Fixed Income Investor Presentation September 2019 Fixed Income Investor Presentation [Month] [Day], 2019 Third Quarter 2019 Earnings Presentation cshares, Inc. Exhibit 99.2

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This presentation may contain forward-looking statements within the meaning of the securities laws that are based on various facts and derived utilizing important assumptions, present expectations, estimates and projections about Allegiance. These statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “continues”, “anticipates,” “intends,” “projects,” “estimates,” “potential”, “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward looking statements include the foregoing. Forward-looking statements include information concerning Allegiance’s future financial performance, business and growth strategy, projected plans and objectives, as well as projections of macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact economic trends, and any such variations may be material. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of Allegiance’s control, which may cause actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include but are not limited to whether Allegiance can: continue to develop and maintain new and existing customer and community relationships; successfully implement its growth strategy, including identifying suitable acquisition targets and integrating the businesses of acquired companies and banks; sustain its current internal growth rate; provide quality and competitive products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its performance objectives. These and various other factors are discussed in Allegiance's Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and in other reports and statements Allegiance has filed with the Securities and Exchange Commission. Copies of such filings are available for download free of charge from the Investor Relations section of Allegiance's website at www.allegiancebank.com, under Financial Information, SEC Filings. Any forward-looking statement made by Allegiance in this presentation speaks only as of the date on which it is made. Factors or events that could cause Allegiance’s actual results to differ may emerge from time to time, and it is not possible for Allegiance to predict all of them. Allegiance undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. GAAP Reconciliation of Non-GAAP Financial Measures Allegiance’s management uses certain non-GAAP financial measures to evaluate its performance. A reconciliation of the non-GAAP financial measures is included on page 10 of the earnings release issued concurrently herewith. Safe Harbor Statement and Non-GAAP Financial Measures

Allegiance Bancshares, Inc. Overview Franchise Footprint Holding Company for Allegiance Bank; Headquartered in Houston, Texas Company Overview Providing full-service banking services for owner-operated businesses Operational History 27 full-service banking locations and 1 loan production office 26 in the Houston-The Woodlands-Sugar Land MSA 1 in the Beaumont-Port Arthur MSA, just outside of Houston Since opening in 2007, we have completed three whole bank acquisitions and one branch transaction: 2019: LoweryBank branch acquisition with $45.0 million in loans and $16.0 million in deposits 2018: Post Oak Bank, N.A. (Post Oak Bancshares, Inc.) with $1.5 billion in total assets 2015: Enterprise Bank (F&M Bancshares, Inc.) with $569.7 million in total assets 2013: Independence Bank, N.A. with $222.1 million in total assets Financial Highlights ABTX Branch Locations (27) Galveston Houston Houston-The Woodlands-Sugar Land MSA Beaumont-Port Arthur MSA 10 10 45 45 Beaumont _____________________ * Annualized as of 3Q 2019.

Our Super-Community Banking Strategy High Net Interest Margin Strong Credit Quality Centralized Credit Administration Focus on Small and Medium-Sized Owner-Operated Businesses Full-Service Bank Locations Favorable Loan Yields and Deposit Relationships Effective Centralized Operations Scalable Platform Experienced Central Operations Staff Enhanced Efficiency and Profitability Extraordinary Customer Experience Responsive Decision-Making by Empowered Lenders Strategy Structure Results

Deposit Market Share - Houston-The Woodlands-Sugar Land MSA _____________________ Source: S&P Global Intelligence as of June 30, 2019. As of June 30 of the year shown, on a pro forma basis reflecting any announced acquisition. To date, on a pro forma basis reflecting any announced acquisition. (1) (1) (2)

Financial Highlights – Third Quarter 2019 Assets of $4.91 billion, loans of $3.89 billion, deposits of $3.90 billion and shareholder's equity of $706.3 million at September 30, 2019 Core loan(1) growth of $1.46 billion, or 60.9%, year over year to $3.85 billion Balance Sheet Growth Net income of $12.0 million for the third quarter 2019 compared to $14.2 million for the second quarter 2019 and $8.9 million for the third quarter 2018 Third quarter 2019 earnings were impacted by: $1.4 million of pre-tax severance expense $676 thousand FDIC Small Bank Assessment Credit Efficiency ratio increased to 62.9% for the third quarter 2019 from 61.93% for the second quarter 2019 and decreased from 63.95% for the third quarter 2018 Profitability Net Interest Margin Net interest income decreased to $44.8 million for the third quarter 2019 compared to $45.6 million for the second quarter 2019 and increased from $28.0 million for the third quarter 2018 Net interest margin on a tax equivalent basis decreased to 4.16% for the third quarter 2019 from 4.33% for the second quarter 2019 and increased from 4.10% for the third quarter 2018 Core net interest margin(2) on a tax equivalent basis excludes the impact of acquisition accounting adjustments of $2.0 million and was 3.97% for the third quarter 2019 compared to 4.07% for the second quarter 2019 Recognitions and Awards Joined S&P SmallCap 600 GICS (Global Industry Classification Standard) Regional Banks Sub-Industry Index on October 11, 2019 Recognized by the West Houston Assistance Ministries (WHAM) with the 2019 Community Builder Award for our commitment to social responsibility, our impact on initiatives supporting education, athletics, health and wellness, the underserved and our continued effort to make our community a better place _____________________ Defined as total loans excluding mortgage warehouse. Please refer to the non-GAAP reconciliation in the appendix.

Historical Balance Sheet Growth Total Loans Total Assets Total Equity Total Deposits (1) _____________________ Note: Dollars in millions. Includes $1.50 billion in assets acquired on October 1, 2018. Includes $1.16 billion of acquired loans at fair value on October 1, 2018. (4) (2) (4) (3) (5) Includes $1.29 billion of acquired deposits on October 1, 2018. Includes $45.0 million of loans acquired on February 1, 2019. Includes $16.0 million of deposits acquired on February 1, 2019.

Earnings Performance Net Interest Income and Net Interest Margin Net Income and Earnings per Share _____________________ Note: Dollars in millions, except per share numbers. Includes a one-time gain from sale of branches of $1.3 million (after-tax). Includes $1.8 million and $1.7 million of core system conversion and acquisition and merger-related expenses, respectively, and $3.1 million of acquisition accounting adjustments. Includes $2.0 million of acquisition accounting adjustments, $1.4 million of pre-tax severance expense and a $676 thousand FDIC Small Bank Credit (1) (2) (3) Includes $3.1 million of acquisition accounting adjustments; Core net interest margin (tax equivalent) adjusted for acquisition accounting adjustments was 4.17%. Please refer to the non-GAAP reconciliation in the appendix. Includes $2.0 million of acquisition accounting adjustments; Core net interest margin (tax equivalent) adjusted for acquisition accounting adjustments was 3.97%. Please refer to the non-GAAP reconciliation in the appendix. (4) (5) 5 yr CAGR: Net Income 52.8%, EPS 18.1%

Return on Average Tangible Common Equity(1) Return on Average Assets Noninterest Expense to Average Assets Efficiency Ratio _____________________ Please refer to the non-GAAP reconciliation in the appendix. Includes a one-time gain from sale of branches of $1.3 million (after-tax). Includes $1.8 million and $1.7 million of core system conversion and merger-related expenses, respectively. Includes $3.1 million of acquisition accounting adjustments. Includes $2.0 million of acquisition accounting adjustments, $1.4 million of pre-tax severance expense and a $676 thousand FDIC Small Bank Assessment Credit. Annualized for the quarter ending September 30 for each respective year. (2) (3)(4) (5)(6) (6) (6) (6) (5) (5)(6) (6) (3)(4) (3) (2) Earnings Performance, continued

Yields and Cost Analysis Net Interest Margin Loan Portfolio Reported Yields and Total Deposit Costs _____________________ Core net interest margin excludes acquisition accounting adjustments. Please refer to the non-GAAP reconciliation in the appendix. (1)

Tier 1 Leverage Ratio Tangible Equity / Tangible Assets(1) Total Risk-Based Ratio Tier 1 Risk-Based Ratio Capital Position _____________________ Please refer to the non-GAAP reconciliation in the appendix.

Total Loan Portfolio Composition 53.6% of CRE is Owner-Occupied CRE (incl. multi-family) by Property Type CRE Construction by Property Type _____________________ Note: Dollars in millions, unless otherwise noted. As of the quarter ended September 30, 2019. Includes classifications less than 2.0% of total composition. Loan Portfolio Composition (1) (1)

Allowance / Total Loans Allowance / Nonperforming Loans Net Charge-offs / Average Loans Nonperforming Loans / Total Loans (1) _____________________ Annualized for the quarter ending September 30, 2019. Strong Asset Quality

Deposit Composition and Growth Deposit Growth Trend Deposit Composition _____________________ Note: Dollars in millions. As of the quarter ended September 30, 2019.

Our management uses these non-GAAP financial measures in its analysis of our performance: “Tangible Shareholders’ Equity” is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. Tangible shareholders’ equity is defined as total shareholders’ equity reduced by goodwill and core deposit intangibles, net of accumulated amortization. This measure is important to investors interested in changes from period to period in shareholders’ equity, exclusive of changes in intangible assets. For tangible shareholders’ equity, the most directly comparable financial measure calculated in accordance with GAAP is total shareholders’ equity. Goodwill and other intangible assets have the effect of increasing total shareholders’ equity while not increasing our tangible shareholders’ equity. “Tangible Equity to Tangible Assets” is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. Tangible equity to tangible assets is defined as total shareholders’ equity reduced by goodwill and core deposit intangibles, net of accumulated amortization, divided by tangible assets, which are total assets reduced by goodwill and core deposit intangibles, net of accumulated amortization. This measure is important to investors interested in changes from period to period in equity and total assets, each exclusive of changes in intangible assets. For tangible equity to tangible assets, the most directly comparable financial measure calculated in accordance with GAAP is total shareholders’ equity to total assets. Goodwill and other intangible assets have the effect of increasing both total shareholders’ equity and assets while not increasing our tangible common equity or tangible assets. Non-GAAP Reconciliation _____________________ Note: Dollars in thousands. Annualized for each respective quarter.

Non-GAAP Reconciliation, continued “Core Net Interest Margin (TE)” is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. Core net interest margin is defined as net interest income, net of related acquisition accounting adjustments, divided average earnings assets. This measure is important to investors interested in changes from period to period in net interest income, exclusive of the impact from related acquisition accounting adjustments. For core net interest margin, the most directly comparable financial measure calculated in accordance with GAAP is net interest margin. _____________________ Note: Dollars in thousands. Annualized for each respective quarter.