<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                   FORM 10-K

       Annual Report Pursuant to Section 13 or 15(d) of the Securities
                            Exchange Act of 1934

For the Fiscal Year Ended December 31, 1996       Commission File Number 0-11928

                           AMERICAN BANCORP, INC.
           (Exact name of registrant as specified in its charter)

            Louisiana                                    72-0951347
   (State or other jurisdiction of          (I.R.S. Employer Identification No.)
   incorporation or organization)

         328 East Landry Street
          Opelousas, Louisiana                                 70570
(Address of principal executive offices)                     (Zip Code)

Registrant's Telephone Number, including area code: (318) 948-3056

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:
                         Common Stock, $5.00 Par Value
                                (Title of Class)

Indicate by check mark whether the registrant: (l) has filed all reports
required to be filed by Section 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 by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. [ ]

The aggregate market value of the voting stock held by non-affiliates* of the
registrant:  $1,752,050

The number of shares outstanding of each of the issuer's classes of common
stock, as of December 31, 1996:  Common Stock, $5.00 Par Value, 120,000 shares
outstanding.

                     Documents Incorporated by Reference

Portions of the annual shareholders' report for the year ended December 31,
1996 are incorporated by reference into Parts I and II.

Portions of the proxy statement for the annual shareholders meeting to be held
April 9, 1997 are incorporated by reference into Part III.

       *For purposes of the computation, shares owned by executive officers,
directors, 5% shareholders and shares by non-affiliates whose voting rights
have been assigned to directors have been excluded.



                                     - 1 -
<PAGE>   2
                                     PART I

Item 1.  Business

       American Bancorp, Inc. (the Corporation) was incorporated under the laws
of the State of Louisiana in 1982. On October 1, 1983, American Bank and Trust
Company (the Bank) was reorganized as a subsidiary of the Corporation. Prior to
October 1, 1983, the Corporation had no material activity. The Corporation is
currently engaged, through its subsidiary, in banking and related business. The
Bank is the Corporation's principal asset and primary source of revenue.

The Bank

       The Bank, incorporated under the State Banking Laws on August 1, 1958 is
in the business of gathering funds by accepting checking, savings, and other
time-deposit accounts and reemploying these by making loans and investing in
securities and other interest-bearing assets. The Bank is a full service
commercial bank. Some of the major services which it provides include checking,
NOW accounts, Money Market checking, savings, and other time deposits of
various types, loans for business, agriculture, real estate, personal use, home
improvement, automobile, and a variety of other types of loans and services
including letters of credit, safe deposit boxes, bank money orders, wire
transfer facilities, and electronic banking facilities.

       The State of Louisiana, through its various departments and agencies,
deposits public funds with the Bank. As of December 31, 1996, $297,000 in
certificates of deposit were on deposit representing .50% of total deposits
outstanding.  The weighted average interest rates on these deposits was 6.0%.
The maturity of these deposits is December 18, 1997.

       The Bank's general market area is in St. Landry Parish, which has a
population of approximately 80,300. Its primary market is Opelousas, which has
a population of approximately 19,300, and has experienced little population
growth over the past several years.

       The commercial banking business in St. Landry Parish is highly
competitive. The Depository Institutions Deregulation and Monetary Control Act
of 1980 and the Garn-St. Germain Depository Institutions Act of 1982 have
eliminated most, if not all, substantive distinctions between the services of
commercial banks and thrift institutions.  The Bank competes with three banks
and two savings and loan institutions located in St. Landry Parish. The
following is a list of banks and savings associations in this market with the
total deposits and assets as of December 31, 1996.

<TABLE>
<CAPTION>
                                                (In thousands of dollars)
                                               Assets              Deposits
                                             ---------            ---------
<S>                                          <C>                  <C>
American Bank and Trust Company              $  67,254            $  59,367
St. Landry Bank and Trust Company            $ 209,613            $ 177,779
First National Bank of Lafayette             $ 802,654            $ 688,836
St. Landry Homestead                         $ 113,800            $ 102,638
Washington State Bank                        $  71,895            $  61,447
First Federal Savings & Loan                 $  57,641            $  43,676
</TABLE>                                    





                                     - 2 -
<PAGE>   3
Item 1.  Business (continued)

       In addition to the institutions listed above, further competition is
provided by banks and other financial institutions located in Lafayette,
Louisiana, which is 20 miles south of Opelousas and Baton Rouge, Louisiana, the
state capital, which is 60 miles east of St. Landry Parish.

       Louisiana Banking Law provides that generally Louisiana banks having
capital of one hundred thousand dollars or more may open one or more branch
offices within the State or may acquire one or more banks or any or all
branches thereof, or both. On July 2, 1986, Louisiana passed an interstate
banking law affirmatively permitting Louisiana bank holding companies to
immediately acquire out-of-state bank holding companies and banks. On July 1,
1987, bank holding companies located in a fifteen state region were permitted
to acquire banks or bank holding companies in Louisiana, and beginning January
1, 1991, out-of-state bank holding companies may acquire banks or bank holding
companies provided that the law of the state in which the out-of-state bank
holding company has its principal place of business permits Louisiana bank
holding companies to acquire banks and bank holding companies in that state.

       The effect of the new liberalized branching laws and the Louisiana
Interstate Banking Law on the Company cannot be predicted at this time, but
increased competition is expected.

Employees

       During 1996, the average number of full-time equivalent employees at the
Bank was  44. This includes the officers of the Corporation that are listed
under Item 1 below.

       There are no unions or bargaining units that represent the employees of
the Bank. The relation between management and employees is considered to be
good.

Executive Officers

       The executive officers of the Corporation are as follows:

<TABLE>
<CAPTION>
                                       Years of
 Officer Name                           Service              Age              Position Currently Held 
--------------                         --------              ---             -------------------------
<S>                                       <C>                 <C>            <C>
Salvador L. Diesi, Sr.                    23                  66             Chairman of the Board of the
                                                                               Corporation and the Bank;
                                                                               President of the Corporation and the Bank

Ronald J. Lashute                         24                  47             Executive Vice-President and
                                                                               Chief Executive Officer of the
                                                                               Bank and Secretary/Treasurer
                                                                               of the Corporation
</TABLE>





                                     - 3 -
<PAGE>   4
Item 1.  Business (continued)

       None of the directors and executive officers of the Corporation or the
Bank holds a directorship in any company with a class of securities registered
under Section 12 of the Securities Exchange Act of 1934, as amended, or subject
to the requirements of Section 15(d) of that Act or in any company registered
as an investment company under the Investment Company Act of 1940. Salvador L.
Diesi, Sr. and Ronald J. Lashute are  the nephews of J.C. Diesi. No other
family relationships exist among the above named directors or executive
officers of the Corporation.

Supervision and Regulation

       The Bank is subject to regulation and regular examinations by the
Louisiana Commissioner of Financial Institutions and by the Federal Deposit
Insurance Corporation. Applicable regulations relate to reserves, investments,
loans, issuance of securities, establishment of branches, and other aspects of
its operations.

       The Federal Deposit Insurance Corporation Improvement Act of 1991
("FDICIA") further expanded the regulatory and enforcement powers of bank
regulatory agencies. Among the significant provisions of FDICIA is the
requirement that bank regulatory agencies prescribe standards relating to
internal controls, information systems, loan documentation, credit
underwriting, interest rate exposure, asset growth, compensation, fees and
benefits. FDICIA mandates annual examinations of banks by their primary
regulators.

       The Corporation is a bank holding company within the meaning of the Bank
Holding Company Act of 1956, as amended (the Act), and is thereby subject to
the provisions of the Act and to regulation by the Board of Governors of the
Federal Reserve System (the Board).

       The Act requires the Corporation to file with the Board an annual report
containing such information as the Board may require. The Board is authorized
by the Act to examine the Corporation and all of its activities. The activities
that may be engaged in by the Corporation and its subsidiary are limited by the
Act to those so closely related to banking or managing or controlling banks as
to be a proper incident thereto. In determining whether a particular activity
is a proper incident to banking or managing or controlling banks, the Board
must consider whether its performance by an affiliate of a holding company can
reasonably be expected to produce benefits to the public, such as greater
convenience, increased competition or gains in efficiency that outweigh
possible adverse effects, such as undue concentration of resources, decreased
or unfair competition, conflicts of interest, or unsound banking practices.

       The Board has adopted regulations implementing the provisions of the Act
with respect to the non-banking activities of bank holding companies. Such
regulations reflect a determination by the Board that certain specified
activities are permissible for a bank holding company. An activity not listed
in the regulation may be engaged in if, upon application, the Board determines
that the activity meets the criteria described in the preceding paragraph. In
each case, a bank holding company must secure the approval of the Board prior
to engaging in any of these activities.

       Whether or not a particular non-banking activity is permitted under the
Act, the Board is authorized to require a holding company to terminate any
activity, or divest itself of any non-banking subsidiary, if in its judgment
the activity or subsidiaries would be unsound.





                                     - 4 -
<PAGE>   5
Item 1.  Business (continued)


       Under the Act and the Board's regulations, a bank holding company and
its subsidiaries are prohibited from engaging in certain tie-in arrangements in
connection with any extension of credit or provision of any property or
services.

       In some cases, the Company must receive the prior approval of the Board
in order to repurchase or redeem its outstanding equity securities.

       With certain exceptions, the Subsidiary Bank is restricted by Sections
22 and 23A of the Federal Reserve Act from extending credit or making loans to
or investments in the Company and certain other affiliates as defined in the
Federal Reserve Act. Such transactions by the Subsidiary Bank with the Company
or any such affiliate are limited in an amount to 10% of the Subsidiary Bank's
capital and surplus. Furthermore, loans and extensions of credit are subject to
various collateral requirements.

       The Louisiana bank holding company law, as amended (the "Louisiana
Act"), permits bank holding companies to own more than one bank. In addition, a
bank holding company and its subsidiaries may not engage in any insurance
activity in which a bank may not engage. The Louisiana Commissioner of
Financial Institutions is authorized to administer the Louisiana Act and to
issue orders and regulations.

       The Board of Directors of the Corporation have no present plans or
intentions to cause the Corporation to engage in any substantial business
activity which would be permitted to it under the Act or the Louisiana Act but
which is not permitted to the Bank; however, a significant reason for formation
of the one-bank holding company is to take advantage of the additional
flexibility afforded by that structure if the Board of Directors of the
Corporation concludes that such action would be in the best interest of
stockholders.

Statistical Information

       The following tables contain additional information concerning the
business and operations of the Registrant and its subsidiary and should be read
in conjunction with the Consolidated Financial Statements of the Registrant and
Management's Discussion and Analysis of Financial Condition and Results of
Operations. The 1996 Annual Report to Shareholders is incorporated herein by
reference under Item 8.

Investment Portfolio

       The following table sets forth the carrying amount of Investment
Securities at the dates indicated (in thousands of dollars):

<TABLE>
<CAPTION>
                                                          December 31,    
                                            -----------------------------------------
                                              1996             1995            1994  
                                            --------         --------        --------
<S>                                         <C>              <C>             <C>
Securities held to maturity:              
   U.S. Treasury                            $  4,005         $  5,508        $  5,499
   U.S. Government Agencies                   11,513           10,997          10,980
   State and Political subdivisions               -                -               - 
                                            --------         --------        --------
                                            $ 15,518         $ 16,505        $ 16,479
                                            ========         ========        ========
</TABLE>                                  
                                          




                                     - 5 -
<PAGE>   6
Item 1.  Business (continued)

<TABLE>
<CAPTION>                                 
                                                           December 31,    
                                              -----------------------------------------
                                                1996             1995            1994  
                                              --------         --------        --------
<S>                                           <C>              <C>             <C>
Securities available for sale:            
   Mortgage-backed securities                 $  1,787         $  2,342        $  2,637
   U.S. Treasury securities                      1,002               -               -
   U.S. Government Agencies                      3,012            1,536             497
   State and Political subdivisions              2,870            1,263              - 
                                               -------         --------        --------
                                          
                                               $ 8,671         $  5,141        $  3,134
                                               =======         ========        ========
</TABLE>                                  

       The following tables set forth the maturities of investment securities
at December 31, 1996, 1995, and 1994 and the weighted average yields of such
securities (in thousands of dollars):
<TABLE>
<CAPTION>
                                                                December 31, 1996         
                                ----------------------------------------------------------------------------------------        
                                                           After One             After Five
                                                           But Within            But Within              After
                                  Within One Year          Five Years            Ten Years             Ten Years 
                                ------------------     -----------------     ------------------    ------------------
                                 Amount      Yield      Amount     Yield      Amount      Yield     Amount      Yield
                                -------     ------     --------   ------     --------    ------    --------    ------
<S>                             <C>          <C>       <C>         <C>       <C>          <C>        <C>         <C>
Securities held
   to maturities:
      U.S.
         Treasury               $ 1,801      6.15%     $  2,204    5.88%       $   -        - %      $   -        - %
      U.S.
         Government
         Agencies                 4,496      6.64         7,017    6.56            -        -            -        -
      State and
         Political
         Subdivisions                -         -             -       -             -        -            -        -
                                -------                --------              --------                ------          

           Total held
             to
             maturity             6,297      6.50         9,221    6.40           -0-       -           -0-       -
                                -------                --------              --------                ------          

Securities
   available for
   sale:
      U.S. Treasury                  -         -          1,002    6.27            -        -            -        -
      U.S.
         Government
         Agencies                 1,507      7.03         1,505    6.44            -        -            -        -
      Mortgage-backed
         securities                 124      8.24           906    8.20           757     9.14           -        -
      State and
         Political
         Subdivisions                -         -          1,481    7.81         1,389     7.04           -        -
                                -------                --------              --------                ------          

           Total
             available
             for sale             1,631      7.12         4,894    7.15         2,146     7.78          -0-       -
                                -------                --------              --------                ------          

           Total
             securities         $ 7,928      6.63%     $ 14,115    6.67%     $  2,146     7.78%      $  -0-       - %
                                =======     =====      ========   =====      ========    =====       ======      === 
</TABLE>



                                    - 6 -
<PAGE>   7

Item 1.  Business (continued)

<TABLE>
<CAPTION>
                                                                 December 31, 1995         
                                ----------------------------------------------------------------------------------------        
                                                           After One             After Five
                                                           But Within            But Within              After
                                  Within One Year          Five Years            Ten Years             Ten Years 
                                ------------------     -----------------     ------------------    ------------------
                                 Amount      Yield      Amount     Yield      Amount      Yield     Amount      Yield
                                -------     ------     --------   ------     --------    ------    --------    ------
<S>                             <C>          <C>       <C>         <C>       <C>          <C>        <C>         <C>
Securities held
   to maturities:
      U.S.
         Treasury               $ 3,499      6.32%     $  2,009    6.18%       $   -        - %      $   -        - %
      U.S.
         Government
         Agencies                 5,002      5.62         5,495    6.37           500     6.36           -        -
      State and
         Political
         Subdivisions*               -         -             -       -             -        -            -        -
                                -------                --------              --------                ------          

           Total held
             to
             maturity             8,501      5.91         7,504    6.32           500     6.36          -0-       -
                                -------                --------              --------                ------          

Securities
   available for
   sale:
      U.S.
         Government
         Agencies                    -         -          1,536    6.77            -        -            -        -
      Mortgage-backed
         securities                 183      7.92         1,116    8.92         1,043     8.47           -        -
      State and
         Political
         Subdivisions*               -         -            377    7.85           886     6.58           -        -
                                -------                --------              --------                ------          

           Total
             available
             for sale               183      7.92         3,029    7.69         1,929     7.59          -0-       -
                                -------                --------              --------                ------          

           Total
             securities         $ 8,684      5.96%     $ 10,533    6.70%     $  2,429     7.35%      $  -0-       - %
                                =======     =====      ========   =====      ========    =====       ======      === 
</TABLE>



                                    - 7 -
<PAGE>   8
Item 1.  Business (continued)


<TABLE>
<CAPTION>
                                                                 December 31, 1994        
                                ----------------------------------------------------------------------------------------        
                                                           After One             After Five
                                                           But Within            But Within              After
                                  Within One Year          Five Years            Ten Years             Ten Years 
                                ------------------     -----------------     ------------------    ------------------
                                 Amount      Yield      Amount     Yield      Amount      Yield     Amount      Yield
                                -------     ------     --------   ------     --------    ------    --------    ------
<S>                             <C>          <C>       <C>         <C>       <C>          <C>        <C>         <C>
Securities held
   to maturities:
      U.S.
         Treasury               $ 2,000      4.90%     $  3,499    6.16%       $   -        - %      $   -        - %
      U.S.
         Government
         Agencies                    -         -         10,980    6.00            -        -            -        -
      State and
         Political
         Subdivisions*               -         -             -       -             -        -            -        -
                                -------                --------              --------              --------          

                                  2,000      4.90        14,479    6.08           -0-       -           -0-       -
                                -------                --------              --------              --------          


Securities available
   for sale:
      U.S.
         Treasury                    -         -             -       -             -        -            -        -
      U.S.
         Government
         Agencies                    -         -            500    7.87            -        -            -        -
      State and
         Political
         Subdivisions*               -         -             -       -             -        -            -        -
      Mortgage-backed
         securities                  -         -            336    8.81         1,225     8.89        1,073     8.88
                                -------                --------              --------              --------          

                                    -0-        -            836    8.65         1,225     8.89        1,073     8.88
                                -------                --------              --------              --------          

           Total
             securities         $ 2,000      4.90%     $ 15,315    6.22%     $  1,225     8.89%    $  1,073     8.88%
                                =======      ====      ========    ====      ========     ====     ========     ==== 
</TABLE>


* Weighted average yields have been computed on a fully tax-equivalent basis
assuming a rate of 34% for 1996, 1995 and 1994.





                                    - 8 -
<PAGE>   9
Item 1.  Business (continued)

Loan Portfolio

       The amounts of loans outstanding at the indicated dates are shown in the
following table according to type of loan (in thousands of dollars):

<TABLE>
<CAPTION>                               
                                                           December 31,    
                                              -----------------------------------------
                                                1996             1995            1994  
                                              --------         --------        --------
<S>                                           <C>              <C>             <C>
Commercial, financial and agricultural        $  7,437         $  6,240        $  6,543
Real Estate - Construction                         285              119             325
Real Estate - Mortgage                          16,278           16,473          16,119
Installment                                      4,925            4,182           4,681
                                              --------         --------        --------
                                        
    Total                                       28,925           27,014          27,668
                                        
Less:                                   
  Allowance for possible loan losses              (614)            (624)           (614)
  Unearned income                                   -                -               (1)
                                              --------         --------        --------
                                        
                                              $ 28,311         $ 26,390        $ 27,053
                                              ========         ========        ========
</TABLE>                                


       The following table presents information concerning the aggregate amount
of nonperforming loans. Nonperforming loans comprise: (a) loans accounted for
on a nonaccrual basis; (b) loans contractually past due ninety days or more as
to interest or principal payments [but not included in the nonaccrual loans in
(a) above]; (c) other loans whose terms have been restructured to provide a
reduction or deferral of interest or principal because of a deterioration in
the financial position of the borrower [exclusive of loans in (a) or (b)
above]; and (d) loans now current where there are serious doubts as to the
ability of the borrower to comply with present loan requirement terms (in
thousands of dollars):

<TABLE>
<CAPTION>
                                                                December 31,    
                                                   -----------------------------------------
                                                     1996             1995            1994  
                                                   --------         --------        --------
<S>                                                <C>              <C>             <C>
Loans accounted for on a nonaccrual basis            $  496             $  2            $  4
                                              
Restructured loans which are not on           
  non-accrual                                            94              112             133
                                                     ------           ------          ------
                                              
                                                        590              114             137
Other real estate and repossessed assets      
  received in complete or partial             
  satisfaction of loan obligations                       14               14              17
                                                     ------           ------          ------
                                              
  Total nonperforming assets                         $  604           $  128          $  154
                                                     ======           ======          ======
                                              
Loans contractually past due ninety days      
  or more as to principal or interest,        
  but which were not on non-accrual                  $   27           $   10            $  9
                                                     ======           ======            ====
</TABLE>                                      





                                     - 9 -
<PAGE>   10
Item 1.  Business (continued)

       As of January 1, 1995, the Company adopted SFAS No. 114, "Accounting by
Creditors for Impairment of a Loan," which, as it relates to in-substance
foreclosures, requires that a creditor continue to classify these assets as
loans in the balance sheet unless the creditor receives physical possession of
the collateral. The Company had no in-substance foreclosures at the date of
adoption of SFAS No. 114. At December 31, 1996, the recorded investment in
loans that were considered to be impaired under SFAS No. 114 was $476,490, with
the related allowance for loan losses of $170,000. These loans are included in
nonaccrual loans.

       The effect of nonperforming loans on interest income has not been
substantial in the past three years. Had interest been accrued on the
nonperforming loans, interest income would have been recorded in the amount of
$59,177, $13,732 and $13,846, for the years 1996, 1995, and 1994, respectively.
Interest income in the amount of $6,633, $7,638 and $6,707 on nonperforming
loans during 1996, 1995 and 1994, respectively, was recorded.

       At December 31, 1996, 1995 and 1994 there were no significant
commitments to lend additional funds to debtors whose loans were considered to
be nonperforming.

       The Bank places loans on nonaccrual when the borrower is no longer able
to make periodic interest payments due to a deterioration of the borrowers
financial condition.

       At December 31, 1996, the Bank has an insignificant amount of loans for
which payments are current, but the borrowers are experiencing financial
difficulties. These loans are subject to constant management attention, and
their classification is reviewed on a monthly basis.

Summary of Loan Loss Experience

       The following table summarizes loan balances at the end of each period
and average loans based on daily average balances for 1996, 1995, and 1994;
changes in the allowance for possible loan losses arising from loans charged
off and recoveries on loans previously charged off by loan category; and
additions to the allowance which have been charged to expense (in thousands of
dollars):

<TABLE>
<CAPTION>
                                           1996             1995             1994  
                                         --------         --------         --------
<S>                                      <C>              <C>              <C>
Amount of loans outstanding    
  at end of period                       $ 28,926         $ 27,014         $ 27,667
                                         ========         ========         ========
                               
Average amount                           $ 27,635         $ 26,748         $ 26,976
                                         ========         ========         ========
</TABLE>                       





                                    - 10 -
<PAGE>   11
Item 1.  Business (continued)

Allowance for Possible Loan Losses
(In thousands of dollars)

<TABLE>
<CAPTION>                                        
                                                             Year Ended December 31,  
                                                   -----------------------------------------
                                                     1996             1995             1994  
                                                   --------         --------         --------
<S>                                                  <C>              <C>              <C>
Beginning balance                                    $  624           $  614           $  606
Provision charged against income                         -                -                12
                                                     ------           ------           ------
                                                        624              614              618
                                                     ------           ------           ------
Charge-offs:                                     
  Commercial, financial and                      
     agricultural loans                                  -                -                 1
  Real estate mortgage loans                             -                -                13
  Real estate construction loans                         -                -                -
  Installment loans                                      18                6                1
                                                     ------           ------           ------
  Total charge-offs                                      18                6               15
                                                     ------           ------           ------
Recoveries:                                      
  Commercial, financial and agricultural loans            5                8                8
  Real estate mortgage loans                              1               -                -
  Real estate construction loans                         -                -                -
  Installment loans                                       2                8                3
                                                     ------           ------           ------
                                                          8               16               11
                                                     ------           ------           ------
Net charge-offs (recoveries)                             10              (10)               4
                                                     ------           ------           ------
Ending balance                                       $  614           $  624           $  614
                                                     ======           ======           ======
                                                 
Ratio of net charge-offs (recoveries)            
  during the period to average loans             
  outstanding during the period                        .04%             (.04)%           .01%
                                                     ======           ======           ======
</TABLE>                                         


       The allowance for possible loan losses has been allocated according to
the amount deemed to be reasonably necessary to provide for the possibility of
losses being incurred within the following categories of loans at the date
indicated:

Allocation of Allowance for Possible Loan Losses
(In thousands of dollars)

<TABLE>
<CAPTION>
                                           December 31, 1996                   December 31, 1995 
                                  -----------------------------      -----------------------------
                                                     % of Loans                         % of Loans
                                                    Outstanding                        Outstanding
                                                      to Total                           to Total
                                  Allowance            Loans         Allowance            Loans 
                                  ---------           --------       ---------           ---------
<S>                                  <C>             <C>                 <C>             <C>
Commercial, financial and   
  agricultural loans                 $ 201            32.74%             $ 134            21.47%
Real estate construction                 3              .49                  5             0.80
Real estate mortgage loans             146            23.78                400            64.10
Installment loans                      264            42.99                 85            13.63
                                     -----          --------             -----          -------
                            
                                     $ 614           100.00%             $ 624           100.00%
                                     =====          ========             =====          =======
</TABLE>                    



                                     - 11 -
<PAGE>   12
Item 1.  Business (continued)


Allocation of Allowance for Possible Loan Losses (continued)
(In thousands of dollars)

<TABLE>
<CAPTION>                        
                                                December 31, 1994 
                                           ----------------------------
                                                            % of Loans
                                                            Outstanding
                                                              to Total
                                           Allowance            Loans 
                                           ---------           --------
<S>                                           <C>              <C>  
Commercial, financial and        
  agricultural loans                          $ 126            20.52%
Real estate construction                          5             0.81
Real estate mortgage loans                      400            65.15
Installment loans                                83            13.52
                                              -----           -------
                                              $ 614           100.00%
                                              =====           ======= 
</TABLE>


Deposits

       The average amount of deposits, using daily average balances for 1996,
1995, and 1994, is summarized for the periods indicated in the following table
(in thousands of dollars):

<TABLE>
<CAPTION>
                                                            Year Ended December 31,  
                                                  ------------------------------------------
                                                    1996             1995             1994  
                                                  --------         --------         --------
<S>                                               <C>              <C>              <C>
Non-interest bearing demand deposits              $ 15,530         $ 15,707         $ 13,494
Interest-bearing demand deposits                    11,510           11,480           11,855
Savings deposits                                     8,597            8,782            8,775
Time deposits                                       17,659           15,977           15,154
                                                  --------         --------         --------
                                        
                                                  $ 53,296         $ 51,946         $ 49,278
                                                  ========         ========         ========
</TABLE>                                


Return on equity and assets

       The ratio of Net Income to Average Shareholders' Equity and to Average
Total Assets, and certain other ratios, are as follows:

<TABLE>
<CAPTION>
                                                            Year Ended December 31,  
                                                  ------------------------------------------
                                                    1996             1995             1994  
                                                  --------         --------         --------
<S>                                               <C>              <C>              <C>
Percentage of net income to:
  Average total assets                              1.70%           1.64%            1.75%
  Average shareholders' equity                     14.32%          15.46%           17.96%

Percentage of dividends declared per
  common share to net income per
  common share                                     11.56%          10.59%            8.10%

Percentage of average shareholders'
  equity to daily average total assets             11.88%          10.60%            9.76%
</TABLE>





                                     - 12 -
<PAGE>   13
Item 1.  Business (continued)


Short-Term Borrowing

       The Corporation's short-term borrowing and the average interest rate
thereon at the end of the last three years, are as follows (in thousands of
dollars):

<TABLE>
<CAPTION>                              
                                                        Year Ended December 31,  
                                              ------------------------------------------
                                                1996             1995             1994  
                                              --------         --------         --------
  <S>                                           <C>            <C>                <C>
  Balance at December 31                        $   -          $     -            $   -
  Weighted average interest rate at    
     year end                                       - %              - %              - %
  Maximum amount outstanding at any    
     month's end                                $  950         $  1,650           $   -
  Average amount outstanding during    
     the year                                   $   66         $     17           $   -
  Weighted average interest rate       
     during the year                              4.55%           11.76%              - %
</TABLE>                               
                                       
                                       

Item 2. Properties

       The main office of the Corporation and the Bank are presently located at
328 East Landry Street, Opelousas, Louisiana, in the downtown business
district. The Bank leases four branch sites. The building in which the main
office is located is free of all mortgages.

       For information with respect to the Corporation obligations under its
lease commitments, see Note 11 to the Consolidated Financial Statements, which
are incorporated herein by reference under Item 8.


Item 3. Legal Proceedings

       The Corporation is not involved in any legal actions; however, there are
presently pending by the Bank a number of legal proceedings. It is the opinion
of management that the resulting liability, if any, from these actions and
other pending claims will not materially affect the consolidated financial
statements.


Item 4. Submission of Matters to a Vote of Security Holders

        No matters were submitted during the fourth quarter of the fiscal year
covered by this report to a vote of security holders, through the solicitation
of proxies or otherwise.





                                     - 13 -
<PAGE>   14
                                    PART II

Item 5. Market for Registrant's Common Stock and Related Security Holder
Matters

                      MARKET PRICE AND DIVIDENDS DECLARED

<TABLE>
<CAPTION>
                                                                                                    Dividends
              Year              Quarter                    High                  Low                Per Share 
             ------            ---------                  ------               ------              -----------
              <S>              <C>                          <C>                  <C>                     <C>
              1996             First                        $ 25                 $ 20                  $    -
                               Second                         20                    6                       -
                               Third                          25                   20                       -
                               Fourth                         25                   20                    1.00

              1995             First                        $ 25                 $ 20                  $    -
                               Second                         25                   20                       -
                               Third                          25                   20                       -
                               Fourth                         25                   20                    .85
</TABLE>


       Note: The primary market area for American Bancorp, Inc.'s common stock
is the Opelousas, Louisiana area with American Bank and Trust Company acting as
registrar and transfer agent. There were approximately 578 shareholders of
record at December 31, 1996.

       Source of market price - American Bank & Trust Company acts as the
transfer agent for the Company. The stock is thinly traded and the price ranges
are based on stated sales price to the transfer agent, which does not represent
all sales.


RESTRICTIONS ON CASH DIVIDENDS PAYABLE BY THE REGISTRANT:

       The only source of funds by the Company to pay dividends is dividends
paid by the Subsidiary Bank, the payment of which is restricted by applicable
federal and state statutes.

       Federal bank regulatory authorities have authority under the Financial
Institutions Supervisory Act to prohibit a bank from engaging in an unsafe or
unsound practice. The payment of a dividend by the Bank could, depending upon
the financial condition of the Bank and other factors be deemed an unsafe or
unsound practice.

       Applicable Louisiana law prohibits a state bank subsidiary from paying a
dividend if its surplus remaining after payment of the dividend would be less
than half the aggregate par value of its outstanding stock. In addition, a
state bank subsidiary is required to obtain the prior approval of the
Commissioner of Financial Institutions of Louisiana before declaring or paying
a dividend in a given year if the total of all dividends declared or paid
during that year would exceed the total of its net profits for that year
combined with the net profits from the immediately preceding year.





                                     - 14 -
<PAGE>   15
Item 6. Selected Financial Data

       The information called for by Item 6 is included in Registrant's Annual
Report on page 5 in the Section titled "Summary of Operations for the Last Five
Years" and is incorporated herein by reference.


Item 7. Management's Discussion and Analysis of Financial Condition and Results
        of Operations

       The information called for by Item 7 is included in the Registrant's
Annual Report in the section titled "Management's Discussion and Analysis of
Operations" and is incorporated herein by reference.


Item 8. Financial Statements and Supplementary Data

       The following consolidated financial statements of the Registrant and
its subsidiary included on pages 28 through 55 in the Annual Report are
incorporated herein by reference:

       Consolidated Balance Sheets - December 31, 1996 and 1995
       Consolidated Statements of Income - Years Ended December 31, 1996, 1995,
          and 1994
       Consolidated Statements of Shareholders' Equity - Years Ended December
          31, 1996, 1995, and 1994
       Consolidated Statements of Cash Flows - Years Ended December 31, 1996,
          1995, and 1994
       Notes to Consolidated Financial Statements


Item 9. Disagreements in Accounting and Financial Disclosure

       There have been no disagreements with an independent accountant on any
matter of accounting principles or practice, financial disclosure, auditing
scope or procedure.


                                    PART III

Item 10. Directors and Executive Officers

       With the exception of identification of executive officers of the
Corporation, the information called for by Item 10 is omitted pursuant to
General Instruction G(3) and is included in Registrant's definitive Proxy
Statement filed pursuant to Section 14(a). Executive officers of the
Corporation are identified in Item 1, "Executive Officer," included in Part I
of this report.


Item 11. Management Remuneration and Transactions

       The information called for by this item is included in Registrant's
definitive Proxy Statement filed pursuant to Section 14(a) of the Securities
Exchange Act of 1934 and is incorporated herein by reference.





                                     - 15 -
<PAGE>   16
Item 12. Security Ownership of Certain Beneficial Owners and Management

       The information called for by this item is included in Registrant's
definitive Proxy Statement filed pursuant to Section 14(a) of the Securities
Exchange Act of 1934 and is incorporated herein by reference.


Item 13. Certain Relationships and Related Transactions

       The information called for by this item is included in Registrant's
definitive Proxy Statement filed pursuant to Section 14(a) of the Securities
Exchange Act of 1934 and is incorporated herein by reference.


                                    PART IV

Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

             (a)     1.     Financial Statements

                     The following consolidated financial statements of
                     American Bancorp, Inc. and Subsidiary, included in pages
                     28 through 55 of the Registrant's Annual Report are
                     incorporated by reference in Item 8:

                        Consolidated Balance Sheets - December 31, 1996 and
                           1995 
                        Consolidated Statements of Income - Years Ended
                           December 31, 1996, 1995 and 1994 
                        Consolidated Statements of Shareholders' Equity - Years
                           Ended December 31, 1996, 1995 and 1994 
                        Consolidated Statements of Cash Flows - Years Ended 
                           December 31, 1996, 1995 and 1994 
                        Notes to Consolidated Financial Statements


             (a)     2.     Financial Statement Schedules

                     The Schedules to the consolidated financial statements
                     required by Article 9, and all other schedules to the
                     financial statements of the Registrant required by Article
                     9 of Regulation S-X are not required under the related
                     instructions or are inapplicable and therefore have been
                     omitted.


             (a)     3.     Exhibits

                     (13)   1996 Annual Report to Shareholders
                     (23)   Proxy Statement for Annual Meeting of Shareholders
                            to be held on April 9,1997 
                     (24)   Consent of Independent Auditors





                                     - 16 -
<PAGE>   17
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
         (continued)

             (b)     Reports on Form 8-K

                 None


             (c)     Exhibits

                 The response to this portion of Item 14 is submitted as a 
                 separate section of this report.


             (d)     Financial Statement Schedules

                 The response to this portion of Item 14 is submitted as a 
                 separate section of this report.





                                     - 17 -
<PAGE>   18
                                   Signatures

       Pursuant to the requirements of Section 13 or 15(d) of the Securities
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, Inc.
                                       (Registrant)



                                       By: /s/ Salvador L. Diesi, Sr.
                                          ----------------------------------
                                           Salvador L. Diesi, Sr., Chairman
                                            of the Board of the Corporation
                                            and the Bank; President of
                                            the Corporation and the Bank

                                       Dated: March 12, 1997
                                             ------------------------

       Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated.


/s/ Salvador L. Diesi, Sr.                    /s/ Joseph J. Artall
-------------------------------------         ----------------------------------
Salvador L. Diesi, Sr., Chairman of           Joseph J. Artall, Director
  the Board of the Corporation and the
  Bank; President of the Corporation
  and the Bank

/s/ Ronald J. Lashute                         /s/ Walter J. Champagne, Jr.    
-------------------------------------         ----------------------------------
Ronald J. Lashute, Executive Vice-            Walter J. Champagne, Jr., Director
  President and Chief Executive Officer
  of the Bank; Secretary/Treasurer of
  the Corporation

                                              /s/ J.C. Diesi
                                              ----------------------------------
                                              J.C. Diesi, Director





                                     - 18 -
<PAGE>   19
                                EXHIBIT INDEX

                                       

<TABLE>
<CAPTION>

   Number                Description    
   ------                -----------    
  <S>            <C>
  13.1             1996 Annual Report to shareholders of American Bancorp, Inc.

  23.1             Consent of Independent Auditors

  27.1             Financial Data Schedule

  99.1             1996 Proxy Statement for annual meeting of shareholders.
</TABLE>





                                     - 19 -