This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Americas United Bank Reports $119.3 Million In Assets At September 30, 2010

Americas United Bank (OTCBB: AUNB) today announced its unaudited 2010 third quarter results.

Third-Quarter financial highlights include:

• Total assets of $119.3 million at September 30, 2010, a 3.8% decrease over $124.0 million at December 31, 2009.

• Net loans of $97.2 million at September 30, 2010, an increase of 0.7 percent from December 31, 2009 total of $96.6 million.

• Allowance for loan loss maintained at approximately 2.1 percent of gross loans at September 30, 2010.

• Total deposits at September 30, 2010 were $90.6 million, a decrease of 4.2 percent over $94.6 million at December 31, 2009.

• Third quarter 2010 operating revenue decreased to $1,668,000 from $1,949,000 for the same period in 2009.

• Operating net loss of -$417,000 for the third quarter of 2010 or -$0.14 per basic share compared to -$570,000 or -$0.20 per basic share for the same period in 2009.

“As with most banks, asset quality has been a struggle, so we have taken the appropriate steps to mitigate these challenges. Additionally, on an operating basis we have restructured to achieve maximum efficiencies. This includes reducing excess staff and the amount of space needed in our corporate office. Our shareholders and customers can take comfort in the knowledge that the bank far exceeds what is considered “well capitalized” according to the FDIC,” said Jeffrey Pollard, Executive Vice President and Chief Financial Officer.

At September 30, 2010, the Bank’s Total Risk Based Capital Ratio was 17.84%, Tier 1 Risk Based Capital Ratio was 16.58%, and Tier 1 Leverage Ratio was 14.47%.

Additionally, the Bank is pleased to announce the hiring of Larry McCurley as its Chief Credit Officer. Larry brings many years of solid lending ability and is a great addition to lead the Bank’s growth in the lending area.

Excitement is also building over the highly anticipated opening of our new Downey branch. Construction should start immediately and our expectation is to be open by the end of the year.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs