ALABAMA NATIONAL BANCORPORATION REPORTS RECORD EARNINGS.

SHOAL CREEK, Ala.--(BUSINESS WIRE)--Oct. 18, 1995--Alabama National BanCorporation (Nasdaq/NM:ALAB) today announced record earnings for the third quarter ended September 30, 1995. Net income increased 41% over the third quarter of 1994 to $1.2 million, up from $852,000. Earnings were $0.35 per share for both this quarter and the same quarter last year. The Company had approximately 40% more shares outstanding during the 1995 quarter.

Net income for the first nine months of 1995 increased 39% over the first nine months of 1994 to $3.3 million from $2.4 million. Earnings per share decreased from $0.97 to $0.96 per share on a 40% increase in shares outstanding from period to period.

The increase in the number of shares for the third quarter and the nine months was due primarily to the Company's initial public offering of one million shares of common stock in November 1994.

Total assets increased to $295 million up from $271 million a year ago. Loans increased $13.5 million from a year ago while the Company's net interest margin increased 54 basis points to 5.61% compared to 5.07% for the nine months ended September 30, 1994. Tangible book value per share at September 30, 1995, was $8.31 compared to $6.68 a year earlier.

James A. Taylor, chairman and chief executive officer said, "We are very pleased with the results of the first nine months. Significant internal growth coupled with an improved net interest margin allowed our earnings to remain strong."

Taylor added, "Our return on average assets increased to 1.57% compared to 1.18% for the first nine months of 1994, while return on average equity declined to 14.09% from 15.93% as a result of our payment of all of our outstanding long-term indebtedness in the fourth quarter of 1994. Our efficiency ratio improved over the first nine months of 1994 by falling from 69.37% to 60.71% this nine months. Asset quality remained excellent as the allowance for loan losses to period-end non-performing assets was increased to 226% from 148%. Net charge-offs to average loans remained extremely low at 0.09% on an annualized basis. Although asset quality improved, the allowance for loan losses grew to 1.37% of net loans from 1.34% of net loans a year earlier."

On June 2, 1995, the Company announced that it had entered into a definitive agreement to merge with National Commerce Corporation and Commerce Bankshares, Inc., the parent companies of National Bank of Commerce of Birmingham and Talladega Federal Savings and Loan Association. The Company filed a registration statement for the merger with the Securities and Exchange Commission on September 21, 1995. The Company expects the Federal Reserve Board to approve the application to merge on or before December 1, 1995. The merger is subject to both SEC and Federal Reserve approval, as well as approval of the stockholders of the Company and each of National Commerce Corporation and Commerce Bankshares, Inc. The transaction is expected to close by year end. If consummated, the merger will result in the Company becoming the sixth largest bank holding company in Alabama.

Alabama National BanCorporation is a $295 million bank and thrift holding company headquartered in Shoal Creek, Alabama. The Company operates through six community banks with 12 locations primarily in central and southern Alabama. Subsidiaries include Gulf Bank in Orange Beach, Alabama, with a branch in Foley, Alabama; Alabama Exchange Bank in Tuskegee, Alabama; Bank of Dadeville, in Dadeville, Alabama, with branches in Camp Hill and Jackson's Gap, Alabama; First National Bank of Ashland, in Ashland, Alabama, with a branch in Lineville, Alabama; Citizens Bank of Talladega in Talladega, Alabama; and St. Clair Federal Savings Bank in Pell City, Alabama, with branches in Springville and Moody, Alabama. The Company provides full banking services to individuals and small businesses that prefer local bank decision making and personalized service. -0-

                  ALABAMA NATIONAL BANCORPORATION
                   Unaudited Financial Highlights
              (In Thousands, Except per Share Amounts)

                            Three Months Ended  Nine Months Ended
                               September 30,       September 30,
                              1995      1994      1995       1994
Net interest income         $ 3,594   $ 3,221   $10,712    $ 9,328
Provision for loan losses       213        56       334        110
Net securities gains              5        18        17         50
Non-interest income             688       644     2,168      2,054
Non-interest expense          2,426     2,607     7,820      7,896
Income before
 income taxes                 1,648     1,220     4,743      3,426
Income taxes                    446       368     1,416      1,041
Net income                  $ 1,202   $   852   $ 3,327    $ 2,385
Earnings per share          $   .35   $   .35   $   .96    $   .97
Average shares outstanding    3,454     2,459     3,454      2,460

                                September 30,      September 30,
                                    1995               1994
Assets                            $294,898           $271,028
Earning assets                     265,371            245,505
Securities                          52,429             54,901
Loans                              198,780            185,241
Allowance for loan losses            2,729              2,483
Deposits                           252,960            234,357
Long-term debt                           -              6,667
Unrealized securities gains
 (losses), net of taxes                 32               (161)
Stockholders' equity                33,078             20,988

CONTACT: Alabama National BanCorporation, Shoal Creek

Frank W. Whitehead, 205/995-8526