FVCB · FVCBankcorp, Inc.

FVCBankcorp, Inc. delivered strong Q1 2026 results with net income rising 24% year-over-year to $6.4 million, driven by robust net interest income growth of 16% to $17.4 million and the ninth consecutive quarter of net interest margin expansion to 3.26%. Pre-tax pre-provision operating income (non-GAAP) surged 31% to $8.7 million, reflecting operational efficiencies with the efficiency ratio improving 7% to 53.98%, as operating expenses grew only 8% while revenue accelerated. Balance sheet growth included total assets up 2% quarter-over-quarter to $2.34 billion, fueled by 3% core deposit expansion to $1.77 billion, offsetting a 1% loan decline to $1.92 billion mainly from a $20 million participation out. Credit quality remained solid with loans past due 30+ days down 59% to $3.3 million, though nonperforming loans edged up to 0.52% of assets; provision for credit losses was modest at $168 thousand. The company redeemed $18.8 million of higher-cost floating-rate subordinated debt (8.59%) and issued $25 million in fixed-rate senior notes at 6.75%, aiming to lower cost of funds. Capital position strengthened with FVCbank's total risk-based capital at 15.86%. The board raised the quarterly dividend 17% to $0.07 per share and extended the share repurchase program for up to 1.4 million shares (8% of outstanding) through March 2027. Management highlighted disciplined core customer growth, technology-driven efficiencies, and margin trajectory, positioning for sustained profitability.