MVB Financial Corp. announced a transformative third quarter in 2025, achieving a net income of $17.1 million and diluted EPS of $1.32. Key drivers included a significant pre-tax gain of $34.1 million from the sale of Victor Technologies and a strategic securities repositioning, which, combined with expense efficiencies, is expected to boost annualized EPS by $0.30 to $0.35. The company also saw robust loan growth of 4.9% and enhanced capital strength, with tangible book value per share increasing by 9.7%.
MVB Financial Corp. reported a net income of $3.6 million for the first quarter of 2025, with diluted earnings per share of $0.27. The company saw a 7.1% increase in net interest income from the prior quarter and a 14.6% decrease in noninterest expense. Asset quality indicators improved, and capital strength was enhanced, with book value per share and tangible book value per share increasing by 1.4% and 2.1% respectively.
MVB Financial Corp. reported a net income of $9.4 million for the fourth quarter of 2024, a substantial increase from the prior quarter. This growth was primarily driven by an $11.8 million gain on the sale of assets from a sale-leaseback transaction and increased revenue from its Victor Technologies subsidiary. The company also saw enhanced foundational strength with improved capital ratios and a decline in nonperforming loans.
MVB Financial Corp. reported a net income of $2.1 million, or $0.16 basic and diluted earnings per share, for the third quarter of 2024. The results were impacted by the wind-down of the digital asset program, which reduced EPS by $0.29. However, the company saw growth in payments-related deposits and an enhanced capital base.
MVB Financial Corp. reported a net income of $4.1 million, or $0.32 basic and $0.31 diluted earnings per share for Q2 2024. The results were impacted by the exit of digital asset program account relationships, which reduced EPS by $0.08. The company also renewed its partnership with Intuit-Credit Karma and appointed Jeremy Kuiper as Fintech President.
MVB Financial Corp. reported a net income of $4.5 million, or $0.35 basic and $0.34 diluted earnings per share for Q1 2024. The company saw an increase in total revenue driven by fintech fee income growth and a rise in noninterest bearing deposits. However, earnings were weighed down by higher costs related to regulatory compliance and cyclical challenges.
MVB Financial Corp. reported a strong fourth quarter, with net income of $7.9 million, or $0.62 basic and $0.61 diluted earnings per share. The company saw improvements in net interest income and net interest margin, along with well-controlled expenses and accelerated Fintech-related fee income growth.
MVB Financial Corp. announced its Q3 2023 financial results, reporting a net income of $3.9 million, or $0.30 basic and $0.29 diluted earnings per share. The company saw an increase in balance sheet deposits by 2.7% and a net interest margin improvement of 10 bps to 3.87%.
MVB Financial Corp. reported a net income of $8.1 million, or $0.64 basic and $0.63 diluted earnings per share for the second quarter of 2023. The company took decisive action following the market events of March 2023, maintaining a strong balance sheet liquidity position and enhancing its risk management and compliance infrastructure.
MVB Financial Corp. reported a net income of $11.3 million for Q1 2023, with earnings per share at $0.90 basic and $0.87 diluted. Total deposits increased by 22.6% from the prior quarter, and liquidity improved, with a loan to deposit ratio of 74.9%. The company completed the sale of Chartwell Compliance, resulting in a pre-tax gain of $11.8 million.
MVB Financial Corp. reported a net income of $6.5 million, or $0.50 diluted earnings per share, for the fourth quarter of 2022. The company saw improvement in core earnings driven by net interest margin expansion and net interest income growth. Cost-saving initiatives led to lower expenses and positive operating leverage.
MVB Financial Corp. reported net income of $2.7 million, or $0.21 diluted earnings per share for Q3 2022. The company saw strong loan production, growth in low-cost deposits, and net interest margin expansion, resulting in robust growth in net interest income. Challenges emerged due to higher interest rates and a slowing economy impacting the mortgage business and fee income, coupled with elevated provisioning for loan losses related to strong loan growth.
MVB Financial Corp. reported a net income of $3.0 million, or $0.23 diluted earnings per share, for the second quarter of 2022. Strong deposit growth, robust loan growth, and margin expansion drove net interest income growth. The company's Fintech-related fee income increases gained traction. However, a significant increase in provision for loan losses and a slowdown in the mortgage business created downward pressure on the quarter's results.
MVB Financial Corp. announced financial results for the first quarter of 2022, with a net income of $2.9 million, or $0.22 diluted earnings per share. Fintech and gaming initiatives drove growth in noninterest-bearing deposits, which now represent 52% of total deposit balances. Loan growth was robust, driven by strategic lending partnerships.
MVB Financial Corp. reported net income of $10.0 million, or $0.83 basic and $0.77 diluted earnings per share for the three months ended December 31, 2021. The results reflect the diversity of their tech-forward business model and strong positioning for the future.
MVB Financial Corp. reported a strong third quarter, driven by its fintech initiatives and core funding transformation. Net income reached $11.8 million, with basic earnings per share at $1.00 and diluted earnings per share at $0.92. The company saw significant growth in noninterest-bearing Fintech deposits, representing nearly 42% of total deposit funding.
MVB Financial Corp. reported a net income of $9.2 million, or $0.79 basic and $0.73 diluted earnings per share for the three months ended June 30, 2021. The company's financial technology and gaming initiatives drove continued transformation of MVB’s core funding profile.
MVB Financial Corp. reported a net income of $8.1 million, or $0.70 basic and $0.66 diluted earnings per share for the three months ended March 31, 2021. The company saw growth in loans and deposits and made significant investments in technology.
MVB Financial Corp. reported a strong fourth quarter with a net income of $11.8 million, or $1.00 basic and $0.97 diluted earnings per share.
MVB Financial Corp. reported a strong third quarter of 2020, with a 50% increase in net income, a 134% increase in noninterest-bearing deposits, and a 25% increase in tangible book value from the previous year.
MVB Financial Corp. reported a strong second quarter of 2020, with net income of $18.0 million, or $1.50 basic and $1.49 diluted earnings per share. The company completed three strategic transactions, including the FDIC-assisted acquisition of The First State Bank, the acquisition of Paladin, LLC, and the sale of four banking centers in the Eastern Panhandle region of WV.
MVB Financial Corp. reported a net income of $1.0 million, or $0.08 basic and diluted earnings per share for the three months ended March 31, 2020. Total deposits increased and borrowings decreased from December 31, 2019. Volatility in the mortgage market caused a decrease in the derivative asset.
MVB Financial Corp. reported a net income of $4.1 million, with basic earnings per share at $0.34 and diluted earnings per share at $0.32 for the quarter ended December 31, 2019.