Company Website:
http://www.AccessNationalBank.com/IR
RESTON, Va. -- (Business Wire)
Access National Corporation (NASDAQ: ANCX) (the “Company”),
parent company for Access National Bank, announced today that it is
poised to celebrate the 10th 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).
From the founding of our company nearly 15 years ago, we have placed a
priority on being a shareholder friendly investment. 10 years ago, the
NASDAQ listing enabled us to take our shareholder friendliness to a
higher and more rewarding level. With high levels of insider ownership,
we remain closely aligned with our NASDAQ market participants and look
forward to a bright future,” Clarke concluded.
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.
Contacts:
Access National Corporation
Michael Clarke, 703-871-2100
Source: Access National Corporation
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