FVCBankcorp, Inc. reported a net income of $5.7 million, or $0.31 per diluted share, for the second quarter of 2025, marking a 36% increase from the $4.2 million, or $0.23 per diluted share, recorded in the same period of 2024. The bank's net interest income rose by 15% to $15.8 million, up from $13.7 million year-over-year, driven by a combination of increased loan volumes and improved interest rates. For the first half of 2025, net income reached $10.8 million, compared to $5.5 million in the prior year, with net interest income for the period increasing by 16% to $30.8 million.
Total assets for FVCBankcorp increased to $2.24 billion as of June 30, 2025, up from $2.20 billion at the end of 2024. The bank's total deposits also saw a rise, increasing by $32.9 million to $1.90 billion. Notably, commercial and industrial loans grew by 18% to $397.5 million, reflecting strong demand in this segment. However, commercial real estate loans decreased to $981.5 million, down from $1.04 billion, representing a shift in the bank's lending focus.
In terms of operational metrics, the bank's allowance for credit losses remained stable at $18.1 million, with nonperforming loans decreasing to $10.5 million, or 0.47% of total assets, from $12.8 million, or 0.58%, at the end of 2024. The bank's capital position remained strong, with total shareholders' equity increasing to $243.2 million, up from $235.4 million, and a total risk-based capital ratio of 15.28%, well above regulatory requirements.
Looking ahead, FVCBankcorp plans to initiate a quarterly cash dividend program, with an initial dividend of $0.06 per share set to be paid on August 18, 2025. The bank's management remains focused on maintaining a strong capital position and managing credit risk effectively, particularly in light of potential economic fluctuations. The bank's strategic initiatives, including a focus on commercial and industrial lending, are expected to support continued growth in the coming quarters.
About FVCBankcorp, Inc.
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