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 Announces Results For The Third Quarter 2013

Americas United Bank (OTCQB: AUNB) today announced its unaudited results of operations for the third quarter and nine-month period ended September 30, 2013. For the quarter, the Bank earned $256,000, or $0.09 per basic share, compared to net income of $540,000, or $0.19 per basic share for 2012. The year-to-date earnings were $711,000, or $0.25 per basic share, compared to net income of $1,062,000, or $0.37 per basic share for 2012.

Total assets were $120.8 million at quarter-end, up from $114.6 million at year-end 2012, and up from $108.4 million at September 30, 2012. Total gross loans were $86.2 million at quarter-end, up from $72.4 million at year-end 2012, and up from $63.3 million at September 30, 2012. Total deposits reached $95.8 million at September 30, 2013, compared to $86.6 million at December 31, 2012, and $81.2 million at September 30, 2012.

“We again are pleased to report modest quarterly growth as we maintained our focus on increasing the customer base and expanding the balance sheet. Credit quality is satisfactory and non-performing loans or delinquencies are non material. We continue to focus on earning asset growth and in particular the loan portfolio. Our collective efforts resulted in a quarterly profit of $256,000, and a year-to-date profit of $711,000. We continue to strive for core earnings and remain optimistic that our earnings will continue to favorably progress as a result of our strategy. I would like to thank our team for their solid effort that resulted in positive quarterly earnings. The Bank has reported positive quarterly earnings every quarter since the first quarter of 2011. We look forward to our continued future success,” said Adriana M. Boeka, President and Chief Executive Officer.

Selected highlights for third quarter 2013 versus third quarter 2012:
  • Asset growth of $12.4 million, or 11.4%, to $120.8 million;
  • Gross Loan growth of $22.9 million, or 36.1%, to $86.2 million;
  • Deposit growth of $14.6 million, or 18.0%, to $95.8 million;
  • Non-Maturing Demand deposit growth of $3.7 million, or 7.3%, to $54.8 million;
  • Shareholders’ Equity increased $1.5 million, or 8.2%, to $20.3 million;
  • Net Interest Income increased $93,000, or 10.4%, to $980,000;
  • Interest Expense reduction of $30,000, or 21.2%, to $113,000;
  • Provision for Loan and Lease Loss was not required in the third quarter of 2013, as compared to a $450,000 reversal in 2012;
  • Ending Allowance for Loan and Lease Loss decreased to 1.99% of gross loans as compared to 3.3% in 2012.
  • Non-performing loans of $18,000, equated to 0.02% of total loans as compared to $433,000 or 0.68% of total loans at the end of the third quarter of 2012;
  • Non-performing assets to Tier 1 Capital plus Allowance for Loan and Lease Loss (known as the “Texas Ratio”) at 2.01%, as compared to 2.08% in 2012.

The Bank capital ratios at September 30, 2013 are as follows:
  • Tier 1 Leverage Ratio of 17.23%
  • Tier 1 Risk-Based Capital Ratio of 22.83%
  • Total Risk-Based Capital Ratio of 24.10%

Americas United Bank provides a full range of financial services, including credit and deposit products, cash management, and internet banking for businesses and high net worth individuals from its head office at 801 N. Brand Boulevard, Suite 1150, Glendale, CA 91203 and the Downey Office at 8255 Firestone Boulevard, Suite 110, Downey, CA 90241.

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 $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs