U.S. Securities and Exchange Commission

                            Washington, D.C.  20549

                                 Form 10-KSB/A
                               (Amendment No. 1)

(Mark One)

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

      For the fiscal year ended December 31, 1997

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

      For the transition period from ________________ to _________________

                       Commission File Number 000-22925

                              AmericasBank Corp.
                              ------------------
                (Name of small business issuer in its charter)

      Maryland                                              52-1948980
      --------                                              ----------
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                              Identification No.)

              3621 East Lombard Street, Baltimore, Maryland 21224
              ---------------------------------------------------
                    (Address of principal executive offices)

                    Issuer's telephone number 410-342-8303
                                              ------------

Securities registered under Section 12(b) of the Exchange Act:  None
                                                                ----
Securities registered under Section 12(g) of the Exchange Act:

                    Common Stock, par value $0.01 per share
                    ---------------------------------------
                               (Title of Class)

      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 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
                                                                       ---   ---

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      Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B contained in this form, and no disclosure will 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-KSB
or any amendment to this Form 10-KSB. [ ]

      The issuer's revenues for its most recent fiscal year were $110,000.

      The aggregate market value of the voting and non-voting common equity held
by non-affiliates computed by reference to the price at which the common equity
was sold, or the average bid and asked price of such common equity, as of March
26, 1998 was $1,350,800, based on a sales price of $10.00 per share of Common
Stock, the most recent price at which shares were sold on November 26, 1997 in
the issuer's initial public offering. No shares of Common Stock have been sold
or traded within the last sixty days.

      The number of shares outstanding of the issuer's Common Stock was 300,000
as of March 26, 1998.

                      DOCUMENTS INCORPORATED BY REFERENCE

                                     None.

      Transitional Small Business Disclosure Format (check one):

      Yes  X    No
          ---      ---

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                                  Signatures

      In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                      AMERICASBANK CORP.

Date: September 3, 1998          By:  /s/ J. Clarence Jameson, III
                                      ------------------------------------------
                                      J. Clarence Jameson, III, President
                                      (Principal Executive Officer) and Chairman
                                      of the Board of Directors

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