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Access National Q1 Profit Up 50%

Access National Corp. (ANCX), the parent company for Access National Bank, Tuesday said its first quarter profit increased 50 percent to $3.4 million or $0.33 per share from $2.3 million or $0.22 per share in the same quarter last year, helped mainly by higher interest income.

Net-interest income for the period increased to $7.9 million from $6.6 million last year. Non-interest income more than doubled to $12.1 million from $5.8 million last year. Provision for loan losses were $718 thousand, compared to $223 thousand last year.

by RTTNews Staff Writer

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