FVCBankcorp, Inc.
For the period ended Dec 31, 2024. Filed Mar 20, 2025.
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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.
FY2024 · Filed Mar 20, 2025
FVCB$16.32+0.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated statements of cash flows
Consolidated Statements of Cash Flows
For the Years Ended December 31, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| Cash Flows From Operating Activities | ||
| Net income | $15,064 | $3,822 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 280 | 390 |
| Provision for credit losses | 6 | 132 |
| Net amortization of premium of securities | 237 | 593 |
| Net accretion of deferred loan costs, fees, and other acquisition accounting adjustments | (1,384) | (1,855) |
| Net accretion of acquisition accounting adjustments | — | (421) |
| (Gain)/Loss on sales and calls of available-for-sale investment securities | — | 15,577 |
| Office space reduction costs | — | 273 |
| Loss (income) from minority membership interest | (376) | 1,110 |
| Amortization of subordinated debt issuance costs | 59 | 55 |
| Core deposits intangible amortization | 165 | 205 |
| Tax credits amortization | (150) | 126 |
| Equity-based compensation expense | 789 | 1,143 |
| BOLI income | (397) | (1,452) |
| Deferred income tax expense | 1,308 | 934 |
| Changes in assets and liabilities: | ||
| Increase (decrease) in accrued interest receivable, prepaid expenses and other assets | 2,510 | (16) |
| Increase (decrease) in accrued interest payable, accrued expenses and other liabilities | 121 | (4,347) |
| Net cash provided by operating activities | $18,232 | $16,269 |
| Cash Flows From Investing Activities | ||
| Increase (decrease) in interest-bearing deposits at other financial institutions | $(30,309) | $21,820 |
| Purchases of available-for-sale securities | (1,884) | — |
| Proceeds from sales or maturity of securities available-for-sale | 1,000 | 86,922 |
| Proceeds from repayments of securities available-for-sale | 14,466 | 20,795 |
| Net redemption of restricted stock | 1,302 | 6,124 |
| Net increase (decrease) in loans | (41,127) | 13,777 |
| Proceeds from surrender of bank-owned life insurance | 47,774 | — |
| Purchases of premises and equipment, net | (141) | (212) |
| Net cash provided by (used in) investing activities | $(8,919) | $149,226 |
| Cash Flows From Financing Activities | ||
| Net increase in non-maturing deposits | $78,871 | $(28,056) |
| Net (decrease) increase in time deposits | (53,558) | 43,179 |
| Redemption of subordinated debt, net | (984) | — |
| Decrease in federal funds purchased | — | (30,000) |
| Net decrease in FHLB advances | (35,000) | (150,000) |
| Repurchase of shares to satisfy tax withholding for stock-based compensation | (179) | (113) |
| Repurchase of shares of common stock | — | (1,460) |
| Common stock issuance | 1,656 | 1,744 |
| Net cash (used in) provided by financing activities | $(9,194) | $(164,706) |
| Net increase in cash and cash equivalents | $119 | $789 |
| Cash and cash equivalents, beginning of year | 8,042 | 7,253 |
| Cash and cash equivalents, end of period | $8,161 | $8,042 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.