American Business Bank Announces Record Growth in 2018

Net Interest Income increases 23% over prior year

Full Year 2018 Highlights

  • Total loans increased $330 million or 36%
  • Total deposits increased $334 million or 20%
  • Non-interest bearing demand deposits were 50% of total deposits
  • Nonperforming assets to total assets negligible at 0.07%
  • Continued status as well-capitalized, the highest regulatory category

Fourth Quarter 2018 Highlights

  • Net interest income increased by $5.2 million or 38% over the prior year quarter
  • Record net organic loan growth of $112 million or 39% annualized

LOS ANGELES--()--AMERICAN BUSINESS BANK (OTC Pink: AMBZ) today reported net income for the full year 2018 of $16.4 million or $2.09 per fully diluted share compared to net income of $8.3 million or $1.07 per fully diluted share for the full year 2017, an increase of 97%. The increase was related to record loan growth resulting in increased net interest income. The results for 2017 include a $5.1 million ($0.66 per fully diluted share) write-down of the net deferred tax asset due to the Tax Cuts and Job Acts of 2017 (Tax Reform Act). Comparing 2018 core net income of $16 million to 2017 core net income of $14.4 million, which excludes the write-down of the net deferred tax asset and gains/losses on securities and stock, results in an increase of 11%.

“The investment we made in hiring seasoned banking personnel in the fourth quarter of 2017 negatively affected earnings in the first half of 2018, that being said, the year has been transformational for the Bank. Despite our record growth, we remain true to our strategy of providing high touch business banking services to our customers. With our new relationship manager teams fully integrated, we expect loan and deposit growth to normalize to the low double digits in 2019,” said Leon Blankstein, ABB’s President, CEO and Director.

For the quarter ending December 31, 2018 net income was $6.1 million or $0.77 per fully diluted share, compared with a net loss of $2.5 million or $0.34 loss per fully diluted share for the fourth quarter of 2017 due to the effects of the Tax Reform Act signed in December of 2017. Another significant difference was net interest income increased $5.2 million or 38% due to the strong loan growth funded by core deposit growth.

Net income for the fourth quarter of 2018 was $6.1 million or $0.77 per fully diluted share, compared with net income of $4.1 million or $0.53 per fully diluted share for the third quarter of 2018. The increases were due to increased net interest income of $1.4 million with a decline in compensation and benefits of $3 million from the third quarter.

The Bank’s net interest margin for 2018 was 3.41%, compared to 3.10% in the previous year, an increase of 0.31%. The Bank’s net interest margin for the fourth quarter of 2018 was 3.53%, compared to 3.02% for the fourth quarter of 2017, an increase of 0.51%. The increases were primarily due to average loans being a higher percentage of average earnings assets in 2018 than in 2017, as well as expansion in average loan yields for the periods compared. The loan to deposit ratio increased to 63% from 56% during the year.

The Bank’s net interest margin for the fourth quarter of 2018 was 3.53%, compared to 3.46% in the third quarter of 2018. The increase was primarily due to expansion in average loan yields while cost of deposits remained steady compared to the prior quarter.

Net interest income increased for the fourth quarter over the third quarter of 2018 by $1.4 million or 8%. For 2018, net interest income increased $12.4 million or 23% due to an increase in average outstanding loans, a higher yield on loans and a low deposit beta for the periods compared. The yield on average loans increased to 4.80% for the fourth quarter of 2018 compared to 4.71% for the third quarter of 2018. The new loan production weighted average coupon was 5.01% in the quarter. The Bank’s core deposits continue to be a strength with the cost of deposits at 0.18% for the most recent quarter, an increase of only 1 basis point over the prior quarter.

Non-interest income in 2018 was $3.9 million, an increase of $174,000, or 5% from $3.7 million in the prior year. The Bank recorded a gain on sale of SBA loans of $886,000 generated by the new SBA group in 2018. Additionally, Deposit and International fees increased $411,000 from the prior year due to growth in commercial business customers.

Non-interest income was $646,000 for the fourth quarter of 2018, a decrease of $423,000 compared to the third quarter. Included in other non-interest income is a decline in the value of the Corporate owned life insurance (COLI) of $323,000 which is invested in mutual funds. Its decline in value is offset by a benefit related to the deferred compensation plan (DCP) for directors and senior management. As the correlated DCP investment declines in value, the expense related to DCP decreases, thereby resulting in a benefit that offsets compensation expense. In the third quarter of 2018, other non-interest income increased due to the positive change in COLI value.

Non-interest expense increased for the year ending December 31, 2018 compared to the prior year with the hiring of new personnel in the fourth quarter of 2017 and additional hires throughout 2018 to support the Bank’s growth. Furthermore, two new loan production offices were opened in 2018 as well as the Irvine office relocated to a larger facility.

Non-interest expense decreased $3 million for the quarter ending December 31, 2018 compared to the prior quarter. This reduction was predominantly due to a non-cash decrease in compensation and benefits of $2 million. The decline in the Bank’s stock price resulted in a benefit in DCP expense during the fourth quarter. An additional DCP benefit of $466,000 is correlated to the COLI decline of $323,000.

Full time equivalent employees at December 31, 2018 were 191, an increase of 22 employees or 13% higher than a year ago, but only 3 more than at September 30, 2018. The Bank now has 30 relationship managers in seven offices.

Total assets increased $284 million, or 15% from year end December 31, 2017 to $2.2 billion which was driven by an increase in deposits.

Asset quality at December 31, 2018 remains excellent with non-performing assets to total assets of 0.07%, $1.2 million in non-performing loans, and no Other Real Estate Owned (OREO). The largest nonaccrual is fully secured by real estate. At the end of the quarter, the allowance for loan losses stood at $17.5 million, or 1.4% of total loans. For 2018, the Bank had no charge offs.

ABOUT AMERICAN BUSINESS BANK

American Business Bank headquartered in downtown Los Angeles offers a wide range of financial services to the business marketplace. Clients include wholesalers, manufacturers, service businesses, professionals and non-profits. The Bank has opened six Loan Production Offices in strategic areas including our North Orange County Office in Anaheim, our Orange County Office in Irvine, our South Bay Office in Torrance, our San Fernando Valley Office in the Warner Center, our Riverside County office in Corona and our Inland Empire Office in Ontario.

FORWARD LOOKING STATEMENTS

This communication contains certain forward-looking information about American Business Bank that is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Such statements include future financial and operating results, expectations, intentions and other statements that are not historical facts. Such statements are based on information available at the time of this communication and are based on current beliefs and expectations of the Bank’s management and are subject to significant risks, uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those set forth in the forward-looking statements due to a variety of factors, including various risk factors. We are under no obligation (and expressly disclaim any such obligation) to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

   
American Business Bank
Figures in $000, except per share amounts
     
BALANCE SHEET (unaudited)
 
 
         
December September December
  2018       2018       2017  

Assets:

Cash and Due from Banks $ 26,673 $ 59,007 $ 32,205
Interest Earning Deposits with Other Financial Institutions 76,599 62,497 9,701
 

Investment Securities:

US Agencies 440,212 464,604 584,950
Mortgage Backed Securities 128,851 129,813 86,909
State and Municipals 77,460 79,396 169,803
US Treasuries 9,859 9,758 9,931
    Corporate Bonds       1,971       1,976       3,394  
Securities Available-for-Sale, at Fair Value 658,353 685,547 854,987
Securities Held-to-Maturity, at Amortized Cost 87,526 87,546 -
    Federal Home Loan Bank Stock, at Cost   10,611       10,611       10,190  
Total Investment Securities 756,490 783,704 865,177

Gross Loans:

Commercial Real Estate 827,388 765,374 641,459
Commercial and Industrial 356,583 304,682 216,007
Residential Real Estate 62,835 64,853 59,665
    Installment and Other       3,455       3,528       3,262  
Total Gross Loans 1,250,261 1,138,437 920,393
        Allowance for Loan and Lease Losses   (17,503 )     (15,950 )     (13,639 )
Net Loans 1,232,758 1,122,487 906,754
Premises and Equipment 1,834 1,831 1,273
  Other Assets         63,089       66,772       58,439  
    Total Assets       $ 2,157,443     $ 2,096,298     $ 1,873,549  
 

Liabilities:

Non-Interest Bearing Demand Deposits $ 983,284 $ 972,560 $ 863,410
Interest Bearing Transaction Accounts 211,794 197,460 170,326
Money Market and Savings Deposits 728,237 672,047 563,610
  Certificates of Deposit       50,443       73,239       42,390  
Total Deposits 1,973,758 1,915,306 1,639,736
Federal Home Loan Bank Advances / Other Borrowings - 1,000 62,000
  Other Liabilities         18,618       25,048       19,010  
    Total Liabilities       $ 1,992,376     $ 1,941,354     $ 1,720,746  
 

Shareholders' Equity:

Common Stock and Retained Earnings $ 182,164 $ 175,616 $ 160,880
  Accumulated Other Comprehensive Income / (Loss)   (17,097 )     (20,672 )     (8,077 )
    Total Shareholders' Equity     $ 165,067     $ 154,944     $ 152,803  
    Total Liabilities and Shareholders' Equity $ 2,157,443     $ 2,096,298     $ 1,873,549  
 
Standby Letters of Credit $ 36,411 $ 31,561 $ 28,863
 

Per Share Information:

Common Shares Outstanding 7,705,590 7,691,918 7,539,922
Book Value Per Share $ 21.42 $ 20.14 $ 20.27
Tangible Book Value Per Share $ 21.42 $ 20.14 $ 20.27
 
American Business Bank    
Figures in $000, except per share amounts
     
INCOME STATEMENT (unaudited)
 
 
For the three months ended:
December September December
  2018       2018       2017  

Interest Income:

Loans $ 14,124 $ 13,156 $ 9,701
Investment Securities 4,747 4,625 4,055
  Interest Earning Deposits in Other Financial Institutions   868       414       300  
Total Interest Income 19,739 18,195 14,056
 

Interest Expense:

Interest Bearing Transaction Accounts 110 113 66
Money Market and Savings Deposits 725 587 297
Certificates of Deposits 97 96 40
  Federal Home Loan Bank Advances / Other Borrowings   1       12       15  
Total Interest Expense 933 808 418
 
Net Interest Income 18,806 17,387 13,638
  Provision for Loan Losses       1,543       505       -  
Net Interest Income after Provision for Loan Losses 17,263 16,882 13,638
 

Non-Interest Income:

Deposit Fees 505 496 428
International Fees 281 237 185
Net Gains (Losses) on Sale of Investment Securities (74 ) (208 ) (299 )
Gains on Sale of SBA Loans 141 149 -
  Other             (207 )     395       477  
Total Non-Interest Income 646 1,069 791
 

Non-Interest Expense:

Compensation and Benefits 5,959 8,960 7,357
Occupancy and Equipment 792 874 650
Professional Services 1,269 1,042 1,467
Promotion Expenses 402 341 273
  Other             1,130       1,274       1,211  
Total Non-Interest Expense 9,552 12,491 10,958
 
Earnings before income taxes 8,357 5,460 3,471
  Provision for Income Tax       2,262       1,318       6,006  
 
NET INCOME (LOSS)       $ 6,095     $ 4,142     $ (2,535 )
Add back:
After-Tax Net Gains (Losses) on Sale of Investment Securities $ 54 $ 158 $ (219 )
After-Tax DCP ABB Stock Expense (Benefit) $ (1,199 ) $ 307 $ (147 )
Tax Reform Act Deferred Tax Asset Writeoff $ - $ - $ 5,139
Core Net Income       $ 4,950     $ 4,607     $ 2,238  
 

Per Share Information:

Earnings Per Share - Basic $ 0.79 $ 0.54 $ (0.34 )
 
Earnings Per Share - Diluted $ 0.77 $ 0.53 $ (0.34 )
Core Earnings Per Share - Diluted $ 0.63 $ 0.58 $ 0.29
 
Weighted Average Shares - Basic 7,700,091 7,683,427 7,538,515
 
Weighted Average Shares - Diluted 7,881,465 7,885,205 7,538,515
 
American Business Bank  
Figures in $000, except per share amounts
     
INCOME STATEMENT (unaudited)
 
 
For the twelve months ended:
December December
  2018       2017  

Interest Income:

Loans $ 49,738 $ 36,943
Investment Securities 19,007 18,658
  Interest Earning Deposits in Other Financial Institutions   1,420       720  
Total Interest Income 70,165 56,321
 

Interest Expense:

Interest Bearing Transaction Accounts 374 263
Money Market and Savings Deposits 2,100 969
Certificates of Deposits 331 152
  Federal Home Loan Bank Advances / Other Borrowings   329       329  
Total Interest Expense 3,134 1,713
 
Net Interest Income 67,031 54,608
  Provision for Loan Losses       3,811       628  
Net Interest Income after Provision for Loan Losses 63,220 53,980
 

Non-Interest Income:

Deposit Fees 1,899 1,668
International Fees 932 752
Net Gains (Losses) on Sale of Investment Securities (627 ) (365 )
Gains on Sale of SBA Loans 886 -
  Other             833       1,694  
Total Non-Interest Income 3,923 3,749
 

Non-Interest Expense:

Compensation and Benefits 31,674 26,129
Occupancy and Equipment 3,253 2,669
Professional Services 4,658 4,149
Promotion Expenses 1,336 1,174
  Other             4,583       5,413  
Total Non-Interest Expense 45,504 39,534
 
Earnings before income taxes 21,639 18,195
  Provision for Income Tax       5,246       9,876  
 
NET INCOME       $ 16,393     $ 8,319  
Add back:
After-Tax Net Gains (Losses) on Sale of Investment Securities $ 475 $ 167
After-Tax DCP ABB Stock Expense (Benefit) $ (890 ) $ 731
Tax Reform Act Deferred Tax Asset Writeoff $ - $ 5,139
Core Net Income       $ 15,978     $ 14,356  
 

Per Share Information:

Earnings Per Share - Basic $ 2.15 $ 1.11
 
Earnings Per Share - Diluted $ 2.09 $ 1.07
Core Earnings Per Share - Diluted $ 2.03 $ 1.84
 
Weighted Average Shares - Basic 7,642,390 7,508,168
 
Weighted Average Shares - Diluted 7,860,712 7,799,952
 
American Business Bank    
Figures in $000
     
SUPPLEMENTAL DATA (unaudited)
 
 
         
December September December
  2018       2018       2017  

Performance Ratios:

Quarterly:

Return on Average Assets (ROAA) 1.12 % 0.80 % -0.54 %
Core Return on Average Assets (ROAA) 0.91 % 0.89 % 0.48 %
 
Return on Average Equity (ROAE) 15.52 % 10.74 % -6.47 %
Core Return on Average Equity (ROAE) 12.61 % 11.95 % 5.71 %
 

Year-to-Date

Return on Average Assets (ROAA) 0.80 % 0.69 % 0.45 %
Core Return on Average Assets (ROAA) 0.78 % 0.74 % 0.78 %
 
Return on Average Equity (ROAE) 10.65 % 8.98 % 5.60 %
Core Return on Average Equity (ROAE) 10.38 % 9.68 % 9.66 %
 

Capital Adequacy:

Total Capital Ratio 14.09 % 14.70 % 16.51 %
Common Equity Tier 1 Ratio 12.84 % 13.45 % 15.26 %
Tier 1 Capital Ratio 12.84 % 13.45 % 15.26 %
Tier 1 Leverage Ratio 8.33 % 8.48 % 8.55 %
Tangible Common Equity / Tangible Assets 7.65 % 7.39 % 8.16 %
 

Asset Quality Overview

Non-Performing Loans $ 1,222 $ 1,361 $ 915
  Loans 90+Days Past Due and Still Accruing   -       -       -  
Total Non-Performing Loans 1,222 1,361 915
 
Restructured Loans 235 237 243
 
Other Real Estate Owned - - -
 
ALLL / Gross Loans 1.40 % 1.40 % 1.48 %
Non-Performing Loans / Total Loans * 0.12 % 0.14 % 0.13 %
Non-Performing Assets / Total Assets * 0.07 % 0.08 % 0.06 %
Net Charge-Offs (Recoveries) quarterly $ (10 ) $ (13 ) $ (1 )
Net Charge-Offs (Recoveries) year-to-date $ (53 ) $ (43 ) $ (46 )
Net Charge-Offs (Recoveries) year-to-date / Average Gross Loans (0.00 %) (0.00 %) (0.01 %)
 
*

Includes non-accrual loans, accruing loans past due 90+ days and Troubled Debt Restructurings (TDRs).

 
American Business Bank          
Figures in $000
       
QUARTERLY AVERAGE BALANCE SHEETS AND YIELD ANALYSIS (unaudited)
 
 
For the three months ended:            
December 2018 September 2018
Average Interest Average Average Interest Average
Balance   Inc/Exp   Yield/Rate Balance   Inc/Exp   Yield/Rate

Interest Earning Assets:

Interest Earning Deposits with Other Financial Institutions $ 150,483 $ 868 2.34 % $ 80,898 $ 414 2.08 %
 

Investment Securities:

US Agencies 459,879 1,886 1.64 % 493,172 2,093 1.70 %
Mortgage Backed Securities 137,272 957 2.79 % 112,564 804 2.86 %
State and Municipals 174,603 1,492 3.42 % 175,161 1,496 3.41 %
US Treasuries 10,059 37 1.46 % 10,066 37 1.46 %
    Corporate Bonds       2,000     17   3.41 %     2,000     16   3.30 %
Securities Available-for-Sale and Held-to-Maturity 783,813 4,389 2.19 % 792,963 4,446 2.19 %
    Federal Home Loan Bank Stock     10,611     358   13.50 %     10,611     179   6.76 %
Total Investment Securities 794,424 4,747 2.34 % 803,574 4,625 2.25 %

Gross Loans:

Commercial Real Estate 782,799 9,164 4.64 % 748,331 8,693 4.61 %
Commercial and Industrial 317,882 4,031 5.03 % 295,338 3,600 4.84 %
Residential Real Estate 62,307 819 5.21 % 61,767 784 5.04 %
    Installment and Other       4,245     110   10.32 %     3,755     79   8.32 %
      Total Gross Loans       1,167,233     14,124   4.80 %     1,109,191     13,156   4.71 %
  Total Interest Earning Assets     $ 2,112,140   $ 19,739   3.66 %   $ 1,993,663   $ 18,195   3.57 %
 

Liabilities:

Non-Interest Bearing Demand Deposits 1,029,346 - 0.00 % 956,243 - 0.00 %
Interest Bearing Transaction Accounts 197,465 110 0.22 % 201,146 113 0.22 %
Money Market and Savings Deposits 712,486 725 0.40 % 663,767 587 0.35 %
  Certificates of Deposit       64,269     97   0.60 %     68,957     96   0.55 %
Total Deposits 2,003,566 932 0.18 % 1,890,113 796 0.17 %
  Federal Home Loan Bank Advances / Other Borrowings   402     1   1.48 %     2,946     12   1.66 %
  Total Interest Deposits and Borrowings     974,622     933   0.38 %     936,816     808   0.34 %
  Total Deposits and Borrowings   $ 2,003,969   $ 933   0.18 %   $ 1,893,059   $ 808   0.17 %
 
Net Interest Income $ 18,806 $ 17,387
Net Interest Rate Spread 3.48 % 3.40 %
Net Interest Margin 3.53 % 3.46 %
 
American Business Bank          
Figures in $000
       
QUARTERLY AVERAGE BALANCE SHEETS AND YIELD ANALYSIS (unaudited)
 
 
For the three months ended:          
December 2018 December 2017
Average Interest Average Average Interest Average
Balance   Inc/Exp   Yield/Rate Balance   Inc/Exp   Yield/Rate

Interest Earning Assets:

Interest Earning Deposits with Other Financial Institutions $ 150,483 $ 868 2.34 % $ 90,335 $ 300 1.35 %
 

Investment Securities:

US Agencies 459,879 1,886 1.64 % 560,796 2,078 1.48 %
Mortgage Backed Securities 137,272 957 2.79 % 84,089 346 1.65 %
State and Municipals 174,603 1,492 3.42 % 156,204 1,384 3.54 %
US Treasuries 10,059 37 1.46 % 10,086 37 1.46 %
    Corporate Bonds       2,000     17   3.41 %     3,500     27   3.06 %
Securities Available-for-Sale and Held-to-Maturity 783,813 4,389 2.19 % 814,675 3,872 1.86 %
    Federal Home Loan Bank Stock     10,611     358   13.50 %     10,190     183   7.18 %
Total Investment Securities 794,424 4,747 2.34 % 824,865 4,055 1.92 %

Gross Loans:

Commercial Real Estate 782,799 9,164 4.64 % 616,685 6,829 4.39 %
Commercial and Industrial 317,882 4,031 5.03 % 201,087 2,163 4.27 %
Residential Real Estate 62,307 819 5.21 % 57,102 665 4.62 %
    Installment and Other       4,245     110   10.32 %     3,781     44   4.63 %
      Total Gross Loans       1,167,233     14,124   4.80 %     878,655     9,701   4.38 %
  Total Interest Earning Assets     $ 2,112,140   $ 19,739   3.66 %   $ 1,793,855   $ 14,056   3.07 %
 

Liabilities:

Non-Interest Bearing Demand Deposits 1,029,346 - 0.00 % 883,352 - 0.00 %
Interest Bearing Transaction Accounts 197,465 110 0.22 % 164,351 66 0.16 %
Money Market and Savings Deposits 712,486 725 0.40 % 598,275 297 0.20 %
  Certificates of Deposit       64,269     97   0.60 %     44,583     40   0.36 %
Total Deposits 2,003,566 932 0.18 % 1,690,561 403 0.09 %
  Federal Home Loan Bank Advances / Other Borrowings   402     1   1.48 %     4,239     15   1.41 %
  Total Interest Deposits and Borrowings     974,622     933   0.38 %     811,448     418   0.20 %
  Total Deposits and Borrowings   $ 2,003,969   $ 933   0.18 %   $ 1,694,800   $ 418   0.10 %
 
Net Interest Income $ 18,806 $ 13,638
Net Interest Rate Spread 3.48 % 2.97 %
Net Interest Margin 3.53 % 3.02 %
 
American Business Bank          
Figures in $000
       
YEAR-TO-DATE AVERAGE BALANCE SHEETS AND YIELD ANALYSIS (unaudited)
 
 
For the twelve months ended:          
December 2018 December 2017
Average Interest Average Average Interest Average
Balance   Inc/Exp   Yield/Rate Balance   Inc/Exp   Yield/Rate

Interest Earning Assets:

Interest Earning Deposits with Other Financial Institutions $ 66,602 $ 1,420 2.16 % $ 50,593 $ 720 1.44 %
 

Investment Securities:

US Agencies 515,083 8,740 1.70 % 555,397 8,855 1.59 %
Mortgage Backed Securities 108,563 2,975 2.74 % 78,631 1,409 1.79 %
State and Municipals 179,656 6,187 3.44 % 202,962 7,507 3.70 %
US Treasuries 10,069 148 1.47 % 3,399 50 1.46 %
    Corporate Bonds       2,087     65   3.13 %     5,439     156   2.86 %
Securities Available-for-Sale and Held-to-Maturity 815,458 18,115 2.19 % 845,828 17,977 2.10 %
    Federal Home Loan Bank Stock     10,486     892   8.49 %     9,960     681   6.83 %
Total Investment Securities 825,944 19,007 2.27 % 855,788 18,658 2.15 %

Gross Loans:

Commercial Real Estate 722,717 32,851 4.55 % 590,204 25,666 4.35 %
Commercial and Industrial 282,141 13,380 4.74 % 207,527 8,740 4.21 %
Residential Real Estate 63,688 3,171 4.98 % 52,521 2,388 4.55 %
    Installment and Other       3,779     338   8.91 %     3,984     149   3.74 %
      Total Gross Loans       1,072,325     49,738   4.64 %     854,236     36,943   4.32 %
  Total Interest Earning Assets     $ 1,964,871   $ 70,165   3.52 %   $ 1,760,617   $ 56,321   3.16 %
 

Liabilities:

Non-Interest Bearing Demand Deposits 941,057 - 0.00 % 851,634 - 0.00 %
Interest Bearing Transaction Accounts 188,101 374 0.20 % 170,602 263 0.15 %
Money Market and Savings Deposits 650,134 2,100 0.32 % 568,749 969 0.17 %
  Certificates of Deposit       63,085     331   0.53 %     42,313     152   0.36 %
Total Deposits 1,842,377 2,805 0.15 % 1,633,298 1,384 0.08 %
  Federal Home Loan Bank Advances / Other Borrowings   20,037     329   1.64 %     41,726     329   0.79 %
  Total Interest Deposits and Borrowings     921,357     3,134   0.34 %     823,390     1,713   0.21 %
  Total Deposits and Borrowings   $ 1,862,414   $ 3,134   0.17 %   $ 1,675,025   $ 1,713   0.10 %
 
Net Interest Income $ 67,031 $ 54,608
Net Interest Rate Spread 3.35 % 3.06 %
Net Interest Margin 3.41 % 3.10 %

Contacts

Karen Schoenbaum
EVP/CFO
(213) 430-4000
www.americanbusinessbank.com

Contacts

Karen Schoenbaum
EVP/CFO
(213) 430-4000
www.americanbusinessbank.com