secwatch.observer — SEC 8-K summary
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Issuer:     FVCBankcorp, Inc. (FVCB)
CIK:        0001675644
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001675644-23-000055
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675644/000167564423000055/0001675644-23-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675644/000167564423000055/fvcb-20230420.htm
  HTML page:      https://secwatch.observer/filing/0001675644-23-000055

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