American Bank Completes Initial Public Offering; Announces Stock Repurchase Program.

Business Editors

ALLENTOWN, Pa.--(BUSINESS WIRE)--June 28, 2000

American Bank announced today that as of June 15, 2000, it successfully concluded an initial public offering that began on May 1, 2000.

American Bank issued over one million new shares of common stock in the Offering, and will have over four million shares outstanding following the Offering.

President and CEO Mark Jaindl stated, "We are very pleased with the response to the initial public offering from our customers and community, and we look forward to utilizing the additional capital to support our continued growth and enhance the value of the company."

American Bank also announced that it ratified a stock repurchase program through a previously approved Employee Stock Ownership Plan ("ESOP"). Through the ESOP, American Bank will purchase shares in the open market and utilize the shares to reward company team members. Mr. Jaindl commented, "The ESOP Plan is a great incentive and will only improve an already strong, dedicated team."

Shares and warrants of American Bank will be traded on the Over-the-Counter Bulletin Board under the symbols ABKA and ABKAW, respectively. Each new subscribing shareholder received one warrant for every two shares of stock subscribed for in the Offering.

Each warrant entitles the holder to purchase one share of American Bank common stock at a price of $10.00 per share at any time through June 30, 2003.

PCBanker.com, a service of 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 cards.

PCBanker.com delivers a full range of real-time Internet banking and discount brokerage services, while consistently offering some of the best loan and deposit rates in the United States. American Mall Online offers a rapidly expanding menu of business-to-consumer and business-to-business e-commerce opportunities.

American Bank has been recognized as one of the top Internet banks in the country by Gomez Advisors, Inc.