Loading...
•
Jun 30, 2023
Mvb Financial Q2 2023 Earnings Report
Announced financial results for the second quarter of 2023.
Key Takeaways
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.
Total deposits declined 6.1% compared to the prior quarter-end, primarily reflecting seasonal considerations in gaming and BaaS deposits, offset by growth in CDs and other interest-bearing deposits.
Total off-balance sheet deposits increased to $1.1 billion as compared to $1.0 billion at the prior quarter-end.
Nonperforming loans totaled $13.6 million, or 0.6% of total loans.
Net interest income on a fully tax-equivalent basis declined 9.6% to $29.8 million relative to the prior quarter.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...