National Capital Bank of Washington Announces Record Year-End Earnings
National Capital Bank of Washington Announces Record Year-End Earnings
Deposit Growth Up Over 21%; Net Income Up 2%
WASHINGTON--(BUSINESS WIRE)-- The National Capital Bank of Washington (NCB) reported record earnings for year-end 2012, with robust growth in total assets.
Net income for the year was $4.22 million—up from last year by $89,100, an increase of 2.2% — making 2012 NCB's top performing year in its 123 year history.
Year-end assets totaled $435.8 million, up 18.1%, as compared to last year's $368.9 million. At yearend, its share price was $258.80 - an increase of 24.4% from 2011. The Board of Directors declared a special dividend of $1.20 payable in December, 2012, to complement the regular quarterly dividend of $1.80.
NCB reported no delinquent loans of 90 days or more—making it a standout in the industry for safety and soundness. Bauer Financial has awarded the Bank its five star rating for the 96th consecutive quarter, earning NCB an "Exceptional Performance Award." They remain the only financial institution in the metropolitan area to receive this honor.
"Even in this challenging economic climate, National Capital's dedication to sound financial fundamentals together with the expertise of our professional staff allowed us to achieve the highest net income in our long history," says Richard A. Didden, NCB Chairman and Chief Executive Officer. The Bank was recently recognized as a "top performing bank" in the Eastern United States in an article by Bank News, and was the proud honoree of the 2012 "Professional Service of the Year" from 'Ready, Willing & Working' for its generous contributions in support of their mission to empower individuals to break the cycles of homelessness.
The National Capital Bank of Washington was founded in 1889 and has been managed by the Didden family for 124 years. NCB has assets of $435.8 million and is headquartered on Capitol Hill with a second branch located in Friendship Heights. The bank has been recognized over the last decade with numerous accolades for its safety and soundness, exceptional performance, small business loans, and for being named one of the top banks and thrifts, a 100-year old small business of the year, and top commercial lender. NCB trades under the symbol NACB. For more information about NCB, go to www.nationalcapitalbank.com
The National Capital Bank of Washington
David Glaser, 202-546-8000
dglaser@ncbwash.com
KEYWORDS: United States North America District of Columbia
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