FVCBankcorp Q3 net income $4.7M, up 16% YoY; NIM expands 25bps to 2.64%

FVCBankcorp, Inc.

2024-Q3 EPS reported $0.55 revenue$1,185,000

Net income $4.7M ($0.25 diluted EPS) vs $4.0M ($0.22) in Q3 2023, up $630K.
Net interest margin improved to 2.64% from 2.39% YoY; up 5bps linked quarter to 2.59%.
Classified loans decreased 86% to $3.2M from prior quarter; nonaccrual loans at 0.16% of assets.
Bank well capitalized: total risk-based capital ratio 14.52% vs 13.83% at Dec 2023.
Nine-month 2024 net income $10.2M ($0.55) vs $8.9M ($0.49) YoY, up 14%.

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