Exhibit 99.1
NEWS RELEASE
         
FOR IMMEDIATE RELEASE
  CONTACT:   William E. Doyle, Jr.
July 26, 2011
      (703) 814-7200
Alliance Bankshares Reports 2nd Quarter 2011 Results
Sixth Consecutive Quarter of Profitability
CHANTILLY, VA — Alliance Bankshares Corporation (NASDAQ — ABVA) today reported second quarter 2011 net income of $394,000, an increase of 106% over the $191,000 net income recorded for the second quarter of 2010. This represents income of $.08 per share versus $.04 for the same period in 2010. For the six month period ended June 30, 2011, net income rose to $759,000, or $.15 per share, versus $305,000, or $.06 per share, for the six month period ended June 30, 2010. Alliance’s regulatory capital ratios are strengthened since December 31, 2010, and remain above the levels necessary to be considered a “well capitalized” institution.
“We are pleased to report our sixth consecutive quarter of profitability,” noted William E. Doyle, Jr., President and Chief Executive Officer. “Opportunistic gains taking in the investments portfolio, combined with continued attention to non-interest expense management, served to offset reduced net interest income and higher costs associated with managing credit. Progress continues in repositioning the loan portfolio to reduce risks related to specific market segments and types of loans. New loan production achieved during the quarter offset scheduled amortization and targeted payouts, providing for a modest increase in the loan portfolio compared to the first quarter 2011.”
At June 30, 2011, total assets amounted to $536.0 million or a decline of $2.5 million compared to the December 31, 2010 level of $538.5 million. As of June 30, 2011, total loans were higher by $1.9 million from the March 31, 2011 level of $319.6 million but remained $10.8 million below the December 31, 2010 level of $332.3 million. Investment securities amounted to $109.0 million as of June 30, 2011, a decline of $26.9 million from the December 31, 2010 level of $135.9 million.
The nonperforming assets at June 30, 2011 amounted to $16.0 million, compared to $9.4 million at December 31, 2010. While modestly reduced from March 31, 2011 levels, NPAs remain above December 31, 2010 levels due to specific credit situations described in the prior quarter earnings release. The allowance for loan losses remained unchanged at $5.6 million, or 1.75% of loans after second quarter charged-off loans totaled $769,000, net of minimal recoveries.
Continued efforts to manage expenses have resulted in a decline in noninterest expense of $647,000 on a quarterly comparative basis, and nearly $1.5 million when comparing the respective six month period. Our net interest margin improved to 3.86% for the second quarter. This level is artificially depressed due to nonaccrual interest income reversals of $117,000.

 


The following information was filed by Alliance Bankshares Corp (ABVA) on Monday, August 1, 2011 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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