FVCBankcorp, Inc. Announces First Quarter 2025 Earnings; Fifth Consecutive Quarter of Improved Profitability and Margin

About this update from Fvcbankcorp, Inc.

[{"type":"text","content":"FAIRFAX, Va., April 22, 2025--(BUSINESS WIRE)--FVCBankcorp, Inc. (NASDAQ: FVCB) (the "Company") today reported its financial results for the first quarter of 2025.","length":173,"tagName":"p"},{"type":"text","content":"First Quarter Selected Financial Highlights","length":43,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"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.","length":417,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"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.","length":560,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"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.","length":587,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"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 ...

More updates from Fvcbankcorp, Inc.