SCHAUMBURG, Ill., Aug. 4 /PRNewswire/ -- American Chartered Bank (ACB),
one of Chicagoland's largest independently owned commercial banks, today
reported that it has surpassed $500 million in total assets.
"We believe reaching the $500 million level after being in business only
12 years reflects positively on the management team we have assembled at
American Chartered and our dedication to financial stewardship," said Robert
Riter, American Chartered's Chief Executive Officer.
"American Chartered's mission is the same as it was when it first opened
its doors in 1987," Riter added, "to be the best bank in the markets we serve
in terms of quality of service and the economic value provided to customers."
Riter noted that all asset growth has been "organic" as American Chartered
has not opted to "buy customers" via acquisitions. This strategy of
internally generated growth also has resulted in a 37.6% growth in total
assets over the past 12 months. In addition, ACB's return on assets reached
1.17% for the second quarter while return on equity at the holding company
level rose to 24.6%.
About American Chartered Bank
Founded in 1987, American Chartered Bank is an independently-owned,
full-service commercial bank servicing privately owned small and medium-sized
businesses and individual customers in the Greater Chicago area. American
Chartered Bank is headquartered in Schaumburg with branch locations in
Palatine, Lake Zurich, Mount Prospect and Bartlett.
SOURCE American Chartered Bank
 back to top
CONTACT:
Robert L. Riter of American Chartered Bank,
847-517-2240; or Jerry Murray, Vice President, 312-640-6740, or
General Info., Scott Ablin, 312-274-2274, both of The Financial
Relations Board
|
