Access National Corporation (NASDAQ: ANCX), parent company for Access National Bank (Bank), reported third quarter net income of $2.8 million, or $0.27 per share. This represents the Corporation’s 53 rd consecutive quarterly profit over its 55 quarter history. Consistent with management’s stated objective of a 40% payout ratio against core earnings, the Board of Directors declared a cash dividend of $0.11 per share for holders of record as of November 6, 2013 and payable on November 25, 2013. The third quarter of 2013 reflects a 17% increase in banking segment pretax earnings in comparison to the third quarter of 2012. The mortgage segment contribution declined 53% for the nine months ended September 30, 2013 in comparison with the same period in 2012 due to a reduction in volume and gain on sale margin. While the company has suffered volume reduction and margin compression consistent with the overall market, the mortgage segment has experienced further reductions in volume due to the strategic decision to close a significant out-of-market office in April 2013. The third quarter of 2013 represented a transition period for the mortgage segment as it reported near break-even performance while overhead staffing was reduced to align overhead with expected production. Through September 30, 2013, the mortgage division’s pre-tax contribution is 30%, which aligns with management’s intent, being that 70-80% of the Corporation’s net income is generated from the core business of the Bank. While mortgage banking remains an important component of both the client and shareholder value proposition, the extraordinary mortgage contributions of prior years are not expected to return. In order to blunt the adverse impact of a mortgage segment in transition, the commercial banking segment elected to sell $10.6 million of SBA Guaranteed loans that resulted in an after-tax gain of $602 thousand. Net interest margin for the first nine months of 2013 decreased to 3.83% from 3.95% for the same period in 2012. On a linked quarter basis, the 3.88% margin was essentially flat for the three months ended September 30, 2013 compared to 3.89% reported in the prior quarter.