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National Capital Bancorp, Inc. Reports Second Quarter Earnings and Quarterly Cash Dividend

WASHINGTON, DC / / July 30, 2025 / National Capital Bancorp, Inc. (the "Company") (OTCID:NACB), the holding company for The National Capital Bank of Washington ("NCB" or the "Bank") reported net income of $1,914,000, or $1.66 per common share, for the three months ended June 30, 2025, compared to net income of $1,520,000 or $1.32 per common share, for the quarter ended June 30, 2024. For the six months ended June 30, 2025, the Company reported net income of $3,587,000, or $3.12 per share, compared to $2,690,000, or $2.34 for the six months ended June 30, 2024. Earnings per share, cash dividends per share and average shares outstanding have been adjusted to reflect the November 2024 4:1 stock split paid in the form of a stock dividend. The increase in earnings was primarily attributable to higher net interest income driven by continued net interest margin expansion.

Total assets were down slightly year-over-year at $702,597,000 on June 30, 2025, compared to $715,959,000 on June 30, 2024. Total loans of $509,759,000 on June 30, 2025, decreased by $11.3 million during the quarter but have increased by $5.4 million over the past twelve months. Loan balances in the quarter were impacted by the payoff of several construction loan projects, a payoff of a maturing CRE loan, as well as lower utilization of commercial revolving credit lines. Total deposits of $611,778,000 on June 30, 2025, decreased $7.8 million during the quarter but have increased $4.1 million over the past twelve months. The Company has been focused on balanced growth with deposit growth providing funding for new loan opportunities. As a result, the Company continues to experience a relatively low reliance on wholesale funding sources and maintains strong levels of available secured borrowing capacity to meet the financing and cash flow needs of our client base as well as continuing to pursue desirable new relationship opportunities.

The Company's net interest margin of 3.68% during the second quarter of 2025 increased slightly compared with 3.65% in the first quarter of 2025 and compares very favorably with 3.27% in the second quarter of 2024. Our strong mix of core deposits has allowed the Company to maintain a more stable cost of funds and combined with a favorable shift in our asset mix, has resulted in the improved net interest margin compared with the prior year.

Total shareholders' equity increased to $63,281,000 on June 30, 2025 from $55,179,000 a year ago due primarily to the retained earnings for the past twelve months. For the six months ended June 30, 2025, the return on average assets and return on average equity was 1.04% and 11.78%, respectively.

"We are encouraged by the Bank's performance through the first half of 2025, highlighted by continued improvement in our net interest margin and meaningful progress in our efficiency ratio," said Jimmy Olevson, President and Chief Executive Officer of the Bank. "While we recognize a year-over-year slowdown in loan growth, we remain optimistic given the strength of our current loan pipeline. We remain cautious given the broader economic conditions and ongoing uncertainty in the DC market and are proactively monitoring credit quality across our loan portfolio. Our focus remains on driving long-term shareholder value, which is supported by the dedication of our exceptional team."

The Company also announced today that its Board of Directors has declared a cash dividend of $0.21 per share for shareholders of record as of August 15, 2025. The dividend payout of $241,682.70 on 1,150,870 shares is payable August 29, 2025.

In February 2025, the Board of Directors approved a share repurchase program of up to $600,000, allowing for purchases from time to time, in open market or private transactions with an expiration date of February 28, 2026. This program replaced the $300,000 share repurchase program approved in 2024. There were no share repurchases during the quarter ended June 30, 2025.

National Capital Bancorp, Inc. is the holding company for The National Capital Bank of Washington, which was founded in 1889 and is Washington's Oldest Bank. NCB is headquartered on Capitol Hill with offices in the Friendship Heights community in Northwest D.C., the Courthouse/Clarendon community in Arlington, Virginia and the Fox Hill senior living community of Bethesda, Maryland. NCB also operates residential mortgage and commercial lending offices and a wealth management services division. NCB product and service offerings include personal and business deposit accounts, robust online and mobile banking services and sophisticated treasury management solutions - all delivered with top-rated personal service. NCB is well positioned to serve all the banking needs of those in our communities. For more information about NCB, visit .

Forward-Looking Statements

This news release may contain certain forward-looking statements, such as statements of the Company's plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified using words such as "expects," "subject," "will," "intends," "will be" or "would," These statements are subject to change based on various important factors (some of which are beyond the Company's control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management's analysis of factors only as of the date of which they are given). These factors include general economic conditions, trends in interest rates, the ability of the Company to effectively manage its growth and results of regulatory examinations, among other factors. The foregoing list of important factors is not exclusive.

Contact: Randal J. Rabe, EVP, Chief Financial Officer
Phone: 202-546-8000
Email: [email protected]

SOURCE: NATIONAL CAPITAL BANCORP, INC.