SEC Form SC 13G/A filed by FVCBankcorp Inc. (Amendment)

$FVCB
Major Banks
Finance
Get the next $FVCB alert in real time by email
SC 13G/A 1 eps11128_fvcb.htm
 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1 ) *

 

FVCBankcorp, Inc. (FVCB)
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)
 
36120Q 10 1
(CUSIP Number)
 
12/31/2023
(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

  Rule 13d-1(b)
     
  Rule 13d-1(c)
     
  Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 
 
 

 

CUSIP No.  36120Q 10 1   Page 2 of 8

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
(ENTITIES ONLY) 

FJ Capital Management LLC

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 1,283,807 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 1,283,807 (1)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,283,807 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

7.21%

 

12

 

TYPE OF REPORTING PERSON

 

IA
         

 

(1)Consists of 1,283,807 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

 

 

 


CUSIP No.
 36120Q 10 1   Page 3 of 8

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
(ENTITIES ONLY) 

Financial Opportunity Fund LLC

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 1,283,807 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 1,283,807 (1)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,283,807 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

7.21%

 

12

 

TYPE OF REPORTING PERSON

 

OO
         

 

(1)Consists of 1,283,807 shares of common stock of the Issuer held by Financial Opportunity Fund LLC.

 

 

 


CUSIP No.
 36120Q 10 1   Page 4 of 8

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
(ENTITIES ONLY) 

Martin Friedman

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 1,283,807 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 1,283,807 (1)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,283,807 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

7.21%

 

12

 

TYPE OF REPORTING PERSON

 

IN
         

 

(1)Consists of 1,283,807 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.

 

 

 


CUSIP No.
 36120Q 10 1   Page 5 of 8

 

Item 1(a).   Name of Issuer:
     
    FVCBankcorp, Inc.
     
Item 1(b).   Address of Issuer’s Principal Executive Offices:
     
    11325 Random Hills Road, Suite 240
    Fairfax, VA  22030
     
Item 2(a).   Name of Person Filing:
     
   

This Schedule 13G is being filed on behalf of the following Reporting Persons:

Financial Opportunity Fund LLC

FJ Capital Management LLC

Martin Friedman

     
Item 2(b).   Address of Principal Business Office or, if None, Residence:
     
   

FJ Capital Management, LLC

7901 Jones Branch Drive, Suite 210

McLean, VA 22102

 

Financial Opportunity Fund LLC

7901 Jones Branch Drive, Suite 210

McLean, VA 22102

 

Martin Friedman

7901 Jones Branch Drive, Suite 210

McLean, VA 22102

     
Item 2(c).   Citizenship:
     
   

Financial Opportunity Fund LLC, and FJ Capital Management LLC – Delaware limited liability companies

Martin Friedman – United States citizen

     
Item 2(d).   Title of Class of Securities:
     
    Common Stock
     
Item 2(e).   CUSIP Number:
     
     36120Q 10 1
     

 

 

 


CUSIP No.
 36120Q 10 1   Page 6 of 8

 

Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a:

 

  (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
       
  (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
       
  (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
       
  (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
       
  (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
       
  (f)

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

 

  (g) A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G);
       
  (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
       
  (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3);
       
  (j) Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

Item 4. Ownership.
   
  Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

  (a) Amount beneficially owned:
     
   

FJ Capital Management LLC – 1,283,807 shares

Financial Opportunity Fund LLC – 1,283,807 shares

Martin Friedman – 1,283,807 shares

     
  (b) Percent of class:
     
   

FJ Capital Management LLC – 7.21%

Financial Opportunity Fund LLC – 7.21%

Martin Friedman – 7.21%

     
  (c) Number of shares as to which such person has:
     
    (i) Sole power to vote or to direct the vote
       
      All Reporting Persons - 0
       

 

 

 

CUSIP No. 36120Q 10 1   Page 7 of 8

 

    (ii) Shared power to vote or to direct the vote
       
     

FJ Capital Management LLC – 1,283,807 shares

Financial Opportunity Fund LLC – 1,283,807 shares

Martin Friedman – 1,283,807 shares

       
    (iii) Sole power to dispose or to direct the disposition of
       
      All Reporting Persons - 0
       
    (iv) Shared power to dispose or to direct the disposition of
       
     

FJ Capital Management LLC – 1,283,807 shares

Financial Opportunity Fund LLC – 1,283,807 shares

Martin Friedman – 1,283,807 shares

 

Item 5. Ownership of Five Percent or Less of a Class.
  If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following
   
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
   
  N/A.
   
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
   
  N/A
   
Item 8. Identification and Classification of Members of the Group.
   
  Due to the relationships among them, the reporting persons hereunder may be deemed to constitute a “group” with one another for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934.  
   
Item 9. Notice of Dissolution of Group.
   
  N/A
   
Item 10. Certification.
   
         

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.

 

 

 

CUSIP No.  36120Q 10 1   Page 8 of 8

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.

 

 

 

     
Date: 1/09/2024  

Financial Opportunity Fund LLC

By: FJ Capital Management LLC, its Managing Member

 

 

By:     /s/ Martin Friedman           

Name: Martin Friedman

Title: Managing Member

 

 

 

FJ Capital Management LLC

 

 

By:     /s/ Martin Friedman           

Name: Martin Friedman

Title: Managing Member

 

 

 

/s/ Martin Friedman           

MARTIN FRIEDMAN

 

     

 

 

 

Get the next $FVCB alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$FVCB

DatePrice TargetRatingAnalyst
12/5/2022$22.00Overweight
Piper Sandler
7/7/2022$25.00 → $22.00Strong Buy → Outperform
Raymond James
6/2/2022Buy → Neutral
Janney
2/1/2022$23.50Overweight
Piper Sandler
1/24/2022$23.00 → $25.00Outperform → Strong Buy
Raymond James
11/12/2021$21.00 → $23.00Outperform
Raymond James
8/2/2021$19.00 → $21.00Outperform
Raymond James
More analyst ratings

$FVCB
Press Releases

Fastest customizable press release news feed in the world

See more
  • FVCBankcorp, Inc. Announces Fourth Quarter and Full Year 2024 Earnings

    Continued Growth in Profitability, Net Interest Income and Margin FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported its financial results for the fourth quarter and full year of 2024. Fourth Quarter Selected Financial Highlights Net Income Increased 5% Compared to the Prior Quarter. Net income totaled $4.9 million, or $0.26 diluted earnings per share, for the quarter ended December 31, 2024, compared to net income of $4.7 million, or $0.25 diluted earnings per share, for the quarter ended September 30, 2024. Return on average assets for the quarter ended December 31, 2024 was 0.90%, an increase from 0.85% for the quarter ended September 30, 2024. Net Interest Margin I

    $FVCB
    Major Banks
    Finance
  • FVCBankcorp, Inc. Announces Third Quarter 2024 Earnings; Quarterly Net Income Increased 16% Year-Over-Year as Net Interest Income and Margin Continue to Improve

    FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported its financial results for the third quarter of 2024. Third Quarter Selected Financial Highlights Enhanced Profitability. Return on average assets for the quarter ended September 30, 2024 was 0.85%, an increase of 21%, from 0.70% for the quarter ended September 30, 2023, and increased 10%, from 0.77%, for the linked quarter ended June 30, 2024. Increased Net Income. Net income increased compared to the year ago quarter and prior quarter. Net income totaled $4.7 million, or $0.25 diluted earnings per share, for the quarter ended September 30, 2024, compared to net income of $4.0 million, or $0.22 diluted earnings per share, f

    $FVCB
    Major Banks
    Finance
  • FVCBankcorp, Inc. Announces Second Quarter 2024 Earnings; Continued Improvement in Net Income, Net Interest Income, and Margin

    FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported its financial results for the second quarter of 2024. Second Quarter Selected Financial Highlights Increase in Net Income. For the three months ended June 30, 2024, the Company recorded net income of $4.2 million, or $0.23 diluted earnings per share. Compared to the linked quarter, net income increased $2.8 million, from $1.3 million for the three months ended March 31, 2024. Increase in Net Interest Income and Margin. Net interest margin increased 12 basis points, or 5%, to 2.59% for the second quarter of 2024, compared to 2.47% for the first quarter of 2024. Net interest income increased $877 thousand to $13.7 million,

    $FVCB
    Major Banks
    Finance

$FVCB
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$FVCB
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$FVCB
SEC Filings

See more

$FVCB
Leadership Updates

Live Leadership Updates

See more
  • FVCBankcorp, Inc. Appoints Marc N. Duber to Board of Directors

    FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today announced the appointment of Marc N. Duber to the Company's board of directors on September 30, 2022, effective immediately. He has also been appointed as a director of the Company's wholly-owned subsidiary, FVCbank. Mr. Duber possesses a wealth of knowledge, with over four decades of experience in the real estate development industry, providing the ability to support the Company's vision and lend valuable contribution to the Board. He is the executive vice president and chief operating officer of The Bernstein Companies, one of the oldest commercial real estate firms in Washington, D.C., where he began his career in 1980. Mr. Duber foc

    $FVCB
    Major Banks
    Finance

$FVCB
Financials

Live finance-specific insights

See more
  • FVCBankcorp, Inc. Announces 2023 Earnings

    FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported its financial results for the fourth quarter and full year of 2023. Fourth Quarter Selected Financial Highlights Strong Credit Quality. Nonperforming loans totaled $1.8 million at December 31, 2023, or 0.08% of total assets, a decrease of $2.7 million, or 59%, from the prior year ended December 31, 2022. Net charge-offs of $49 thousand were recorded during the fourth quarter of 2023, or 0.01% of average total loans. Prudent Balance Sheet Repositioning. During the fourth quarter of 2023, the Company sold a portion of its investment portfolio totaling $61.4 million of book value available-for-sale securities with a weighte

    $FVCB
    Major Banks
    Finance
  • FVCBankcorp, Inc. Announces Third Quarter 2023 Earnings

    FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported its financial results for the third quarter of 2023. Third Quarter Selected Financial Highlights Stellar Credit Quality. Nonperforming loans totaled $1.5 million at September 30, 2023, or 0.07% of total assets, and were comprised solely of residential mortgage loans. Net recoveries of $7 thousand were recorded during the third quarter of 2023. Loans on the Company's watchlist decreased to $3.0 million during the quarter ended September 30, 2023, a decrease of 70% from the prior quarter end and 79% from December 31, 2022. Continued Core Deposit Growth and Reduced Reliance on Wholesale Funds. Wholesale funds at September 3

    $FVCB
    Major Banks
    Finance
  • FVCBankcorp, Inc. Announces Second Quarter 2023 Earnings; Strong Deposit and Liquidity Growth

    FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported its financial results for the second quarter of 2023. Second Quarter Selected Financial Highlights Strong Well Capitalized Balance Sheet. All of the Bank's regulatory capital components and ratios are well in excess of thresholds required to be considered "well capitalized" with total risk based capital to risk-weighted assets of 13.28% at June 30, 2023. Tangible Common Equity ("TCE") to Total Assets ("TA") ratio for FVCbank (the "Bank") increased to 9.22% at June 30, 2023, from 8.92% at March 31, 2023. The Bank's investment securities are classified as available-for-sale, and therefore, the decrease in market value of thes

    $FVCB
    Major Banks
    Finance

$FVCB
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more