BCB Community Bank and Allegiance Community Bank to Merge

BCB Bancorp, Inc. BCBP and Allegiance Community Bank jointly announced today the signing of a definitive merger agreement. Under the terms of the agreement ACB will merge with and into BCBP's subsidiary BCB Community Bank. ACB stockholders will receive 0.35 shares of BCBP for each share of ACB. The Exchange Ratio may be adjusted under certain circumstances. The merger will add approximately $120 million in assets to BCBP's $1.1 billion asset base and will add two branch locations to BCBP's branch network. Management expects the merger to be accretive to BCBP's 2012 earnings per share.