Access National Reports 88% Increase in Q1 Earnings, Boosts Dividend

Access National

, parent company for Access National Bank, reported first quarter net income of $2.3 million, a 88.1% increase over the $1.2 million recorded in the first quarter of 2010. This represents the company's 43rd consecutive quarterly profit. Net income per diluted common share was $0.22, an increase of 100.0% over the $0.11 reported in the first quarter of 2010. The Board of Directors also declared a cash dividend of $0.03 per share for shareholders of record as of May 5, 2011 and payable on May 25, 2011. The dividend represents a $0.01 increase over the per share dividend paid in the prior quarter on February 25, 2011.