FOR IMMEDIATE RELEASE:
May 28, 2008

For more information contact:
Michael E. Bell, EVP
563-441-6520
mbell@ambankqc.com

AmBank Holdings, Inc., elects two new Directors at its 40th Annual Shareholder Meeting

The 40th Annual Meeting of the Shareholders of AmBank Holdings, Inc., was held on Monday, May 19th, 2008 at the company’s corporate headquarters in Davenport, Iowa. AmBank Holdings, Inc., is the parent company of American Bank and Trust Company, N.A., a full-service commercial bank with 200 employees, 14 retail locations, a mortgage loan origination office, and trust & financial services divisions in the Quad Cities, IL/IA, Kane County, IL and Johnson County, IA.

Newly elected to serve on the company’s board of directors were Mr. Joseph L. Lemon, Sr., and Mr. James S. Bellig. Mr. Lemon and Mr. Bellig will each serve a three-year term expiring in 2011. Remaining AmBank Holdings, Inc., directors include: Mr. Pryce Boeye, senior vice president & director of community relations, Mel Foster Company, Inc., Mr. Stanley H. Coin, founder and retired chairman of AmBank Holdings, Inc., Mr. Harry S. Coin, chairman/president & chief executive officer; Mr. Dennis Craven, president, Southgate Development Company; Mr. James V. Russell, president, Russell Construction Company; Mr. Steven R. Schroder, president, E.H. Schroder Insurance Agency, Inc.; and Mr. Nathan D. Koch, executive vice president and general counsel of American Bank and Trust Company

In his remarks to company shareholders, Mr. Harry S. Coin commented, "2007 was an exciting year for AmBank Holdings, Inc., marked by strong growth, process improvement and strategic planning for the future." Asset growth during 2007 was over 80% higher than the company’s national peer group average and loan growth was over 120% higher than the company’s national peer group average. Mr. Coin stated, "Both achievements are remarkable and were driven largely by our business development efforts, branch network and private client services division."

During 2007, the Company enhanced its Kane County, IL franchise by making two key staff additions. James E. Allen, was hired and named Chicagoland market president and Scott D. Theuerkauf joined the company as Chicagoland senior vice president of commercial lending. Both are expected to provide leadership and to make significant contributions to the company’s future growth and development.

Additionally in 2007, the company completed a successful conversion of its core processing system to a new provider and also implemented a detailed process improvement plan designed to enhance client service which resulted in the restructuring of several company departments. The company also established a new branch location in Iowa City, IA; a mortgage origination office in Oakbrook Terrace, IL and a disaster recovery center for its information technology platform. "Each of these investments is in conjunction with the company’s long-term strategic plan and early results in 2008 are positive that each decision was successful," Mr. Coin said.

Following are the financial highlights of 2007:

• Loans increased to $487,626,000, an increase of 23.18%.
• Total assets of the company grew 14.26% to approximately $655 million. Growth of the company included a 21.96% deposit growth of $100,968,000, offset by debt reduction of $23,112,000 or 37.88%.
• Stockholders’ equity, excluding unrealized gains and (losses) on securities available for sale, increased by $3,197,000.

Mr. Coin concluded by recognizing the Company’s board of directors, executive management team, employees, shareholders and clients who have all contributed to the Company’s success and longevity.

"In light of increasing corporate governance, I am extremely grateful for our directors’ endless confidence, guidance and support. Likewise, I admire our management team’s vision, entrepreneurial spirit and commitment to excellence. I applaud our team of associates who are truly the key to the bank’s continued success and I thank our loyal shareholders and clients who have chosen and continue to support our brand. While there are many choices today in Banking and financial services, they continue to expand their relationship with us while referring us to their colleagues which is a compliment and privilege that we hold in the highest regard."