FVCBankcorp, Inc. reported record net income of $8.2 million for the quarter ended June 30, 2026, a 45% increase compared to net income of $5.7 million for the quarter ended June 30, 2025. The company reported adjusted earnings per share of $0.42, beating the analyst consensus estimate of $0.36 by 16.67%. This represents a 40% increase over earnings of $0.30 per share from the same period last year. Quarterly sales of $19.149 million beat the analyst consensus estimate of $18.065 million by 6.00%, rising 21.51% from sales of $15.759 million in the prior year period.

Second Quarter 2026 Financial Highlights

The following table summarizes key financial metrics for the quarter ended June 30, 2026, compared to prior periods:

Core operating earnings (non-GAAP), which excludes the $847 thousand gain on the sale of a minority interest in 2026 and termination of derivative instruments totaling $154 thousand in 2025, increased 36%, or $2.0 million, to $7.6 million for the quarter ended June 30, 2026 compared to $5.5 million for the quarter ended June 30, 2025.

Net Interest Income and Margin

Net interest income increased $3.4 million, or 22%, to $19.1 million for the quarter ended June 30, 2026, compared to $15.8 million for the same period of 2025, and increased $1.7 million, or 10%, compared to the linked quarter ended March 31, 2026. Net interest margin improved 63 basis points to 3.53% for the quarter ended June 30, 2026 from 2.90% for the quarter ended June 30, 2025, and increased 27 basis points from 3.26% for the linked quarter. This marked the Company's tenth consecutive quarter of margin expansion.

Net interest income for the second quarter of 2026 included $1.0 million in loan fees related to the prepayment of a commercial real estate loan at the end of the quarter. Excluding these loan fees, net interest margin was 3.35% for the second quarter of 2026, an increase of 9 basis points from the linked quarter ended March 31, 2026. The cost of deposits decreased to 2.40% for the quarter ended June 30, 2026, a decrease of 34 basis points from 2.74% for the year-ago quarter ended June 30, 2025.

For the six months ended June 30, 2026, net interest income was $36.6 million compared to $30.8 million for the six months ended June 30, 2025, an increase of $5.7 million, or 19%. The Company's net interest margin for the six months ended June 30, 2026 was 3.40% compared to 2.87% for the year-ago six-month period, an increase of 53 basis points.

Deposit Growth and Balance Sheet

Core deposits, which exclude wholesale deposits, increased $42.8 million, or 2%, to $1.81 billion at June 30, 2026 compared to $1.77 billion at March 31, 2026, and increased $142.0 million, or 9%, when compared to $1.67 billion at June 30, 2025. Noninterest-bearing deposits increased $46.0 million, or 12%, to $415.3 million during the quarter ended June 30, 2026, and increased $59.1 million, or 17%, year-over-year. Wholesale deposits decreased $18.8 million, or 7%, to end at $241.2 million at June 30, 2026.

Total assets were $2.37 billion at June 30, 2026, an increase of $74.9 million, or 3%, from $2.29 billion at December 31, 2025, and an increase of $129.9 million, or 6%, from $2.24 billion at June 30, 2025. Shareholders' equity at June 30, 2026 was $265.4 million, up $11.8 million, or 5%, from $253.6 million at December 31, 2025. Tangible book value per share was $14.31 at June 30, 2026, compared to $13.74 at December 31, 2025, an increase of 4%.

Asset Quality

Credit quality remained solid during the quarter. Loans past due 30 days or more totaled $2.3 million at June 30, 2026, a decrease of $1.0 million, or 30%, from $3.3 million at March 31, 2026. Nonperforming loans to total assets remained at 0.48% at June 30, 2026 and at December 31, 2025. Nonperforming loans at June 30, 2026 decreased to $11.4 million from $12.2 million at March 31, 2026. The Company recorded net recoveries of $2 thousand for the quarter ended June 30, 2026. The allowance for credit losses was $19.2 million at June 30, 2026, representing 1.01% of total loans, net of fees.

For the three months ended June 30, 2026, the Company recorded a provision for credit losses totaling $242 thousand, compared to $105 thousand for the same period of 2025. The Company's watch list loans totaled $57.9 million at both June 30, 2026 and December 31, 2025.

Capital Position and Dividend

FVCbank remained well-capitalized at June 30, 2026, with a total risk-based capital ratio of 16.43%, a common equity tier 1 risk-based capital ratio of 15.41%, and a tier 1 leverage ratio of 12.94%. The tangible common equity to tangible assets ratio for the Bank was 11.52% at June 30, 2026, up from 11.38% at December 31, 2025.

On July 16, 2026, the Company declared a quarterly cash dividend of $0.07 per share of common stock outstanding, payable on August 17, 2026 to shareholders of record on July 27, 2026. Based on the current number of shares outstanding, the aggregate payment will be approximately $1.3 million.

Six-Month Results

For the six months ended June 30, 2026, the Company reported net income of $14.6 million, or $0.81 diluted earnings per share, compared to $10.8 million, or $0.59 diluted earnings per share, for the six months ended June 30, 2025, an increase of $3.8 million, or 35%. Return on average assets for the six months ended June 30, 2026 was 1.33%, an increase from 0.98% for the six months ended June 30, 2025. Return on average equity increased to 11.29% for the six months ended June 30, 2026, compared to 8.99% for the six months ended June 30, 2025.

Management Commentary

David W. Pijor, Esq., Chairman and Chief Executive Officer, stated: "Our record earnings are the result of our relationship driven strategy and disciplined approach to grow our core customer base. We continue to see margin expansion, our tenth consecutive quarter, improving to 3.53%. This is our fifth consecutive quarter reporting an annualized return of average assets of 1% or better, improving to 1.48% for the second quarter of 2026. We are also pleased to see continued growth in our core deposits, growing 9% year-over-year. Lastly, we have focused on reducing our regulatory concentration of commercial real estate loans, which as of June 30, 2026, is now 287% of regulatory capital."

Patricia A. Ferrick, President, added: "We remain focused on enhancing profitability and continued operating efficiency. We are equally committed to increasing our loans and deposits by adding new customers and by deepening our existing customer relationships. Our recently announced Hampton Roads loan production office will further support this strategic objective."

FVCBankcorp, Inc. is the holding company for FVCbank, a $2.37 billion asset-sized Virginia-chartered community bank serving the banking needs of commercial businesses, nonprofit organizations, professional service entities, their owners and employees located in the greater Baltimore and Washington, D.C. metropolitan areas. FVCbank is based in Fairfax, Virginia, and has 8 full-service offices in Arlington, Fairfax, Manassas, Reston and Springfield, Virginia, Washington, D.C., and Baltimore, and Bethesda, Maryland.

FVCBankcorp, Inc. has declared a quarterly cash dividend of $0.07 per share of its common stock outstanding. The dividend is payable on August 17, 2026, to shareholders of record on July 27, 2026. The declaration and payment of future dividends are subject to the sole discretion of the Board of Directors in addition to regulatory restrictions.

FVCBankcorp, Inc. is the holding company for FVCbank, a wholly-owned subsidiary that commenced operations in November 2007. FVCbank is a Virginia-chartered community bank serving commercial businesses, nonprofit organizations, professional service entities, their owners, and employees located in the greater Baltimore and Washington, D.C. metropolitan areas.

The bank operates 8 full-service offices across Arlington, Fairfax, Manassas, Reston, and Springfield in Virginia; Washington, D.C.; and Baltimore and Bethesda in Maryland. FVCbank is based in Fairfax, Virginia.

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