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. (NASDAQ: FVCB) is the holding company for FVCbank, a Virginia-chartered community bank serving commercial businesses, nonprofit organizations, professional service entities, their owners and employees in the greater Baltimore and Washington, D.C. metropolitan areas. News about FVCB often centers on its financial performance, capital position, regional expansion, and shareholder-focused actions.
On this page, readers can follow earnings announcements and quarterly results, where the company reports net income, net interest margin, asset quality metrics, and capital ratios for FVCbank. These releases also discuss trends in loans, deposits, and the allowance for credit losses, providing insight into the bank’s credit profile and balance sheet composition.
FVCB news also covers dividend declarations and share repurchase program updates, reflecting decisions by the Board of Directors regarding capital return to shareholders. Additional coverage includes credit rating actions, such as the initial investment grade ratings assigned by Morningstar DBRS to FVCBankcorp, Inc. and FVCbank, and how those ratings relate to asset quality and capital levels.
Operational updates appear in the form of executive promotions and leadership changes at FVCbank, highlighting roles in commercial lending, services, finance, and credit. News may also describe the bank’s relationship with Atlantic Coast Mortgage, LLC (ACM), including the warehouse lending facility and ACM’s mortgage activities, as well as transactions involving ACM such as the acquisition of Tidewater Mortgage Services, Inc.
Investors, analysts, and community stakeholders can use this FVCB news feed to monitor developments in profitability, risk management, regional banking activities, and corporate actions over time.
FVCBankcorp, Inc. (Nasdaq – FVCB) has extended its share repurchase program originally started in 2020, now allowing repurchase of up to 1,080,860 shares, representing about 8% of outstanding shares as of December 31, 2020. This extension is set to expire on December 31, 2021. The program allows for flexibility in execution, enabling repurchases through open market purchases, block trades, or privately negotiated transactions, depending on market conditions. The repurchased shares will be canceled, reverting to authorized but unissued shares.
FVCBankcorp, Inc. (NASDAQ:FVCB) reported a strong fourth quarter 2020, achieving net income of $5.0 million, or $0.36 diluted EPS, up from $3.7 million, or $0.25 diluted EPS, in Q4 2019. Annual net income was $15.5 million, a slight decrease from $15.8 million in 2019. Net revenues increased to $14.9 million in Q4, up $2.5 million from the previous year. Key metrics included a 25% rise in core deposits to $1.48 billion and an improved efficiency ratio of 53.1%. The provision for loan losses rose to $500 thousand in Q4, influenced by COVID-19 uncertainties, but nonperforming loans decreased significantly.
FVCBankcorp, Inc. (NASDAQ:FVCB) reported Q3 2020 net income of $3.9 million, matching Q3 2019's $0.28 EPS, despite challenges from increased loan loss provisions of $3.3 million. Year-to-date, net income fell to $10.5 million from $12.1 million. However, net revenues rose to $14.4 million, up 12.5% year-over-year. Core deposits grew by 19.7% to $1.42 billion, with a net interest margin increase of 14 basis points to 3.30%. Additionally, nonperforming loans decreased to 0.45% of total assets. The company successfully completed a $20 million subordinated notes offering.
FVCBankcorp, Inc. (NASDAQ:FVCB) has successfully completed a private placement of $20 million in 4.875% Fixed to Floating Rate Subordinated Notes, maturing in 2030. The oversubscription of this offering indicates strong investor confidence. The capital raised will support corporate purposes, including bolstering capital ratios at FVCbank and potential repayment of existing subordinated debt. The fixed interest rate applies for the first five years, transitioning to a variable rate thereafter.
FVCBankcorp, Inc. (NASDAQ:FVCB) has been included in the prestigious Piper Sandler Sm-All Stars list, recognizing it as a top-performing small-cap financial institution. The selection process evaluated nearly 400 banks with a market cap below $2.5 billion, and FVCB excelled in growth, profitability, and credit quality metrics. This is the first time FVCB has made the list, joining only two other institutions from the Virginia and Maryland markets. FVCB's achievements in Earnings Per Share (EPS) growth, loan and deposit growth, and Return on Average Equity (ROAE) contributed to this accolade.