American Business Bank Reports Third Quarter Earnings
AMER BUSINESS BK CA (AMBZ)
NASDAQ:AMEX Investor Relations:
americanbusinessbank.com/news-financials/financial-reports
Company Research
Source: Business Wire
Net Income for the quarter increased over the prior quarter Third Quarter 2024 HighlightsNet income for the quarter totaled $10.8 million, or $1.16 per diluted shareNet yield on interest earning assets increased 7 basis points over the prior quarterTotal deposits increased $258 million or 7.5% over the prior quarterTotal non-interest bearing deposits increased $148 million or 9.3% over the prior quarterCost of average deposits of 1.44% compared to 1.35% in the prior quarterNon-interest bearing demand deposits represent 47% of total depositsNet interest margin expanded to 3.13% from 3.00% in the prior quarterTotal loans increased $22 million or 0.85% over the prior quarterMinimal past due loansNo borrowings at end of third quarter 2024Tangible book value per share of $39.28Continued status as well-capitalized, the highest regulatory category LOS ANGELES, Calif.--(BUSINESS WIRE)--American Business Bank (OTCQX: AMBZ) today reported net income of $10.8 million or $1.16 per fully dilute
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