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Article: American Business Bank Celebrates the Beginning of Its Seventh Year in Business.
- Article from:
- PR Newswire
- Article date:
- November 8, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, Nov. 8 /PRNewswire/ -- American Business Bank (BULLETIN BOARD: AMBZ) , a Los Angeles based independently owned bank that provides financial services to businesses in the "middle market," celebrated the beginning of its seventh year in business on October 1.
Founded in 1998 by five former executives from Mellon 1st Business Bank, American Business Bank has gone from $14.2 million to over $440 million in assets. Of the other 15 California banks opened in 1998, most had not reached $200 million in assets at the beginning of 2004. Moreover, of the 11 California banks with assets in the $400 million range, the average institutional age exceeds 21 years. ...