FVCBankcorp, Inc. operates as the holding company for FVCbank that provides various banking products and services in Virginia. It offers deposit products, including interest and noninterest-bearing transaction accounts, checking and savings accounts, money market accounts, and certificates of deposit. The company also provides commercial real estate loans; commercial construction loans; commercial loans for various business purposes, such as for working capital, equipment purchases, lines of credit, and government contract financing; SBA loans; asset based loans and accounts receivable financing; home equity loans; and consumer loans. In addition, it offers business and consumer credit cards; merchant services; business insurance products; and online banking, remote deposit, and mobile banking services. The company serves the banking needs of commercial businesses, nonprofit organizations, professional service entities, and their respective owners and employees located in the greater Washington, D.C. and Baltimore metropolitan areas. FVCBankcorp, Inc. operates through a main office in Fairfax, Virginia. It also operates a network of 11 additional branch offices in Arlington, Virginia; Ashburn, Loudoun County, Virginia; the independent city of Manassas, Virginia; Reston, Fairfax County, Virginia; Springfield, Fairfax County, Virginia; and Montgomery County and Baltimore, Maryland, a loan production office in Lutherville, Maryland. FVCBankcorp, Inc. was founded in 2007 and is headquartered in Fairfax, Virginia.
IPO Year:
Exchange: NASDAQ
Website: fvcbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/5/2022 | $22.00 | Overweight | Piper Sandler |
| 7/7/2022 | $25.00 → $22.00 | Strong Buy → Outperform | Raymond James |
| 6/2/2022 | Buy → Neutral | Janney | |
| 2/1/2022 | $23.50 | Overweight | Piper Sandler |
| 1/24/2022 | $23.00 → $25.00 | Outperform → Strong Buy | Raymond James |
| 11/12/2021 | $21.00 → $23.00 | Outperform | Raymond James |
| 8/2/2021 | $19.00 → $21.00 | Outperform | Raymond James |
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
4 - FVCBankcorp, Inc. (0001675644) (Issuer)
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
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
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
FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported its financial results for the first quarter of 2023. First Quarter Selected Highlights Fortified and Well Capitalized Balance Sheet. FVCBank (the "Bank") has a resilient balance sheet with Tangible Common Equity ("TCE") to Total Assets ("TA") ratio of 8.92% at March 31, 2023. The Company's investment securities are classified as available-for-sale, and therefore, the decrease in market value of these securities is fully reflected in the TCE/TA ratio. All of the Company's regulatory capital components and ratios are well in excess of thresholds required to be considered "well capitalized" with total risk based capital to ris
FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported record annual 2022 net income of $25.0 million, or $1.35 diluted earnings per share, compared to $21.9 million, or $1.20 diluted earnings per share, for 2021, a year-over-year increase of $3.1 million, or 14%. Net income for the year ended December 31, 2022 includes the Company's portion of losses from its membership interest in Atlantic Coast Mortgage, LLC ("ACM"), which was $659 thousand, compared to income of $1.5 million for the year ended December 31, 2021. On December 15, 2022, the Company announced that the Board of Directors approved a five-for-four split of the Company's common stock in the form of a 25% stock dividend
FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") announced today that its Board of Directors approved a five-for-four split of the Company's common stock in the form of a 25 percent stock dividend for shareholders of record on January 9, 2023, payable on January 31, 2023. "We are delighted to show our appreciation to our shareholders through this stock dividend," stated David W. Pijor, Chairman and CEO of the Company. "The Board's decision to split the stock demonstrates confidence that we will continue to deliver solid results and generate significant value for our shareholders." Each shareholder of record, as of 5 p.m. Eastern Time on January 9, 2023, shall receive an additional one-quar
FVCbank (the "Bank") has acquired a membership interest in Atlantic Coast Mortgage, LLC ("ACM"). As a result of such investment, the Bank has obtained a 28.7% ownership interest in ACM. The transaction is effective today, August 31, 2021. The Bank provides a warehouse lending facility to ACM, including a construction-to-permanent financing line, and has developed portfolio mortgage products to diversify its current held for investment loan portfolio. ACM is a licensed mortgage lender headquartered in Fairfax, Virginia primarily engaged in the origination of 1-4 family residential mortgage loans and construction loans. ACM was founded in 2011 and is led by a team of seasoned mortgage profe
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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
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,
FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") today reported its financial results for the first quarter of 2024. First Quarter Selected Financial Highlights Increase 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,
FVCBankcorp, Inc. (NASDAQ:FVCB) (the "Company") announced today that its Board of Directors has extended its share repurchase program that was initiated in 2020. Under the repurchase program, the Company may repurchase up to 1,300,000 shares of its common stock, or approximately 7% of its outstanding shares of common stock at December 31, 2023. The repurchase program will expire on March 31, 2025, subject to earlier termination of the program by the Board of Directors. During 2023, the Company repurchased 115,750 shares of its common stock during open trading window periods. Repurchases may be made in open market purchases, block trades or in privately negotiated transactions. Repurchas
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
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
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
FVCbank, a leading commercial bank in the Washington DC metropolitan area, is proud to announce its recognition as one of the top performing banks in the United States. In the latest ranking released by the American Bankers Association, FVCbank was included in the list of the top 200 performing banks nationwide for banks with assets between $2B and $10B. The ranking is attributable to FVCbank's commitment to excellence and its unwavering dedication to serving its customers and communities. With a focus on providing effective banking solutions and exceptional customer service, FVCbank has continuously demonstrated its ability to thrive in a competitive market. "We are honored to be recog
Fairfax-based FVCbank has been honored by Keefe, Bruyette & Woods, Inc. (KBW) by being included in KBW's coveted 2023 Bank Honor Roll. KBW is a leading specialist investment bank in the financial and fintech sectors. One of 14 U.S. banks to make this year's KBW Bank Honor Roll, FVCbank is the only Washington, DC- or Baltimore-area bank to receive the 2023 distinction. For nearly 40 years, KBW has highlighted the top tier of well-managed banks. To make the exclusive annual list, banking institutions must demonstrate a consistently strong track record of earnings growth over the past decade. This year, 14 companies, just 4% of all banks screened, qualified for inclusion on the 2023 KBW Bank
Today, Fairfax-based FVCbank introduced the newest technology to make borrowing easy for business clients. By introducing the Lightning Lending program to its portfolio of technologically-efficient banking products, the commercial community bank continues its strategic commitment to transitioning from a traditional banking model to a more sophisticated fintech bank of the future, better serving the needs of its customers. "FVCbank is committed to pivoting in today's high-tech financial environment by embracing innovative systems. As a result, our customers will enjoy an easier, faster, and more user-friendly loan experience," said Chairman & CEO David Pijor. "Business owners can now compl
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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
Piper Sandler resumed coverage of FVCBankcorp with a rating of Overweight and set a new price target of $22.00
Raymond James downgraded FVCBankcorp from Strong Buy to Outperform and set a new price target of $22.00 from $25.00 previously
Janney downgraded FVCBankcorp from Buy to Neutral
Piper Sandler resumed coverage of FVCBankcorp with a rating of Overweight and set a new price target of $23.50
Raymond James upgraded FVCBankcorp from Outperform to Strong Buy and set a new price target of $25.00 from $23.00 previously
Raymond James reiterated coverage of FVCBankcorp with a rating of Outperform and set a new price target of $23.00 from $21.00 previously
Raymond James reiterated coverage of FVCBankcorp with a rating of Outperform and set a new price target of $21.00 from $19.00 previously
Piper Sandler upgraded FVCBankcorp from Neutral to Overweight and set a new price target of $19.00 from $15.00 previously
Raymond James upgraded FVCBankcorp from Mkt Perform to Outperform and set a new price target of $19.00
Raymond James upgraded FVCBankcorp from Market Perform to Outperform
FVCBankcorp (NASDAQ:FVCB) reported quarterly earnings of $0.20 per share which met the analyst consensus estimate. The company reported quarterly sales of $12.792 million which missed the analyst consensus estimate of $13.315 million by 3.93 percent. This is a 8.72 percent decrease over sales of $14.014 million the same period last year.
President Joe Biden issued a new executive order on artificial intelligence on Monday, making it the first of a kind to require new safety assessments, equity and civil rights guidance, and research on AI’s impact on the labor market. The order is divided into eight sections, which include creating new safety and security standards for AI, protecting consumer privacy, and many others. The announcement comes as financial firms and banks have started to adopt AI-based systems to not only make day-to-day activities easier for staffers, but also make better informed, safer, and profitable loan and credit decisions. However, generative AI also faces some challenges in the financial space, mainly
FVCBankcorp (NASDAQ:FVCB) reported quarterly earnings of $0.22 per share which missed the analyst consensus estimate of $0.24 by 8.33 percent. This is a 42.11 percent decrease over earnings of $0.38 per share from the same period last year. The company reported quarterly sales of $13.34 million which missed the analyst consensus estimate of $14.72 million by 9.41 percent. This is a 23.91 percent decrease over sales of $17.53 million the same period last year.
Piper Sandler analyst Casey Orr Whitman maintains FVCBankcorp (NASDAQ:FVCB) with a Overweight and raises the price target from $11 to $14.
FVCBankcorp (NASDAQ:FVCB) reported quarterly earnings of $0.34 per share which beat the analyst consensus estimate of $0.22 by 54.55 percent. This is unchanged from the same period last year. The company reported quarterly sales of $14.39 million which beat the analyst consensus estimate of $14.15 million by 1.68 percent. This is a 14.29 percent decrease over sales of $16.79 million the same period last year.
During Wednesday's session, 117 stocks hit new 52-week lows. Interesting Highlights From Today's 52-Week Lows: PayPal Holdings (NASDAQ:PYPL) was the largest company by market cap to set a new 52-week low. The smallest company by market cap to set a new 52-week low was Assure Hldgs (NASDAQ:IONM). Babylon Holdings (NYSE:BBLN) shares traded down 65.98% to reach its 52-week low, making it the biggest loser. Washington Trust Bancorp (NASDAQ:WASH) saw the sharpest rebound, as shares ascended 0.0%, reversing after hiting a new 52-week low. The stocks that set new 52-week lows on Wednesday: PayPal Holdings (NASDAQ:PYPL) stock drifted down 2.61% on Wednesday morning to hit a new 52-wee
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On Monday, 61 companies hit new 52-week lows. Areas of Significance In Today's 52-Week Lows: The largest company in terms of market cap to set a new 52-week low was Tyson Foods (NYSE:TSN). TC BioPharm (Holdings) (NASDAQ:TCBP) was the smallest company when considering market cap to set a new 52-week low. Catalent (NYSE:CTLT) was the biggest loser of the morning session, as it dropped 26.7% to reach its new 52-week low. Aurora Mobile (NASDAQ:JG) shares bounced back the most, actually rising 0.12% after hiting a new 52-week low. The following stocks set new 52-week lows on Monday: Tyson Foods (NYSE:TSN) stock achieved a new 52-week low on Monday morning, hitting $50.80 and moving
On Thursday, 498 companies reached new 52-week lows. Things to Consider About Today's 52-Week Lows: Pfizer (NYSE:PFE) was the biggest company in terms of market cap to set a new 52-week low. The smallest company by market cap to set a new 52-week low was NovaBay Pharmaceuticals (AMEX:NBY). Mullen Automotive (NASDAQ:MULN)'s stock traded down the lowest, falling 2028.33% to reach a new 52-week low. Innoviz Technologies (NASDAQ:INVZ) shares were the most resilient, as shares rose 0.0%, rebounding from its new 52-week low. The following stocks created new 52-week lows on Thursday: Pfizer (NYSE:PFE) stock drifted down 0.18% on Thursday morning to hit a new 52-week low of $38.02. C