Access National Corporation (NASDAQ: ANCX) (the “Company”), parent company for Access National Bank, announced today that it is poised to celebrate the 10 th Anniversary of its common shares trading on the NASDAQ Global Market under the symbol ANCX. In recognition of this milestone, members of the Board of Directors and management will participate in the NASDAQ Closing Bell Ceremony, commencing at 3:45pm EDT Thursday, July 24, 2014 and culminating with the market close at 4:00pm EDT. The Closing Bell Ceremony is broadcast live on the NASDAQ Webcam and participating television networks such as CNBC, Bloomberg TV and Fox Business News. More information is available through NASDAQ at the following web address: http://www.nasdaq.com/marketsite/bell-event.html “It is with great satisfaction and accomplishment that our leadership participates in this ceremony,” said Michael Clarke, CEO. “The listing on NASDAQ afforded our company many benefits that have served our shareholders well. We started our business 5 years prior through a friends and family equity offering with no assurance of investor liquidity. In 2004, we found ourselves financially qualified to list with NASDAQ to create much welcomed liquidity for shareholders. With the liquidity and credibility of being a NASDAQ listed company, management was able to focus on growing the business. Meanwhile, existing and new shareholders have enjoyed the price discovery and ubiquitous liquidity of the public market that helped fuel our enterprise value. A few notable statistics of today compared to July 2004 illustrate the benefits of being listed, along with exceptional performance:
- Stock price rose from $3.50 to $15.50 per share (split adjusted);
- Market capitalization rose from $28 million to $162 million;
- Book value rose from $1.75 to $9.22 (split adjusted);
- Retained earnings rose from $7 million to over $70 million; and
- Cumulative dividends declared of $2.73 per share (split adjusted).
Access National Corporation is the parent company of Access National Bank, a $1 billion asset, nationally chartered bank serving the business community of the greater Washington DC Metropolitan area. Additional information is available on our website at www.AccessNationalBank.com. Shares of Access National Corporation are traded on the NASDAQ Global Market under the symbol "ANCX".This press release contains “forward-looking statements” within the meaning of the federal securities laws. These statements may be identified as “may”, “could”, “expect”, “believe”, anticipate”, “intend”, “plan” or variations thereof. These forward-looking statements may contain information related to those matters such as the Company’s intent, belief, or expectation with respect to matters such as financial performance. Such statements are necessarily based on assumptions and estimates and are inherently subject to a variety of risks and uncertainties concerning the Company’s operations and business environment, which are difficult to predict and beyond control of the company. Such risks and uncertainties could cause the actual results of the Company to differ materially from those matters expressed or implied in such forward-looking statements. For an explanation of certain risks and uncertainties associated with forward-looking statements, please refer to the Company’s Annual Report on Form 10-K and other SEC filings.