American Pacific Bank Revenue Up 22%.

Business Editors

PORTLAND, Ore.--(BUSINESS WIRE)--July 10, 2001

David Chen, President and CEO of American Pacific Bank (Nasdaq:AMPB), today announced that the total interest income for the second quarter ended June 30, 2001 was $1,843,765. This was 22% higher than the same quarter last year. Due to the Bank's expansion with the new Wood Village Wal-Mart in-store branch and higher interest expenses, net earnings were $155,008 or $0.11 per share, as compared to $157,524 or $0.11 per share for the same quarter last year.

Total interest income for the six-month period ended June 30, 2001 was $3,782,318. This was 30% higher than the same period last year. Net earnings for the six months ended June 30th, 2001 were $226,527 or $0.15 per share as compared to $253,686 or $0.18 per share for the same period last year.

Mr. Chen said that, coinciding with revenue growth, assets grew 22% from $64.9 million a year ago to $79.4 million as of June 30, 2001. The Bank has achieved steady growth since 1996. Loans grew a net 7% despite the sale of approximately $10 million in commercial real estate loans during the second quarter to reduce the concentrations in the commercial real estate arena. The Bank has not suffered any charge-offs from the construction and mortgage lending operations in the last six years. Deposits grew 21.4 % from $55 million a year ago to $66.8 million.

The Bank continues to be well-capitalized with the risk-based capital ratio at 10.18%.

For further information, contact David Chen.

                         American Pacific Bank

                                          Quarter           Quarter
                                       Ended 6/30/01     Ended 6/30/00
                                             $                 $
                                         Unaudited         Unaudited


Total Assets                            79,416,292        64,944,185
Average Assets                          81,064,193        59,590,762
Total Deposits                          66,826,868        55,035,926
Total Loans (after Loan Loss
 Reserve & Unearned Income)             60,896,425        56,876,321
Total Equity                             6,463,174         5,701,396
Average No of shares          Note 1     1,467,704         1,387,037


                       Quarter     Quarter      Six Months  Six Months
                        Ended       Ended         Ended       Ended
                       6/30/01     6/30/00       6/30/01     6/30/00
                          $           $             $           $
                      Unaudited   Unaudited     Unaudited   Unaudited

Interest Income       1,843,765   1,509,603     3,782,318   2,892,554
Interest Expense     (1,042,478)   (688,742)   (2,147,866) (1,291,314)
Net Interest Income     801,287     820,861     1,634,452   1,601,240

Provision for
 Loan Loss Reserve      (20,000)    (80,820)      (40,000)   (173,177)
Other Income            269,542     230,628       462,077     388,067
Other Expenses         (842,441)   (752,877)   (1,684,929) (1,447,716)
Provision for taxes     (53,380)    (60,268)     (145,073)   (114,728)
Net Income              155,008     157,524       226,527     253,686

Per Share Data:
Earnings Per Share         0.11        0.11          0.15        0.18
Book Value                 4.40        4.11          4.40        4.11

      Note 1 : The Bank did a 11 for 10 split on December 29, 2000. The
Per Share Data June 2000 were adjusted to reflect this split.