Access National Corp (ANCX) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Exhibit 99.1

Access National Reports 91% Increase in Fourth Quarter Earnings, Dividend Increased

RESTON, Va.--(BUSINESS WIRE)--January 22, 2013--

Based on record earnings, strong capital and favorable outlook, the Board of Directors declared a cash dividend of $0.09 per share for holders of record as of February 11, 2013 and payable on February 25, 2013. This dividend is in addition to the $0.70 non-routine dividend paid in the fourth quarter of 2012 and represents a 1 cent increase from the prior quarter and an 8 cent cumulative increase over the past 2 years.

The $3.0 million increase in net income between the fourth quarter of 2012 and 2011 is mainly attributable to activity in our mortgage division. Net income increased 55.6% for the year ended December 31, 2012 totaling $17.7 million compared to $11.4 million for the year 2011. Net interest margin was 3.94% for 2012 compared to 3.82% for 2011. Diluted earnings per share were $1.71 compared to $1.10 in 2011.

Annualized return on average assets was 2.97% for the fourth quarter of 2012 compared to 1.61% for the same quarter of 2011. Annualized return on average equity was 26.80% for the quarter ended December 31, 2012 compared to 15.87% for last year.

Total assets amounted to $863.9 million compared to $809.8 million at December 31, 2011. The increase in assets is mainly attributable to a $46.8 million or 8% growth in net loans held for investment as well as a $16.4 million or 17% growth in loans held for sale. The growth in loans held for investment was driven by a 13.3% growth in commercial and industrial loans to the bank’s target market. The asset growth was funded by a 4% growth in total deposits as well as short-term borrowings from the Federal Home Loan Bank.

Total deposits at December 31, 2012 increased $26.5 million from December 31, 2011. As a result of management’s continued focus on expanding business banking relationships, noninterest-bearing deposits increased $50.3 million or 44.1% from December 31, 2011, and comprised 24.5% of the deposit portfolio, up from 17.66% at December 31, 2011.

Non-performing assets (NPAs) decreased to $2.7 million or 0.32% of total assets at December 31, 2012, down from $3.6 million or 0.43% of assets at September 30, 2012. The Corporation did not have other real estate owned at December 31, 2012. The allowance for loan losses totaled $12.5 million or 2.03% of total loans held for investment as of December 31, 2012.

Net of the $0.95 in dividends paid during the year, book value per common share increased 8.9% at December 31, 2012 to $8.85, compared to $8.13 at December 31, 2011. The ratio of total equity to total assets for Access National Corporation was 10.56% at December 31, 2012 and continued to exceed standards of being “Well Capitalized” as set forth under banking regulations.

Access National Corporation is the parent company of Access National Bank, an independent, nationally chartered bank serving the business community of the greater Washington 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 filings.