$FVCB

FVCBankcorp, Inc.

CIK:0001675644|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and Dividend Income
Interest and fees on loans	$ 29,475	$ 27,029	$ 57,864	$ 53,582
Interest and dividends on securities held-to-maturity	2	3	3	6
Interest and dividends on securities available-for-sale	848	914	1,713	1,828
Dividends on restricted stock	88	120	179	244
Interest on deposits at other financial institutions	668	1,364	1,143	2,327
Total interest and dividend income	31,081	29,430	60,902	57,987
Interest Expense
Interest on deposits	11,360	12,958	23,064	25,750
Interest on short-term debt	96	468	243	936
Interest on long-term debt	476	245	1,042	490
Total interest expense	11,932	13,671	24,349	27,176
Net Interest Income	19,149	15,759	36,553	30,811
Provision for credit losses	241	105	409	305
Net interest income after provision for credit losses	18,908	15,654	36,144	30,506
Noninterest Income
Total noninterest income	2,152	1,008	3,035	1,679
Service charges on deposit accounts	426	282	789	552
Gain on sale of minority interest			847	0
Bank owned life insurance income	74	71	147	141
Income from minority membership interests	600	351	840	492
Gain on termination of derivative instruments	0	154	0	154
Other income	205	150	412	340
Noninterest Expenses
Salaries and employee benefits	5,928	5,036	11,369	9,818
Occupancy and equipment expense	510	539	1,047	1,067
Data processing and network administration	696	550	1,315	1,169
Internet banking and software expense	884	864	1,768	1,689
State franchise taxes	577	583	1,145	1,178
FDIC insurance	190	290	520	620
Marketing, business development and advertising	302	249	458	418
Loan Processing Fee (Income)	257	204	501	483
Directors Fees	165	150	330	300
Core deposit intangible amortization	22	32	47	67
Other operating expenses	1,058	931	1,961	1,752
Total noninterest expenses	10,589	9,428	20,461	18,561
Net income	8,223	5,667	14,608	10,832
Net income before income tax expense	10,471	7,234	18,718	13,624
Income tax expense	$ 2,248	$ 1,567	$ 4,110	$ 2,792
Earnings per share, basic	$ 0.46	$ 0.31	$ 0.81	$ 0.59
Earnings per share, diluted	$ 0.45	$ 0.31	$ 0.81	$ 0.59
Total noninterest income	$ 2,152	$ 1,008	$ 3,035	$ 1,679
Service charges on deposit accounts	426	282	789	552
Gain on sale of minority interest			847	0
Bank owned life insurance income	74	71	147	141
Income from minority membership interests	600	351	840	492
Gain on termination of derivative instruments	0	154	0	154
Other income	$ 205	$ 150	412	340
Gain on sale of minority interest			$ 847	$ 0

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net income	$ 14,608	$ 10,832
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	84	114
Provision for credit losses	409	305
Net amortization of premium of securities	82	96
Net accretion of deferred loan costs, fees, and other acquisition accounting adjustments	(868)	(410)
Gain (loss) on derivative termination	0	154
Gain on sale of minority membership interest	847	0
Income from minority membership interests	(840)	(492)
Amortization of debt issuance costs	250	27
Core deposit intangible amortization	47	67
Equity-based compensation expense	554	433
Bank owned life insurance income	(147)	(141)
Changes in assets and liabilities:
Increase in accrued interest receivable, prepaid expenses and other assets	2,124	468
Increase (decrease) in accrued interest payable, accrued expenses and other liabilities	(1,102)	(2,441)
Net Cash Provided by (Used in) Operating Activities, Total	16,558	8,704
Cash Flows From Investing Activities
Decrease in interest-bearing deposits at other financial institutions	(116,799)	(37,716)
Payments to Acquire Debt Securities, Available-for-Sale	0	1,995
Proceeds from repayments, calls and maturities of securities available-for-sale	6,121	7,496
Net (purchase) redemption of restricted stock	(18)	412
Net decrease in loans	42,767	1,177
Purchases of premises and equipment, net	(26)	(29)
Proceeds from sale of minority interest	1,296	0
Net cash used in investing activities	(66,659)	(30,655)
Cash Flows From Financing Activities
Net increase in non-maturing deposits	62,467	17,221
Net (decrease) increase in time deposits	(8,016)	15,647
Issuance and Redemption of subordinated debt, net	(19,000)	0
Proceeds from Issuance of Senior Long-Term Debt	24,481	0
Payment, Tax Withholding, Share-Based Payment Arrangement	(46)	(53)
Repurchases of common stock	(2,077)	(4,635)
Payments of Ordinary Dividends, Common Stock	(2,344)	0
Common stock issuance	1,192	236
Net cash provided by financing activities	56,657	28,416
Cash and cash equivalents, beginning of year	5,684	8,161
Net increase in cash and cash equivalents	6,556	6,465
Cash and cash equivalents, end of period	12,240	14,626
Gain on sale of minority membership interest	$ 847	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 12,240	$ 5,684
Interest-bearing deposits at other financial institutions	238,746	121,947
Securities held-to-maturity (fair value of $263 thousand and $262 thousand at June 30, 2026 and December 31, 2025, respectively), net of allowance for credit losses of $0 and $0 at June 30, 2026 and December 31, 2025, respectively	265	265
Securities available-for-sale, at fair value	146,934	153,159
Restricted stock, at cost	5,465	5,446
Loans, net of allowance for credit losses of $19.2 million and $18.9 million at June 30, 2026 and December 31, 2025, respectively	1,880,231	1,922,397
Premises and equipment, net	635	693
Accrued interest receivable	10,188	10,277
Prepaid expenses	4,456	3,311
Deferred tax assets, net	12,289	12,251
Goodwill and intangibles, net	7,247	7,295
Bank owned life insurance	9,655	9,508
Operating lease right-of-use assets	5,324	6,062
Other assets	33,519	33,961
Total assets	2,367,194	2,292,256
Deposits:
Noninterest-bearing	415,286	363,228
Interest-bearing checking	705,016	741,034
Deposits, Savings Deposits	377,475	331,048
Time deposits	312,763	277,010
Deposits, Wholesale	241,188	284,957
Total deposits	2,051,728	1,997,277
Long-term debt, net of issuance costs	24,481	18,750
Accrued interest payable	2,632	2,076
Operating lease liabilities	5,679	6,486
Reserves for unfunded commitments	615	471
Accrued expenses and other liabilities	15,483	13,596
Total liabilities	2,100,618	2,038,656
Shareholders' Equity
Preferred stock, $0.01 par value	0	0
Common stock, $0.01 par value	180	179
Additional paid-in capital	121,764	122,144
Retained earnings	163,121	150,857
Accumulated other comprehensive (loss), net	(18,489)	(19,580)
Total shareholders' equity	266,576	253,600
Total liabilities and shareholders' equity	2,367,194	2,292,256
Debt Securities, Held-to-Maturity, Fair Value	$ 263	$ 262