National Capital Bancorp, Inc. Reports First Quarter Earnings and Quarterly Cash Dividend
Rhea-AI Summary
National Capital Bancorp (OTCID:NACB) reported net income of $1.053M ($0.92/share) for Q1 2026 versus $1.673M ($1.46) in Q1 2025. Total assets were $735.346M, loans $530.197M, and deposits $650.663M. Board declared a $0.26 quarterly dividend payable May 29, 2026. The company approved a $900,000 share repurchase program (expiring Feb 28, 2027).
Q1 results were affected by higher provision for credit losses and $3.6M of partial charge-offs, while shareholders' equity rose to $68.534M.
Positive
- Shareholders' equity increased to $68.534M (from $61.287M a year ago)
- Board declared a $0.26 per-share cash dividend payable May 29, 2026 (aggregate $299,621)
- Board approved a $900,000 share repurchase program expiring Feb 28, 2027
Negative
- Net income declined to $1.053M in Q1 2026 from $1.673M in Q1 2025 (~37% decline)
- Provision for credit losses rose, including $3.6M partial charge-offs and $2.249M charged in Q1 2026
- Total deposits fell 4.1% QoQ to $650.663M and total loans decreased 2.2% QoQ to $530.197M
AI-generated analysis. How Rhea-AI works. Not financial advice.
WASHINGTON, D.C. / ACCESS Newswire / April 29, 2026 / National Capital Bancorp, Inc. (the "Company") (OTCID:NACB), the holding company for The National Capital Bank of Washington ("NCB" or the "Bank"), reported net income of
Total assets ended the quarter at
The Company's net interest margin of
Total shareholders' equity increased to
The Company experienced a decrease in the level of non-performing loans to
"While the credit environment remains challenging, particularly within the multi family housing sector of the DC market, we are actively addressing asset quality issues and working towards resolutions with our borrowers," said Jimmy Olevson, President and Chief Executive Officer of the Bank. "We remain focused on balanced growth across loans and deposits while maintaining a conservative underwriting approach and low reliance on wholesale funding as we continue to support our clients and community."
The Company also announced today that its Board of Directors has declared a dividend of
In February 2026, the Board of Directors approved a share repurchase program of up to
National Capital Bancorp, Inc. is the holding company for The National Capital Bank of Washington which was founded in 1889 and is Washington's Oldest Bank. NCB is headquartered on Capitol Hill with offices in the Friendship Heights community in Northwest D.C., the Courthouse/Clarendon community in Arlington, Virginia and the Fox Hill senior living community of Bethesda, Maryland. NCB also operates residential mortgage and commercial lending offices and a wealth management services division. NCB product and service offerings include personal and business deposit accounts, robust online and mobile banking services and sophisticated treasury management solutions - all delivered with top-rated personal service. NCB is well positioned to serve all the banking needs of those in our communities. For more information about NCB, visit www.nationalcapitalbank.bank.
Forward-Looking Statements
This news release may contain certain forward-looking statements, such as statements of the Company's plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," "will," "should," "may," "view," "opportunity," "potential," or similar expressions or expressions of confidence. These statements are subject to change based on various important factors (some of which are beyond the Company's control), and actual results may differ materially. These factors include, among others, the concentration of our business in the Washington, D.C. metropolitan area and the effect of changes in the economic, political and environmental conditions on this market; the adequacy of our allowance for credit losses; liquidity, interest rate and operational risks associated with our business; inflation and changes in interest rates that may reduce our margins or reduce the fair value of financial instruments; changes in the monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; geopolitical conditions, including trade restrictions and tariffs, and acts or threats of terrorism and/or military conflicts, or actions taken by the U.S. or other governments in response to trade restrictions and tariffs, and acts or threats of terrorism and/or military conflicts; technological risks and developments, and cyber threats, attacks, or events; our ability to effectively manage growth; and results of examination of us by our regulators, including the possibility that our regulators may require us to increase our allowance for credit losses or to write-down assets or take similar actions. The foregoing list of important factors is not exclusive. Accordingly, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact: William Bauder, EVP, Chief Financial Officer
Phone: 202-546-8000
Email: wbauder@nationalcapitalbank.bank
National Capital Bancorp, Inc.
Financial Highlights
(Dollars in thousands, except per share data) | Three Months Ended | |||||||
(Unaudited) | March 31 | |||||||
Condensed Statement of Income: | 2026 | 2025 | ||||||
Interest income | $ | 8,682 | $ | 8,427 | ||||
Interest expense | 2,383 | 2,348 | ||||||
Net interest income | 6,299 | 6,079 | ||||||
Provision for credit losses | 1,799 | 65 | ||||||
Net interest income after provision | 4,500 | 6,014 | ||||||
Non-interest income | 1,316 | 822 | ||||||
Non-interest expense | 4,538 | 4,581 | ||||||
Income before taxes | 1,278 | 2,255 | ||||||
Income tax provision | 225 | 582 | ||||||
Net income | $ | 1,053 | $ | 1,673 | ||||
Share Data: | ||||||||
Weighted avg no. of shares outstanding | 1,150,809 | 1,148,218 | ||||||
Period end shares outstanding | 1,152,388 | 1,150,012 | ||||||
Per Common Share Data: | ||||||||
Net income | $ | 0.92 | $ | 1.46 | ||||
Closing Stock Price | $ | 66.49 | $ | 70.00 | ||||
Book Value | $ | 59.47 | $ | 53.29 | ||||
Profitability Ratios, Annualized: | ||||||||
Return on average shareholders' equity | 6.19 | % | 11.21 | % | ||||
Return on average total assets | 0.57 | % | 0.97 | % | ||||
Efficiency ratio | 59.59 | % | 66.38 | % | ||||
Condensed Balance Sheets: | March 31 | December 31 | March 31 | |||||||||
2026 | 2025 | 2025 | ||||||||||
Assets | ||||||||||||
Cash and equivalents | $ | 66,393 | $ | 81,245 | $ | 46,846 | ||||||
Securities, available for sale | 55,881 | 57,307 | 60,991 | |||||||||
Securities, held to maturity | 57,908 | 57,936 | 61,402 | |||||||||
Loans, held in portfolio | 530,197 | 541,878 | 521,089 | |||||||||
Allowance for credit losses | (6,125 | ) | (6,575 | ) | (6,190 | ) | ||||||
Premises and equipment, net | 6,609 | 6,403 | 6,489 | |||||||||
Bank owned life insurance | 14,912 | 15,118 | 14,847 | |||||||||
Other assets | 9,571 | 10,439 | 11,297 | |||||||||
Total assets | $ | 735,346 | $ | 763,751 | $ | 716,771 | ||||||
Liabilities and shareholders' equity | ||||||||||||
Deposits | $ | 650,663 | $ | 678,192 | $ | 619,556 | ||||||
FHLB advances and other borrowings | 0 | 0 | 18,000 | |||||||||
Subordinated notes, net of issuance cost | 13,857 | 13,843 | 13,802 | |||||||||
Other liabilities | 2,292 | 4,059 | 4,126 | |||||||||
Shareholders' equity | 68,534 | 67,657 | 61,287 | |||||||||
Total liabilities and shareholders' equity | $ | 735,346 | $ | 763,751 | $ | 716,771 | ||||||
Other Data: | ||||||||||||
Non-performing loans to total loans | 2.24 | % | 2.55 | % | 0.80 | % | ||||||
Allowance to total loans | 1.16 | % | 1.21 | % | 1.19 | % | ||||||
Net charge-offs to average loans | 1.68 | % | 0.26 | % | 0.00 | % | ||||||
Loan-to-deposit ratio | 81.49 | % | 79.90 | % | 84.11 | % | ||||||
Net interest margin for the quarter | 3.51 | % | 3.55 | % | 3.65 | % | ||||||
Net interest margin for the year | 3.51 | % | 3.62 | % | 3.65 | % | ||||||
SOURCE: National Capital Bancorp, Inc.
View the original press release on ACCESS Newswire