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, 1996.
                                       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 Identification No.)
 incorporation or organization)

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, 1996:

Common stock, $.05 par value                                    3,702,674
-----------------------------------------------------------------------------
          Class                                              Number of Shares

<PAGE>


                                      INDEX



PART I - FINANCIAL INFORMATION                                          PAGE NO.
------------------------------                                          --------

Condensed Consolidated Statements of Income
   Nine Months and Quarters ended September 30, 1996 and 1995 

Condensed Consolidated Statements of Condition
   September 30, 1996 and December 31, 1995 

Condensed Consolidated Statements of Cash Flows
   Nine Months ended September 30, 1996 and 1995 

Notes to Condensed Consolidated Financial Statements 

Management's Discussion and Analysis of Financial
   Condition and Results of Operations    


PART II - OTHER INFORMATION

Signatures  



<PAGE>


PART I - FINANCIAL INFORMATION

                   AMERICAN BANCORP OF NEVADA AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
           NINE MONTHS AND QUARTERS ENDED SEPTEMBER 30, 1996 AND 1995
              (Dollars in thousands except for earnings per share)
                                   (Unaudited)
<TABLE>


                                            For the Nine               For the
                                            Months Ended            Quarter Ended
                                            September 30,           September 30,
                                         --------------------    --------------------
                                          1996        1995        1996        1995
                                         --------    --------    --------    --------
<S>                                      <C>         <C>         <C>         <C>
INTEREST INCOME
     Interest and Fees on Loans ......   $  8,954    $  8,601    $  3,261    $  3,042
     Interest on Securities ..........      5,490       5,535       1,798       1,981
     Interest on Federal Funds Sold ..        285         315          88          95
                                         --------    --------    --------    --------
     Total Interest Income ...........   $ 14,729    $ 14,451    $  5,147    $  5,118
                                         --------    --------    --------    --------

INTEREST EXPENSE
     Interest on Deposits ............      3,249       3,798       1,092       1,352
     Interest on Securities Sold Under
       Agreements to Repurchase ......        993         712         332         306
                                         --------    --------    --------    --------
     Total Interest Expense ..........      4,242       4,510       1,424       1,658
                                         --------    --------    --------    --------

NET INTEREST INCOME ..................     10,487       9,941       3,723       3,460

     Provision for Loan Losses .......       (275)       (420)       (125)       (150)
                                         --------    --------    --------    --------

NET INTEREST INCOME AFTER PROVISION
     FOR LOAN LOSS ...................     10,212       9,521       3,598       3,310

TOTAL NON-INTEREST INCOME: ...........      1,371       1,055         374         305

TOTAL NON-INTEREST EXPENSE: ..........      6,691       6,426       2,274       2,147
                                         --------    --------    --------    --------

INCOME BEFORE TAXES ..................      4,892       4,150       1,698       1,468

PROVISION FOR INCOME TAXES ...........     (1,397)     (1,071)       (445)       (340)
                                         --------    --------    --------    --------
NET INCOME ...........................   $  3,495    $  3,079    $  1,253    $  1,128
                                         ========    ========    ========    ========

NET INCOME PER SHARE .................   $    .92    $    .82    $    .33    $    .30
                                         ========    ========    ========    ========

</TABLE>

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


                 AMERICAN BANCORP OF NEVADA AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CONDITION
                    SEPTEMBER 30, 1996 AND DECEMBER 31, 1995
                             (Dollars in Thousands)


                                                      September 30, December 31,
                                                          1996         1995
--------------------------------------------------------------------------------
                                                       (Unaudited)
ASSETS

Cash and Due From Banks ............................... $  26,759    $  36,376
Federal Funds Sold ....................................         0        9,500
Money Market Accounts .................................       863        3,697
                                                        ---------    ---------
     Total Cash and Cash Equivalents ..................    27,622       49,573

Available-for-sale Securities .........................   119,840      120,589
Net Loans .............................................   118,034       93,244
Premises and Fixed Assets, Net ........................    12,053       10,510
Other Assets ..........................................     4,218        2,775
------------------------------------------------------- ---------    ---------

TOTAL ASSETS .......................................... $ 281,767    $ 276,691
                                                        =========    =========


LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES

Deposits .............................................. $ 210,870    $ 211,524
Securities Sold Under Agreements to Repurchase ........    36,093       36,749
Federal Funds Purchased ...............................     4,000            0
Other Liabilities .....................................     1,085        1,529
                                                        ---------    ---------
Total Liabilities .....................................   252,048      249,802
                                                        ---------    ---------

STOCKHOLDERS' EQUITY

Common Stock ..........................................       186          162
Surplus ...............................................    28,200       20,420
Retained Earnings .....................................     1,882        6,156
Unrealized Gain (Loss) on Available-for-sale Securities      (438)         284
                                                        ---------    ---------
                                                           29,830       27,022
Less Treasury Stock, at Cost ..........................      (111)        (133)
                                                        ---------    ---------

Total Stockholders' Equity ............................    29,719       26,889
                                                        ---------    ---------

TOTAL LIABILITIES AND
   STOCKHOLDERS' EQUITY ............................... $ 281,767    $ 276,691
                                                        =========    =========

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, 1996 AND 1995
                             (Dollars in Thousands)
                                   (Unaudited)

                                                            Nine Months Ended
                                                              September 30,
                                                          ----------------------
                                                             1996        1995
--------------------------------------------------------------------------------

CASH FLOWS FROM OPERATING ACTIVITIES:
Interest received ....................................    $ 15,184     $ 13,778
Other income .........................................       1,035        1,007
Interest paid ........................................      (4,265)      (4,482)
Cash paid to suppliers and employees .................      (6,446)      (5,619)
Income taxes paid ....................................      (1,717)        (928)
                                                          --------     --------
Net cash provided by operating activities ............       3,791        3,756
                                                          --------     --------

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sales and maturities of securities .....      64,381       51,867
Purchase of securities ...............................     (64,524)     (57,019)
Net increase in loans made to customers ..............     (26,268)     (20,169)
Capital expenditures .................................      (2,079)      (1,210)
                                                          --------     --------
Net cash used in investing activities ................     (28,490)     (26,531)
                                                          --------     --------

CASH FLOWS FROM FINANCING ACTIVITIES:

Net increase (decrease) in deposits ..................        (654)      13,546
Net increase (decrease) in securities sold under
     agreements to repurchase ........................        (655)      19,840
Net increase in federal funds purchased ..............       4,000            0
Other ................................................          57           65
                                                          --------     --------
Net cash provided by financing activities ............       2,748       33,451
                                                          --------     --------

NET INCREASE (DECREASE) IN CASH AND CASH .............     (21,951)      10,676
    EQUIVALENTS

CASH AND CASH EQUIVALENTS AT JANUARY 1 ...............      49,573       22,216
                                                          --------     --------

CASH AND CASH EQUIVALENTS AT SEPTEMBER 30 ............    $ 27,622     $ 32,892
                                                          ========     ========

(Continued)

<PAGE>

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

                                                               Nine Months Ended
                                                                 September 30,
                                                               -----------------
                                                                1996       1995
--------------------------------------------------------------------------------

RECONCILIATION OF NET INCOME TO NET
     CASH PROVIDED BY OPERATING ACTIVITIES:

Net income .................................................  $ 3,495   $ 3,079
Adjustments to reconcile net income to
     net cash provided by operating activities:
     Depreciation and amortization of property and equipment      536       495
     Amortization of security premiums and accretion
         of discounts ......................................      127      (153)
     Provision for loan losses .............................      275       420
     Change in deferred loan fees ..........................      364       (22)
     Loss (Gain) on sale of securities .....................     (330)       20
     Increase in other assets ..............................     (232)     (596)
     Increase (decrease) in other liabilities ..............     (444)      513
                                                              -------   -------

NET CASH PROVIDED BY OPERATING ACTIVITIES ..................  $ 3,791   $ 3,756
                                                              =======   =======

SUPPLEMENTAL SCHEDULE OF NON-CASH
     INVESTING AND FINANCING ACTIVITIES:

Issuance of common stock dividend ..........................  $    24   $     0
                                                              =======   =======

Conversion of loans to other real estate owned .............  $   839   $     0
                                                              =======   =======

Issuance of common stock split .............................  $     0   $     0
                                                              =======   =======

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, 1996
                                   (Unaudited)



NOTE A - PRINCIPLES OF CONSOLIDATION

The  condensed  consolidated  financial  statements  include the parent  holding
company,  American  Bancorp  of  Nevada,  ("Company"),   and  its  wholly  owned
subsidiaries,  American Bank of Commerce  ("Bank"),  AmBank Mortgage Company and
AmBank Financial Company.

Material intercompany balances and transactions have been eliminated.

NOTE B - BASIS OF PRESENTATION

In the  opinion  of  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, 1996, 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,  3,805,842 and 3,748,458 for September
30, 1996 and 1995 respectively.

The weighted  average number of common  shares,  common shares  outstanding  and
earnings  per share are  adjusted  to reflect a 15% stock  dividend  declared on
March 18, 1996, to stockholders of record as of April 2, 1996.

NOTE D -  ACCOUNTING  PRONOUNCEMENTS  

Effective  January  1,  1996,  the  Company  adopted  FASB  Statement  No.  121,
Accounting for the Impairment of Long-Lived  Assets and for Long-Lived Assets to
be Disposed of.  Statement  No. 121  establishes  accounting  standards  for the
impairment of long-lived assets, certain identifiable intangibles,  and goodwill
related to those  assets to be held used and for  long-lived  assets and certain
identifiable  intangibles to be disposed of. There was no material effect on the
consolidated financial statements relating to this adoption.

Effective  January  1,  1996,  the  Company  adopted  FASB  Statement  No.  123,
Accounting for Stock-Based Compensation. Statement No. 123 establishes financial
accounting and reporting standards for stock-based employee  compensation plans,
such as stock options and stock purchase plans. The statement generally suggests
but does not require stock-based  compensation  transactions to be accounted for
based on the fair value of the  consideration  received or the fair value of the
equity instruments issued, whichever is more reliably measurable. Companies that
do not  elect to  change  their  accounting  for  stock-based  compensation  are
required to disclose  the effect on net income and  earnings per share as if the
accounting provisions of Statement No. 123 were applied. The Company has decided
not to adopt the accounting provisions of this statement.

<PAGE>


ITEM II

                   AMERICAN BANCORP OF NEVADA AND SUBSIDIARIES

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



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.


Nine Months ended September 30, 1996

Asset Growth

Total assets increased $5,076,000 or 1.83% during the first nine months of 1996.
The primary  element of this growth was a $24,790,000 or 26.59%  increase in net
loans. Premises and fixed assets increased $1,543,000 or 14.68% during the first
six months due to branch and office development activities.  Additionally, other
assets  increased  $1,443,000  or 52.0% when  compared  to  December  31,  1995,
primarily  due to the  reclassification  of certain  loans to other real  estate
owned.  These  increases  were  offset  by  a  decrease  in   available-for-sale
securities  of  approximately  $749,000 or .62% due  primarily  to market  value
adjustments.  Cash and cash equivalents decreased  approximately  $21,951,000 or
44.28%.  Asset growth was driven primarily by earnings for the nine month period
as well as an  increase  in federal  funds  purchased.  Net loans of the Company
continue  to  grow as a  result  of the  Bank's  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  $278,000 or 1.92% during the first nine months
of 1996 when compared to the same period of 1995, and increased  $29,000 or .57%
for the quarter ended September 30, 1996. It is anticipated that interest income
will  continue to grow through the  remainder of the year based upon the overall
growth of the Company's loan portfolio. Total interest income is composed of the
following categories:

Interest and Fees on Loans:  Interest and fee income increased $353,000 or 4.10%
during the first nine  months of 1996 as compared to the same period of 1995 and
increased  $219,000 or 7.20% for the  quarter  ended  September  30,  1996.  The
increase in  year-to-date  earnings is  attributable  to a $402,000  increase in
interest  income  offset by a $49,000  decrease in fee income.  The  increase in
interest  income is due  primarily  to an  increase  in average  loan  volume of
approximately  $12,306,000  to  $100,695,000.  The  yield on the loan  portfolio
decreased  .82%  to  10.29%.  The  interest  differential   resulting  from  the
fluctuations  in volume and yield is  approximately  $1,026,000 and  ($624,000),
respectively. The quarter-to-date increase is composed of a $202,000 increase in
interest income and a $17,000  increase in fee income.  The increase in interest
income  is  due  primarily  to  an  increase  in  the  average  loan  volume  of
approximately  $16,066,000  to  $110,572,000.  The  quarterly  yield on the loan
portfolio decreased .88% to 10.17%. The interest differential resulting from the
fluctuations  in volume  and yield is  approximately  $444,000  and  ($242,000),
respectively.

Interest  on  Securities:  The Bank  continues  to invest  its  excess  funds in
interest bearing securities. Interest on securities decreased $45,000 during the
nine months ended  September 30, 1996 compared with the same period of the prior
year. This decrease was a result of a decrease in the yield from 5.89% to 5.79%,
offset  by an  increase  of  approximately  $965,000  in the  average  volume of
investments to  $126,341,000.  The tax equivalent  yield decreased from 6.31% to
6.14%.  Comparing the quarter ended  September 30, 1996 with September 30, 1995,
interest income  decreased  $183,000 or 9.24%.  This decrease is the result of a
decrease in the  average  volume of  approximately  $8,206,000  to  $124,480,000
coupled  with a decrease  in the yield from 5.97% to 5.78%.  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  factors  when  evaluating  investment
strategies and asset liability management.

Interest on Federal Funds Sold:  Interest earned on federal funds sold decreased
$30,000  or 9.52%  during  the first nine  months of 1996  compared  to the same
period of the prior  year.  This  decrease  was due  primarily  to a decrease of
approximately $14,000 in the average volume to $7,274,000 coupled with a decline
in the average yield from 5.76% in 1995 to 5.22% in 1996. Comparing the quarters
ended  September  30,  interest  decreased  $7,000 or 7.37%.  This  decrease  is
attributable to a decrease in the yield of .43% to 5.26%,  offset by an increase
of approximately $14,000 in average volume to $6,688,000.
<PAGE>


Interest Expense

Total interest expense decreased  $268,000 or 5.94% during the first nine months
of 1996 as  compared  to the first nine  months of 1995.  Interest  on  deposits
decreased  $549,000  or 14.45%  due to a decrease  in the  average  balances  of
interest bearing accounts by $11,841,000 to $117,019,000.  The average rate paid
on  interest  bearing  deposits  decreased  from 3.93% in 1995 to 3.70% in 1996.
Comparing the quarter ended September 30, 1996 with the same period of the prior
year,  interest on deposits decreased  $260,000 or 19.23%.  This decrease is the
result of a decrease  in the  average  volume of  approximately  $13,943,000  to
$118,185,000.  Additionally,  the average rate paid on deposits decreased from a
4.09% in 1995 to 3.70% in 1996.

Interest on securities sold under agreements to repurchase increased $281,000 or
39.47% for the nine month period ended  September 30, 1996 as the average volume
increased approximately $13,865,000 to $36,199,000.  This increase in volume was
offset by a decrease in the average  rate from 4.25% during 1995 to 3.66% during
1996. Comparing the quarter ended September 30, 1996 with the same period of the
prior year,  interest  paid on  securities  sold under  agreements to repurchase
increased  $26,000 or 8.50%.  This  increase is the result of an increase in the
average volume of approximately $8,556,000 to $37,067,000.  The average rate for
the quarter ended September 30, decreased from 4.29% in 1995 to 3.58% in 1996.

Interest Rate Risk

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

Loans:  Approximately  92%  of  the  Bank's  loan  portfolio  is  written  on an
adjustable  basis that  floats with the Bank's  base rate.  Thus,  approximately
$109,854,000 reprices immediately upon a change in the base rate.

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  approximately  2  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, 1996,  approximately  38% of
time deposits 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 46.27% of total
deposits, provides management the opportunity to maintain favorable net interest
margins under most normal interest rate scenarios.

Loans

The composition of the Company's loan portfolio is as follows:

                                                      September 30     December
                                                         1996            1995
                                                       ---------      ----------
Real Estate Loans:
     Construction ................................     $  20,450      $  15,114
     Residential .................................        12,121         10,643
     Commercial ..................................        45,946         34,627
                                                       ---------      ---------
Total Real Estate Loans ..........................        78,517         60,384

Commercial, financial and industrial loans .......        31,555         24,876
Commercial receivables financing .................         3,448          2,397
Loans to individuals .............................         6,761          7,340
Less unearned net loan fees ......................          (874)          (510)
                                                       ---------      ---------
Total Loans ......................................     $ 119,407      $  94,487
                                                       =========      =========
<PAGE>

Maturities and Sensitivity of Loans to Changes in Interest Rates

The following  table shows the balances of commercial,  financial and industrial
loans and real estate-construction loans outstanding as of September 30, 1996 by
maturities, based on remaining scheduled repayments of principal. Also shown are
the balance of loans due after one year,  classified according to sensitivity to
changes in interest rates.

                                    MATURITY

                                                  One
                                     One Year   Through      After
                                     or Less   Five Years  Five Years     Total
                                     -------   ----------  ----------    -------

Commercial, Financial
     and Industrial ............     $21,421     $ 9,415     $   719     $31,555

Real estate-Construction .......      20,157         293           0      20,450
                                     -------     -------     -------     -------
Total ..........................     $41,578     $ 9,708     $   719     $52,005
                                     =======     =======     =======     =======

The maturity of certain loans may vary due to the Bank's  rollover  policy.  The
Bank will  consider  extending  the  maturity of a loan upon  receipt of current
financial  information  and  evaluation of the loan  performance,  the financial
performance  of the  business,  and  overall  economic  conditions.  Loans  with
maturities so affected have been revised as appropriate in the above table.

                              INTEREST SENSITIVITY

The following  table  represents the total amount of  commercial,  financial and
industrial loans and real estate-construction loans due after one year which (a)
have predetermined  interest rates and (b) have floating or adjustable  interest
rates.

Loans Due After One Year

Fixed or Predetermined Rate ................................             $   850
Floating or Adjustable Rate ................................               9,577
                                                                         -------
Total ......................................................             $10,427
                                                                         =======

Provision for Loan Loss

The provision  for loan losses  during the nine months ended  September 30, 1996
was $275,000 as compared to $420,000 for the same period of the prior year.  The
allowance  for loan losses  stands at 1.15% of total loans at September 30, 1996
compared  to 1.16% at  September  30,  1995.  Management  believes  the  current
allowance  is adequate to satisfy any  unanticipated  loan losses based upon the
historical performance of the loan portfolio.

Net charged off loans and leases were approximately $145,000 and $31,000 for the
nine months ended September 30, 1996 and 1995 respectively.

At September 30, 1996, two loans totaling  approximately $900,000 were accounted
for on a non-accrual basis.  Approximately $18,000 of interest income would have
been  recorded  during the three months ended  September  30, 1996 had the loans
been current in  accordance  with the  original  terms.  Additionally,  one loan
totaling  approximately $27,000 was contractually past due 90 days or more as to
principal  or  interest.   No  loans  were   accounted  for  as  "troubled  debt
restructurings"  as  defined in SFAS No.  15.  Loans are  placed on  non-accrual
status when they go over 90 days delinquent, or when circumstances indicate that
timely collection of interest is doubtful.  Loans over 90 days delinquent may be
left on accrual  status if a repayment  plan has been  negotiated and it appears
likely that all interest will be paid.  In addition,  all  significant  impaired
loans have been  evaluated in accordance  with FASB Statement No. 114 as amended
by FASB Statement No. 118.

The Company had  approximately  $839,000 in other real estate owned  ("REO") and
related  development costs at September 30, 1996. This property consists of four
single family  residences and was acquired through  foreclosure.  The units were
approximately 90-95% complete at the time of foreclosure.  At September 30, 1996
the residences are complete and listed for sale on the retail market.  Appraisal
values are approximately $260,000 per unit,  representing a book-to-market ratio
of approximately 81%. Subsequent to September 30, 1996, one home was sold on the
open market for  approximately  $220,000.  Due to the favorable  location of the
units,  and the current strong market for homes in this price range, the Company
fully expects to recover the remaining principal balance.
<PAGE>

As of September  30, 1996,  there are no other loans  outstanding,  which causes
management  to have  serious  doubts as to the ability of the borrower to comply
with the loan repayment terms.

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  reviews the loan loss analysis on a quarterly basis. A percentage of
the  allowance is allocated to pass  credits,  substandard,  doubtful,  loss and
accounts  receivable  factoring.  Management  believes the current  allowance of
$1,373,000 is adequate and there is sufficient  unallocated  allowance to handle
any unexpected problems within the portfolio.

The table below details changes in allowance for loan losses:

                                                         Nine Months Ended
                                                           September 30,
                                                    ----------------------------
                                                        1996            1995
--------------------------------------------------------------------------------

Balance, beginning .............................    $ 1,243,000     $   727,000
     Provision charged to operating expense ....        275,000         420,000
     Recoveries of amounts charged off .........          5,000          30,000
     Less amounts charged off ..................       (150,000)        (61,000)
                                                    -----------     -----------
Balance, ending ................................    $ 1,373,000     $ 1,116,000
                                                    ===========     ===========

The schedule below shows the major categories of loan charge-offs and recoveries
for the nine months ended September 30, 1996 and 1995:

NET CHARGE-OFFS                                            1996           1995
--------------------------------------------------------------------------------
Charge-Offs:
     Real estate loans
         Construction ..............................      $      0      $      0
         Residential ...............................             0             0
         Commercial ................................             0             0
     Commercial, financial and industrial ..........       150,000        60,000
     Commercial receivables financing ..............             0             0
     Loans to individuals ..........................             0         1,000
                                                          --------      --------
     Total .........................................       150,000        61,000
                                                          --------      --------

Less Recoveries:
     Real estate loans
         Construction ..............................      $      0      $      0
         Residential ...............................             0             0
         Commercial ................................             0             0
     Commercial, financial and industrial ..........         4,000        21,000
     Commercial receivables financing ..............             0             0
     Loans to individuals ..........................         1,000         9,000
                                                          --------      --------
     Total .........................................         5,000        30,000
                                                          --------      --------

Net Charge-Offs ....................................      $145,000      $ 31,000
                                                          ========      ========


<PAGE>

The table below  details the  allocation  by loan type of the allowance for loan
losses at September 30, 1996:

                                                          Amount      Percentage
                                                        ----------    ----------
Real estate loans
     Construction ...............................       $   40,000         2.92%
     Residential ................................           10,000          .73%
     Commercial .................................           96,000         6.99%
Commercial, financial and industrial ............          975,000        71.01%
Commercial receivables financing ................          152,000        11.07%
Loans to individuals ............................          100,000         7.28%
                                                        ----------       -------
Total ...........................................       $1,373,000       100.00%
                                                        ==========       =======

Non-Interest Income

Total non-interest  income for the first nine months of 1996 increased $316,000,
or 29.95%,  over the same period of 1995.  The  increase  was  primarily  due to
recorded gains on sales of securities.

Non-Interest Expense

Total  non-interest  expense increased by $265,000,  or 4.12%,  during the first
nine months of 1996 as compared to the first nine months of 1995.  This increase
is due primarily to increased salary and employee benefit expenses due to normal
salary increases and staff additions.

Liquidity

Management of the Company strives to obtain the highest possible  earnings while
maintaining  a sound  liquidity  position.  The  Company's  primary  sources  of
liquidity are its  investment  portfolio  and federal funds sold.  The Company's
investment portfolio had an average balance of approximately $126,341,000 during
the nine months ended September 30, 1996 and an average life of  approximately 2
years.  Federal  funds  sold  maintained  an average  balance  of  approximately
$7,274,000  during the nine months  ended  September  30,  1996.  The  Company's
liquidity  position is further  enhanced by its core  deposits  which  represent
approximately  85% of total  deposits at September 30, 1996. The Bank avoids the
use of highly sensitive  short-term funds such as brokered deposits and believes
its deposits  represent funding sources with safety in respect to both liquidity
and  earnings.  The  Company  continues  to meet the cash flow  requirements  of
customers  who are  depositors  desiring  to  withdraw  funds  and of  borrowers
requiring assurance that sufficient funds will be available to meet their credit
needs. The measures of solid liquidity practices such as Total Deposits to Total
Assets and Loans to Deposits are monitored constantly for any adverse trends.

Historically,  the Bank's  loan to deposit  ratio has been low when  compared to
industry norms and  conversely,  its liquidity ratio has been high. At September
30, 1996, the net loan to deposit ratio was approximately  55.97%. The liquidity
ratio, which is comprised of cash,  federal funds sold and unpledged  securities
as a percent of total demand deposits stood at approximately 40.66% at September
30, 1996.  Management  continuously  monitors  outstanding  loan commitments and
letters of credit for funding  needs.  At September 30, 1996,  outstanding  loan
commitments and letters of credit were approximately  $54,838,000 and $2,350,000
respectively.

Net cash flow  provided by operating  activities  remains  positive for the nine
months ended September 30, 1996 primarily due to favorable  interest rate yields
and continued  growth in the loan  portfolio.  Management  expects this trend to
continue.  Cash flows from investing activities was negative for the nine months
ended  September  30,  1996,  primarily  due to the funding of loans and capital
expenditures.  Cash flows from  financing  activities  was positive for the nine
months ended  September 30, 1996,  primarily due to an increase in federal funds
purchased,  which was  partially  offset by a decrease  in demand  deposits  and
securities sold under agreements to repurchase.
<PAGE>

Capital Resources

On March 18, 1996,  the Board of Directors  declared a 15% stock  dividend to be
issued on April 19,  1996 to  shareholders  of  record on April 2,  1996.  Stock
dividends have no effect on total capital.  Stockholders'  equity  (exclusive of
the net unrealized  gain/loss of securities  available for sale) as a percentage
of total assets was  approximately  10.70% at September  30, 1996 as compared to
9.62% at December 31, 1995.

As of September 30, 1996, the Company has completed  construction on a two-story
17,000 square foot office complex located adjacent to its corporate headquarters
site at Spring  Mountain  Road and Arville.  The building  offers  approximately
13,000  square feet of class "A" office  space.  As of September  30, 1996,  the
Company has finalized  lease  agreements  with tenants for  approximately  5,200
square feet and  negotiations  to rent the  remainder  are  ongoing.  Management
anticipates  having the building  fully occupied by the end of the current year.
Construction of this facility was funded by cash flow from operations and had no
significant impact on capital.

The Bank's newest branch located in the  industrial  area of North Las Vegas was
officially open as of August 7, 1996 and is now serving customers located within
that area.  The Bank now has a total of five branches  throughout  the Las Vegas
area. Construction of the branch was funded by cash flow from operations and had
no significant impact on capital.

At September 30, 1996,  the Bank's Tier 1 Core Capital to risk  weighted  assets
was 17.07%,  Total Capital to risk  weighted  assets was 17.89% and the leverage
ratio was 10.18%,  all above the current  minimum  guidelines of 4.0%,  8.0% and
4.0%,  respectively,  as established and defined by regulatory authorities.  The
Company's capital ratios are parallel to the Bank's.

In addition,  the Federal Deposit Insurance Corporation  Improvement Act of 1991
(FDICIA)   defined   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, 1996,
the Bank falls in the Well-capitalized category.

<PAGE>

PART II - OTHER INFORMATION




                                   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 7, 1996                  /S/ James V. Bradham
      --------------------                --------------------------------------
                                          James V. Bradham
                                          President and Chief Executive Officer



DATED:   November 7, 1996                 /S/ Patricia L. Kirkwood
      --------------------                --------------------------------------
                                          Patricia L. Kirkwood
                                          Executive Vice President/Cashier