Financial Data and Key Metrics Changes - For the full year of 2024, the bank increased its net income by $11.2 million or 294% over 2023 [15] - Total assets increased by $8.5 million or 3.9% and total loans outstanding increased by $42 million or 3.3% [15] - For the first quarter of 2025, commercial bank operating earnings increased by 39% compared to the same quarter last year [16] - Return on average assets improved from 0.25% in Q1 2024 to 0.94% in Q1 2025 [16] - Pre-tax pre-provision return on average assets increased from 0.85% to 1.2% in Q1 2025 [16] Business Line Data and Key Metrics Changes - Net interest income improved by 18% and net interest margin improved by 15% compared to the year-ago quarter [15] - Tangible common equity reached $234.7 million on March 31, 2025, representing a 10.1% increase from the previous year [49] - Loans past due 30 days or more decreased by $7.2 million or 84% from $8.4 million at December 31, 2024 [49] Market Data and Key Metrics Changes - Total assets increased at an annual rate of 7.6% in Q1 2025, total loans increased at an annual rate of 2.5%, and total deposits increased at an annual rate of 7.7% [55] Company Strategy and Development Direction - The company emphasizes building long-term relationships with clients and utilizing technology to enhance performance [19][51] - Recent technology initiatives include partnerships with Clarivus for data analytics and the Q2 digital platform for online banking solutions [21][54] - The bank aims to continue growth and profitability through a relationship-driven strategy coupled with smart technology use [25] Management's Comments on Operating Environment and Future Outlook - Management reported strong credit quality and a well-capitalized balance sheet, indicating confidence in future earnings growth [16][17] - The bank's efficiency improved from 64% in 2023 to 58.1% in the most recent quarter, suggesting operational improvements [25] Other Important Information - The bank repurchased 415,000 shares of its common stock for an average price of $11.14 per share, with all repurchased shares canceled [18][50] - The Center for Disaster Philanthropy was awarded the 2025 El Burwell Gunn Citizenship Award for its community support efforts [26][27] Q&A Session Summary Question: Were there any questions regarding the election of directors? - No questions were raised regarding the election of directors [11] Question: Were there any questions about the compensation of executive officers? - No questions were raised regarding the compensation of executive officers [12] Question: Were there any questions about the appointment of the independent registered public accounting firm? - No questions were raised regarding the appointment of the independent registered public accounting firm [13]

Financial Performance - For the three months ended March 31, 2025, the company recorded net income of $5.2 million, or $0.28 diluted earnings per share, compared to $1.3 million, or $0.07 diluted earnings per share for the same period in 2024, representing an increase of $3.8 million [149]. - Net interest income for the three months ended March 31, 2025 was $15.1 million, an increase of $2.3 million, or 18%, compared to $12.8 million for the same period in 2024 [150]. - Noninterest income increased to $671 thousand for the three months ended March 31, 2025, up $276 thousand, or 70%, from $395 thousand in the same period of 2024 [150]. - Commercial bank operating earnings for the three months ended March 31, 2025 were $5.2 million, an increase of $1.4 million, or 38%, from $3.7 million in 2024 [152]. - Diluted commercial bank operating earnings per share for the three months ended March 31, 2025 were $0.28, compared to $0.20 for the same period in 2024 [152]. - Net income for the three months ended March 31, 2025, was $5.165 million, a significant increase from $1.340 million in the same period of 2024, representing a growth of 285% [156]. - Non-GAAP commercial bank operating earnings for the same period increased to $5.165 million from $3.726 million, reflecting a growth of 39% [156]. - Earnings per share (EPS) on a diluted basis increased to $0.28 for Q1 2025, compared to $0.07 in Q1 2024, marking a growth of 300% [156]. Credit and Risk Management - Provision for credit losses for the three months ended March 31, 2025 was $200 thousand, compared to none for the same period in 2024 [150]. - The provision for credit losses was recorded at $200 thousand for Q1 2025, compared to $0 for Q1 2024, indicating a proactive approach to managing credit risk [172]. - The allowance for credit losses as a percentage of total loans was 0.98% at March 31, 2025, slightly up from 0.97% at December 31, 2024 [172]. - Nonperforming loans at March 31, 2025 totaled $10.7 million, or 0.48% of total assets, down from $12.8 million, or 0.58% at December 31, 2024 [173][193]. - The company had $4.6 million in loans identified as special mention at March 31, 2025, an increase of $1.3 million from December 31, 2024 [194]. - The company recorded annualized net recoveries of (0.03)% for the three months ended March 31, 2025, compared to (0.01)% for the same period in 2024 [196]. - Total nonperforming loans (NPLs) decreased to $10.747 billion at March 31, 2025, from $12.860 billion at December 31, 2024, representing a reduction of approximately 16.4% [198]. - The allowance for credit losses on loans to NPLs increased to 171.42% at March 31, 2025, compared to 140.97% at December 31, 2024, indicating a more conservative approach to credit risk management [198]. Asset and Liability Management - Average loans receivable increased by $25.7 million to $1.87 billion in Q1 2025, with the yield on average loans rising 19 basis points to 5.69% [165]. - Total average interest-bearing liabilities increased by $48.6 million to $1.58 billion in Q1 2025, while interest expense decreased by $530 thousand to $13.5 million [167]. - Average interest-earning assets increased by $69.8 million, or 3%, to $2.15 billion in Q1 2025 compared to Q1 2024 [164]. - The commercial real estate loan portfolio totaled $1.01 billion, accounting for 54% of total loans as of March 31, 2025, down from $1.04 billion or 56% at December 31, 2024 [198]. - Loans secured by retail properties amounted to $244.9 million, representing 13% of total loans at March 31, 2025 [198]. - The commercial real estate and construction loans, net of fees, totaled $1.175 billion at March 31, 2025, down from $1.200 billion at December 31, 2024 [201]. Deposits and Equity - Total deposits increased by $36.0 million, or 2%, to $1.91 billion at March 31, 2025, from $1.87 billion at December 31, 2024 [186]. - Noninterest-bearing demand deposits were $367.1 million at March 31, 2025, representing 19.3% of total deposits [224]. - Total shareholders' equity increased by $7.0 million to $242.3 million at March 31, 2025, with net income contributing $5.2 million to this increase [236]. - The estimated amount of total uninsured deposits was $777.9 million, or 41% of total deposits, as of March 31, 2025 [227]. - Time deposits increased by $26.8 million, or 11%, to $274.9 million at March 31, 2025, from $248.2 million at December 31, 2024 [224]. - Total stockholders' equity increased to $242.3 million in 2025 from $235.4 million in 2024, reflecting a growth of approximately 3.7% [245]. - Tangible Common Equity rose to $234.9 million in 2025, up from $227.9 million in 2024, indicating a growth of about 3.1% [245]. Investment Securities - The investment securities portfolio's fair value increased to $158.7 million at March 31, 2025, up by $2.2 million or 1% from $156.5 million at December 31, 2024 [216]. - The weighted average yield of total investment securities was 1.94% at March 31, 2025, compared to 1.92% at December 31, 2024 [223]. - The majority of the investment securities portfolio consists of securities rated AAA, indicating low investment risk [217]. - The effective duration of the investment securities portfolio is slightly over five years, which is within the industry average [217]. Liquidity Management - Liquid assets totaled $282.6 million as of March 31, 2025, representing 13% of total assets, an increase from $247.4 million (11% of total assets) at December 31, 2024 [249]. - The liquidity management program includes stress testing under various scenarios to ensure sufficient resources to meet liquidity needs [254]. - The Bank maintains secured lines of credit with the FRB and FHLB, allowing borrowing up to the allowable amount for the collateral pledged [248]. - The Bank has secured borrowings of $130 million from the FHLB, with a portion of the commercial real estate and residential loan portfolio pledged as collateral [252]. - Investment securities available-for-sale pledged as collateral for municipal deposits were $20.2 million at March 31, 2025, down from $55.1 million at December 31, 2024 [249].

FVCBankcorp (FVCB) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post earnings of $0.25 per share when it actually produced earnings of $0.26, delivering a surprise of 4%.Over the last four quarters, the company has surp ...

Exhibit 99.1 PRESS RELEASE For further information, contact: David W. Pijor, Esq., Chairman and Chief Executive Officer Phone: (703) 436-3802 Email: dpijor@fvcbank.com Patricia A. Ferrick, President Phone: (703) 436-3822 Email: pferrick@fvcbank.com FOR IMMEDIATE RELEASE – April 22, 2025 FVCBankcorp, Inc. Announces First Quarter 2025 Earnings; Fifth Consecutive Quarter of Improved Profitability and Margin Fairfax, VA-FVCBankcorp, Inc. (NASDAQ: FVCB) (the "Company") today reported its financial results for th ...

Financial Performance - Net income for 2024 was $15.1 million, a significant increase from $3.8 million in 2023, with commercial bank operating earnings rising to $17.4 million from $16.3 million[222]. - Net income for 2024 was $15.1 million, or $0.82 per diluted common share, compared to $3.8 million, or $0.21 per diluted common share in 2023[229]. - Return on average assets improved to 0.69% for 2024, up from 0.17% in 2023, and return on average equity increased to 6.64% from 1.82%[224]. - Noninterest income for 2024 was $2.5 million, a recovery from a loss of $13.4 million in 2023, primarily due to prior year losses on securities[222]. - Noninterest income for 2024 was $2.5 million, a significant recovery from a loss of $13.4 million in 2023, primarily due to previous losses on available-for-sale securities[230]. - Total noninterest income for the year ended December 31, 2024 was $2.5 million, compared to a loss of $13.4 million for the same period in 2023, marking a significant recovery[256]. Asset and Loan Growth - Total assets increased to $2.20 billion, up $8.4 million from December 31, 2023[222]. - Total loans increased by $41.7 million, or 2%, with nonperforming loans at 0.58% of total assets as of December 31, 2024, compared to 0.08% in 2023[222]. - Loans receivable increased by $41.7 million, or 2%, to $1.87 billion at December 31, 2024, from $1.83 billion at December 31, 2023[267]. - Average loans receivable increased by $21.2 million to $1.87 billion for the year ended December 31, 2024, with the yield on average loans rising 39 basis points to 5.71%[242]. - Commercial and industrial loans increased by $116.8 million, or 53%, to $336.7 million at December 31, 2024, from $219.9 million at December 31, 2023[269]. Interest Income and Expense - Net interest income rose by $1.2 million, or 2%, to $55.6 million, with a net interest margin of 2.62%, an increase of 13 basis points from 2023[222]. - Net interest income increased by $1.2 million to $55.6 million in 2024, up from $54.4 million in 2023[230]. - Total interest income rose by $6.7 million, or 6%, to $113.3 million for the year ended December 31, 2024, compared to $106.6 million for 2023[241]. - Interest income on loans increased by $8.3 million, while interest expense on deposits rose by $5.9 million in 2024 compared to 2023[222]. Noninterest Expense and Efficiency - Noninterest expense decreased by $842 thousand, or 2%, to $35.8 million, attributed to reduced staffing and process improvements[222]. - Noninterest expense decreased by $842 thousand, or 2%, to $35.8 million in 2024, driven by a reduction in salaries and benefits[231]. - Total noninterest expense decreased by $1.0 million, or 2.7%, to $35.8 million in 2024 from $36.7 million in 2023[262]. - Salaries and employee benefits expense decreased by $1.9 million, or 9.2%, to $18.8 million in 2024 compared to $20.6 million in 2023, primarily due to reduced staffing[263]. - The efficiency ratio improved significantly to 61.63% in 2024 from 89.36% in 2023[227]. Credit Quality - The provision for credit losses was $6 thousand in 2024, down from $132 thousand in 2023, reflecting improved credit quality[222]. - Nonperforming loans totaled $12.9 million, or 0.58% of total assets, at December 31, 2024, compared to $1.8 million, or 0.08%, at December 31, 2023[251]. - The allowance for credit losses was $18.1 million at December 31, 2024, down from $18.9 million at December 31, 2023, with the allowance as a percent of total loans at 0.97%[250]. - The allowance for credit losses on loans was $18.129 million as of December 31, 2024, compared to $18.871 million in 2023, indicating a reduction of 3.9%[295]. - The net charge-offs for the total loan portfolio in 2024 were $840 thousand, with a percentage of net charge-offs to average loans outstanding during the year at 0.04%[293]. Deposits and Equity - Total deposits grew to $1,870,605 thousand in 2024, compared to $1,845,292 thousand in 2023[227]. - Total deposits increased by $25.3 million, or 1%, to $1.87 billion at December 31, 2024, from $1.85 billion at December 31, 2023[265]. - Total shareholders' equity increased by $18.2 million to $235.4 million at December 31, 2024, with net income contributing $15.1 million to this increase[318]. - The common equity tier 1 capital ratio was 13.74% at December 31, 2024, exceeding the minimum requirement of 7.00%[324]. - Estimated total uninsured deposits were $763.1 million, or 40.8% of total deposits, at December 31, 2024[309]. Investment Securities - The fair value of investment securities available-for-sale decreased by $15.1 million, or 9%, from $170.6 million in 2023 to $156.5 million in 2024[297]. - The investment securities portfolio primarily consists of AAA-rated securities, indicating a low degree of investment risk[298]. - The effective duration of the investment securities portfolio is slightly over five years, aligning with the industry average[298]. - Average investment securities decreased by $79.0 million to $208.4 million for the year ended December 31, 2024, with the yield on these securities increasing 14 basis points to 2.09%[243]. Liquidity and Funding - Liquid assets totaled $247.4 million at December 31, 2024, representing 11% of total assets, an increase from $232.1 million at December 31, 2023[330]. - The Bank has secured borrowings of $130 million from the FHLB as of December 31, 2024[333]. - The Bank maintains a liquidity contingency plan and stress tests its liquidity position under various scenarios[334]. - The Bank's liquidity could be impaired by market disruptions or unforeseen cash outflows, but it currently believes it has a healthy liquidity position[335]. - The maximum exposure to credit loss from off-balance-sheet financial instruments is represented by the contractual amounts of those instruments[338].

Core Viewpoint - FVCBankcorp reported quarterly earnings of $0.26 per share, exceeding the Zacks Consensus Estimate of $0.25 per share, and showing an increase from $0.21 per share a year ago, indicating a positive earnings surprise of 4% [1][2] Financial Performance - The company posted revenues of $15.37 million for the quarter ended December 2024, which was below the Zacks Consensus Estimate by 0.74%, and a significant increase from $2.8 million in the same quarter last year [2] - Over the last four quarters, FVCBankcorp has surpassed consensus EPS estimates three times, but has only topped consensus revenue estimates once [2] Stock Performance - FVCBankcorp shares have declined approximately 7.7% since the beginning of the year, contrasting with the S&P 500's gain of 3.5% [3] - The current Zacks Rank for FVCBankcorp is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.24 on revenues of $15.54 million, and for the current fiscal year, it is $1.06 on revenues of $65.51 million [7] - The trend of estimate revisions for FVCBankcorp is mixed, which could change following the recent earnings report [6] Industry Context - The Banks - Southeast industry, to which FVCBankcorp belongs, is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8]

Financial Performance - For Q4 2024, the company reported net income of $4.9 million, or $0.26 diluted earnings per share, compared to a net loss of $5.1 million, or $0.28 diluted loss per share in Q4 2023[5]. - For the full year 2024, net income increased to $15.1 million, or $0.82 diluted earnings per share, up from $3.8 million, or $0.21 diluted earnings per share in 2023, representing an increase of $11.2 million[6]. - The company recorded net income of $4.9 million for Q4 2024, a significant improvement from a loss of $5.1 million in Q4 2023, representing a turnaround of $10 million year-over-year[25]. - Net income for the year ended December 31, 2024, was $15.1 million, compared to $3.8 million in 2023[46]. - The company reported a net income of $15,064 million for the year ended December 31, 2024, a 294.1% increase compared to $3,822 million in the previous year[54]. Interest Income and Expenses - Net interest income for Q4 2024 rose by $2.3 million, or 18%, to $14.9 million, with a net interest margin improvement of 40 basis points, or 17%, to 2.77% compared to Q4 2023[6]. - Net interest income increased by $2.3 million, or 18%, to $14.9 million for Q4 2024 compared to $12.7 million in Q4 2023, primarily due to higher loan interest income[26]. - Interest income for Q4 2024 increased by $2.6 million, or 10%, to $29.3 million compared to Q4 2023, driven by an 11% increase in loan interest income[28]. - For the twelve months ended December 31, 2024, net interest income was $55.6 million, a 2% increase from $54.4 million in 2023[31]. - For the year ended December 31, 2024, net interest income was $55,589 million, a 2.2% increase from the previous year[54]. Asset and Loan Growth - Total assets increased to $2.20 billion at December 31, 2024, up from $2.19 billion at December 31, 2023, reflecting an increase of $8.4 million[11]. - Loans receivable increased by $41.7 million, or 2%, to $1.87 billion at December 31, 2024, with loan originations totaling $36.5 million at a weighted average rate of 7.84%[12]. - Total assets as of December 31, 2024, were $2.20 billion, slightly up from $2.19 billion at the end of 2023[46]. - For the three months ended December 31, 2024, total loans amounted to $1,875,328 thousand, generating interest income of $27,516 thousand with a yield of 5.87%[56]. Deposits and Equity - Total deposits rose to $1.87 billion at December 31, 2024, an increase of $25.3 million from the previous year, with noninterest-bearing deposits decreasing by $31.1 million[14]. - Shareholders' equity increased by $18.2 million, or 8%, to $235.4 million at December 31, 2024, driven by earnings and stock options exercised[16]. - Shareholders' equity increased by 2.0% to $235,354,000 compared to the previous quarter[49]. Noninterest Income and Expenses - Noninterest income for Q4 2024 totaled $452 thousand, a recovery from a loss of $9.9 million in Q4 2023[32]. - For the year ended December 31, 2024, noninterest income was $2.5 million, a significant recovery from a loss of $13.4 million in 2023[34]. - Noninterest expense for Q4 2024 totaled $9.0 million, a decrease of $400 thousand, or 4%, from $9.4 million in Q4 2023[35]. - For the year ended December 31, 2024, noninterest expense was $35.8 million, a decrease of $842 thousand, or 2%, from $36.7 million in 2023[37]. Credit Quality - The allowance for credit losses decreased to $18.1 million at December 31, 2024, with the ACL to total loans ratio at 0.97%[19]. - Nonaccrual loans totaled $12.8 million, or 0.58% of total assets, at December 31, 2024, compared to $1.8 million, or 0.08% of total assets, at the end of 2023[20]. - The provision for credit losses for the year ended December 31, 2024, was $6 million, a 95.5% decrease from $132 million in the previous year[54]. Efficiency and Ratios - The efficiency ratio for core bank operating earnings was 58.6% in Q4 2024, improving from 65.8% in Q4 2023[38]. - Adjusted Return on average assets increased to 0.90% from 0.68% year-over-year[47]. - The adjusted efficiency ratio (non-GAAP) improved to 61.63% for the year ended December 31, 2024, from 63.97% in the previous year[55].

Financial Performance - Net income for the three months ended September 30, 2024, was $4.7 million, an increase of 16% from $4.0 million in the same period of 2023 [171]. - For the nine months ended September 30, 2024, net income was $10.2 million, compared to $8.9 million for the same period in 2023 [173]. - Commercial bank operating earnings for the three months ended September 30, 2024, were $4.7 million, compared to $4.0 million for the same period in 2023 [175]. - Diluted commercial bank operating earnings per share for the three months ended September 30, 2024, were $0.25, up from $0.22 in the same period of 2023 [177]. - Noninterest income for the three months ended September 30, 2024, was $815 thousand, up from $225 thousand in the same period of 2023 [171]. - Noninterest income for the nine months ended September 30, 2024, was $84.032 million, with an average yield of 5.29% [192]. Interest Income and Expenses - Net interest income increased by $878 thousand, or 7%, to $14.2 million for the three months ended September 30, 2024, compared to $13.3 million for the same period in 2023 [171]. - Interest income from loans totaled $27,381 thousand in Q3 2024, up from $25,243 thousand in Q3 2023, marking an increase of 8.5% [184]. - Interest expense on total interest-bearing deposits was $14,199 thousand in Q3 2024, compared to $13,799 thousand in Q3 2023, an increase of 2.9% [184]. - Net interest income for the nine months ended September 30, 2024, was $40.7 million, a decrease of $1.1 million, or 3%, compared to $41.7 million for the same period in 2023 [198]. - The net interest margin increased by 25 basis points to 2.64% for Q3 2024, compared to 2.39% in Q3 2023 [190]. Credit Losses and Allowance - The allowance for credit losses (ACL) is maintained at a level representing management's best estimate of expected losses in the loan portfolio, with minimal loss history since the bank's inception in 2007 [156]. - The company adopted the current expected credit losses (CECL) accounting standard as of January 1, 2023, impacting retained earnings and the allowance for credit losses [153]. - Provision for credit losses for the nine months ended September 30, 2024, was $6 thousand, compared to $132 thousand for the same period in 2023 [174]. - The total allowance for credit losses on loans was $19.067 million as of September 30, 2024, compared to $18.871 million at December 31, 2023 [245]. Asset and Loan Growth - Total loans increased to $1,879,152 thousand in Q3 2024, up from $1,868,819 thousand in Q3 2023, reflecting a growth of 0.6% [184]. - Loans receivable increased by $46.4 million, or 3%, to $1.87 billion at September 30, 2024, from $1.83 billion at December 31, 2023 [222]. - The commercial real estate loan portfolio totaled $1.06 billion, or 57% of total loans, at September 30, 2024, compared to $1.09 billion, or 60% of total loans, at December 31, 2023 [233]. Risk Management - The company emphasizes the importance of managing interest rate risk and credit risk to stabilize net interest income, which is its primary source of revenue [150]. - The company has a proactive approach to managing risks inherent in its real estate loan portfolio, particularly in light of potential downturns in the real estate market [143]. - The company maintains a conservative approach to risk management, adjusting expected losses based on risk ratings to mitigate potential credit risks [239]. Deposits and Funding - Total deposits rose by 6%, or $115.5 million, to $1.96 billion at September 30, 2024, compared to $1.85 billion at December 31, 2023 [221]. - Non-interest-bearing deposits were $357.0 million at September 30, 2024, representing 18% of total deposits [254]. - Wholesale deposits were $249.9 million at September 30, 2024, an increase of $4.6 million, or 2%, from $245.3 million at December 31, 2023 [255]. Nonperforming Loans and Assets - Nonperforming loans at September 30, 2024, totaled $3.6 million, or 0.16% of total assets, compared to $1.8 million, or 0.08%, of total assets at December 31, 2023 [207]. - Total nonperforming loans (NPLs) increased to $3,556,000 at September 30, 2024, up from $1,829,000 at December 31, 2023, representing a growth of 94.5% [233]. - The ratio of NPLs to total assets increased to 0.16% at September 30, 2024, from 0.08% at December 31, 2023 [233]. Capital and Liquidity - Shareholders' equity increased by $13.7 million to $230.8 million at September 30, 2024, with net income contributing $10.2 million to this increase [262]. - The common equity Tier 1 (CET1) capital ratio was 13.48% at September 30, 2024, exceeding the minimum requirement of 7.00% [269]. - Liquid assets totaled $342.7 million, or 15% of total assets, at September 30, 2024, up from $232.1 million, or 11% of total assets, at December 31, 2023 [274].

Company Performance - FVCBankcorp reported quarterly earnings of $0.25 per share, exceeding the Zacks Consensus Estimate of $0.24 per share, and up from $0.22 per share a year ago, representing an earnings surprise of 4.17% [1] - The company posted revenues of $15.03 million for the quarter ended September 2024, which missed the Zacks Consensus Estimate by 0.27%, compared to $13.56 million in the same quarter last year [1] - Over the last four quarters, FVCBankcorp has surpassed consensus EPS estimates three times but has only topped consensus revenue estimates once [1] Market Comparison - FVCBankcorp shares have declined approximately 10.9% since the beginning of the year, while the S&P 500 has gained 22.7% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.25 on revenues of $15.48 million, and for the current fiscal year, it is $0.92 on revenues of $58.28 million [4] - The estimate revisions trend for FVCBankcorp is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [4] Industry Context - The Banks - Southeast industry, to which FVCBankcorp belongs, is currently ranked in the bottom 29% of over 250 Zacks industries, suggesting potential challenges ahead [5] - Stock Yards Bancorp, another company in the same industry, is expected to report quarterly earnings of $0.93 per share, reflecting a year-over-year change of +1.1%, with revenues anticipated to be $87.57 million, up 3.8% from the previous year [5]

Financial Performance - Net income for Q3 2024 increased 16% year-over-year to $4.7 million, or $0.25 diluted earnings per share, compared to $4.0 million, or $0.22 diluted earnings per share in Q3 2023[3]. - The company recorded net income of $4.7 million for Q3 2024, an increase of $630 thousand, or 16%, compared to $4.0 million for Q3 2023[22]. - Net income for the three months ended September 30, 2024, was $4,669, an increase from $4,039, marking a growth of 15.6%[41]. - Net income for the nine months ended September 30, 2024, was $10,164, representing a 14.3% increase from the same period in 2023[49]. - GAAP net income for the current period is $10,164 million, compared to $8,892 million in the previous period, reflecting a significant increase[51]. Asset and Deposit Growth - Total assets increased by $102.7 million, or 5%, to $2.29 billion at September 30, 2024, from $2.19 billion at December 31, 2023[8]. - Total deposits rose by $115.5 million, or 6%, to $1.96 billion at September 30, 2024, compared to $1.85 billion at December 31, 2023[11]. - Total assets as of September 30, 2024, were $2,293,282, a slight decrease from $2,305,472 in the same period last year[41]. - Total deposits decreased to $1,960,767 from $1,995,971, a decline of 1.8% compared to the previous year[41]. - Total deposits decreased to $1,855,513 million from $2,033,941 million, a decline of 8.8% year-over-year[42]. Loan Performance - Loans receivable, net of deferred fees, were $1.87 billion at September 30, 2024, reflecting a year-to-date increase of $46.4 million, or 2.5%[9]. - Classified loans decreased by $19.9 million, or 86%, to $3.2 million at September 30, 2024, compared to the prior quarter[16]. - Commercial real estate loans totaled $1.06 billion, or 57% of total loans, net of fees, at September 30, 2024[17]. - Total loans, net of deferred fees, increased to $1,874,946 from $1,849,513 year-over-year, reflecting a growth of 1.4%[41]. - Total loans amount to $1,879,152 million, with interest income of $27,381 million and an average yield of 5.83%[53]. Interest Income and Margin - Net interest margin improved by 25 basis points, or 10%, to 2.64% in Q3 2024 compared to 2.39% in Q3 2023[3]. - Net interest income increased by $879 thousand, or 7%, to $14.2 million for Q3 2024 compared to $13.3 million for Q3 2023[22]. - The company's net interest margin increased by 25 basis points to 2.64% for Q3 2024 compared to 2.39% for Q3 2023[23]. - Interest income increased by $1.8 million, or 7%, to $29.2 million for Q3 2024 compared to Q3 2023[24]. - Net interest margin for the period was 2.57%, compared to 2.53% in the previous year[54]. Efficiency and Expenses - Noninterest expense totaled $9.2 million for Q3 2024, an increase of $148 thousand, or 2%, compared to Q3 2023[32]. - The efficiency ratio for core bank operating earnings for Q3 2024 was 61.2%, compared to 66.7% for Q3 2023[34]. - Total noninterest expense for the nine months ended September 30, 2024, was $26,817, a 1.6% decrease from the same period in 2023[49]. - Noninterest income for the three months ended September 30, 2024, totaled $815 thousand, compared to $225 thousand for the same period in 2023[29]. - The Efficiency Ratio improved to 8.15%, compared to 7.57% in the previous year, showing enhanced operational efficiency[42]. Shareholder Equity - Shareholders' equity increased by $13.7 million, or 6%, to $230.8 million at September 30, 2024, driven by year-to-date earnings of $10.2 million[13]. - Book value per share increased to $12.68 from $11.87, indicating a positive trend in shareholder equity[41]. - Shareholders' equity increased to $229,162 million from $223,914 million in the previous period[53]. - Tangible Common Equity excluding AOCI was $246,094 million, up from $238,448 million, reflecting a growth of 3.5%[42]. - Shareholders' equity increased to $224,391 million, up from $208,804 million year-over-year[54].