Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE February 3, 2011		CONTACT:		William E. Doyle, Jr. Paul M. Harbolick, Jr. (703) 814-7200

Alliance Bankshares Reports 2010 Results

Significant progress achieved on repositioning activities in 2010

CHANTILLY, VA — Alliance Bankshares Corporation (NASDAQ — ABVA) today reported fourth quarter net income of $158,000. For the full year of 2010, the Company has earned $705,000, representing a significant improvement over the 2009 results when the Company reported a loss on continuing operations of $3.7 million and a loss of $4.4 million after discontinued operations. Alliance’s regulatory capital ratios remain above the levels necessary to be considered a “well capitalized” financial institution.

“We are very pleased with the significant performance improvement generated in 2010. As I have indicated in shareholder letters, press releases and regulatory filings, 2010 was a key transition period for Alliance. Our team has focused significant energies on repositioning the Company. Many of the key indicators such as lower levels of non-performing assets, an improved net interest margin, a meaningful decrease in operating expenses and positive net income reflect our progress. Internally, we monitor our core earnings performance very closely and I am pleased to report significant improvement in that key metric as well,” said William E. Doyle, Jr., President and Chief Executive Officer. The Company’s 2011 focus remains on reducing nonperforming assets, improving core operations and optimizing profitability, while investing in the future. “I believe Alliance is in a strong position to grow and serve our community. Our commercial banking team is very focused on small to medium sized businesses. We offer a broad array of loan products, including real estate financing, and design our products to meet the financing needs of our clients and prospects. Our continued commitment to this key market segment provides needed credit in the marketplace while adding strong client relationships,” further added Doyle.

At December 31, 2010, total assets amounted to $538.5 million, a decline of $37.8 million compared to the December 31, 2009 level of $576.3 million. As of December 31, 2010, total loans were down $27.1 million from the December 31, 2009 level of $359.4 million. Investment securities amounted to $135.9 million as of December 31, 2010, a decline of $9.1 million from the December 31, 2009 level of $145.0 million. A key part of our 2010 repositioning strategy has been focused on rightsizing the balance sheet, adjusting the asset mix and driving down the cost of funding on deposits and other liabilities. We have tactically reduced certain types of real estate loans and the size of the investment portfolio. The longer-term objective is to grow small business commercial loans and owner occupied commercial real estate portfolios.

The nonperforming asset levels saw significant improvement in 2010. In 2010, we began the year with $13.5 million of nonperforming assets or 2.34% of total assets. Our diligent and focused efforts on nonperforming assets and tight monitoring of credit yielded positive results. We ended 2010 with $8.9 million in nonperforming assets or 1.66% of total assets. A significant amount of OREO was sold or liquidated in 2010. As of December 31, 2010 our OREO was $4.6 million or 51.8% of total nonperforming assets. This includes three properties with a carrying value of $3.4 million which will require longer term workouts.

Net income for the fourth quarter of 2010 was $158,000, an improvement of $1.7 million over the same period last year. The quarter’s results reflect the continuing impact of credit costs, OREO expenses, and fair value adjustments, as well as opportunistic gains realized from the securities portfolio. The progressive positive improvement is also reflected in our net interest margin. On a “core operating basis,” the Company’s performance during the quarter indicates measurable improvement. “Core earnings,” i.e., before expenses for taxes, provision, and OREO, fair value adjustments and gains on securities sales, were a positive $269,000 compared to a negative $1.2 million in the fourth quarter of 2009.

Net income for the full year of 2010 was $705,000, compared to a loss of $3.7 million for the full year of 2009. “Core earnings” for the full year of 2010 were a positive $1.9 million, compared to a negative $2.0 million for 2009. The dramatic shift is clearly related to the improving credit quality, lower deposit and liability costs and other repositioning actions. In 2010, the Company’s net interest margin improved significantly to a level of 3.79%.

Presentation. The Company prepares its financial statements under accounting principles generally accepted in the United States or “GAAP.” However, this press release refers to certain non-GAAP financial measures that we believe, when considered together with GAAP financial measures, provides investors with important information regarding our operational performance. An analysis of any non-GAAP financial measure should be used in conjunction with the results presented in accordance with GAAP.

Core earnings is a non-GAAP financial measure that reflects net income excluding taxes, loan loss provisions, OREO expenses, gains or losses on security transactions and fair value adjustments. These excluded items fluctuate and are difficult to predict and we believe core earnings provides the Company and investors a valuable tool to measure and evaluate the financial performance of the Company from period to period.

Cautionary Statement Regarding Forward-Looking Statements. Certain statements contained in this report that are not historical facts may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements can generally be identified by the use of words such as “may,” “will,” “should,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend” or words of similar meaning. These statements are inherently uncertain; there can be no assurance that the underlying assumptions will prove to be accurate. These

forward-looking statements include statements relating to the Company’s anticipated future performance, mix of assets and liabilities and effects of efforts to reposition its business. Readers should not place undue reliance on such statements, which speak only as of the date of this release. The Company does not undertake to update any forward-looking statement that may be made from time to time by it or on its behalf.

Forward-looking statements are subject to risks, assumptions and uncertainties, and could be affected by many factors. Some factors that could cause the Company’s actual results to differ materially from those anticipated in these forward-looking statements include: interest rates, general business conditions, as well as conditions within the financial markets, general economic conditions, unemployment levels, the legislative/regulatory climate, including the effect of the Dodd-Frank Wall Street Reform Act and Consumer Protection Act of 2010 and related regulations, regulatory compliance costs, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve, the quality/composition of the loan portfolios and the value of related collateral, the value of securities the Company holds, charge-offs on loans and the adequacy of the allowance for loan losses, loan demand, deposit flows, counterparty strength, competition, reliance on third parties for key services, the health of the real estate markets, the outcome of the Company’s repositioning initiatives, and changes in accounting principles.

More information on Alliance Bankshares Corporation can be found online at
www.alliancebankva.com, or by phoning an Alliance office.

###

ALLIANCE BANKSHARES CORPORATION

Consolidated Balance Sheets

		December 31				December 31,
		2010*				2009
		(Dollars in thousands)
ASSETS
Cash and due from banks		$	24,078			$	26,671
Federal funds sold			17,870				2,970
Trading securities, at fair value			2,075				7,460
Investment securities available-for-sale, at fair value			135,852				145,031
Restricted stock			6,355				6,318
Loans held for sale			—				1,983
Loans, net of unearned discount and fees			332,310				359,380
Less: allowance for loan losses			(5,281	)			(5,619	)
Loans, net			327,029				353,761
Premises and equipment, net			1,584				2,038
Other real estate owned (OREO)			4,627				7,875
Intangible assets			—				—
Goodwill			—				—
Other assets			19,041				22,228
TOTAL ASSETS		$	538,511			$	576,335
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits		$	124,639			$	92,846
Savings and NOW deposits			56,569				53,617
Money market deposits			25,524				22,462
Time deposits ($0 and $9,125 at fair value)			200,211				262,983
Total deposits			406,943				431,908
Repurchase agreements, federal funds purchased and other borrowings			43,153				47,290
Federal Home Loan Bank advances ($26,208 and $25,761 at fair value)			41,208				50,761
Trust Preferred Capital Notes			10,310				10,310
Other liabilities			3,212				2,932
Commitments and contingent liabilities			—				—
TOTAL LIABILITIES			504,826				543,201
Common stock, $4 par value; 15,000,000 shares authorized; 5,106,819 and 5,106,819 shares issued and outstanding at December 31, 2010 and December 31, 2009, respectively			20,427				20,427
Capital surplus			25,857				25,835
Retained (deficit)			(12,311	)			(13,016	)
Accumulated other comprehensive loss, net			(288	)			(112	)
TOTAL STOCKHOLDERS’ EQUITY			33,685				33,134
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	538,511			$	576,335

ALLIANCE BANKSHARES CORPORATION

Consolidated Income Statements

		Three Months Ended				Three Months Ended				Twelve Months Ended				Twelve Months Ended
		December 31,				December 31,				December 31,				December 31,
		2010*				2009*				2010*				2009
		(Dollars in thousands, except per share)
INTEREST INCOME:
Loans		$	5,061			$	5,325			$	20,476			$	21,106
Trading securities			38				140				214				1,485
Investment securities			1,318				1,561				6,084				5,894
Federal funds sold			24				12				64				56
Total interest income			6,441				7,038				26,838				28,541
INTEREST EXPENSE:
Savings and NOW deposits			44				99				216				454
Time deposits			1,153				2,036				5,577				9,713
Money market deposits			53				86				270				274
Repurchase agreements, federal funds purchased and other borrowings			426				517				1,855				2,168
Total interest expense			1,676				2,738				7,918				12,609
Net interest income			4,765				4,300				18,920				15,932
Provision for loan losses			425				300				1,753				2,995
Net interest income after provision for loan losses			4,340				4,000				17,167				12,937
OTHER INCOME:
Deposit account service charges			47				78				220				296
Net gain on sale of securities			522				138				2,237				1,508
Trading activity and fair value adjustments			517				314				(511	)			171
Gain on sale of loans			—				38				—				125
Other operating income			48				50				213				143
Total other income			1,134				618				2,159				2,243
OTHER EXPENSES:
Salaries and employee benefits			1,556				1,867				6,906				7,008
Occupancy expense			688				827				2,663				2,589
Equipment expense			207				211				772				779
Other real estate owned expense			392				1,228				841				2,362
FDIC assessments			338				395				1,369				1,495
Operating expenses			1,802				2,414				5,726				6,637
Total other expenses			4,983				6,942				18,277				20,870
Income(Loss) from continuing operations before income taxes			491				(2,324	)			1,049				(5,690	)
Income tax (benefit)			333				(796	)			344				(1,965	)
NET INCOME (LOSS) from continuing operations		$	158			$	(1,528	)		$	705			$	(3,725	)
Loss from the discontinued insurance operations			—				(1,519	)			—				(1,029	)
Income tax benefit			—				(519	)			—				(358	)
NET LOSS on discontinued operations			—				(1,000	)			—				(671	)
NET INCOME (LOSS)			158				(2,528	)			705				(4,396	)
Net income (loss)from continuing operations per common share, basic		$	0.03			$	(0.30	)		$	0.14			$	(0.73	)
Net income (loss) from continuing operations per common share, diluted		$	0.03			$	(0.30	)		$	0.14			$	(0.73	)
Net loss from discontinued operations per common share, basic		$	—			$	(0.19	)		$	—			$	(0.13	)
Net loss from discontinued operations per common share, diluted		$	—			$	(0.19	)		$	—			$	(0.13	)
Net Income (loss) per share, basic		$	0.03			$	(0.49	)		$	0.14			$	(0.86	)
Net Income (loss) per share, diluted		$	0.03			$	(0.49	)		$	0.14			$	(0.86	)
Weighted average number of shares, basic			5,106,819				5,106,819				5,106,819				5,106,819
Weighted average number of shares, diluted			5,110,321				5,106,819				5,108,496				5,106,819

ALLIANCE BANKSHARES CORPORATION
Consolidated Statistical Information
Performance Information

		December 31,				December 31,
		2010*				2009
		(Dollars in thousands, except per share)
Performance Information:
For The Three Months Ended:
Average loans		$	335,153			$	356,580
Average earning assets			501,985				544,979
Average assets			549,998				592,385
Average non-interest bearing deposits			112,846				95,689
Average total deposits			410,952				452,462
Average interest-bearing liabilities			398,084				459,145
Average equity			36,674				34,949
Net interest margin (1)			3.90	%			3.13	%
Net income (loss) per share, basic		$	0.03			$	(0.49	)
Net income (loss) per share, diluted			0.03				(0.49	)
For The Twelve Months Ended:
Average loans		$	344,684			$	360,993
Average earning assets			512,069				550,571
Average assets			558,945				596,841
Average non-interest bearing deposits			100,365				96,326
Average total deposits			409,689				451,635
Average interest-bearing liabilities			418,827				461,809
Average equity			37,395				35,955
Net interest margin (1)			3.79	%			2.89	%
Net income (loss) per share, basic		$	0.14			$	(0.86	)
Net income (loss) per share, diluted			0.14				(0.86	)

ALLIANCE BANKSHARES CORPORATION
Consolidated Statistical Information
Credit Quality Information ⁽¹⁾

		December 31,				December 31,
		2010*				2009
		(Dollars in thousands)
Credit Quality Information:
Nonperforming assets:
Impaired loans (performing loans with a specific allowance)		$	2,400			$	1,227
Non-accrual loans			1,903				4,394
OREO			4,627				7,875
Total nonperforming assets & past due loans		$	8,930			$	13,496
Specific reserves associated with impaired & non-accrual loans		$	814			$	1,495

Largest components of the nonperforming assets listed above:

December 31, 2010 impaired loans -performing loans with a specific allowance (100% of total)

$2.4 million which is secured by residential land.

December 31, 2010 non-accrual loans (98% of the total)

$535 thousand which is secured by a residential building lot.
$434 thousand which is secured by a single family residence.
$336 thousand which is secured by a residential building lot.
$291 thousand which is secured by a commercial real estate property.
$262 thousand which is secured by a residential property.

December 31, 2010 OREO (96% of the total)

$1.7 million which is acreage near Winchester, Virginia. (OREO as of 9/30/07)
$879 thousand which is acreage in Woodstock, VA. (OREO as of 3/31/08)
$837 thousand which is property in Charles Town, WV. (OREO as of 6/30/10)
$477 thousand which consists of two parcels of land in Northern Virginia. (OREO as of 3/31/08)
$275 thousand which is one acre in Northern Virginina. (OREO as of 3/31/08)
$162 thousand which is residential land in Northern Virginia. (OREO as of 12/31/10)
$117 thousand which is an office warehouse in King George, VA. (OREO as of 3/31/10)

ALLIANCE BANKSHARES CORPORATION
Consolidated Statistical Information
Credit Quality Information ⁽¹⁾

		December 31,				December 31,
		2010*				2009
For The Twelve Months Ended:		(Dollars in thousands)
Balance, beginning of period		$	5,619			$	5,751
Provision for loan losses			1,753				2,995
Loans charged off			(2,239	)			(3,294	)
Recoveries of loans charged off			148				167
Net charge-offs			(2,091	)			(3,127	)
Balance, end of period		$	5,281			$	5,619

		December 31,				September 30,				June 30,				March 31,				December 31,
		2010*				2010*				2010*				2010*				2009
Ratios:
Allowance for loan losses to total loans			1.59	%			1.55	%			1.52	%			1.65	%			1.56	%
Allowance for loan losses to non-accrual loans			2.8	X			1.7	X			1.5	X			1.3	X			1.3	X
Allowance for loan losses to nonperforming assets			0.6	X			0.7	X			0.5	X			0.4	X			0.4	X
Nonperforming assets to total assets			1.66	%			1.29	%			1.86	%			2.23	%			2.34	%
Net charge-offs to average loans			0.61	%			0.66	%			0.77	%			0.18	%			0.87	%

ALLIANCE BANKSHARES CORPORATION
Consolidated Statistical Information
Trading Asset & Liability Summary

		December 31, 2010								December 31, 2009
		Fair								Fair
Trading Securities		Value				Yield				Value				Yield
		(Dollars in thousands)
U.S. government corporations & agencies		$	—				—			$	3,536				5.08	%
PCMOs 1			2,075				5.32	%			3,924				5.36	%
Totals		$	2,075				5.32	%		$	7,460				5.23	%

		December 31, 2010				December 31, 2009
		Fair				Fair
Fair Value Assets and Liabilities		Value				Value
		(Dollars in thousands)
Trading securities		$	2,075			$	7,460
Interest-bearing deposits (brokered certificates of deposit)		$	—			$	9,125
FHLB advances			26,208				25,761
Total fair value liabilities		$	26,208			$	34,886

ALLIANCE BANKSHARES CORPORATION
Consolidated Statistical Information
Capital Information

		December 31,				December 31,
		2010*				2009
		(Dollars in thousands, except per share)
Capital Information:
Book value per share		$	6.60			$	6.49
Tier I risk-based capital ratio			11.6	%			10.4	%
Total risk-based capital ratio			12.9	%			11.6	%
Leverage capital ratio			7.5	%			7.1	%
Total equity to total assets ratio			6.3	%			5.8	%

ALLIANCE BANKSHARES CORPORATION
Reconciliation of Non-GAAP Measures

		Three Months Ended				Three Months Ended				Twelve Months Ended				Twelve Months Ended
		December 31,				December 31,				December 31,				December 31,
		2010*				2009*				2010*				2009
						(Dollars in thousands, except per share)
Net income (loss) from continuing operations		$	158			$	(1,528	)		$	705			$	(3,725	)
Add: Income taxes (benefit)			333				(796	)			344				(1,965	)
Add: Provision for loan losses			425				300				1,753				2,995
Add: Other real estate owned (OREO) expense			392				1,228				841				2,362
Less: Net gains on sale of securites			(522	)			(138	)			(2,237	)			(1,508	)
Add: Trading activity and fair value adjustments			(517	)			(314	)			511				(171	)
Core earnings		$	269			$	(1,248	)		$	1,917			$	(2,012	)