AMBZ American Business Bank

Daniel Lykken Joins American Business Bank as Regional Executive Vice President of the San Fernando Valley Office

() today proudly welcomes Daniel Lykken to the Bank where he will serve as Regional Executive Vice President of the San Fernando Valley Regional office. Lykken will fill this position previously held by Jeffrey Munson, who was recently promoted to Executive Vice President, Chief Credit Officer for the Bank.

Prior to joining ABB, Lykken worked at U.S. Bank as a Senior Vice President, Group Manager of the North Los Angeles Regional Market for 14 years. He has 36 years of banking experience with various financial institutions.

“We are excited to have Dan aboard and look forward to the contribution he will bring to our San Fernando Valley office. His addition is promising as he brings immense experience and knowledge in managing relationship officers for middle-market businesses,” said Philip Feghali, President of ABB.

“This region is a market anticipated for growth, and our bankers are energized to continue efforts to partner with the best businesses in the San Fernando Valley,” Feghali added.

Lykken and the Valley regional team are experienced business bankers who understand the local market with a strong focus on partnering with small to middle-market businesses to meet their financial needs.

“I’m thrilled to join such a strong bank and have the opportunity to work with a solid team who values and obtains genuine banking relationships with business owners in the San Fernando Valley,” Lykken said.

ABOUT AMERICAN BUSINESS BANK

American Business Bank, headquartered in downtown Los Angeles, offers a wide range of financial services to the business marketplace. Clients include wholesalers, manufacturers, service businesses, professionals, and non-profits. American Business Bank has seven Loan Production Offices in strategic locations including: North Orange County in Anaheim, Orange County in Irvine, South Bay in Torrance, San Fernando Valley in Woodland Hills, Riverside County in Corona, Inland Empire in Ontario and LA Coastal in Long Beach.

EN
22/06/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on American Business Bank

 PRESS RELEASE

American Business Bank Reports Second Quarter Earnings

LOS ANGELES--(BUSINESS WIRE)-- () today reported net income of $9.5 million or $1.02 per fully diluted share for the quarter ended June 30, 2024 compared to $10.5 million or $1.13 per fully diluted share for the quarter ended March 31, 2024, and $9.3 million or $1.01 per fully diluted share for the quarter ending June 30, 2023, representing a decline of 9% and an increase of 2%, respectively. Net income for the first half of 2024 was $20.0 million or $2.15 per fully diluted share, a decrease of $2.4 million or 11%, from the $22.4 million net income or $2.43 per fully diluted share for the f...

 PRESS RELEASE

American Business Bank Reports First Quarter Earnings

LOS ANGELES--(BUSINESS WIRE)-- () today reported net income of $10.5 million or $1.13 per fully diluted share for the quarter ended March 31, 2024 compared to $11.4 million or $1.23 per fully diluted share for the quarter ended December 31, 2023, and $13.1 million or $1.42 per fully diluted share for the quarter ending March 31, 2023, representing declines of 8% and 20%, respectively. The reduction in net income is primarily due to reduced net interest income. “We remain focused on providing high touch community banking services to our business clients with a conservative risk approach. At ...

 PRESS RELEASE

American Business Bank Reports Fourth Quarter Earnings

LOS ANGELES--(BUSINESS WIRE)-- () today reported net income of $11.4 million or $1.23 per fully diluted share for the quarter ended December 31, 2023 compared to $10.2 million or $1.10 per fully diluted share for the quarter ended September 30, 2023, and $14.0 million or $1.51 per fully diluted share for the quarter ending December 31, 2022, representing an increase of 11% and a decline of 19%, respectively. This decline is primarily the result of the increase in the cost of deposits exceeding the increase in interest earned on assets. For the year ending December 31, 2023, net income was $...

 PRESS RELEASE

American Business Bank Reports Third Quarter Earnings

LOS ANGELES--(BUSINESS WIRE)-- () today reported net income of $10.2 million or $1.10 per fully diluted share for the quarter ended September 30, 2023 compared to $9.3 million or $1.01 per fully diluted share for the quarter ended June 30, 2023, and $13.3 million or $1.44 per fully diluted share for the quarter ending September 30, 2022, representing an increase of 9% and a decline of 23%, respectively. This decline is a result of an increase in the cost of deposits and higher average borrowings. For the third quarter of 2023, net income associated with the PPP program totaled $13 thousand or...

 PRESS RELEASE

American Business Bank Reports Second Quarter Earnings

LOS ANGELES--(BUSINESS WIRE)-- () today reported net income of $9.3 million or $1.01 per fully diluted share for the quarter ended June 30, 2023 compared to $13.1 million or $1.42 per fully diluted share for the quarter ended March 31, 2023, and $11.4 million or $1.24 per fully diluted share for the quarter ending June 30, 2022, representing declines of 29% and 18%, respectively. The second quarter of 2022 included net income associated with the PPP program of $1.2 million or $0.14 per fully diluted share. Net income for the first half of 2023 was $22.4 million or $2.43 per fully diluted sh...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch