Brief: Fvcbankcorp Restructured A Portion Of Its Investment Portfolio By Selling $61.4 Mln Of Book Value Available For Sale Securities

FVCBankcorp

11/12/2023 22:40

Dec 11 (Reuters) - FVCBankcorp Inc  FVCB.O :
    * FVCBANKCORP INC: RESTRUCTURED A PORTION OF ITS INVESTMENT
PORTFOLIO BY SELLING $61.4 MILLION OF BOOK VALUE AVAILABLE FOR
SALE SECURITIES
    * FVCBANKCORP INC: RESTRUCTURING RESULTED IN AN AFTER-TAX
LOSS OF
$8.5 MILLION, WHICH WILL BE RECORDED DURING Q4 OF 2023
    * FVCBANKCORP INC: BALANCE SHEET RE-POSITIONING IS EXPECTED
TO BE
ACCRETIVE TO NET INTEREST INCOME, NIM, RETURN ON AVERAGE ASSETS
IN FUTURE PERIODS

Further company coverage:  FVCB.O 

 ((Reuters.Briefs@thomsonreuters.com;))