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FVCBankcorp, Inc. Announces First Quarter 2026 Earnings; 24% Increase in Net Income Compared to Year Ago Quarter
FAIRFAX, Va.--(BUSINESS WIRE)-- FVCBankcorp, Inc. (NASDAQ: FVCB) (the “Company”) today reported net income of $6.4 million for the quarter ended March 31,
About this update from Fvcbankcorp, Inc.
[{"type":"text","content":" FAIRFAX, Va.--(BUSINESS WIRE)--\nFVCBankcorp, Inc. (NASDAQ: FVCB) (the “Company”) today reported net income of $6.4 million for the quarter ended March 31, 2026 compared to net income of $5.2 million for the quarter ended March 31, 2025, an increase of $1.2 million, or 24%. Compared to the linked quarter, net income increased $739 thousand, or 13%, from $5.6 million for the quarter ended December 31, 2025.\n\n\nDiluted earnings per share were $0.35 for the quarter ended March 31, 2026 compared to $0.28 for the quarter ended March 31, 2025, an increase of 25%. Compared to the quarter ended December 31, 2025, diluted earnings per share for the first quarter of 2026 increased $0.04, or 13%, from $0.31.\n\n\nReturn on average assets for the quarter ended March 31, 2026 was 1.17%, an increase from 1.00% for the quarter ended December 31, 2025, and an increase from 0.94% for the year ago quarter ended March 31, 2025. Return on average equity increased to 10.04% for the quarter ended March 31, 2026, compared to 8.94% for the quarter ended December 31, 2025, and 8.61% for the year ago quarter ended March 31, 2025.\n\n\nFirst Quarter Selected Financial Highlights\n\n\n\nPre-tax Pre-provision Operating Income Increased 31% Year-Over-Year. Pre-tax pre-provision operating income (non-GAAP) (which excludes provision for credit losses, acceleration of debt issuance costs on subordinated debt redemption, and income taxes) increased 31%, or $2.1 million, to $8.7 million for the quarter ended March 31, 2026 compared to $6.6 million for the quarter ended March 31, 2025. Refer below to the “Reconciliation of Net Income (GAAP) to Pre-Tax Pre-Provision Operating Income (Non-GAAP)” table for further information.\n\n\n\nNet Interest Margin Increased to 3.26%, Up 15% Compared to the Year Ago Quarter. For the quarter ended March 31, 2026, net interest margin improved 21 basis points to 3.26% from 3.05% for the three months ended December 31, 2025, the ninth consecutive quarter of margin improvement, and increased 43 basis points, or 15%, compared to 2.83% for the first quarter of 2025.\n\n\n\nEfficiency Ratio Improved to 53.98% for the Current Quarter. The efficiency ratio decreased 7% to 53.98% for the first quarter of 2026 compared to the same period of 2025. Net interest income increased $2.4 million, or 16%, to $17.4 million for the first quarter o...