Alliance Bank & Trust Company Announces 2008 First Quarter 2008 Earnings.

GASTONIA, N.C. -- Alliance Bank & Trust (OTCBB: ABTN) reported net income of $112,000 or $0.04 per diluted share for the quarter ending March 31, 2008, compared to a first quarter income of $206,000 in 2007.

Net interest income for the 3 month ending March 31, 2008 was $1,208,000, an increase of $126,000 or 12 percent over the 3 months ending March 31, 2007.

Assets at March 31, 2008 were $157,227,000, an increase of $35,751,000 or 29 percent over the $121,476,000 in assets reported at March 31, 2007. Loans totaled $128,787,000 at March 31, 2008, an increase of 40 percent over March 31, 2007.

Alliance Bank & Trust (www.alliancebankandtrust.com) specializes in serving the banking needs of small businesses, professionals and individuals in and around Cleveland and Gaston counties. Alliance Bank & Trust is a North Carolina state-chartered full service community bank. Member FDIC.

This press release contains forward-looking statements regarding future events. These statements are only predictions and are subject to risks and uncertainties that could cause actual events or results to differ materially. These risks and uncertainties include risks of managing our growth, substantial changes in financial markets, regulatory changes, changes in interest rates, loss of deposits and loan demand to other financial institutions, and changes in real estate values and the real estate market. Additional information concerning factors that could cause actual results to be materially different from those in the forward-looking statements is contained in the Company's filings with the Federal Deposit Insurance Corporation. Alliance Bank & Trust Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.