Access National Earns $1.1 Million, YTD EPS Rise 13% (Business Wire)

Wednesday July 23, 6:32 pm ET RESTON, Va.--(BUSINESS WIRE)--Access National Corporation (NASDAQ:ANCX), holding company for Access National Bank, reported net income for the second quarter of 2008 of $1.1 million, or $.10 per diluted share compared to $1.5 million or $.13 per diluted share for the same period of the prior year and $1.7 million or $.16 per diluted share in the first quarter of 2008. For the six months ended June 30, 2008, diluted earnings per share increased 13% to $0.26 compared to $0.23 in 2007. Although the company has experienced strong improvement in its net interest margin, 2008 earnings have been impacted by a cautionary approach to guard against credit risk. The company continues to exceed regulatory thresholds to be regarded as “Well Capitalized”. During the second quarter, the allowance for loan... [read full story]