Allegiance bancshares, inc. reports strong results for the third quarter 2021

Houston, oct. 28, 2021 (globe newswire) -- allegiance bancshares, inc. (nasdaq: abtx) (allegiance), the holding company of allegiance bank (the "bank"), today reported record net income of $19.1 million and diluted earnings per share of $0.93 for the third quarter 2021 compared to net income of $16.2 million and diluted earnings per share of $0.79 for the third quarter 2020. net income for the nine months ended september 30, 2021 was $60.0 million, or $2.95 per diluted share, compared to $29.6 million, or $1.44 per diluted share, for the nine months ended september 30, 2020. the third quarter ended september 30, 2021 results were driven by increased net interest income and an increased provision for credit losses compared to the third quarter 2020. the nine months ended september 30, 2021 results were primarily due to a lower provision for credit losses and increased net interest income driven by lower funding costs compared to the nine months ended september 30, 2020.
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