Alabama National BanCorporation Announces Executive Promotions.

Business Editors

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Dec. 22, 2000

Alabama National BanCorporation ("ANB") (NASDAQ/NM: ALAB) and its wholly owned National Bank of Commerce of Birmingham ("NBC") subsidiary announced a realignment of management duties today.

"In the last five years, Alabama National has approximately tripled in size, while continuing to have a very strong performance record," said John H. Holcomb, III, Chairman and CEO. "As we look to the future and continue to grow, we need to ensure that we maximize the use of our management depth and talent."

Alabama National's management realignments include the promotion of Victor E. Nichol, Jr., to Vice Chairman. Dan M. David, Chairman and CEO of ANB's subsidiary, First American Bank of Decatur, Alabama, will continue to serve as Vice Chairman of ANB, along with Nichol. "Alabama National is unusually fortunate to have two such capable leaders as Vic Nichol and Dan David serving as Vice Chairmen of our company," said Holcomb. Nichol, who has over 30 years experience in the banking industry, was also promoted to Vice Chairman of NBC.

In other changes, Richard Murray, IV, was named President and Chief Operating Officer of Alabama National. Both Nichol and Murray will serve as members of a newly formed Executive Committee, along with Holcomb, David, and Executive Vice President and Chief Financial Officer William E. Matthews, V. Matthews will coordinate strategic planning and, along with Nichol, will have responsibility for the wealth management areas of the company.

Executive Vice President John R. Bragg was given responsibility for ANB's operations, technology, and sales delivery systems. "As we evolve as a financial services company, our ability to seek and to fulfill customer needs is of crucial importance," said Holcomb. "John Bragg's experience and management background should enable us to become more successful in meeting our customers' needs."

National Bank of Commerce announced the promotion of William G. Sanders, Jr., to President and Chief Operating Officer, with Holcomb continuing as NBC's CEO. "Mr. Sanders has been with the company for approximately 14 years, and in that time period, he has successfully managed a number of areas," said Holcomb. "In addition to serving as head of our real estate lending function, he has been responsible for two of our subsidiary banks. His leadership and talents will greatly benefit NBC."

NBC also announced additional responsibilities for Executive Vice President Robert B. Aland. In addition to becoming the executive in charge of all lending at NBC, Aland will have responsibility for NBC Leasing Company and the retail bank, including all 15 of NBC's branches in Jefferson, Shelby and St. Clair Counties.

"I am very pleased with the way our management group has worked together as a team over the past several years, and I am excited about this new management structure," said Holcomb. "It is important for us to constantly examine ways to best utilize our resources and to drive our company forward so that we attain our goal of maximizing share owner value."

ANB is a $2.2 billion bank holding company operating 49 locations through ten bank subsidiaries in Alabama, Florida and Georgia. The lead bank subsidiary for the holding company is Birmingham-based National Bank of Commerce (NBC). Other Alabama subsidiaries include: First American Bank in Decatur/Huntsville; First Citizens Bank in Talladega; Bank of Dadeville; Alabama Exchange Bank in Tuskegee and First Gulf Bank in Baldwin County. Florida subsidiaries are: Citizens & Peoples Bank, N.A. in Pensacola; Community Bank of Naples, N.A. and Public Bank in metropolitan Orlando. ANB has one subsidiary in Georgia, Georgia State Bank in metropolitan Atlanta. ANB provides full banking services to individuals and businesses. Brokerage services are provided to customers through NBC's wholly owned subsidiary, NBC Securities, Inc. Investments are not bank guaranteed, not FDIC insured and may lose value. Insurance services are provided through Rankin Insurance, Inc., a wholly owned subsidiary of First American Bank.

During the third quarter, ANB announced the signing of a definitive agreement providing for the acquisition of Peoples State Bank of Groveland, Florida, by ANB. Peoples State Bank has assets of approximately $120 million. The consummation of this transaction, which is subject to certain conditions, should occur in the first quarter of 2001.

ANB common stock is traded on the NASDAQ/National Market System under the symbol "ALAB."

Statements contained in this press release which are not historical facts are forward-looking statements. In addition, ANB, through its senior management, may make from time to time forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of ANB's senior management based upon current information and involve a number of risks and uncertainties. Certain factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by ANB with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of ANB or its senior management should be considered in light of those factors. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.