FVCBankcorp Inc
For the period ended Jun 30, 2024. Filed Aug 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 13, 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 Cash Flows For the
Consolidated Statements of Cash Flows
For the Six Months Ended June 30, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| Cash Flows From Operating Activities | ||
| Net income | $5,495 | $4,854 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 149 | 207 |
| Provision for credit losses | 206 | 860 |
| Net amortization of premium of securities | 118 | 213 |
| Net accretion of deferred loan costs and fees | (260) | (849) |
| Net accretion of acquisition accounting adjustments | — | (421) |
| Loss on sale of available-for-sale investment securities | — | 4,592 |
| Loss (income) from minority membership interest | (148) | 781 |
| Amortization of subordinated debt issuance costs | 13 | 27 |
| Core deposits intangible amortization | 87 | 107 |
| Tax credits amortization | — | 63 |
| Equity-based compensation expense | 369 | 650 |
| BOLI income | (256) | (694) |
| Changes in assets and liabilities: | ||
| Increase (decrease) in accrued interest receivable, prepaid expenses and other assets | (842) | (5,756) |
| Increase (decrease) in accrued interest payable, accrued expenses and other liabilities | 3,773 | 854 |
| Net cash provided by operating activities | $8,704 | $5,488 |
| Cash Flows From Investing Activities | ||
| (Increase) decrease in interest-bearing deposits at other financial institutions | $(101,860) | $7,577 |
| Proceeds from sales of securities available-for-sale | — | 35,778 |
| Proceeds from redemptions of securities available-for-sale | 7,340 | 10,899 |
| Net redemption (purchase) of restricted stock | — | 10,702 |
| Net increase (decrease) in loans | (57,975) | (62,379) |
| Proceeds from surrender of bank-owned life insurance | 47,774 | — |
| Purchases of premises and equipment, net | (67) | (90) |
| Net cash provided by (used in) investing activities | $(104,788) | $2,487 |
| Cash Flows From Financing Activities | ||
| Net (decrease) increase in noninterest-bearing, interest-bearing checking, savings, and money market deposits | $150,514 | $(12,269) |
| Net increase in time deposits | (27,057) | 270,142 |
| (Decrease) increase in federal funds purchased | (469) | (30,000) |
| Net decrease in FHLB advances | (26,248) | (235,000) |
| Payments of withholdings taxes due to restricted stock vestings | (52) | (83) |
| Repurchase of shares of common stock | — | (1,448) |
| Common stock issuance | 1,541 | 1,711 |
| Net cash (used in) provided by financing activities | $98,229 | $(6,947) |
| Net (decrease) increase in cash and cash equivalents | $2,146 | $1,028 |
| Cash and cash equivalents, beginning of year | 8,042 | 7,253 |
| Cash and cash equivalents, end of period | $10,188 | $8,281 |
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