American Business Bank Ranked Top 10 in US Banks in Inaugural Deposits Ranking With Assets Between $3 Billion and $10 Billion for 2024

LOS ANGELES--(BUSINESS WIRE)-- AMERICAN BUSINESS BANK (OTCQX: AMBZ) was ranked in S&P Global Market Intelligence’s inaugural deposit rankings of institutions with assets between $3 billion and $10 billion as of September 30, 2024. According to the listing, ABB is ranked 9^th of the top 225 banks across the country for 2024.

“We are pleased to be recognized in the S&P ranking for 2024. American Business Bank has been built on strong, closely held small to middle-market operating companies which bolsters our fortress deposit franchise. This accomplishment is a direct result of our loyal client relationships and talented bankers,” said Leon Blankstein, Chief Executive Officer and Director of ABB.

ABB, reported $4.04 billion in assets, 1.33% cost of deposits, nonperforming assets and loans 90 days or more past due of 0.18% of total assets, and total deposits increased $147 million or 4.2% for year-end of 2024.

According to the listing, the rankings are calculated based on eight metrics, with noninterest-bearing deposit concentration receiving the highest weighting since those funds are the most valuable. Those deposits are difficult to attract and have come under great pressure since the Federal Reserve began raising short term rates in early 2022. Since year-end 2021, noninterest-bearing deposits across the banking industry have dropped nearly 30% through the end of the third quarter of 2024, while interest-bearing deposits have grown close to 8%. The rankings also include a new metric to capture the cost of operating a deposit franchise beyond interest expense.

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI), the world's foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical business factors. S&P Global has been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years.

ABOUT AMERICAN BUSINESS BANK

American Business Bank, headquartered in downtown Los Angeles, offers a wide range of financial services to the business marketplace. Clients include wholesalers, manufacturers, service businesses, professionals and non-profits. American Business Bank has eight Loan Production 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, LA Coastal in Long Beach and San Diego.

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Karen Schoenbaum

EVP/CFO

(213) 430-4000

www.americanbb.bank

Source: American Business Bank