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Sep 30, 2020
Mvb Financial Q3 2020 Earnings Report
Reported strong results with increased net income, noninterest-bearing deposits, and tangible book value.
Key Takeaways
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.
Completed the MVB Mortgage combination with Intercoastal Mortgage Company and acquired the assets of Invest Forward, Inc.
Tangible Book Value per Share increased by 25.5% year-over-year to $18.66.
Noninterest-bearing deposits increased by 133.8% year-over-year to $642.8 million, representing 33.9% of total deposits.
Allowance for loan losses to total loans was 1.81%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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