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National Cooperative Bank Reports Net Income of $13.7 Million for 2012

Washington, DC (April 18, 2013) —National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products to  cooperatives nationwide, reported a net income of $13.7 million dollars for 2012.  NCB also reported total assets of $1.7 billion and total deposits of $1.2 billion as of December 31, 2012. Regulatory capital ratios at NCB’s wholly-owned thrift subsidiary, NCB, FSB, remained very strong in 2012.  As of December 31, 2012, NCB, FSB’s core capital was 12.22% of adjusted total assets and its total risk-based capital was 15.15% of total risk-weighted assets. 

“We are pleased to report that 2012 was a banner year for the Bank, with substantial growth in both lending and deposits. Our real estate lending group had a record-setting year, originating $1.25 billion in loans for housing cooperatives and unit owners nationwide and $136 million to business cooperatives through our commercial lending division,” said Charles Snyder, President and CEO of National Cooperative Bank. “We attribute our success to our continued focus on our core cooperative customers and our commitment to deepening our banking relationships by offering a wide variety of products and services.”     

About NCB: 

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, National Cooperative Bank on Facebook, or on Twitter @coopbanking.  

The NCB Financial Group consists of the Congressionally-chartered National Consumer Cooperative Bank (NCCB) and NCB, FSB, a federally insured savings bank wholly owned by NCCB. The NCB Financial Group provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations.