Stockguru.com: Allegiance Bank of North America is in the StockGuru Spotlight for October 19, 2009

DALLAS, TEXAS : StockGuru announces that Allegiance Bank of North America (OTCBB: ABPA) is in the StockGuru Spotlight. Allegiance Bank is headquartered in Bala Cynwyd, with offices in Berwyn, King of Prussia, Old City and Worcester. Allegiance Bank offers a package of services beyond traditional bank offerings, such as Allegiance University's free educational classes for customers and community members.

On Friday, the company put out news announcing a net loss of $519,000, or $0.11 per share, for the third quarter of 2009, compared to a net loss of $670,000, or $.14 per share for the third quarter of 2008. The Bank continued its efforts to reduce non-performing loans during the third quarter of 2009. The $7.4 million balance of non-performing loans at September 30, 2009 was $2.8 million, or 28%, less than the balance at June 30, 2009 as a result of the sale of the Paramount Mortgage and Capital, LLC (Paramount) loan portfolio, the sale of one Bank non-performing loan and loan charge-offs to adjust non-performing loans fair value. As previously disclosed, during the first half of 2009, the Bank initiated a strategy to significantly reduce its non-performing loans by reclassifying its Paramount loan portfolio from "loans receivable" to "loans held for sale."

Shares for Allegiance Bank of North America (OTCBB: ABPA) were down during the day of trading on Friday and closed down forty three cents at closing.

To view our StockGuru Spotlight on Allegiance Bank of North America (OTCBB: ABPA), please visit: http://www.stockguru.com

What is the StockGuru Spotlight?

The StockGuru Spotlight features stocks that we expect some action in. Generally speaking we expect a strong showing in the market based on the market, our knowledge of the stock and the buzz in the markets. Many times these will be stocks that have big news out recently, there is fresh interest in getting the word out on these stocks or we hear a buzz in our day to day contacts on these stocks. If we think it is going to move or see action, we put it in the StockGuru Spotlight. If we are compensated for a stock in the Spotlight, it will be clearly disclosed within this Spotlight Announcement.

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