Americas United Bank (OTCBB:AUNB) today announced its unaudited 2010 first quarter results. As of March 31, 2010, the company had total assets of $125.9 million or a 6.2% increase over the March 31, 2009 total assets of $118.5 million.

As of March 31, 2010, the company had total net loans to $96.4 million, or a 2.0% increase over the March 31, 2009 balance of $94.6 million. Total deposits increased to $95.9 million or 11.4% over the March 31, 2009 balance of $86.1 million.

“Our growth had been very steady and conservative, but the first quarter of 2010 has been relatively flat. We have continued with our strategy of attempting to add core customers without adding costly sources of funds or other non-traditional methods of funding,” said Gilbert J. Dalmau, President and Chief Executive Officer of Americas United Bank.

Dalmau continued, “The bank remains financially strong with capital ratios well above what are considered to be “well-capitalized” by the regulators. Our liquidity is also strong and the bank is actively pursuing new high quality lending relationships in the communities that it serves.”

First-Quarter financial highlights include:

• Total assets of $125.9 million at March 31, 2010, a 6.2% increase over $118.5 million at March 31, 2009.

• Net loans of $96.4 million at March 31, 2010, an increase of 2.0 percent from March 31, 2009 total of $94.6 million.

• Allowance for loan loss maintained at 1.83 percent of gross loans at March 31, 2010, higher than many of the bank’s peer group.

• Total deposits for March 31, 2010 were $95.9 million, an increase of 11.4 percent over $86.1 million at March 31, 2009.

• First quarter 2010 operating revenue increased to $1,609,000 from $1,526,000 for the same period in 2009 primarily due to higher volumes, but was again offset by margin compression (reductions in market interest rates placed downward pressure on our net interest margin).

• Operating net loss year-over-year decreased to -$575,000 for the first quarter of 2010 or -$0.20 per basic share compared to -$769,000 or -$0.27 per basic share for the same period in 2009.

Dalmau continued, “Although we are disappointed that we have incurred additional loan loss provision and loan collection expenses in the first quarter of 2010, we are encouraged on a prospective basis that the Bank was closer to breakeven. Thus, we have shown improved results in our core operation and have been favorably building our customer base.”

Dalmau also said, “Although the economy seems to be slowly on the mend, market conditions remain challenging. However, it is in these times when opportunities exist for well-capitalized banks, such as Americas United Bank, to enhance its growth prospects. We continue to be ready, willing and able to deliver on our plan to serve the multi-ethnic business banking market of small and mid-sized businesses, entrepreneurs, and professionals with a special emphasis on serving the banking needs of the Hispanic business and professional communities.”

“We are proud that we never accepted any government support and that throughout this economic crisis we supported our target market of small and mid-sized businesses in the form of loans and other financial services. Although we serve the multi-ethnic business market, we do have the distinction of being the first Hispanic-owned and managed bank to open its doors in California in well over thirty years. This ownership has again resulted in the Bank being certified by The Department of Treasury as a Minority Depository Institution,” said Manuel J. Remon, Chairman of Americas United Bank.

The Bank’s capital ratios continue to be well in excess of the required levels to be considered well capitalized. The Tier 1 Leverage Ratio was 15.35%, Tier 1 Risk Based Capital Ratio was 17.78%, and the Total Risk Based Capital Ratio was 19.04%.

Basic and diluted loss per share for the 1st quarter of 2010, were -$0.20, as compared to basic and diluted loss per share of -$0.27 for the same period of 2009. Book value per share was $6.70 at March 31, 2010.

About Americas United Bank:

Americas United Bank (AUB) is the first Hispanic-owned bank to open its doors in California in over thirty years and has the distinction of being the largest Hispanic-owned bank based in California. Founded by a group of respected and successful business leaders (primarily from the Hispanic community), AUB is a full service commercial bank that provides business and personal banking products and services, including business and commercial real estate loans, SBA loans, lines of credit, corporate debit and credit cards, merchant card processing, international trade solutions, and more. For more information on the Bank, please visit our website at .

Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank's performance and implementation of its business plans, loan performance, interest rates, and regulatory matters.
In 000's (except percentages)
MARCH 31, MARCH 31, December 31,
  2010     2009     2009  
Unaudited Unaudited Audited

Investment Securities $ 1,514 $ 3,519 $ 1,610
Deposits in Other Banks - 2,500 -
Federal Funds Sold 20,485 14,655 1,105
Loans and Leases (Net) 96,438 94,583 96,589
Cash and Due from Banks 3,499 2,206 20,676
Other Assets 3,915 1,061 4,041
TOTAL ASSETS $ 125,851   $ 118,524   $ 124,021  

Demand Deposits $ 13,612 $ 15,185 $ 11,006
NOW Deposits 3,376 4,437 3,887
Money Market and Savings Deposits 35,772 38,768 34,981
Time Deposits   43,156     27,698     44,777  
Total Deposits 95,916 86,088 94,651
Other Borrowings 10,000 8,900 8,900
Other Liabilities   639     752     638  
Total Liabilities 106,555 95,740 104,189
Shareholders' Equity 19,296 22,784 19,832
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $ 125,851   $ 118,524   $ 124,021  
Tier 1 Leverage Ratio 15.35 % 20.19 % 16.00 %
Tier 1 Risk Based Capital Ratio 17.78 % 20.76 % 17.70 %
Total Risk Based Capital Ratio 19.04 % 21.99 % 18.90 %

In 000's (except per share data)

MARCH 31,   2010     2009  
Unaudited Unaudited

Loans and Leases $ 1,513 $ 1,379
Investment Securities 15 88
Federal Funds Sold 9 14
Other Interest Income   -     -  
Total Interest Income   1,537     1,481  

NOW Deposits 14 21
Money Market and Savings Accounts 143 219
Time Deposits 222 217
Other Borrowings   53     65  
Total Interest Expense 432 522
Net Interest Income   1,105     959  
Provision for Loan Losses   460     460  
Net Interest Income after
Provision for Loan Losses 645 499
Non-Interest Income 71 45
Non-Interest Expense   1,290     1,422  
Operating Loss (574 ) (878 )
Other Gains 0 110
Net Loss Before Income Taxes (574 ) (768 )
Income Tax Expense   (1 )   (1 )
Net Loss $ (575 ) $ (769 )
Basic Loss per Share ($0.20 ) ($0.27 )
Diluted Loss per Share ($0.20 ) ($0.27 )

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