secwatch.observer — SEC 8-K summary
======================================

Issuer:     FVCBankcorp, Inc. (FVCB)
CIK:        0001675644
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0001675644-24-000065
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675644/000167564424000065/0001675644-24-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675644/000167564424000065/fvcb-20240423.htm
  HTML page:      https://secwatch.observer/filing/0001675644-24-000065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer