FVCBankcorp Q1 net income $621K vs $6.6M YoY; commercial bank operating EPS $0.26

FVCBankcorp, Inc.

2023-Q1 EPS reported $0.03 revenue$356,000

Net income $621K ($0.03 diluted), down from $6.6M ($0.36) in Q1 2022.
Includes $3.6M after-tax loss from sale of $40.3M investment securities as part of balance sheet repositioning.
Commercial bank operating earnings (non-GAAP) $4.8M, or $0.26 diluted per share, vs $5.5M ($0.30) in Q4 2022.
Total deposits grew $80.2M to $1.91B; uninsured deposits improved to 32.5% from 39.7%.
ACL to loans (ex-warehouse lines) 1.11%; nonperforming loans to assets stable at 0.19%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FVCBankcorp, Inc. reported the first quarter of 2023 results: net income $621 thousand, EPS $0.03.

Period: the first quarter of 2023
Net income: $621 thousand
EPS: $0.03
Result: reported results

Exact text from the filing

Net income for the first quarter of 2023 was $621 thousand, or $0.03 diluted earnings per share

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FVCBankcorp, Inc. filing history →

Source: SEC EDGAR

accession 0001675644-23-000055

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