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FVCbank has been busy with its IPO. Here’s what it’s doing next.

Fairfax-based FVCBankcorp. Inc. (NASDAQ: FVCB), the parent company of FVCbank, is having a busy few weeks.

The community bank with $1.1 billion in assets is fresh off a successful $35 million initial public offering, which closed Tuesday, and began trading on the NASDAQ last week. Its now trading near all-time highs (it was listed previously on over-the-counter exchanges) around $20 per share.

Now it needs to seal its impending acquisition of Rockville’s Colombo Bank.

That is why FVCbank is registering 880,708 additional shares, about $21.2 million in stock, as part of its deal to pay out Colombo Bank shareholders a portion of the $33 million deal in cash and stock. That is in addition to the 1.7 million shares it registered during its IPO. The cash payout is expected to be about $18.3 million, according to Securities and Exchange Commission filings.

While the acquisition isn’t particularly large, with Colombo bank holding about $195 million in assets, it has an outsized branch…

Read the full story from the Washington Business Journal.



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