American Bank Announces Potential Gain on Investment.ALLENTOWN, Pa. -- American Bank Incorporated (NasdaqSC:AMBK), the parent company of American Bank, today announced that it could realize a significant gain on the sale of shares of PSB PSB Pet Shop Boys (band) PSB Public Service Broadcasting (radio and television) PSB Public Service Board (Vermont) PSB Public Security Bureau (China) Bancorp, Inc. if the proposed acquisition of PSB Bancorp by Conestoga Bancorp, Inc. is completed. American Bank Incorporated owns 347,643 shares of PSB Bancorp common stock at an average cost per share of $9.18. PSB Bancorp, the holding company for First Penn Bank, announced on August 31st that it has executed a definitive agreement with Conestoga Bancorp for the sale of PSB Bancorp to Conestoga Bancorp at a price of $17.00 per share, payable in cash. The price per share payable by Conestoga Bancorp is subject to a potential maximum downward adjustment of $0.66 per share. The sale could result in an after-tax gain for American Bank Incorporated of approximately $1.66 to $1.82 million, or $0.28 to $0.30 per American Bank Incorporated share, respectively. The transaction is expected to close in the fourth quarter of 2006 or the first quarter of 2007. About American Bank American Bank serves the Lehigh Valley The Lehigh Valley or the Allentown-Bethlehem-Easton, PA-NJ metropolitan area is a metropolitan region in eastern Pennsylvania and western New Jersey, in the United States. It is the third-most populated metropolitan region in Pennsylvania, after Philadelphia and Pittsburgh. community in eastern Pennsylvania and is recognized as a leading provider of Internet banking and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. nationwide. American Bank offers a complete selection of banking services that includes checking, money market, savings, certificates of deposit, consumer and commercial loans, free personal online bill payment, credit cards and VISA debit   The old Visa and Delta logos. cards. Pcbanker.com delivers a full range of real-time Internet banking, insurance and discount brokerage A discount brokerage is a business that charges clients significantly lower fees than traditional brokerages, typically offering comparatively fewer services and/or advice. services, while consistently offering some of the best loan and deposit rates in the United States. American Bank has received the Bankrate.com(R) Top Tier award for consistently offering annual percentage yields (APY's) that were among the highest reported. American Bank is FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured. American Bank Online and pcbanker.com are registered trademarks for the Internet financial services provided by American Bank, a state-chartered, FDIC insured full-service financial institution serving customers throughout the United States. American Bank is a member of the Federal Reserve System. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this press release regarding American Bank's business which are not historical facts, including expectations regarding future financial results, are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from such statements. |
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