American Bank Holdings, Inc. is the holding company for American Bank (the Bank), a federally chartered savings bank. The Bank's corporate headquarters is located in Silver Spring, Maryland and the Bank has five full-service offices located at 1700 Rockville Pike, Rockville, Maryland, 5600 Connecticut Avenue, N.W., Washington, D.C., in the SuperFresh market at 12028 Cherry Hill Road, Silver Spring, Maryland, and in the SuperFresh market at 3301 North Ridge Road, Ellicott City, Maryland, and a loan production/leasing office in Charlotte, North Carolina. The Bank's primary business activity is attracting deposits from the general public and using the proceeds for investments and loan originations. The Bank operates a loan production/leasing office in Charlotte, North Carolina. Deposits in the Bank are insured to applicable limits by the Federal Deposit Insurance Corporation. American Bank provides its services in, and derives its earnings primarily from the D.C. metropolitan area, Montgomery County, Maryland and the District of Columbia. American Bank also conducts lending and leasing activities in the Charlotte and Raleigh-Durham North Carolina market areas. At December 31, 2005, the Company had deposits of $205.0 million and originated loans of $292.4 million. Lending Activities American's Bank's loan portfolio consists primarily of one- to four-family residential mortgage loans and residential construction loans. A substantial amount of the Bank's loans receivable are mortgage loans secured by residential and commercial real estate properties located in the State of Maryland, Commonwealth of Virginia, State of North Carolina and the District of Columbia. Loans are extended only after evaluation by management of customers' creditworthiness and other relevant factors on a case-by-case basis. The Bank generally does not lend more than 90% of the appraised value of a property and requires private mortgage insurance on residential mortgages with loan-to-value ratios in excess of 80%. In addition, the Bank generally obtains personal guarantees of repayment from borrowers and/or others for multi-family residential, commercial and construction loans and disburses the proceeds of construction and similar loans only as work progresses on the related projects. The Bank generally does not lend more than 80% of the purchase price or appraised value on marine loans. At December 31, 2005, the Bank had outstanding commitments to originate a multi-family loan of $1,975,000 and non-mortgage loans of $1,770,000. Deposits and Sources of Funds American Bank's lending and investing activities are predominantly funded by savings deposits, and interest and principal repayments on loans, and mortgage-backed securities. The Bank offers a variety of deposit accounts having a range of interest rates and terms. The Bank's deposit accounts consist of passbook accounts, negotiable order of withdrawal (NOW) (checking) accounts, money market deposit accounts and certificates of deposit. In addition to core deposits, the Company regularly utilizes wholesale funding sources, such as brokered deposits, which had a $29.2 million balance, at December 31, 2005, and federal home loan bank (FHLB) advances. The Bank did not have any other borrowed money during the year ended December 31, 2005. Investment Activities The Bank, as a federally chartered savings association, has authority to invest in various types of liquid assets, including United States Treasury obligations, securities of federal agencies, certificates of deposit of federally insured banks and savings associations, bankers' acceptances and federal funds. Subject to various restrictions, the Bank also may invest a portion of its assets in commercial paper, corporate debt securities, and mutual funds whose assets conform to the investments that a federally chartered savings association is otherwise authorized to make directly. The Bank also is required to maintain a minimum level of liquid assets, which is determined quarterly based on the amount of the Bank's short-term obligati

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