Access National Corporation · Reston, VA United States ·(NASDAQ (GM): ANCX)
Company Description
Phone: 703-871-2100
Fax: 703-766-3386
Toll Free: 800-931-0370
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This link will open in a new window Enabling easy access to your money is Access National's aim. The holding company for Access National Bank, a thrift founded in 1999, serves the Washington, DC, area. It offers standard services including checking and savings accounts, IRAs, CDs, and loans to consumers and small to midsized businesses. Bank subsidiary Access National Mortgage originates residential real estate loans. Commercial real estate loans make up more than 40% of the company's portfolio; residential real estate accounts for about another third. Consumer, home equity, real estate construction, and business loans round out its lending activities. To read the full description, subscribe now.
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Key Access National Corporation Financials
| Company Type | Public - NASDAQ (GM): ANCX Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $51.9 |
| 2008 Employees | 285 |
Access National Corporation Executives
10 executives listed for Access National Corporation's Reston, VA location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO, Access National and Access National Bank | Michael Clarke | Network |
| EVP and CFO, Access National and Access National Bank | Charles Wimer | Network |
| EVP and CFO, Access National and Access National Bank | James Hutchison | Network |
Competition
Competitive Landscape for Access National Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Access National Corporation Competitors
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