FVCBankcorp, Inc. reported a net income of $5.6 million, or $0.31 per diluted share, for the third quarter of 2025, reflecting a 19% increase from the $4.7 million, or $0.25 per diluted share, recorded in the same period of 2024. For the nine months ending September 30, 2025, the bank's net income reached $16.4 million, or $0.90 per diluted share, compared to $10.2 million, or $0.55 per diluted share, for the corresponding period in 2024. The increase in profitability was primarily driven by a 13% rise in net interest income, which totaled $16.0 million for the quarter, up from $14.2 million a year earlier, and a 15% increase for the nine-month period, totaling $46.8 million compared to $40.7 million in 2024.
The bank's total assets grew to $2.32 billion as of September 30, 2025, an increase of $120.1 million from $2.20 billion at the end of 2024. Total loans decreased slightly to $1.86 billion from $1.87 billion, while total deposits increased to $1.98 billion, up from $1.87 billion. The bank's allowance for credit losses was $17.9 million, representing 0.97% of total loans, consistent with the previous period. Nonperforming loans decreased to $11.1 million, or 0.48% of total assets, down from $12.9 million, or 0.58%, at the end of 2024.
FVCBankcorp's noninterest income for the third quarter was $1.0 million, a 27% increase from $815,000 in the prior year. This growth was attributed to higher service charges on deposit accounts and increased income from minority membership interests. Noninterest expenses rose to $9.5 million for the quarter, up 3% from $9.2 million in 2024, primarily due to increased salaries and employee benefits, as well as higher internet banking and software expenses.
Strategically, FVCBankcorp has focused on enhancing its product offerings and expanding its customer base. The bank approved over $65 million in new loan originations during the third quarter, with a weighted average interest rate of 8.95%. The bank's capital position remains strong, with total shareholders' equity increasing to $249.8 million, up from $235.4 million at the end of 2024. The bank's capital ratios continue to exceed regulatory requirements, positioning it as a well-capitalized institution.
Looking ahead, FVCBankcorp anticipates continued growth in its loan portfolio and deposit base, supported by its strategic initiatives and a focus on customer service. The bank remains vigilant in monitoring economic conditions and credit quality, particularly in light of potential market fluctuations and interest rate changes. The management's outlook reflects confidence in the bank's ability to navigate challenges while pursuing opportunities for expansion and profitability.
About FVCBankcorp, Inc.
A community-focused bank holding company based in Virginia, operating through its subsidiary FVCbank, provides commercial banking services to small and medium-sized businesses, nonprofits, and professionals in the Washington and Baltimore areas. It offers lending, deposit, treasury management, and digital banking solutions, emphasizing personalized service, asset quality, and strategic growth through organic expansion and acquisitions. The bank maintains strong risk management and regulatory compliance to support its competitive, relationship-driven business model.
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