Access National Corporation Declares Quarterly Dividend
March 20 2017 - 04:30PM
Business Wire
Access National Corporation (NASDAQ: ANCX) (the
“Corporation” or “Access”), parent company for Access National
Bank, reported that the Board of Directors declared a cash dividend
of $0.15 per share for common shareholders of record as of March
31, 2017 and payable on May 25, 2017. The quarterly dividend
continues to affirm management’s favorable outlook on forward
earnings and capital adequacy after consideration of its upcoming
merger with Middleburg Financial Corporation (“Middleburg”). The
pre-merger record date will align first quarter earnings of Access
to its pre-merger shareholders of record. The merger with
Middleburg is currently on track to close in early April 2017.
The first quarter 2017 earnings report is expected to be
released on or about Friday, April 21, 2017.
Access National Corporation is the parent company of Access
National Bank, an independent, nationally chartered bank serving
the business community of the greater Washington DC Metropolitan
area. Additional information is available on our website at
www.AccessNationalBank.com. Shares of Access National Corporation
are traded on the NASDAQ Global Market under the symbol "ANCX".
About the Proposed Transaction and Where to Find It
As previously disclosed, Access and Middleburg have entered into
an Agreement and Plan of Reorganization (the "Merger Agreement")
pursuant to which Middleburg will merge with and into Access (the
"Merger"). Access will be the surviving corporation in the
Merger.
Investors are urged to review carefully and consider all public
filings by Access and Middleburg with the Securities and Exchange
Commission (the "SEC"), including but not limited to their Annual
Reports on Form 10-K, their proxy statements, their Quarterly
Reports on Form 10-Q, and their Current Reports on Form 8-K. The
documents filed with the SEC may be obtained free of charge at the
SEC's website at www.sec.gov. The documents filed by Access
with the SEC may also be obtained free of charge at Access's
website at www.accessnationalbank.com or by requesting
them in writing to Access National Corporation, 1800 Robert Fulton
Drive, Suite 300, Reston, Virginia 20191, Attention: Investor
Relations. The documents filed by Middleburg with the SEC may also
be obtained free of charge at Middleburg's website
at www.middleburgbank.com or by requesting them in
writing to Middleburg Financial Corporation, 111 West Washington
Street, Middleburg, Virginia 20117, Attention: Investor
Relations.
In connection with the Merger, Access has filed a registration
statement on Form S-4 with the SEC which includes a preliminary
joint proxy statement of Access and Middleburg and a preliminary
prospectus of Access. A definitive joint proxy statement/prospectus
was sent to the shareholders of each company seeking the required
shareholder approvals. Before making any investment decision,
investors and security holders of Access and Middleburg are urged
to read carefully the entire definitive registration statement and
definitive joint proxy statement/prospectus when they become
available, including any amendments thereto, because they contain
important information about the proposed transaction.
Information in this release is not a substitute for the
registration statement or the joint proxy statement/prospectus.
Free copies of these documents may be obtained as described
above.
Access, Middleburg and certain of their directors and executive
officers may be deemed participants in the solicitation of proxies
from Access and Middleburg shareholders in connection with the
proposed transaction. Information about the directors and officers
of each of Access and Middleburg and their ownership of Access and
Middleburg common stock, respectively, is set forth in the joint
proxy statement/prospectus.
Forward-Looking Statements
The information presented herein contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding expectations or predictions of future
financial or business performance or conditions. Forward-looking
statements may be identified by words such as "may," "could,"
"will," "expect," "believe," "anticipate," "forecast," "intend,"
"plan," "prospects," "estimate," "potential," or by variations of
such words or by similar expressions. These forward-looking
statements are subject to numerous assumptions, risks and
uncertainties which change over time. Forward-looking statements in
this communication may include, but are not limited to, statements
about project impacts of and financial results generated by the
transaction. Forward-looking statements speak only as of the date
they are made and Access assumes no duty to update forward-looking
statements.
In addition to factors previously disclosed in Access's and
Middleburg's reports filed with the SEC and those identified
elsewhere in this release, the following factors, among others,
could cause actual results to differ materially from the results
expressed in or implied by forward-looking statements and
historical performance: ability to meet closing conditions to the
Merger; delays in closing the Merger; changes in asset quality and
credit risk; changes in interest rates and capital markets; the
introduction, timing and success of business initiatives;
competitive conditions; and the inability to recognize cost savings
or revenues or to implement integration plans associated with the
Merger.
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Access National CorporationMichael Clarke, 703-871-2100
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