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PRESS RELEASE FOR IMMEDIATE RELEASE - July 29 , 2021 FVCBankcorp , Inc. Announces Exhibit 99.1 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 Second Quarter 2021 Earnings and Record Quarterly Loan Growth Fairfax , VA - FVCBankcorp , Inc. ( NASDAQ : FVCB ) ( the " Company " ) today reported second quarter 2021 net income of $ 5.2 million , or $ 0.36 diluted earnings per share , compared to $ 2.9 million , or $ 0.21 diluted earnings per share , for the quarterly period ended June 30 , 2020 , an increase of 79 % . Net revenues , which include net interest income plus noninterest income , for the three months ended June 30 , 2021 were $ 14.9 million , an increase of $ 1.5 million , from $ 13.4 million for the year ago quarter ended June 30 , 2020 . For the six months ended June 30 , 2021 , the Company reported net income of $ 10.7 million , or $ 0.74 diluted earnings per share , compared to $ 6.6 million or $ 0.46 diluted earnings per share , for the same period of 2020 , a year - over - year increase of $ 4.1 million , or 62 % . Net income for the six months ended June 30 , 2020 included elevated loan loss provisioning of $ 2.8 million and $ 676 thousand in one - time branch closure costs . Net revenues for the six months ended June 30 , 2021 were $ 29.7 million , an increase of $ 3.4 million , from $ 26.3 million for the six months ended June 30 , 2020 . For the three months ended June 30 , 2021 and 2020 , pre - tax pre - provision income ( which excludes branch closure costs recorded during 2020 ) was $ 6.6 million and $ 6.1 million , respectively , an increase of $ 583 thousand or 10 % . On a linked quarter basis , pre - tax pre - provision income was $ 7.0 million for the three months ended March 31 , 2021. The decrease on a linked quarter basis was a result of an increase in noninterest expense during the second quarter of 2021 , which is more fully discussed below . Pre - tax pre - provision annualized return on average assets for the three months ended June 30 , 2021 and 2020 was 1.36 % and 1.41 % , respectively . For the six months ended June 30 , 2021 and 2020 , pre - tax pre - provision income ( which excludes branch closure costs recorded during 2020 ) was $ 13.6 million and $ 11.8 million , respectively , an increase of $ 1.8 million , or 16 % . Pre - tax pre - provision annualized return on average assets for the six months ended June 30 , 2021 and 2020 was 1.43 % and 1.44 % , respectively . The Company believes the reporting of non - generally accepted accounting principles ( " non - GAAP ” ) pre - tax pre- provision earnings to exclude branch closing impairment charges taken during 2020 are more reflective of the Company's operating performance . A reconciliation of pre - tax pre - provision income can be found in the tables below . Annualized return on average assets was 1.06 % and annualized return on average equity was 10.41 % for the second quarter of 2021. For the comparable quarterly June 30 , 2020 period , annualized return on average assets was 0.67 % and annualized return on average equity was 6.41 % . For the year - to - date June 30 , 2021 period , annualized return on average assets was 1.13 % and annualized return on average equity was 10.96 % compared to annualized return on average assets of 0.81 % and annualized return on average equity of 7.35 % for the six months ended June 30 , 2020 .