July 25, 2014 7:45 PM ET

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Company Overview of Alliance Bankshares Corporation

Company Overview

As of December 21, 2012, Alliance Bankshares Corporation was acquired by WashingtonFirst Bankshares Inc. Alliance Bankshares Corporation operates as the holding company for Alliance Bank Corporation that provides commercial and retail banking services in the greater Washington, D.C. metropolitan region. The company’s deposit products include demand, NOW, money market, and savings accounts, as well as certificates of deposit. It also offers loans to small businesses and middle market companies, professionals, home builders and commercial real estate developers, commercial real estate investors, and consumers. The company’s loans portfolio comprises lines of credit, revolving credit facilitie...

14200 Park Meadow Drive

Suite 200 South

Chantilly, VA 20151

United States

Founded in 1996

58 Employees

Phone:

703-814-7200

Fax:

703-378-7210

Key Executives for Alliance Bankshares Corporation

Alliance Bankshares Corporation does not have any Key Executives recorded.

Alliance Bankshares Corporation Key Developments

Alliance Bankshares Corporation(NasdaqGM:ABVA) dropped from NASDAQ Composite Index

Alliance Bankshares Corporation will be removed from NASDAQ Composite Index

Alliance Bankshares Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended Sep. 30, 2012

Alliance Bankshares Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended Sep. 30, 2012. For the quarter, the company's total interest income was $4,170,000 compared to $5,398,000 a year ago. Net interest income was $3,071,000 compared to $4,042,000 a year ago. Loss before income taxes was $326,000 compared to $806,000 a year ago. Net loss was $170,000 or $0.03 per basic and diluted share compared to $503,000 or $0.10 per basic and diluted share a year ago. Results during the quarter were primarily impacted by reduced interest income, merger-related expenses, OREO expenses and valuation write-downs, and a negative adjustment to the $25 million FHLB advance carried at fair value, the total of which offset gains on the sale of investment securities and favorable reductions in non-interest expenses, interest expense and the provision for loan losses. For the nine months, the company's total interest income was $13,154,000 compared to $17,053,000 a year ago. Net interest income was $9,621,000 compared to $12,733,000 a year ago. Loss before income taxes was $1,749,000 compared to income before income taxes of $326,000 a year ago. Net loss was $1,522,000 or $0.30 per diluted share compared to net income of $256,000 or $0.05 per diluted share a year ago. Book value per share as on Sep. 30, 2012 was $5.30 compared to $6.60 as on Sep. 30, 2011.

Alliance Bankshares Corporation, Special/Extraordinary Shareholders Meeting, Dec 19, 2012

Alliance Bankshares Corporation, Special/Extraordinary Shareholders Meeting, Dec 19, 2012., at 14:00 Eastern Standard Time. Location: Hyatt Fair Lakes, 12777. Agenda: To consider merger of Alliance Bankshares Corporation and into WashingtonFirst Bankshares, Inc.

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