NCB, FSB Reports Net Income of $4.78 Million for Third Quarter

Arlington, VA  (November 9, 2010) —Today, NCB, FSB, a federally chartered savings bank committed to serving cooperatives nationwide, reported a net income of nearly $4.8 million for the third quarter 2010.   NCB, FSB also reported total assets of $1.46 billion and total deposits of $1.1 billion as of September 30, 2010.    

As a result of the strong quarter, the Bank’s total risk based capital increased .95% from 13.72% in the second quarter of 2010 to 14.67% for the third quarter of 2010 -- a ratio over the 10.0% requirement for financial institutions to be considered well capitalized.   


“NCB, FSB experienced tremendous financial results during the third quarter 2010 and is on track to continue this positive performance during the remainder of the year and beyond,” said Steven Brookner, President and CEO of NCB, FSB.  “The results speak to the Bank’s continued focus on its core customers—housing communities, business cooperatives and socially-responsible organizations nationwide offering competitive banking products and services to meet their needs. 
 

### 

NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop.  

NCB Financial Group (NCB) consists of National Consumer Cooperative Bank, a wholesale funding company; NCB, FSB, a federally chartered savings bank; and, NCB Capital Impact, a 501(c)3 nonprofit.  Loans and other financial services are provided by NCB, FSB and NCB Capital Impact.   Deposit products and services are provided by NCB, FSB, which is a member FDIC.   Each is a separate corporation within the NCB Financial Group. 

This news release contains certain “forward-looking statements”.  Examples of forward-looking statements include, but are not limited to, estimates with respect to NCB’s financial condition, results of operations and business that are subject to various factors which could cause actual results to differ materially from these estimates and most other statements that are not historical in nature. These factors include, but are not limited to, general and local economic conditions, changes in interest rates, debt covenants and compliance projections, other-than-temporary impairment evaluations, deposit flows, demand for mortgage, commercial and other loans, real estate values, performance of collateral underlying certain securities, competition, changes in accounting principles, policies, or guidelines, changes in legislation or regulation, and other economic, competitive, governmental, regulatory, and technological factors affecting NCB’s operations, pricing products and services.