Access National (ANCX) Tops Q3 EPS by 4c
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Access National Corporation (NASDAQ: ANCX) reports Q3 EPS of $0.21, 4 cents better than estimates.
Earnings for the third quarter were impacted by a decrease of $7.1 million in non-interest income primarily due to a decrease in gains on the sale of loans, partially offset by a $5.5 million decrease in non-interest expense primarily due to a decrease in commissions and other expenses and a $0.7 million decrease in the provision for loan losses, compared to the second quarter of 2009.
Assets totaled $695.2 million at September 30, 2009 compared to $702.3 million at December 31, 2008, a decrease of $7.1 million. Loans held for investment totaled $489.1 million at September 30, 2009 compared to $485.9 million at December 31, 2008. Loans held for sale totaled $60.4 million, compared with $84.3 million at December 31, 2008.
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