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1/31/2019 Member News
National Capital Bank of Washington Reports Fourth Quarter Earnings

The National Capital Bank of Washington Reports Fourth Quarter Earnings


WASHINGTON, Jan. 30, 2019 /PRNewswire/ -- The National Capital Bank of Washington (NCB) reported net income of $814,000, or $2.86 per common share, for the three months ended December 31, 2018, compared to a net loss of $(277,000) or $(0.96) per share for the quarter ended December 31, 2017. Included in the prior year net loss was a one-time write-down of $880,000 of deferred tax assets due to the change in corporate tax rates for 2018. For the year ended December 31, 2018, NCB reported net income of $2,647,000, or $9.23 per share, compared to $1,971,000, or $6.83 for the year ended December 31, 2017. In addition to the deferred tax asset write-down, the results for 2017 included a reversal of loan provision expense in the amount of $1,264,000. Non-performing loans to total loans decreased from 0.20% to 0.16% over the last year.

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