Randolph Babbitt Rejoins Access National Board of Directors
RESTON, Va.--(BUSINESS WIRE)--September 25, 2012--Access National
Corporation (NASDAQ: ANCX) (the “Corporation”), holding company for
Access National Bank, announced today that J. Randolph Babbitt has been
appointed to its Board of Directors effective today, September 25, 2012.
Mr. Babbitt was also appointed to the Board of Access National Bank (the
“Bank”) and will serve on the Bank’s Loan Committee. He will also serve
on the Nominating & Governance, Compensation and Audit Committees of
Access National Corporation.
Mr. Babbitt previously served as a Director of Access National Bank from
1999 (inception) to 2009 and its holding company Access National
Corporation from 2002 (inception) to 2009. Mr. Babbitt was required to
resign from both Boards in 2009 as part of the ethics agreement related
to his appointment as Administrator of the Federal Aviation
Mr. Babbitt is currently Managing Member of Babbitt and Associates,
Inc., an aviation consulting firm. He served as Administrator of the FAA
from 2009 – 2011. Prior to then, Mr. Babbitt was President and Chief
Executive Officer of ECLAT Consulting, Inc., an aviation consulting
practice, from its organization in 2001 until its merger into Oliver
Wyman in September 2007, where Mr. Babbitt served as a Partner. Earlier
in his career, Mr. Babbitt served as a commercial pilot and President of
the Airline Pilot’s Association.
Mr. Babbitt will be compensated for his services as a Director in the
same manner as other non-employee Directors. The cash compensation
includes a prorated portion of the $36,000 annual retainer. Mr. Babbitt
is also eligible to receive incentive awards determined by, and in the
discretion of, the Board’s Compensation Committee.
“We are pleased to have Randy rejoin our Board of Directors,” said CEO
Mike Clarke. “His extensive experience in a highly regulated industry
and skills in consulting, management and finance will be a valuable
addition to complement the skills and experience of our other Directors.”
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".
This press release contains “forward-looking statements” within the
meaning of the federal securities laws. These statements may be
identified as “may”, “could”, “expect”, “believe”, anticipate”,
“intend”, “plan” or variations thereof. These
forward-looking statements may contain information related to those
matters such as the Company’s intent, belief, or expectation with
respect to matters such as financial performance. Such statements
are necessarily based on assumptions and estimates and are inherently
subject to a variety of risks and uncertainties concerning the Company’s
operations and business environment, which are difficult to predict and
beyond control of the Company. Such risks and uncertainties could
cause the actual results of the Company to differ materially from those
matters expressed or implied in such forward-looking statements. For
an explanation of certain risks and uncertainties associated with
forward-looking statements, please refer to the Company’s Annual Report
on Form 10-K and other SEC filings.
Access National Corporation
Michael Clarke, 703-871-2100