Exhibit 99.1

PRESS RELEASE

FVCBankcorp, Inc. Announces

Third Quarter 2023 Earnings

Management Comments

Statement of Condition

Asset Quality

Minority Investment in Mortgage Banking Operation

Income Statement

Loan and Deposit Betas (vs. Fed Funds Effective)

About FVCBankcorp, Inc.

Cautionary Note 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: general business and economic conditions nationally or in the markets that the Company serves could adversely affect, among other things, real estate valuations, unemployment levels, inflation levels, the ability of businesses to remain viable, consumer and business confidence, and consumer or business spending, which could lead to decreases in demand for loans, deposits, and other financial services that the Company provides and increases in loan delinquencies and defaults; the risk of changes in interest rates on levels, composition and costs of deposits, loan demand, and the values and liquidity of loan collateral, securities, and interest sensitive assets and liabilities; changes in the Company's liquidity requirements could be adversely affected by changes in its assets and liabilities; changes in the assumptions underlying the establishment of reserves for possible credit losses; changes in market conditions, specifically declines in the commercial and residential real estate market, volatility and disruption of the capital and credit markets, and soundness of other financial institutions we do business with; 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; risks inherent in making loans such as repayment risks and fluctuating collateral values; the Company's investment securities portfolio is subject to credit risk, market risk, and liquidity risk as well as changes in the estimates used to value the securities in the portfolio; declines in the Company's common stock price or the occurrence of what management would deem to be a triggering event that could, under certain circumstances, cause us to record a noncash impairment charge to earnings in future periods; 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 occurrence of significant natural disasters, including severe weather conditions, floods, health related issues or emergencies, including the COVID-19 pandemic, and other catastrophic events; our management of risks inherent in our real estate loan portfolio, and the risk of a prolonged downturn in the real estate market, which could impair the value of our collateral and our ability to sell collateral upon any foreclosure; changes in consumer spending and savings habits; technological and social media changes; changing bank regulatory conditions, policies or programs, whether arising as new legislation or regulatory initiatives, that could lead to restrictions on activities of banks generally, or our subsidiary bank in particular, more restrictive regulatory capital requirements, increased costs, including deposit insurance premiums, regulation or prohibition of certain income producing activities or changes in the secondary market for loans and other products; 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; the impact of changes in laws, regulations and policies affecting the real estate industry; the effect of changes in accounting policies and practices, as may be adopted from time to time by bank regulatory agencies, the U.S. Securities and Exchange Commission, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setting bodies; the timely development of competitive new products and services and the acceptance of these products and services by new and existing customers; the willingness of users to substitute competitors’ products and services for our products and services; the effect of acquisitions we may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions; changes in the level of our nonperforming assets and charge-offs; our involvement, from time to time, in legal proceedings and examination and remedial actions by regulators; 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, 2022 and in other periodic and current reports filed with the U.S. 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.

FVCBankcorp, Inc.

Selected Financial Data

(Dollars in thousands, except share data and per share data)

(Unaudited)

FVCBankcorp, Inc.

Summary Consolidated Statements of Condition

(Dollars in thousands)

(Unaudited)

FVCBankcorp, Inc.

Summary Consolidated Income Statements

(Dollars in thousands, except per share data)

(Unaudited)

						For the Three Months Ended
																								% Change																		% Change
																								Current																		From
						9/30/2023									6/30/2023									Quarter									9/30/2022									Year Ago
Net interest income						$			13,335						$			14,388						-7.3			%						$			17,526						-23.9			%
Provision for credit losses									(729)									618						218.0			%									365						-299.8			%
Net interest income after provision for credit losses									14,064									13,770						2.1			%									17,161						-18.0			%
Noninterest income:
Fees on loans									107									169						-37.0			%									32						233.0			%
Service charges on deposit accounts									284									232						22.7			%									241						18.0			%
BOLI income									373									362						2.9			%									352						5.9			%
(Loss) Income from minority membership interest									(650)									20						-3,350.0			%									(160)						306.3			%
Other fee income									111									108						3.4			%									110						1.2			%
Total noninterest income									225									891						-74.8			%									575						-60.9			%
Noninterest expense:
Salaries and employee benefits									5,267									5,092						3.4			%									5,202						1.2			%
Occupancy expense									547									610						-10.3			%									417						31.2			%
Internet banking and software expense									660									583						13.3			%									432						52.8			%
Data processing and network administration									601									611						-1.7			%									595						0.9			%
State franchise taxes									584									584						0.0			%									509						14.8			%
Professional fees									213									247						-13.9			%									235						-9.5			%
Other operating expense									1,176									1,476						-20.4			%									1,209						-2.8			%
Total noninterest expense									9,048									9,203						-1.7			%									8,599						5.2			%
Net income before income taxes									5,241									5,458						-4.0			%									9,137						-42.6			%
Income tax expense (benefit)									1,202									1,225						-1.9			%									2,094						-42.6			%
Net Income						$			4,039						$			4,232						-4.6			%						$			7,043						-42.6			%
Earnings per share - basic (1)						$			0.23						$			0.24						-5.1			%						$			0.40						-43.7			%
Earnings per share - diluted (1)						$			0.22						$			0.23						-5.7			%						$			0.38						-42.0			%
Weighted-average common shares outstanding - basic (1)									17,800,108									17,710,535																		17,484,740
Weighted-average common shares outstanding - diluted (1)									18,274,432									18,058,612																		18,465,124
Reconciliation of Net Income (GAAP) to Pre-Tax Pre-Provision Income (Non-GAAP):
GAAP net income reported above						$			4,039						$			4,232															$			7,043
Add: Provision for credit losses									(729)									618																		365
Add: Loss on sale of investment securities									—									—																		—
(Subtract) Add: Income tax (benefit) expense									1,202									1,225																		2,094
Pre-tax pre-provision income						$			4,513						$			6,076															$			9,502
Earnings per share - basic (non-GAAP pre-tax pre-provision)(1)						$			0.25						$			0.34															$			0.54
Earnings per share - diluted (non-GAAP pre-tax pre-provision)(1)						$			0.25						$			0.34															$			0.51
Return on average assets (non-GAAP pre-tax pre-provision)									0.78		%							1.05		%																1.77		%
Return on average equity (non-GAAP pre-tax pre-provision)									8.45		%							11.72		%																18.71		%

FVCBankcorp, Inc.

Summary Consolidated Income Statements

(Dollars in thousands, except per share data)

(Unaudited)

												For the Nine Months Ended
																														% Change
																														Current
												9/30/2023									9/30/2022									Quarter
Net interest income												$			41,737						$			49,364						-15.4			%
Provision for credit losses															132									1,900						93.1			%
Net interest income after provision for credit losses															41,605									47,464						-12.3			%
Noninterest income:
Fees on loans															352									159						121.7			%
Service charges on deposit accounts															731									706						3.6			%
BOLI income															1,067									844						26.4			%
(Loss) Income from minority membership interest															(1,431)									754						-289.8			%
Loss on sale of available-for-sale investment securities															(4,592)									—						100.0			%
Other fee income															362									381						-5.0			%
Total noninterest income															(3,511)									2,844						-223.5			%
Noninterest expense:
Salaries and employee benefits															15,374									15,094						1.9			%
Occupancy expense															1,785									1,570						13.7			%
Internet banking and software expense															1,804									1,231						46.6			%
Data processing and network administration															1,834									1,688						8.6			%
State franchise taxes															1,753									1,527						14.8			%
Professional fees															644									884						-27.1			%
Merger and acquisition expense															—									125						-100.0			%
Other operating expense															4,067									3,139						29.6			%
Total noninterest expense															27,261									25,258						7.9			%
Net income before income taxes															10,833									25,050						-56.8			%
Income tax expense (benefit)															1,941									4,970						-61.0			%
Net Income												$			8,892						$			20,080						-55.7			%
Earnings per share - basic (1)												$			0.50						$			1.15						-56.4			%
Earnings per share - diluted (1)												$			0.49						$			1.09						-55.1			%
Weighted-average common shares outstanding - basic (1)															17,696,101									17,412,893
Weighted-average common shares outstanding - diluted (1)															18,209,830									18,481,572
Reconciliation of Net Income (GAAP) to Commercial Bank Operating Earnings (Non-GAAP):
GAAP net income reported above												$			8,892						$			20,080
Add: Merger and acquisition expense															—									125
Add: Loss on sale of available-for-sale investment securities															4,592									—
Subtract: provision for income taxes associated with non-GAAP adjustments															(1,010)									(28)
Net Income, core bank operating earnings (non-GAAP)												$			12,474						$			20,177
Earnings per share - basic (non-GAAP core bank operating earnings)(1)												$			0.70						$			1.16
Earnings per share - diluted (non-GAAP core bank operating earnings)(1)												$			0.69						$			1.09
Return on average assets (non-GAAP core bank operating earnings)															0.73		%							1.28		%
Return on average equity (non-GAAP core bank operating earnings)															7.97		%							13.20		%
Efficiency ratio (non-GAAP core bank operating earnings)															63.67		%							48.14		%
Reconciliation of Net Income (GAAP) to Pre-Tax Pre-Provision Income (Non-GAAP):
GAAP net income reported above												$			8,892						$			20,080
Add: Provision for credit losses															132									1,900
Add: Loss on sale of investment securities															4,592									—
(Subtract) Add: Income tax (benefit) expense															1,941									4,970
Pre-tax pre-provision income												$			15,557						$			26,950
Earnings per share - basic (non-GAAP pre-tax pre-provision)(1)												$			0.88						$			1.55
Earnings per share - diluted (non-GAAP pre-tax pre-provision)(1)												$			0.85						$			1.46
Return on average assets (non-GAAP pre-tax pre-provision)															0.90		%							1.71		%
Return on average equity (non-GAAP pre-tax pre-provision)															9.93		%							17.64		%

FVCBankcorp, Inc.

Average Statements of Condition and Yields on Earning Assets and Interest-Bearing Liabilities

(Dollars in thousands)

(Unaudited)

FVCBankcorp, Inc.

Average Statements of Condition and Yields on Earning Assets and Interest-Bearing Liabilities

(Dollars in thousands)

(Unaudited)