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 March 31,_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 March 31, 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 -
March 31, 1995 and December 31, 1994.......................... 3
Consolidated Statements of Income -
Periods Ended March 31, 1995 and 1994......................... 4
Consolidated Statements of Changes in Stockholders' Equity -
Periods Ended March 31, 1995 and 1994......................... 5
Consolidated Statements of Cash Flows -
Periods Ended March 31, 1995 and 1994......................... 6
Notes to Consolidated Financial Statements...................... 8
Item 2. Management's Discussion and Analysis..................... 10
PART II--OTHER INFORMATION
Item 1. Legal Proceedings........................................ 14
Item 6. Exhibits and Reports on Form 8-K........................ 14
SIGNATURES......................................................... 14
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Condition
March 31, 1995 and December 31, 1994
Thousands of Dollars
Unaudited
<CAPTION>
Mar. 31, Dec. 31,
__1995__ __1994__
ASSETS
<S> <C> <C>
Cash and due from banks.......................................... $ 5,180 $ 4,667
Federal funds sold............................................... __2,100 __5,700
Total cash and cash equivalents....................... 7,280 10,367
Investment securities:
Available-for-sale securities at fair value (amortized cost
of $13,881 and $9,885 in 1995 and 1994, respectively)........ 13,805 9,608
Held-to-maturity securities at amortized cost (fair value of
$8,093 and $8,042 in 1995 and 1994, respectively)............ __8,235 __8,380
Total investment securities........................... 22,040 17,988
Loans............................................................ 50,978 51,652
Less: Unearned income......................................... (160) (161)
Allowance for loan losses............................... _(1,081) _(1,133)
Loans, net............................................ 49,737 50,358
Premises and equipment........................................... 1,957 1,970
Real estate acquired by foreclosure.............................. 324 335
Other assets..................................................... __1,269 __1,329
Total assets........................................ $ 82,607 $ 82,347
======= =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits (Note 2):
Noninterest-bearing............................................ $ 15,726 $ 16,372
Interest-bearing............................................... _58,381 _57,889
Total deposits........................................ 74,107 74,261
Federal funds purchased and securities sold under
repurchase agreements.......................................... 77 168
Other liabilities................................................ ____539 ____394
Total liabilities..................................... _74,723 _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.............................................. 3,829 3,602
Net unrealized gains (losses) on available-for-sale securities. (50) (183)
Treasury stock (Cost of 29,173 shares)......................... ___(934) __(934)
Total stockholders' equity............................ __7,884 __7,524
Total liabilities and stockholders' equity.......... $ 82,607 $ 82,347
======= =======
See notes to consolidated financial statements.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Income
Periods Ended March 31, 1995 and 1994
Thousands of Dollars Except for Per Share Data
Unaudited
<CAPTION>
Three_Months_Ended
Mar. 31, Mar. 31,
Interest income: __1995__ __1994__
<S> <C> <C>
Interest and fees on loans......................... $ 1,107 $ 842
Taxable securities income.......................... 307 386
Nontaxable securities income....................... 17 3
Interest on federal funds sold..................... _____36 _____22
Total interest income.......................... __1,467 __1,253
Interest expense:
Interest on deposits (Note 2)...................... 566 381
Interest on federal funds purchased and
securities sold under repurchase agreements...... ______2 ______1
Total interest expense......................... ____568 ____382
Net interest income................................ 899 871
Provisions for loan losses......................... ____--- ______5
Net interest income after provisions for loan losses 899 866
Noninterest income, excluding investment
securities gains and losses (Note 3)............. 299 337
Investment securities gains (losses)............... (1) ---
Noninterest expense (Note 4)....................... ____882 ____747
Earnings before income taxes....................... 315 456
Provision for income taxes......................... _____88 ____151
Net earnings....................................... $ 227 $ 305
======= =======
PER SHARE DATA:
Net earnings....................................... $ 0.99 $ 1.33
======= =======
Average common shares outstanding.................. 229,564 229,564
======= =======
See notes to consolidated financial statements.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Changes in Stockholders' Equity
Three Months Ended March 31, 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.................. --- --- 305 --- --- 305
Change in net unrealized gains
or losses on available-for-
sale securities............. __--- __--- __--- __--- _(207) _(207)
Balance at March 31, 1994..... $ 776 4,263 3,123 (934) 85 7,313
===== ===== ===== ===== ===== =====
Balance at December 31, 1994.. $ 776 4,263 3,602 (934) (183) 7,524
Net earnings.................. --- --- 227 --- --- 227
Change in net unrealized gains
or losses on available-for-
sale securities............. __--- __--- __--- __--- __133 __133
Balance at March 31, 1995..... $ 776 4,263 3,829 (934) (50) 7,884
===== ===== ===== ===== ===== =====
See notes to consolidated financial statements.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Cash Flows
Three Months Ended March 31, 1995 and 1994
Thousands of Dollars
Unaudited
<CAPTION>
Three_Months_Ended
Mar. 31, Mar. 31,
__1995__ __1994__
Cash flows from operating activities:
<S> <C> <C>
Interest received....................................... $ 1,499 $ 1,130
Fees and commissions received........................... 334 376
Interest paid........................................... (525) (384)
Other expenses paid..................................... (861) (773)
Income taxes paid....................................... ___(14) ___(27)
Net cash provided by operating activities............. ___433 ___322
Cash flows from investing activities:
Proceeds from sales of available-for-sale securities.... 999 ---
Proceeds from paydowns and maturities
of available-for-sale securities...................... 1,031 373
Purchases of available-for-sale securities.............. (6,042) (504)
Proceeds from paydowns and maturities
of held-to-maturity securities........................ 139 161
Purchases of held-to-maturity securities................ --- (1,219)
Loan originations, net of repayments.................... 591 (2,657)
Capital expenditures.................................... (32) (32)
Proceeds from sales of foreclosed assets................ 30 26
Net decrease (increase) in other assets................. _____9 _____6
Net cash provided by (used in) investment activities.. (3,275) (3,846)
Cash flows from financing activities:
Net increase (decrease) in deposits..................... (154) 3,964
Net increase (decrease) in securities sold
under repurchase agreements........................... (91) (42)
Net increase (decrease) in other liabilities............ ___--- _____8
Net cash provided by (used in) financing activities... __(245) _3,930
Net increase (decrease) in cash and cash equivalents...... (3,087) 406
Cash and cash equivalents at beginning of period.......... 10,367 _7,034
Cash and cash equivalents at end of period................ $ 7,280 $ 7,440
====== ======
(continued)
See notes to consolidated financial statements.
</TABLE>
<TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Consolidated Statements of Cash Flows
Three Months Ended March 31, 1995 and 1994
Thousands of Dollars
Unaudited
<CAPTION>
Three_Months_Ended
Mar. 31, Mar. 31,
__1995__ __1994__
Reconciliation of net income to net cash provided
by operating activities:
<S> <C> <C>
Net earnings.............................................. $ ___227 $ ___305
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....................................... 46 39
Write-downs of foreclosed assets...................... 11 23
Losses (gains) on sales of foreclosed assets.......... 4 (59)
Decrease (increase) in interest receivable............ 12 (147)
Amortization of goodwill.............................. 3 3
Amortization of premiums and (accretion of discounts)
on investment securities............................ 20 18
Decrease (increase) in prepaid expenses............... (24) (30)
Increase (decrease) in accrued expenses............... 2 22
Increase (decrease) in interest payable............... 44 (2)
Increase (decrease) in current income taxes payable... 85 (26)
Decrease (increase) in net deferred tax asset......... (11) 151
Net increase (decrease) in deferred loan fees
and other unearned income........................... ____13 ____20
Total adjustments................................. ___206 ____17
Net cash provided by operating activities................. $ 433 $ 322
====== ======
Supplemental schedule of noncash investing activities:
Assets acquired through foreclosure of loans............ $ 55 $ 8
====== ======
Loans made to finance sales of foreclosed assets........ $ 25 $ 54
====== ======
See notes to consolidated financial statements.
</TABLE>
AMERICAN BANCSHARES OF HOUMA, INC.
Notes to Consolidated Financial Statements
March 31, 1995 and 1994
Unaudited
(1) Summary of Significant Accounting Policies
The Company adopted Statement of Financial Accounting Standards
(SFAS) NO. 114, "Accounting for Loan Impairment by Creditors,"
effective January 1, 1995. SFAS No. 114 requires the measurement
of impaired loans to be based on the present value of expected
future cash flows discounted at the loan's effective interest
rate, or at the loan's observable market price or the fair value
of its collateral. SFAS NO. 114 does not apply to large groups
of smaller balance homogeneous loans that are collectively
evaluated for impairment. For the Company, loans collectively
evaluated for impairment include all single family mortgage loans,
loans to individuals for household, family and other consumer
expenditures, and performing multi-family and commercial and
industrial real estate loans ("major loans") under a certain
dollar amount, excluding loans which have entered the workout
process. The adoption of SFAS No. 114 did not result in
additional provisions for losses due to the Company's continuing
policy of measuring loan impairment based on methods prescribed in
SFAS NO. 114.
The Company considers a loan to be impaired when, based upon
current information and events, it believes it is probable that
the Company will be unable to collect all amounts due according to
the contractual terms of the loan agreement. The Company's
impaired loans within the scope of SFAS NO. 114 include troubled
debt restructurings and performing and nonperforming major loans
in which full payment of principal and interest is not expected.
The Company also adopted SFAS NO. 118, "Accounting by Creditors
for Impairment of a Loan - Income Recognition and Disclosures,"
effective January 1, 1995. This statement allows a creditor to
use existing methods for recognizing interest income on impaired
loans and thus the adoption of SFAS NO. 114 did not result in any
change in the amount of interest income reported.
The Company's impaired loans and the related allowance amounted to
approximately $1,009,000 and $14,000 at March 31, 1995,
respectively. There was no significant change in these amounts
during the three months ended March 31, 1995. Interest income
recognized on these loans amounted to approximately $21,000 for
the three months ended March 31, 1995.
No other 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.
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 $8,504,718 at March 31, 1995,
and $7,411,193 at December 31, 1994.
Interest expense on certificates of deposit of $100,000 or more
totaled $102,691 and $46,032 for the three months ended March 31,
1995 and 1994, respectively.
<TABLE>
(3) Noninterest Income
Details of noninterest income, excluding investment securities gains and losses, are
as follows:
<CAPTION>
Three_Months_Ended_Mar._31,
__1995__ __1994__
(Thousands of Dollars)
<S> <C> <C>
Service charges on deposit accounts.... $ 222 $ 203
Secondary market loan origination fees.. 15 52
Other loan fee income................... 8 23
Other................................... ______54 ______59
$ 299 $ 337
======== ========
</TABLE>
<TABLE>
(4) Noninterest Expense
Details of noninterest expense are as follows:
<CAPTION>
Three_Months_Ended_Mar._31,
__1995__ __1994__
(Thousands of Dollars)
<S> <C> <C>
Salaries and employee benefits.......... $ 425 $ 382
Net occupancy expense of premises....... 97 99
Equipment expense....................... 61 56
FDIC and state assessments.............. 44 40
Stationery, printing and supplies....... 28 32
Data processing......................... 34 35
Directors' fees......................... 44 19
Legal and professional fees............. 26 11
Postage................................. 18 22
Telephone expense....................... 16 16
Net foreclosed assets expense (income).. 6 (40)
Other................................... ______83 ______75
$ 882 $ 747
======== ========
</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's first quarter earnings for 1995 totaled $227,000,
providing a 1.13% return on average assets and an 11.97% return on
average equity. Net earnings decreased by $78,000 from the first
quarter of 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 quarter of 1995.
At March 31, 1995, nonaccrual loans totaled $207,000, restructured
loans totaled $1,009,000, loans past due 90 days or more totaled
$108,000, and foreclosed assets totaled $353,000. Overall, total
nonperforming assets increased by $208,000 or 14.2% 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 $28,000 over the
same period in 1994 due to the 10.6% increase in average interest
earning assets. The Bank's year-to-date net interest margin, on a
taxable equivalent basis, decreased to 4.94% from 5.26% due primarily
to the increased cost of funds resulting from higher interest rates and
an increase in certificates of deposit which pay higher rates than
other deposit products. The increase in income due to higher loan
volume more than offset the decrease 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 quarter
of 1995, as the $1,081,000 allowance (representing 2.1% of the
portfolio) is deemed to be adequate by Bank management. During the
first quarter of 1994, provisions for loan losses totaled $5,000. The
Bank recorded year-to-date net charge-offs of $52,000 in 1995 compared
to net recoveries of $13,000 for the same period in 1994.
Noninterest_Income
Year-to-date noninterest income decreased by $38,000 or 11.3% 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 due to higher mortgage
interest rates. 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 $135,000 or
18.1% over the same period in 1994. Salaries and employee benefits
increased $43,000 due primarily to merit increases, bonuses and
accruals for retirement plan contributions. Directors' fees increased
by $25,000 due to an increased fee schedule and additional committee
meetings. Legal and professional fees increased $15,000 primarily due
to additional consulting services and increased loan collection
expenses. The Bank recognized net losses on foreclosed assets of
$6,000 during the first quarter of 1995 compared to net gains of
$40,000 for the same period in 1994. Gains recognized on the sales of
certain foreclosed properties during the first quarter of 1994 resulted
in net gains in that period. 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 29.5% at March 31, 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
68.6% of total deposits at March 31, 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 March 31, 1995, the Bank's total
capital to total "risk-weighted" assets ratio equaled 17.80%, its "Tier
1" capital to total "risk-weighted" assets ratio equaled 16.54%, and
its leverage ratio equaled 9.34%. No dividends were declared during
the first quarters of 1995 and 1994.
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
Three Months Ended March 31, 1995 and 1994
Tax Equivalent Basis, Thousands of Dollars
Unaudited
<CAPTION>
____________________Three_Months_Ended___________________
_______Mar._31,_1995_______ _______Mar._31,_1994_______
Average Average Average Average
ASSETS Balance Interest _Rate__ Balance Interest _Rate__
INTEREST-EARNING ASSETS:
<S> <C> <C> <C> <C> <C> <C>
Loans, net of unearned income* $51,221 ___1,107 8.76% $40,168 _____842 8.50%
Investment securities: **
Taxable...................... 19,128 307 6.51 23,833 386 6.57
Nontaxable................... _1,442 ______24 6.75 ___235 _______4 6.90
Total investment securities. 20,570 331 6.53 24,068 390 6.57
Federal funds sold............ _2,519 ______36 5.80 _2,962 ______22 3.01
Total interest-earning assets 74,310 ___1,474 8.04 67,198 ___1,254 7.57
NONINTEREST-EARNING ASSETS AND
ALLOWANCE FOR LOAN LOSSES:
Cash and due from banks....... 4,556 4,390
Bank premises and equipment... 1,973 1,851
Other assets.................. 1,436 1,966
Allowance for loan losses..... (1,125) (1,164)
Total assets................ $81,150 $74,241
====== ======
LIABILITIES_AND
STOCKHOLDERS'_EQUITY
INTEREST-BEARING LIABILITIES:
NOW accounts.................. $10,144 60 2.40 $ 9,931 47 1.92
Money market accounts......... 7,714 56 2.94 8,528 54 2.57
Savings deposits.............. 9,376 69 2.98 9,634 64 2.69
Time deposits................. 30,106 ____381 5.13 23,165 _____216 3.78
Total interest-bearing
deposits................... 57,340 566 4.00 51,258 381 3.01
Short-term borrowings......... ___118 ______2 6.87 ____48 _______1 8.45
Total interest-bearing
liabilities................ 57,458 ____568 4.01 51,306 _____382 3.02
NONINTEREST-BEARING LIABILITIES
AND STOCKHOLDERS' EQUITY:
Noninterest-bearing deposits.. 15,471 15,189
Other liabilities............. 429 380
Stockholders' equity.......... _7,692 _7,366
Total liabilities and
stockholders' equity....... $81,150 $74,241
====== ======
Net interest earned on total
interest-earning assets...... $74,310 906 4.94% $67,198 872 5.26%
====== ======= ====== =======
*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 Three Months Ended March 31, 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
INTEREST_INCOME
<S> <C> <C> <C> <C> <C> <C>
Loans........................ $__238 ____27 __265 $__125 ___(56) ___69
Investment securities:
Taxable..................... (76) (3) (79) (91) (28) (119)
Nontaxable.................. ___20 ___--- ___20 ____2 ___--- ____2
Total investments.......... (56) (3) (59) (89) (28) (117)
Federal funds sold........... ___(4) ____18 ___14 ___14 ___--- ___14
Total interest income...... __178 ____42 __220 ___50 ___(84) __(34)
INTEREST_EXPENSE
Interest-bearing deposits:
NOW accounts................ 1 12 13 2 (4) (2)
Money market accounts....... (5) 7 2 (9) (1) (10)
Savings deposits............ (2) 7 5 (1) (7) (8)
Time deposits............... ___75 ____90 __165 ___(4) ____(2) ___(6)
Total interest-bearing
deposits.................. 69 116 185 (12) (14) (26)
Short-term borrowings....... ____1 ___--- ____1 ___(2) _____1 ____(1)
Total interest expense..... ___70 ___116 __186 __(14) ___(13) ___(27)
Net interest income........ $ 108 (74) 34 $ 64 (71) (7)
===== ====== ===== ===== ====== ======
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.
As disclosed in the 1994 Annual Report on Form 10-KSB filed on
March 30, 1995, regarding the suit of Alfred P. Cenac, Jr., et al., the
court dismissed, with prejudice, all actions against the Bank and the
other defendants on March 23, 1995. The plaintiffs' subsequent request
for a new trial was denied, and the plaintiffs have filed an appeal.
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 March 31, 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: May_11,_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> 3-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> MAR-31-1995
<CASH> 5180
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 2100
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 13805
<INVESTMENTS-CARRYING> 8235
<INVESTMENTS-MARKET> 8093
<LOANS> 50978
<ALLOWANCE> 1081
<TOTAL-ASSETS> 82607
<DEPOSITS> 74107
<SHORT-TERM> 77
<LIABILITIES-OTHER> 539
<LONG-TERM> 0
<COMMON> 776
0
0
<OTHER-SE> 7108
<TOTAL-LIABILITIES-AND-EQUITY> 82607
<INTEREST-LOAN> 1107
<INTEREST-INVEST> 324
<INTEREST-OTHER> 36
<INTEREST-TOTAL> 1467
<INTEREST-DEPOSIT> 566
<INTEREST-EXPENSE> 568
<INTEREST-INCOME-NET> 899
<LOAN-LOSSES> 0
<SECURITIES-GAINS> (1)
<EXPENSE-OTHER> 882
<INCOME-PRETAX> 315
<INCOME-PRE-EXTRAORDINARY> 315
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 227
<EPS-PRIMARY> 0.99
<EPS-DILUTED> 0
<YIELD-ACTUAL> 4.94
<LOANS-NON> 207
<LOANS-PAST> 108
<LOANS-TROUBLED> 1009
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 1133
<CHARGE-OFFS> 64
<RECOVERIES> 12
<ALLOWANCE-CLOSE> 1081
<ALLOWANCE-DOMESTIC> 727
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 354
</TABLE>
