FVCBankcorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 25, 2023 at 09:38 pm
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FVCBankcorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 15.88 million compared to USD 15.24 million a year ago. Net income was USD 4.9 million compared to USD 6.52 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 0.36 a year ago.
For the full year, net interest income was USD 65.24 million compared to USD 57.95 million a year ago. Net income was USD 24.98 million compared to USD 21.93 million a year ago. Basic earnings per share from continuing operations was USD 1.43 compared to USD 1.29 a year ago. Diluted earnings per share from continuing operations was USD 1.35 compared to USD 1.2 a year ago.
FVCBankcorp, Inc. is a holding company. The Company operates primarily through its subsidiary, FVCbank (the Bank), which is a community oriented, locally-owned and managed commercial bank. It emphasizes providing commercial banking services to small and medium-sized businesses, professionals, non-profit organizations and associations, and investors living and working in and near its service area. It offers retail banking services to accommodate the individual needs of both corporate customers as well as the communities it serves. The Company also offers online banking, mobile banking and a remote deposit service. The Company provides a variety of lending products to small and medium-sized businesses, including commercial real estate loans; commercial construction loans, and Small Business Administration (SBA) lending. Through third party networks, the Company offers its customers access to a full range of business insurance products and business and consumer credit card products.