Access National Corp (ANCX) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2008

Exhibit 99.1

Access National Reports 28% Increase in Income for 2008

RESTON, Va.--(BUSINESS WIRE)--January 28, 2009--

Access National Corporation (NASDAQ:ANCX), holding company for Access National Bank, reported net income for the fourth quarter of 2008 of $1.222 million, or $.12 per diluted share compared to $625 thousand or $.06 per diluted share for the same period in 2007. For the year ended December 31, 2008, net income was $4.744 million, or $.46 diluted earnings per share compared to $3.702 million or $.31 diluted earnings per share in 2007, an increase of 28%

Earnings were substantially impacted in 2008 by the $5.4 million charged to the provision for loan losses and added to the allowance for loan losses. Net charge offs for the year totaled $5.7 million as non-performing loans were charged off or written down as a result of the economic environment. The allowance for loan losses remains strong at $7.5 million and represents 1.54% of total loans held for investment at December 31, 2008.

Non-performing assets (NPA) totaled $7.3 million or 1.28% of loans held for investment and loans held for sale plus real estate owned. NPA consists of five loans totaling $2.9 million in non-accrual status and two commercial properties in other real estate owned with a value of $4.4 million.

Assets totaled $702.3 million at December 31, 2008 compared to $622.4 million at December 31, 2007. Loans held for investment totaled $485.9 million, compared to $477.6 million at December 31, 2007.

Deposits totaled $485.4 million at December 31, 2008 compared to $473.4 million at December 31, 2007, an increase of approximately $12.0 million. Non-interest bearing deposits increased $15.6 million or 26.2% and totaled $75.0 million compared to $59.4 million at December 31, 2007. Time deposits increased $43.5 million and savings and other interest bearing deposits decreased $47.1 million.

Net interest margin for the three months ended December 31, 2008 was 3.46%, up from 3.30% for the same period in 2007. Net interest margin for the year ended December 31, 2008 was 3.47% improved from 3.17% in 2007.

The company’s mortgage banking segment reported year to date origination volume of $853.8 million compared to $1.1 billion in 2007, a 20.2% decline in volume.

On January 6, 2009 the Company announced it had received preliminary approval from the U.S. Treasury to participate in the Capital Purchase Program in the amount of $16 million.

Access National Corporation and its subsidiary bank continue to exceed standards of being “Well Capitalized” as defined under banking regulations. The positive earning performance for the quarter represented the company’s 34^th consecutive quarterly profit out of its 36 quarter history.

Access National Corporation is the parent company of Access National Bank, an independent nationally chartered bank. The Bank, established in December 1999, serves the business community in the greater DC Metropolitan area. Additional information is available on our website at www.AccessNationalBank.com. The shares of Access National Corporation are traded on the NASDAQ National Market under the symbol "ANCX".

This press release contains “forward-looking statements” within the meaning of the federal securities laws. These statements may be identified as “may”, “could”, “expect”, “believe”, anticipate”, “intend”, “plan” or variations thereof. These forward-looking statements may contain information related to those matters such as the Company’s intent, belief, or expectation with respect to matters such as financial performance. Such statements are necessarily based on assumptions and estimates and are inherently subject to a variety of risks and uncertainties concerning the Company’s operations and business environment, which are difficult to predict and beyond control of the company. Such risks and uncertainties could cause the actual results of the Company to differ materially from those matters expressed or implied in such forward-looking statements. For an explanation of certain risks and uncertainties associated with forward-looking statements, please refer to the Company’s Annual Report on Form 10-K and other SEC files.

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The following information was filed by Access National Corp (ANCX) on Thursday, January 29, 2009 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.