FVCBankcorp, Inc 8-K, filed Aug 31, 2021
FVCBankcorp, Inc. (FVCB)
About this 8-K
FVCBankcorp, Inc filed this 8-K on August 31, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On August 31, 2021, FVCbank, the wholly owned subsidiary of FVCBankcorp, Inc., issued a press release announcing that it has acquired a 28.7% membership interest in Atlantic Coast Mortgage, LLC, a mortgage lender headquartered in Fairfax, Virginia. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description | |
| 99.1 | Press release dated August 31, 2021. | |
| 104 | Form 8-K formatted in Inline Extensible Business Reporting Language (included with the Inline XBRL document). |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FVCBANKCORP, INC. | |||
| By: | /s/ Jennifer L. Deacon | ||
| Jennifer L. Deacon, Executive Vice President and Chief Financial Officer | |||
| Dated: August 31, 2021 | |||
Exhibit 99.1
PRESS RELEASE
For further information, contact:
David W. Pijor, 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
FOR IMMEDIATE RELEASE – August 31, 2021
FVCbank Acquires Membership Interest in Atlantic Coast Mortgage, LLC
Fairfax, VA-FVCbank (the “Bank”) has acquired a membership interest in Atlantic Coast Mortgage, LLC (“ACM”). As a result of such investment, the Bank has obtained a 28.7% ownership interest in ACM. The transaction is effective today, August 31, 2021.
The Bank provides a warehouse lending facility to ACM, including a construction-to-permanent financing line, and has developed portfolio mortgage products to diversify its current held for investment loan portfolio.
ACM is a licensed mortgage lender headquartered in Fairfax, Virginia primarily engaged in the origination of 1-4 family residential mortgage loans and construction loans. ACM was founded in 2011 and is led by a team of seasoned mortgage professionals including its Chief Executive Officer, Timur Tunador, a founder of ACM who has almost 30 years of mortgage banking experience. ACM is licensed in the Commonwealth of Virginia, the District of Columbia, Maryland, and 14 other states. Including its headquarters in Fairfax, Virginia, ACM currently has 12 branches located in Virginia, Maryland, the District of Columbia, and South Carolina.
“We are excited to partner with a leading mortgage originator who shares a common vision of community banking,” said David W. Pijor, Chairman and CEO. “This partnership will allow us to provide competitive residential mortgage products to our customers, while increasing our financial opportunities and expanding our revenue mix.”
About FVCbank
FVCbank is a wholly-owned subsidiary of FVCBankcorp, Inc. (NASDAQ: FVCB) that commenced operations in November 2007. FVCbank is a $1.98 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, please visit the Investor Relations page of FVCBankcorp, Inc.’s website, www.fvcbank.com.
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