AmericasBank Corp., the Towson-based parent company of AmericasBank, announced a $333,000 increase in net income for the first quarter of 2007 when compared with the same period a year ago.

For the first quarter last year, AmericasBank reported a loss of net income totaling $214,000. Getting back into the black for the same period this year, AmericasBank saw a substantial increase and $119,000 profit. Total assets were up for the quarter, leveling off at $114 million, up nearly $35 million from last year.