Ending 2014 with improved assets and stellar loan growth
For Immediate Release — May 05, 2014
SPRINGFIELD, Va. – FVCbank, one of the fastest-growing companies in Virginia, celebrated the grand opening of its new central Springfield, Va. location. The branch enhances FVCbank’s presence in Virginia, which is home to four other branches.
About 150 people joined in the weekend-long festivities to welcome the new Springfield team at the branch, located at 6975 Springfield Blvd. Among those in attendance – FVCbank executive leadership, branch staff, community members and local business leaders – included Lee District Supervisor Jeff McKay and Delegate Dave Albo (R-Springfield).
“FVCbank is excited to continue the momentum behind the company’s success and growth,” said David Pijor, president and CEO of FVCbank. “The opening of our newest branch in Springfield, Virginia, improved earnings over the last year and growth of our customer deposit base are just a few indicators that FVCbank is continuing to strengthen and improve.”
For the 2013 year, the Bank earned a net profit of $2.2 million, or $0.48 diluted earnings per share compared with $1.5 million, or $0.43 for 2012, an increase of $749,918 or 50.7%. The improved earnings were primarily attributable to our loan growth, which was funded by our growing customer deposit base.