The National Capital Bank of Washington (NCB) reported exceptionally strong earnings for Q1 2012, driven by robust growth across the balance sheet despite weak economic recovery.

Net income for the period was $1,091,000, eclipsing Q1 2011 by $97,000, or 9.76%. This represents the most successful quarter in the Bank’s long history.

The Bank achieved significant deposit growth as total deposits were up an impressive $33 million, or 11.07% over the same quarter of the previous year, with gains in all major deposit categories. At the end of Q1, total assets reached $388 million, up $34.8 million, or 9.84 percent, as compared to $353.9 million at the end of Q1 2011.

“Earnings on an increasing deposit volume and gains on sales of securities offset the declining net interest margins to enable NCB to achieve the best quarterly earnings in our Bank’s 123 year history,” says Richard Didden, Chairman and CEO of The National Capital Bank.

In 2012, National Capital Bank remains the only Washington, D.C.-based bank to merit the coveted A rating for exceptional safety from Weiss Ratings, the nation’s only independent provider of ratings and analyses covering the financial services industry. NCB was also the only local bank to be named among the “Top 200 Community Banks” by U.S. Banker magazine. The Bank has paid continuous dividends to its shareholders for more than 122 years.

About National Capital Bank

The National Capital Bank of Washington was founded in 1889 and is the oldest bank in Washington D.C. It has been managed by the Didden family since its founding. NCB has assets of $388 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

National Capital Bancorp (PK) (USOTC:NACB)
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