Americas United Bank is Identified as a Minority Depository Institution.GLENDALE, Calif. -- Americas United Bank (AUB AUB Auburn (University) AUB Alstublieft (Dutch: please) AUB American University of Beirut (Beirut, Lebanon) AUB Abnormal Uterine Bleeding AUB Ahli United Bank ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AUNB) is proud to announce the FDIC's qualifying and designating AUB a Minority Depository Institution Depository institution A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. , a prestigious and limited distinction. Likewise, the Department of Treasury, Financial Management Service (FMS FMS - Flexible Manufacturing System (factory automation). ) certified AUB as a minority financial institution under its Minority Bank Deposit Program for year 2007. Although AUB is a full-service, multi-ethnic commercial bank serving all business banking needs, the bank places special emphasis on supporting the Hispanic Community. Minority Depository Institutions (MDIs) often play a unique role in promoting the economic viability of under-served communities. FDIC's Policy Statement defines "minority depository institution" as any Federally insured depository institution where 51% or more of voting stock Voting stock The shares in a corporation that entitle the shareholder to vote. voting stock Stock for which the holder has the right to vote in the election of directors, in the appointment of auditors, or in other matters brought up at the is owned by minority individuals; or a majority of the bank's directors are minority and the community that the financial institution serves is predominantly minority. Americas United Bank meets these criteria. Separately, the FMS certifies banks based on minority ownership criteria as disclosed within a certification application. AUB's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President Gil Dalmau readily states that the bank is uniquely prepared to serve the surging Hispanic Business Hispanic Business, Inc. is a media company based in Santa Barbara, California, in the United States of America. Founded by Jesús Chavarría in 1979, Hispanic Business, Inc. publishes information for and about Hispanic professionals and entrepreneurs. community. "Americas United Bank was founded by experienced bankers and business people who have turned an idea into a dream and converted those dreams into successful businesses. Many of our founders represent very successful minority business owners. We will continue to present an environment where businesses banking with AUB, minority or otherwise, can thrive," stated Dalmau. Christopher Colella, AUB's Executive Vice President and Chief Credit Officer, was instrumental in filing the details with the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). and FMS to obtain MDI (1) (Multiple Document Interface) A Windows function that allows an application to display and lets the user work with more than one document at the same time. status. He is quick to point out: "What really distinguishes us from other institutions is our level of expertise and commitment to the business community." About Americas United Bank Americas United Bank (AUB) opened its doors for business in Glendale, California, as a State-Chartered financial institution on November 6, 2006. It is the first primarily Hispanic-owned bank to open in the state of California in over thirty years. Founded by a group of respected and successful business leaders (primarily from the Hispanic community), AUB is a full-service commercial bank that provides business and personal banking products and services, including business and real estate loans, SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government loans, lines of credit, corporate debit & credit cards, international trade solutions, and more. AUB's founders understand from first-hand experience that locally-owned banks with local decision-making power are critical to business growth. AUB represents the bridge between companies and their business dreams. It provides the working capital they need to succeed in addition to offering attractive loan terms that make expansion and capital improvements more feasible. AUB is a bank made up of business people for business people. The business-minded founders of AUB recognize that the bank's success will be driven by the success of its customers. Certain statements in the press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to the local and national economy, the Bank's performance and implementation of its business plans, loan performance, interest rates and regulatory matters. For more information on the Bank, please visit www.aubank.com or call 818 637-7000. |
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