American Plus Bank Completes Acquisition of United Fidelity Bank, fsb Doing Business as International City Bank in Long Beach

American Plus Bank announced today the successful completion of its acquisition of the Long Beach branch of United Fidelity Bank, fsb doing business as International City Bank. This strategic transaction marks a significant milestone in American Plus Bank’s ongoing growth and commitment to expanding its footprint in the Southern California region.

The acquisition includes the transfer of approximately $74 million in loans and $117 million in deposits, enhancing American Plus Bank’s portfolio and consolidating its presence in the Long Beach community. Customers of International City Bank will now benefit from American Plus Bank’s comprehensive banking solutions, innovative digital services, and dedicated customer support.

"We are pleased to welcome the customers and employees of International City Bank into our American Plus Bank family," said John Nerland, President and CEO of American Plus Bank. "This acquisition strengthens our position in the Long Beach market and allows us to better serve the diverse needs of local residents and businesses."

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 our 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 was completed in accordance with all regulatory approvals and was an important step in American Plus Bank’s strategic growth plan aimed at providing exceptional banking experiences to communities across Southern California.

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.

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