American Commercial Bank Posts Record Earnings for Third Quarter.

Business Editors

VENTURA, Calif.--(BUSINESS WIRE)--Oct. 31, 2000

Americorp (OTCBB:AICA), the holding company for American Commercial Bank, reported third quarter earnings of $964,000 or $0.39 per share fully diluted, which represents a 7.6 percent increase over the $896,000 or $0.41 per share fully diluted that was reported for the same period during 1999.

Year to date earnings total $2,649,000 or $1.10 per share fully diluted, which represents a 34.3 percent increase over the $1,973,000 or $0.90 per share fully diluted that was reported for the same period during 1999.

Total assets for Americorp now stand at $262.2 million. Total Net Loans at Sept. 30, 2000 grew to $196.7 million, a 15.7 percent increase over the same period reported during 1999.

Total shareholders' equity at Sept. 30, 2000 was $24.6 million, representing a 12.0 percent increase from the $21.9 million reported Sept. 30, 1999.

Gerald J. Lukiewski, president and CEO of American Commercial Bank stated, "We continue to experience a healthy and vibrant local economy, which accounts for the record year-to-date earnings that have been posted by the Bank. We are pleased with the growth of our loan portfolio and the quality of the loans and we continue to watch the economic trends for opportunities to advance our earnings momentum."

The Board of Directors previously declared a cash dividend of $0.13 per share on Sept. 21, 2000, marking the 68th consecutive quarterly cash dividend to shareholders.

For further financial information on Americorp, please refer to the company's June 30, 2000 10-Q report available on-line at www.sec.gov.

American Commercial Bank operates six branches in the communities of Ventura, Oxnard and Camarillo. The Bank is also a preferred SBA lender and has a full service mortgage department serving all of Ventura County. Americorp Stock information can be obtained from Maguire Investments, 800/244-4183 or Hoefer & Arnett, 800/346-5544.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act. These include statements that relate to or are dependents on estimates or assumptions including, but not limited to, the Bank's strategies, objectives, and expansion in the growth of its portfolio of loans, investments, and deposits.

These forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results to differ materially from those contemplated by such forward looking statements include the following possibilities: competitive pressure among financial institutions increases significantly; changes in the interest rate environment reduce interest margins; general economic conditions are less favorable than expected; actions that may be taken by regulatory authorities having oversight in the operation.

The Bank undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.