Net earnings for the bank's (AMPBB) first quarter of operations
which ended March 31, 1999:
Net earnings for the period were $79,815 or $0.07 per share, as
compared to $46,815 or $0.04 per share, reported for the same period
last year, an increase of $33,003 or 70.50%. The increase in net
income was due primarily to the increase of loans. As of March 31,
1999, total loans were $40.8 million as compared to $29.8 million for
the same period a year ago, an increase of $11.0 million or 36.91%.
The bank ended the first quarter with $52.5 million in total
assets as compared to $44.2 million in total assets from the previous
year, an increase of $8.30 million or 18.78%. Total deposits were at
$47.6 million as compared to $39.8 million from the previous year, an
increase of $7.80 or 19.60%. As of March 31, 1999, total classified
assets represented only 0.27% of total assets. The bank has not
suffered any losses from the construction and mortgage lending
operations in the last six years. The bank is well-capitalized with
leverage ratio at 8.88% and the risk-based capital ratio at 12.57%.
The bank continued to be liquid with liquidity ratio at 21.28%.
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