Exhibit 99.1
 
Alabama National BanCorporation Announces
Third Quarter 2007 Earnings

FOR IMMEDIATE RELEASE - Birmingham, Alabama (October 23, 2007) - Alabama National BanCorporation (“ANB”) (NASDAQ/Global Select Market: ALAB) today announced earnings for the quarter and nine-month period ended September 30, 2007.

For the 2007 third quarter, ANB reported net income of $19.8 million, or $0.95 per diluted share. Nine months year-to-date net income was $61.8 million, or $2.96 per diluted share. As previously reported, ANB sold its ANB Insurance Services, Inc. subsidiary during the 2007 second quarter. Earnings from the operation of this subsidiary and the gain from its sale are carried as income from discontinued operations in the income statement.

Excluding the discontinued insurance operations from all periods, ANB reported earnings from continuing operations of $19.8 million in the 2007 third quarter, down 6.1% from the $21.1 million earned in the 2007 second quarter and down 1.4% from the 2006 third quarter’s $20.1 million in net income from continuing operations. Diluted earnings per share (continuing operations) of $0.95 in the 2007 third quarter were 5.6% below the $1.01 reported in the 2007 second quarter and 9.7% below the $1.06 reported in the year ago third quarter. Diluted cash earnings per share (continuing operations) were $0.99 in the 2007 third quarter, as compared with $1.05 and $1.10 in the 2007 second quarter and 2006 third quarter, respectively.

Total revenue from continuing operations in the 2007 third quarter was $85.1 million. This revenue total was down 0.9% from the $85.9 million reported in the 2007 second quarter, and up 10.6% from the 2006 third quarter’s $76.9 million.

For the nine months ended September 30, 2007, ANB’s $60.6 million in income from continuing operations equated to $2.91 in diluted earnings per share, down 5.8% from the $3.09 earned in the first nine months of 2006. Year-to-date revenue for the first nine months of 2007 was $253.7 million, up 13.1% from the 2006 nine months.

ANB’s third quarter 2007 taxable equivalent net interest margin declined to 3.63%, down from the 3.72% reported in the 2007 second quarter. On a year-to-date basis, the 2007 nine months net interest margin of 3.70% was 0.21% below levels for the same period in 2006. Ending loans (excluding loans held for sale) grew $56.5 million during the 2007 third quarter, representing a 4.0% annualized growth rate for the quarter. During the nine months ended September 30, 2007, ending loans grew $305.9 million, representing an annualized growth rate of 7.5%. Ending deposits of $5.68 billion at September 30, 2007 were down slightly from second quarter levels and grew at a 2.8% annualized rate for the first nine months of 2007. Ending total assets at September 30, 2007 were $7.97 billion.

On the credit quality front, ANB recognized $2.7 million in net charge-offs for the 2007 third quarter, representing 0.19% of loans on an annualized basis, bringing the nine month year-to-date annualized net charge-off rate to 0.13%. The company recorded a provision for loan losses of $3.3 million in the 2007 third quarter, up from $1.1 million recorded in the 2006 third quarter. Nonaccrual loans were $20.2 million at quarter end, or 0.35% of total loans. Other real estate owned at September 30, 2007 was $8.0 million, bringing total nonperforming assets to $28.2 million. As a percentage of period-end loans and other real estate owned, nonperforming assets rose to 0.49% as compared with 0.18% in the year ago quarter and 0.32% in the quarter ended June 30, 2007.


The following information was filed by Alabama National Bancorporation on Tuesday, October 23, 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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