Press Releases Archives | FVCbank

FVCbank Expands into Hampton Roads with New Virginia Beach Loan Production Office

FVCbank — Mon, 27 Apr 2026 17:06:49 +0000

Terri Ruby Joins as SVP/Regional President to Lead Market Growth

For Immediate Release – April 27,2026

Fairfax, VA – [April 27, 2026] – FVCbank (NASDAQ: FVCB), a leading commercial bank in the Washington, D.C. metropolitan area, is pleased to announce the opening of a Loan Production Office in Virginia Beach. Terri Ruby has joined FVCbank as Senior Vice President/Regional President- Hampton Roads. Terri worked in Hampton Roads for her entire banking career and brings extensive experience in market expansion, business development, and treasury services. Terri’s background includes leadership roles at New Horizon Bank, Blue Ridge Bank, Virginia Community Bank, Monarch Bank, and Fulton Bank, where she consistently drove growth and profitability. She will be instrumental in leading our Hampton Roads efforts. Terri has forged longstanding relationships with many individuals and businesses with a stellar reputation of providing personalized service and banking expertise. Terri is joined by Kathy Mitchell, Assistant Vice President, Loan Administrator II and Aisha Horton, Business Development Support Specialist.

David W. Pijor, Esq., Chairman and Chief Executive Officer of the Company, said “We’re welcoming three exceptional individuals as we enter a vibrant and growing market in Hampton Roads market area provides an opportunity to support local businesses and to offer our expertise in our most prominent products and services as we support our new team.”

Patricia A. Ferrick, President of the Company said, “We’re thrilled to announce the expansion of our FVCbank team in Hampton Roads. The addition of Terri Ruby, Kathy Mitchell and Aisha Horton undoubtedly strengthen our commitment to providing outstanding service and fostering strong relationships in the Hampton Roads market.”

About FVCbank:

FVCbank is a Virginia-chartered community bank serving the banking needs of commercial businesses, nonprofit organizations, and professional services firms throughout the Baltimore/Washington, D.C. metropolitan areas. With a commitment to personalized service and innovative banking solutions, FVCbank delivers financial strength and stability to its clients. The bank is publicly traded on the NASDAQ Capital Market under the symbol FVCB.
To learn more about our Bank, please visit https://www.fvcbank.com.

The post FVCbank Expands into Hampton Roads with New Virginia Beach Loan Production Office appeared first on FVCbank.

Jennifer Deacon and Michael G. Nassy Promoted to Senior Executive Roles

FVCbank — Wed, 18 Jun 2025 18:46:17 +0000

FVCbank Announces Promotions of Jennifer Deacon and Michael G. Nassy to Senior Executive Roles

For Immediate Release – June 18,2025

Fairfax, VA – [May 5, 2025] – FVCbank (NASDAQ: FVCB), a leading commercial bank in the Washington, D.C. metropolitan area, is pleased to announce the promotion of two key members of its executive leadership team. Jennifer Deacon, currently Executive Vice President and Chief Financial Officer, and Michael G. Nassy, currently Executive Vice President and Chief Credit Officer, have been elevated to Senior Executive Vice President roles, recognizing their outstanding contributions and leadership.

Jennifer Deacon has been instrumental in overseeing the bank’s extensive finance and accounting practices including treasury management and financial reporting. With extensive experience in banking and finance, Deacon’s leadership has strengthened the bank’s financial position and enhanced its operational efficiencies.

Michael G. Nassy has led the bank’s credit and risk management efforts, ensuring sound lending practices and supporting FVCbank’s commitment to responsible growth. His expertise in credit risk assessment and portfolio management has been vital to the bank’s success in serving the diverse financial needs of businesses and individuals in the region.

“We are thrilled to promote Jennifer and Michael to Senior Executive Vice President roles,” said Patricia A. Ferrick, President of FVCbank. “Their leadership, expertise, and dedication have been instrumental in driving our strategic objectives and delivering exceptional service to our customers. These promotions reflect their invaluable contributions and our commitment to recognizing and fostering talent within our organization.”

As Senior Executive Vice Presidents, Deacon and Nassy will continue to play critical roles in shaping the bank’s strategic vision and growth initiatives, ensuring FVCbank remains a trusted financial partner for businesses and communities throughout the region.

For more information about FVCbank and its leadership team, please visit https://www.fvcbank.com.

About FVCbank:

FVCbank is a Virginia-chartered community bank serving the banking needs of commercial businesses, nonprofit organizations, and professional services firms throughout the Baltimore /Washington, D.C. metropolitan areas. With a commitment to personalized service and innovative banking solutions, FVCbank delivers financial strength and stability to its clients. The bank is publicly traded on the NASDAQ Capital Market under the symbol FVCB.

The post Jennifer Deacon and Michael G. Nassy Promoted to Senior Executive Roles appeared first on FVCbank.

FVCBankcorp, Inc. Announces First Quarter 2025 Earnings

FVCbank — Tue, 22 Apr 2025 19:32:38 +0000

FVCBank Announces First Quarter 2025 Earnings; Fifth Consecutive Quarter of Improved Profitability and Margin

FAIRFAX, Va.–(BUSINESS WIRE)– FVCBankcorp, Inc. (NASDAQ: FVCB) (the “Company”) today reported its financial results for the first quarter of 2025.

First Quarter Selected Financial Highlights

Net Income Increased 5% Compared to the Prior Quarter. Net income totaled $5.2 million, or $0.28 diluted earnings per share, for the quarter ended March 31, 2025, compared to net income of $4.9 million, or $0.26 diluted earnings per share, for the quarter ended December 31, 2024. Return on average assets for the quarter ended March 31, 2025 was 0.94%, an increase from 0.90% for the quarter ended December 31, 2024.
Net Interest Margin Up 15% and Net Interest Income Improved 18%, Compared to the Year Ago Quarter.For the quarter ended March 31, 2025, net interest margin improved 6 basis points to 2.83% from 2.77% for the three months ended December 31, 2024, the fifth consecutive quarter of margin improvement, and increased 36 basis points, or 15%, compared to 2.47% for the first quarter of 2024. Net interest income increased $2.3 million, or 18%, to $15.1 million for the first quarter of 2025, compared to $12.8 million for the year ago quarter ended March 31, 2024.
Strong Credit Quality. Loans past due 30 days or more totaled $1.3 million at March 31, 2025, a decrease of $7.2 million, or 84%, from $8.4 million at December 31, 2024. Past due loans at March 31, 2025 were primarily consumer real estate secured. Nonperforming loans at March 31, 2025 decreased to $10.7 million, or 16%, from $12.8 million at December 31, 2024. Nonperforming loans to total assets decreased to 0.48% at March 31, 2025 from 0.58% at December 31, 2024. The Company recorded net recoveries of $139 thousand, or 0.03% to average loans, for the quarter ended March 31, 2025.
Sound, Well Capitalized Balance Sheet.All of FVCbank’s (the “Bank”) regulatory capital components and ratios were in excess of thresholds required to be considered “well capitalized”, with total risk-based capital to risk-weighted assets of 15.07% at March 31, 2025, compared to 14.73% at December 31, 2024. The tangible common equity (“TCE”) to tangible assets (“TA”) ratio for the Bank increased to 10.98% at March 31, 2025, from 10.87% at December 31, 2024. The Bank’s investment securities are classified as available-for-sale, and therefore the unrealized losses on these securities are fully reflected in the TCE/TA ratio.

For the three months ended March 31, 2025, the Company recorded net income of $5.2 million, or $0.28 diluted earnings per share, compared to net income of $1.3 million, or $0.07 diluted earnings per share, for the quarter ended March 31, 2024. During the first quarter of 2024, the provision for income taxes included $2.4 million related to the loss of the tax favored status of prior appreciation and related tax penalties associated with the Company’s surrendered $48.0 million in bank-owned life insurance (“BOLI”) policies.

Commercial bank operating earnings (non-GAAP) exclude the above noted tax provision recorded for the BOLI surrender during 2024. Excluding this nonrecurring item, commercial bank operating earnings for the quarters ended March 31, 2025 and 2024 were $5.2 million and $3.7 million, respectively, an increase of $1.4 million, or 39%. Diluted commercial bank operating earnings per share (non-GAAP) for the three months ended March 31, 2025 and 2024 were $0.28 and $0.20, respectively.

The Company considers commercial bank operating earnings a useful comparative financial measure of the Company’s operating performance over multiple periods. Commercial bank operating earnings are determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). A reconciliation of non-GAAP financial measures to their most comparable financial measure in accordance with GAAP can be found in the tables below.

Click to learn more here.

The post FVCBankcorp, Inc. Announces First Quarter 2025 Earnings appeared first on FVCbank.

FVCBankcorp Announces Extension of Share Repurchase Program

FVCbank — Thu, 20 Mar 2025 19:40:23 +0000

FVCBankcorp Announces Extension of Share Repurchase Program of up to $1.3 Shares of Common Stock

FAIRFAX, Va.–(BUSINESS WIRE)– FVCBankcorp, Inc. (Nasdaq: FVCB) (the “Company”) announced today that its Board of Directors has extended its share repurchase program that was initiated in 2020. Under the repurchase program, the Company may repurchase up to 1,300,000 shares of its common stock, or approximately 7% of its outstanding shares of common stock at December 31, 2024. The repurchase program will expire on March 31, 2026, subject to earlier termination of the program by the Board of Directors.

Repurchases may be made in open market purchases, block trades or in privately negotiated transactions. Repurchases, if any, under the program will be made at the discretion of management, and will depend upon market pricing and conditions, business, legal, accounting and other considerations. Open market purchases will be conducted in accordance with the limitations of Rule 10b-18 of the Securities and Exchange Commission (the “SEC”). Repurchases may be made pursuant to any trading plan that may be adopted in accordance with SEC Rule 10b5-1, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. Under applicable law, repurchased shares will be cancelled and revert to the status of authorized but unissued shares.

The repurchase program may be modified, suspended or terminated at any time without notice, in the Company’s discretion, based upon a number of factors, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, the need for capital in the Company’s operations and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to repurchase any shares.

About FVCBankcorp Inc.

FVCBankcorp, Inc. is the holding company for FVCbank, a wholly-owned subsidiary which commenced operations in November 2007. FVCbank is a $2.20 billion Virginia-chartered community bank serving the banking needs of commercial businesses, nonprofit organizations, professional service entities, their owners and employees located in the greater Baltimore and Washington D.C., metropolitan areas. Locally owned and managed, FVCbank is based in Fairfax, Virginia, and has 8 full-service offices in Arlington, Fairfax, Manassas, Reston and Springfield, Virginia, Washington D.C., Baltimore and Bethesda, Maryland.

For more information about the Company, please visit the Investor Relations page of FVCBankcorp Inc.’s website, www.fvcbank.com.

Forward-looking Statements: This press release contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934, as amended. In some cases, forward-looking statements can be identified by use of words such as “may,” “will,” “anticipates,” “believes,” “expects,” “plans,” “estimates,” “potential,” “continue,” “should,” and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company’s market, interest rates and interest rate policy, competitive factors, and other conditions which by their nature, are not susceptible to accurate forecast and are subject to significant uncertainty. Because of these uncertainties and the assumptions on which this discussion and the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and in other periodic and current reports filed with the SEC. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company’s past results are not necessarily indicative of future performance.

The post FVCBankcorp Announces Extension of Share Repurchase Program appeared first on FVCbank.

FVCBank Announces Fourth Quarter and Full Year 2024 Earnings

FVCbank — Thu, 23 Jan 2025 20:43:40 +0000

FVCBank Announces Fourth Quarter and Full Year 2024 Earnings; Continued Growth in Profitability, Net Interest Income and Margin

FAIRFAX, Va.–(BUSINESS WIRE)– FVCBankcorp, Inc. (NASDAQ: FVCB) (the “Company”) today reported its financial results for the fourth quarter and full year of 2024.

Fourth Quarter Selected Financial Highlights

Net Income Increased 5% Compared to the Prior Quarter. Net income totaled $4.9 million, or $0.26 diluted earnings per share, for the quarter ended December 31, 2024, compared to net income of $4.7 million, or $0.25 diluted earnings per share, for the quarter ended September 30, 2024. Return on average assets for the quarter ended December 31, 2024 was 0.90%, an increase from 0.85% for the quarter ended September 30, 2024.
Net Interest Margin Improved 17% Compared to the Year Ago Quarter.Net interest income increased $2.3 million, or 18%, to $14.9 million for the fourth quarter 2024, compared to $12.7 million for the year ago quarter ended December 31, 2024. Net interest margin increased 40 basis points, or 17%, to 2.77% for the fourth quarter of 2024, compared to 2.37% for the fourth quarter of 2023. On a linked quarter basis, net interest margin increased 13 basis points, or 5%, from 2.64% for the three months ended September 30, 2024, the fourth consecutive quarter of margin improvement.
Noninterest Expense Decreased 2% for Both Fourth Quarter and Full Year 2024. Noninterest expense for the quarter ended December 31, 2024 totaled $9.0 million, a decrease of $194 thousand, or 2%, when compared to the linked quarter ended September 30, 2024 and decreased $400 thousand, or 4%, when compared to the year ago quarter ended December 31, 2023. The efficiency ratio for the quarter ended December 31, 2024 improved to 58.6%. Year-over-year, noninterest expense decreased $842 thousand, or 2%.
Sound, Well Capitalized Balance Sheet.All of FVCbank’s (the “Bank”) regulatory capital components and ratios were in excess of thresholds required to be considered “well capitalized,” with total risk-based capital to risk-weighted assets of 14.73% at December 31, 2024, compared to 13.83% at December 31, 2023, an increase of 7%. The tangible common equity (“TCE”) to tangible assets (“TA”) ratio for the Bank increased to 10.87% at December 31, 2024, from 10.12% at December 31, 2023. The Bank’s investment securities are classified as available-for-sale, and therefore the unrealized losses on these securities is fully reflected in the TCE/TA ratio.

For the three months ended December 31, 2024, the Company recorded net income of $4.9 million, or $0.26 diluted earnings per share, compared to a net loss of $5.1 million, or $0.28 diluted loss per share, for the quarter ended December 31, 2023. During the fourth quarter of 2023, the Company sold a portion of its investment portfolio totaling $61.4 million of book value available-for-sale securities which resulted in an after-tax loss of $8.5 million. In addition, the Company reduced excess office space and consolidated two branch locations which resulted in $336 thousand in lease write-offs and severance costs.

For the year ended December 31, 2024, the Company reported net income of $15.1 million, or $0.82 diluted earnings per share, an increase of $11.2 million, compared to net income of $3.8 million, or $0.21 diluted earnings per share for the year ended December 31, 2023. During 2024, the Company surrendered $48.0 million in bank-owned life insurance (“BOLI”), which resulted in a nonrecurring increase of $2.4 million to the Company’s tax provisioning related to the gain associated with the cash payout. For the year ended December 31, 2023, net income included after-tax losses totaling $12.2 million related to sale of $101.7 million in book value available-for-sale investment securities and nonrecurring noninterest expense totaling $457 thousand for office space reductions and severance costs.

Commercial bank operating earnings (non-GAAP) exclude the above noted taxes recorded for the aforementioned BOLI surrender during 2024 and the losses on the sale of available-for-sale investment securities during 2023 along with the office space reductions and severance costs. Excluding these nonrecurring items, commercial bank operating earnings for the quarters ended December 31, 2024 and 2023 were $4.9 million and $3.8 million, respectively, an increase of $1.1 million, or 30%. Commercial bank operating earnings for the year ended December 31, 2024 and 2023 were $17.4 million and $16.3 million, respectively, an increase of $1.1 million, or 7%. Diluted commercial bank operating earnings per share (non-GAAP) for the three months ended December 31, 2024 and 2023 were $0.26 and $0.21, respectively. Diluted commercial bank operating earnings per share (non-GAAP) for the year ended December 31, 2024 and 2023 were $0.95 and $0.90, respectively.

Click here to read more.

The post FVCBank Announces Fourth Quarter and Full Year 2024 Earnings appeared first on FVCbank.