COMMUNITY
FOCUS
2020 Annual Report
I
2020 Annual Report Our focus has been on serving as a source of support
for our communities, especially given the uncertainty
and challenges of the past year. We are pleased to
have served an especially critical role in supporting our
customers and the cities, towns and neighborhoods that
they constitute. Our communities remain our top priority.
– David W. Pijor, chairman and CEO of FVCB and FVCbank
TO OUR SHAREHOLDERS
2020 was a year of strong growth for FVCBankcorp, Inc. despite the challenging head winds we faced
due to the pandemic and resulting recession. At the start of the pandemic, we focused our efforts
to working with our customers helping them survive various pandemic shutdowns by deferring
loan payments to those who requested assistance. We also originated over 775 paycheck protection
program (“PPP”) loans to help customers weather the downturn. As core organic loan growth slowed
in our markets, deposit growth drove the Bank’s balance sheet growth both through the acquisition
of new customers, primarily as we assisted them in receiving PPP loans, and increases in our existing
customers’ deposit levels, which enhance our market share and franchise value.
Despite the obstacles we faced during 2020, our earnings remain strong. We recorded consolidated
net income of $15.5 million, or $1.10 diluted earnings per share, for the year ended December 31, 2020,
compared to $15.8 million, or $1.07 diluted earnings per share, for the same period of 2019. During
2020, we closed two branch office locations, as more clients transitioned to our electronic banking
products, reducing the need to have physical branch locations to serve our customers. The operating
leases and leasehold improvements written off as a result of closing these locations totaled $676
thousand pre-tax ($534 thousand after tax). Operating earnings, which exclude the branch closure
costs we incurred, for the year ended December 31, 2020 was $15.9 million, or $1.13 diluted earnings
per share. Our financial results for 2020 were also impacted by elevated provision for loan losses, as
provision for loan losses increased to $5.0 million for the year ended December 31, 2020 compared to
$1.7 million for the same period of 2019.
For the years ended December 31, 2020 and 2019, return on average assets was 0.91% and
1.09%, respectively, with our return on average equity for those same periods showing 8.48%
and 9.32%, respectively.
Selected Highlights
•
•
Increased Pre-Tax Pre-Provision Income. For the year ended December 31, 2020 and 2019,
pre-tax pre-provision income (which excludes branch closure costs and gains on sales of securities)
was $25.2 million and $21.7 million, respectively, an increase of $3.5 million or 16%. Pre-tax
pre-provision annualized return on average assets for the year ended December 31, 2020 and
2019 were 1.48% and 1.50%, respectively.
Strong Core Deposit Growth. Core deposits, which exclude wholesale deposits, increased
$296.8 million to $1.48 billion at December 31, 2020, an increase of 25%, from December
31, 2019. Noninterest-bearing deposits represent 27% of core deposits at December 31, 2020.
• Reduced Levels of Past Due and Nonperforming loans. Loans past due 90 days or more and
still accruing totaled $272 thousand at December 31, 2020, compared to $1.0 million at December 31,
2019. Nonperforming loans and loans past due 90 days or more and still accruing were $5.6 million,
or 0.31% of total assets, at December 31, 2020, compared to $10.7 million, or 0.70% of total assets,
at December 31, 2019.
•
Improved Efficiency Ratio. For the year ended December 31, 2020, the Company’s efficiency
ratio improved to 55.6% from 56.9% for the year ended December 31, 2019.
Balance Sheet
Total assets increased to $1.82 billion at December 31, 2020 compared to $1.54 billion at December 31,
2019, an increase of $284.2 million, or 19%.
Loans receivable, net of deferred fees, totaled $1.47 billion at December 31, 2020, compared to $1.27
billion at December 31, 2019, an increase of $195.6 million, or 15%. PPP loans originated and funded,
net of fees, totaled $153.0 million at December 31, 2020, a decrease from $173.0 million earlier in 2020
as we started to record loan forgiveness prior to year-end. For the full year 2020, net loan growth,
excluding PPP loans, was $42.6 million, or 3%.
Total deposits increased to $1.53 billion at December 31, 2020 compared to $1.29 billion at December
31, 2019, an increase of $246.8 million, or 19%. Core deposits increased $296.8 million, or 25%, to $1.48
billion at December 31, 2020 compared to $1.19 billion at December 31, 2019. The increase in core deposits
reflects new customer relationships as well as growth in existing customer accounts and, to a lesser
extent, deposits remaining from PPP funds. Wholesale deposits totaled $50.0 million, or 3% of total
deposits at December 31, 2020, a decrease of $50.0 million from December 31, 2019. Noninterest-bearing
deposits increased $92.8 million, or 30%, to $399.1 million at December 31, 2020 from $306.2 million at
December 31, 2019, and represented 26% of total deposits, or 27% of core deposits, at December 31, 2020.
Our bank subsidiary, FVCbank, remains well-capitalized at December 31, 2020 with a community bank
leverage ratio of 11.62%. During the fourth quarter of 2020, we completed a private placement of $20
million of our 4.875% Fixed to Floating Subordinated Notes due in 2030 (the “Notes”). The Notes
have a maturity date of October 15, 2030 and carry a fixed rate of interest of 4.875% for the first five
years, and revert to a variable interest rate thereafter. The Notes have been structured to qualify as
Tier 2 capital for regulatory purposes. We have used the proceeds from the placement of the Notes
for general corporate purposes, to include supporting capital ratios at FVCbank.
Income Statement
For the year ended December 31, 2020, net income was $15.5 million, compared to $15.8 million for
the same period of 2019. For the year ended December 31, 2020 and 2019, net interest income was
$52.6 million and $48.1 million, respectively, an increase of $4.6 million or 9%, year-over-year. Our net
interest margin for the year ended December 31, 2020 and 2019 was 3.28% and 3.48%, respectively,
impacted by the decreases in the targeted fed funds rate of 150 basis points during March 2020. The
average yield for the loan portfolio for the year ended 2020 was 4.46%, which includes low-yielding
PPP loans originated during 2020, compared to 5.16% a year ago. However, the decrease in loan yields
was offset by the decrease in the cost of interest-bearing deposits for 2020 which was 1.18%, compared
to 1.77% for 2019, a decrease of 59 basis points, or 33%, primarily a result of our efforts to aggressively
decrease deposit rates during 2020 in response to the rate cuts that occurred during March 2020.
Noninterest income for the year ended December 31, 2020 was $2.9 million, compared to $2.5 million
for the year ended December 31, 2019, an increase of $345 thousand, or 14%, which was primarily
driven by an increase in service charges on deposit accounts and other fee income, and income
from bank-owned life insurance.
Noninterest expense totaled $30.8 million for the year ended December 31, 2020, compared to
$28.9 million for the same period of 2019, an increase of $2.0 million, or 7%. The increase in noninterest
expense compared to the year ago quarter was primarily related to an increase in data processing
and network administration expense related to planned network infrastructure upgrades during 2020,
an increase in loan related expenses, and an increase in FDIC insurance (a result of assessment credits
expiring in 2019). For the year ended December 31, 2020 and 2019, noninterest expense, excluding
branch closure charges, was $30.2 million and $28.9 million, respectively, an increase of $1.3 million,
or 5%, which was less than our targeted expense growth for 2020.
Asset Quality
We recorded a provision for loan losses of $5.0 million for the year ended December 31, 2020,
compared to $1.7 million for 2019. We are not required to implement the provisions of the current
expected credit losses (“CECL”) accounting standard until January 1, 2023 and are continuing to account
for the allowance for loans losses under the incurred loss model. The increase in the provision for loan
losses for the year ended December 31, 2020 is primarily related to growth in the loan portfolio and
increases in qualitative factors related to the economic uncertainties caused by the COVID-19 pandemic,
including an increase in specific reserves.
The allowance for loan losses to total loans, excluding PPP loans, was 1.14% at December 31, 2020,
compared to 0.81% at December 31, 2019. The effective reserve coverage, which includes both the
allowance for loan losses and the remaining unaccreted fair value discount on acquired loans, to
total loans, excluding PPP loans, was 1.27% at December 31, 2020. Net charge-offs of $290 thousand,
or 0.02% of average loans, were recorded during 2020 and were primarily related to purchased
consumer unsecured loans.
While 2020 was a challenging year, we achieved record quarterly earnings during the fourth quarter
of 2020, and we are pleased with ultimately matching operating earnings in 2020 as compared to 2019.
We will continue to work with our customers and assist the needs of our community as we persist
through this pandemic and recovering economy.
On behalf of your Board of Directors and employees, we thank you for your continued support as
together we address the challenges brought on by the COVID 19 pandemic. We are grateful to our
team of bankers that provide excellent personalized service to our customers. We are proud to be
part of the markets we serve and to be a part of such resilient communities.
Best regards,
David W. Pijor, Chairman and Chief Executive Officer
2020 Annual Report
1
EXECUTIVE OFFICERS
Seated, from left to right: Patricia A. Ferrick, President; David W. Pijor, Chairman and
Chief Executive Officer. Standing, from left to right: William G. Byers, Executive Vice
President and Chief Lending Officer; Jennifer L. Deacon, Executive Vice President
and Chief Financial Officer; B. Todd Dempsey, Executive Vice President and Chief
Operating Officer; Sharon L. Jackson, Executive Vice President and Chief Deposit
Officer; and, Michael G. Nassy, Executive Vice President and Chief Credit Officer.
2
COMMUNITY FOCUS
DIRECTORS
David W. Pijor
Chairman/CEO
L. Burwell Gunn
Vice Chairman
Morton A. Bender
Patricia A. Ferrick
President
Meena Krishnan**
Scott Laughlin
Lawrence W. Schwartz
Sidney G. Simmonds
Daniel M. Testa
Philip “Trey” R. Wills III
Thomas L. Patterson
Steven M. Wiltse
Devin Satz
REGIONAL LENDING OFFICERS
Alissa Curry Briggs*
Executive Director of Commercial
Real Estate Lending
James C. Elliott
Market President, Virginia
Oliver James
Director of C&I Lending
Gerald A. Muccioli
Market President, Maryland and D.C.
Eric Pietras**
Director of Government
Contract Lending
Michelle L. Buckles
Senior Vice President,
Director of Compliance
Joseph Catalano
Senior Vice President,
Commercial Loan Officer
David Clark
Senior Vice President, Controller
Lisa M. Craze
Senior Vice President, Loan
Documentation and Administration
Alberta A. Gibson
Senior Vice President, Director
of Human Resources
Thomas W. Grantham
Senior Vice President,
Commercial Loan Officer
Sharon Gray
Senior Vice President, Loan Operations
OFFICERS
Craig Laudeman
Senior Vice President,
Commercial Loan Officer
Linda Long
Senior Vice President,
Commercial Loan Officer
Jacqueline S.
Marbell-Edson
Senior Vice President,
Credit Administration
Tim Moorstein
Senior Vice President, C&I &
Government Contract Loan Officer
Farideh Mullafiroze
Senior Vice President, Business
Development Officer
Mark Palmer
Senior Vice President,
Commercial Loan Officer
Cynthia L. Piccione
Senior Vice President,
Deposit Operations
Eric Radcliffe
Senior Vice President,
Commercial Loan Officer
Christine M. Rowe
Senior Vice President,
Treasury Services Manager
Altaf Shadick
Senior Vice President, Director of Retail
Joshua F. Steele
Senior Vice President,
Commercial Loan Officer
Huong V. Song
Senior Vice President,
Commercial Loan Officer
Steffany R. Watson
Senior Vice President, Director of
Treasury Management Services
*Executive Team Member
**Joined in 2021
2020 Annual Report
3
SELECTED FINANCIAL DATA
(dollars and shares in thousands, except per share data)
2020
2019
2018
2017
2016
INCOME STATEMENT DATA:
Interest income
Interest expense
Net interest income
Provision for loan losses
Net interest income after provision for loan losses
Non-interest income
Non-interest expense
Net income before income taxes
Provision for income taxes
Net income
BALANCE SHEET DATA:
Total assets
Loans receivable, net of fees
Allowance for loan losses
Total investment securities
Total deposits
Other borrowed funds
Total shareholders’ equity
Common shares outstanding
PER COMMON SHARE DATA:
Basic net income
Fully diluted net income
Book value
Tangible book value (1)
PERFORMANCE RATIOS:
Return on average assets
Return on average equity
Net interest margin (2)
Efficiency ratio (3)
Non-interest income to average assets
Non-interest expense to average assets
Loans receivable, net of fees to total deposits
ASSET QUALITY RATIOS:
Net charge-offs (recoveries) to average loans receivable, net of fees
Nonperforming loans to loans receivable, net of fees
Nonperforming assets to total assets
Allowance for loan losses to nonperforming loans
Allowance for loan losses to loans receivable, net of fees
CAPITAL RATIOS (Bank Only):
Tier 1 risk-based capital
Total risk-based capital
Common Equity Tier 1 capital
Leverage capital ratio
OTHER:
Average shareholders’ equity to average total assets
Average loans receivable, net of fees to average total deposits
Average common shares outstanding:
Basic
Diluted
$ 67,103
14,483
52,620
5,016
47,604
2,891
30,838
19,657
4,156
$ 15,501
$ 1,821,481
1,466,083
(14,958)
126,415
1,532,493
69,085
189,500
13,511
$ 66,734
18,671
48,063
1,720
46,343
2,546
28,877
20,012
4,184
$ 15,828
$ 1,537,295
1,270,526
(10,231)
141,589
1,285,722
49,487
179,078
13,902
$ 51,924
12,110
39,814
1,920
37,894
1,661
26,448
13,107
2,238
$ 10,869
$ 1,351,576
1,136,743
(9,159)
125,298
1,162,440
24,407
158,336
13,713
$ 40,302
8,195
32,107
1,200
30,907
2,975
19,346
14,536
6,846
$ 7,690
$ 1,053,224
888,677
(7,725)
117,712
928,163
24,327
98,283
10,869
$ 1.14
1.10
14.03
13.41
0.91%
8.48 %
3.28%
55.55 %
0.17 %
1.80 %
95.67%
0.02%
0.38%
0.52%
266.11%
1.02%
NA
NA
NA
11.65 %
10.70%
98.51 %
13,542
14,134
$ 1.15
1.07
12.88
12.26
1.09%
9.32%
3.48%
57.06%
0.18%
1.99%
98.82%
0.05 %
0.84 %
0.95%
95.39%
0.81 %
12.72%
13.43 %
12.72%
12.15%
11.71 %
98.56 %
13,817
14,825
$ 0.93
0.85
11.55
10.93
0.94%
9.29%
3.51 %
63.07 %
0.14 %
2.28%
97.79%
0.05%
0.34%
0.57 %
285.24 %
0.81 %
13.27%
14.02%
13.27%
12.41 %
10.09%
96.56%
11,715
12,822
$ 0.74
0.67
9.04
9.03
0.80%
8.63%
3.43%
57.16 %
0.31 %
2.02 %
95.75 %
(0.01)%
0.09 %
0.44 %
979.09%
0.87 %
12.05%
12.83%
12.05 %
11.79%
9.32%
97.74 %
10,435
11,545
$ 32,587
5,387
27,200
1,471
25,729
1,220
16,446
10,503
3,571
$ 6,932
$ 909,305
768,102
(6,452)
113,988
775,991
51,247
79,811
10,179
$ 0.68
0.63
7.84
7.83
0.88%
8.91%
3.51%
58.02 %
0.15%
2.08%
98.98%
0.19%
0.03%
0.03%
2,591.16%
0.84 %
12.37%
13.16%
12.37%
11.89%
9.85%
96.05%
10,170
10,922
(1) Tangible book value is calculated as total shareholders’ equity, less goodwill and other intangible assets, divided by common shares outstanding.
(2) Net interest margin is calculated as net interest income divided by total average earning assets.
(3) Efficiency ratio is calculated as total non-interest expense divided by the total of net interest income and non-interest income. The efficiency ratio for 2018 was impacted
by merger expenses of $3.3 million associated with the Company’s acquisition of Colombo Bank.
4
COMMUNITY FOCUS SELECTED FINANCIAL DATA
(Continued)
LOANS RECEIVABLE, Net of Fees (millions)
TOTAL DEPOSITS (millions)
1,500
1,200
900
600
300
$ -
$1,466
2000
7 %
C A G R 1
$1,137
$1,271
$889
$768
1500
1000
500
0
C A G R 1 9 %
$1,286
$1,162
$1,532
$928
$776
2016
2017
2018
2019
2020
2016
2017
2018
2019
2020
INCOME BEFORE NONRECURRING
EXPENSES AND TAXES (thousands)
EFFICIENCY RATIO
63.07%
58.02% 57.16%
57.06% 55.55%
$20,145 $20,333
C A G R 1 8 %
$16,446
$14,536
$10,503
25,000
20,000
15,000
10,000
5,000
$ -
80
70
60
50
40
30
20
10
% -
2016
2017
2018
2019
2020
2016
2017
2018
2019
2020
2020 Annual Report
5
FVCBANK DELIVERS 750 BUSINESS-SAVING PPP LOANS
Soon after COVID-19 halted sectors of the U.S. economy, the U.S. Small Business
Administration’s Paycheck Protection Program (PPP) launched to offer struggling
businesses a lifeline through low-interest, private loans.
As part of a commitment to customers and community, FVCbank worked to safeguard the local
economy by helping local businesses attain critical PPP loans, allowing them to retain talent, pay
rent and cover other operating costs.
In less than three months, the Bank’s team secured more than 750 PPP loans totaling
$173 million. FVCbank’s experienced leadership and a passionate commitment to its
community and customers made the difference.
KEEPING A LOCAL BUSINESS ALIVE
When Washington, D.C.-based IT services
company FSi Strategies needed a PPP loan to
prevent layoffs, its Executive Vice President
Nabil Aitoumeziane found relief with a
PPP loan through FVCbank. He thought the
process would take months; FVCbank
I did not have to worry about
our business staying alive.
The FVCbank team has shown
me time and time again they
will do anything to help us.
delivered a PPP loan in just a few weeks.
– Nabil Aitoumeziane
THE COMMUNITY BANK THAT DELIVERS
Although they recently brought their insurance title company’s business to FVCbank, Stephen Millstein and
Michael Segal of Certified Title Corporation in Owings Mills, Maryland first turned to a national bank for a
PPP loan. They thought a national bank might mean a quick process. Instead, they found delays even as they
worried that restrictions could harm their business, which regularly requires in-person service. In the end, it
was their community bank — FVCbank — that rapidly delivered.
FVCbank was diligent and responsive to our needs. We could see that they prioritized us as
a customer and that it was important for them that the loan process went smoothly for us.”
– Stephen Millstein, Owner and Counsel of Certified Title Corporation
The FVCbank team successfully navigated the PPP process for Millstein and Segal. They eased their
worries by keeping them informed at every step. Less than a year after fully switching their banking
operations to FVCbank, their PPP experience signaled that Millstein and Segal had found a bank they
could trust in their community.
6
COMMUNITY FOCUS
BUSINESS-SAVING PPP LOANS
(Continued)
A RAPID, RELIABLE LOAN PROCESS
Sarah Safa found herself in a similar position as COVID-19
forced her company, Refined Aesthetics of Leesburg,
Virginia, to temporarily close its practice. When another
bank failed to help her secure a PPP loan, a friend
recommended FVCbank. Her loan was submitted and
approved with the Bank’s help in a fraction of the time
she believed her previous bank would require.
FVCbank’s personal touch made
all the difference. It was evident
the team always put the
customer first and strived to
be a support system to us
all during uncertain times.
Because of her positive experience through the PPP
– Sarah Safa
loan application process, Safa switched to FVCbank
for all her business’ needs.
IMMEDIATE HELP WHEN NEEDED
FVCbank also delivered for Jessica Stuart and her 20
employees at her Washington, D.C. creative services
company, Long Story Short Media. Stuart’s
PPP loan application stalled with another
bank, which eventually stopped taking
her calls. Colleagues in her field told her
of their positive experience securing PPP
loans through FVCbank. She connected
with the Bank’s team. Once submitted,
her loan application was approved
almost immediately, compared to
her previous attempts.
Stuart also moved her business’ banking portfolio to FVCbank.
I was not yet a customer, and their
openness to encourage me to come into
their family meant a lot to me. I realized
right away that their level of customer
service was something I had been
missing this whole time.
– Jessica Stuart
FVCBANK’S EXPERIENCE, VALUES MAKE THE DIFFERENCE
The Bank’s commitment to its core values — good corporate citizenship and strong customer relations —
proved the decisive factor in delivering rapid, business-saving relief for local small shops through PPP.
By constantly adapting to changing circumstances and through proactive attention to their customers’
needs, the Bank’s team ensured that customers large and small were treated equally and their concerns
were eased at a time of tremendous uncertainty and business turbulence. As FVCbank’s positive
reputation and family of customers continue to expand, these values will guide its relationships —
new and existing — through times of challenge and growth.
2020 Annual Report
7
COMMUNITY STAPLE CREDITS FVCBANK
FOR KEEPING IT IN BUSINESS
Whitlow’s on Wilson, a restaurant, bar and live music venue, stands as a community cornerstone in
Arlington, Virginia. Managed for nearly three decades by Jon Williams and his family, Whitlow’s on
Wilson has established itself as a neighborhood gathering place, a comforting spot for family dinners
and a launching pad for local bands.
When the pandemic restrictions began in early 2020, Williams knew his business needed a lifeline. He also
worried for his more than 100 employees. The situation stood to imperil this beloved locally owned business
and leave a neighborhood without a key element to its sense of place.
We thought we’d close. I wasn’t sure for a long time if we could keep going. I grew up with this
business, and I’ve seen the families of customers grow up at Whitlow’s along the way.”
– Jon Williams
Just when a memory-making institution sat at the brink of permanent closure, FVCbank answered the call.
FVCBANK’S PERFORMANCE WITH PPP LOANS SAVES A FAMILY LEGACY
Williams saw a chance to preserve his business, his family’s history and the neighborhood’s character after
reading about the Paycheck Protection Program (PPP). He reached out to several banks but found little
help that relieved his worries. Then, he found solace with FVCbank, where he had transferred his business
banking just a few years earlier.
After completing his application, and with FVCbank there to help at every
step in the process, Williams received a PPP loan only a month after the
program had launched.
Remarking on his PPP loan approval, he added, “It was one of biggest sighs of
relief I’ve had in my life. Working with FVCbank is a partnership — you’re more
than a customer.”
A second PPP loan, an application also quickly processed by the Bank’s
steadfast team, has kept Whitlow’s and its family and neighborhood
tradition alive. Williams is already looking ahead to the day when live music
can again be heard at Whitlow’s on Wilson, and hopes that days of food,
families, fun and music in Arlington will continue many years into the future,
thanks to the support of FVCbank.
Their responsiveness
was great. They put
us at ease and gave
us peace of mind.
– Jon Williams
8
COMMUNITY FOCUS
FVCBANK SHINES BRIGHT
AND DELIVERS FOR DENTIST
As a practicing dentist for 37 years who owns
and operates Centreville Dental and Promenade
Dental in northern Virginia, Dr. Rena Vakay knew
that COVID-19 posed a major challenge to her
businesses. In early spring 2020, pandemic
restrictions closed her practices. Even after
reopening to serve patients’ emergency needs,
continued restrictions prevented both sites from
performing elective procedures.
“We were closed for about two months because of
the pandemic, which made it hard to keep up with
payroll and overhead,” Vakay said.
FVCbank’s team
got to work. Like the
Coast Guard coming out
to save a sinking ship!
– Dr. Rena Vakay
With her businesses and the jobs of 15 employees on the line, Vakay looked toward applying for a loan from
the Paycheck Protection Program (PPP). She felt it could tide over her practice, keep her employees paid
and relieve her worries. But when she contacted her previous bank, they offered every excuse for why they
could not get her loan approved.
FVCBANK SAVES BUSINESSES AND BRINGS SMILES
Then, Vakay received a referral to FVCbank. She reached out and found immediate satisfaction that ended a
string of sleepless nights.
Vakay found the level of service personal and seamless, a tribute to the Bank’s collaborative structure and
processes that ensure that every team member works on behalf of the customer. She noticed she never
got bounced around between departments and that FVCbank was always in touch. Within barely a week,
FVCbank had walked Vakay through the entire PPP process, prepared, and submitted her application; her
PPP loan was approved almost immediately.
Vakay used one word to describe her feeling when she heard that the loan came through, “Relief!”
My motto is ‘excuses never eliminate responsibility.’ I never got an excuse from FVCbank. We were
under so much pressure at the time, so it was a relief when our PPP loan was approved.”
– Dr. Rena Vakay
Pleased with her experience working with the dedicated team at FVCbank, she has moved her business
accounts to the bank. She found a team there that worked hard for her and that was committed to finding
a solution for her business. She looks forward to a long relationship with FVCbank, which she describes
as a “partner.”
2020 Annual Report
9
FVCBANK IMPRESSES CUSTOMERS
WITH PERSONAL BANKING SERVICES
FVCbank’s high level of care forms the core of its reputation and relationship with the communities it serves.
Among personal-banking customers, this fundamental value has attracted new customers and cemented the
trust of existing ones.
For these customers, FVCbank’s employees routinely deliver exceptional care through cash management
and other branch services. Two prime examples stand out as representative of the Bank’s focus on customer
service over the past year.
EXCEEDING EXPECTATIONS FOR THE HORDELLS
In 2020, Michael and Patricia Hordell, of Fairfax, Virginia, wanted to find a bank that delivered the level of
care they expected and simply made them feel welcome. Their previous banks did not meet that standard.
After an extensive search, the Hordells chose FVCbank. Since becoming customers in the summer of 2020,
the Hordells said that the Bank had exceeded their expectations.
Due to Mr. Hordell’s line of work, he and his wife cannot participate in online banking. The Bank delivered a
great experience because it offers the security they need but also dedicated employees with whom they can
actually talk. “There’s a real relationship there,” Mr. Hordell said. The Hordells described how bank employees
always return calls, answer their questions and proactively communicate, whenever possible.
Today, the Hordells encourage others to transfer their personal banking needs to FVCbank.
Every employee makes you feel
like you own the bank, rather
than just being another customer.
If you’re looking for great
customer service, then you
have to go with FVCbank.
– Patricia Hordell
10 COMMUNITY FOCUS
PERSONAL BANKING SERVICES
(Continued)
CAROLYN PEACHEY STAYS WITH FVCBANK FOR ITS CUSTOMER SERVICE
Carolyn Peachey, of Washington D.C., has banked with FVCbank since her accounts from another
institution were transferred through acquisition.
Previously a business account customer through her event management company, Peachey has stayed
with FVCbank for her personal banking due to its commitment to its customers’ needs.
As a senior who is relatively new to online banking, she received assistance with the technical questions
she had. She described how bank employees went above and beyond to ensure that they truly listened to
her needs and answered her questions, including follow-up to make sure.
“If you need a bank that offers one-on-one service, then this is the bank I would tell you to go to. There’s a
very personal touch that you don’t always get elsewhere.” Peachey added that she has recently referred a
friend to FVCbank for help obtaining a PPP loan.
FVCbank provides
excellent customer
service. It makes no
difference what
size your account.
– Carolyn Peachey
2020 Annual Report
1111
2020 Annual Report FVCBANK SUPPORTING THE COMMUNITY
12 COMMUNITY FOCUS
The strength of the communities we serve is a true
testament to the perseverance of the people and their
businesses. Caring for our customers and the community
and reaching out to lend a hand remains at the core of
our mission. Our team has committed to providing
dedicated attention and service in order to see our
customers succeed and our community thrive.
– Patricia A. Ferrick, president of FVCB and FVCbank
2020 Annual Report
13
OUR LOCATIONS
Headquarters
11325 Random Hills Road, Suite 240
Fairfax, VA 22030
Phone: 703.436.3800
Arlington Branch (VA)
2500 Wilson Boulevard, Suite 100
Arlington, VA 22201
Phone: 703.387.5050
Baltimore Branch (MD)
224 Albemarle Street
Baltimore, MD 21202
Phone: 410.685.4611
Bethesda Branch (MD)
6929 Arlington Road
Bethesda, MD 20814
Phone: 301.652.2265
Fairfax Branch (VA)
11325 Random Hills Road, Suite 140
WEST
VIRGINIA
Fairfax, VA 22030
Phone: 703.672.2580
Lutherville Loan Office (MD)
22 West Padonia Road, Suite A-200
Lutherville, MD 21093
Phone: 410.387.2620
Manassas Branch (VA)
7900 Sudley Road, Suite 100
Manassas, VA 20109
Phone: 703.656.7300
Reston Branch (VA)
11260 Roger Bacon Drive, Suite 101
Reston, VA 20190
Phone: 703.436.3880
Rockville Branch (MD)
1600 E. Gude Drive
Rockville, MD 20850
Phone: 240.268.2265
Springfield Branch (VA)
6975 Springfield Boulevard
Springfield, VA 22150
Phone: 703.672.2590
Washington, D.C. Branch
1301 9th Street NW
Washington, D.C. 20001
Phone: 202.628.5500
BALTIMORE
MARYLAND
WASHINGTON, D.C.
VIRGINIA
14
www.fvcbank.com
COMMUNITY FOCUS