FVCBankcorp Inc

For the period ended Dec 31, 2023. Filed Mar 21, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 21, 2024

FVCB$16.29+0.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated statements of condition

December 31, 2023 and 2022

(In thousands, except share data)

2023 · 2022
Assets
Cash and due from banks				$8,042		$7,253
Interest-bearing deposits at other financial institutions				52,480		74,300
Securities held-to-maturity (fair value of $252 thousand and $252 thousand for December 31, 2023 and 2022), net of allowance for credit losses of $0 and $0 at December 31, 2023 and 2022				264		264
Securities available-for-sale, at fair value				171,595		278,069
Restricted stock, at cost				9,488		15,612
Loans, net of allowance for credit losses of $18.9 million and $16.0 million at December 31, 2023 and 2022, respectively				1,809,693		1,824,394
Premises and equipment, net				997		1,220
Accrued interest receivable				10,321		9,435
Prepaid expenses				3,506		3,273
Deferred tax assets, net				14,823		18,533
Goodwill and intangibles, net				7,585		7,790
Bank owned life insurance (BOLI)				56,823		55,371
Operating lease right-of-use assets				8,395		9,680
Other assets				36,546		39,128
Total assets				$2,190,558		$2,344,322
Liabilities and Stockholders' Equity
Liabilities
Deposits:
Noninterest-bearing				$396,724		$438,269
Interest-bearing checking, savings and money market				896,969		883,480
Time deposits				551,599		508,413
Total deposits				$1,845,292		$1,830,162
Federal funds purchased				$—		$30,000
Federal Home Loan Bank ("FHLB") advances				85,000		235,000
Subordinated notes, net of issuance costs				19,620		19,565
Accrued interest payable				2,415		1,269
Operating lease liabilities				9,241		10,394
Reserves for unfunded commitments				602		—
Accrued expenses and other liabilities				11,271		15,550
Total liabilities				$1,973,441		$2,141,940
Commitments and Contingent Liabilities
Stockholders' Equity	2023	2022
Preferred stock, $0.01 par value
Shares authorized	1,000,000		1,000,000
Shares issued and outstanding	—		—
Common stock, $0.01 par value
Shares authorized	20,000,000		20,000,000
Shares issued and outstanding	17,806,995		17,475,109		$178		$175
Additional paid-in capital				125,209		123,886
Retained earnings				115,890		114,888
Accumulated other comprehensive (loss), net				(24,160)		(36,567)
Total stockholders' equity				$217,117		$202,382
Total liabilities and stockholders' equity				$2,190,558		$2,344,322

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.