NEWS

FOR IMMEDIATE RELEASE

 

American Plus Bank, N.A. Agrees to Acquire Long Beach, California, Branch of United Fidelity Bank, fsb.

 

Los Angeles, CA (November 7, 2024) – American Plus Bank is pleased to announce its entry into a definitive agreement to acquire the Long Beach, California, branch of United Fidelity Bank, fsb, doing business as International City Bank.

 

The terms of the agreement provide for American Plus Bank to acquire all the premises and equipment at the Branch, most of the deposits totaling approximately $107 million as of October 31, 2024, and selected loans totaling approximately $86 million as of October 31, 2024. The transaction is subject to regulatory approval and is expected to be completed by the first quarter of 2025.

 

This strategic acquisition marks a significant milestone for American Plus Bank as it expands its footprint within the Los Angeles Area and enters the thriving Long Beach market.

 

American Plus Bank has built a strong reputation for providing exceptional financial services and personalized customer care. The transition is expected to enhance the range of services available to Long Beach residents and businesses, while also reinforcing American Plus Bank's commitment to community engagement.

 

“We are thrilled to enter the Long Beach market and welcome new customers into the American Plus Bank family,” said John Nerland, President of American Plus Bank. “This acquisition reflects our dedication to providing outstanding banking services and support to communities throughout the Southern California Market.”

 

“We look forward to bringing our innovative solutions and personalized service to the residents and businesses of Long Beach”, said Johnson Yang, Chairman of the Board, American Plus Bank, “We are expecting no disruptions to the Branch Staff and look forward to growing the Branch with the loan and deposit products, services and support that American Plus Bank provides.”

 

The Long Beach branch will operate under the American Plus Bank name and will maintain the same team of experienced professionals who are committed to serving the community. Customers can expect a seamless transition and access to a broader array of banking products and services.

 

As part of their commitment to the Long Beach community, American Plus Bank plans to invest in local initiatives and engage in community outreach efforts that foster economic growth and development.
The transaction is expected to officially close by the first quarter of 2025. Until then, International City Bank will continue to operate as a division of United Fidelity Bank, fsb.

Transaction Details

 

MJC Partners, LLC, served as financial advisor and Loren Hansen, Esq., of Loren P. Hansen, APC, Newport Beach, California, served as legal counsel to American Plus Bank. Piper Sandler, served as financial advisor and John Tanselle, Esq. of Amundsen Davis, Indianapolis, Indiana, served as legal counsel to United Fidelity Bank, fsb.

 

Safe Harbor

 

This press release contains statements that are considered forward-looking statements within the meaning of and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would” and “could” and the negative of these terms and similar words, although some forward-looking statements may be expressed differently. Forward-looking statements also include, but are not limited to, statements regarding plans, objectives, expectations or consequences of announced transactions, known trends and statements about future performance, operations, products and services of American Plus Bank. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the American Plus Bank’s historical experience and present expectations or projections.

 

There can be no assurance that other factors not currently anticipated by American Plus Bank will not materially and adversely affect its business, financial condition and results of operations. Readers are cautioned not to place undue reliance on the American Plus Bank’s forward-looking statements, which reflect management’s analysis and expectations only as of the date of such statements. Forward looking statements speak only as of the date they are made, and American Plus Bank does not intend, and undertake no obligation, to publicly revise or update forward looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities law.

 

For more information about American Plus Bank and the services offered, please visit our website at www.Bankaplus.com.

 

Media Contact:
John Nerland
President & CEO
(626)463-6993

Thanks to American Plus Bank N.A., headquartered in Arcadia, California, we will live in a safer and more secure environment. Through a recent partnership with CRA Partners, American Plus Bank N.A. is funding the Senior Crimestoppers program to protect those who live and work in this community against theft, abuse, and neglect.

 

Since 2007, American Plus Bank has always embraced and care about the San Gabriel Valley communities. The bank is committed to working with CRA Partners to end elderly abuse. As baby boomers enter the senior status, American Plus Bank understands the vulnerabilities they may encounter, thus the bank wants to protect the community by working with the Senior Crimestoppers program to better inform and educate the elders.

 

CRA Partners is a national organization that helps banks fulfill their federally-mandated Community Reinvestment Act (CRA) requirements and earn CRA credit on their exam by running Senior Crimestoppers, a turnkey crime prevention program for low-to moderate-income seniors. Through flexible funding options such as CRA-qualified community development loans, investments and grants, banks help ensure safe living environments for seniors in nursing homes, HUD communities and state Veterans homes.

 

Crime against the elderly is an increasingly important issue that American Plus Bank N.A. is helping resolve through the funding of the Senior Crimestoppers program. Components of the program include personal lockboxes for the residents, continual education and training for facility members, and a toll-free tips line that receives information about wrongdoing and pays cash rewards up to $1,000. Senior Crimestoppers has reduced crime in participating communities by 95%.

 

“Senior Crimestoppers works to enrich the overall quality of residents’ lives. Implementing this program does not mean the facility currently has a crime problem. It means the facility is being proactive about protecting its seniors,” says Terry Rooker, president of Senior Crimestoppers.

 

“When our customers, friends, and neighbors need support, we must open our hearts to listen, protect and care for them. As crime is becoming more sophisticated, we must be one step ahead of the criminals and stop any potential abuses before they arise. We are very honored and glad to have a partner like Senior Crimestoppers to mitigate elderly abuse.” says Louie Couto, President & CEO of American Plus Bank N.A.

 

About American Plus Bank N.A.

 

Founded in 2007, American Plus Bank is an independent, client-oriented community bank headquartered in Arcadia, California. We provide superior financial service and tailored financial products to the individuals and businesses in the San Gabriel Valley and the Los Angeles County. We specialize in high CD depository accounts, business lending, home mortgages, construction loans and commercial real estate lending.

As a community bank, we attribute our success to the community that has been supporting us since our establishment. Our business philosophy is to continue our commitment to the success of our community and supporting our community’s growth and prosperity by being a responsible and contributing financial institution.

 

For more information about American Plus Bank N.A., please visit us at www.bankaplus.com or call (626) 821-9188

 

About Senior Crimestoppers and CRA Partners

 

CRA Partners and Senior Crimestoppers are operated by the Senior Housing Crime Prevention Foundation (SHCPF), headquartered in Memphis, Tennessee. The SHCPF mission is to provide protection and an enhanced quality of life for senior housing residents through meaningful turnkey CRA compliance for community-focused banks.

 

Funded exclusively by the banking industry and endorsed by the Independent Community Bankers of America and bankers associations in 43 states, the Foundation has developed a low-risk, profitable solution — CRA Partners — for banks of all sizes to earn meaningful CRA credit through the operation of the nationally-acclaimed Senior Crimestoppers program. The Senior Crimestoppers program operates in 47 states and protects more than 100,000 residents.

 

In addition to earning CRA credit on the lending and investment tests through CRA Partner’s flexible funding options, the company’s Preventing Elder Financial Abuse video toolkit gives banks the opportunity to earn service test credit when presenting the video to low income audiences. The video, which aims to educate viewers on how to spot and prevent elder financial exploitation, has been used by many banks to become a community leader in prevention education.

 

For more information about Senior Crimestoppers visit www.SeniorCrimestoppers.com or call (800) 529-9096. For information on CRA Partners or the Preventing Elder Financial Abuse Video Toolkit, visit www.SHCPFoundation.org or call (877) 232-0859.