The PL Capital Group Announces the Nomination of Howard Henick to Serve as a Director of Alliance Bancorp, Inc. of Pennsylvania

NAPERVILLE, Ill., Nov. 19, 2013 /PRNewswire/ -- The PL Capital Group is pleased to announce the nomination of Howard Henick to serve as a director of Alliance Bancorp, Inc. of Pennsylvania (Nasdaq: ALLB), in opposition to a director nominee who will be nominated by Alliance Bancorp.  It is expected that Alliance Bancorp's 2014 Annual Meeting of Shareholders will be held in April 2014.  The PL Capital Group beneficially owns 9.2% of Alliance Bancorp's outstanding common stock.   Mr. Henick and his affiliates beneficially own 0.8% of Alliance Bancorp's outstanding common stock.  The PL Capital Group plans to file proxy materials with the Securities and Exchange Commission asking for shareholders to vote for the PL Capital Group's nominee, Mr. Henick, on the WHITE proxy card.

PL Capital Group principal John Palmer added, "Howard is a superb candidate. He has over 30 years of relevant experience as a lawyer and financial executive primarily dealing with banks and thrifts throughout the U.S.  We believe he will make a great addition to the Alliance Bancorp board of directors."

PL Capital Group principal Richard Lashley noted, "We are pursuing this course of action because we want to take steps to maximize the long-term value of Alliance Bancorp for all shareholders.  To this end, we had requested a board seat, but the CEO and board of directors refused PL Capital's request.  While our preference was for Alliance Bancorp to avoid the expense and distraction associated with a proxy contest, we believe it is in the best interests of all shareholders to have new representation on the board."

Alliance Bancorp is a $436 million in assets bank headquartered in Broomall, Pennsylvania.  The PL Capital Group is a group of investment entities dedicated to managing investments in U.S. community banks and thrifts.

Mr. Henick is a member of SD Capital Partners, LLC.  SD Capital Partners, LLC is the general partner of SD Financial Institutions and Value Opportunity Fund, LP (the "SD Fund"), an investment fund specializing in U.S. community banks and thrifts.  Mr. Henick serves as an Equity Portfolio Manager at ScurlyDog Capital, LLC, the investment advisor to the SD Fund.

Important Information

This press release is not a solicitation of a proxy from any security holder of Alliance Bancorp, Inc. of Pennsylvania (the "Company").  PL Capital, LLC managing member Richard Lashley has nominated Howard Henick as nominee to the Company's board of directors and the PL Capital Group intends to solicit votes for the election of Mr. Henick to the board.   The PL Capital Group (whose members are identified below) will send a definitive proxy statement, WHITE proxy card and related proxy materials to shareholders of the Company seeking their support for Mr. Henick at the Company's 2014 Annual Meeting of Shareholders.  Shareholders are urged to read the definitive proxy statement and WHITE proxy card when they become available, because they will contain important information about the PL Capital Group, Mr. Henick, the Company and related matters.  Shareholders may obtain a free copy of the definitive proxy statement and WHITE proxy card (when available) and other documents filed by the PL Capital Group with the Securities and Exchange Commission ("SEC") at the SEC's web site at www.sec.gov.  The definitive proxy statement (when available) and other related SEC documents filed by the PL Capital Group with the SEC may also be obtained free of charge from the PL Capital Group.

Participants in the Solicitation

The PL Capital Group currently consists of the following:  PL Capital, LLC;  Goodbody/PL Capital, LLC;  Financial Edge Fund, L.P.;  Financial Edge-Strategic Fund, L.P.;  PL Capital/Focused Fund, L.P.;  Goodbody/PL Capital, L.P.;  PL Capital Advisors, LLC;  Richard J. Lashley;  Beth R. Lashley;  Dr. Robin Lashley;  John W. Palmer;  Lashley Family 2011 Trust;  Caitlin Anne Lashley 2010 Trust;  Danielle Morgan Lashley 2010 Trust.  Mr. Henick and his affiliates currently consist of the following: Howard Henick;  ScurlyDog Capital, LLC;  SD Capital Partners, LLC;  and SD Financial Institutions and Value Opportunity Fund, LP.  All of the above will be participants in the solicitation from the Company's shareholders of proxies in favor of Mr. Henick's election to the board of directors of Alliance Bancorp at the 2014 Annual Meeting.  Such participants may have interests in the solicitation, including as a result of holding shares of the Company's common stock.  This press release is being filed with the SEC under Rule 14a-12 of the Securities Exchange Act of 1934.  Information regarding the participants and their interests may be found in the Notice of Intent to Nominate Director and Submit Nominee for Election Mr. Lashley sent to the Company on November 19, 2013, which is attached to the filing and is incorporated by reference into the filing.

SOURCE PL Capital Group