Log Home Mortgage

James M. Deitch, Chairman and CEO of American Home Bank, N.A. announced on December 3 that the Bank had completed its stock offering of 150,000 shares of new common stock. 75,000 shares were offered to new investors, with the remaining 75,000 offered by way of shareholders’ rights to existing investors. The offering price was $12.50 per share, a 25% increase over the initial offering price of $10.00.

Deitch stated, “The increase in capital provides additional resources to continue American Home Bank’s growth. We sincerely appreciate the strong support received from both existing and new investors. The demand for the Bank’s shares exceeded the amount offered.”

Deitch also announced that American Home Bank earned an after tax profit of $31,000 for the quarter ended September 30, 2002. The profit was earned well in advance of the business plan. “We are delighted to turn profitable within our first year of operation. This is directly attributable to the hard work of all of our employees.”

The Bank recently leased an additional 6,000 square feet in Lancaster and plans to add twenty employees by early 2003.

American Home Bank opened in August 2001, after raising $12 million in initial capital. The Bank opened loan production offices in Carlisle and Lewisburg in February 2002. The Bank completed the purchase of Aarrow Mortgage Group and BestPriceMortgage.com in June 2002.