FVCBankcorp Q3 net income jumps
FVCB•FVCBankcorp's third-quarter net income rose 19% year over year to $6.64 million, while diluted EPS increased 20%. Net interest income rose 15% to $18.43 million, and the company declared a $0.07-per-share quarterly dividend.
1. Quarterly results
FVCBankcorp reported third-quarter net income of $6.64 million, up 19% year over year, and diluted EPS increased 20%. Net interest income rose 15% to $18.43 million, while net interest margin improved to 3.32%.
2. Outlook and dividend
The company declared a quarterly cash dividend of $0.07 per share. It expects scheduled repricings, maturities and new originations to support further loan-yield improvement, and said its loan pipeline provides momentum for selective loan and customer growth.
