Allegiance Bancshares, Inc. (ABTX) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

Earnings Press Release
10-Q Quarterly Report
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Allegiance Bancshares, Inc.
Ticker: ABTX CIK: 1642081

PRESS RELEASE

Allegiance Bancshares, Inc.

8847 West Sam Houston Parkway N., Suite 200

Houston, Texas 77040

ir@allegiancebank.com

ALLEGIANCE BANCSHARES, INC. REPORTS

FIRST QUARTER 2017 RESULTS


•	Record core loan growth of 17.8% year over year and 5.4% for the first quarter 2017 compared to the linked quarter


•	Net interest income increased 14.4% year over year and 3.0% for the first quarter 2017 compared to the linked quarter


•	Net interest margin on a tax equivalent basis increased six basis points to 4.38% for the first quarter 2017 compared to 4.32% for the linked quarter

HOUSTON, April 25, 2017. Allegiance Bancshares, Inc. (NASDAQ: ABTX) ("Allegiance"), the holding company of Allegiance Bank (the "Bank"), today reported net income of $6.0 million in the first quarter 2017 compared to $6.4 million in the first quarter 2016 and diluted earnings per share for the first quarter 2017 of $0.45 compared to $0.49 in the first quarter 2016. The first quarter 2016 included a $1.3 million after tax gain on the sale of two Central Texas branch locations that were sold in order to focus on the Houston MSA. Excluding the gain on the sale of these branches during the first quarter 2016, net income for the first quarter 2017 increased 20.4% and diluted earnings per share for the first quarter 2017 increased 15.4% compared to the same period in 2016. Net income for the first quarter 2017 increased 4.8% compared to the fourth quarter 2016 and diluted earnings per share for the first quarter 2017 increased 2.3% compared to $0.44 for the fourth quarter 2016.

"We are excited to report another solid quarter driven by a record level of core loan growth that grew at an annualized rate of over 21% in the first quarter. Our continued focus is on leveraging the recruiting successes that we have experienced over the past several quarters. Our success is due in large part to our bankers and to their existing and new customer relationships within the Houston MSA. In addition to adding high quality lenders, we have recruited experienced operations specialists and retained consultants to help us enhance our policies, procedures and infrastructure to position the Bank for continued growth," commented George Martinez, Allegiance's Chairman and Chief Executive Officer.

"Credit quality remains a core foundational strength with key metrics remaining favorable. We continue to monitor current events and economic trends that could impact our market and clients. We are fortunate to be located in Houston where customers are continuing to make investments in the increasingly diversified local economy," concluded Martinez.

First Quarter 2017 Results

First quarter 2017 annualized returns on average assets, average equity and average tangible equity were 0.96%, 8.61% and 10.15%, respectively, compared to 1.19%, 9.70% and 11.67%, respectively, for the first quarter 2016. Excluding the gain on the sale of two Central Texas branch locations that occurred during the first quarter 2016, the annualized returns on average assets, average equity and average tangible equity for the first quarter 2016 would have been 0.94%, 7.67% and 9.22%, respectively. Annualized returns on average assets, average equity and average tangible equity for the fourth quarter 2016 were 0.93%, 8.25% and 9.79%, respectively.

Net interest income before provision for loan losses for the first quarter 2017 increased $3.0 million, or 14.4%, to $24.1 million from $21.1 million for the first quarter 2016 primarily due to organic loan growth and an increase in our securities portfolio. Net interest income before provision for loan losses for the first quarter 2017 increased $706 thousand, or 3.0%, from $23.4 million for the fourth quarter 2016. The net interest margin on a tax equivalent basis decreased 7 basis points to 4.38% for the first quarter 2017 from 4.45% for the

The following information was filed by Allegiance Bancshares, Inc. (ABTX) on Tuesday, April 25, 2017 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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