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National Capital Bancorp, Inc. reports developments as the bank holding company for The National Capital Bank of Washington, a community banking institution serving individuals, families, businesses and the greater Washington, D.C. market. Company updates primarily cover quarterly earnings, cash dividends, net interest income, net interest margin, loan and deposit balances, credit-loss provisions, non-performing loans, liquidity and secured borrowing capacity.
Recurring announcements also include capital actions such as share repurchase authorization, completed stock-split adjustments, and governance or board leadership changes. The company’s news flow reflects a banking model centered on deposit-funded loan growth, core deposits, credit-quality monitoring and community-bank relationship activity.
National Capital Bancorp, Inc. (NACB) reported a net income of $1.164 million, or $4.06 per share, for Q2 2021, up from $357,000 or $1.25 per share in Q2 2020. The six-month net income rose to $2.119 million, compared to $594,000 in the prior year. Total assets increased to $652.729 million, and total deposits grew by $20 million to $571.755 million. The Bank reported $45 million in new PPP loans for 2021, contributing to a decline in total loans due to loan forgiveness. A dividend of $0.55 per share was declared for shareholders of record as of August 13, 2021.
National Capital Bancorp, Inc. (OTC Pink: NACB) has completed a private placement of $14 million in 3.75% Fixed-to-Floating Rate Subordinated Notes due 2031. These Notes will provide an initial fixed interest rate of 3.75% until May 15, 2026, after which they will switch to a floating rate tied to the three-month term SOFR, plus 305 basis points. The proceeds will support the growth and capital adequacy of the Bank. Piper Sandler & Co. acted as the exclusive placement agent for this offering.
The National Capital Bank of Washington (NCB) reported a net income of $955,000, or $3.34 per common share, for Q1 2021, up from $238,000, or $0.83 per share in Q1 2020. This improvement is attributed to active lending in the SBA Paycheck Protection Program (PPP), contributing to total assets of $630 million and loans of $479 million. Deposits rose to $551 million, reflecting strong support for clients following the pandemic. A corporate reorganization on April 23, 2021 aims to enhance operational flexibility for future growth.
The National Capital Bank of Washington (NCB) has declared a $0.55 per share dividend for shareholders recorded as of April 15, 2021. This $157,331.35 payout will be disbursed on April 30, 2021, covering 286,057 shares. Founded in 1889, NCB is Washington's oldest bank, operating multiple locations and offering a range of banking services. The bank is well-positioned to meet the financial needs of its community.
The National Capital Bank of Washington announced the hiring of Stephanie Lipscomb and Mauricio Benitez-Fuentes as branch managers in its Retail division. Lipscomb, with over 25 years of experience, will lead the Capitol Hill office, focusing on client relations and community engagement. Benitez-Fuentes, who has over 12 years of retail banking experience, will manage the Courthouse branch in Arlington, enhancing market share and customer service. The bank aims to bolster its community presence and relationship banking strategy.