Access National Declares Dividend, Reports Fourth Quarter Earnings

RESTON, Va.--(BUSINESS WIRE)--Access National Corporation (NASDAQ: ANCX) (the “Corporation” or “Access”), parent company for Access National Bank (Bank), reported fourth quarter 2016 net income of $3.0 million, or $0.28 per common share. This represents the Corporation’s 66th consecutive quarterly profit over its 68 quarter history. Consistent with management’s stated objective of a 40%-50% dividend payout ratio against core earnings, the Board of Directors declared a cash dividend of $0.15 per share for common shareholders of record as of February 3, 2017 and payable on February 24, 2017. This quarterly dividend continues to affirm management’s favorable outlook on forward earnings and capital adequacy even after consideration of its upcoming merger with Middleburg Financial Corporation (“Middleburg”).