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FVCBankcorp, Inc. - FVCB STOCK NEWS

Welcome to our dedicated page for FVCBankcorp news (Ticker: FVCB), a resource for investors and traders seeking the latest updates and insights on FVCBankcorp stock.

FVCBankcorp, Inc., trading under the symbol FVCB, is a distinguished financial institution headquartered in Northern Virginia. Established in November 2007, the bank has carved out a niche in catering to the financial needs of the local business community, its owners, and employees. FVCBankcorp operates through its sole subsidiary, FVCbank, a community-oriented and locally-managed commercial bank.

Core Business: The bank specializes in providing a comprehensive range of commercial banking services to small and medium-sized businesses, professionals, non-profit organizations, and investors. Additionally, FVCBankcorp offers retail banking services designed to meet the unique needs of both corporate customers and the communities it serves. The bank's primary source of revenue stems from net interest income, derived from its lending and deposit operations.

Products and Services: FVCbank delivers a variety of financial products and services, including traditional banking products, online banking, mobile banking, remote deposit services, and a suite of lending products. The bank’s strategic focus is on helping clients achieve their financial dreams, whether it’s building a Fortune 500 company, planning for college, or preparing for retirement.

Technological Innovation: By leveraging state-of-the-art technology and attracting top-notch, experienced bankers, FVCbank provides high-touch banking experiences to its customers. This combination of advanced technology and skilled banking professionals ensures that FVCbank competes successfully with any other bank in the region.

Community Engagement: FVCbank is also committed to community development. Customers have the opportunity to be part of the bank's e-directory and benefit from additional marketing tools provided through the bank's e-newsletter, enhancing their business visibility.

Financial Health: FVCBankcorp maintains a strong financial position, supported by consistent income from its various banking operations. The bank's focus on community-oriented services and customer-centric products positions it as a reliable partner for financial growth and stability in Northern Virginia.

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FVCBankcorp, Inc. (NASDAQ: FVCB) announced its Q3 2024 financial results, reporting a 16% increase in net income year-over-year to $4.7 million, or $0.25 per diluted share. Return on average assets rose to 0.85%, a 21% increase from Q3 2023. The net interest margin improved by 25 basis points to 2.64%. Classified loans decreased by 86% to $3.2 million, reflecting solid credit quality.

For the nine months ended September 30, 2024, net income was $10.2 million, a 14% increase year-over-year. Total assets grew to $2.29 billion, a 5% increase from December 31, 2023. Loans receivable increased by 2.5% year-to-date. Total deposits rose by 6% to $1.96 billion. The Bank remains well-capitalized with a total risk-based capital ratio of 14.52%.

Management highlighted disciplined loan originations and deposit pricing as key factors for improved net interest income and margin. The Bank originated over $59 million in loans during Q3 2024.

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FVCBankcorp announced its Q2 2024 financial results, reflecting significant improvements across various metrics. Net income surged to $4.2 million, or $0.23 per share, a rise from $1.3 million in Q1 2024. Net interest income grew by $877K to $13.7 million, while net interest margin increased by 12 basis points to 2.59%. Core deposits increased by $121.5 million, and total deposits rose by $111.5 million, reaching $1.97 billion. Loans past due 30 days or more decreased by 35% to $2.5 million. The tangible common equity to tangible assets ratio rose to 9.56%. Over $41 million in new loans and $176 million in new non-maturity deposit accounts were originated. Despite a slight annual decline in total assets and investment securities, the company recorded an increase in shareholders’ equity by $9.4 million, and maintained a well-capitalized status with a total risk-based capital ratio of 14.13%.

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FVCBankcorp, Inc. reported its financial results for Q1 2024, showcasing an increase in net interest income and margin. Net interest margin rose to 2.47%, with net interest income up by $133k to $12.8 million. The company maintained strong credit quality with nonperforming loans decreasing by 33% year-over-year. Prudent balance sheet repositioning and surrendering of BOLI policies contributed to improved tax provisioning. The Bank's capital ratios exceeded well-capitalized thresholds. Net income for Q1 2024 was $1.3 million, with commercial bank operating earnings increasing by $948k. Total assets saw a slight decrease, while loans receivable and deposits increased. The Company's asset quality remained robust, with disciplined credit guidelines and proactive risk management strategies. The Company's minority investment in ACM showed progress, contributing to non-interest income. Net interest income improved, driven by higher interest income on loans, partially offset by increased funding costs. Noninterest income rebounded, and noninterest expenses decreased, resulting in a positive net income for Q1 2024.
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FVCBankcorp, Inc. (Nasdaq: FVCB) extends its share repurchase program, allowing for the buyback of up to 1,300,000 shares of common stock by March 31, 2025. The Company repurchased 115,750 shares in 2023. Repurchases may be made through various methods and are subject to market conditions and legal considerations.
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FVCBankcorp, Inc. (NASDAQ: FVCB) reported its financial results for the fourth quarter and full year of 2023. The company experienced a net loss of $5.1 million and $12.2 million in after-tax losses for the first quarter 2023 and fourth quarter 2023 securities sale. The company reduced future occupancy expense through a reduction in office space and staffing. However, it recorded a net loss of $5.1 million for the quarter ended December 31, 2023, compared to net income of $4.9 million for the quarter ended December 31, 2022.
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FVCBankcorp reports Q3 2023 financial results, showcasing stellar credit quality and continued core deposit growth. Net income for Q3 2023 was $4.0 million compared to $7.0 million in Q3 2022. Total assets decreased by $38.9 million, or 2%, from December 2022. Loans receivable increased by $9.1 million, or 0.5%. Total deposits increased by $165.8 million, or 9%, year-to-date.
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FVCbank recognized as one of the top performing banks in the US
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FAQ

What is the current stock price of FVCBankcorp (FVCB)?

The current stock price of FVCBankcorp (FVCB) is $13.91 as of November 8, 2024.

What is the market cap of FVCBankcorp (FVCB)?

The market cap of FVCBankcorp (FVCB) is approximately 251.4M.

What is FVCBankcorp, Inc.?

FVCBankcorp, Inc. is a financial institution headquartered in Northern Virginia, specializing in commercial and retail banking services.

When was FVCbank established?

FVCbank was established in November 2007.

What services does FVCbank offer?

FVCbank offers commercial banking services, retail banking services, online banking, mobile banking, remote deposit services, and lending products.

Who does FVCbank serve?

FVCbank serves small and medium-sized businesses, professionals, non-profit organizations, and the local community.

What is the primary source of revenue for FVCBankcorp?

The primary source of revenue for FVCBankcorp is net interest income from its lending and deposit operations.

How does FVCbank support community businesses?

FVCbank supports community businesses through its e-directory and e-newsletter, providing enhanced marketing tools and business visibility.

What makes FVCbank different from other banks?

FVCbank combines advanced technology with experienced bankers to provide high-touch banking services, focusing on both commercial and personal financial goals.

Does FVCbank offer online banking services?

Yes, FVCbank offers online banking, mobile banking, and remote deposit services.

Where is FVCbank primarily located?

FVCbank is primarily located in Northern Virginia.

How can I stay updated with FVCbank's latest news?

You can stay updated with FVCbank's latest news by subscribing to their e-newsletter or visiting financial news websites like StockTitan.

FVCBankcorp, Inc.

Nasdaq:FVCB

FVCB Rankings

FVCB Stock Data

251.40M
18.19M
14.72%
45.01%
0.46%
Banks - Regional
State Commercial Banks
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United States of America
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