AmericasBank Corp. Announces Management Changes
May 05 2008 - 1:00PM
Business Wire
AmericasBank Corp. (Nasdaq:AMAB), the parent company of
AmericasBank, today announced the dismissal of Mark H. Anders as
President and Chief Executive Officer of the Company and the Bank.
The Company has appointed A. Gary Rever as acting Chief Executive
Officer of the Company and AmericasBank effective immediately.
Further, Ellen R. Fish has been promoted to Director of Community
Banking and will have responsibility for our banking centers in
Towson and Annapolis. Eric W. Edstrom will continue to lead the
expansion efforts in Annapolis. Gary Rever came to AmericasBank in
August 2003 as Chief Financial Officer and guided the institution
through the process leading to reinstatement as a public company.
He also managed two successful capital raising efforts for $5
million in 2004 and $11 million in 2006. �Gary has 30 plus years in
banking and industry experience and a strong background in
financial management and operations,� commented Lee Warner,
Chairman. �We are fortunate to have someone with Gary�s diverse
background and experience to step in and lead us forward.� Ellen
Fish has worked in banking in Towson and Baltimore since moving to
the area in 1984, and joined AmericasBank in May 2007 as the
President of the Towson Community Bank, which operates as a
division of AmericasBank. �Ellen is a well respected banker and
community leader,� said Lee Warner. Ellen served as Senior
Vice-President, Commercial Banking, at Provident Bank, a post she
held from 1997 until joining Towson Community Bank. While at
Provident, she held management positions for small business
banking, middle market banking, Provident Lease Corp, and private
banking. As founder and Chairman of the Board for the Baltimore
County Small Business Resource Center, Ellen has worked closely
with small businesses. She is involved with the College of Business
and Economics at Towson University where she serves as a member of
the College�s Advisory Board. She is a past Chairman of the Board
of the Baltimore County Chamber of Commerce and currently a member
of the board of the Maryland Chamber of Commerce. Ellen was named
one of Maryland�s Top 100 Women by The Daily Record for the third
time in 2008 and will be inducted into their Circle of Excellence
in May. �Ellen Fish is an excellent banker with high quality
service standards,� commented A. Gary Rever. �Her knowledge and
discipline will serve her well in her expanded leadership role as
we continue to pursue our community banking strategy.� About
AmericasBank Corp. AmericasBank Corp. is the parent company of
AmericasBank, a Maryland-chartered commercial bank headquartered in
Towson, Maryland. AmericasBank is dedicated to contributing to the
growth and prosperity of the communities it serves, with a special
focus on serving the needs of the business community and promoting
home ownership. AmericasBank operates its banking center in the
Towson, Maryland market under the trade name of Towson Community
Bank, and the banking center in the Annapolis, Maryland market as
Annapolis Community Bank. The statements in this press release that
are not historical facts constitute "forward-looking statements" as
defined by Federal Securities laws. Such statements, regarding
AmericasBank Corp.'s anticipated future results of operations, are
subject to risks and uncertainties that could cause actual results
to differ materially from future results expressed or implied by
such forward-looking statements. Potential risks and uncertainties
include, but are not limited to: the risk that AmericasBank Corp.
may continue to incur losses; the possible loss of key personnel;
the inability to successfully implement strategic initiatives; risk
of changes in interest rates, deposit flows and loan demand; risk
associated with having a large percentage of residential real
estate loans secured by investment properties; risk of an industry
concentration with respect to deposits; risk of credit losses;
risks associated with residential mortgage lending, including
acting as a correspondent lender; risk associated with a slowdown
in the housing market or high interest rates; the allowance for
loan and lease losses may not be sufficient; operational risks of
the leasing companies to which AmericasBank has extended credit in
connection with the lease portfolio; dependence on third party
vendors; risk of possible future regulatory action as a result of
past violations of the Real Estate Settlement Procedures Act; as
well as changes in economic, competitive, governmental, regulatory,
technological and other factors that may affect AmericasBank Corp.
or AmericasBank specifically or the banking industry generally.
Forward-looking statements speak only as of the date they are made.
AmericasBank Corp. will not update forward-looking statements to
reflect factual assumptions, circumstances or events that have
changed after a forward-looking statement was made. For further
information, please refer to the AmericasBank Corp.'s filings with
the U.S. Securities and Exchange Commission and available at their
web site www.sec.gov.
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