American Business Bank Celebrates the Beginning of Its Seventh Year in Business.

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.

American Business Bank recently reported net earnings for the third quarter of $901,000, or $0.45 per share, a 78% increase from earnings for the same period a year ago. In addition, year-to-date earnings have now exceeded $2.1 million, a 60% increase over the first 9 months of 2003.

These financial milestones have resulted in American Business Bank being ranked the 93rd largest bank in California and the 24th largest bank in Los Angeles County. As part of its ongoing growth strategy, the bank opened new offices in Orange County and the San Fernando Valley.

In 1997, when 1st Business Bank was purchased by Mellon Bank, a group of five senior executives realized that the numerous banking consolidations resulted in fewer locally based business banks to serve the burgeoning small and mid-sized company market. These executives founded and personally raised more than $14.2 million to capitalize American Business Bank. This was the largest management driven bank capitalization in California history at that time.

Since inception, American Business Bank's vision has been to provide superior personal services to privately owned companies with revenues in the $5 million to $150 million range.

The approach is old fashioned, unique for today, but proven successful. American Business Bank is founded on four basic principals: Personal Attention, Stability, Recruitment of Top Employees and Knowledge.

"As we begin our seventh year in business, we have many accomplishments to celebrate including; asset and deposit growth exceeding that of our peer group, a fortress balance sheet and record profitability during the largest interest rate decrease in about 40 years," stated Robert Schack, Chairman.

"We've recruited some of the most highly experienced and well compensated individuals and given them direct client relationship responsibilities. Our clients are responding and we continue to attract more companies," says Don Johnson, President.

Founded in 1998, American Business Bank offers a wide range of financial services to businesses in the middle market. Clients include wholesalers, manufacturers, service businesses, professionals and non-profit organizations. The bank is headquartered in downtown Los Angeles, with regional offices in Woodland Hills and Irvine, and can be found on the internet at http://www.americanbusinessbank.com/.

CONTACT: Amy Goldsmith of GK Communications, +1-310-440-0646, or Daryn Teague, +1-661-297-5292, both for American Business Bank

Web site: http://www.americanbusinessbank.com/