Allegiance Bank of North America Reports Operating Results for the Three and Nine Month Periods Ended September 30, 2005

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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BALA CYNWYD, Pa., Nov. 8 /PRNewswire-FirstCall/ -- Allegiance Bank of North America (OTC:ABPA) (BULLETIN BOARD: ABPA) , reported today its thirteenth consecutive profitable quarter of operations for the quarter ended September 30, 2005. C. Andrew Cook, President and Chief Executive Officer noted the achievements of the organization in 2005 to date: - The third quarter of 2005 marked the Bank's thirteenth consecutive quarter of profitable operations. Earnings for the third quarter of 2005 increased to a record $327 thousand from $27 thousand during the third quarter of 2004. Earnings per share rose to $0.07 in the third quarter of 2005 from $0.01 in the third quarter of 2004. - Net income for the nine months ended September 30, 2005 was $773 thousand, an increase of 146.2% over the $314 thousand reported for the prior-year period. Earnings per share for the nine months ended September 30, 2005 increased to $0.17 per share from $0.14 per share in the 2004 period, an increase of 21.4%. The smaller percentage increase in earnings per share was due to a doubling of outstanding shares as a result of our issuance of common stock in an offering completed in January 2005. - Increased an already strong net interest margin. For the nine months ended September 30, 2005, the Bank's net interest margin was 5.38%, an increased 46 bps from the 4.92% reported in the 2004 nine-month period. - For the three months ended September 30, 2005, our net interest margin was 5.74%, an increase of 57 bps from the 5.17% reported in the prior-year period. - Total assets increased by 43.6% year over year to $116.6 million at September 30, 2005 from $81.2 million a year earlier; - Increased total loans by $23.2 million or 30.9% to $98.3 million at September 30, 2005 from $75.1 million at September 30, 2004; - Maintained superior asset quality with no non-performing loans at September 30, 2005. Net income for the third quarter 2005 was $327 thousand or $0.07 per share compared to $27 thousand or $0.01 per share for the third quarter of 2004. The increase in earnings was primarily the result of a $548 thousand increase in net interest income and $89 thousand increase in non-interest income. The increase in net interest income was driven by significant increases in earning assets and our net interest margin. These increases were partially offset by a 67.7% or $492 thousand increase in other expenses from $727 thousand during the third quarter of 2004 to $1.2 million in the third quarter of 2005. Net interest income for the third quarter of 2005 increased 54.1% to $1.6 million from $1.0 million for the third quarter of 2004 reflecting continued growth in assets, primarily investments and loans. The increase in net interest income was primarily due to a $778 thousand increase in interest income driven by a 30.9% increase in the Bank's loan portfolio. Contributing to the increase in net interest income was an increase in our net interest margin to 5.74% for the three months ended September 30, 2005 versus 5.17% for the same period of 2004. Non-interest income grew by 342.3% in the third quarter of 2005 to $115 thousand compared to $26 thousand for the same period in 2004. The increase in non-interest income was primarily due to mortgage banking activities, which generated $72 thousand of additional revenue. The provision for loan losses fell $155 thousand from $285 thousand in the third quarter of 2004 to $130 thousand in 2005. The Bank had no non- performing assets at September 30, 2005. For the nine months ended September 30, 2005, the Bank earned $773 thousand or $0.17 per share compared to $314 thousand or $0.14 per share during the prior-year period. Driven by continued growth in the loan portfolio and higher interest rates, interest income for the first nine months of 2005 increased 47.8% to $5.7 million compared to $3.9 million reported in the prior-year period. For the nine months ended September 30, 2005, our net interest margin was 5.38% versus 4.92% for the first nine months of 2004. Net interest income for the nine months ended September 30, 2005 amounted to $4.0 million, a 47.3% increase over the $2.7 million recorded in the same nine month period in 2004. Non-interest income for the first nine months of 2005 was $336 thousand, an increase of $255 thousand from the same period in 2004, mainly driven by mortgage banking revenues which contributed $243 thousand over the nine-month period in 2005. Non-interest expenses totaled to $3.2 million for the nine months ended September 30, 2005, a 52.6% increase from the $2.1 million reported in the first nine months of 2004. The increase in non-interest expenses reflects the Bank's overall growth in loans, deposits and the addition of a second branch office. As reported, assets increased 43.6% to $116.6 million at September 30, 2005 from $81.2 million at September 30, 2004. Investments increased $11.7 million or 317.4% from $3.7 million at September 30, 2004 to $15.3 million at September 30, 2005 while loans increased 30.9% or $23.2 million to $98.3 million at September 30, 2005 from $75.1 million one year earlier. Deposits increased 28.0% to $84.6 million at September 30, 2005 from $66.1 million at September 30, 2004. Short-term borrowings increased 110.7% or $4.2 million to $7.9 million at September 30, 2005 from $3.8 million one year prior to fund a portion of the investment growth. At September 30, 2005, the Bank's allowance for loan losses equaled $1.3 million or 1.36% of total loans compared to $1.2 million or 1.54% of total loans at September 30, 2004. The Bank had no non-performing loans at September 30, 2005. Stockholders' equity increased by $13.5 million to $22.6 million at September 30, 2005 compared to $9.1 million a year earlier. Stockholders' equity equaled 19.4% of total assets at September 30, 2005. In January 2005 the Bank issued 2,415,000 shares of its common stock in a public offering underwritten by Ryan Beck & Co. and received net proceeds of $12.7 million. Regulatory capital ratios are all well in excess of the "well-capitalized" threshold. 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 its three subsidiaries, Allegiance Financial Services, Inc., AllSearch Abstract, LLC, and Paramount Mortgage and Capital, LLC. The common stock of the Company is traded on OTC Bulletin Board under the symbol ABPA. Statements contained in this news release, which are not historical facts, are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Amounts herein could vary as a result of market and other factors. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Such forward-looking statements may be identified by the use of such words as "believe," "expect," "anticipate," "should," "planned," "estimated," and "potential." Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, expected or anticipated revenue, results of operations and business of the Company that are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values, and competition; changes in accounting principals, policies, or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory, and technological factors affecting the Company's operations, pricing, products and services. ALLEGIANCE BANK OF NORTH AMERICA Consolidated Balance Sheets (in Thousands) September 30, December 31, September 30, 2005 2004 2004 (unaudited) (unaudited) ASSETS Cash & due from banks $1,440 $1,097 $1,680 Interest bearing demand deposits 130 524 136 Federal funds sold - 1,142 117 Cash & Cash Equivalents 1,570 2,763 1,933 Securities available for sale 15,947 3,255 4,222 Loans receivable 98,343 81,204 75,112 Less: Allowance for loan losses (1,341) (931) (1,158) Net loans receivable 97,002 80,273 73,954 Bank premises & equipment 1,154 627 556 Accrued interest receivable 610 343 356 Other assets 359 348 211 Total Assets $116,642 $87,609 $81,232 LIABILITIES & STOCKHOLDERS' EQUITY LIABILITIES Deposits Non-interest bearing deposits $6,316 $4,439 $4,338 Interest bearing deposits (NOW, MMDA) 30,117 24,868 24,086 Savings 999 786 802 Time deposits 47,129 38,425 36,854 Total Deposits 84,561 68,518 66,080 Borrowings 8,624 8,986 4,491 Accrued interest payable 109 115 93 Other liabilities 741 791 1,503 Total Liabilities 94,035 78,410 72,167 STOCKHOLDERS' EQUITY Common Stock 4,781 2,362 2,363 Surplus 19,595 9,304 9,303 Accumulated deficit (1,677) (2,455) (2,605) Accumulated other comprehensive income (loss) (92) (12) 4 Total Stockholders' Equity 22,607 9,199 9,065 Total Liabilities & Stockholders' Equity $116,642 $87,609 $81,232 ALLEGIANCE BANK OF NORTH AMERICA Consolidated Income Statements (in Thousands, except per share data) Three Three Nine Nine Months Months Months Months ended ended ended ended Sept. 30, Sept. 30, Sept. 30, Sept. 30, 2005 2004 2005 2004 (unaudited)(unaudited)(unaudited)(unaudited) Interest Income: Loans receivable $2,100 $1,408 $5,439 $3,802 Securities 99 21 175 65 Other 9 1 110 7 Total Interest Income 2,208 1,430 5,724 3,874 Interest Expense: Deposits 633 385 1,634 1,059 Borrowings 14 32 45 69 Total Interest Expense 647 417 1,679 1,128 Net Interest Income 1,561 1,013 4,045 2,746 Provision for loan losses 130 285 395 408 Net Interest income after provision for loan losses 1,431 728 3,650 2,338 Non-Interest Income Customer service fees 31 17 73 54 Other 84 9 263 27 Total Non-Interest Income 115 26 336 81 Non-Interest Expense Salaries and employee benefits 669 391 1,845 1,159 Occupancy 105 55 258 172 Equipment and data processing 147 103 361 304 Advertising, marketing and business development 33 21 155 77 Professional fees 110 67 225 177 Bank Shares tax 17 14 50 42 Other 138 76 319 174 Total Non-Interest Expense 1,219 727 3,213 2,105 Income before minority interests 327 27 773 314 Minority interest in subsidiary - - - - Net Income $327 $27 $773 $314 Earnings per share Basic $0.07 $0.01 $0.17 $0.14 Diluted $0.07 $0.01 $0.17 $0.14 DATASOURCE: Allegiance Bank of North America CONTACT: C. Andrew Cook, President and Chief Executive Officer of Allegiance Bank of North America, +1-610-949-0760

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ABPA A.B.Ports Assd