<PAGE> 1
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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                   FORM 10-K

               ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 1998       Commission File No. 0-26350

                            ALLEGIANT BANCORP, INC.
            (Exact name of registrant as specified in its charter)



                 Missouri                                   43-1519382
         (State of Incorporation)                         (IRS Employer
                                                       Identification No.)

             2122 Kratky Road                                 63114
            St. Louis, Missouri                             (Zip code)
 (Address of principal executive offices)

       Registrant's telephone number, including area code: 314-692-8200

       Securities registered pursuant to Section 12(b) of the Act: None
                Name of exchange on which registered:  None

          Securities registered pursuant to Section 12(g) of the Act:
                         Common Stock, $0.01 Par Value


   Indicate by check mark whether the registrant (1) has filed all reports
  required to be filed by Section 13 or 15(d) of the Securities Exchange Act
   of 1934 during the preceding 12 months, and (2) has been subject to such
                  filing requirements for the past 90 days.
                             Yes   X     No
                                 -----      -----

  Indicate by check mark if disclosure of delinquent filers pursuant to Item
 405 of Regulation S-K is not contained herein, and will not be contained, to
    the best of registrant's knowledge, in definitive proxy or information
  statements incorporated by reference in Part III of this Form 10-K or any
                       amendment to this Form 10-K.  [X]

      Aggregate market value of the voting stock held by non-affiliates
                   of the registrant as of March 25, 1999:
                 Common Stock, $0.01 par value, $65,601,240

          Number of shares outstanding of each of the registrant's
                classes of common stock, as of March 25, 1999:
         Common Stock, $0.01 par value, 6,560,124 shares outstanding

                      DOCUMENTS INCORPORATED BY REFERENCE
   As provided herein, portions of the documents below are incorporated by
                                  reference:
                  Document                                      Part--Form 10-K
                  --------                                      ---------------
 1998 Annual Report of the Registrant to its Shareholders      Parts I, II, IV

 Registrant's Proxy Statement for the 1999
 Annual Meeting of Shareholders                                Part III
===============================================================================



<PAGE> 2

                                    PART I

ITEM 1. BUSINESS

GENERAL

     Allegiant Bancorp, Inc. ("Allegiant" or the "Company") is a bank holding
company that owns all of the capital stock of Allegiant Bank, a Missouri
state-chartered bank (the "Bank").  The Bank provides personal and commercial
banking and related financial services from 12 locations in the St. Louis
Standard Metropolitan Statistical Area ("St. Louis SMSA"), the 16th largest
metropolitan area in the United States.  As of December 31, 1998, the Company
reported consolidated total assets of $596.3 million, consolidated loans of
$495.7 million, consolidated deposits of $450.8 million and consolidated
shareholders' equity of $48.1 million.  The Company has its principal offices
at 2122 Kratky Road, St. Louis, Missouri 63114 (telephone number
314-692-8200).

     The Company was organized in May 1989 and acquired Allegiant State Bank
at that time.  The Company acquired the Bank in 1990.  In November 1994, the
Bank acquired Allegiant Mortgage Company, a Missouri corporation (the
"Mortgage Company").  Effective January 1995, Allegiant State Bank merged
into the Bank.  The Company acquired Reliance Financial, Inc. ("Reliance"), a
Delaware corporation and the parent of Reliance Savings and Loan Association
of St. Louis County ("RFSLA"), a federal savings bank, through the merger of
Reliance with and into the Company in August 1997.  RFSLA was renamed
Allegiant Bank, FSB upon consummation of the Reliance Acquisition and was
merged into the Bank in September 1998.  On January 1, 1999, the Bank
acquired all of the assets and liabilities of the Mortgage Company, which
subsequently was dissolved.

     Pursuant to separate Deposit Transfer and Asset Purchase Agreements,
dated May 8, 1997, by and between the Company and Roosevelt Bank
("Roosevelt"), a Missouri state-chartered bank, the Bank assumed the deposits
and acquired the loans and real property of Roosevelt's branch offices in
Warrenton, Missouri and Union, Missouri (collectively, the "Branch
Acquisition").  The Branch Acquisition was completed on September 4, 1997.
The Bank assumed approximately $95.7 million of deposit liabilities, acquired
real property and related automated teller machines, furniture, fixtures,
equipment and other operating assets with an aggregate value of $0.9 million,
and approximately $2.9 million of consumer loans.  The Bank recorded goodwill
of $8.8 million in connection with the Branch Acquisition.

     The Company's primary service area is located in St. Louis County which
has a population of approximately 1.0 million and the City of St. Louis which
has a population of approximately 400 thousand.  A key to market coverage is
accessibility.  With the addition of the Mehlville retail banking office in
1996, the St. Peters, Affton (the Savings Bank) and Crestwood retail banking
offices in 1997, and a new downtown retail banking office in the first
quarter of 1999, management believes that the Company's retail banking
offices are within a 20-minute drive from all principal sectors of the St.
Louis SMSA.  Upon consummation of the Branch Acquisition, the Bank added
retail banking offices in Warrenton, Missouri and Union, Missouri.  The
Warrenton banking office is located in Warren County, which has a population
of approximately 23 thousand.  The Union banking office is located in
Franklin County, which has a population of approximately 87 thousand.  Both
the Warrenton and Union banking offices are within a 45-minute drive from St.
Louis County.  The recent branch openings, the Reliance Acquisition and the
Branch Acquisition are part of the Company's plan to expand into markets in
St. Louis County and contiguous counties to provide accessibility to its
customers.



                                    1
<PAGE> 3

     The Bank sold three retail banking offices in northeastern Missouri, the
cities of Kahoka, Palmyra and Monroe, including the deposit liabilities and
certain loans and fixed assets with respect thereto, to Exchange Bank of
Northeast Missouri, a subsidiary of Lincoln County Bancorp, Inc. on
December 4, 1998.  The sale of these branches will allow the Company to
concentrate exclusively on opportunities in the higher-growth St. Louis
metropolitan area and contiguous counties.  Pursuant to this branch sale, the
Bank transferred approximately $40.0 million of deposit liabilities and
approximately $15.3 million of total assets, including approximately $13.9
million of total loans, to Exchange Bank of Northeast Missouri.  The Company
received a total premium of approximately $2.4 million in connection with
such sale.

FINANCIAL SUMMARY OF THE COMPANY

     A consolidated financial summary of the Company and its subsidiaries
included on page 10 in the 1998 Annual Report of the Registrant to its
Shareholders, is incorporated herein by reference.

SUBSIDIARIES

     The table setting forth the names and locations of the Company's
subsidiaries is included as Exhibit 21 hereto.

OPERATIONS

     The Bank offers complete banking and trust services to the individual,
commercial business and municipal segments of the St. Louis metropolitan
market area that it serves.  Services include commercial, real estate,
mortgage and installment loans, checking, savings and time deposits, trust
and other fiduciary services, and various other customer services such as
brokerage, insurance and safe deposit.

COMPETITION

     The Company's subsidiaries encounter substantial competition in offering
all of their banking and related financial products and services from other
banking institutions and from an increasing number of non-banking institutions
in its market area.  Many of the Bank's non-bank competitors are not subject to
the extensive federal and state regulations which govern the Company and its
subsidiaries and, as a result, have a competitive advantage over the Bank in
providing certain services.  Many of the financial institutions with which the
Bank competes are larger and have substantially greater financial resources
than the Bank.

SUPERVISION AND REGULATION

     General.  As a bank holding company, the Company is subject to
regulation under the Bank Holding Company Act of 1956, as amended (the
"BHCA"), and its examination and reporting requirements.  Under the BHCA, a
bank holding company may not directly or indirectly acquire the ownership or
control of more than 5% of the voting shares or substantially all of the
assets of any company, including a bank or savings and loan association,
without the prior approval of the Board of Governors of the Federal Reserve
System (the "Federal Reserve Board").  In addition, bank holding companies
are generally prohibited under the BHCA from engaging in nonbanking
activities, subject to certain exceptions.



                                    2
<PAGE> 4

     The Company and the Bank are subject to supervision and examination by
applicable federal and state banking agencies.  The earnings of the Bank, and
therefore the earnings of the Company, are affected by general economic
conditions, management policies and the legislative and governmental actions
of various regulatory authorities, including the Federal Reserve Board, the
Federal Deposit Insurance Corporation (the "FDIC"), the Missouri Division of
Finance (the "Division of Finance") and various other state financial
institution regulatory agencies.  In addition, there are numerous governmental
requirements and regulations that affect the activities of the Company and its
subsidiaries.

     Certain Transactions with Affiliates.  There are various legal
restrictions on the extent to which a bank holding company and certain of its
nonbank subsidiaries can borrow or otherwise obtain credit from its bank
subsidiaries.  In general, these restrictions require that any such
extensions of credit must be on non-preferential terms and secured by
designated amounts of specified collateral and be limited, as to any one of
the holding company or such nonbank subsidiaries, to 10% of the lending
bank's capital stock and surplus, and as to the holding company and all such
nonbank subsidiaries in the aggregate, to 20% of such capital stock and
surplus.

     Payment of Dividends.  The Company is a legal entity separate and
distinct from the Bank and the Mortgage Company.  The principal source of the
Company's revenues is dividends from the Bank.  Various federal and/or state
statutory provisions limit the amount of dividends the Bank can pay to the
Company without regulatory approval.  The approval of appropriate federal or
state bank regulatory agencies is required for any dividend if the total of
all dividends declared by the Bank in any calendar year would exceed the
total of such institution's net profits, as defined by regulatory agencies,
for such year combined with its retained net profits for the preceding two
years.  The payment of dividends by the Bank also may be affected by other
factors, such as the maintenance of adequate capital.

     Capital Adequacy.  The Federal Reserve Board has issued standards for
measuring capital adequacy for bank holding companies.  These standards are
designed to provide risk-responsive capital guidelines and to incorporate a
consistent framework for use by financial institutions operating in major
international financial markets.  The banking regulators have issued
standards for banks that are similar to, but not identical with, the
standards for bank holding companies.

     In general, the risk-related standards require financial institutions
and financial institution holding companies to maintain capital levels based
on "risk adjusted" assets, so that categories of assets with potentially
higher credit risk will require more capital backing than categories with
lower credit risk.  In addition, financial institutions and financial
institution holding companies are required to maintain capital to support
off-balance sheet activities such as loan commitments.

     FDIC Insurance Assessments.  The Bank is subject to FDIC deposit
insurance assessments.  The FDIC has adopted a risk-based premium schedule.
Each financial institution is assigned to one of three capital groups--well
capitalized, adequately capitalized or undercapitalized--and further assigned
to one of three subgroups within a capital group, on the basis of supervisory
evaluations by the institution's primary federal and, if applicable, state
supervisors, and on the basis of other information relevant to the
institution's financial condition and the risk posed to the applicable
insurance fund.  The actual assessment rate applicable to a particular
institution will, therefore, depend in part upon the risk assessment
classification so assigned to the institution by the FDIC.  See "--FIRREA and
FDICIA."



                                    3
<PAGE> 5

     Support of Subsidiary Banks.  Under Federal Reserve Board policy, the
Company is expected to act as a source of financial strength to the Bank and
to commit resources to support the Bank in circumstances where it might not
choose to do so absent such a policy.  This support may be required at times
when the Company may not find itself able to provide it.  In addition, any
capital loans by the Company to the Bank also would be subordinate in right
of payment to deposits and certain other indebtedness of the Bank.

     Consistent with this policy regarding bank holding companies serving as
a source of financial strength for their subsidiary banks, the Federal
Reserve Board has stated that, as a matter of prudent banking, a bank holding
company generally should not maintain a rate of cash dividends unless its net
income available to common shareholders has been sufficient to fully fund the
dividends and the prospective rate of earnings retention appears consistent
with the bank holding company's capital needs, asset quality and overall
financial condition.

     FIRREA and FDICIA.  The Financial Institutions Reform, Recovery and
Enforcement Act of 1989 ("FIRREA") contains a cross-guarantee provision that
could result in insured depository institutions owned by the Company being
assessed for losses incurred by the FDIC in connection with assistance
provided to, or the failure of, any other insured depository institution
owned by the Company.  Under FIRREA, failure to meet the capital guidelines
could subject a banking institution to a variety of enforcement remedies
available to federal regulatory authorities, including the termination of
deposit insurance by the FDIC.

     The Federal Deposit Insurance Corporation Improvement Act of 1991
("FDICIA") made extensive changes to the federal banking laws.  FDICIA
instituted certain changes to the supervisory process, including provisions
that mandate certain regulatory agency actions against undercapitalized
institutions within specified time limits.  FDICIA contains various other
provisions that may affect the operations of banks and savings institutions.

     The prompt corrective action provision of FDICIA requires the federal
banking regulators to assign each insured institution to one of five capital
categories ("well capitalized," "adequately capitalized" or one of three
"undercapitalized" categories) and to take progressively more restrictive
actions based on the capital categorization, as specified below.  Under
FDICIA, capital requirements would include a leverage limit, a risk-based
capital requirement and any other measure of capital deemed appropriate by
the federal banking regulators for measuring the capital adequacy of an
insured depository institution.  All institutions, regardless of their
capital levels, are restricted from making any capital distribution or paying
any management fees that would cause the institution to fail to satisfy the
minimum levels for any relevant capital measure.

     The FDIC and the Federal Reserve Board adopted capital-related
regulations under FDICIA. Under those regulations, a bank will be well
capitalized if it:  (i) had a total risk-based capital ratio of 10% or
greater; (ii) had a ratio of Tier 1 capital to risk-weighted assets of 6% or
greater; (iii) had a ratio of Tier 1 capital to adjusted total assets of 5%
or greater; and (iv) was not subject to an order, written agreement, capital
directive or prompt corrective action directive to meet and maintain a
specific capital level for any capital measure.  An association will be
adequately capitalized if it was not "well capitalized" and:  (i) had a total
risk-based capital ratio of 8% or greater; (ii) had a ratio of Tier 1 capital
to risk-weighted assets of 4% or greater; and (iii) had a ratio of Tier 1
capital to adjusted total assets of 4% or greater (except that certain
associations rated "Composite 1" under the federal banking agencies'



                                    4
<PAGE> 6

CAMEL rating system in their most recent examination may be adequately
capitalized if their ratios of Tier 1 capital to adjusted total assets were 3%
or greater).

     FDICIA also made extensive changes in existing rules regarding audits,
examinations and accounting.  It generally requires annual on-site, full
scope examinations by each bank's primary federal regulator.  It also imposed
new responsibilities on management, the independent audit committee and
outside accountants to develop or approve reports regarding the effectiveness
of internal controls, legal compliance and off-balance sheet liabilities and
assets.

     Banking agencies have adopted final regulations that mandate that
regulators take into consideration concentrations of credit risk and risks from
non-traditional activities, as well as an institution's ability to manage those
risks, when determining the adequacy of an institution's capital.  This
evaluation will be made as part of the institution's regular safety and
soundness examination.  Banking agencies also have adopted regulations
requiring regulators to consider interest rate risk (when the interest rate
sensitivity of an institution's assets does not match the sensitivity of its
liabilities or its off-balance sheet position) in the evaluation of a bank's
capital adequacy and have established an explicit risk-based capital charge
for interest rate risk.

     Depositor Preference Statute.  Legislation enacted in August 1993
provides a preference for deposits and certain claims for administrative
expenses and employee compensation against an insured depository institution,
in the liquidation or other resolution of such an institution by any
receiver.  Such obligations would be afforded priority over other general
unsecured claims against such an institution, including federal funds and
letters of credit, as well as any obligation to shareholders of such an
institution in their capacity as such.

     The Interstate Banking and Community Development Legislation.  The
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
("Riegle-Neal"), enacted in 1994, facilitated the interstate expansion and
consolidation of banking organizations by permitting (i) bank holding
companies that are adequately capitalized and managed to acquire banks
located in states outside their home states regardless of whether such
acquisitions are authorized under the law of the host state, (ii) the
interstate merger of banks, except for banks located in Montana and Texas,
which states enacted legislation to "opt out" of this authority, (iii) banks
to establish new branches on an interstate basis provided that such action is
specifically authorized by the law of the host state, (iv) foreign banks to
establish, with approval of the regulators in the United States, branches
outside their home states to the same extent that national or state banks
located in the home state would be authorized to do so, and (v) banks to
receive deposits, renew time deposits, close loans, service loans and receive
payments on loans and other obligations as agent for any bank or thrift
affiliate, whether the affiliate is located in the same state or a different
state.  One effect of Riegle-Neal is to permit the Company to acquire banks
located in any state and to permit bank holding companies located in any
state to acquire banks and bank holding companies in Missouri.

     There also have been a number of recent legislative and regulatory
proposals designed to improve the overall financial stability of the United
States banking system, and to provide for other changes in the bank
regulatory structure, including proposals to reduce regulatory burdens on
banking organizations and to expand the nature of products and services banks
and bank holding companies may offer. It is not possible to predict whether
or in what form these proposals may be adopted in the future, and, if
adopted, what their effect will be on the Company.



                                    5

<PAGE> 7

EMPLOYEES

As of December 31, 1998, the Company and the Bank had approximately 215
full-time equivalent employees.  None of these employees of the Company or
the Bank are subject to a collective bargaining agreement.  The Company
considers its relationships with its employees and those of the Bank to be
good.


                                    6

<PAGE> 8

STATISTICAL DISCLOSURES

     The following statistical disclosures, except as noted, are included in
the 1998 Annual Report of the Registrant to its Shareholders, and
incorporated herein by reference.

<TABLE>
<CAPTION>
                                                                               ANNUAL REPORT
        SCHEDULE                                                                 REFERENCE
        --------                                                                -----------
<C>     <S>                                                                      <C>
I.      DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS' EQUITY:
        INTEREST RATES AND INTEREST DIFFERENTIAL
        A.  Average Balance Sheets                                                 p. 12
        B.  Analysis of Net Interest Earnings                                      p. 11
        C.  Taxable-Equivalent Rate-Volume Analysis                                p. 14
II.     INVESTMENT PORTFOLIO
        A.  Book Value by Type of Security                                         p. 16
        B.  Maturity Distribution                                                  p. 16
III.    LOAN PORTFOLIO
        A.  Types of Loans                                                         p. 17
        B.  Maturities and Sensitivities to Changes in Interest Rates              p. 17
        C.  Risk Elements
            1.  Non-Accrual, Past Due and Restructured Loans                       p. 18
            2.  Potential Problem Loans                                            p. 18
            3.  Foreign Outstandings                                                n/a
IV.     SUMMARY OF LOAN LOSS EXPERIENCE
        A.  Reserve for Possible Loan Losses                                       p. 19
        B.  Allocation of the Reserve for Possible Loan Losses                   pp. 18-19
V.      DEPOSITS<F*>
        A.  Average Balances and Rates Paid by Deposit Category                    p. 12
        B.  Maturity Distribution of Certain CDs and Time Deposits                 p. 20
VI.     RETURN ON EQUITY AND ASSETS                                                p. 11
VII.    SHORT-TERM BORROWINGS                                                      p. 22

<FN>
--------------------
<F*>   There were no interest-bearing deposits with foreign banks at
December 31, 1998, 1997 or 1996.
</TABLE>


                                    7
<PAGE> 9

ITEM 2. PROPERTIES

     The Company operates its principal executive, administrative and
operational offices at 2122 Kratky Road in St. Louis, Missouri.  As of
December 31, 1998, the Bank conducted its business and operations out of 15
locations in the greater St. Louis Metropolitan area.  The Company's physical
properties, which are either owned or leased, are in satisfactory condition,
adequately insured and suitable and adequate for present operations.

ITEM 3. LEGAL PROCEEDINGS

     Various claims and lawsuits, incidental to its ordinary course of
business, are pending against the Company and its subsidiaries.  In the
opinion of management, after consultation with legal counsel, resolution of
these matters is not expected to have a material effect on the Company's
consolidated financial condition or results of operations.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     There were no matters submitted during the quarter ended December 31,
1998 to a vote of the Company's shareholders, through the solicitation of
proxies or otherwise.

ITEM 4A. EXECUTIVE OFFICERS OF THE REGISTRANT

     See Part III, Item 10.


                                    PART II

ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED SHAREHOLDER
        MATTERS

     Information concerning the Common Stock of the Registrant, included on
page 44 in the 1998 Annual Report of the Registrant to its Shareholders, is
incorporated herein by reference.

ITEM 6. SELECTED FINANCIAL DATA

     Selected Financial Data, included on page 10 in the 1998 Annual Report
of the Registrant to its Shareholders, is incorporated herein by reference.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
        RESULTS OF OPERATIONS

     Management's Discussion and Analysis of Financial Condition and Results
of Operations, included on pages 11 through 23 of the 1998 Annual Report of
the Registrant to its Shareholders, is incorporated herein by reference.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     Quantitative and Qualitative Disclosures About Market Risk, included
under the Section entitled "Management's Discussion and Analysis of Financial
Condition and Results of Operations - Interest Rate Sensitivity" on pages
20 and 21 of the 1998 Annual Report of the Registrant to its Shareholders, is
incorporated herein by reference.


                                    8
<PAGE> 10

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

     The following consolidated financial statements, included in the 1998
Annual Report of the Registrant to its Shareholders, are incorporated herein
by reference.

                                                             ANNUAL REPORT
     STATEMENT                                                 REFERENCE
     ---------                                                -----------
Report of Ernst & Young LLP, Independent Auditor.               Page 24

Consolidated Balance Sheets - December 31, 1998, 1997 and
   1996.                                                        Page 25

Consolidated Statements of Income - Years ended December 31,
   1998, 1997 and 1996.                                         Page 26

Consolidated Statements of Shareholders' Equity -
   Years ended December 31, 1998, 1997 and 1996.                Page 27

Consolidated Statements of Cash Flows - Years ended
   December 31, 1998, 1997 and 1996.                            Page 28

Notes to Consolidated Financial Statements.                     Pages 29-41

     Selected Quarterly Financial Data (unaudited), included as Note 21 on
page 41 in the 1998 Annual Report of the Registrant to its Shareholders is
incorporated herein by reference.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
        FINANCIAL DISCLOSURE

     Information regarding the change of accountants for the Company is
contained in "Independent Public Accountants" in the Registrant's Proxy
Statement for the 1999 Annual Meeting of Shareholders, which information is
incorporated herein by reference.


                                   PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

     Information regarding directors is contained under "Election of
Directors" and "Voting Securities and Principal Holders Thereof" included in
the Registrant's Proxy Statement for the 1999 Annual Meeting of Shareholders,
which information is incorporated herein by reference.

     The following is a list, as of February 28, 1999, of the names and ages
of the executive officers of Allegiant and all positions and offices with
Allegiant presently held by the person named. There is no family relationship
between any of the named persons.



                                    9
<PAGE> 11

     The name, age and position with respect to each of the executive
officers of the Company are set forth below:

     Marvin S. Wool, 70, has served as a director of the Company since 1990
and as the Chairman of the Company and of the Bank since March 1992.  Mr.
Wool served as Chief Executive Officer of the Company from March 1992 through
December 1998.  For more than the past five years, Mr. Wool has served as the
President and Chief Executive Officer of Dash Multi-Corp, the holding company
for ten subsidiary companies located in Georgia, Mississippi, Missouri, New
Jersey and California that are in the chemical, cloth coating and carpet
industries.

     Shaun R. Hayes, 39, has served as a director and as the President of the
Company since 1989 and President and Chief Executive Officer of the Bank
since May 1992.  Mr. Hayes became Chief Executive Officer of the Company in
January 1999.

     Sandra L. Friedman, 48, has served as Senior Vice President and Chief
Financial Officer of the Company and as Executive Vice President and Chief
Financial Officer of the Bank since January 1998.  From 1996 to 1997, Ms.
Friedman served as Senior Vice President/Risk Management of Mark Twain
Bancshares, Inc. and from 1986 to 1996 as Vice President of Mark Twain
Bancshares, Inc.

     The executive officers were appointed by and serve at the pleasure of
the Board of Directors of the Company.

     Information regarding compliance with Section 16 of the Securities
Exchange Act of 1934, as amended, is contained in "Section 16(a) Beneficial
Ownership Reporting Compliance," included in the Registrant's Proxy Statement
of the 1999 Annual Meeting of Shareholders, which information is incorporated
herein by reference.

ITEM 11. EXECUTIVE COMPENSATION

     Information regarding executive compensation is contained in
"Compensation of Executive Officers," included in the Registrant's Proxy
Statement for the 1999 Annual Meeting of Shareholders, which is incorporated
herein by reference.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     Information regarding security ownership of certain beneficial owners
and management is contained in "Voting Securities and Principal Holders
Thereof," included in the Registrant's Proxy Statement for the 1999 Annual
Meeting of Shareholders, which is incorporated herein by reference.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     Information regarding certain relationships and related transactions is
contained in "Certain Relationships and Related Transactions," included in
the Registrant's Proxy Statement for the 1999 Annual Meeting of Shareholders,
which is incorporated herein by reference.


                                    10
<PAGE> 12

                                    PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

     (a)   (1)   Financial Statements: Incorporated herein by reference, are
     listed in Item 8 hereof.

           (2)   Financial Statement Schedules:

           Report of BDO Seidman, LLP, relating to the consolidated financial
     statements of the Company for the years ended December 31, 1997 and 1996,
     is found following the signature pages hereto.

           (3)   Exhibits: See Exhibit Index at page 15 hereof.

     (b)   Reports on Form 8-K

           The Company filed one Current Report on Form 8-K on December 18,
     1998.  In such report, under Item 5, the Company disclosed the sale on
     December 4, 1998 of its three Northeast Missouri branch offices in
     Kahoka, Palmyra and Monroe City, including the deposit liabilities and
     certain loans and fixed assets with respect thereto, to Exchange Bank of
     Northeast Missouri, a subsidiary of Lincoln County Bancorp, Inc.  The
     sale of these branches will allow the Company to concentrate exclusively
     on opportunities in the higher-growth St. Louis metropolitan area and
     contiguous counties.  Pursuant to this branch sale, the Bank transferred
     approximately $40.0 million of deposit liabilities and approximately
     $15.3 million of total assets, including approximately $13.9 million of
     total loans, to Exchange Bank of Northeast Missouri.  The Company
     received a total premium of approximately $2.4 million in connection
     with such sale.



                                    11
<PAGE> 13


                                  SIGNATURES

     In accordance with Section 13 or 15(d) of the Securities Exchange Act of
1934, as amended, the Company caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized as of the 31st day of March
1999.

                                      ALLEGIANT BANCORP, INC.
                                      (Registrant)



                                      By   /s/ Shaun R. Hayes
                                         --------------------------------------
                                           Shaun R. Hayes, President and
                                           Chief Executive Officer


     In accordance with the Securities Exchange Act of 1934, as amended,
this report has been signed below by the following persons on behalf of the
Company and in the capacities and on the dates indicated.

<TABLE>
<CAPTION>
    Signature                          Title                                        Date
    ---------                          -----                                        ----
<S>                            <C>                                            <C>

/s/ Marvin S. Wool             Chairman of the Board                          March 31, 1999
---------------------------
Marvin S. Wool


/s/ Shaun R. Hayes             President, Chief Executive Officer             March 31, 1999
---------------------------
Shaun R. Hayes                 and Director


/s/ Sandra L. Friedman         Senior Vice President and Chief                March 31, 1999
---------------------------
Sandra L. Friedman             Financial Officer


/s/ Leland B. Curtis           Director                                       March 31, 1999
---------------------------
Leland B. Curtis


/s/ Kevin R. Farrell           Director                                       March 31, 1999
---------------------------
Kevin R. Farrell


/s/ Leon A. Felman             Director                                       March 31, 1999
---------------------------
Leon A. Felman


                                    12
<PAGE> 14

/s/ C. Virginia Kirkpatrick    Director                                       March 31, 1999
---------------------------
C. Virginia Kirkpatrick


/s/ Jack K. Krause             Director                                       March 31, 1999
---------------------------
Jack K. Krause


/s/ Lee S. Wielansky           Director                                       March 31, 1999
---------------------------
Lee S. Wielansky

</TABLE>


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<PAGE> 15


              REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


                         (BDO Seidman, LLP letterhead)

The Board of Directors
Allegiant Bancorp, Inc.
St. Louis, Missouri

We have audited the accompanying consolidated balance sheets of Allegiant
Bancorp, Inc. (a Missouri corporation) and subsidiaries as of December 31,
1997 and 1996, and the related consolidated statements of income,
shareholders' equity and cash flows for the years then ended.  These
financial statements are the responsibility of the Company's management.  Our
responsibility is to express an opinion on these financial statements based
on our audits.

We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation.  We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Allegiant Bancorp, Inc. and
subsidiaries as of December 31, 1997 and 1996, and the results of their
operations and their cash flows for the years then ended, in conformity with
generally accepted accounting principles.

                                              /s/ BDO Seidman, LLP
                                              St. Louis, Missouri

March 13, 1998



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<PAGE> 16

<TABLE>
                                                EXHIBIT INDEX
<CAPTION>

  EXHIBIT NO.                           DESCRIPTION
  -----------                           -----------
<C>              <S>
     3.1         Articles of Incorporation, as amended, of the Company, filed as Exhibit 3.1 to Registrant's
                 Registration Statement on Form 10-SB (Reg. No. 0-26350) is hereby incorporated by reference.

     3.1(a)      Amendment to Articles of Incorporation, as amended, of the Company, filed as Exhibit 3 to the
                 Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 1998, is
                 hereby incorporated by reference.

     3.2         By-laws of the Company, as currently in effect, are filed herewith.

     4.1         Form of Stock Certificate for Common Stock, filed as Exhibit 4.2 to the Company's
                 Registration Statement on Form 10-SB (Reg. No. 0-26350) is hereby incorporated by reference.

     4.2         Form of Warrant Agreement, filed as Exhibit 4.3 to Company's Registration Statement on Form
                 10-SB (Reg. No. 0-26350) is hereby incorporated by reference.

     10.1        Loan Agreement, dated November 12, 1998, by and between LaSalle National Bank and the
                 Company, is filed herewith.

     10.2        Pledge Agreement, dated November 12, 1998, by and between LaSalle National Bank and the
                 Company, is filed herewith.

     10.3        Allegiant Bancorp, Inc. 1994 Stock Option Plan, filed as Exhibit 10.7 to Company's
                 Registration Statement on Form 10-SB (Reg. No. 0-26350) is hereby incorporated by reference.<F*>

     10.4        Allegiant Bancorp, Inc. 1996 Stock Option Plan, filed as Exhibit 4.4 to Company's Form S-8
                 (Reg. No. 0-26350) is hereby incorporated by reference.<F*>

     10.5        Allegiant Bancorp, Inc. Directors Stock Option Plan, filed as Exhibit 4.5 to Company's Form
                 S-8 (Reg. No. 0-26350) is hereby incorporated by reference.<F*>

     10.6        Allegiant Bancorp, Inc. 1989 Stock Option Plan, filed as Exhibit 4.6 to Company's Form S-8
                 (Reg. No. 0-26350) is hereby incorporated by reference.<F*>

     10.7        Deposit Transfer and Asset Purchase Agreement, dated May 8, 1997, between Roosevelt Bank and
                 Allegiant Bancorp, Inc., filed as Exhibit 10.15 to Registrant's Registration Statement on
                 Form S-4/A (Reg. No. 0-26433) is hereby incorporated by reference.

     10.8        Deposit Transfer and Asset Purchase Agreement, dated May 8, 1997, between Roosevelt Bank and
                 Allegiant Bancorp, Inc., filed as Exhibit 10.16 to Company's Registration Statement on Form
                 S-4/A (Reg. No. 0-26433) is hereby incorporated by reference.

     13          Portions of the 1998 Annual Report of the Company to its Shareholders are filed herewith.

     21.1        Subsidiaries of the Company is filed herewith.

     23.1        Consent of Ernst & Young LLP is filed herewith.

     23.2        Consent of BDO Seidman, LLP is filed herewith.

     27.1        Financial Data Schedule is filed herewith (December 31, 1998).

<FN>
-------------------------
<F*>   Management contract or compensatory plan or arrangement.

</TABLE>

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