UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM 10-Q

(Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 1995.
                                                        OR
[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

For the transition period from______________to_______________

Commission file number 0-18127

                           AMERICAN BANCORP OF NEVADA
             (Exact name of registrant as specified in its charter)

           Nevada                                      94-2792608
(State or other jurisdiction of                    (I.R.S. Employer
incorporation or organization)                   Identification No.)

4425 Spring Mountain Road, Las Vegas, Nevada                           89102
(Address of principal executive offices)                             (Zip Code)

                                 (702) 362-7222
              (Registrant's telephone number, including area code)

         Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Sections 13 or 15(d) of the  Securities  Exchange Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. Yes X No

         Indicate  the  number of  shares  outstanding  of each of the  issuer's
classes of common stock, as of September 30, 1995:

Common stock, $.05 par value                                     3,168,293
----------------------------                                     ---------
          Class                                             Number of Shares


<PAGE>


                            I FINANCIAL INFORMATION
                   AMERICAN BANCORP OF NEVADA AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                NINE MONTHS AND QUARTERS ENDED SEPTEMBER 30, 1995
                    AND 1994 (Dollars in thousands except for
                               earnings per share)
                                   (Unaudited)
<TABLE>

                                                                            For the Nine                        For the
                                                                            Months Ended                     Quarter Ended
                                                                            September 30,                     September 30,
                                                                  ---------------------------            ---------------------------
                                                                    1995              1994                1995               1994
                                                                  --------           --------            -------           ---------
<S>                                                               <C>                <C>                 <C>               <C>
INTEREST INCOME
 Interest and Fees on Loans ............................          $  8,601           $  5,967           $  3,042           $  2,243
 Interest on Investment Securities .....................             5,535              4,378              1,981              1,662
 Interest on Federal Funds Sold ........................               315                123                 95                 29
                                                                  --------           --------           --------           --------

 Total Interest Income .................................            14,451             10,468              5,118              3,934
                                                                  --------           --------           --------           --------

INTEREST EXPENSE
 Interest on Deposits ..................................             3,798              2,083              1,352                770
 Interest on Securities Sold Under
  Agreement to Repurchase ..............................               712                273                306                125
                                                                  --------           --------           --------           --------

 Total Interest Expense ................................             4,510              2,356              1,658                895
                                                                  --------           --------           --------           --------

NET INTEREST INCOME ....................................             9,941              8,112              3,460              3,039

 Provision for Loan Loss ...............................              (420)               (20)              (150)                80
                                                                  --------           --------           --------           --------

NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSS ..........................................             9,521              8,092              3,310              3,119

TOTAL NON-INTEREST INCOME: .............................             1,055              1,265                305                403

TOTAL NON-INTEREST EXPENSE: ............................             6,426              6,096              2,147              2,165
                                                                  --------           --------           --------           --------

INCOME BEFORE TAXES ....................................             4,150              3,261              1,468              1,357

PROVISION FOR INCOME TAXES .............................            (1,071)              (840)              (340)              (375)
                                                                  --------           --------           --------           --------

NET INCOME .............................................          $  3,079           $  2,421           $  1,128           $    982
                                                                  ========           ========           ========           ========


NET INCOME PER SHARE ...................................          $    .94           $    .77           $    .34           $    .31
                                                                  ========           ========           ========           ========

</TABLE>
The accompanying notes are an integral part of these statements.

<PAGE>


                                    AMERICAN BANCORP OF NEVADA AND SUBSIDIARIES
                                  CONDENSED CONSOLIDATED STATEMENTS OF CONDITION
                                    AT SEPTEMBER 30, 1995 AND DECEMBER 31, 1994
                                              (Dollars in Thousands)
                                                    (Unaudited)

                                                   September 30,    December 31,
                                                       1995             1994
                                                   -------------    ------------
ASSETS

Cash and Due From Banks ......................       $  29,842        $  22,216
Federal Funds Sold ...........................           3,050                0
                                                     ---------        ---------
 Total Cash and Cash Equivalents .............          32,892           22,216

Investment Securities Available
 for Sale ....................................          99,391           90,060
Investment Securities Held to
 Maturity (fair market value
 $25,952 at September 30, 1995,
 $26,147 at December 31, 1994) ...............          25,727           26,603
Net Loans and Leases .........................          95,149           75,378
Premises and Fixed Assets, Net ...............          10,280            9,566
Other Assets .................................           3,115            3,596
                                                     ---------        ---------


TOTAL ASSETS .................................       $ 266,554        $ 227,419
                                                     =========        =========

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits .....................................       $ 206,357        $ 192,811
Securities Sold Under
 Agreements to Repurchase ....................          33,620           13,780
Other Liabilities ............................           1,210              697
                                                     ---------        ---------

TOTAL LIABILITIES ............................       $ 241,187        $ 207,288
                                                     ---------        ---------

STOCKHOLDERS' EQUITY

Unrealized Gain (Loss) on
 Available for Sale
 Securities ..................................       $     105        $  (1,988)
Common Stock .................................             159              119
Surplus ......................................          20,110           20,084

Retained Earnings ............................           5,128            2,051
Less Treasury Stock ..........................            (135)            (135)
                                                     ---------        ---------

TOTAL STOCKHOLDERS' EQUITY ...................       $  25,367        $  20,131
                                                     ---------        ---------

TOTAL LIABILITIES AND
 STOCKHOLDERS' EQUITY ........................       $ 266,554        $ 227,419
                                                     =========        =========

The accompanying notes are an integral part of these statements.

<PAGE>


                  AMERICAN BANCORP OF NEVADA AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                  NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
                             (Dollars in Thousands)
                                   (Unaudited)
                                                           Nine Months Ended
                                                              September 30,
                                                        ------------------------
                                                          1995           1994
                                                        --------       ---------
CASH FLOWS FROM OPERATING ACTIVITIES:

Interest received ................................      $ 13,778       $ 10,059
Other income .....................................         1,007          1,050
Interest paid ....................................        (4,482)        (2,332)
Cash paid to suppliers and employees .............        (5,619)        (4,334)
Income taxes paid ................................          (928)        (1,157)
                                                        --------       --------

Net cash provided by operating activities ........         3,756          3,286
                                                        --------       --------

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sales and maturities of
 investment securities ...........................        51,867         76,364
Purchase of investment securities ................       (57,019)       (79,759)
Net increase in loans made
 to customers ....................................       (20,169)       (12,850)
Capital expenditures .............................        (1,210)          (733)
Proceeds from sale of R.E.O ......................             0            188
                                                        --------       --------

Net cash used in investing activities ............       (26,531)       (16,790)

CASH FLOWS FROM FINANCING ACTIVITIES:

Net increase in demand deposits ..................        13,546         17,296
Net increase(decrease) in federal funds
 purchased and securities sold under
 repurchase agreements ...........................        19,840         (1,770)
Other ............................................            65           (496)
                                                        --------       --------

Net cash provided by financing activities ........        33,451         15,030
                                                        --------       --------

NET INCREASE IN CASH AND DUE
 FROM BANKS AND FEDERAL FUNDS SOLD ...............        10,676          1,526


CASH AND DUE FROM BANKS AND FEDERAL
 FUNDS SOLD AT JANUARY 1 .........................        22,216         22,473
                                                        --------       --------

CASH AND DUE FROM BANKS AND FEDERAL
 FUNDS SOLD AT SEPTEMBER 30 ......................      $ 32,892       $ 23,999
                                                        ========       ========
(Continued)


<PAGE>

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)


                                                            Nine Months Ended
                                                               September 30,
                                                         -----------------------
                                                           1995          1994
                                                         -----------------------
RECONCILIATION OF NET INCOME TO NET
 CASH PROVIDED BY OPERATING ACTIVITIES:

Net income .........................................     $  3,079      $  2,421
Adjustments to reconcile net income to
 net cash provided by operating activities:
 Depreciation and amortization of
  property and equipment ...........................          495           495
 Amortization of investment security
  premiums and accretion of discounts ..............         (153)         (143)
 Provision for loan loss ...........................          420            20
 Deferred loan fees ................................          (22)           84
 Gain on sale of investment securities .............           20            53
 Decrease (increase) in other assets ...............         (596)          535
 Increase (decrease) in other liabilities ..........          513          (179)
                                                         --------      --------

NET CASH PROVIDED BY OPERATING ACTIVITIES ..........     $  3,756      $  3,286
                                                         ========      ========


SUPPLEMENTAL SCHEDULE OF NON-CASH
 INVESTING AND FINANCING ACTIVITIES:



Stock dividends issued .............................                   $  3,826

Issuance of common stock for
 stock split .......................................     $ 39,600


The accompanying notes are an integral part of these statements.

<PAGE>


                  AMERICAN BANCORP OF NEVADA AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 1995
                                   (Unaudited)

                              FINANCIAL INFORMATION

NOTE A - PRINCIPLES OF CONSOLIDATION

          The  condensed  consolidated  financial  statements  include  the
          parent holding company  ("Company") and its wholly owned subsidiaries,
          American Bank of Commerce ("Bank"), AmBank Mortgage Company ("Mortgage
          Company") and AmBank Financial Company ("Finance  Company").  Material
          intercompany balances and transactions have been eliminated.

NOTE B - BASIS OF PRESENTATION

          In the  opinion of  management  ("Management"),  all  adjustments
          (consisting only of normal recurring  accruals)  considered  necessary
          for  a  fair   presentation  have  been  reflected  in  the  financial
          statements.  The results of  operations  for the three and nine months
          ended  September  30,  1995,  are not  necessarily  indicative  of the
          results to be expected for the full year.

NOTE C - INCOME PER SHARE

          Net Income Per Common  Share is based upon the  weighted  average
          number of common and common equivalent shares  outstanding,  3,259,529
          and 3,055,984 for the three months ended  September 30, 1995 and 1994,
          respectively . 

          The weighted  average  number of common shares,  common
          shares  outstanding and earnings per share are adjusted to reflect a 4
          for 3 stock  split  declared on March 20,  1995,  to  stockholders  of
          record as of April 4, 1995.

NOTE D - ACCOUNTING PRONOUNCEMENTS

          Effective  January 1, 1995 the Company adopted FASB Statement No.
          114,  Accounting  by  Creditors  for  Impairment  of a Loan  and  FASB
          Statement  No. 118 which  amended  certain  provisions of FASB No. 114
          with respect to income recognition and disclosures. The Company has no
          loans which it considers to be impaired under the  definitions of FASB
          Statements No. 114 and No. 118 and therefore the adoption of these new
          accounting  pronouncements  did not have an  effect  on the  Company's
          consolidated financial statements.

          The  Financial  Accounting  Standards  Board  has also  approved,
          effective for years beginning  after December 15, 1995,  Statement No.
          121, Accounting for the Impairment of Long-Lived Assets to Be Disposed
          Of and Statement No. 122, Accounting for Mortgaging  Servicing Rights.
          FASB  Statements  No. 121 and 122 are not  expected to have a material
          effect on the consolidated financial statements when adopted.

<PAGE>

                                             
ITEM II
-------

                   AMERICAN BANCORP OF NEVADA AND SUBSIDIARIES

The following is  Management's  discussion  and analysis of certain  significant
factors which affected the company's  financial  position and operating  results
during  the  period  in  the  accompanying   condensed   consolidated  financial
statements.

MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

Nine Months Ended September 30, 1995
------------------------------------

Asset Growth
------------

Total assets  increased  $39,135,000  or 17.21%  during the first nine months of
1995. The primary  elements of this growth were a $19,771,000 or 26.23% increase
in  Net  Loans  and  Leases,  a  $8,455,000  or  7.25%  increase  in  Investment
Securities,  a  $7,626,000  or 34.33%  increase in Cash and Due From Banks and a
$3,050,000  increase  in  Federal  Funds  Sold.  Asset  growth was driven by the
increases in Deposits and  Securities  Sold Under  Agreements  to  Repurchase of
$33,386,000 or 16.16%.  Both deposits and loans continue to increase as a result
of   the   Bank's   aggressive   business   development   efforts,    successful
operation,increased  recognition  throughout  the  business  community  and  the
overall strength of the Las Vegas economy.

Interest Income
---------------

Total interest income increased $3,983,000 or 38.05% in the first nine months of
1995 when compared to the same period of 1994 and increased  $1,184,000 or 30.1%
for the quarter ended September 30. It is anticipated  that interest income will
continue to increase due to the growth in  Investment  Securities  and Net Loans
and Leases. Total interest income is composed of the following categories:

     Interest and Fees on Loans: Interest and fee income increased by $2,634,000
or 44.14% during the first nine months of 1995 as compared to the same period of
1994, and increased  $799,000 or 35.62% for the quarter ended  September 30. The
year-to-date  increase is  comprised  of a $41,000  increase in fee income and a
$2,593,000  increase  in  interest  on loans.  Fee  income  increased  due to an
increase  in loan  demand.  Interest  on loans  increased  due to an increase in
average loan volume of $21,434,000  to $88,389,000  and an increase in the yield
from 9.51% in 1994 to 11.11% in 1995 a net increase of 1.6%. The quarter to date
change is composed of a $5,000 decrease in fee income and a $804,000 increase in
interest  income.  Fee income decreased due to a decrease in new loan demand for
the quarter.  Interest on loans  increased  due to an increase in the yield from
10.12% for the quarter  ended  September  30, 1994 to 11.05% for the same period
1995,  a net  increase  of  0.93%.  This  represents  an  increase  in income of
$166,000.  The average loan volume  increased to $94,506,000 from $71,441,000 an
increase of  $23,065,000  or 32.29%  which  represents  an increase in income of
$638,000.

Interest on Investment Securities: The Bank continues to invest its excess funds
in interest bearing securities.  Interest on securities increased by $1,157,000,
or 26.43%,  in the first nine  months of 1995 as  compared to the same period in
1994.  This was the result of an increase  of  $6,449,000  in average  volume of
investments  to  $125,376,000,  coupled  with an increase in yield from 4.91% to
5.89%.  The increase in yield is  attributable  to the  reinvestment of maturing
securities and pay downs of the mortgage backed portfolio. The mix of the Bank's
investment  portfolio remains consistent with the prior year. The tax-equivalent
yield  increased from 5.37% to 6.31%.  Comparing the quarter ended September 30,
1995 to September 30, 1994,  interest income increased  $319,000 or 19.19%.  The
average volume increased  $6,970,000 to $132,686,000 coupled with an increase in
the yield to 5.97% from  5.29%.  The Bank's  current  investment  strategy is to
maintain an investment portfolio with rather short maturities.  At this time the
relative  flatness  of the  yield  curve  does  not  warrant  increased  risk or
extending the overall maturity of the portfolio. Management continually monitors
these  and  other  factors  when  evaluating  investment  strategies  and  asset
liability management.

Interest on Federal Funds Sold:  Interest earned on Federal Funds Sold increased
$192,000  or 156.1%,  in the first nine  months of 1995 as compared to the first
nine  months  of 1994.  This  increase  was due to an  increase  in the  average
interest rate from 3.53% to 5.76% for Federal Funds Sold.  Comparing the quarter
ended September 30, 1995 with the same period of the prior year, interest income
increased  $66,000 or 227.59%.  This increase is  attributable to an increase in
the average  volume of  $3,956,000 or 145.55% to  $6,674,000.  The average yield
increased  to 5.69%  from  4.27%.  Management's  goal is to  maintain a level of
Federal Funds that will enable the Bank to fund  increases in loan demand and to
meet depositors' needs.

<PAGE>

Interest Expense
----------------

Total interest expense increased  $2,154,000,  or 91.43%,  during the first nine
months  of 1995 as  compared  to the first  nine  months  of 1994.  Interest  on
deposits  increased  $1,715,000  or 82.33%  due to an  increase  in the  average
balances of  interest  bearing  accounts by  $17,550,000  to  $128,860,000.  The
average  rate  paid on  deposits  increased  from 2.5% in 1994 to 3.93% in 1995.
Interest on securities sold under agreements to repurchase increased $439,000 or
160.81% as the  average  volume  increased  $8,899,000  to  $22,334,000  and the
average interest rate increased from 2.71% to 4.25%.  Total interest expense for
the quarter ended September 30, 1995, increased $763,000 or 85.25% when compared
to the same period of 1994.  Interest on deposits  increased  $582,000 or 75.58%
due to an increase in the average balances of $15,496,000 to  $132,128,000.  The
average  rate paid on  deposits  increased  to 4.09%  from  2.64%.  Interest  on
securities sold under agreements to repurchase  increased  $181,000 or 144.8% as
the average volume increased  $12,459,000 to $28,511,000.  The average rate paid
increased  1.17% to  4.29%.  Management  believes  that the  average  volume  of
deposits and repurchase agreements will continue to increase during 1995.

Interest Rate Risk
------------------

Management  attempts to protect  earnings from wide shifts in interest  rates by
employing the following strategies:

Loans:  Approximately  88.22% of the  bank's  loan  portfolio  is  written on an
adjustable  basis  that  floats  with  the  prime  rate.   Thus,   approximately
$85,525,000 reprices immediately upon a change in base.

Investments:  The majority of the investment portfolio of the Bank is of a fixed
rate nature.  This enables  Management to provide an underlying  level of income
irrespective  of  changes  in  rates.  Additionally,  the  average  life  of the
portfolio is 1.62 years. This strategy of maintaining short maturities  provides
maximum flexibility in dealing with fluctuating interest rates.

Deposits:  Management  discourages  use of long term  Certificates of Deposit by
consistently  paying at or below market rates and not offering  greater than one
year maturities.  However, an attempt is currently underway to recapture some of
the  jumbo  short-term  Certificates  of  Deposit  market.  Offering  rates  for
Certificates  of  Deposit  over  $100,000  and less than one year  maturity  are
reviewed weekly for  adjustments.  At September 30, 1995,  approximately  54% of
time deposits over $100,000 had a maturity of three months or less.

The above  factors,  taken into  consideration  together  with the fact that the
Bank's non-interest  bearing customer deposits are approximately 39.79% of total
deposits, provides Management the opportunity to maintain favorable net interest
margins under most normal interest rate scenarios.

Provision for Loan Losses
-------------------------

The  provision  for loan losses in the first nine  months of 1995 was  $420,000,
$400,000  more than the first nine  months of 1994.  Net  charged  off loans and
leases were $31,000 through  September 30, 1995, and ($67,000) through September
30,  1994.  The  allowance  for loan  loss was  1.16%  of loans  outstanding  at
September 30, 1995, as compared to 0.92% at September 30,1994.

At September 30, 1995, no loans were accounted for on a non-accrual basis and no
loans were past due 90 days or more, or classified as doubtful.

<PAGE>

Additionally,   at  September  30,  1995,  Management  classified  15  loans  as
substandard,  for an aggregate of $1,215,000.  This amount  represents  1.25% of
outstanding loans.

Management  reviews the loan loss analysis on a quarterly basis. A percentage of
the loss reserve is  allocated to pass  credits,  classified  credits,  doubtful
credits, and loss credits.  Management made a conscious decision to increase the
level of reserve as a percentage of net loans.  This was due to the rapid growth
of the portfolio and the changing mix of loans within it.

Management  reviews  portfolio  concentration  levels  on a  regular  basis  and
appraisal reviews are performed to support the values at which loans are carried
in the portfolio.  Construction  lending is generally focused on entry level and
first move-up homes. Lending for larger, speculative homes is tightly limited to
financially sound borrowers. Commercial real estate lending is generally limited
to owner-occupied properties.

Management  believes the current  allowance of  $1,116,000  is adequate and that
there is sufficient  unallocated  allowance to handle unexpected problems within
the portfolio.

The table below details the amount of loans charged to reserve and the additions
to the allowance for possible loan loss for the nine months ended  September 30,
1995.

Allowance for Loan Losses, January 1 ........................       $   727,000
Deduct:
 Loans Charged Off During the Year ..........................           (61,000)
 Less Recoveries of Losses Previously Charged Off ...........            30,000
                                                                    -----------
 Net Loans Charged Off ......................................            31,000
                                                                    -----------
Allowance Prior to Additions ................................           696,000

Additions to Allowance Charged to
 Operating Expense ..........................................           420,000

Allowance for Loan Losses, September 30 .....................       $ 1,116,000
                                                                    ===========


The schedule below shows the major categories of loan charge-offs and recoveries
for the nine months ended September 30, 1995.

NET CHARGE-OFFS                                 

Charge-Offs:
 Commercial, financial and industrial .........................          $60,000
 Real estate loans
 Commercial (secured by real estate) ..........................                0
 Construction and land development ............................                0
 Residential ..................................................                0
Loans to individuals for household
 family and other personal expenditures .......................            1,000
                                                                         -------
Total .........................................................          $61,000
                                                                         -------
Less Recoveries:
 Commercial, financial and industrial .........................           21,000
 Real estate loans
 Commercial (secured by real estate) ..........................                0
 Construction and land development ............................                0
 Residential ..................................................                0
Loans to individuals for household
 family and other personal expenditures .......................            9,000
Lease financing receivables ...................................                0
                                                                         -------
Total .........................................................           30,000
                                                                         -------
Net Charge-Offs ...............................................          $31,000
                                                                         =======
<PAGE>

ALLOCATION OF THE ALLOWANCE FOR LOAN LOSSES

                                                          1995 REPORTED PERIOD
                                                          --------------------
                                                                   % Of Loans In
Balance at End of                                                  Each Category
Period Applicable to:                                    Amount   To Total Loans
                                                       ---------- --------------

Domestic:
 Commercial, Financial and Industrial ............     $  277,000      24.8%
 Real Estate-Construction ........................        280,000      25.1%
 Real Estate-Mortgage ............................        478,000      42.8%
 Installment .....................................         81,000       7.3%
                                                       ----------      -----
Total ............................................     $1,116,000      100.0%
                                                       ==========      =====



Non-Interest Income

Total  non-interest  income for the first nine months of 1995 decreased $210,000
or 16.6% over the same  period of 1994.  The  decrease  was  primarily  due to a
decrease  in gains on sales of  securities  and a decrease  in Fee  Income  from
mortgage placement services.


Non-Interest Expense

Total non-interest  expense increased by $330,000 or 5.41% during the first nine
months of 1995 as  compared  to the same  period of 1994.  This  increase is due
primarily to increased salary and employee benefit expenses due to normal salary
increases.

Liquidity

Management of the Company strives to obtain the highest possible  earnings while
maintaining a strong liquidity position. The policy of shorter maturities in the
Bank's  security  portfolio  and the need for cash in Federal Funds Sold to meet
daily cash requirements  continues to be met. Management  continuously  monitors
outstanding  loan  commitments  and  letters of credit  for  funding  needs.  At
September 30, 1995, outstanding loan commitments were $42,114,000 and letters of
credit were $2,801,000.  The measures of solid liquidity practices such as Total
Deposits to Total Assets and Loans to Deposits are monitored  constantly for any
adverse  trends.  Cash flow from  operations  continues  to remain  positive and
Management expects this trend to continue. Cash flow from investing was negative
as there was an increase in net loans made to customers coupled with an increase
in the purchase of  Investment  Securities  compared to proceeds  from sales and
maturities of Investment  Securities.  Cash flow from  financing  activities was
positive due to the  increase in  deposits.  This trend is expected to continue.
Management  believes that liquidity will remain strong in both the near-term and
the long-term.


Capital Resources

In September 1995, the Company began  construction on a two-story  17,000 square
foot office  complex  located  adjacent to its  corporate  headquarters  site at
Spring  Mountain  Road and  Arville.  In the  third  quarter  of 1995,  the Bank
purchased approximately 4.36 acres of land in the Northwest Las Vegas area for a
new branch location to open in the third or fourth quarter of 1996. In addition,
the Bank is exploring the  possibility  of opening a second new branch office in
1996.  This would make a total of six branches in the Las Vegas Valley area. The
impact on  capital  is not  significant  to date and is not  expected  to impede
operations.

At September 30, 1995,  the Bank's Tier 1 Core Capital to risk  weighted  assets
was 17.83%,  Total Capital to risk  weighted  assets was 18.76% and the leverage
ratio was 9.47%,  all above the current  minimum  guidelines  of 4.0%,  8.0% and
4.0%, respectively, established by regulatory authorities.

The Federal  Deposit  Insurance  Corporation  Improvement  Act of 1991  (FDICIA)
defines  five levels of capital for  financial  institutions:  Well-capitalized,
Adequately  capitalized,  Undercapitalized,  Significantly  undercapitalized and
Critically undercapitalized.  A bank falls into one of these levels based on its
risk-based ratio and leverage ratio. At September 30, 1995, the Bank fell in the
Well-capitalized category.

<PAGE>


                                   SIGNATURES

Pursuant to the  requirement  of the  Securities  and Exchange Act of 1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                            AMERICAN BANCORP OF NEVADA




DATED: November 14, 1995                          /s/ James V. Bradham
                                                  ------------------------------
                                                                James V. Bradham
                                                                   President and
                                                         Chief Executive Officer


DATED:  November 14, 1995                        /s/ Patricia L. Kirkwood
                                                 -------------------------------
                                                            Patricia L. Kirkwood
                                                       Executive Vice President/
                                                                         Cashier