John A. Carrozza has been named Senior Vice President and Chief Financial Officer
        of Allegiance Bank (OTC BB: ABPA). He joins Allegiance after serving in the same
               capacity since 2001 for First Penn Bank, a Philadelphia institution with
                  one half-billion dollars in assets. He is a licensed Certified Public
                   Accountant in the state of Pennsylvania.

                 "We are delighted to have John as our new CFO. He is experiencedas an
                accounting and banking professional and he has many connections throughout
             the Delaware Valley financial community," notes Andy Cook, President
          and Chief Executive Officer of Allegiance Bank.

At First Penn, Carrozza was responsible for overseeing and directing the treasury, budgeting, auditing, taxes, accounting, purchasing, long range forecasting, and insurance activities. Previously he served as Audit Manager for Stockton Bates & Company, a Philadelphia CPA firm. He also owned and operated an accounting practice, JAC Consultants and CPAs in Bensalem.

Allegiance Bank is a Pennsylvania state-chartered full-service commercial bank formed in 1999 and headquartered in Bala Cynwyd, Pennsylvania. The Bank offers a sophisticated package of services beyond traditional bank services, such as escrow account management, specialty real estate lending programs, Internet banking and non-bank services including title insurance, real estate settlement services, financial planning, life and health insurance and retirement programs. The common stock of the Company is traded on the OTC Bulletin Board under the symbol ABPA.

The bank has five branches located in Bala Cynwyd, Berwyn, King of Prussia, Old City Philadelphia, and Worcester.

For more information, contact: Allegiance Bank, One Belmont Avenue, Suite 105, Bala Cynwyd, PA 19004, (610) 949-9500, www.allegbank.com

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