Access National Corp. (ANCX), the parent company of Access National Bank, is a small cap that serves throughout the Washington D.C. area. While most regionals would be content with averaging close to a 15% return on equity throughout the last three years, ANCX is not, and has plans to re-focus its efforts in the Washington D.C. area by closing shop at its mortgage production branch in Denver (closed 4/30/13) and looking for small underperforming banks in its backyard to acquire and turnaround.
In addition to refocusing on its primary market and looking for acquisitions, below I have outlined several fundamental trends that I believe set ANCX up in a position...
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