American Bank Q3 net income jumps 32% to $4.34 million; net interest income climbs 21% to $8.83 million

• American Bank posted Q3 net income of $4.34 million, up 32% from the year-ago quarter; diluted EPS rose to $0.68.
• Net interest income climbed 21% to $8.83 million, while net interest margin widened 29 basis points to 3.20%.
• Provision for credit losses was $217,000, versus an $11,000 allowance release a year earlier; non-accruing loans held at 0%.
• Non-interest income fell 54% to $579,000, and non-interest expense dropped 17% to $3.7 million.
• Total assets rose 12% to $1.16 billion, and net loans increased 9%; Mark Jaindl cited record quarterly net income and continued loan growth.

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