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American Bank Introduces ACH Direct For Online Customers
ALLENTOWN, Pa.--(BUSINESS WIRE)--July 25, 2002--American Bank (Nasdaq:AMBK - News), serving the Lehigh Valley community in eastern Pennsylvania and recognized as a leading provider of Internet banking and financial services nationwide, today announced the addition of ACH Direct, American Bank's "checkless transfer" service available to personal deposit customers with online account access through the Bank's web site,

ACH Direct will allow customers to transfer funds from an account at another financial institution to American Bank quickly and conveniently.

Personal deposit customers who have a checking, savings or money market account at American Bank will be able to utilize the ACH Direct service free of charge. Upon completing their registration to use ACH Direct, customers will soon realize the advantages of using the service, including ease and convenience of transferring money online and eliminating costs associated with mailing deposits to the bank.

President and CEO Mark Jaindl stated, "The introduction of ACH Direct helps fulfill our goal of providing our customers with a full range of products and services that allows them to bank completely online. ACH Direct gives our customers the convenience of transferring funds from another financial institution to American Bank with just a few clicks of a mouse."

Jaindl continued, "Implementing services such as ACH Direct will demonstrate our commitment to offering services that will eliminate costs and solidify our strong presence in the area of Internet banking."

About American Bank

American Bank offers a complete selection of banking services that includes checking, money market, savings, certificates of deposit, consumer and commercial loans, free personal online bill payment, credit cards and VISA debit cards. delivers a full range of real-time Internet banking, insurance and discount brokerage services, while consistently offering some of the best loan and deposit rates in the United States.

American Bank has been recognized as one of the top Internet banks in the country by Gomez Advisors, Inc and has received the® Top Tier award for consistently offering annual percentage yields (APYs) that were among the highest reported. American Bank is FDIC insured.

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