FVCBankcorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 24, 2023 at 05:03 pm EDT
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FVCBankcorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 13.34 million compared to USD 17.53 million a year ago. Net income was USD 4.04 million compared to USD 7.04 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.4 a year ago. Diluted earnings per share from continuing operations was USD 0.22 compared to USD 0.38 a year ago.
For the nine months, net interest income was USD 41.74 million compared to USD 49.36 million a year ago. Net income was USD 8.89 million compared to USD 20.08 million a year ago. Basic earnings per share from continuing operations was USD 0.5 compared to USD 1.15 a year ago. Diluted earnings per share from continuing operations was USD 0.49 compared to USD 1.09 a year ago.
FVCBankcorp, Inc. is a holding company. The Company operates primarily through its subsidiary, FVCbank (the Bank), which is a community oriented, locally-owned and managed commercial bank. It emphasizes providing commercial banking services to small and medium-sized businesses, professionals, non-profit organizations and associations, and investors living and working in and near its service area. It offers retail banking services to accommodate the individual needs of both corporate customers as well as the communities it serves. The Company also offers online banking, mobile banking and a remote deposit service. The Company provides a variety of lending products to small and medium-sized businesses, including commercial real estate loans; commercial construction loans, and Small Business Administration (SBA) lending. Through third party networks, the Company offers its customers access to a full range of business insurance products and business and consumer credit card products.