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American Business Bank Announces Its Results For The Year Ended December 31st 2012, Including 20% Loan Growth And 10% Earnings Growth Over 2011

AMERICAN BUSINESS BANK (Bank) (OTCBB: AMBZ) today reported net income of $10,884,000 for the year ended 2012, a 10% increase over the $9,886,000 earned in 2011. Earnings per share (basic) for 2012 increased to $2.46 versus $2.24 in 2011. Shares outstanding at the end of the year totaled 4,432,331.

“It’s a tribute to our staff that they, once again, provided our shareholders a double digit return on equity in a single digit market,” said Robert Schack, Chairman.

“American Business Bank has had another great year by putting our customers first and by acting as a financial advisor to contribute to their success,” said Don Johnson, Chief Executive Officer.

“The Bank managed to hit all of its goals for the year 2012 and is looking forward to continuing to build on the Bank’s success in 2013,” said Leon Blankstein, President. “The quality of our people, the culture of the Bank and the execution of our business model continue to serve our shareholders well.”

Total assets increased 11% or $131 million to $1.305 billion at December 31, 2012 as compared to $1.174 billion at December 31, 2011. The loan portfolio (net) increased 20% or $85 million to $494 million at December 31, 2012 as compared to $409 million at December 31, 2011, while investments and federal funds sold increased $35 million. Deposits increased 4% or $38 million to $1.067 billion at December 31, 2012 as compared to $1.029 billion at the end of 2011.

During 2012, Net Interest Income increased $1,706,000 or 4.9% to $36,621,000 from $34,915,000 in 2011.

Non-Interest income during 2012 increased $715,000 or 16.6% to $5,024,000 from $4,309,000 in 2011.

Non-Interest expense for 2012 increased $512,000 or 2.2% to $23,788,000 from $23,276,000 during 2011.

Asset quality at quarter-end remains excellent, with $1,144,000 non-performing loans or 0.2% of total loans; and, no OREO. At the end of December 2012, the allowance for loan losses stood at $10,537,000 or 2.09% of loans.

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