SAN LUIS OBISPO, Calif., June 10 /PRNewswire-FirstCall/ -- American Perspective Bank (OTC Bulletin Board: APBA) (the "Bank") today announced that it has completed the change in its name from American Principle Bank. The Bank's shareholders approved an amendment to the Bank's Articles of Incorporation to adopt the revised name at the May 25, 2010 Annual Meeting. The Bank recently completed the associated legal steps and has commenced operating as American Perspective Bank.
The Bank remains the same company, with no changes in ownership, management, directors, or form of organization. The Bank will continue to utilize the same phone numbers and mailing addresses. The new Internet site is www.AmericanPerspectiveBank.com and employee email addresses have been changed to: Firstname.Lastname@AmericanPerspectiveBank.com. Access to the prior Internet site address (www.AmericanPrincipleBank.com) will be automatically forwarded to the new address. In addition, messages sent to the prior employee email addresses will automatically be forwarded to the new email addresses. In conjunction with the new Internet address, the Bank has introduced an enhanced web site with additional information and features.
The change in the Bank's name will not impact client accounts. Account numbers will remain the same. Existing debit cards and checks will continue to be processed normally, and will automatically be converted to the new Bank name upon reorder. Clients do not need to take any action as a result of the name change.
The Bank is not reissuing stock certificates in conjunction with the name change. The existing stock certificates remain valid and will be honored by the Bank's transfer agent, Registrar and Transfer Company. The Bank encourages shareholders with paper stock certificates to deposit them into brokerage accounts and thereby convert them to electronic format. This will eliminate the risk of loss of the paper stock certificates and also automatically convert the shares to the new name.
Commenting on the name change, Thomas J. Beene, the Bank's President and Chief Executive Officer, stated: "This is a change in legal name only, with no other change to the Bank. We are excited about adopting the American Perspective Bank name, as it better conveys our unique perspective on building long lasting client relationships and delivering highly customized financial solutions. The timing for adopting the new name integrates well with our upcoming opening of a branch office in Santa Maria. The Bank will open that facility under the American Perspective Bank name in July."
Thomas R. Strait, Bank's Executive Vice President, added: "We have launched an advertising campaign that introduces the new name and which explains that the Bank will continue to follow its five founding principles of integrity, commitment, expertise, communication, and service. Our logos will continue to utilize five stars to represent these core values." Mr. Strait then added: "Clients or shareholders with questions about the name change are welcome to contact any of the Bank's officers. We are pleased to be of assistance."
The Bank's target markets are commercial enterprises, professionals, real estate investors, family business entities, and residents in San Luis Obispo County and northern Santa Barbara County. The Bank is located at 4051 Broad Street, Suite 140, San Luis Obispo, California, near the intersection of Broad Street (Highway 227) and Tank Farm Road. The upcoming Santa Maria branch is located at 2646 Santa Maria Way, Suite 101, Santa Maria, California, near the intersection of Santa Maria Way and Broadway. The Bank's deposits are insured by the FDIC up to applicable legal limits, and the Bank is a participant in the Federal Deposit Insurance Corporation's Transaction Account Guarantee Program. Under that Program, all of the Bank's checking accounts receive unlimited FDIC insurance that is in addition to and separate from the base FDIC insurance. The FDIC has currently scheduled the Program to continue through December 31, 2010.
Certain of the statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intend," "estimate," "target," "plans," "may increase," "may fluctuate," "may result in," "are projected," and similar expressions. The Bank's actual results may differ materially from those included in the forward-looking statements. These forward-looking statements involve risks and uncertainties including, but not limited to, the economic, business, and real estate market conditions in the Bank's market areas, the interest rate environment, competition, regulatory and legislative actions, the possibility that the Bank will not be successful in achieving its strategic objectives, the performance and contributions of employees and directors, and other factors. The Bank does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.
This news release is available at the www.americanperspectivebank.com Internet site for no charge.
SOURCE American Perspective Bank