Alabama National BanCorporation Completes Merger.

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jan. 4, 1999--Alabama National BanCorporation ("ANB"), (NASDAQ/NM: ALAB), headquartered in Birmingham, Alabama, and Community Bank of Naples, N.A., located in Naples, Florida ("CBN"), today announced the December 31, 1998 consummation of ANB's acquisition through merger of CBN. Under the merger structure, CBN will continue to operate under its existing name and management.

Community Bank of Naples had total assets of approximately $83 million at September 30, 1998 and operates one location in Naples, Florida.

Alabama National BanCorporation common stock is traded on the NASDAQ/National Market System under the symbol "ALAB." It is the sixth largest bank holding company headquartered in Alabama, operating 34 locations in Alabama, five in Florida, and four in Georgia through ten bank subsidiaries. With the completion of the CBN merger and the October 1998 merger of Community Financial Corporation of Mableton, Georgia, Alabama National's assets total approximately $1.7 billion.

The lead bank subsidiary for ANB is Birmingham-based National Bank of Commerce of Birmingham ("NBC"). Other Alabama subsidiaries are: First American Bank in Decatur; First Citizens Bank, N.A. in Talladega; Bank of Dadeville; Alabama Exchange Bank in Tuskegee and First Gulf Bank in Baldwin County. Florida subsidiaries include: Citizens & Peoples Bank, N.A., in Pensacola; Community Bank of Naples, N.A. and Public Bank in St. Cloud. ANB has one subsidiary in Georgia, Georgia State Bank of Mableton. ANB provides full banking services to individuals and businesses that prefer local bank decision-making and personalized service. Brokerage services are provided to customers through NBC's wholly-owned subsidiary, NBC Securities, Inc.