FVCBankcorp Inc
For the period ended Dec 31, 2023. Filed Mar 21, 2024.
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FY2023 · Filed Mar 21, 2024
FVCB$16.32+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated statements of income
(In thousands, except per share data)
| 2023 | 2022 | |
|---|---|---|
| Interest and Dividend Income | ||
| Interest and fees on loans | $98,373 | $73,624 |
| Interest and dividends on securities held-to-maturity | 6 | 6 |
| Interest and dividends on securities available-for-sale | 4,949 | 5,959 |
| Dividends on restricted stock | 646 | 408 |
| Interest on deposits at other financial institutions | 2,641 | 685 |
| Total interest and dividend income | $106,615 | $80,682 |
| Interest Expense | ||
| Interest on deposits | $47,345 | $12,468 |
| Interest on federal funds purchased | 11 | 688 |
| Interest on short-term debt | 3,833 | 1,251 |
| Interest on subordinated notes | 1,030 | 1,031 |
| Total interest expense | $52,219 | $15,438 |
| Net Interest Income | $54,396 | $65,244 |
| Provision for credit losses | 132 | 2,629 |
| Net interest income after provision for credit losses | $54,264 | $62,615 |
| Noninterest Income | ||
| Service charges on deposit accounts | $1,028 | $954 |
| BOLI income | 1,452 | 1,200 |
| (Loss) from minority membership interest | (1,110) | (33) |
| Loss on sale of securities available-for-sale | (15,577) | — |
| Other income | 837 | 713 |
| Total noninterest income (loss) | $(13,370) | $2,834 |
| Noninterest Expenses | ||
| Salaries and employee benefits | $20,643 | $20,316 |
| Occupancy and equipment expense | 2,357 | 2,190 |
| Internet banking and software expense | 2,505 | 1,707 |
| Data processing and network administration | 2,468 | 2,303 |
| State franchise taxes | 2,338 | 2,036 |
| Audit, legal and consulting fees | 858 | 1,210 |
| Merger and acquisition expense | — | 125 |
| Loan related (benefit)/expenses | (10) | 555 |
| FDIC insurance | 1,433 | 620 |
| Director fees | 660 | 668 |
| Core deposit intangible amortization | 205 | 262 |
| Office space reduction costs | 273 | — |
| Tax credit amortization | 126 | 126 |
| Other operating expenses | 2,806 | 2,342 |
| Total noninterest expenses | $36,662 | $34,460 |
| Net income before income tax expense | $4,232 | $30,989 |
| Income tax expense | 410 | 6,005 |
| Net income | $3,822 | $24,984 |
| Earnings per share, basic | $0.22 | $1.43 |
| Earnings per share, diluted | $0.21 | $1.35 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.