WASHINGTON, DC - National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products and services to cooperatives nationwide, reported consolidated earnings of $21.2 million through September 30, 2013.
“We are pleased to report the Bank’s strong corporate results at the end of the third quarter,” said Charles Snyder, President and CEO of NCB. “Our continued success can be attributed to our strong product lines and commitment to superior service. We remain a consistent source of full service banking for cooperatives, offering competitive loan, deposit and cash management solutions.”
NCB also reported total assets of $1.7 billion and total deposits of $1.2 billion as of September 30, 2013. Given the strong earnings, regulatory capital ratios at NCB’s wholly-owned thrift subsidiary, NCB, FSB continued to increase. As of September 30, 2013, NCB, FSB’s core total risk-based capital ratio stood at 17.18% and its tier 1 capital ratio was 13.59%. NCB, FSB’s tier 1 capital ratio places it in the top 20% of all banks nationwide (based on September 2013 data).
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.