TOWSON, Md. -- AmericasBank, the wholly owned subsidiary of AmericasBank Corp. (OTCBB:AMBB), today announced the acquisition of uvm Mortgage Marketing, Inc., a Towson based mortgage lender. AmericasBank will purchase certain assets and assume certain liabilities in exchange for cash and AmericasBank
"The success of our bank is deeply rooted in the integrity and the capacity of our staff and we are delighted to have Jon Zemarel, Ben Stauffer and Linda Henritz join AmericasBank as part of this transaction. The addition of this new talent and another facility in what we believe is a prime location should more than triple the mortgage banking capacity of AmericasBank." said Mark H. Anders, President and CEO of AmericasBank. AmericasBank has recently expanded its mortgage lending products to include the acquisition, construction and renovation of residential properties.
Jon A Zemarel, the President of uvm Mortgage Marketing added, "We see a huge opportunity by being associated with a local bank where flexibility and responsiveness often means the difference between owning the home of your dreams and being the next highest bidder."
About uvm Mortgage Marketing, Inc.
uvm Mortgage Marketing has operated as a mortgage broker since 1995. In 2003, the company originated nearly $60 million in mortgage loans.
About AmericasBank
A Maryland-chartered Commercial Bank headquartered in Towson, Maryland, AmericasBank is dedicated to contributing to the growth and prosperity of the communities it serves, with a special focus on serving the needs of the business community and promoting home ownership.
The statements in this press release that are not historical facts constitute "forward-looking statements" as defined by Federal Securities laws. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the possible loss of key personnel; regulatory restrictions under which AmericasBank Corp. and AmericasBank are operating; changes in interest rates, deposit flows and loan demand; as well as changes in economic, competitive, governmental, regulatory, technological and other factors which may affect AmericasBank Corp. or AmericasBank specifically or the banking industry generally. Forward-looking statements speak only as of the date they are made. AmericasBank Corp. will not update forward-looking statements to reflect factual assumptions, circumstances or events that have changed after a forward-looking statement was made.
For further information, please refer to AmericasBank Corp.'s periodic reports on Form 10KSB and 10-QSB filed with the U.S. Securities and Exchange Commission and available at their web site www.sec.gov.