FVCBankcorp reports Q2 2022 net income $6.4M, up 24% YoY; record 10% quarterly loan growth

FVCBankcorp, Inc.

2022-Q2 EPS reported $0.88 revenue$735,000

Net income $6.4M ($0.43 diluted EPS) vs $5.2M ($0.36) in Q2 2021, up 24%.
Loans receivable net of deferred fees $1.66B, up 10% quarterly ($151.8M increase) – record growth.
Net interest margin expanded 23 bps to 3.30% from 3.07% a year ago.
Nonperforming assets were 0.15% of total assets ($3.5M), down from 0.16% at Dec 2021.
Efficiency ratio improved to 47.1% from 55.3% in prior-year quarter.

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