National Capital Bancorp, Inc. Reports Fourth Quarter Earnings

National Capital Bancorp, Inc. (the "Company") NACB, the holding company for The National Capital Bank of Washington ("NCB" or the "Bank"), reported net income of $1,355,000, or $4.71 per common share, for the three months ended December 31, 2022, compared to net income of $1,323,000 or $4.62 per common share, for the quarter ended December 31, 2021. For the year ended December 31, 2022, the Company reported net income of $4,588,000, or $15.98 per share, compared to $4,646,000, or $16.23 for the year ended December 31, 2021. Solid organic loan growth during the current year has helped to offset the prior year's favorable impact from the Company's active role in the Paycheck Protection Program (PPP). In addition, the Company has benefitted from the interest rate increases instituted this year by the Federal Reserve Bank. Non-interest income declined as the Company recorded a $393,000 loss on the sale of securities in the fourth quarter of 2022 in an attempt to position the portfolio for better performance in 2023.