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|For Immediate Release|
|Executive Vice President||
Senior Vice President
|Chief Financial Officer||
Director of Marketing
Alliance Bancshares California Announces Record
Net Earnings for the Year Ending December 31, 2006
Culver City, CA. (February 20, 2007) Alliance Bancshares California (OTC BB: ABNS.OB), the holding company of Alliance Bank, announced record net earnings of $8.0 million for the year ended December 31, 2006, up 29% from $6.2 million in 2005. Earnings per share were $1.10 (basic) and $1.05 (diluted) for the year ended December 31, 2006, compared to $0.93 (basic) and $0.90 (diluted) for 2005. Net earnings are calculated before preferred stock dividend payments. Financial results for the year ended December 31, 2006, are as yet unaudited.
Total assets rose to $875.8 million at December 31, 2006, up 30% from $675.0 million at December 31, 2005. Total deposits reached $716.9 million as of December 31, 2006, a 35% gain from $531.3 million a year ago. All categories of deposits increased during 2006, especially certificates of deposit which were 45% higher at December 31, 2006 than 2005. Net loans increased to $700.5 million as of December 31, 2006, a 28% rise from $545.4 million on December 31, 2005. All categories of loans were higher at December 31, 2006; real estate loans were up 21%, construction loans up 33% and commercial loans increased 34%.
Net interest income before provision for loan losses increased from $25.3 million for the year ended December 31, 2005, to $38.7 million for the same period in 2006. The increase in net interest income was primarily due to a $245.6 million increase in average
The following information was filed by Alliance Bancshares California on Thursday, March 8, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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