NATIONAL CAP BANCORP INC - NACB STOCK NEWS

National Capital Bancorp, Inc. (OTC Pink: NACB) reported net income of $1,520,000, or $5.28 per share, for Q2 2024, up from $1,190,000 in Q2 2023. For H1 2024, net income was $2,690,000, or $9.35 per share, compared to $2,139,000 in H1 2023. The improvement was attributed to productivity initiatives and a rebounding net interest margin. Total assets reached $715,959,000, with loans at $504,385,000 and deposits at $607,632,000. The company's net interest margin improved to 3.27% in Q2 2024. A dividend of $0.66 per share was declared, payable August 29, 2024. The company also repurchased 300 shares at an average price of $175.55 during Q2 2024.

National Capital Bancorp, Inc., the holding company for The National Capital Bank of Washington, reported a net income of $1,170,000 for the first quarter of 2024, showing an improvement over the previous year. Total assets, loans, and deposits increased year-over-year. The Company's net interest margin remained stable, but lower compared to the first quarter of 2023. Total shareholders' equity also increased. The Board declared a dividend of $0.66 per share and approved a share repurchase program of up to $300,000.

National Capital Bancorp, Inc. reported net income of $1,088,000 for the three months ended December 31, 2023, compared to $1,355,000 for the same period in 2022. For the year ended December 31, 2023, the Company reported net income of $4,363,000, compared to $4,588,000 in 2022. The recovery of provision for credit losses in the prior year and a stronger net interest margin were the leading factors in the decrease in Company profitability in the fourth quarter of 2023. The Company has implemented cost reduction initiatives to help offset the pressure from increased funding costs. Total assets increased to $703,051,000 on December 31, 2023, and total loans increased by $19.9 million during the quarter. While the net interest margin decreased slightly, the Company saw strong core deposit growth in the fourth quarter, reflecting the efforts of the commercial and retail team members. The Company's Board of Directors declared a dividend of $0.66 per share for shareholders of record as of February 14, 2024, representing a 10.0% increase over the prior quarterly dividend.

National Capital Bancorp, Inc. reports net income of $1,136,000 for Q3 2023, compared to $1,285,000 in Q3 2022. Total assets increased to $682,002,000. Total loans increased by $12.0 million during the quarter and $52.0 million on a year-to-date basis. Total deposits remained stable at $560,930,000. The company's net interest margin was 3.23% in Q3 2023. Total shareholders' equity increased to $49,542,000. The company declared a dividend of $0.60 per share.

National Capital Bancorp, Inc. (OTC Pink: NACB) reported net income of $1.19 million for Q2 2023, compared to $1.11 million in Q2 2022. Total assets increased to $673.2 million. Total loans increased by $26.7 million during the quarter. Total deposits remained stable at $563.8 million. The company's net interest margin was 3.30% in Q2 2023. Total shareholders' equity increased to $50.4 million. The company declared a dividend of $0.60 per share.

National Capital Bancorp (NACB) reported a net income of $949,000, or $3.30 per share for Q1 2023, compared to $837,000 or $2.92 per share in Q1 2022, driven by improved net interest margin of 3.45%. Despite a year-over-year decrease in total assets to $661.4 million, total loans increased to $438.4 million. Deposits, however, fell by $7.2 million to $564.6 million. The bank aims to reassure clients about safety following the recent bank failures and provides enhanced FDIC coverage options. The Board declared a dividend of $0.60 per share, payable on May 30, 2023.

National Capital Bancorp, Inc. (OTC Pink: NACB) reported a net income of $1,355,000 ($4.71 per share) for Q4 2022, up from $1,323,000 ($4.62 per share) in Q4 2021. For the year, net income was $4,588,000 ($15.98 per share), compared to $4,646,000 ($16.23) in 2021. Total loans grew to $425,149,000, marking a $51 million organic growth in 2022. However, total assets dropped to $644,156,000 from $734,709,000 year-over-year. The company declared a dividend of $0.60 per share, payable February 28, 2023. The net interest margin improved to 3.51% in Q4 2022. Total deposits fell to $571,751,000, reflecting a decrease in client deposits.

The National Capital Bank of Washington (NACB) has welcomed Daryl P. Drumming as Vice President and Branch Manager of its Friendship Heights branch. Drumming brings over 30 years of community banking experience, previously serving at PNC in Tenleytown. His role will focus on expanding market share and enhancing customer service. NACB, established in 1889, is known for its strong community presence, offering a range of banking services. President Jimmy Olevson expressed confidence in Drumming’s leadership and commitment to relationship banking, anticipating positive contributions to the bank's growth.

National Capital Bancorp, Inc. announced that Richard B. (Randy) Anderson, Jr. will retire as CEO of its subsidiary, The National Capital Bank of Washington, effective December 31, 2022, after 47 years in the industry. He will continue as President and CEO of the Company. James Olevson, previously the Bank's President since April 2022, has been appointed as the new CEO effective January 1, 2023. Olevson brings over 25 years of community banking experience and is expected to bolster leadership at the Bank.