EX-99
2
ex-99.txt
PRESS RELEASE


                                  PRESS RELEASE

                                  Contact: Fred G. Kowal
                                           President and Chief Operating Officer
                                           (973) 748-3600
American Bancorp of New Jersey, Inc.
American Bank of New Jersey
365 Broad Street
Bloomfield, NJ  07003-2798

NASDAQ National Market "ABNJ"              For Immediate Release
                                           ---------------------
                                           November 23, 2005

                 AMERICAN BANCORP OF NEW JERSEY, INC. ANNOUNCES
                              FISCAL 2005 EARNINGS

Bloomfield,  New Jersey - November  23,  2005 - American  Bancorp of New Jersey,
Inc. (NASDAQ:  ABNJ)  ("American")  announced today earnings of $2.0 million for
the year ended September 30, 2005 as compared to $2.2 million for the year ended
September  30,  2004.  Basic and diluted  earnings  per share for the year ended
September 30, 2005 were $0.38 and $0.37, respectively. By comparison, both basic
and diluted  earnings per share for the prior year ended September 30, 2004 were
$0.40.

The  Company's  net interest  spread  remained  constant for both years at 2.28%
while its net interest  margin was also  unchanged at 2.60% for both years. A 15
basis point improvement in the yield on interest-earning  assets for fiscal 2005
was  matched  by  an  equivalent   increase  in  the  cost  of  interest-bearing
liabilities.  Average  interest-earning  assets grew by $36.9  million to $425.9
million for fiscal 2005,  while  average  interest-bearing  liabilities  grew by
$36.3 million to $372.6 million.

For the year ended September 30, 2005, loans receivable,  net increased 10.4% to
$341.0  million  from $309.0  million at September  30,  2004.  Total gross loan
balances,  excluding  loans  held for  sale,  net  deferred  loan  costs and the
allowance for loan loss,  grew $32.0 million or 10.3%.  The growth was primarily
comprised of net  increases in  multi-family  and  commercial  real estate loans
totaling  $15.4  million  coupled  with  net  increases  in  one-to-four  family
mortgages  totaling  $15.5 million.  Additional  components of the net change in
gross loan balances included  increases in home equity loans of $2.7 million and
net increases in commercial and consumer loans  totaling  $304,000.  This growth
was offset by a decline in the disbursed balance of construction  loans totaling
$1.9 million.

Deposits  increased by 5.6% to $340.9  million at September 30, 2005 from $322.7
million at September 30, 2004.  Certificates of deposit  increased $34.8 million
to $152.8  million while savings  deposits  decreased by $20.1 million to $123.3
million.  Checking  deposits,  including  demand,  NOW and money market checking
accounts, increased $3.6 million to $64.8 million.

Overall growth in loans and deposits contributed significantly to a $956,000, or
9.5%, improvement in net interest income. However,  improvements in net interest
income were more than offset by higher  noninterest  expense which  increased by
$1.3 million, or 16.5%. Noninterest expense grew primarily as a result of a $1.1
million, or 22.5%,  increase in salaries and benefits expense and a $346,000, or
37.5%, increase in other noninterest expense which includes legal,  professional
and consulting fees.



A  significant  portion of the  increase in salaries  and  benefits  expense was
attributable  to a charge of $444,000  resulting from  restructuring  the Bank's
director  retirement plan. Salaries and wages including bonus and payroll taxes,
also increased  $324,000 or 9.3% due, in part, to executive and lending staffing
additions  coupled  with  overall  annual  increases  in employee  compensation.
Additionally,  salaries  and  benefits  costs  increased  $207,000  due  to  the
implementation of a restricted stock plan during the current fiscal year.

The overall  increase in other non interest  expense was attributable to several
factors.  Legal fees increased $129,000 to $234,000 for the year ended September
30, 2005 from $105,000 for the same period in 2004. A portion of the increase in
legal  fees  was  attributable  to  matters  presented  to  shareholders  at the
Company's annual meeting held January 20, 2005.  Additionally,  professional and
consulting fees,  including auditing and accounting fees,  increased $132,000 to
$274,000 for the year ended September 30, 2005 as compared to the same period in
2004. A portion of this increase was attributable to the Company's  operation as
a  public  company   including   implementation   costs   associated   with  the
Sarbanes-Oxley  Act of 2002.  Other  comparative  increases  in both  legal  and
professional  and consulting fees were  attributable  to ongoing  evaluation and
implementation  of  growth  and  diversification   strategies  relating  to  the
execution of the Company's business plan.

At September 30, 2005, stock subscriptions  totaling $115.2 million were held in
overnight  investments  pending  completion  of  American's  stock  offering  in
connection with the  second-step  conversion of American  Savings,  MHC from the
mutual holding company form of organization  to a full stock  corporation.  Upon
closing of the offering on October 5, 2005,  $33.7 million of  oversubscriptions
were refunded and the  remainder,  less  offering  expenses,  became  capital of
American. An additional $9.8 million of deposits were used to purchase shares in
the Company's second-step conversion.

In total,  American sold 9,918,750  shares in the conversion at $10.00 per share
including the 793,500  shares sold to the  Company's  employee  stock  ownership
plan.  Additionally,  each share of common stock held by the public stockholders
of ASB Holding  Company,  the former  middle-tier  stock  holding  company,  was
converted  into  2.55102  shares of common  stock of  American,  resulting in an
aggregate of 4,250,719  exchange  shares  issued.  Together,  the conversion and
exchanged  shares comprise  14,169,469 ABNJ shares now  outstanding.  American's
common stock began trading on the NASDAQ National Market under the symbol "ABNJ"
on October 6, 2005.

Upon closing the second-step  conversion of American Savings,  MHC on October 5,
2005, ASB Holding  Company ceased to exist and was replaced by American  Bancorp
of New Jersey,  Inc. as the holding  company of American  Bank of New Jersey,  a
federally  chartered  stock savings bank which  conducts  business from its main
office in  Bloomfield,  New  Jersey and one branch  office in Cedar  Grove,  New
Jersey.  The earnings for the fiscal year ended  September  30, 2005 reported by
American are those of ASB Holding Company.

The  foregoing  material  contains  forward-looking  statements  concerning  our
financial  condition,  results of operations and business.  We caution that such
statements  are subject to a number of  uncertainties  and actual  results could
differ materially,  and,  therefore,  readers should not place undue reliance on
any forward-looking  statements. We do not undertake, and specifically disclaim,
any obligation to publicly release the results of any revisions that may be made
to any  forward-looking  statements to reflect the  occurrence of anticipated or
unanticipated events or circumstances after the date of such statements.




The following information was filed by American Bancorp Of New Jersey Inc on Monday, November 28, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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