Allegiant Bancorp, Inc. and Allegiant Capital Trust I Announce Second Quarter Dividend On Trust Preferred Securities.

Business Editors

ST. LOUIS--(BUSINESS WIRE)--June 18, 2002

Allegiant Bancorp, Inc. ("Allegiant") (Nasdaq:ALLE) and its subsidiary, Allegiant Capital Trust I (the "Trust"), (AMEX Market symbol ACT.Pr) today announced the payment of the dividend on the Trust's 9.875% Cumulative Trust Preferred Securities. The dividend of $0.2469 per trust preferred security, liquidation amount $10 per security, is payable on July 1, 2002 to record holders at the close of business on June 17, 2002.

Allegiant is the largest bank holding company exclusively serving the St Louis, Missouri market. Allegiant, headquartered in St. Louis, Missouri and the holding company of Allegiant Bank, Bank of Ste. Genevieve and State Bank of Jefferson County, offers full-service community banking, wealth management and personal trust services to individuals, businesses and municipalities through our 39 full-service banking locations in the St. Louis, Missouri metropolitan area. Our services include commercial, real estate and installment loans, checking, savings and time deposit accounts, personal trust and other fiduciary services and other financial services such as securities brokerage, insurance and safe deposit boxes.

As of March 31, 2002, Allegiant reported, on a consolidated basis, total assets of $2.2 billion, loans of $1.4 billion, deposits of $1.6 billion and shareholders' equity of $144 million.