FVCBankcorp, Inc. Announces First Quarter 2024 Earnings; Net Interest Income and Margin Improvement
FVCBankcorp, Inc. (FVCB)
NASDAQ:AMEX Investor Relations:
snl.com/irw/corporateprofile/4624250
Company Research
Source: Business Wire
FAIRFAX, Va.--(BUSINESS WIRE)--FVCBankcorp, Inc. (NASDAQ: FVCB) (the “Company”) today reported its financial results for the first quarter of 2024.First Quarter Selected Financial HighlightsIncrease in Net Interest Income and Margin. Net interest margin increased 10 basis points, or 4%, to 2.47% for the first quarter of 2024, compared to 2.37% for the fourth quarter of 2023. Net interest income increased $133 thousand to $12.8 million, or 1%, compared to $12.7 million for the fourth quarter of 2023. Interest income increased $176 thousand quarter-over-quarter while interest expense only increased $43 thousand for the same period.Strong Credit Quality. Nonperforming loans totaled $3.0 million at March 31, 2024, or 0.14% of total assets, a decrease of $1.5 million, or 33%, from the year ago quarter ended March 31, 2023. Compared to December 31, 2023, nonperforming loans increased $1.2 million at March 31, 2024. The Company recorded net recoveries of $30 thousand during the first qua
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FVCB
Earnings
- 4/23/24 - Beat
FVCB
Sec Filings
- 4/24/24 - Form 4
- 4/23/24 - Form 8-K
- 4/19/24 - Form 4
- FVCB's page on the SEC website