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For Immediate Release          March 17, 2008         Bala Cynwyd, PA

Gregg J. Wagner Elected President/CEO
        of Allegiance Bank
                            
   
                      Allegiance Bank of North America announced today the election of
                   Gregg J. Wagner as President and Chief Executive Officer. Mr. Wagner,
               age 48, had been Chief Financial Officer of Royal Bank of America, Narberth,
             PA. For 12 years prior to joining Royal Bank, Wagner had been with Harleysville       National Corporation where he served as President and Chief Executive Officer in
2005 and 2006.

Mr. Wagner succeeds C. Andrew Cook, who had served as President and Chief Executive Officer of Allegiance Bank since its formation in 1999. Mr. Cook, age 66, will continue with Allegiance Bank in an advisory and consulting capacity as Vice Chairman and a member of the Board of Directors.

Edgar Landis, Chairman of the Board of Allegiance Bank noted that “the directors and shareholders of Allegiance Bank are grateful for Andy’s devoted service to the Bank through its vital formative years and we are fortunate to continue to benefit from his long banking experience. We are looking forward to continued growth under Gregg’s leadership.”

Allegiance Bank, headquartered in Bala Cynwyd, PA, has five branches in Philadelphia and its suburbs and has assets of $151,000,000.

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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