 |
|
12,153 |
2.59 |
% |
||||||
| Total Deposits and Borrowings | $ |
3,703,199 |
$ |
10,865 |
1.19 |
% |
$ |
3,533,627 |
$ |
12,153 |
1.38 |
% |
||||||
| Net Interest Income | $ |
34,763 |
$ |
29,419 |
||||||||||||||
| Net Interest Rate Spread | 3.30 |
% |
2.89 |
% |
||||||||||||||
| Net Interest Margin | 3.47 |
% |
3.07 |
% |
||||||||||||||
| American Business Bank | ||||||||||||
| Figures in |
||||||||||||
| SUPPLEMENTAL DATA (unaudited) | ||||||||||||
March |
|
December |
|
March |
||||||||
2025 |
|
2024 |
|
2024 |
||||||||
| Performance Ratios: | ||||||||||||
| Quarterly: | ||||||||||||
| Return on Average Assets (ROAA) |
|
1.16 |
% |
|
1.21 |
% |
|
1.08 |
% |
|||
| Return on Average Equity (ROAE) |
|
13.18 |
% |
|
14.03 |
% |
|
13.42 |
% |
|||
| Efficiency Ratio |
|
51.50 |
% |
|
48.07 |
% |
|
54.39 |
% |
|||
| Year-to-Date | ||||||||||||
| Return on Average Assets (ROAA) |
|
1.16 |
% |
|
1.08 |
% |
|
1.08 |
% |
|||
| Return on Average Equity (ROAE) |
|
13.18 |
% |
|
13.02 |
% |
|
13.42 |
% |
|||
| Efficiency Ratio |
|
51.50 |
% |
|
52.46 |
% |
|
54.39 |
% |
|||
| Capital Adequacy: | ||||||||||||
| Total Risk Based Capital Ratio |
|
12.84 |
% |
|
13.02 |
% |
|
12.62 |
% |
|||
| Common Equity Tier 1 Capital Ratio |
|
11.96 |
% |
|
12.14 |
% |
|
11.72 |
% |
|||
| Tier 1 Risk Based Capital Ratio |
|
11.96 |
% |
|
12.14 |
% |
|
11.72 |
% |
|||
| Tier 1 Leverage Ratio |
|
10.44 |
% |
|
10.21 |
% |
|
9.99 |
% |
|||
| Tangible Common Equity / Tangible Assets |
|
8.82 |
% |
|
8.78 |
% |
|
8.15 |
% |
|||
| Asset Quality Overview | ||||||||||||
| Non-Performing Loans | $ |
11,750 |
|
$ |
8,830 |
|
$ |
7,440 |
|
|||
| Loans 90+ Days Past Due and Still Accruing |
|
48 |
|
|
- |
|
|
- |
|
|||
| Total Non-Performing Loans |
|
11,799 |
|
|
8,830 |
|
|
7,440 |
|
|||
| Loans Modified with Financial Difficulty | $ |
8,534 |
|
$ |
5,573 |
|
$ |
229 |
|
|||
| Other Real Estate Owned |
|
- |
|
|
- |
|
|
- |
|
|||
| ACL / Loans Receivable |
|
1.11 |
% |
|
1.11 |
% |
|
1.10 |
% |
|||
| Non-Performing Loans / Total Loans Receivable |
|
0.42 |
% |
|
0.32 |
% |
|
0.29 |
% |
|||
| Non-Performing Assets / Total Assets |
|
0.28 |
% |
|
0.22 |
% |
|
0.19 |
% |
|||
| Net Charge-Offs (Recoveries) quarterly | $ |
- |
|
$ |
7 |
|
$ |
(101 |
) |
|||
| Net Charge-Offs (Recoveries) year-to-date | $ |
- |
|
$ |
(148 |
) |
$ |
(101 |
) |
|||
| Net Charge-Offs (Recoveries) year-to-date / Average |
|
0.00 |
% |
|
(0.01 |
%) |
|
(0.00 |
%) |
|||
| Loans Receivable | ||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250428281730/en/
Karen Schoenbaum
EVP/CFO
(213) 430-4000
www.americanbb.bank
Source: American Business Bank
