• NASDAQ : ANCX

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Press Release

Access National Bank Offers Support to Businesses Affected by Impending Government Shutdown

Company Release - 2/8/2018 5:25 PM ET

RESTON, Va.--(BUSINESS WIRE)-- With the threat of government shutdown becoming more imminent by the hour, Access National Bank (“Access” or “the Bank”) is doubling down on its promise to assist government contractors and other businesses in the wake of political turbulence.

“Given the uncertainty of our elected officials passing a longer-term budget, now is the time to see what pragmatic solutions your bank has during a government shutdown,” Mark Moore, President of Access National Bank, said.

Clients of the Bank reported challenges associated with the 2013 shutdown, which led Access to adopt short-term adjustments in its commercial banking options.

“Adjustments to conventional borrowing base protocol and modifications to existing loan terms can ensure a continuation of cash flow,” Moore added.

The banking team at Access and its Middleburg Bank division work one-on-one with its clients to reduce cash flow funding disruptions in industry-specific segments. Government Contracting, in particular, is the Bank’s No. 1 industry vertical.

“Our role as trusted advisers is to be ready for anything,” Adam Nalls, SVP & Team Leader, Government Contractor Lending, for the Bank, said. “Unfortunately, there’s no ‘tried and true’ roadmap to lead us there. But, our staff has the experience to provide a more nuanced approach for problem-solving.”

Both Moore and Nalls encourage any business affected by impending government shutdowns to contact its banking relationship manager to discuss resolutions, questions, and concerns.

“Regardless if Congress and the Executive branch reach an agreement, the looming dynamic underscores why businesses must feel secure about their banking relationships,” Moore said.

Access National Bank was founded in 1999 by professional bankers and business people. It is an independent, nationally chartered bank based in Reston, Virginia that serves the Greater Washington DC Metropolitan area. In April 2017, the merger with Middleburg Bank (founded in 1924) was completed, creating Virginia’s premier bank with enhanced scale, improved efficiency and a well-diversified business model. Access National Bank is a subsidiary of Access National Corporation and trades on the NASDAQ Global Market under the symbol “ANCX.” Additional information is available at www.AccessNationalBank.com. Member FDIC.

Access National Bank
Michael Clarke, CEO
703-871-2100

Source: Access National Bank