FVCBankcorp Q2 2024 net income $4.2M, up from $1.3M Q1; margin and deposits improve

FVCBankcorp, Inc.

2024-Q2 EPS reported $0.30 revenue$773,000

Net income of $4.2M ($0.23 diluted EPS) in Q2 2024, up from $1.3M in linked Q1 2024.
Net interest margin expanded 12 bps to 2.59%; net interest income rose $877K to $13.7M.
Core deposits grew $121.5M (8%) in Q2; total deposits reached $1.97B, up 6% from Q1.
Past-due loans fell 35% to $2.5M; net recoveries of $5K recorded in the quarter.
Regulatory capital ratios remain well above well-capitalized thresholds; TCE/TA improved to 9.56%.

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