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Americas United Bank Announces the Departure of President and Chief Executive Officer Gilbert J. Dalmau

^{Published on 2010-10-14 13:30:40 - Market Wire}
 

GLENDALE, Calif.--([ BUSINESS WIRE ])--Americas United Bank (OTCBB: AUNB) announced today that the Board of Directors and President and Chief Executive Officer Gilbert J. Dalmau have mutually agreed to a separation. The Board wishes Mr. Dalmau all the best in his future endeavors and thanks him for his service. Mr. Dalmau formally separated on October 1, 2010.

"We look forward to the future success of the bank as we work through the challenging economic environment. We would like our customers to know that the Banka™s capital ratios continue to be very strong and in excess of the regulatory defined 'well capitalized' levels."

The Board of Directors is please to announce the appointment of Manuel J. Remn as the interim President and Chief Executive Officer. Mr. Remn, who serves as Chairman of the Board of Americas United Bank, will assume the functions of the banka™s President and Chief Executive Officer until a permanent replacement is named. Mr. Remn has served in his current role as Chairman of the Board since the formation of the bank in November 2006. Mr. Remn has over 40 years of banking experience in various roles with major banks in the greater Los Angeles area. Mr. Remn has been actively involved in working with the banka™s founders and significant customers since inception of the bank and has been integral in the marketing of the bank to the community.

Mr. Remn is leading the expansion of the bank as it is in the process of opening a second branch in Downey, California, located adjacent to the new Portoa™s Bakery at 8255 Firestone Blvd. It is anticipated that the branch will be open for business sometime in the late 4^th quarter 2010.

Mr. Remn stated, aThe bank remains poised to service its customersa™ banking needs. Products such as lines of credit, real estate loans, SBA loans, consumer loans, merchant credit card processing, international trade solutions, online cash management, treasury management, lockbox services, remote deposit capture, corporate credit cards, etc., are available for the consumer or business. Our customer service representatives are eager to help with any of our customersa™ banking needs.a

Mr. Remn continued, aWe look forward to the future success of the bank as we work through the challenging economic environment. We would like our customers to know that the Banka™s capital ratios continue to be very strong and in excess of the regulatory defined 'well capitalized' levels.a

Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank's performance and implementation of its business plans, loan performance, interest rates, and regulatory matters.