Glendale, CA–(HISPANIC PR WIRE – BUSINESS WIRE)–June 21, 2007–Americas United Bank (AUB) (OTCBB:AUNB) is proud to announce the FDIC’s qualifying and designating AUB a Minority Depository Institution, a prestigious and limited distinction. Likewise, the Department of Treasury, Financial Management Service (FMS) certified AUB as a minority financial institution under its Minority Bank Deposit Program for year 2007.Although AUB is a full-service, multi-ethnic commercial bank serving all business banking needs, the bank places special emphasis on supporting the Hispanic Community. Minority Depository Institutions (MDIs) often play a unique role in promoting the economic viability of under-served communities.
FDIC’s Policy Statement defines “minority depository institution” as any Federally insured depository institution where 51% or more of voting stock is owned by minority individuals; or a majority of the bank’s directors are minority and the community that the financial institution serves is predominantly minority. Americas United Bank meets these criteria. Separately, the FMS certifies banks based on minority ownership criteria as disclosed within a certification application.
AUB’s CEO and President Gil Dalmau readily states that the bank is uniquely prepared to serve the surging Hispanic Business community. “Americas United Bank was founded by experienced bankers and business people who have turned an idea into a dream and converted those dreams into successful businesses. Many of our founders represent very successful minority business owners. We will continue to present an environment where businesses banking with AUB, minority or otherwise, can thrive,” stated Dalmau.
Christopher Colella, AUB’s Executive Vice President and Chief Credit Officer, was instrumental in filing the details with the FDIC and FMS to obtain MDI status. He is quick to point out: “What really distinguishes us from other institutions is our level of expertise and commitment to the business community.”
About Americas United Bank
Americas United Bank (AUB) opened its doors for business in Glendale, California, as a State-Chartered financial institution on November 6, 2006. It is the first primarily Hispanic-owned bank to open in the state of California in over thirty years.
Founded by a group of respected and successful business leaders (primarily from the Hispanic community), AUB is a full-service commercial bank that provides business and personal banking products and services, including business and real estate loans, SBA loans, lines of credit, corporate debit & credit cards, international trade solutions, and more.
AUB’s founders understand from first-hand experience that locally-owned banks with local decision-making power are critical to business growth. AUB represents the bridge between companies and their business dreams. It provides the working capital they need to succeed in addition to offering attractive loan terms that make expansion and capital improvements more feasible. AUB is a bank made up of business people for business people. The business-minded founders of AUB recognize that the bank’s success will be driven by the success of its customers.
Certain statements in the press release, including statements regarding the anticipated development and expansion of the Bank’s business, and the intent, belief or current expectations of the Bank, its directors or its officers, are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to the local and national economy, the Bank’s performance and implementation of its business plans, loan performance, interest rates and regulatory matters.
For more information on the Bank, please visit http://www.aubank.com or call 818 637-7000.