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NCB, FSB Reports Net Income of $5.0 Million in Fourth Quarter 2009

 Washington, DC (February 17, 2010) —Today, NCB, FSB, a federally chartered savings bank dedicated to serving cooperatives, reported a net income of $5.0 million for the fourth quarter 2009.   NCB, FSB also reported total assets of $1.6 billion and total deposits of $1.2 billion as of December 31, 2009.

 "NCB, FSB had a strong fourth quarter in 2009.  With asset quality stabilizing and strong gains on loan sales, we are proud to report positive earnings at the end of the year,” said Steven Brookner, President and CEO of NCB, FSB.

 As a result of the strong quarter the Bank’s total risk based capital increased .83% to 12.68% -- a ratio over the 10.0% requirement for financial institutions to be considered well capitalized. 

“The positive performance of the fourth quarter sets a great precedent for 2010,” said Brookner.  “We intend to continue on this course by managing our balance sheet and focusing our efforts on serving our primary customer segments; housing communities, business cooperatives and socially responsible organizations.”


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 federally chartered cooperative corporation; its wholly-owned subsidiary NCB, FSB, a federally chartered savings bank; and, NCB Capital Impact, a 501(c)3 nonprofit affiliate.  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” which may be identified by the use of words such as “intend.” 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.