FVCBankcorp, Inc.

Statement of Condition

Total assets were $2.37 billion at June 30, 2026 and $2.29 billion at December 31, 2025, an increase of $74.9 million, or 3%. Compared to the year ago quarter ended June 30, 2025, total assets increased $129.9 million, or 6%, from $2.24 billion.

Loans, net of fees, were $1.90 billion at June 30, 2026, $1.94 billion at December 31, 2025, and $1.87 billion at June 30, 2025. During the most recent quarter, loans, net of fees, decreased $23.9 million, or 1%, primarily due to two unexpected loan payoffs totaling $48.7 million which contributed to the recognition of $1.0 million in loan prepayment fees. When compared to June 30, 2025, loans, net of fees, increased $30.3 million, or 2%. For the second quarter of 2026, loan originations totaled $36.6 million with a weighted average rate of 7.32%. Additional loan originations that were expected to close during the second quarter of 2026 are now anticipated to close during the early part of the third quarter of 2026. Loan renewals totaled $29.2 million and had a weighted average rate of 6.81%. Loans that paid off during the second quarter of 2026 totaled $87.2 million and had a weighted average rate of 6.90%, and were primarily comprised of CRE and construction loans. Commercial lines of credit decreased $11.8 million at June 30, 2026 when compared to March 31, 2026, contributing to the decrease in net loans for the second quarter. The outstanding balance of the Company’s warehouse lending facility increased $33.3 million for the quarter ended June 30, 2026 to end at $67.3 million and had a weighted average yield of 5.72%.

Investment securities were $147.2 million at June 30, 2026, $153.4 million at December 31, 2025, and $157.1 million at June 30, 2025. For the quarter ended June 30, 2026, investment securities decreased due to principal repayments totaling $3.2 million, offset by an increase in the portfolio’s unrealized losses totaling $186 thousand.

Total deposits were $2.05 billion at June 30, 2026, $2.00 billion at December 31, 2025, and $1.90 billion at June 30, 2025. For the second quarter of 2026, total deposits increased $24.0 million, or 1%. Core deposits, which exclude wholesale deposits, increased $42.8 million, or 2%, for the quarter ended June 30, 2026. Noninterest-bearing deposits increased $46.0 million, or 12%, for the quarter ended June 30, 2026, and were 20.2% of total deposits. At June 30, 2026 and December 31, 2025, reciprocal deposits, which are mostly comprised of interest checking and savings accounts, totaled $291.9 million and $291.8 million, respectively, and are considered part of the Company’s core deposit base. The Company continues to build core deposits at lower interest rates.

At June 30, 2026 and December 31, 2025, wholesale funding totaled $241.2 million and $285.0 million, respectively, a decrease of $43.8 million or 15% from year end. Wholesale funding at June 30, 2026 was fully comprised of wholesale time deposits and had a weighted average rate of 3.45%. During the second quarter of 2026, the Company unwound $170 million in pay-fixed/receive-floating interest rate swaps that had an average rate of 3.27%. The gain associated with this unwind totaled $1.7 million and is amortized over the remaining term of the cash flow hedges into interest expense, as the funding associated with these cash flow hedges is still in place.

Shareholders’ equity at June 30, 2026 was $265.4 million, $253.6 million at December 31, 2025, and $243.2 million at June 30, 2025. Shareholders’ equity at June 30, 2026 increased $11.8 million, or 5%, from December 31, 2025. Earnings for the six months ended June 30, 2026 contributed $14.6 million to the increase in shareholders’ equity. The increase to shareholders’ equity from earnings was partially offset by increased cash dividends paid during 2026 totaling $2.3 million and shares repurchased during the second quarter of 2026 totaling $2.1 million. Accumulated other comprehensive loss increased $135 thousand for the six months ended June 30, 2026, and is attributable to market value decreases in the Company’s available-for-sale investment securities portfolio.

Tangible book value per share (a non-GAAP financial measure which is defined in the tables below) at June 30, 2026 and December 31, 2025 was $14.31 and $13.74, respectively, an increase of 4%.

The Bank was well-capitalized at June 30, 2026, with total risk-based capital ratio of 16.43%, common equity tier 1 risk-based capital ratio of 15.41%, and tier 1 leverage ratio of 12.94%.