Allegiance Bank of North America Announces the Public Offering of 2,100,000 Shares of Common Stock

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
A.B.Ports Assd	LSE:ABPA	London	Ordinary Share	GB00B1765577	ORD 25P (ASSD ADMIRAL LN NTS)

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A.B.Ports Assd

LSE:ABPA

London

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GB00B1765577

ORD 25P (ASSD ADMIRAL LN NTS)

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Allegiance Bank of North America Announces the Public Offering of 2,100,000 Shares of Common Stock

13/01/2005 9:40pm

PR Newswire (US)

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Allegiance Bank of North America Announces the Public Offering of 2,100,000 Shares of Common Stock BALA CYNWYD, Pa., Jan. 13 /PRNewswire/ -- Allegiance Bank of North America ("Allegiance") announced that it has entered into an underwriting agreement with Ryan Beck & Co., Inc. ("Ryan Beck") for the sale of 2,100,000 shares of common stock. The offering was priced at $5.75 per share resulting in expected net proceeds of approximately $11.0 million. The offering is expected to close January 20, 2005. In conjunction with the offering, Allegiance common stock is expected to be quoted on the OTC Bulletin Board under the symbol "ABPA". Ryan Beck is the sole underwriter for the offering and was granted an option, exercisable for a period of 30 days, to purchase an additional 315,000 shares or 15% of the offering to cover over-allotments, if any. The offering proceeds will be used for general corporate purposes and to support expansion of the franchise, including the potential opening of new bank branches. The bank anticipates opening a branch in the Olde City section of Philadelphia during the first quarter of 2005. Other than the aforementioned, Allegiance does not have any agreements or understandings to acquire or open new locations. The additional capital will also result in an increase in the bank's legal lending limit to one borrower allowing it to compete more effectively and retain a larger portion of the loans it generates. Allegiance Bank of North America is a locally managed community bank located in Bala Cynwyd, Pennsylvania. It 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. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state. This offering will be made only by means of an offering circular. To receive a copy of the offering circular, contact Ryan Beck & Co., Inc., Florham Park, New Jersey at 1-800-342-2325. DATASOURCE: Allegiance Bank of North America CONTACT: C. Andrew Cook of Allegiance Bank of North America, Bala Cynwyd, +1-610-949-0760

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ABPA A.B.Ports Assd