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National Cooperative Bank Reports Earnings of $21.2 Million for 2013

 Arlington, VA (March 24, 2014) — National Cooperative Bank (NCB), a leading financial institution for cooperatives across the country, reports earnings of $21.2 million at the end of 2013. Total assets as of December 31, 2013 increased to $1.8 billion, up from $1.7 billion the previous year. The regulatory capital ratios at NCB’s wholly-owned thrift subsidiary, NCB, FSB, remained strong with its total risk-based capital of 16.62%, an improvement over the prior year. 

“The previous year marked new highs for the Bank, increasing our earnings substantially, with all lines of business experiencing positive growth,” said Charles E. Snyder, NCB President and CEO. “Our constant focus on innovative financial solutions for our core cooperative business, along with an expansion of banking products to serve commercial and housing cooperatives and credit union correspondent banking services, were key factors to achieving these results. We are excited for 2014 as our teams work closely with cooperatives throughout the country to pioneer new programs to further the development and expansions of member-owned organizations.” 

 

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.