FVCBankcorp, Inc. Announces Five-for-Four Common Stock Split
15 Dezembro 2022 - 6:00PM
Business Wire
FVCBankcorp, Inc. (NASDAQ: FVCB) (the “Company”) announced today
that its Board of Directors approved a five-for-four split of the
Company's common stock in the form of a 25 percent stock dividend
for shareholders of record on January 9, 2023, payable on January
31, 2023.
“We are delighted to show our appreciation to our shareholders
through this stock dividend,” stated David W. Pijor, Chairman and
CEO of the Company. “The Board’s decision to split the stock
demonstrates confidence that we will continue to deliver solid
results and generate significant value for our shareholders.”
Each shareholder of record, as of 5 p.m. Eastern Time on January
9, 2023, shall receive an additional one-quarter (.25) share for
each share of common stock held. The payment date for the new
shares will be completed to shareholders on January 31, 2023.
Following the split, the Company’s outstanding shares will increase
from approximately 14.0 million to 17.5 million.
About FVCBankcorp, Inc. FVCBankcorp, Inc. is the holding
company for FVCbank, a wholly-owned subsidiary that commenced
operations in November 2007. FVCbank is a $2.20 billion asset-sized
Virginia-chartered community bank serving the banking needs of
commercial businesses, nonprofit organizations, professional
service entities, their owners and employees located in the greater
Baltimore and Washington D.C., metropolitan areas. FVCbank is based
in Fairfax, Virginia, and has 9 full-service offices in Arlington,
Fairfax, Manassas, Reston and Springfield, Virginia, Washington
D.C., and Baltimore, Bethesda, and Rockville, Maryland.
For more information on the Company’s selected financial
information, please visit the Investor Relations page of
FVCBankcorp, Inc.’s website, www.fvcbank.com.
Caution about Forward-Looking Statements This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
statements include, but are not limited, statements of goals,
intentions, and expectations as to future trends, plans, events or
results of the Company’s operations and policies and regarding
general economic conditions. In some cases, forward-looking
statements can be identified by use of words such as “may,” “will,”
“anticipates,” “believes,” “expects,” “plans,” “estimates,”
“potential,” “continue,” “should,” and similar words or phrases.
These statements are based upon current and anticipated economic
conditions, nationally and in the Company’s market, interest rates
and interest rate policy, competitive factors, and other conditions
which by their nature, are not susceptible to accurate forecast and
are subject to significant uncertainty. Because of these
uncertainties and the assumptions on which this discussion and the
forward-looking statements are based, actual future operations and
results in the future may differ materially from those indicated
herein. These forward-looking statements are based on current
beliefs that involve significant risks, uncertainties, and
assumptions. Factors that could cause the Company’s actual results
to differ materially from those indicated in these forward-looking
statements, include, but are not limited to: the impact of the
COVID-19 pandemic and associated efforts to limit the spread of the
virus; general business and economic conditions nationally or in
the markets that the Company serves; changes in the level of the
Company’s nonperforming assets and charge-offs; changes in the
assumptions underlying the establishment of reserves for possible
loan losses; the Company’s management of risks inherent in its real
estate loan portfolio, and the risk of a prolonged downturn in the
real estate market, which could impair the value of the Company’s
collateral and the ability to sell collateral upon any foreclosure;
credit risk, market risk, and liquidity risk affecting the
Company’s securities portfolio, as well as changes in the estimates
used to value the securities in the portfolio; geopolitical
conditions, including acts or threats of terrorism, or actions
taken by the United States or other governments in response to acts
or threats of terrorism and/or military conflicts, which could
impact business and economic conditions in the United States and
abroad; the effects of, and changes in, trade, monetary and fiscal
policies and laws, including interest rate policies of the Board of
Governors of the Federal Reserve System, inflation, interest rate,
market and monetary fluctuations; the impact of changes in
financial services policies, laws and regulations, including laws,
regulations and policies concerning taxes, banking, securities and
insurance, and the application thereof by regulatory bodies;
technological changes, including potential exposure to fraud,
negligence, computer theft and cyber-crime; and the risk factors
and other cautionary language included in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2021 and in
other periodic and current reports filed with the Securities and
Exchange Commission. Because of these uncertainties and the
assumptions on which the forward-looking statements are based,
actual operations and results in the future may differ materially
from those indicated herein. Readers are cautioned against placing
undue reliance on any such forward-looking statements. The
Company’s past results are not necessarily indicative of future
performance.
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version on businesswire.com: https://www.businesswire.com/news/home/20221215005897/en/
For further information: 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
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