Main Line Chamber of Commerce Names Allegiance Bank ''Small Business of the Year''

June 23, 2006; 08:35 AM

Bala Cynwyd, Pa. - Last evening, at its annual awards dinner at the Desmond Great Valley Hotel in Malvern, PA, the Main Line Chamber of Commerce honored Allegiance Bank as its 2006 Small Business of the Year.

According to C. Andrew Cook, President and CEO of Allegiance Bank, "This recognition is the culmination of a lot of positive efforts undertaken in recent years by our employees and our late founder, Larry Isdaner. Larry really paved the way for us to dramatically broaden our horizons in 2006."

Currently, Allegiance has three branches: Bala Cynwyd, Old City, and King of Prussia. Additional locations will open this fall.

Formed in 1999, Allegiance Bank (OTCBB:ABPA) is locally owned and managed with all decision-making authority based at its Bala Cynwyd headquarters. Customers always have convenient access to an experienced and diversely qualified senior management team who will listen to their needs and respond with unique solutions. Allegiance Bank is a Pennsylvania state-chartered full-service commercial bank. 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.

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