American Business Bank ranked among the top 50 community banks with assets between $3 billion and $10 billion for 2021
Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.
LOS ANGELES–(BUSINESS WIRE)–AMERICAN BUSINESS BANK (ABB) (OTCQX: AMBZ) has been named one of S&P Global Market Intelligence’s Top 50 Community Banks with assets between $3 billion and $10 billion for 2021 According to the first list, ABB is one of 10 banks in California to make the top 50 of 2021, being the largest of any other state.
“We are grateful to be recognized for the bank’s outstanding performance in 2021, this achievement demonstrates our commitment to serving and supporting the banking needs of Southern California’s business communities,” said Leon Blankstein, Director general and chairman of ABB. .
ABB listed $3.77 billion in assets, excluding Paycheck Protection Program (PPP) loans, operating revenue growth of 18.2%, non-performing assets and past due loans since 90 days or more of 0.01% and a leverage ratio of 7.09% for the end of the year 2021.
To compile this ranking, S&P Global Market Intelligence calculated each company’s scores based on six metrics: pre-tax return on tangible equity; efficiency rate; growth in operating income; ratio of net charges to average loans and net leases of PPP loans ratio; assets and nonperforming loans past due 90 days or more as a percentage of total assets, net of PPP loans; and leverage ratio.
S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI), the world’s leading provider of credit ratings, benchmarks and analytics in global capital and commodity markets, offering ESG, in-depth data and insights into critical business drivers. S&P Global has more than 160 years of delivering essential insights that unlock opportunity, drive growth and accelerate progress.
ABOUT AMERICAN INVESTMENT BANK
American Business Bank, headquartered in downtown Los Angeles, offers a wide range of financial services to the business market. Customers include wholesalers, manufacturers, service companies, professionals and non-profit organizations. American Business Bank has seven loan origination offices in strategic locations including: North Orange County in Anaheim, Orange County in Irvine, South Bay in Torrance, San Fernando Valley in Woodland Hills, Riverside County in Corona, Inland Empire in Ontario and THE Coastal at Long Beach.
Show source version on businesswire.com: https://www.businesswire.com/news/home/20220329005930/en/
Karen Schoenbaum
Executive Vice President/CFO
(213) 430-4000
www.americanbb.bank
Source: American Investment Bank
