American Bank Reports Results of 2002 Annual Shareholder Meeting; Stuart Kaufman and William Blanken Re-Elected Directors.

Business Editors

ROCKVILLE, Md.--(BUSINESS WIRE)--April 2, 2002

Shareholders Reject Dissident Nominee and Proposal

American Bank (OTCBB:BKMD) announced that management's nominees, Stuart A. Kaufman and William B. Blanken, were re-elected to American's Board of Directors at the 2002 Annual Meeting. A dissident shareholder nominee was defeated. Also at the meeting, shareholders ratified the Bank's independent auditors and rejected a new business proposal of the dissident shareholder.

Voting results were calculated by IVS Associates, an independent inspector of elections.

Phillip Bowman, American Bank's President and CEO said, "This is a great message of support from our shareholders." Bowman continued, "It is most unfortunate that the investors of American Bank were put through this expensive and disruptive proxy battle. Since this matter started, the Board has remained confident that the Bank's long-term plan for success is working and is in the best interest of all shareholders. Our shareholders have spoken and they agree."

At the shareholder meeting, which was held in Rockville, Maryland, Mr. Bowman discussed the Bank's strategic business plan, the success the Bank has had in attracting lower cost core deposits and diversifying its loan portfolio, and plans for opening an additional In-store branch and moving the Bank's administrative offices. Mr. Bowman also noted the expensive and distracting impact of the proxy battle, pointing out that the Bank's momentum leading into the first quarter of 2002 was severally disrupted and that results of operations would reflect the impact of the proxy fight. Nonetheless, he emphasized that management is committed to the Bank's long-term plan and, with the proxy battle complete, focused on achieving the Bank's stated goals for shareholders.

American Bank operates three full-service offices located at 1700 Rockville Pike, Rockville, 5600 Connecticut Avenue, Washington D.C. and in the SuperFresh market at 12028 Cherry Hill Road, Silver Spring.

This press release contains forward-looking statements, including those regarding the projected performance of American Bank. These statements, which constitute forward-looking information, within the meaning of the Private Securities Litigation Reform Act of 1995, involve significant risks and uncertainties. Actual results may differ materially from any forward-looking information discussed in this press release.

Factors that might cause such differences include, but are not limited to, fluctuations in interest rates, government regulations and economic conditions and competition in the geographic and business areas in which American Bank conducts its operations, and other similar conditions affecting the Bank's operations, pricing, products, and services.

Except as required by law, American Bank disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements in this press release to reflect future events or developments.

For additional information regarding American Bank, please refer to American Bank's public disclosure documents.