<PAGE>   1


                    U.S. SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C.

                                  FORM 10-QSB


              [X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

              [ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                                  EXCHANGE ACT

                          For the transition period to

                         Commission file number 0-27474
                                               ----------

                           AMERICAN BANCSHARES, INC.
  -------------------------------------------------------------------------
       (Exact name of small business issues as specified in its charter)


             Florida                                   65-0624640
  ----------------------------------       ---------------------------------
      (State or other jurisdiction               (IRS Employer Id. No.)
      incorporation or organization

                4702 Cortez Road West, Bradenton, Florida 34210
     ---------------------------------------------------------------------

                                 (941) 795-3050
                    -------------------------------------------


-------------------------------------------------------------------------------
    (Former name, former address and former fiscal year, if changed since
                                last report)

                                      

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for 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    .
                                                               ----      ----

State the number of shares outstanding of each issuer's classes of common
equity, as of the last practicable date: 4040927 as of March 31, 1997
                                        -----------------------------------     
<PAGE>   2

                               TABLE OF CONTENTS


<TABLE>
<CAPTION>
                                                                                              Page
<S>              <C>                                                                          <C>
Part I           FINANCIAL INFORMATION

                 Item 1
                          -Financial Statements                                               1-3

                          -Notes to Consolidated Condensed Financial Statements               4-6

                 Item 2
                          -Management's Discussion and Analysis
                           of Financial Condition and Results of
                           Operations                                                         7-8


Part II          OTHER INFORMATION

                 Item 1           Legal Proceedings                                           9


                 Item 2           Changes in Securities                                       
                                  (Not applicable this report)                                n/a 

                 Item 3           Defaults Upon Senior Securities
                                  (Not applicable this report)                                n/a

                 Item 4           Submission of Matters to a Vote
                                  of Security Holders
                                  (Not applicable this report)                                n/a

                 Item 5           Other Information                                           
                                  (Not applicable this report)                                n/a  


</TABLE>



                                        
<PAGE>   3


PART 1 - FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS

AMERICAN BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED CONDENSED BALANCE SHEETS
($ in thousands)
<TABLE>
<CAPTION>
                                                      MARCH 31,         DECEMBER 31,
                                                         1997               1996
ASSETS                                               (UNAUDITED)         (AUDITED)
<S>                                                <C>               <C>
  Cash and due from banks                          $       8,164     $         7,517
  Federal funds sold                                       5,145               6,000
  Interest bearing deposits in banks                         662               7,528
  Mortgage loans held for sale                            26,099              20,351
  Investment securities, available for sale               34,104              21,026
  Mortgage-backed securities, available for sale           5,564               5,085
  Loans (net of allowance for credit losses and  
   deferred loan fees of $487,537 as of             
   March 31, 1997 and $395,463 as of
   December 31, 1996)                                    144,714             135,108
Premises and equipment, net                                7,105               6,879
Other real estate owned, net                                 720                   0
Goodwill                                                      54                   0
Other assets                                               3,114               2,471
                                                   -------------     ---------------  
  TOTAL ASSETS                                     $     235,445     $       211,965
                                                   =============     ===============

LIABILITIES AND SHAREHOLDERS' EQUITY

LIABILITIES
  Deposits                                         $     196,803     $       177,203
  Securities sold under agreements to repurchase          13,490              10,113
  Federal funds purchased and FHLB borrowings              5,000               5,000
  Other liabilities                                        1,082                 835
                                                   -------------     ---------------  
    TOTAL LIABILITIES                                    216,375             193,151


SHAREHOLDERS' EQUITY
  Common stock, $1.175 par value, 10,000,000
   shares authorized, 4,040,927 shares issued
   and outstanding as of March 31, 1997
   and 4,001,744 as of December 31, 1996                   4,783               4,702
  Additional paid in capital                              12,033              11,736
  Unrealized gain (loss) on securities available
     for sale, net                                          (456)                (80)
  Retained earnings                                        2,710               2,456
                                                   -------------     ---------------  
    TOTAL STOCKHOLDERS' EQUITY                            19,070              18,814
                                                   -------------     ---------------  

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY         $     235,445     $       211,965
                                                   =============     ===============
</TABLE>


      The accompanying notes are an integral part of these financial statements.





                                     Page 1
<PAGE>   4


AMERICAN BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(UNAUDITED, $ IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                THREE MONTH'S ENDED MARCH,
                                                                1997                  1996
                                                       ------------------    -------------------          
<S>                                                     <C>                 <C>      
Interest income
  Interest and fees on loans                           $            3,555    $             2,777
  Interest on mortgage backed securities, taxable                      95                     80
  Interest on investment securities, taxable                          542                    232
  Interest on investment securities, nontaxable                         5                      5
  Other interest income                                               125                     63
                                                       ------------------    -------------------          
    Total interest income                                           4,322                  3,157

Interest expense
  Deposits                                                          2,075                  1,465
  Securities sold under agreements to repurchase                      113                     81
  Federal funds purchased and FHLB advances                            78                     38
                                                       ------------------    -------------------          
    Total interest expense                                          2,266                  1,584

Net interest income                                                 2,056                  1,573
Provision for loan losses                                             140                     29
                                                       ------------------    -------------------          
Net interest income after loan loss                                 1,916                  1,544

Noninterest income
  Service charges & fees                                              225                    154
  Gain on sale of loans                                                 4                    100
  Fees on mortgage servicing                                           22                      8
  Gain on sale of servicing                                            52                      0
  Originated mortgage servicing rights                                  6                    121
  Gain on sale of securities                                            2                      0
  Merchant fees                                                       121                     59
  Other income                                                        151                     74
                                                       ------------------    -------------------          
    Total noninterest income                                          583                    516

Noninterest expense
  Salaries & employee benefits                                      1,018                    898
  Net occupancy expense                                               278                    187
  Data processing fees                                                108                    143
  Other expense                                                       754                    517
                                                       ------------------    -------------------          
    Total noninterest expense                                       2,158                  1,745

Income before income taxes                                            341                    315
Provision for income taxes                                            134                    119
                                                       ------------------    -------------------          

Net income                                             $              207  $                 196
                                                       ==================  ======================    
Earnings per share
Primary                                                $             0.21  $                0.25
                   
Fully diluted                                                        0.21                   0.23

Average Number of shares outstanding
Primary                                                         4,032,222              3,160,258
Fully diluted                                                   4,052,994              3,398,112

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





                                     Page 2
<PAGE>   5

AMERICAN BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS
(UNAUDITED, $ IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                          THREE MONTHS ENDED MARCH 31,
                                                                            1997               1996
                                                                      -------------    ---------------
<S>                                                                    <C>              <C>
Cash flows from operating activities:

    Net income                                                        $          207   $           195
                                                                      --------------   ---------------    
    Adjustments to reconcile net income to net cash
      provided by operating activities:
        Provision for loan losses                                                140                30
        Net gain on sale of investment securities                                 (2)                0
        Net gain on sale of loans                                                 (4)              (99)
        Net gain on sale of mortgage servicing rights                            (52)                0
        Net gain on originated mortgage servicing rights                          (6)             (121)
        Net gain on sale of assets                                                 0                 0
        Deferred income taxes                                                      0               119
        Depreciation                                                             144                85
        Net amortization of premiums and accretion of discounts on
           investment securities                                                   4                18
        Increase in other liabilities                                            244               239
        Increase in other assets                                              (1,360)              468
                                                                      --------------   ---------------
          Total adjustments                                                     (892)              739
                                                                      --------------   ---------------
          Net cash provided by operating activities                             (685)              934
                                                                      --------------   ---------------

Cash flows from investing activities:
    Loan originations, net of repayments                                     (19,700)          (13,868)
    Purchase of loans held for sale                                                0                 0
    Proceeds from sales of loans held for sale                                 4,211            10,189
    Purchases of bank premises and equipment                                    (370)           (1,282)
    Proceeds on sales of assets                                                    0                 0
    Proceeds from maturities of held to maturity investment securities             0                 0
    Proceeds from sales and maturities of available for sale investment
          securities                                                           1,546             5,609
    Purchases of held to maturity investment securities                            0                 0
    Purchases of available for sale investment securities, net of
            repayments                                                       (15,481)           (5,878)
                                                                      --------------   ---------------
          Net cash used in investing activities                              (29,794)           (5,230)
                                                                      --------------   ---------------

Cash flows from financing activities:
    Net increase (decrease) in demand deposits, NOW and savings
          accounts                                                            19,506             6,345
    Net increase in time deposits                                                 97             2,557
    Net increase (decrease) in securities sold under agreements to
             repurchase                                                        3,377              (265)
    Principal payments under capital lease obligations                             0                 0
    Proceeds from advances from the FHLB and Federal Funds purchased               0            (5,000)
    Proceeds from sale of stock                                                  425             7,908
                                                                      --------------   ---------------
          Net cash provided by financing activities                           23,405            11,545
                                                                      --------------   ---------------
    Net increase (decrease) in cash and cash equivalents                      (7,074)            7,249
    Cash and cash equivalents at beginning of period                          21,045            22,514
                                                                      --------------   ---------------
    Cash and cash equivalents at end of period                        $       13,971   $        29,763
                                                                      ==============   ===============
    Supplemental disclosures:
        Interest paid                                                 $        2,259   $         1,594
                                                                      ==============   ===============
        Taxes paid                                                    $            0   $             0
                                                                      ==============   ===============

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





                                     Page 3
<PAGE>   6

                    AMERICAN BANCSHARES, INC. AND SUBSIDIARY
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS


Note 1.          Holding Company and Subsidiary Background Information

                 American Bancshares, Inc. (Company), is a one bank holding
                 company, operated under the laws of the state of Florida.  Its
                 wholly owned banking subsidiary is American Bank of Bradenton
                 (Bank), a state chartered bank.  The Holding Company, a
                 Florida corporation organized June 30, 1995, is a registered
                 holding company under the Bank Holding Company Act of 1956, as
                 amended, and on December 1, 1995 became the bank holding
                 company for the Bank.  The Bank was incorporated on December
                 6, 1988 and opened for business on May 8, 1989.  The Bank is a
                 general commercial bank with all the rights, powers, and
                 privileges granted and conferred by the Florida Banking Code.
                 Although the Holding Company was not formed until June 30,
                 1995 and did not acquire the Bank until December 1, 1995, the
                 financial statements have been presented as if the Holding
                 Company had been in existence since the Bank was formed in
                 1988 and as if the Bank was its wholly owned subsidiary since
                 that time.

Note 2.          Basis of Presentation

                 The accompanying unaudited condensed consolidated financial
                 statements, in the opinion of management, include all
                 adjustments, consisting only of normal recurring adjustments
                 necessary for a fair presentation of the results for the
                 interim periods.  Certain information and footnote disclosures
                 normally included in financial statements prepared in
                 accordance with generally accepted accounting principles have
                 been condensed or omitted pursuant to SEC rules and
                 regulations, although the Company believes that the
                 disclosures included herein are adequate to make the
                 information presented not misleading.  The results of
                 operations for the three month period ended March 31, 1997 are
                 not necessarily indicative of the results expected for the
                 full year.

                 The organization and business of the Company, accounting
                 policies followed by the Company and other information are
                 contained in the Company's December 31, 1996 Form 10KSB. This
                 quarterly report should be read in conjunction with such
                 annual report.

Note 3.          Investments

                 The Company's investment and mortgage-backed securities are
                 classified as available for sale and recorded at fair value as
                 required by the provisions of Statement of Financial
                 Accounting Standards number 115.  Unrealized gains and losses
                 are reflected as a separate component of shareholders' equity
                 on the consolidated statement of condition.  At March 31,
                 1997, an unrealized loss, net of tax, of $456,000 was
                 reflected as a decrease of shareholders' equity.





                                     Page 4
<PAGE>   7

                    AMERICAN BANCSHARES, INC. AND SUBSIDIARY
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS



Note 4.          Earnings Per Share

                 Earnings per share have been computed by dividing net income
                 by the weighted average number of shares outstanding for the
                 respective period(s).  The increase in the weighted average
                 number of shares is a result of the Company's public offering
                 in February 1996.  Common stock equivalents in the form of
                 stock warrants have been included to reflect the dilution
                 effect of such warrants.

Note 5.          Capital

                 In December 1995, the Company filed a registration statement
                 on Form SB-2 with Securities and Exchange Commission to
                 register for sale 1,250,000 shares of the Company's common
                 stock (with an additional 187,500 shares subject to the
                 underwriters' over allotment option) at $6.00 per share
                 pursuant to a firm commitment underwritten public offering.
                 The SB-2 became effective February 6, 1996, with the sale of
                 1,250,000 shares of common stock consummated on February 13,
                 1996.  On March 6, 1996, the underwriter elected to exercise
                 the over allotment, consummating the transaction on March 13,
                 1996.  Of the net proceeds of approximately $7.5 million, $4.0
                 million has been contributed as capital to the Bank and
                 approximately $786,000 invested to date in land and building
                 in the construction of an administrative facility.  The
                 balance will be used for general corporate purposes including
                 the construction of a new administrative facility, possible
                 acquisitions of other financial institutions, and working
                 capital.

Note 6.          Impact of Recently Issued Accounting Standards

                 Earnings Per Share: In February 1997, Statement of Financial
                 Accounting Standards No. 128, "Earnings Per Share" (SFAS No.
                 128), was issued. SFAS No. 128 specifies the computation, 
                 presentation, and disclosure requirements for earnings per 
                 share.

                 SFAS No. 128 is designed to improve the Earnings Per Share
                 (EPS) information provided in financial statements by
                 simplifying computational guidelines, revising the disclosure
                 requirements, and increasing the comparability of EPS data on
                 an international basis. Some of the changes made to simplify
                 the EPS computations include: (a) eliminating the presentation
                 of primary EPS and replacing it with basic EPS, with the
                 principal difference being that common stock equivalents are
                 not considered in computing basic EPS, (b) eliminating the
                 modified treasury stock method and the three percent
                 materiality provision, and (c) revising the contingent share
                 provisions and the supplemental EPS data requirements. SFAS
                 No. 128 requires dual presentation of basic and fully diluted
                 EPS on the face of the income statement for all entities with
                 complex capital structures regardless of whether basic and
                 fully diluted EPS are the same. It also requires a
                 reconciliation of the numerator and denominator used in
                 computing basic and fully diluted EPS.





                                     Page 5
<PAGE>   8

                    AMERICAN BANCSHARES, INC. AND SUBSIDIARY
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS



Note 6.          Impact of Recently Issued Accounting Standards (Continued)

                 SFAS No. 128 is effective for financial statements issued for
                 periods ending after December 15, 1997, including interim
                 periods. Earlier application is not permitted. The statement
                 requires restatement of all prior-period EPS data presented
                 after the effective date. The Company has not yet determined
                 the impact adoption of SFAS No. 128 will have on its financial
                 statements.

                 Capital Structure Disclosure: In February 1997 the Financial
                 Accounting Standards Board issued Statement of Financial
                 Accounting Standards No. 129, "Disclosure of Information About
                 Capital Structure" (SFAS No. 129). SFAS No. 129 consolidates
                 the existing requirements to disclose certain information
                 about an entity's capital structure.

                 SFAS No. 129 requires that disclosure about an entity's
                 capital structure include a brief discussion of rights and
                 privileges for securities outstanding, including dividend and
                 liquidation preferences, participation rights, call prices and
                 dates, conversion or exercise prices or rates and pertinent
                 dates, sinking-fund requirements, unusual voting rights, and
                 significant terms of contracts to issue additional shares. The
                 number of shares issued upon conversion, exercise or
                 satisfaction of required conditions during at least the most
                 recent annual fiscal period and any subsequent interim period
                 presented also are required to be disclosed. In addition,
                 companies that issue stock with liquidation preferences or
                 redeemable stock are required to disclose all pertinent
                 characteristics of those securities.

                 SFAS No. 129 is effective for financial statements for periods
                 ending after December 15, 1997. As SFAS No. 129 relates only to
                 disclosure issues, there will be no impact on the Company's
                 financial statements upon adoption.





                                     Page 6
<PAGE>   9

PART 1


ITEM 2.

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



AMERICAN BANCSHARES, INC. AND SUBSIDIARY


LIQUIDITY AND CAPITAL RESOURCES

Total assets of the Company increased by 11% to $235,445,000 as of March 31,
1997, from $211,965,000 as of December 31, 1996 and 42% from $166,117,000 as of
March 31, 1996.  The increase in assets from December 31, 1996, was primarily
the result of increases in interest earning assets with net loans increasing by
$15,353,000 to $170,813,000 and investment securities increasing by
$13,557,000.  Federal funds sold decreased by $855,000 to $5,145,000 as of
March 31, 1997. The increases in assets were funded through increases in
deposits at existing locations.

As a result of the public offering and subsequent $4,000,000 investment in the
Bank by the Company, the Bank's Tier 1 leverage ratio was 6.90%, Tier 1 to risk
weighted assets was 9.41% and total risk based capital was 10.01% as of March
31, 1997, resulting in a classification of "Well Capitalized" under FDIC
guidelines.  The Bank, through its Asset/Liability Committee, monitors, among
other things, the Bank's capital and liquidity position, making adjustments to
deposit, loan, and investment strategies as necessary.  The Bank continues to
maintain adequate liquidity levels with a liquidity ratio at March 31, 1997 of
35.34%.  In addition, the Bank is a member of the Federal Home Loan Bank of
Atlanta (FHLB).  FHLB has approved an advance totaling $11,500,000
collateralized by qualifying mortgages and all of the Bank's FHLB stock.  As of
March 31, 1997, an advance in the amount of $5,000,000 was outstanding.  The
Bank also maintains Federal Funds Purchased agreements with several
correspondent banks to provide sources of overnight funds.  As of March 31,
1997, the Bank had no federal funds purchased.





                                     Page 7
<PAGE>   10

PART 1

ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS (CONTINUED)

AMERICAN BANCSHARES, INC. AND SUBSIDIARY

RESULTS OF OPERATIONS

The Company's net income for the quarter ended March 31, 1997 was $207,000 or
$.05 per share, compared to net income of $196,000 or $.06 per share for the
same period for 1996. Earnings per share were affected by the additional shares
outstanding as a result of the public offering which was completed in the first
quarter of 1996. Net interest income increased $483,000 to $2,056,000 for the
quarter ended March 31, 1997 as a result of the increase in interest earning
assets.  Non-interest income increased from $516,000 for the quarter ended
March 31, 1996 to $583,000 for the same period in 1997.  The increase in
non-interest income is primarily attributable to increases in deposit fees of
$71,000 resulting from a larger deposit base, increase in the gains on the
sale of servicing rights of $52,000 and an increase in credit card merchant fee
income of $62,000.

Total general and administrative expense for the quarter ended March 31, 1997,
increased $413,000 over the same period of 1996. This increase resulted
primarily from increases in other operating expenses related to the growth in
the Company's assets and number of Bank branches.  Specifically, occupancy
expense, professional services and depreciation accounted for a substantial
portion of the increase for both the quarter and year to date ended March 31,
1997.  In addition, salary and benefit costs increased $120,000 as a result of
increased staff in lending, operations, and accounting which were added to
support the significant growth experienced during 1996. Also, in January, 1997,
the Company acquired Deschamps & Gregory, a local mortgage brokerage firm, and
hired staff for the new Palmetto branch office that will open in June 1997.
Full time equivalent employees increased from 105.5 at March 31, 1996 to 135 as
of March 31, 1997.

For the three months ended March 31, 1997, net interest income increased
$483,000 to $2,056,000 compared to $1,573,000 for the same period in 1996 as a
result of the 42% asset growth. The provision for loan loss expense increased
from $29,000 for the three month period ended March 31, 1996 to $140,000 for
the same period in 1997.  Management uses a procedure on a monthly basis for
evaluating the adequacy of the allowance for loan loss.  Based on that review
management considers the allowance sufficient to cover expected loan losses.





                                     Page 8
<PAGE>   11

PART II - OTHER INFORMATION


ITEM 1.          LEGAL PROCEEDINGS


         On January 15, 1997, Theresa Moss, a former employee of the Bank,
         filed a claim with the Equal Employment Opportunity Commission (EEOC)
         alleging that such employee was demoted by the Bank in retaliation
         for complaining against a co-employee for offensive comments which
         caused a hostile work environment leading to her resignation from the
         Bank.  It is alleged that this conduct violated her rights under Title
         VII of the Civil Rights Act of 1964.  The EEOC claim does not request
         any specific relief or remedies sought in connection therewith.  The
         Company believes that the Bank acted appropriately and that this
         action is without merit and it intends to defend this action
         vigorously.


         On March 27,1997, James J. Bazata, a former employee of the Bank, filed
         an claim in the United States District Court, Tampa Division, alleging
         that such employee was discriminated against.  It is alleged that this
         conduct violated his rights under the Americans with Disabilities Act
         of 1990. The company believes that the Bank acted appropriately and
         that this action is without merit and intends to defend this action
         vigorously.





                                     Page 9
<PAGE>   12

SIGNATURES


Pursuant to the requirements 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.




                                       /s/     GERALD L. ANTHONY 
                                       ------------------------------------  
                                       Gerald L. Anthony, President and Chief
                                       Executive Officer


                                       Date:   May 12, 1997


                                       /s/     BRIAN M. WATTERSON 
                                       -------------------------------------
                                       Brian M. Watterson 
                                       Senior Vice President and 
                                       Chief Financial Officer


                                       Date:   May 12, 1997