Glendale Bank Releases Earnings

Americas United Bank reported a net loss in its 2011 first quarter results. For the quarter ending March 31, the Glendale-based company reported a net loss of $1.19 million or $0.41 per diluted share compared to a net loss of $575,000 or $0.20 per diluted share for the same period last year. The first-quarter results reflect an operating loss of $1,194,000, or $0.41 per basic share due to the decision to substantially increase the loan loss reserve, said Adriana M. Boeka, president and chief executive officer.