EX-99
2
jab2005ex99.txt
PRESS RELEASE

FOR IMMEDIATE RELEASE
Date:         January 24, 2005
Contact:      Kathleen Walsh Carr
              202.772.3711


               Abigail Adams National Bancorp, Inc. Reports Fourth
                   Quarter Earnings Per Share Growth of 25.9%

Washington, DC - Abigail Adams National Bancorp, Inc. (NASDAQ:AANB),  the parent
holding  company of The Adams  National  Bank,  announced  record fourth quarter
earnings of $0.34 per diluted  share for the quarter  ended  December  31, 2004,
compared to $0.27 per diluted  share in 2003,  an increase of 25.9%.  Net income
for the fourth quarter 2004 was  $1,015,000,  versus $819,000 for the comparable
period last year.  The  returns on assets and equity for the quarter  were 1.63%
and 16.37%, respectively,  compared to 1.47% and 14.38%, respectively,  reported
for the fourth quarter of 2003.

Total assets at December 31, 2004 were  $251,192,000,  concentrated  in loans of
$180,272,000,  a 15.5% increase in total loans over December 31, 2003.  Deposits
grew 11.7% to $215,367,000.  At December 31, 2004, the allowance for loan losses
was 1.42% of total loans and was 136% of  non-performing  assets.  Asset quality
improved  in 2004 as  indicated  by the ratio of  nonperforming  assets to total
assets,  which declined from 1.24% at December 31, 2003 to 0.75% at December 31,
2004.

Net income for 2004  increased by 13.9% to  $3,602,000,  compared to  $3,161,000
earned in 2003.  Earnings  per  diluted  share for the year 2004 were $1.19 or a
13.3%  increase  over 2003.  The 2004 net  interest  margin  improved  to 5.34%,
compared  to 5.18% for 2003.  For the year,  the  return on  average  assets was
1.55%, with return on average equity of 15.21%.  The efficiency ratio was 53.7%,
compared to 53.2% for the year ended December 31, 2003.

Kate Carr,  President and CEO said,  "We are pleased with the momentum of growth
in assets and earnings.  The results  reflect solid returns on our investment in
infrastructure, systems and personnel over the past year. Adams National Bank is
now positioned to capitalize on the strong,  vibrant economy in the Metropolitan
Washington area."

As a result of the continued  strong  performance  of the Company,  the Board of
Directors declared a quarterly dividend of $0.125 per share paid on December 29,
2004 to stockholders  of record on December 15, 2004. In addition,  the Board of
Directors  declared a 10% stock  dividend  distributed  on January 14, 2005,  to
shareholders of record on January 3, 2005.



The Adams National Bank is focused on serving  minorities,  small businesses and
not-for-profit organizations in the Washington, DC area. The Adams National Bank
offers a full line of banking services including business and real estate loans,
as well as deposit  services.  All information for the period ended December 31,
2004 has been derived from unaudited financial information.


SOURCE:  The Adams National Bank
ATTACHMENT:  Selected Financial Data



                Abigail Adams National Bancorp, Inc. & Subsidiary
                             Selected Financial Data
                                   (unaudited)
                           December 31, 2004 and 2003
Three Months Ended: Twelve Months Ended: ----------------------------------- ----------------------------------- 12/31/2004 12/31/2003 12/31/2004 12/31/2003 --------------- ---------------- --------------- ---------------- Income statement: Interest income 3,718,130 3,228,451 13,829,546 12,555,815 Interest expense 562,672 493,900 1,986,426 2,094,420 --------------- ---------------- --------------- ---------------- Net interest income 3,155,458 2,734,551 11,843,120 10,461,395 --------------- ---------------- --------------- ---------------- Provision for loan losses 105,000 120,000 420,000 591,065 Net interest income after provision for loan losses 3,050,458 2,614,551 11,423,120 9,870,330 --------------- ---------------- --------------- ---------------- Noninterest income 605,093 503,511 1,974,511 2,034,580 Noninterest expense 1,971,159 1,754,621 7,414,803 6,645,710 --------------- ---------------- --------------- ---------------- Income before taxes 1,684,392 1,363,441 5,982,828 5,259,200 Provision for income tax expense 669,649 544,697 2,381,117 2,098,111 --------------- ---------------- --------------- ---------------- Net income 1,014,743 818,744 3,601,711 3,161,089 =============== ================ =============== ================ Per share data: Basic earnings per share $0.34 $0.27 $1.19 $1.05 Diluted earnings per share $0.34 $0.27 $1.19 $1.05 Dividends paid on common shares $0.13 $0.13 $0.50 $0.50 Average shares outstanding - Basic 3,020,913 3,014,343 3,017,251 3,009,594 Average shares outstanding - Diluted 3,028,118 3,026,403 3,027,012 3,024,072 Consolidated balance sheet: Assets: Cash & due from banks 5,108,881 9,746,854 Short-term investments 12,793,794 18,821,014 Investment securities 50,834,674 44,417,613 Loans, gross 180,272,019 156,034,227 Allowance for loan losses (2,557,987) (2,119,448) Other assets 4,740,906 5,005,535 --------------- ---------------- Total assets 251,192,287 231,905,795 =============== ================ Liabilities: Deposits 215,367,078 192,756,407 Short-term borrowings 2,667,414 5,390,326 Long-term borrowings 7,126,751 10,030,117 Accrued expenses & other liabilities 1,271,060 853,863 --------------- ---------------- Total liabilities 226,432,303 209,030,713 --------------- ---------------- Stockholders' equity: Capital stock 30,374 30,308 Surplus 17,277,434 17,241,143 Retained earnings 7,452,176 5,603,631 --------------- ---------------- Total stockholders' equity 24,759,984 22,875,082 --------------- ---------------- Total liabilities & stockholders' equity 251,192,287 231,905,795 =============== ================ Performance ratios: Book value per share $8.20 $7.59 Return on average assets 1.63% 1.47% 1.55% 1.49% Return on average stockholders' equity 16.37% 14.38% 15.21% 14.32% Net interest margin 5.31% 5.16% 5.34% 5.18% Efficiency ratio 52.42% 54.19% 53.66% 53.18% Ratio of nonperforming assets to total assets 0.75% 1.24% Allowance for loan losses to loans 1.42% 1.36% Allowance for loan losses to nonperforming assets 135.99% 73.78%

The following information was filed by Abigail Adams National Bancorp Inc on Tuesday, January 25, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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