ALLEGIANCE BANC CORPORATION
10-Q/A, 1995-07-11
STATE COMMERCIAL BANKS
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FORM  10-Q/A
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.   20549


For Quarter Ended   March 31, 1995

Commission file number      0-16706       


Allegiance Banc Corporation                                           
(Exact name of registrant as specified in its charter)

Delaware                                     52-1494123                       
(State or other jurisdiction of              (IRS employer identification
incorporation or organization)                 number)

4719 Hampden Lane, Bethesda, MD                20814
(Address of principal executive offices)    (Zip Code)

Registrant's telephone number, including area code       (301)  656-5300      



Indicate by check mark whether the registrant (1)
has filed all reports required to be filed by
section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was
required to file such reports), and (2) has been
subject to such filing requirements for the past 90
days.    Yes      X      No          



Indicate the number of shares outstanding of
each of the issuer's classes of common stock:

                          Class                              
     Outstanding at March 31, 1995         
     Common Stock, $1.00 par value                
               1,695,863 shares


         ALLEGIANCE BANC CORPORATION



         ALLEGIANCE BANC CORPORATION



                    INDEX
                                                              
                                      Page
                                                              
                                    Number

PART I.  FINANCIAL INFORMATION
   
    Item 1.  Financial Statements

    Consolidated Balance Sheets
    March 31, 1995 and December 31, 1994
    (Unaudited)    ..................................3

    Consolidated Statements of Income
    Three months ended March 31, 1995 and 1994
    (Unaudited)    .................................. 4

    Consolidated Statement of Cash Flows
    Three months ended March 31, 1995 and 1994
    (Unaudited)    .................................. 5

    Notes to Financial Statements   ................. 6

    Item 2.  Management's Discussion and Analysis of
             Financial Condition and Results of Operations.....7  


PART II.  OTHER INFORMATION ................................. 12
PART III. EXHIBITS
    EXHIBIT 27:  Financial Data Schedule, Electronic only -- not in
                          paper filing   .................... N/A
SIGNATURES  ..................................................13

                      SIGNATURES




Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



Allegiance Banc Corporation
(Registrant)


DATE:    July 10, 1995
                            Stephen C. Jones                                  
      
                            Stephen C. Jones , Controller
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 9
<CIK> 807522
<NAME> ALLEGIANCE BANC CORP.
       
<S>                             <C>
<PERIOD-TYPE>                   QTR-1
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               MAR-31-1995
<CASH>                                         5339047
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                               3800000
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    9547880
<INVESTMENTS-CARRYING>                        18560221
<INVESTMENTS-MARKET>                          17355179
<LOANS>                                       67683376
<ALLOWANCE>                                     943160
<TOTAL-ASSETS>                               108266627
<DEPOSITS>                                    94461893
<SHORT-TERM>                                   1651229
<LIABILITIES-OTHER>                             347393
<LONG-TERM>                                    1000000
<COMMON>                                       1695863
                                0
                                          0
<OTHER-SE>                                     9110249
<TOTAL-LIABILITIES-AND-EQUITY>               108266627
<INTEREST-LOAN>                                1650444
<INTEREST-INVEST>                               437686
<INTEREST-OTHER>                                 29114
<INTEREST-TOTAL>                               2117244
<INTEREST-DEPOSIT>                              803893
<INTEREST-EXPENSE>                              839968
<INTEREST-INCOME-NET>                          1277276
<LOAN-LOSSES>                                 (100000)
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                1393317
<INCOME-PRETAX>                                 128241
<INCOME-PRE-EXTRAORDINARY>                      128241
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     84339
<EPS-PRIMARY>                                      .05
<EPS-DILUTED>                                      .05
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                     992000
<LOANS-PAST>                                    167000
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               1031000
<CHARGE-OFFS>                                     9000
<RECOVERIES>                                     21000
<ALLOWANCE-CLOSE>                               943000
<ALLOWANCE-DOMESTIC>                            943000
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                         448000
        

</TABLE>


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