National Capital Bancorp, Inc. Reports First Quarter Earnings
NATIONAL CAP BANCORP INC (NACB)
NASDAQ:AMEX Investor Relations:
investor.capitalbank-us.com/investor-relations
Company Research
Source: Business Wire
WASHINGTON--(BUSINESS WIRE)--National Capital Bancorp, Inc. (the “Company”) (OTC Pink: NACB), the holding company for The National Capital Bank of Washington (“NCB” or the “Bank") reported net income of $1,170,000, or $4.07 per common share, for the three months ended March 31, 2024, compared to net income of $949,000 or $3.30 per common share, for the quarter ended March 31, 2023. The earnings improvement was primarily attributable to the results of productivity improvement and cost-reduction initiatives that took place throughout 2023.Total assets increased year-over-year to $708,183,000 on March 31, 2024 compared to $661,365,000 on March 31, 2023. Total loans of $509,187,000 on March 31, 2024 increased by $12.2 million during the quarter and have increased by $70.8 million, or 16.1%, from the year before. Total deposits of $581,762,000 on March 31, 2024, increased $1.1 million during the quarter and have increased $17.2 million, or 3.0%, from the year before. While the Company
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