In a time when most corporations struggle, First Virginia Community Bank has gone against the stream and managed to do the unthinkable by turning a profit in less than two years.
Reaching what FVCB Chairman and CEO David W. Pijor called “another significant milesone, ” FVCB announced it earned a profit of $23, 000 last month. David Pijor was also an Ernst & Young Entrepreneur of the Year finalist in 2006.
“We reached this break even point in one of the worst recessions this economy has ever seen, and in only 23 months!” Pijor said. “In normal times, a new bank generally takes between 24 and 36 months to break even. We anticipate we will also recognize and report a profit for the entire fourth quarter 2009, in comparison to our third quarter-loss of approximately $179, 000.”
Founded in November 2007 in Fairfax, Va., FVCB’s mission entails working with its shareholders, friends and neighbors to build a financial services organization that will focus on the Northern Virginia business community, its owners and employees. The bank’s mission involves providing more than traditional banking products, such as helping people achieve their financial dreams, whether it creating a Fortune 500 company, planning for college educations, retirement or whatever that dream may be.