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Americas United Bank Announces Results for the Second Quarter 2013

  Americas United Bank Announces Results for the Second Quarter 2013

Business Wire

GLENDALE, Calif. -- July 26, 2013

Americas United Bank (OTCQB: AUNB) today announced its unaudited results of
operations for the second quarter and six-month period ended June 30, 2013.
For the quarter, the Bank earned $400,000, or $0.14 per share, compared to net
income of $392,000, or $0.14 per share for 2012. The year-to-date earnings
were $456,000, or $0.16 per share, compared to net income of $521,000, or
$0.18 per share for 2012.

Total assets were $119.7 million at quarter end, up from $114.6 million at
year-end 2012, and up from $106.9 million at June 30, 2012. Total net loans
were $77.1 million at quarter-end, up from $70.6 million at year-end 2012, and
up from $64.8 million at June 30, 2012. Total deposits reached $95.2 million
at June 30, 2013, compared to $86.6 million at December 31, 2012, and $80.2
million at June 30, 2012.

“We had modest growth in the quarter as a result of our focus on expanding our
balance sheet and adding quality earning assets. Our loans in particular have
been a focal point and we remain committed to growth in this area. With this
modest growth, we were able to post a quarterly profit of $400,000 and
$456,000 for the year-to-date. We continue to key in on our core earnings and
remain optimistic that with continued strategic growth our earnings will
favorably reflect the results of that strategy. As we indicated in the prior
quarter, when comparing our earnings to the prior year quarter, there was some
early loan prepayment activity that impacted the results in loans outstanding,
interest income, and net interest margin. We are however, building the core
customer base and adding to the business development team to continue to grow
the Bank. The positive earnings are the results of the collective efforts of
our team and we look forward to our continued success going forward,” said
Adriana M. Boeka, President and Chief Executive Officer.

Selected highlights for second quarter 2013 versus second quarter 2012:

  *Asset growth of $12.8 million, or 12.0%, to $119.7 million;
  *Gross Loan growth of $11.3 million, or 16.8%, to $78.6 million;
  *Deposit growth of $15.0 million, or 18.7%, to $95.2 million;
  *Non-Maturing Demand deposit growth of $4.2 million, or 8.1%, to $55.6
    million;
  *Shareholders’ Equity growth of $1.8 million, or 9.9%, to $20.0 million;
  *Net Interest Income decline of $34,000, or 3.6%, to $913,000;
  *Interest Expense reduction of $32,000, or 21.5%, to $116,000;
  *Provision for Loan and Lease Loss was a reversal of $300,000 in 2013, as
    compared to a $283,000 reversal in 2012;
  *Ending Allowance for Loan and Lease Loss decreased to 2.1% of gross loans
    as compared to 3.6% in 2012.
  *Non-performing loans of $286,000, equated to 0.36% of total loans;

  *Non-performing assets to Tier 1 Capital plus Allowance for Loan and Lease
    Loss (known as the “Texas Ratio”) down to 1.32%.

The Bank capital ratios at June 30, 2013 are as follows:

  *Tier 1 Capital Ratio of 17.11%
  *Tier 1 Risk-Based Capital Ratio of 25.24%
  *Total Risk-Based Capital Ratio of 26.50%

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.

Information on products and services may be obtained by calling (818) 637-7000
or visiting the Bank’s website at www.aubank.com.

About Americas United Bank:

Americas United Bank (AUB) was formed as a commercial bank with a focused
niche in the Hispanic marketplace. It was founded by a group of respected and
successful business leaders primarily from the Hispanic community and was the
Second such formed bank in over thirty years. AUB operates as a full-service
commercial bank that provides business and personal banking products and
services.

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.

                                                                 
2nd QUARTER
REPORT                                         
(Unaudited)
BALANCE SHEET
                                                                      
                June 30,          June 30,          December 31,
                  2013              2012              2012
Assets
Cash and Cash   $ 2,207,943       $ 2,628,971       $ 2,933,798
Equivalents
Investments
and Interest
Bearing           12,321,844        7,753,579         11,221,485
Deposit at
Banks
Federal Funds     26,958,381        30,770,000        28,580,000
Gross Loans       78,563,443        67,269,354        72,368,003
Allowance for     (1,672,493  )     (2,425,344  )     (1,885,369  )
Loan Losses
Property and
Equipment,        174,868           238,473           208,576
net
Other Assets     1,133,307      628,802        1,195,819   
Total Assets    $ 119,687,293   $ 106,863,835   $ 114,622,312 
                                                                      
Liabilities
and
Shareholders’
Equity
Non-Maturing    $ 55,636,302      $ 51,470,926      $ 58,078,024
Deposits
Certificates      39,569,859        28,740,430        28,533,269
of Deposit
Total             95,206,161        80,211,356        86,611,293
Deposits
Other             4,000,000         8,000,000         8,000,000
Borrowings
Other            481,002        460,169        514,836     
Liabilities
Total             99,687,163        88,671,525        95,126,129
Liabilities
Shareholders’    20,000,130     18,192,310     19,496,183  
Equity
Total
Liabilities
and             $ 119,687,293   $ 106,863,835   $ 114,622,312 
Shareholders’
Equity
                                                                      
                                                              
STATEMENT OF
OPERATIONS
                3 Months Ended                      Year-to-Date
                June 30, 2013     June 30, 2012     June 30, 2013     June 30, 2012
Interest        $ 1,028,878       $ 1,094,738       $ 2,053,256       $ 2,241,458
Income
Interest         116,025        147,760        228,432        300,528   
Expense
Net Interest      912,853           946,978           1,824,824         1,940,930
Income
Provision for     (300,000    )     (283,221    )     (300,000    )     (313,221  )
Loan Losses
Other Income      95,847            56,936            158,119           139,062
Other            908,752        894,577        1,826,896      1,871,241 
Expenses
Earnings
before Income     399,948           392,558           456,047           521,972
Taxes
Income Taxes     225            300            525            600       
Net Income      $ 399,723       $ 392,258       $ 455,522       $ 521,372   
                                                                      
Common Shares
Issued and        2,878,150         2,878,150         2,878,150         2,878,150
Outstanding
Basic
Earnings Per    $ 0.14            $ 0.14            $ 0.16            $ 0.18
Share
Return on
Average           0.81        %     0.51        %     0.81        %     1.01      %
Assets
(annualized)
Return on
Average           4.69        %     2.96        %     4.69        %     5.91      %
Equity
(annualized)
Net Interest      3.19        %     3.65        %     3.31        %     3.81      %
Margin
Efficiency        90.09       %     89.11       %     92.13       %     89.96     %
Ratio
                                                                      
                                                              
SELECTED
RATIOS
                June 30, 2013     June 30, 2012     Dec. 31, 2012
Tier 1
Leverage          17.11       %     17.27       %     17.46       %
Capital Ratio
Tier 1
Risk-Based        25.24       %     26.80       %     26.05       %
Capital Ratio
Total
Risk-Based        26.50       %     28.08       %     27.32       %
Capital Ratio
Allowance for
Loan & Lease
Losses (ALLL)     2.13        %     3.61        %     2.61        %
as a % of
Total Loans
Non
Performing
Assets as a %     0.24        %     0.50        %     0.35        %
of Total
Assets
Non
Performing
Assets as a %     0.36        %     0.79        %     0.56        %
of Total
Loans
Net Charge
Offs as a %       -0.11       %     -0.38       %     -0.57       %
of Total
Loans
Total ALLL as
a % of Non        583.9       %     454.6       %     468.1       %
Performing
Loans
Texas Ratio
(Non
Performing        1.32        %     2.59        %     1.88        %
Assets as a %
of T1 Capital
& ALLL)
Basic Book
Value Per       $ 6.95            $ 6.32            $ 6.77
Share
                                                                      
                                                              
www.aubank.com

Contact:

Americas United Bank
Adriana M. Boeka, President and Chief Executive Officer
(818) 637-7000
or
Jeffrey Pollard, Executive Vice President and CFO
(818) 637-7000
 
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