ABFS Elects Directors, Boosts Authorized Stock

American Business Financial Services Inc., Philadelphia, has announced the election of four individuals to its board of directors, and stockholder approval of proposals dramatically increasing the number of authorized shares of common and preferred stock.Those elected to three-year terms on the board are as follows: Michael R. DeLuca, an 11-year veteran of the board; and Warren E. Palitz and Jeffrey S. Steinberg, who were named to the board in February. Harold E. Sussman, another 11-year board veteran, was elected to a one-year term. The proposals approved by stockholders included an increase in authorized common shares from 9 million to 209 million and an increase in authorized preferred shares from 3 million to 203 million. The company can be found on the Web at http://www.abfsonline.com.