American Bank to Raise $10 Million in New Equity.Business Editors ALLENTOWN, Pa.--(BUSINESS WIRE)--Dec. 20, 2001 American Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABKA ABKA American Boarding Kennels Association ABKA Avon Beekeepers Association (England, UK) ABKA Airedale Beekeepers Association (UK) ) announced today that a registration statement has been filed with the Securities and Exchange Commission regarding a proposed issuance of up to $10 million of additional equity through the sale of a 6% convertible trust preferred security, to be issued by its holding company. The new securities will be offered only to common shareholders of record as of January 15, 2002 at a price of $10.00 per share, with a minimum purchase of 250 shares. In the event of an over subscription, shares subscribed for will be prorated based on the common shares owned on March 15, 2002 by each subscriber divided by the number of shares of common stock owned by all subscribers. Upon finalizing the formation of American Bank, Inc., the holding company for American Bank, all shareholders of American Bank will automatically become shareholders of American Bank, Inc. The holding company reorganization should be completed January 2002. The offering is expected to commence and a prospectus mailed to shareholders on or about February 15, 2002. About American Bank American Bank, through its single location and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the banking solution, pcbanker.com, 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. At September 30, 2001, American Bank had total assets of $354 million and deposits of $242 million. Deposits at American Bank are FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. When available, a prospectus may be obtained by contacting American Bank, 4029 West Tilghman Street, Allentown, PA 18104, 610/366-1800. |
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