Washingtonfirst Bankshares, Inc. (WFBI) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Earnings Press Release
10-K Annual Report
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Washingtonfirst Bankshares, Inc.
Ticker: WFBI CIK: 1476264

FOR IMMEDIATE RELEASE

January 28, 2015

WashingtonFirst Bankshares, Inc. Reports 50% Increase in Earnings for the Year Ended December 31, 2014

RESTON, VA - Today WashingtonFirst Bankshares, Inc. (NASDAQ: WFBI) (the "Company"), the holding company for WashingtonFirst Bank (the "Bank"), reports unaudited consolidated net income available to common shareholders for the year ended December 31, 2014 of $9.3 million ($1.11 per diluted common share) compared to $6.2 million ($0.76 per diluted common share) for the year ended December 31, 2013. The Company's 50.3 percent increase in net income available to common shareholders for the year ended December 31, 2014 compared to prior year is primarily the result of continued organic growth and the Millennium Transaction consummated in first quarter 2014. Per-share amounts have been adjusted to give retroactive effect to all stock dividends.

Shaza Andersen, President & CEO of the Company, said "I am thrilled to announce a fifty percent increase in our net income available to common shareholders for 2014 compared to 2013. We successfully grew the bank organically and through the Millennium Transaction in the first quarter of 2014. Net loan growth in the fourth quarter alone was $42.1 million. In addition, we reduced our ratio of non-performing assets to total assets by 57 percent to 0.84 percent compared to 1.97 percent as of the prior year. As previously announced, we are also extremely pleased with the results of our Private Placement in December 2014, netting new capital of $20.5 million to start 2015."



	For the Year Ended December 31,
	2014			2013			2012
Performance Ratios:
Return on average assets	0.75		%	0.60		%	0.39		%
Return on average shareholders' equity	8.36		%	6.01		%	3.94		%
Return on average common equity	9.59		%	7.03		%	5.29		%
Yield on average interest-earning assets	4.51		%	4.57		%	5.02		%
Rate on average interest-earning liabilities	0.83		%	0.84		%	1.24		%
Net interest spread	3.68		%	3.73		%	3.78		%
Net interest margin	3.92		%	3.97		%	4.14		%
Efficiency ratio	66.37		%	67.20		%	75.26		%
Per Share Data:
Basic earnings per common share (1)	$	1.14		$	0.77		$	0.61
Fully diluted earnings per common share (1)	$	1.11		$	0.76		$	0.59
Weighted average basic shares outstanding (1)	8,104,062			8,004,621			3,366,412
Weighted average diluted shares outstanding (1)	8,315,434			8,126,587			3,451,436
(1) Retroactively adjusted to reflect the effect of all stock dividends.

The following information was filed by Washingtonfirst Bankshares, Inc. (WFBI) on Wednesday, January 28, 2015 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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