American Bank Incorporated Announces Earnings for the Third Quarter and Nine Months Ended September 30, 2013
Net income for the nine months ended September 30, 2013 was $3.3 million, or $0.53 per diluted share, a decrease of $83,000 from the nine months ended September 30, 2012. The primary reason for the decrease in net income for the nine-month period ended September 30, 2013 was an increase in tax expense. During the quarter, Management established a reserve against certain deferred tax assets in the amount of $264,000. Net interest income for the nine months ended September 30, 2013 was $9.9 million, compared to $9.6 million for the nine months ended September 30, 2012.