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First American Bank Announces Addition of Wealth Management Leader

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Business Wire
September 22, 2005

BIRMINGHAM, Ala.--First American Bank, the largest subsidiary of Alabama National BanCorporation (NASDAQ/NMS:ALAB), announced the addition of Joseph T. Keating to the newly-created position of Executive Vice President - Chief Investment Officer and Head of Wealth Management. In this role, he will be responsible for the company's securities brokerage, trust, asset management and investment businesses.

"We are very excited to have someone of Joe's caliber join our team," said William E. Matthews V, Executive Vice President and Chief Financial Officer of Alabama National. "We believe his addition will help us to capitalize upon the opportunity to expand our wealth management division and allow us to better serve the needs of our growing customer base."

Keating's background includes 25 years in the investment business, 14 of which were at Old Kent Financial of Grand Rapids, Michigan, where he served as Chief Investment Officer. Following Old Kent's acquisition by Fifth Third Bank, Keating was Fifth Third's Chief Market Strategist and Chief Fixed Income Officer. He has been frequently quoted by the national media and has also appeared on CNBC and Bloomberg.

This press release contains forward-looking statements as defined by federal securities laws. Statements contained in this press release which are not historical facts are forward-looking statements. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. ANB undertakes no obligation to update these statements following the date of this press release. In addition, ANB, through its senior management, may make from time to time forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of ANB's senior management based upon current information and involve a number of risks and uncertainties. Certain factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by ANB with the Securities and Exchange Commission, and forward looking statements contained in this press release or in other public statements of ANB or its senior management should be considered in light of those factors. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.