Access National Corp (ANCX) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Exhibit 99.1

Access National Reports Net Income of $9.6 Million for the Year Ended December 31, 2009

RESTON, Va.--(BUSINESS WIRE)--January 27, 2010--

Access National Corporation (NASDAQ: ANCX), holding company for Access National Bank, reported 2009 net income of $9.6 million, an increase of 103.1% over net income of $4.7 million reported for the same period in 2008. Earnings per diluted share was $0.92 for the year ended December 31, 2009, compared to $0.46 per diluted share recorded in 2008. Net income for the fourth quarter of 2009 totaled $2.0 million or $0.19 per diluted share, up from $1.2 million or $0.12 per diluted share for the same period in 2008. This represents the company’s 38^th consecutive quarterly profit out of a 40 quarter history.

Return on Average Assets for the year was 1.35% for 2009 compared to 0.76% in 2008. Return on average equity was 15.04% compared to 8.34% in the prior year. Book value per common share was $6.43 at December 31, 2009, an increase of 13.7% over the book value of $5.66 reported for the year in 2008.

Assets totaled $666.9 million at December 31, 2009 compared to $702.3 million at December 31, 2008. The decrease in total assets is due to a decrease of $43.2 million in investment securities that was used to reduce borrowed funds and interest-bearing deposits.

Deposits totaled $466.6 million at December 31, 2009 compared with $485.4 million at December 31, 2008, a decrease of $18.8 million. The decrease is primarily due to a deliberate reduction in rate sensitive time deposits.

Net interest margin for the year ended December 31, 2009 decreased to 3.42% from 3.47% for the year ended December 31, 2008.

Non-performing assets (NPA) at December 31, 2009 totaled approximately $11.7 million, 1.75% of total assets, down $3.8 million from the third quarter of 2009 when NPAs represented 2.23% of total assets.

During 2009 approximately $6.1 million was charged to the provision for loan losses and added to the allowance for loan losses, up from $5.4 million for the same period in 2008. Net charge offs during 2009 totaled $4.4 million. The allowance for loan losses totaled $9.1 million at December 31, 2009 and represents 1.88% of total loans held for investment.

Income was significantly enhanced during 2009 by strong earnings generated by the mortgage banking subsidiary as a result of an 83.1% increase in mortgage loan originations. During 2009 the company originated $1.6 billion in mortgage loans compared to $853.8 million in 2008.

Access National Corporation and its subsidiary bank continue to exceed standards of being “Well Capitalized” as defined under banking regulations. Retained earnings remain the largest component of stockholders equity at 59.6%. The ratio of total equity to total assets at December 31, 2009 was 10.16% compared to 8.25% at December 31, 2008. Book value per common share has grown steadily during the financial crisis.

Access National Corporation is the parent company of Access National Bank, an independent, nationally chartered bank serving the business community of the greater DC Metropolitan area. Additional information is available on our website at www.AccessNationalBank.com. Shares of Access National Corporation are traded on the NASDAQ Global 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 28, 2010 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.