American Business Bank Announces Record 3rd Quarter Earnings.

LOS ANGELES -- American Business Bank (OTCBB:AMBZ) today reported net earnings for the third quarter of $901,000, or $0.45 per share, a 78 percent increase from earnings of $506,000, or $0.27 per share, for the same period a year ago.

The company also reported that its total assets grew to $440 million at the close of the third quarter, a 28 percent increase from assets of $343 million at the end of the third quarter in 2003.

"This marks our 23rd consecutive quarter of increasing quarterly earnings since the bank's founding just six years ago," said Wes Schaefer, vice chairman and chief financial officer of Los Angeles-based American Business Bank. "Our risk-based capital remains one of the highest of our peer group and we continue to retain a 'well-capitalized' designation. In light of the low risk profile of our asset and liability structure, it is all the more impressive that we have been able to achieve record profitability this year for our shareholders."

According to Schaefer, American Business Bank's year-to-date earnings have now exceeded $2.1 million, a 60 percent increase over the first nine months of 2003.

For the third quarter, American Business Bank's total deposits grew to $396 million, a 24 percent increase from the third quarter of the prior year. The bank also reported a 15 percent increase in total loans, net of reserves, to $146 million at the end of the quarter.

Founded in 1998, American Business Bank offers a wide range of financial services to businesses in the middle market. Clients include wholesalers, manufacturers, service businesses, professionals and non-profit organizations. The bank is headquartered in downtown Los Angeles and can be found on the Internet at www.americanbusinessbank.com.