allegiancebankbancsharesonel.jpg
PRESS RELEASE    

Allegiance Bancshares, Inc.
8847 West Sam Houston Parkway N., Suite 200
Houston, Texas 77040
ir@allegiancebank.com                                        
ALLEGIANCE BANCSHARES, INC. REPORTS
SECOND QUARTER 2017 RESULTS

Record core loan growth of $363.0 million, or 21.6%, year over year and $118.8 million, or 24.7% (annualized), for the second quarter 2017 compared to the linked quarter

Net interest income increased 14.4% year over year and 4.1% for the second quarter 2017 compared to the linked quarter

Efficiency ratio decreased to 61.92% for the second quarter 2017 from 64.98% for the first quarter 2017

HOUSTON, July 25, 2017. Allegiance Bancshares, Inc. (NASDAQ: ABTX) ("Allegiance"), the holding company of Allegiance Bank (the "Bank"), today reported net income of $5.4 million in the second quarter 2017 compared to $5.3 million in the second quarter 2016 and diluted earnings per share for the second quarter 2017 and 2016 of $0.40.

"We are extremely proud to report another record quarter of high-quality organic loan production," commented George Martinez, Allegiance's Chairman and Chief Executive Officer. "Our linked second quarter core loan growth of $118.8 million represents an annualized increase of 24.7% and reflects the hard work and dedication of our talented team of legacy lenders who, in collaboration with our recently added lenders, continue to build strong relationships in the vibrant Houston market. At the same time, our asset quality continues to be solid with net charge-offs of 0.13%, which reflects our disciplined underwriting," continued Martinez.

"In addition to enhancing our lending team, we have hired key personnel to strengthen our infrastructure and support the operational and regulatory requirements applicable to a larger bank as we pursue our ambitious growth goals. While net income declined in the second quarter 2017 compared to the linked quarter, primarily due to an increased provision for loan loss expense as a result of robust loan growth and prior nonperforming credit relationships, we are pleased to see gains in both efficiency and pre-tax pre-provision earnings in our second quarter 2017 performance,” concluded Martinez.

Second Quarter 2017 Results

Net interest income before provision for loan losses in the second quarter 2017 increased $3.2 million, or 14.4%, to $25.1 million from $21.9 million for the second quarter 2016 primarily due to organic loan growth and an increase in our securities portfolio. Net interest income before provision for loan losses in the second quarter 2017 increased $979 thousand, or 4.1%, from $24.1 million in the first quarter 2017. The net interest margin on a tax equivalent basis decreased 3 basis points to 4.29% for the second quarter 2017 from 4.32% for the second quarter 2016 and decreased 9 basis points from 4.38% for the first quarter 2017.

Noninterest income for the second quarter 2017 was $1.5 million, an increase of $265 thousand, or 21.9%, compared to $1.2 million for the second quarter 2016 and an increase of $136 thousand, or 10.1%, compared to $1.3 million for the first quarter 2017.

Noninterest expense for the second quarter 2017 increased $2.5 million, or 18.2%, to $16.5 million from $13.9 million for the second quarter 2016, and decreased $88 thousand, or 0.5%, from $16.5 million for the first quarter 2017. The increase in noninterest expense over the second quarter 2016 was primarily due to increased professional service fees to support growth initiatives.

In the second quarter 2017, Allegiance’s efficiency ratio decreased to 61.92% from 64.98% for the first quarter 2017 and increased from 60.11% for the second quarter 2016.


1

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