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Sep 30, 2023
Mvb Financial Q3 2023 Earnings Report
MVB Financial reported net income for Q3 2023, with deposit growth, net interest margin improvement, and strategic balance sheet positioning.
Key Takeaways
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%.
Total deposits increased 2.7%, or $80.0 million, to $3.04 billion.
Noninterest bearing deposits increased 10.8%, or $106.3 million, and represent 36% of deposits.
Net interest margin improved by 10 bps, to 3.87%.
Nonperforming loans decreased 22.4%, or $3.1M.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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