MVB Financial Corp
NASDAQ:MVBF

  • LAST PRICE
    18.5200
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    18.4600/ 1
  • Ask / Lots
    18.7300/ 1
  • Open / Previous Close
    0.0000 / 18.5200
  • Day Range
    ---
  • 52 Week Range
    16.5000
    27.2300
  • Volume
    396

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  • May 1, 2024

  • Apr 29, 2024

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    • 4:31PM ET on Monday Apr 29, 2024 by MT Newswires
      Companies Mentioned: MVBF
      04:31 PM EDT, 04/29/2024 (MT Newswires) -- ...

    • 4:30PM ET on Monday Apr 29, 2024 by Business Wire
      Companies Mentioned: MVBF

      MVB Financial Corp. (NASDAQ: MVBF) ("MVB Financial," "MVB" or the "Company"), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the first quarter of 2024, with reported net income of $4.5 million, or $0.35 basic and $0.34 diluted earnings per share.

    • 4:30PM ET on Monday Apr 29, 2024 by Dow Jones
      Companies Mentioned: MVBF
      Loans originated $ 1,050,089 $ 1,020,128 $ 232,660 Loans closed $ 653,306 $ 724,453 $ 385,011 Loans sold $ 916,115 $ 639,788 $ 302,782 (1) Common equity less total goodwill and intangibles per common share, a non-U.S. GAAP measure. See the reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 17. (2) Annualized for the quarterly periods presented. (3) Net interest income as a percentage of average interest-earning assets. (4) Presented on a fully tax-equivalent basis, a non-GAAP financial measure. (5) Noninterest expense as a percentage of net interest income and noninterest income, a non-U.S. GAAP measure. (6) Noninterest expense as a percentage of average assets, a non-U.S. GAAP measure. (7) Charge-offs, less recoveries. (8) Excludes loans held-for-sale. (9) Information is related to Intercoastal Mortgage Company, LLC and Warp Speed Holdings LLC, entities in which MVB has an ownership interest that are accounted for as equity method investments. Non-GAAP Reconciliation: Net Interest Margin on a Full Tax-Equivalent Basis The following table reconciles, for the periods shown below, net interest margin on a fully tax-equivalent basis: Three Months Ended ---------------------------------------------- December 31, (Dollars in thousands) March 31, 2024 2023 March 31, 2023 ----------------------- -------------- -------------- -------------- Net interest margin - U.S. GAAP basis Net interest income $ 30,139 $ 31,107 $ 32,729 Average interest-earning assets $3,185,401 $3,054,958 $3,042,863 Net interest margin 3.81% 4.04% 4.36% Net interest margin - non-U.S. GAAP basis Net interest income $ 30,139 $ 31,107 $ 32,729 Impact of fully tax-equivalent adjustment 194 193 284 --------- --------- --------- Net interest income on a fully tax-equivalent basis $ 30,333 $ 31,299 $ 33,013 ========= ========= ========= Average interest-earning assets $3,185,401 $3,054,958 $3,042,863 Net interest margin on a fully tax-equivalent basis 3.83% 4.06% 4.40% Non-U.S. GAAP Reconciliation: Tangible Book Value per Common Share and Tangible Common Equity Ratio (Unaudited) (Dollars in thousands, except per share data) March 31, 2024 December 31, 2023 March 31, 2023 ------------- ----------------- ----------------- ------------------ Tangible Book Value per Common Share Goodwill $ 2,838 $ 2,838 $ 2,838 Intangibles 330 352 420 --------- --------- ---------- Total intangibles $ 3,168 3,190 3,258 ========= ========= ========== Total equity attributable to parent $ 291,850 289,384 271,131 Less: Total intangibles (3,168) (3,190) (3,258) --------- --------- ---------- Tangible common equity $ 288,682 $ 286,194 $ 267,873 ========= ========= ========== Tangible common equity $ 288,682 $ 286,194 $ 267,873 Common shares outstanding (000s) 12,841 12,758 12,653 Tangible book value per common share $ 22.48 $ 22.43 $ 21.17 Tangible Common Equity Ratio Total assets $ 3,547,390 $ 3,313,882 $ 3,551,876 Less: Total intangibles (3,168) (3,190) (3,258) --------- --------- ---------- Tangible assets $ 3,544,222 $ 3,310,692 $ 3,548,618 ========= ========= ========== Tangible assets $ 3,544,222 $ 3,310,692 $ 3,548,618 Tangible common equity $ 288,682 $ 286,194 $ 267,873 Tangible common equity ratio 8.1% 8.6% 7.5%

    • 4:30PM ET on Monday Apr 29, 2024 by Dow Jones
      Companies Mentioned: MVBF
      Loans originated $ 1,050,089 $ 1,020,128 $ 232,660 Loans closed $ 653,306 $ 724,453 $ 385,011 Loans sold $ 916,115 $ 639,788 $ 302,782 (1) Common equity less total goodwill and intangibles per common share, a non-U.S. GAAP measure. See the reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 17. (2) Annualized for the quarterly periods presented. (3) Net interest income as a percentage of average interest-earning assets. (4) Presented on a fully tax-equivalent basis, a non-GAAP financial measure. (5) Noninterest expense as a percentage of net interest income and noninterest income, a non-U.S. GAAP measure. (6) Noninterest expense as a percentage of average assets, a non-U.S. GAAP measure. (7) Charge-offs, less recoveries. (8) Excludes loans held-for-sale. (9) Information is related to Intercoastal Mortgage Company, LLC and Warp Speed Holdings LLC, entities in which MVB has an ownership interest that are accounted for as equity method investments. Non-GAAP Reconciliation: Net Interest Margin on a Full Tax-Equivalent Basis The following table reconciles, for the periods shown below, net interest margin on a fully tax-equivalent basis: Three Months Ended ---------------------------------------------- December 31, (Dollars in thousands) March 31, 2024 2023 March 31, 2023 ----------------------- -------------- -------------- -------------- Net interest margin - U.S. GAAP basis Net interest income $ 30,139 $ 31,107 $ 32,729 Average interest-earning assets $3,185,401 $3,054,958 $3,042,863 Net interest margin 3.81% 4.04% 4.36% Net interest margin - non-U.S. GAAP basis Net interest income $ 30,139 $ 31,107 $ 32,729 Impact of fully tax-equivalent adjustment 194 193 284 --------- --------- --------- Net interest income on a fully tax-equivalent basis $ 30,333 $ 31,299 $ 33,013 ========= ========= ========= Average interest-earning assets $3,185,401 $3,054,958 $3,042,863 Net interest margin on a fully tax-equivalent basis 3.83% 4.06% 4.40% Non-U.S. GAAP Reconciliation: Tangible Book Value per Common Share and Tangible Common Equity Ratio (Unaudited) (Dollars in thousands, except per share data) March 31, 2024 December 31, 2023 March 31, 2023 ------------- ----------------- ----------------- ------------------ Tangible Book Value per Common Share Goodwill $ 2,838 $ 2,838 $ 2,838 Intangibles 330 352 420 --------- --------- ---------- Total intangibles $ 3,168 3,190 3,258 ========= ========= ========== Total equity attributable to parent $ 291,850 289,384 271,131 Less: Total intangibles (3,168) (3,190) (3,258) --------- --------- ---------- Tangible common equity $ 288,682 $ 286,194 $ 267,873 ========= ========= ========== Tangible common equity $ 288,682 $ 286,194 $ 267,873 Common shares outstanding (000s) 12,841 12,758 12,653 Tangible book value per common share $ 22.48 $ 22.43 $ 21.17 Tangible Common Equity Ratio Total assets $ 3,547,390 $ 3,313,882 $ 3,551,876 Less: Total intangibles (3,168) (3,190) (3,258) --------- --------- ---------- Tangible assets $ 3,544,222 $ 3,310,692 $ 3,548,618 ========= ========= ========== Tangible assets $ 3,544,222 $ 3,310,692 $ 3,548,618 Tangible common equity $ 288,682 $ 286,194 $ 267,873 Tangible common equity ratio 8.1% 8.6% 7.5%

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