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                                                   AMERICASBANK CORP.
                                                   CONTACT: MARK H. ANDERS
                                                   PHONE:   443-921-0804
                                                   WEBSITE: www.americasbank.com

                        AMERICASBANK CORP. INCREASES LOAN
                      LOSS ALLOWANCE IN THIRD QUARTER 2006


TOWSON, MD. (October 16, 2006) --AmericasBank Corp. (NASDAQ:AMAB), the parent
company of AmericasBank, today announced it took a provision for loan and lease
losses of $470,000 in its quarter ending September 30, 2006. The provision
boosts the Towson-based Bank's allowance for loan and lease losses from $454,000
at June 30, 2006 to $916,000 at September 30, 2006. This increases the allowance
for loans and leases as a percent of loans from 0.71% at June 30, 2006 to
approximately 1.15% at September 30, 2006.

Mark H. Anders, President and CEO of the Company said: "Our provision for loan
and lease losses in the third quarter should not be interpreted as a significant
weakening in the asset quality of the bank. There were no new non-performing
assets for the quarter. The loan loss provision for the third quarter includes
$123,000 for the nearly $16 million in loan growth during the third quarter and
$112,000 to increase the allowance percentage on residential investment
properties to reflect the softness in the local real estate market. The loan
loss provision for the quarter also included a special provision of $167,000 on
a $588,000 land development loan that has been on nonaccrual status since March
2005, and $68,000 for the downgrade in the risk rating on several loans in the
portfolio."

"With respect to the land development loan on nonaccrual status, negotiations
between the contract purchaser of the property and the municipality where the
land is located have broken down, which exposes the bank to increased risks,
including the risk of our borrower filing for bankruptcy protection and a
possible foreclosure action. Increasing our reserves at this time is prudent in
light of current events. The loans that have had been downgraded include a
commercial finance lease of $153,000 and three loans to one borrower aggregating
$600,000 secured by residential investment properties. With regard to the
latter, the borrower is actively marketing the properties securing our loans and
we believe that the proceeds from these sales should repay the debt in full. The
additional allowance on these loans reflects the heightened risk that our loans
may not be fully repaid from the sale," said Anders.

AmericasBank Corp. plans to release its full financial results for the three and
nine months ended September 30, 2006 before the end of October.

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ABOUT AMERICASBANK CORP.

AmericasBank Corp. is the parent company of AmericasBank, a Maryland-chartered
commercial bank headquartered in Towson, Maryland. AmericasBank is dedicated to
contributing to the growth and prosperity of the communities it serves, with a
special focus on serving the needs of the business community and promoting home
ownership.

The statements in this press release that are not historical facts constitute
"forward-looking statements" as defined by Federal Securities laws. Such
statements, regarding AmericasBank Corp.'s anticipated future results of
operations, are subject to risks and uncertainties that could cause actual
results to differ materially from future results expressed or implied by such
forward-looking statements. Potential risks and uncertainties include, but are
not limited to: the risk that AmericasBank Corp. may continue to incur losses;
the possible loss of key personnel; the inability to successfully implement
strategic initiatives; risk of changes in interest rates, deposit flows and loan
demand; risks associated with AmericasBank's lending limit; risks associated
with the lack of a credit facility; risk associated with having a large
percentage of residential real estate loans secured by investment properties;
risk of an industry concentration with respect to deposits; risk of credit
losses; risks associated with residential mortgage lending, including acting as
a correspondent lender; risk associated with a slowdown in the housing market or
high interest rates; the allowance for loan and lease losses may not be
sufficient; operational risks of the leasing companies to which AmericasBank has
extended credit in connection with the lease portfolio; dependence on third
party vendors; risk of insufficient capital; risk of possible future regulatory
action as a result of past violations of the Real Estate Settlement Procedures
Act; as well as changes in economic, competitive, governmental, regulatory,
technological and other factors that may affect AmericasBank Corp. or
AmericasBank specifically or the banking industry generally. Forward-looking
statements speak only as of the date they are made. AmericasBank Corp. will not
update forward-looking statements to reflect factual assumptions, circumstances
or events that have changed after a forward-looking statement was made. For
further information, please refer to the AmericasBank Corp.'s filings with the
U.S. Securities and Exchange Commission and available at their web site
www.sec.gov.