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FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Quarter Ended June 30, 2002
Commission File Number 0-11928
AMERICAN BANCORP, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
LOUISIANA 72-0951347
- ------------------------------- -------------------------------
(State or other jurisdiction of (I R S Employer I. D. Number)
incorporation or organization)
321 EAST LANDRY STREET, OPELOUSAS, LA 70570
- --------------------------------------- -------------------------------
(Address of principal executive office) (Zip Code)
(337) 948-3056
- --------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
NOT APPLICABLE
- --------------------------------------------------------------------------------
(Former name, address, fiscal year, if changed since last report)
Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter periods that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. YES X NO
--- ---
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practical date.
Common stock, $5 Par Value-------116,283 shares as of July 31, 2002
AMERICAN BANCORP, INC.
(PARENT COMPANY ONLY)
BALANCE SHEET
(In Thousands Except for Per Share Data)
June 30, 2002 Dec. 31, 2001
------------- -------------
ASSETS
(Unaudited) (Note 1)
Cash on deposit with subsidiary $ 23 $ 24
Investment in subsidiary 13,170 12,235
Dividend receivable 0 0
Due from subsidiary 107 67
------------- -------------
TOTAL ASSETS $ 13,300 $ 12,326
============= =============
LIABILITIES
Accrued income taxes payable $ 102 $ 61
Other liabilities 0 0
------------- -------------
TOTAL LIABILITIES $ 102 $ 61
------------- -------------
SHAREHOLDERS' EQUITY
Common stock, $5 par value; authorized
10,000,000 shares; issued 120,000 shares;
116,283 and 116,589 shares outstanding,
respectively $ 600 $ 600
Surplus 2,150 2,150
Retained earnings 10,037 9,345
Treasury stock, 3,717 and 3,411 shares at cost,
respectively (237) (213)
Net unrealized gain (loss) on securities
available for sale, net of tax 648 383
------------- -------------
TOTAL SHAREHOLDERS' EQUITY $ 13,198 $ 12,265
------------- -------------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $ 13,300 $ 12,326
============= =============
See Notes to Consolidated Financial Statements.
AMERICAN BANCORP, INC.
CONSOLIDATED BALANCE SHEETS
(In Thousands Except for Per Share Data)
June 30, 2002 Dec. 31, 2001
------------- -------------
ASSETS (Unaudited) (Note 1)
Cash and due from banks $ 5,604 $ 5,321
Federal funds sold 2,475 8,925
------------- -------------
Total cash and cash equivalents $ 8,079 $ 14,246
Interest bearing deposits with banks 0 99
Securities held to maturity 1,808 2,306
Securities available for sale 38,966 35,049
Loans - net of allowance for loan losses 38,363 37,146
Bank premises and equipment 1,685 1,771
Other real estate 0 0
Accrued interest receivable 609 583
Other assets 486 390
------------- -------------
TOTAL ASSETS $ 89,996 $ 91,590
============= =============
LIABILITIES
Deposits:
Non-interest bearing demand deposits $ 27,586 $ 27,780
Interest bearing deposits:
NOW accounts 9,559 13,370
Money market accounts 3,000 2,651
Savings 11,424 10,626
Time deposits $ 100,000 or more 7,693 7,311
Other time deposits 16,623 16,950
------------- -------------
Total deposits $ 75,885 $ 78,688
Accrued interest payable 86 131
Other liabilities 827 506
------------- -------------
TOTAL LIABILITIES $ 76,798 $ 79,325
------------- -------------
SHAREHOLDERS' EQUITY
Common stock, $5 par value; authorized
10,000,000 shares; issued 120,000 shares;
116,283 and 116,589 shares outstanding,
respectively $ 600 $ 600
Surplus 2,150 2,150
Retained earnings 10,037 9,345
Treasury stock, 3,717 and 3,411 shares at cost,
respectively (237) (213)
Unrealized gain (loss) on securities
available for sale, net of tax 648 383
------------- -------------
TOTAL SHAREHOLDERS' EQUITY $ 13,198 $ 12,265
------------- -------------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $ 89,996 $ 91,590
============= =============
See Notes to Consolidated Financial Statements.
AMERICAN BANCORP, INC.
(PARENT COMPANY ONLY)
INCOME STATEMENT
(Unaudited)
(In Thousands)
Three Months Ended Six Months Ended
June 30, June 30,
-----------------------------------------------
2002 2001 2002 2001
-------- -------- -------- --------
INCOME FROM SUBSIDIARY
Dividends from bank subsidiary $ 30 $ 30 $ 30 $ 52
OPERATING EXPENSES
Directors fees 3 3 6 6
Other expenses 0 0 0 1
-------- -------- -------- --------
TOTAL EXPENSES 3 3 6 7
-------- -------- -------- --------
Earnings before income tax
and equity in undistributed earnings of
subsidiary 27 27 24 45
Provision for income taxes 0 0 0 0
-------- -------- -------- --------
Earnings before equity in undistributed
earnings of subsidiary 27 27 24 45
Equity in undistributed earnings of
subsidiary 338 256 668 494
-------- -------- -------- --------
Net Income $ 365 $ 283 $ 692 $ 539
======== ======== ======== ========
See Notes to Consolidated Financial Statements.
AMERICAN BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In Thousands Except for Per Share Data)
Three Months Ended Six Months Ended
June 30, June 30,
-----------------------------------------------
2002 2001 2002 2001
-------- -------- -------- --------
INTEREST INCOME:
Interest and fees on loans $ 741 $ 769 $ 1,472 $ 1,510
Interest on investment securities:
Taxable 414 394 789 775
Tax-exempt 126 109 246 211
Other interest 20 57 55 149
-------- -------- -------- --------
TOTAL INTEREST INCOME 1,301 1,329 2,562 2,645
-------- -------- -------- --------
INTEREST EXPENSE:
Interest on deposits 239 402 519 802
Interest on short-term borrowings 0 0 0 0
-------- -------- -------- --------
TOTAL INTEREST EXPENSE 239 402 519 802
-------- -------- -------- --------
NET INTEREST INCOME 1,062 927 2,043 1,843
Provision for possible loan losses 10 11 21 21
-------- -------- -------- --------
Net interest income after provision for
possible loan losses 1,052 916 2,022 1,822
-------- -------- -------- --------
NON-INTEREST INCOME:
Service charges on deposit accounts 132 134 266 267
Investment securities gains (losses) 0 0 0 0
Other 27 21 78 49
-------- -------- -------- --------
TOTAL NON-INTEREST INCOME 159 155 344 316
-------- -------- -------- --------
NON-INTEREST EXPENSE:
Salaries and employee benefits 365 338 723 725
Net occupancy expense 141 162 280 313
Net cost of operation of O.R.E.O 0 0 0 0
Other 211 188 429 378
-------- -------- -------- --------
TOTAL NON-INTEREST EXPENSE 717 688 1,432 1,416
-------- -------- -------- --------
INCOME BEFORE INCOME TAXES 494 383 934 722
Provision for income taxes 129 100 242 183
-------- -------- -------- --------
NET INCOME $ 365 $ 283 $ 692 $ 539
======== ======== ======== ========
Net income per share of common stock $ 3.14 $ 2.41 $ 5.95 $ 4.59
======== ======== ======== ========
See Notes to Consolidated Financial Statements
AMERICAN BANCORP, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
For the Six Month Periods Ended June 30, 2002 & 2001
(Unaudited)
(In Thousands)
ACCUMULATED
OTHER COMPREHENSIVE
COMMON RETAINED COMPREHENSIVE TREASURY INCOME
STOCK SURPLUS EARNINGS INCOME STOCK TOTAL
------- ------- --------- ------------- -------- ------------- -------
Balance December 31, 2000 $ 600 $ 2,150 $ 8,442 $ 19 $ (135) $ 0 $11,076
Comprehensive income
Net income (loss) -- 539 -- -- 539 539
Other comprehensive income,
net of tax:
Change in unrealized gains (losses)
on securities available for sale -- -- 314 -- 314 314
-------------
Total comprehensive income -- -- -- -- $ 853
=============
Purchase of treasury stock -- -- -- (43) (43)
Dividends paid -- -- 0 -- 0
------- ------- --------- ------------- -------- -------
Balance , June 30, 2001 $ 600 $ 2,150 $ 8,981 $ 333 $ (178) $11,886
======= ======= ========= ============= ======== =======
Balance December 31, 2001 $ 600 $ 2,150 $ 9,345 $ 383 $ (213) $ 0 $12,265
Comprehensive income
Net income (loss) -- 692 -- -- 692 692
Other comprehensive income,
net of tax:
Change in unrealized gains (losses)
on securities available for sale -- -- 265 -- 265 265
-------------
Total comprehensive income -- -- -- -- $ 957
=============
Purchase of treasury stock -- -- -- (24) (24)
Dividends paid -- -- -- 0
------- ------- --------- ------------- -------- -------
Balance , June 30, 2002 $ 600 $ 2,150 $ 10,037 $ 648 $ (237) $13,198
======= ======= ========= ============= ======== =======
See Notes to Consolidated Financial Statements
AMERICAN BANCORP, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In Thousands)
Six Months Ended June 30,
-------------------------
2002 2001
-------- --------
OPERATING ACTIVITIES
Net income $ 692 $ 539
Adjustments to reconcile net income to net cash
provided by operating activities:
Discount accretion, net of premium amortization
on investment securities (124) (72)
Depreciation 82 85
Amortization of software 23 0
Provision for loan loss 21 21
(Gain) loss on disposal of assets 0 0
(Increase) decrease in assets:
Other real estate owned 0 0
Accrued interest receivable (25) 61
Other assets 15 (3)
Increase (decrease) in liabilities:
Accrued interest payable (45) (3)
Other liabilities 184 301
-------- --------
Net cash provided by operating activities $ 823 $ 929
-------- --------
INVESTING ACTIVITIES
(Increase) decrease in interest bearing deposits with banks $ 99 $ 99
Proceeds from sales & maturities of available for sale securities 7,738 11,950
Proceeds from sales & maturities of held to maturity securities 1,800 1,200
Purchases of available for sale securities (11,129) (11,359)
Purchases of held to maturity securities (1,303) (511)
(Increase) decrease in loans (1,238) (3,584)
Purchases of property & equipment (126) (282)
Proceeds from sale of property & equipment 0 0
Other (4) 0
-------- --------
Net cash provided by (used in) investing activities $ (4,163) $ (2,487)
-------- --------
FINANCING ACTIVITIES
Increase (decrease) in demand deposits, transaction
accounts and savings $ (2,858) $ (3,739)
Increase (decrease) in time deposits 55 2,116
Dividends paid 0 0
Purchase of treasury stock (24) (43)
-------- --------
Net cash provided by (used in) financing activities $ (2,827) $ (1,666)
-------- --------
Increase (decrease) in cash and cash equivalents $ (6,167) $ (3,224)
Cash and cash equivalents at beginning of year 14,246 11,676
-------- --------
Cash and cash equivalents at end of period $ 8,079 $ 8,452
======== ========
SUPPLEMENTAL DISCLOSURES:
Cash payments for:
Interest expense $ 564 $ 805
======== ========
Income taxes $ 217 $ 130
======== ========
See Notes to Consolidated Financial Statements
AMERICAN BANCORP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 - A BASIS OF PRESENTATION
The accompanying unaudited consolidated financial statements have been
prepared in accordance with generally accepted principles of accounting for
instructions to Form 10-Q and Article 10 of Regulations S-X. Accordingly,
they do not include all of the information and footnotes required by
generally accepted accounting principles for complete financial statements.
In the opinion of management, all adjustments ( consisting of normal
recurring accruals ) considered necessary for a fair presentation have been
included. Operating results for the six month period ended June 30, 2002
are not necessarily indicative of the results that may be expected for the
year ended December 31, 2002.
The balance sheet at December 31, 2001 has been derived from the
audited financial statements at that date, but does not include all of the
information and footnotes required by generally accepted accounting
principles for complete financial statements.
For further information, refer to the consolidated financial
statements and footnotes thereto included in American Bancorp, Inc.'s
annual report on Form 10-K for the year ended December 31, 2001.
NOTE 2 - IMPAIRED LOANS
In accordance with Statement of Financial Accounting Standards (SFAS)
No.114, interest payments received on impaired loans are applied to
principal if there is doubt as to the collectibility of the principal;
otherwise, these receipts are recorded as interest income.
As it relates to in-substance foreclosures, SFAS No. 114 requires that a
creditor continue to follow loan classification on the balance sheet unless
the creditor receives physical possession of the collateral. The Company
had no in-substance foreclosures in foreclosed assets to transfer to
nonperforming loans and no related reserve for losses to transfer to the
reserve for possible loan losses.
NOTE 3 - RELATED PARTIES
Directors, executive officers, and 10 % shareholders and their related
interest had loans outstanding totaling $ 1,010,000 at June 30, 2002.
NOTE 4- EARNINGS PER SHARE
The earnings per share computations are based on weighted average
number of shares outstanding during each quarter of 116,286 and 117,167 for
the quarters ended June 30, 2002 and 2001, respectively and during each six
month period of 116,403 and 117,266 for the six month periods ended June
30, 2002 and 2001, respectively.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
Management's Discussion presents a review of the major factors and trends
affecting the performance of the Company and its bank subsidiary and should be
read in conjunction with the accompanying consolidated financial statements and
notes.
OVERVIEW
The Company reported net income of $ 692,000 for the first six months of
2002 compared to $ 539,000 for the same period of 2001. On a per share basis,
the net income was $ 5.95 for the first six months of 2002 compared to $ 4.59
for the same period of 2001. The Company recorded a provision for possible loan
losses of $ 21,000 and $ 21,000 for the six months ended June 30, 2002 and 2001,
respectively. Net interest income increased 10.85% to $ 2,043,000 for the first
six months of 2002 compared to $ 1,843,000 for the same period of 2001.
Total assets were $ 89,996,000 at June 30, 2002, a decrease of $ 1,594,000
from December 31, 2001. Loans increased by $ 1,217,000 or 3.28 % from $
37,146,000 at December 31, 2001 to $ 38,363,000 at June 30, 2002. Deposits
decreased by $ 2,803,000 or 3.56 % from $ 78,688,000 at December 31, 2001 to $
75,885,000 at June 30, 2002.
RESULTS OF OPERATIONS
NET INTEREST INCOME. Net interest income for the six months ended June 30,
2002 totaled $ 2,043,000, a $ 200,000 increase from the same period in 2001. The
greatest contributing factor to this increase was a decrease in the interest
paid on deposits. An increase in the average balance of investment securities
was also a contributing factor but was partially negated by a reduction in the
yield on those securities. The overall effect on volume and rate changes on net
interest income during the six month period ended June 30, 2002 was favorable.
PROVISION FOR POSSIBLE LOAN LOSSES. The Company recorded provisions for
possible loan losses of $ 21,000 and $ 21,000 for the first six months of 2002
and 2001, respectively. The recognition of these provisions resulted from growth
in the loan portfolio and is not a reflection of a change in asset quality. As a
percentage of outstanding loans, the allowance for possible loan losses was 1.58
% and 1.60 % at June 30, 2002 and December 31, 2001, respectively. The provision
is determined by the level of net charge offs, the size of the loan portfolio,
the level of nonperforming loans, anticipated economic conditions, and review of
financial condition of specific customers.
NONINTEREST INCOME. For the first six months of 2002 noninterest income
increased $ 28,000 or 8.86 % compared to the same period of 2001.
Other non-interest income increased by $ 29,000 or 59.18 % compared to the same
period of 2001. The increase is the result of an increase in fee income for the
first six months of 2002.
There were no securities gains in the six month periods ended June 30, 2002 and
2001.
NONINTEREST EXPENSE. For the first six months of 2002 noninterest expense
increased $ 16,000 or 1.13 % compared to the same period in 2001.
Salaries and employee benefits, the largest component of noninterest expense,
decreased by $ 2,000 or 0.28% for the first six months of 2002 as compared to
the same period in 2001. This decrease was attributed to a decrease in the cost
of benefits provided to employees and was partially offset by an overall
increase in salaries.
Net occupancy expense also decreased by $ 33,000 or 10.54% for the first six
months of 2002 as compared to the same period in 2001 due to a reclassification
of amortization expense on software to other expenses.
INCOME TAXES. The Company recorded provisions for income taxes of $ 242,000
for the six month period ended June 30, 2002 as compared to $ 183,000 for the
same period of 2001.
FINANCIAL CONDITION
LOANS. Loans were $ 38,363,000 at June 30, 2002; up by $ 1,217,000 or 03.28
% from December 31, 2001.
TABLE I - COMPOSITION OF LOAN PORTFOLIO
(In thousands)
June 30, 2002 Dec. 31, 2001
------------- -------------
Commercial, Financial and Agricultural Loans $ 7,503 $ 6,738
Real Estate Construction Loans 1,612 1,690
Real Estate Mortgage Loans 24,153 23,604
Consumer Loans 5,709 5,719
Industrial Revenue Bonds 0 0
------------- -------------
TOTAL LOANS $ 38,977 $ 37,751
Allowance for possible loan losses 614 605
Unearned income 0 0
------------- -------------
$ 38,363 $ 37,146
============= =============
SECURITIES HELD TO MATURITY. Securities held to maturity were $ 1,808,000
at June 30, 2002; down by $ 498,000 or 21.60 % from December 31, 2001.
SECURITIES AVAILABLE FOR SALE. Securities available for sale were $
38,966,000 at June 30, 2002; up by $ 3,917,000 or 11.18 % from December 31,
2001.
TABLE II - INVESTMENT SECURITIES
(In thousands)
A comparison of the book value and estimated market value of investment
securities is as follows:
June 30, 2002
---------------------------------------------
HELD-TO-MATURITY AVAILABLE-FOR-SALE
AMORT MARKET AMORT MARKET
COST VALUE COST VALUE
------- -------- ------- --------
U.S. Treasury $ 1,808 $ 1,828 $ -- $ --
U.S. Government Agencies 0 0 16,910 17,211
Mortgaged-backed securities 0 0 8,727 8,959
State & Political Subdivisions 0 0 12,164 12,612
Equity securities 0 0 184 184
------- -------- ------- --------
TOTAL $ 1,808 $ 1,828 $37,985 $ 38,966
======= ======== ======= ========
Dec. 31, 2001
---------------------------------------------
HELD-TO-MATURITY AVAILABLE-FOR-SALE
AMORT MARKET AMORT MARKET
COST VALUE COST VALUE
------- -------- ------- --------
U.S. Treasury $ 2,306 $ 2,354 $ -- $ --
U.S. Government Agencies 0 0 14,070 14,290
Mortgaged-backed securities 0 0 8,992 9,133
State & Political Subdivisions 0 0 11,258 11,477
Equity Securities 0 0 149 149
-------- -------- -------- --------
TOTAL $ 2,306 $ 2,354 $ 34,469 $ 35,049
======== ======== ======== ========
TABLE III - NONPERFORMING ASSETS
Nonperforming assets include nonaccrual loans, loans which are contractually 90
days past due, restructured loans, and foreclosed assets. Restructured loans are
loans which, due to a deteriorated financial condition of the borrower, have a
below market yield. Interest payments received on nonperforming loans are
applied to reduce principal if there is doubt as to the collectibility of the
principal; otherwise, these receipts are recorded as interest income. Certain
nonperforming loans that are current as to principal and interest payments are
classified as nonperforming because there is a question concerning full
collectibility of both principal and interest.
Nonperforming assets totaled $ 0 at June 30, 2002, a $ 32,000 (100.00 %)
decrease from December 31, 2001. The composition of nonperforming assets are
illustrated below:
June 30, 2002 Dec. 31,2001
------------- -------------
Non-Performing Loans:
(In thousands)
Loans on non-accrual $ -- $ 8
Restructured loans which are not
on non-accrual 0 24
------------- -------------
Total nonperforming loans 0 32
Other real estate and repossessed assets
received in complete or partial
satisfaction of loan obligation 0 0
------------- -------------
TOTAL NONPERFORMING ASSETS $ -- $ 32
============= =============
Loans past due 90 days or more as to
principal or interest, but not on
non-accrual $ 53 $ 16
============= =============
TABLE IV - ANALYSIS OF ALLOWANCE FOR LOAN LOSSES
(In thousands)
June 30, 2002 Dec. 31,2001
------------- -------------
Beginning balance $ 605 $ 579
Charge-offs:
Commercial, financial and agricultural loans 0 (3)
Real estate - construction loans 0 0
Real estate - mortgage loans (4) 0
Installment loans to individuals (8) (15)
------------- -------------
Total charge-offs (12) (18)
------------- -------------
Recoveries:
Commercial, financial and agricultural loans 0 0
Real estate - construction loans 0 0
Real estate - mortgage loans 0 0
Installment loans to individuals 0 2
------------- -------------
Total recoveries 0 2
------------- -------------
Net (charge-offs) recoveries (12) (16)
------------- -------------
Provision charged against income 21 42
------------- -------------
Balance at end of period $ 614 $ 605
============= =============
Ratio of net (charge-offs) recoveries during the period to average loans
outstanding during the period -0.03% -0.05%
============= =============
The present level of the allowance for loan losses is considered adequate to
absorb future potential loan losses. In making this determination, management
considered asset quality, the level of net loan charge-offs, as well as current
economic conditions and market trends.
TABLE V - ALLOCATION OF THE ALLOWANCE FOR LOAN LOSSES
(In thousands)
The allowance for possible loan losses has been allocated according to the
amount deemed to be reasonably necessary to provide for the possibility of
losses being incurred within the following categories of loans.
June 30, 2002 Dec. 31,2001
------------------- -------------------
% OF LOANS % OF LOANS
TO TOTAL TO TOTAL
AMOUNT LOANS AMOUNT LOANS
------ ---------- ------ ----------
Commercial, financial and
agricultural loans $ 132 19% $ 113 18%
Real estate - construction loans 11 4% 8 4%
Real estate - mortgage loans 246 62% 257 63%
Consumer loans 225 15% 227 15%
Industrial revenue bonds 0 0% 0 0%
------ ------
$ 614 100% $ 605 100%
====== ======
DEPOSITS. As of June 30, 2002 total deposits have decreased by $ 2,803,000
or 3.56 % from December 31, 2001. Noninterest bearing deposits decreased by $
194,000 or 0.70 % from December 31, 2001 to June 30, 2002. Interest bearing
deposits decreased by $ 2,609,000 or 5.12 % from December 31, 2001 to June 30,
2002.
CAPITAL. Shareholders' equity totaled $ 13,198,000 at June 30, 2002,
compared to $ 12,265,000 at December 31, 2001. The increase is primarily the
result of year to date net income. Risk-based capital and leverage ratios for
the Company and the bank subsidiary exceed the ratios required for the
designation as a "well-capitalized" institution under regulatory guidelines.
TABLE VI - CAPITAL RATIOS
June 30, 2002 Dec. 31,2001
------------- ------------
AMERICAN BANK & TRUST COMPANY
(Bank subsidiary)
Risk-based capital:
Tier 1 risk-based capital ratio 28.24% 27.16%
Total risk-based capital ratio 29.49% 28.41%
Leverage ratio 13.73% 14.14%
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
In the normal course of business, the bank becomes involved in legal
proceedings. It is the opinion of management that the resulting liability, if
any, for pending litigation is negligible.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
The following exhibits are filed as part of this report:
99.1 Certification pursuant to 18 U.S.C. Section 1350 by the
Company's Principal Executive Officer
99.2 Certification pursuant to 18 U.S.C. Section 1350 by the
Company's Principal Financial Officer
(b) Reports on Form 8-K
NONE
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized to sign on behalf of the registrant.
AMERICAN BANCORP, INC.
----------------------------
(Registrant)
August 9, 2002 /s/ SALVADOR L. DIESI
- ----------------------------- ----------------------------
DATE Salvador L. Diesi
Chairman of the Board / President
August 9, 2002 /s/ RONALD J. LASHUTE
- ----------------------------- ----------------------------
DATE Ronald J. Lashute
Secretary/Treasurer
of the Board
INDEX TO EXHIBITS
Exhibit No. Description
- ----------- -----------
99.1 Certification pursuant to 18 U.S.C. Section 1350 by the
Company's Principal Executive Officer
99.2 Certification pursuant to 18 U.S.C. Section 1350 by the
Company's Principal Financial Officer