SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996].
For the fiscal year ended December 31, 2004
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OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [NO FEE REQUIRED].
For the transition period from _______________ to ______________________
Commission File Number 000-25505
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A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
NCRIC Group, Inc. 401(k) Profit Sharing Plan and Trust
B: Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
NCRIC Group, Inc.
1115 30th Street, N.W.
Washington, D.C. 20007
SUMMARY ANNUAL REPORT
FOR NCRIC, INC. 401(K) PROFIT SHARING PLAN AND TRUST
This is a summary of the annual report for the NCRIC, Inc. 401(k) Profit Sharing
Plan and Trust, EIN 52-2134774, Plan No. 002, for the period January 1, 2004
through December 31, 2004. The annual report has been filed with the Employee
Benefits Security Administration, U.S. Department of Labor, as required under
the Employee Retirement Income Security Act of 1974 (ERISA).
Basic Financial Statement
Benefits under the plan are provided through a trust fund. Plan expenses were
$151,913. These expenses included $151,193 in benefits paid to participants and
beneficiaries. A total of 128 persons were participants in or beneficiaries of
the plan at the end of the plan year, although not all of these persons had yet
earned the right to receive benefits.
The value of plan assets, after subtracting liabilities of the plan, was
$6,959,740 as of December 31, 2004, compared to $5,898,772 as of January 1,
2004. During the plan year the plan experienced an increase in its net assets of
$1,060,968. This increase includes unrealized appreciation and depreciation in
the value of plan assets; that is, the difference between the value of the
plan's assets at the end of the year and the value of the assets at the
beginning of the year or the cost of assets acquired during the year. The plan
had total income of $1,212,881 including employer contributions of $420,087,
employee contributions of $350,778, and earnings from investments of $442,016.
Your Rights To Additional Information
You have the right to receive a copy of the full annual report, or any part
thereof, on request. The items listed below are included in that report:
1. financial information.
To obtain a copy of the full annual report, or any part thereof, write or call
NCRIC Group, Inc., 1115 30th Street, NW, Washington, DC 20007, (202) 969-1866.
The plan has met the requirements to waive the annual examination and report of
an independent qualified public accountant. As of the end of the plan year, the
following regulated financial institution(s) held or issued plan assets that
qualified under the waiver: Merrill Lynch $6,394,967. You have the right to
examine or receive from the plan administrator, on request and at no charge,
copies of statements from the regulated financial institutions describing the
qualifying plan assets. If you are unable to examine or obtain these documents,
contact a EBSA Regional Office for assistance. Information about contacting EBSA
regional offices can be found on the Internet at http://www.dol.gov/ebsa.
You also have the legally protected right to examine the annual report at the
main office of the plan (NCRIC Group, Inc., 1115 30th Street, NW, Washington, DC
20007) and at the U.S. Department of Labor in Washington, D.C., or to obtain a
copy from the U.S. Department of Labor upon payment of copying costs. Requests
to the Department should be addressed to: Public Disclosure Room, Room N1513,
Employee Benefits Security Administration, U.S. Department of Labor, 200
Constitution Avenue, N.W., Washington, D.C. 20210.
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SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of
1934, the trustees (or other persons who administer the employee benefit plan)
have duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
NCRIC GROUP, INC. 401(k) PROFIT SHARING
PLAN AND TRUST
Date: June 22, 2005 By: /s/ Rebecca B. Crunk
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Name: Rebecca B. Crunk
Title: Trustee