SEC Comment Letter for AMERICAN BANK INC (CIK 0001163747) — Oct 25, 2005
AMERICAN BANK INC (CIK 0001163747)
Date: Oct. 25, 2005 · CIK: 0001163747 · Accession: 0000000000-05-054233
AI Filing Summary & Sentiment
Referenced dates: October 13, 2005
Letter
Mail Stop 4561 By U.S. Mail and facsimile to (610)366-1900 Mr. Mark W. Jaindl President and Chief Executive Officer American Bank Incorporated 4029 West Tilghman Street Allentown, PA 18104
Re: American Bank Incorporated Form 10-K for the Fiscal Year Ended December 31, 2004
Dear Mr. Jaindl:
We have reviewed your response letter dated October 13, 2005 and have the following additional comment.
Form 10-K, filed on March 30, 2005
Financial Statements as of and for the years ended December 31, and 2003
Note 4 - Securities, page F-15 1. We have read the additional information that you provided regarding the unrealized losses on your preferred stock holdings in Federal National Mortgage Association (Series F) and Federal Home Loan Mortgage Corporation (Series M and Preferred 5.70%). For each of these securities, please specify the period of expected recovery in market value and explain how you determined that you had the intent and ability to hold these securities until such expected recovery. Please also explain how you determined that a market price below the carrying cost of a security on each of the reset dates is not indicative of other-than-temporary impairment requiring a write- down of the carrying value of the investment.
* * * * *
Please respond to this comment within 10 business days or tell us when you will provide us with a response. Please furnish a letter that keys your responses to our comment and provide any requested supplemental information. Detailed letters greatly facilitate our review. Please understand that we may have additional comments after reviewing your response to our comments.
You may contact Amanda Roberts at (202) 551-3417 or me at (202) 551-3490 if you have any questions regarding comments on the financial statements and related matters.
Sincerely,
Amit Pande
Assistant Chief Accountant
Show Raw Text
<DOCUMENT>
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<SEQUENCE>1
<FILENAME>filename1.txt
<TEXT>
October 25, 2005
Mail Stop 4561
By U.S. Mail and facsimile to (610)366-1900
Mr. Mark W. Jaindl
President and Chief Executive Officer
American Bank Incorporated
4029 West Tilghman Street
Allentown, PA 18104
Re: American Bank Incorporated
Form 10-K for the Fiscal Year Ended December 31, 2004
Dear Mr. Jaindl:
We have reviewed your response letter dated October 13, 2005
and have the following additional comment.
Form 10-K, filed on March 30, 2005
Financial Statements as of and for the years ended December 31,
2004
and 2003
Note 4 - Securities, page F-15
1. We have read the additional information that you provided
regarding the unrealized losses on your preferred stock holdings
in
Federal National Mortgage Association (Series F) and Federal Home
Loan Mortgage Corporation (Series M and Preferred 5.70%). For
each
of these securities, please specify the period of expected
recovery
in market value and explain how you determined that you had the
intent and ability to hold these securities until such expected
recovery. Please also explain how you determined that a market
price
below the carrying cost of a security on each of the reset dates
is
not indicative of other-than-temporary impairment requiring a
write-
down of the carrying value of the investment.
* * * * *
Please respond to this comment within 10 business days or
tell
us when you will provide us with a response. Please furnish a
letter
that keys your responses to our comment and provide any requested
supplemental information. Detailed letters greatly facilitate our
review. Please understand that we may have additional comments
after
reviewing your response to our comments.
You may contact Amanda Roberts at (202) 551-3417 or me at
(202) 551-3490 if you have any questions regarding comments on the
financial statements and related matters.
Sincerely,
Amit Pande
Assistant Chief Accountant
Mr. Mark W. Jaindl
American Bank Incorporated
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