Adams National Bank prospers; Reports profits top $1 million.(BUSINESS)(YOUR MONEY: STOCK VIEW)

0 Comments | Washington Times, The, October, 2006

Byline: Tom Ramstack, THE WASHINGTON TIMES Adams National Bank recorded a standout performance for a community bank last week when it reported more than $1 million in profits for only the second time in its 29 years of business. While the fortunes of many of the nation's community banks slow with a drop in the housing market, Washington-based Adams National Bank profited by focusing its loans primarily on commercial real estate in the region.

"We are pleased with our third-quarter results but realize that the current marketplace .. has no room for complacency," said Jeanne Hubbard, chief executive officer of holding company Abigail Adams National Bancorp. She mentioned rising interest rates and stiff competition among banks for loan customers as...