Welcome to our dedicated page for Amer Business Bk news (Ticker: AMBZ), a resource for investors and traders seeking the latest updates and insights on Amer Business Bk stock.
American Business Bank (OTCQX: AMBZ) is a commercial bank headquartered in downtown Los Angeles that focuses on serving business clients across Southern California. This news page aggregates company-issued announcements and market updates related to the bank’s operations, financial performance, and corporate developments.
Readers can find earnings releases in which American Business Bank reports net income, net interest margin trends, loan and deposit growth, asset quality metrics, and details about its loan and securities portfolios. These updates often describe changes in commercial and industrial lending, owner-occupied commercial real estate exposure, deposit mix, and the bank’s allowance for credit losses.
The news flow for AMBZ also includes declarations of regular quarterly cash dividends on its common stock and information about stock repurchase programs authorized by the Board of Directors. These items provide insight into the bank’s capital management approach and shareholder return policies.
In addition, American Business Bank publishes announcements about leadership changes and promotions within its corporate banking and regional management teams, such as promotions to executive vice president roles and regional vice president appointments in areas like the Inland Empire. These releases highlight the experience and tenure of key bankers and underscore the bank’s emphasis on relationship-based business banking.
For investors and observers following AMBZ, this page offers a centralized view of the bank’s official communications, including commentary from senior management on business momentum, client relationships, deposit trends, and credit conditions. Bookmark this section to review the sequence of press releases and track how American Business Bank describes its strategy and performance over time.
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AMERICAN BUSINESS BANK (OTCQX: AMBZ) reported a record net income of $48.6 million or $5.28 per share for the full year 2022, a rise from $39.2 million or $4.33 per share in 2021. In Q4 2022, net income was $14 million or $1.51 per share, an increase from $13.3 million or $1.44 per share in Q3. Core loans increased by $136 million, a 24% annualized growth, contributing to a net interest income boost of $18 million or 17% year-over-year. However, total deposits fell by $207 million, a 6% decrease, prompting increased overnight borrowing. The bank maintained a robust nonperforming assets ratio of 0.18% as of year-end.
American Business Bank (AMBZ) has promoted Jonathan Caveza to Regional Vice President of its Long Beach office. Caveza has been with the bank since November 2017, previously serving as Senior Vice President. His promotion is seen as a means to enhance relationships with middle-market businesses in Southern California. The bank emphasizes the strategic importance of Long Beach, citing opportunities linked to the regional port.
American Business Bank (OTCQX: AMBZ) reported net income of $13.3 million for Q3 2022, or $1.44 per diluted share, a 16% increase from Q2 2022. Core loans rose by $69 million, reflecting a 12% annualized growth. Net interest income was $32.3 million, marking an 8% increase over the previous quarter. However, net PPP loan income plummeted by 80% to $251,000. Net interest margin improved to 3.40%, while non-performing assets constituted 0.06% of total assets, indicating solid asset quality and capital adequacy.
American Business Bank (OTCQX: AMBZ) reported net income of $11.4 million ($1.24 per share) for Q2 2022, a 15% increase from Q1 2022. Core loans rose by $129 million (25% annualized), with net interest income increasing by 23% year-over-year, reaching $29.9 million. The non-performing assets to total assets ratio stood at a low 0.03%. Despite a decrease in PPP loan income, the bank remains well capitalized. The efficiency ratio improved to 45%, down from 50% in Q1, and the overall loan pipeline is robust with new relationship managers onboard.
American Business Bank (OTCQX: AMBZ) reported a net income of $9.9 million or $1.08 per diluted share for Q1 2022, up from $9.7 million or $1.06 in Q4 2021, marking a 3% increase. Core loans rose by $163 million (8%) quarter-over-quarter. Net interest income increased by 24% year-over-year to $28.2 million. The bank maintained a zero nonperforming assets ratio, with 54% of deposits in non-interest bearing demand accounts. The cost of deposits decreased to 0.04%. Despite challenges from rising interest rates and inflation, ABB continues to serve its business clients effectively.
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American Business Bank (AMBZ) announced the promotion of Gary Cook to Regional Executive Vice President, Real Estate Manager. Cook has been with the bank since November 2017 and brings 34 years of experience in real estate banking. His leadership is expected to enhance the bank's real estate lending capabilities. The bank operates across eight Loan Production Offices in Southern California, catering to various business sectors.
American Business Bank reported a record net income of $39 million for 2021, a significant increase from $28.8 million in 2020. Total loans, excluding PPP loans, rose by 28% to $424 million. Fourth-quarter 2021 net income was $9.7 million, down 16% from the previous quarter. The bank maintained a robust loan growth pipeline, focusing on core loans, which increased 37% annualized in Q4. Despite challenges, the bank's asset quality remained strong, with nonperforming assets at 0.01% of total assets. Average deposits decreased in cost, contributing to a solid financial position.
American Business Bank reported a net income of $11.5 million for Q3 2021, marking a 46% increase year-over-year. Total loans rose by $103 million, or 6%, compared to the previous quarter. Non-interest income grew significantly due to new business deposits. The bank's net interest income increased 4% year-over-year, reaching $27.9 million. Cost of deposits reduced to 0.05%. The bank remains well-capitalized with nonperforming assets at 0.01% of total assets. New loan production office opened in Long Beach.