Access National Bank (merged into Union Bank & Trust)
Access National Bank reported total assets of $3.0 bn at Q4 2018, its last Call Report before it merged into Union Bank & Trust. The CET1 capital ratio at Access National Bank was 10.54%, and the uninsured share of Access National Bank was 41.49%. Source: FDIC Call Reports.
Key takeaways
- Since , Access National Bank has taken over one institution; the latest was The Middleburg Bank on (FDIC Call Reports).
What sets Access National Bank apart
How large is Access National Bank?
The balance sheet of Access National Bank at : assets $3.0 bn, deposits $2.3 bn, net loans $2.2 bn (loans equal to 95.15% of deposits). Securities make up 14.6% of total assets at Access National Bank. Since , when Access National Bank held $1.2 bn, its assets grew 149.2%. In the year to , deposits at Access National Bank rose 1.8% while its total assets rose 6.1%. At , Access National Bank employed 360 full-time equivalent staff across 15 offices, about $8.4 mn of assets per employee and $152.6 mn of deposits per office.
How much funding at Access National Bank is uninsured?
At Access National Bank, uninsured deposits (above the FDIC limit) made up 41.49% of domestic deposits at (+2.91 pp on a year earlier). In dollars, Access National Bank estimated $949.6 mn of uninsured deposits.
Key facts, Q4 2018
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.3 bn | $2.2 bn (Q4 2017) | |
| Net loans and leases | $2.2 bn | $2.0 bn (Q4 2017) | |
| Loan-to-deposit ratio | 95.15% | 88.74% (Q4 2017) | |
| Tier 1 leverage ratio | 8.95% | 8.51% (Q4 2017) | |
| Total risk-based capital ratio | 11.34% | 11.66% (Q4 2017) | |
| Net interest margin | 3.69% | 4.16% (Q4 2017) | |
| Return on assets (ROA) | 1.25% | 0.96% (Q4 2017) | |
| Efficiency ratio | 57.01% | 59.03% (Q4 2017) | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $9,000 | Fell by $649,000 | |
| Unrealized gain/loss on available-for-sale securities | Loss of $6.7 mn | Widened by $3.9 mn | |
| Noncurrent loans to total loans | 0.32% | 0.24% (Q4 2017) | |
| Net charge-offs to average loans | 0.06% | 0.44% (Q4 2017) |
US rank of Access National Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Access National Bank: assets, deposits and loans
- Total assets $3.0bn
- Deposits $2.3bn
- Net loans $2.2bn
Capital and securities
The CET1 ratio of Access National Bank stood at 10.54% in , -0.28 pp year on year. Low and high at Access National Bank since : 9.33% () to 11.42% (). Equity capital of Access National Bank at : $424.0 mn, or 14.0% of total assets. Access National Bank also reported a total capital ratio of 11.34% for , and a tier 1 leverage ratio of 8.95%.
On held-to-maturity securities, Access National Bank carried an unrealized gain of $9,000 at , equal to 0.0% of equity capital. The gain fell by $649,000 over the year. Its deepest point: $88,000 in . The available-for-sale portfolio of Access National Bank showed an unrealized loss of $6.7 mn at ; the loss widened by $3.9 mn over the year.
Access National Bank: capital ratios
- Total capital 11%
- CET1 11%
- Tier 1 leverage 8.9%
Access National Bank: unrealized securities gains and losses
- Available for sale -$7mn
- Held to maturity $9,000
Profitability and loan quality
For the year to , Access National Bank earned a return on equity of 8.93%; return on assets: 1.25%. Net interest margin at Access National Bank: 3.69%, -0.48 pp in a year. Access National Bank net income: $36.7 mn, up 69.8% year on year. The efficiency ratio of Access National Bank was 57.01%: about 57 cents cost per revenue dollar, against 52 cents at the median peer.
At , noncurrent loans were 0.32% of total loans at Access National Bank; net charge-offs: 0.06% of average loans. Gross loans and leases at Access National Bank: $2.2 bn at , against $2.0 bn at .
Access National Bank: profitability
- Return on equity 8.9%
- Net interest margin 3.7%
- Return on assets 1.3%
Peer group of Access National Bank
The peer group of Access National Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 0 share the charter type of Access National Bank (national bank) and 1 has its head office in Virginia. Against them, Access National Bank shows CET1 ratio 10.54% against a peer median of 14.51%, return on equity 8.93% against a peer median of 10.84% and uninsured deposit share 41.49% against a peer median of 22.62%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Heritage Bank of Commerce | State member bank | CA | $3.1 bn | 12.76% | 11.59% | 54.17% | |
| Principal Bank | Federal savings bank | IA | $3.1 bn | 13.02% | 22.49% | 13.15% | |
| Hills Bank and Trust Company | State nonmember bank | IA | $3.0 bn | 16.00% | 10.06% | 19.97% | |
| Access National Bank | National bank | VA | $3.0 bn | 10.54% | 8.93% | 41.49% | |
| Belmont Savings Bank | State-chartered stock savings bank | MA | $3.0 bn | 10.50% | 12.38% | 33.55% | |
| Burke & Herbert Bank & Trust Company | State member bank | VA | $3.0 bn | 16.00% | 10.08% | 25.24% | |
| Security Bank of Kansas City | State nonmember bank | KS | $3.0 bn | 18.92% | 9.22% | 20.00% | |
. FDIC Call Reports.
Last eight quarters
Two years at Access National Bank, to : assets $1.4 bn to $3.0 bn, deposits $1.2 bn to $2.3 bn, equity $111.2 mn to $424.0 mn. Staff 267 to 360; offices 6 to 15.
| Metric | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $1.4 bn | $2.8 bn | $2.8 bn | $2.9 bn | $2.8 bn | $2.9 bn | $3.0 bn | $3.0 bn |
| Total deposits | $1.2 bn | $2.2 bn | $2.3 bn | $2.2 bn | $2.2 bn | $2.1 bn | $2.3 bn | $2.3 bn |
| Bank equity capital | $111.2 mn | $366.0 mn | $370.5 mn | $402.3 mn | $406.4 mn | $410.0 mn | $414.0 mn | $424.0 mn |
| CET1 ratio | 9.36% | 10.66% | 10.81% | 10.82% | 11.42% | 10.99% | 10.66% | 10.54% |
| Return on equity (ROE) | 12.72% | 10.92% | 10.06% | 7.96% | 8.19% | 8.20% | 8.71% | 8.93% |
| Uninsured share of domestic deposits | 37.31% | 43.76% | 46.32% | 38.58% | 38.90% | 40.27% | 41.37% | 41.49% |
| Full-time equivalent employees | 267 | 419 | 415 | 385 | 380 | 391 | 363 | 360 |
| Number of offices | 6 | 18 | 15 | 15 | 15 | 15 | 15 | 15 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Access National Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed The Middleburg Bank (FDIC certificate 6881).
- . Merged into Union Bank & Trust (FDIC certificate 34589).
Large one-quarter moves at Access National Bank
- Total assets at Access National Bank changed by +96.9% in the quarter to 2017-06-30: Absorbtion - Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from The Middleburg Bank.
Questions and identifiers
What were the total assets of Access National Bank?
Access National Bank reported $3.0 bn at in its Call Report.
Is Access National Bank the same as its holding company?
No. This page covers Access National Bank, FDIC certificate 35189; ACCESS NATIONAL CORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Access National Bank profitable?
Access National Bank reported net income of $36.7 mn for the year to ; annualized return on equity: 8.93%. So yes: Access National Bank made a profit over these months.
When is data for Access National Bank next updated?
Access National Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Access National Bank?
In the FDIC BankFind Suite record for certificate 35189, and in the Call Reports of Access National Bank (RSSD ID 2859903) at the FFIEC Central Data Repository.