Allegiance Bank Names Lynne C. Davis
         to its Board of Directors

               Lynne C. Davis, President of The Davis Group, a consulting practice specializing
                in the pharmaceutical industry, is the newest member of the Board of Directors
               of Allegiance Bank of North America (OTC BB: ABPA). Her appointment is
             effective immediately. She joins a Board that includes Edgar D. Landis, Chairman,
           Robert Kramer, Vice Chairman, C. Andrew Cook, President and CEO of Allegiance
         Bank, Stanley H. Engle, and Amos B. Smith III.

Davis has been providing solutions to the pharmaceutical industry for over 25 years in the areas of finance, pricing, managed care contracting, government compliance and data management. She holds a B.S. degree in Microbiology from Syracuse University and an MBA in Accounting and Finance from Drexel University. Ms. Davis spent over 17 years at GlaxoSmithKline (formerly SmithKline Beecham), a global pharmaceutical company, where she held positions of increasing responsibility. In 1996 she left her position as Group Director of Contracts and Information Management to create the Davis Group, a consulting practice that supports the pharmaceutical industry. The Davis Group is located in Wynnewood, PA.

The Davis Group provides clients with a broad range of services, all of which focus on the operational and financial infrastructure necessary to do business in the pharmaceutical industry. Clients are comprised primarily of large, medium, and small pharmaceutical companies. The Davis Group specializes in bringing pharmaceutical companies into strategic and operational compliance with the Government pricing requirements of Medicaid, Medicare and other Federal and State pharmaceutical programs.

Allegiance Bank of North America is a Pennsylvania state-chartered full-service commercial bank formed in 1999, 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 through several subsidiaries. The common stock of the Company is traded on OTC Bulletin Board under the symbol ABPA. The bank has branches in Bala Cynwyd, Old City Philadelphia, and new offices in King of Prussia, Worcester, and Berwyn.

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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