FVCBankcorp Q1 2024 net income $1.3M; NIM expands 10 bps to 2.47%

FVCBankcorp, Inc.

2024-Q1 EPS reported $0.07 revenue$359,000

GAAP net income $1.3M ($0.07 diluted EPS) vs $621K ($0.03) a year ago.
Net interest margin improved 10 bps to 2.47% from 2.37% in Q4 2023.
Surrendered $48M of BOLI; $2.4M nonrecurring tax provision; proceeds cut high-cost funding.
Non-GAAP operating EPS $0.20 vs $0.15 in Q4 2023.
Nonperforming loans $3.0M (0.14% of assets), down $1.5M YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FVCBankcorp, Inc. reported first quarter of 2024 results: net income $1.3 million, EPS $0.07 diluted earnings per share.

Period: first quarter of 2024
Net income: $1.3 million
EPS: $0.07 diluted earnings per share
Result: reported results

Exact text from the filing

On April 23, 2024, FVCBankcorp, Inc. (the “Company”) issued a press release reporting its financial results for the period ended March 31, 2024.

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FVCBankcorp, Inc. filing history →

Source: SEC EDGAR

accession 0001675644-24-000065

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