U. S. Securities and Exchange Commission
Washington, D.C. 20549
Form 10-QSB
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended June 30,_1995
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
For the transition period from __________ to __________
Commission file number 0-10241
AMERICAN_BANCSHARES_OF_HOUMA,_INC.
(Exact name of registrant as specified in its charter)
LOUISIANA 72-0695017
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
801_Barrow_Street,_Houma,_Louisiana 70360
(Address of principal executive offices)
Issuer's telephone number: (504)_872-1434
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
Yes _X_. No ___.
The number of shares of common stock, $3.00 par value,
outstanding as of June 30, 1995, was 229,564.
Transitional Small Business Disclosure Format (check one): Yes ___.
No _X_.
TABLE OF CONTENTS
PART I--FINANCIAL INFORMATION
Item 1. Financial Statements.
Consolidated Statements of Condition -
June 30, 1995 and December 31, 1994.................................
Consolidated Statements of Income -
Periods Ended June 30, 1995 and 1994................................
Consolidated Statements of Changes in Stockholders' Equity -
Periods Ended June 30, 1995 and 1994................................
Consolidated Statements of Cash Flows -
Periods Ended June 30, 1995 and 1994................................
Notes to Consolidated Financial Statements............................
Item 2. Management's Discussion and Analysis...........................
PART II--OTHER INFORMATION
Item 1. Legal Proceedings..............................................
Item 6. Exhibits and Reports on Form 8-K...............................
SIGNATURES................................................................
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Condition
June 30, 1995 and December 31, 1994
Thousands of Dollars
Unaudited
<CAPTION>
June 30, Dec. 31,
__1995__ __1994__
ASSETS
<S> <C> <C>
Cash and due from banks.......................................... $ 5,404 $ 4,667
Federal funds sold............................................... __2,600 __5,700
Total cash and cash equivalents....................... 8,004 10,367
Investment securities:
Available-for-sale securities at fair value (amortized cost
of $16,036 and $9,885 in 1995 and 1994, respectively)........ 16,166 9,608
Held-to-maturity securities at amortized cost (fair value of
$7,167 and $8,042 in 1995 and 1994, respectively)............ __7,163 __8,380
Total investment securities........................... 23,329 17,988
Loans............................................................ 50,864 51,652
Less: Unearned income......................................... (158) (161)
Allowance for loan losses............................... _(1,037) _(1,133)
Loans, net............................................ 49,669 50,358
Premises and equipment........................................... 2,040 1,970
Real estate acquired by foreclosure.............................. 323 335
Other assets..................................................... __1,258 __1,329
Total assets........................................ $ 84,623 $ 82,347
======= =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits (Note 2):
Noninterest-bearing............................................ $ 15,836 $ 16,372
Interest-bearing............................................... _58,414 _57,889
Total deposits........................................ 74,250 74,261
Federal funds purchased and securities sold under
repurchase agreements.......................................... 393 168
Other liabilities................................................ __1,825 ____394
Total liabilities..................................... _76,468 _74,823
Stockholders' equity:
Common stock ($3.00 par value; 1,000,000 shares
authorized; 258,737 shares issued)........................... 776 776
Paid-in capital................................................ 4,263 4,263
Retained earnings.............................................. 3,964 3,602
Net unrealized gains (losses) on available-for-sale securities. 86 (183)
Treasury stock (Cost of 29,173 shares)......................... ___(934) __(934)
Total stockholders' equity............................ __8,155 __7,524
Total liabilities and stockholders' equity.......... $ 84,623 $ 82,347
======= =======
See notes to consolidated financial statements.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Income
Periods Ended June 30, 1995 and 1994
Thousands of Dollars Except for Per Share Data
Unaudited
<CAPTION>
Three_Months_Ended _Six_Months_Ended_
June 30, June 30, June 30, June 30,
Interest income: __1995__ __1994__ __1995__ __1994__
<S> <C> <C> <C> <C>
Interest and fees on loans.............. $ 1,121 $ 923 $ 2,228 $ 1,765
Taxable securities income............... 341 369 648 754
Nontaxable securities income............ 16 10 33 13
Interest on federal funds sold.......... _____44 _____25 _____80 _____48
Total interest income............... __1,522 __1,327 __2,989 __2,580
Interest expense:
Interest on deposits (Note 2)........... 604 406 1,170 787
Interest on federal funds purchased and
securities sold under repurchase
agreements............................ ______3 ______3 ______5 ______4
Total interest expense.............. ____607 ____409 __1,175 ____791
Net interest income..................... 915 918 1,814 1,789
Provisions for loan losses.............. ____--- ____--- ____--- ______5
Net interest income after provisions
for loan losses....................... 915 918 1,814 1,784
Noninterest income, excluding investment
securities gains and losses (Note 3).. 314 337 613 675
Investment securities gains (losses).... --- --- (1) ---
Noninterest expense (Note 4)............ ____894 ____947 __1,775 __1,694
Earnings before income taxes............ 335 308 651 765
Provision for income taxes.............. ____108 _____95 ____197 ____247
Net earnings............................ $ 227 $ 213 $ 454 $ 518
======= ======= ======= =======
PER SHARE DATA:
Net earnings............................ $ 0.99 $ 0.93 $ 1.98 $ 2.26
======= ======= ======= =======
Average common shares outstanding....... 229,564 229,564 229,564 229,564
======= ======= ======= =======
See notes to consolidated financial statements.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Changes in Stockholders' Equity
Six Months Ended June 30, 1995 and 1994
Thousands of Dollars
Unaudited
<CAPTION>
Net unreal-
ized Gains
(Losses) on
Available-
Common Paid-in Retained Treasury for-Sale
Stock_ Capital Earnings _Stock__ Securities_ Total
<S> <C> <C> <C> <C> <C> <C>
Balance at December 31, 1993.. $ 776 4,263 2,818 (934) 292 7,215
Net earnings.................. --- --- 518 --- --- 518
Change in net unrealized gains
or losses on available-for-
sale securities............. __--- __--- __--- __--- _(334) _(334)
Balance at June 30, 1994...... $ 776 4,263 3,336 (934) (42) 7,399
===== ===== ===== ===== ===== =====
Balance at December 31, 1994.. $ 776 4,263 3,602 (934) (183) 7,524
Net earnings.................. --- --- 454 --- --- 454
Dividends ($0.40 per share)... (92) (92)
Change in net unrealized gains
or losses on available-for-
sale securities............. __--- __--- __--- __--- __269 __269
Balance at June 30, 1995...... $ 776 4,263 3,964 (934) 86 8,155
===== ===== ===== ===== ===== =====
See notes to consolidated financial statements.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Cash Flows
Six Months Ended June 30, 1995 and 1994
Thousands of Dollars
Unaudited
<CAPTION>
Six_Months_Ended__
June 30, June 30,
__1995__ __1994__
<S> <C> <C>
Cash flows from operating activities:
Interest received....................................... $ 3,045 $ 2,575
Fees and commissions received........................... 669 749
Interest paid........................................... (1,081) (773)
Other expenses paid..................................... (1,672) (1,581)
Income taxes paid....................................... __(199) ___(27)
Net cash provided by operating activities............. ___762 ___943
Cash flows from investing activities:
Proceeds from sales of available-for-sale securities.... 999 ---
Proceeds from paydowns and maturities
of available-for-sale securities...................... 1,074 2,691
Purchases of available-for-sale securities.............. (7,052) (1,530)
Proceeds from paydowns and maturities
of held-to-maturity securities........................ 1,203 644
Purchases of held-to-maturity securities................ --- (2,167)
Loan originations, net of repayments.................... 594 (7,428)
Capital expenditures.................................... (164) (194)
Proceeds from sales of foreclosed assets................ 61 40
Net decrease (increase) in other assets................. ___(51) ____(4)
Net cash provided by (used in) investment activities.. (3,336) (7,948)
Cash flows from financing activities:
Net increase (decrease) in deposits..................... (11) 4,419
Net increase (decrease) in securities sold
under repurchase agreements........................... 225 289
Net increase (decrease) in other liabilities............ ____(3) _____4
Net cash provided by (used in) financing activities... ___211 _4,712
Net increase (decrease) in cash and cash equivalents...... (2,363) (2,293)
Cash and cash equivalents at beginning of period.......... 10,367 _7,034
Cash and cash equivalents at end of period................ $ 8,004 $ 4,741
====== ======
(continued)
See notes to consolidated financial statements.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Cash Flows
Six Months Ended June 30, 1995 and 1994
Thousands of Dollars
Unaudited
<CAPTION>
Six_Months_Ended__
June 30, June 30,
__1995__ __1994__
<S> <C> <C>
Reconciliation of net income to net cash provided
by operating activities:
Net earnings.............................................. $ ___454 $ ___518
Adjustments to reconcile net income to
net cash provided by operating activities:
Provisions for loan losses............................ --- 5
Investment securities losses.......................... 1 ---
Depreciation and amortization of premises
and equipment....................................... 93 77
Losses (gains) on disposals of premises and equipment. 1 18
Write-downs of foreclosed assets...................... 22 46
Losses (gains) on sales of foreclosed assets.......... 4 (61)
Decrease (increase) in interest receivable............ 14 (68)
Amortization of goodwill.............................. 7 7
Amortization of premiums and (accretion of discounts)
on investment securities............................ 43 38
Decrease (increase) in prepaid expenses............... (15) 38
Increase (decrease) in accrued expenses............... 37 53
Increase (decrease) in interest payable............... 95 18
Increase (decrease) in current income taxes payable... (4) (26)
Decrease (increase) in net deferred tax asset......... 2 246
Net increase (decrease) in deferred loan fees
and other unearned income........................... _____8 ____34
Total adjustments................................. ___308 ___425
Net cash provided by operating activities................. $ 762 $ 943
====== ======
Supplemental schedule of noncash investing activities:
Assets acquired through foreclosure of loans............ $ 179 $ 36
====== ======
Loans made to finance sales of foreclosed assets........ $ 82 $ 73
====== ======
See notes to consolidated financial statements.
</TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Notes to Consolidated Financial Statements
June 30, 1995 and 1994
Unaudited
(1) Summary of Significant Accounting Policies
No significant changes in accounting policies have occurred since the
filing of the Form 10-KSB report on March 30, 1995, for the fiscal
year ended December 31, 1994, other than the adoption of Statement of
Financial Accounting Standards No.'s 114 and 118 as previously
disclosed in the Form 10-QSB for the period ended March 31, 1995.
Certain reclassifications have been made to conform to the 1995
presentation of financial information.
(2) Deposits
Included in interest-bearing deposits are certificates of deposit of
$100,000 or more, which totaled $9,086,314 at June 30, 1995, and
$7,411,193 at December 31, 1994.
Interest expense on certificates of deposit of $100,000 or more
totaled $221,459 and $93,649 for the six months ended June 30, 1995
and 1994, respectively.
<TABLE>
(3) Noninterest Income
Details of noninterest income, excluding investment securities gains and losses, are as
follows:
<CAPTION>
Six_Months_Ended_June_30,__
__1995__ __1994__
(Thousands of Dollars)
<S> <C> <C>
Service charges on deposit accounts..... $ 462 $ 419
Secondary market loan origination fees.. 41 110
Other loan fee income................... 13 55
Other................................... ______97 ______91
$ 613 $ 675
======== ========
</TABLE>
<TABLE>
(4) Noninterest Expense
Details of noninterest expense are as follows:
<CAPTION>
Six_Months_Ended_June_30,__
__1995__ __1994__
(Thousands of Dollars)
<S> <C> <C>
Salaries and employee benefits.......... $ 841 $ 869
Net occupancy expense of premises....... 196 210
Equipment expense....................... 123 114
Advertising, marketing and promotion.... 43 27
FDIC and state assessments.............. 88 81
Stationery, printing and supplies....... 63 74
Data processing......................... 66 69
Directors' fees......................... 85 52
Legal and professional fees............. 71 41
Postage................................. 39 35
Telephone expense....................... 34 31
Net foreclosed assets expense (income).. 7 (29)
Other................................... _____119 _____120
$ 1,775 $ 1,694
======== ========
</TABLE>
AMERICAN BANCSHARES OF HOUMA. INC.
Management's Discussion and Analysis
American Bancshares of Houma, Inc. (the Company) is a one-bank holding
company whose primary asset is the 100% ownership of American Bank and
Trust Company of Houma (the Bank) domiciled in Houma, Louisiana.
Overview
The Company earned $454,000 for the six month period ending June 30,
1995, providing a 1.11% return on average assets and an 11.66% return on
average equity. Year-to-date net earnings decreased by $64,000 from the
same period in 1994 due primarily to reduced noninterest income and
increased overhead expenses. After experiencing growth of 13% to 14% for
the year 1994, total assets and deposits remained relatively stable during
the first half of 1995. Included in total assets and other liabilities at
June 30, 1995, are commitments to purchase approximately $1,203,000 in
investment securities.
At June 30, 1995, nonaccrual loans totaled $119,000, restructured
loans totaled $992,000, loans past due 90 days or more totaled $105,000,
and foreclosed assets totaled $378,000. Overall, total nonperforming
assets increased by $125,000 or 8.5% since December 31, 1994, primarily due
to an increase in nonperforming indirect automobile loans. During 1994,
the Bank increased its portfolio of indirect automobile loans significantly
by offering financing through several local dealers. Management monitors
the portfolio closely and has stepped up collection efforts to minimize
delinquencies and potential losses.
Net_Interest_Income
Year-to-date net interest income increased by $25,000 over the same
period in 1994 due to the 8.9% increase in average interest earning assets.
The Bank's year-to-date net interest margin, on a taxable equivalent basis,
decreased to 4.90% from 5.27% due primarily to the increased cost of funds
resulting from higher interest rates and a shift in deposit mix from NOW,
money market and savings accounts to certificates of deposit with higher
interest rates. An increase in income due to higher loan volume more than
offset the decrease in income due to reduced margin.
Detailed analysis of the components of and changes in net interest
income on a taxable equivalent basis is provided in the "Summary of Average
Balance Sheets, Interest, and Interest Rates" and "Comparative Changes in
Interest Income and Expense" tables that follow this discussion.
Allowance_and_Provisions_for_Loan_Losses
No provisions for loan losses were made during the first half of 1995,
as the $1,037,000 allowance (representing 2.0% of the portfolio) is deemed
to be adequate by Bank management. During the first half of 1994,
provisions for loan losses totaled $5,000. The Bank recorded year-to-date
net charge-offs of $96,000 for the first half of 1995 compared to net
recoveries of $37,000 for the same period in 1994.
Noninterest_Income
Year-to-date noninterest income decreased by $62,000 or 9.2% due
primarily to a decrease in secondary market mortgage loan origination fees.
The volume of mortgage loans originated for sale in the secondary market
decreased substantially compared to the first half of 1994 due to higher
mortgage interest rates in 1995. Details of other noninterest income are
provided in note 3 to the consolidated financial statements.
Noninterest_Expense
Year-to-date total overhead expenses increased by $81,000 or 4.8% over
the same period in 1994. Salaries and employee benefits decreased $28,000
or 3.2% due to an $80,000 decrease in retirement plan expense. During the
second quarter of 1994, the Bank contributed approximately $92,000 to its
Employee Stock Ownership Plan. Directors' fees increased by $33,000 due to
an increased fee schedule and additional committee meetings. Legal and
professional fees increased $30,000 primarily due to additional consulting
services and increased loan collection expenses. The Bank recognized net
expenses on foreclosed assets of $7,000 during the first half of 1995
compared to net income of $29,000 for the same period in 1994. Gains
recognized on the sales of certain foreclosed properties during the first
half of 1994 resulted in net gains in that period. Advertising expense
increased by $16,000 in 1995 due to an expanded marketing program, while
stationery and supplies expense decreased by 11,000 due to improved
purchasing practices. Additional information on other expenses is provided
in note 4 to the consolidated financial statements.
Liquidity
The Bank's liquidity ratio, which is a measure of net cash, short-term
and marketable assets as a percent of net deposits and short-term
liabilities, equaled 32.0% at June 30, 1995, compared to 26.7% at December
31, 1994. Management strives to maintain a minimum liquidity ratio of 25%.
Total loans, net of unearned discounts, represented 68.3% of total deposits
at June 30, 1995, compared to 69.3% at December 31, 1994. Federal funds
sold and investments in short-term, high quality U. S. Government and
U. S. Government Agency securities provide a source of ongoing liquidity
for the Bank. The investment portfolio is structured to provide a ladder
of maturities to ensure that funds will be available when needed. Also, a
significant portion of the investment portfolio is classified as available-
for-sale in accordance with Statement of Financial Accounting Standards No.
115. While the Bank has the intent to hold these securities indefinitely,
they are available for disposal and may be sold for liquidity as well as
other reasons. The Bank also has the ability to purchase federal funds
from correspondent banks and to pledge securities for other borrowings if
necessary to satisfy temporary liquidity needs. Management believes that
these factors place the Bank in a sound liquidity position.
Capital_Adequacy_&_Dividends
Regulatory capital guidelines set forth minimum ratios of total
capital to total "risk-weighted" assets of 8.0%, "Tier 1" capital to total
"risk-weighted" assets of 4.0%, and a leverage ratio ("Tier 1" capital to
total assets) of 4%. Because the Company has total consolidated assets of
less than $150 million and meets certain other conditions, the guidelines
are applied on a bank-only basis. For the Bank, "Tier 1" capital consists
of its shareholders' equity, excluding net unrealized market gains or
losses on available-for-sale securities. Total capital consists of "Tier
1" capital plus an allowable portion of the allowance for loan losses. At
June 30, 1995, the Bank's total capital to total "risk-weighted" assets
ratio equaled 17.97%, its "Tier 1" capital to total "risk-weighted" assets
ratio equaled 16.71%, and its leverage ratio equaled 9.28%. In June of
1995, the Company declared dividends totaling $0.40 per share, which
included a $0.25 regular dividend and a $0.15 special dividend. These
dividends were paid in July. In 1994, mid-year dividends totaling $0.25
per share were declared in July and paid in August.
Regulatory_Matters
On February 8, 1994, the Bank entered into a Memorandum of Understanding
(MOU) with the Federal Deposit Insurance Corporation (FDIC) regarding
regulatory compliance issues. The MOU resulted from a compliance
examination of the Bank conducted by the FDIC on October 1, 1993, in which
several violations of federal regulations were noted, primarily record-
keeping and disclosure violations. The MOU requires the bank to improve
its compliance program to insure adequate management supervision, training,
and review procedures to insure compliance with federal record-keeping and
disclosure requirements. The MOU originally required the Bank to make
quarterly progress reports to the FDIC. Based on progress reports made,
the FDIC removed the quarterly reporting requirement on April 17, 1995.
While the MOU must remain in effect until the next compliance examination
of the Bank, management believes it has taken the necessary steps to insure
future compliance.
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Summary of Average Balance Sheets, Interest, and Interest Rates
Six Months Ended June 30, 1995 and 1994
Tax Equivalent Basis, Thousands of Dollars
Unaudited
<CAPTION>
____________________Six_Months_Ended_____________________
_______June_30,_1995_______ _______June_30,_1994_______
Average Average Average Average
ASSETS Balance Interest _Rate__ Balance Interest _Rate__
<S> <C> <C> <C> <C> <C> <C>
INTEREST-EARNING ASSETS:
Loans, net of unearned income* $51,013 ___2,228 8.81% $42,002 ___1,765 8.47%
Investment securities: **
Taxable...................... 20,016 648 6.53 23,255 754 6.54
Nontaxable................... _1,439 ______48 6.73 ___556 ______19 6.89
Total investment securities. 21,455 696 6.54 23,811 773 6.55
Federal funds sold............ _2,732 ______80 5.91 _2,823 ______48 3.43
Total interest-earning assets 75,200 ___3,004 8.06 68,636 ___2,586 7.60
NONINTEREST-EARNING ASSETS AND
ALLOWANCE FOR LOAN LOSSES:
Cash and due from banks....... 4,778 4,492
Bank premises and equipment... 1,987 1,859
Other assets.................. 1,513 1,814
Allowance for loan losses..... (1,099) (1,176)
Total assets................ $82,379 $75,625
====== ======
LIABILITIES_AND
STOCKHOLDERS'_EQUITY
INTEREST-BEARING LIABILITIES:
NOW accounts.................. $10,416 117 2.27 $10,663 104 1.97
Money market accounts......... 7,436 105 2.85 8,356 107 2.58
Savings deposits.............. 9,238 134 2.93 9,780 131 2.70
Time deposits................. 30,921 ____814 5.31 23,369 _____445 3.84
Total interest-bearing
deposits................... 58,011 1,170 4.07 52,168 787 3.04
Short-term borrowings......... ___135 ______5 7.47 ___100 _______4 8.07
Total interest-bearing
liabilities................ 58,146 __1,175 4.08 52,268 _____791 3.05
NONINTEREST-BEARING LIABILITIES
AND STOCKHOLDERS' EQUITY:
Noninterest-bearing deposits.. 15,793 15,596
Other liabilities............. 573 393
Stockholders' equity.......... _7,867 _7,368
Total liabilities and
stockholders' equity....... $82,379 $75,625
====== ======
Net interest earned on total
interest-earning assets...... $75,200 1,829 4.90% $68,636 1,795 5.27%
====== ======= ====== =======
*Nonaccruing loan balances are included in loans for purposes of this analysis.
**Investment securities are shown at amortized cost, with net market gains or losses on
available-for-sale securities included in other assets.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Comparative Changes in Interest Income and Expense
For the Six Months Ended June 30, 1995 and 1994
Tax Equivalent Basis, Thousands of Dollars
Thousands of Dollars
Unaudited
<CAPTION>
1995 Compared to 1994 1994 Compared to 1993
Increase_(Decrease)_Due_To Increase_(Decrease)_Due_To
Change Change Change Change
in in in in
Volume _Rate_ Total Volume _Rate_ Total
<S> <C> <C> <C> <C> <C> <C>
INTEREST_INCOME
Loans........................ $__391 ____72 __463 $__298 __(100) __198
Investment securities:
Taxable..................... (105) (1) (106) (186) (52) (238)
Nontaxable.................. ___29 ___--- ___29 ___16 ____(1) ___15
Total investments.......... (76) (1) (77) (170) (53) (223)
Federal funds sold........... ___(2) ____34 ___32 ___25 _____4 ___29
Total interest income...... __313 ___105 __418 __153 __(149) ____4
INTEREST_EXPENSE
Interest-bearing deposits:
NOW accounts................ (2) 15 13 4 --- 4
Money market accounts....... (12) 10 (2) (16) (2) (18)
Savings deposits............ (8) 11 3 --- (10) (10)
Time deposits............... __169 ___200 __369 ____3 _____6 ____9
Total interest-bearing
deposits.................. 147 236 383 (9) (6) (15)
Short-term borrowings....... ____1 ___--- ____1 ___(1) _____1 ___---
Total interest expense..... __148 ___236 __384 __(10) ____(5) ___(15)
Net interest income........ $ 165 (131) 34 $ 163 (144) 19
===== ====== ===== ===== ====== ======
NOTE: The change in interest due to both volume and rate has been allocated to change due to
volume and change due to rate in proportion to the relationship of the absolute dollar amounts
of change in each.
</TABLE>
PART II - OTHER INFORMATION
Item_1._Legal_Proceedings.
Regarding the suit of Alfred P. Cenac, Jr., et al. previously
disclosed in the 1994 Annual Report on Form 10-KSB filed on March 30, 1995,
the plaintiffs filed an appeal on May 11, 1995, in the United States
District Court. On July 18, 1995, the Court dismissed the plaintiffs'
appeal without prejudice. Bank management and its legal counsel now
consider this case closed.
No other material developments have occurred in the legal proceedings
previously disclosed in the 1994 Annual Report on Form 10-KSB.
Item_6._Exhibits_and_Reports_on_Form_8-K.
During the quarter ended June 30, 1995, no reports on Form 8-K have
been filed.
SIGNATURES
In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
American_Bancshares_of_Houma,_Inc.
(Registrant)
Date: August_10,_1995 /s/_Robert_W._Boquet______________
Robert W. Boquet
President and C.E.O.
Principal Financial Officer
<TABLE> <S> <C>
<ARTICLE> 9
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> JUN-30-1995
<CASH> 5,404
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 2,600
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 16,166
<INVESTMENTS-CARRYING> 7,163
<INVESTMENTS-MARKET> 7,167
<LOANS> 50,864
<ALLOWANCE> 1,037
<TOTAL-ASSETS> 84,623
<DEPOSITS> 74,250
<SHORT-TERM> 393
<LIABILITIES-OTHER> 1,825
<LONG-TERM> 0
<COMMON> 776
0
0
<OTHER-SE> 7,379
<TOTAL-LIABILITIES-AND-EQUITY> 84,623
<INTEREST-LOAN> 2,228
<INTEREST-INVEST> 681
<INTEREST-OTHER> 80
<INTEREST-TOTAL> 2,989
<INTEREST-DEPOSIT> 1,170
<INTEREST-EXPENSE> 1,175
<INTEREST-INCOME-NET> 1,814
<LOAN-LOSSES> 0
<SECURITIES-GAINS> (1)
<EXPENSE-OTHER> 1,775
<INCOME-PRETAX> 651
<INCOME-PRE-EXTRAORDINARY> 454
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 454
<EPS-PRIMARY> 1.98
<EPS-DILUTED> 0
<YIELD-ACTUAL> 4.90
<LOANS-NON> 119
<LOANS-PAST> 105
<LOANS-TROUBLED> 992
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 1,133
<CHARGE-OFFS> 146
<RECOVERIES> 50
<ALLOWANCE-CLOSE> 1,037
<ALLOWANCE-DOMESTIC> 752
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 285
</TABLE>
