Trade MVB Financial Corp - MVBF CFD

MVB Financial Company profile

About MVB Financial Corp

MVB Financial Corp. is a financial holding company. The Company operates principally through its subsidiary, MVB Bank, Inc. (the Bank). Its segments include CoRe banking, mortgage banking and financial holding company. The Bank’s operating subsidiaries include MVB Insurance, LLC (MVB Insurance), MVB Community Development Corporation (MVB CDC), ProCo Global, Inc. (Chartwell), Paladin Fraud, LLC (Paladin Fraud) and MVB Technology, LLC (MVB Technology). It offers various products and services, such as debit cards, cashier’s checks, safe deposit rental facilities and non-deposit investment services. Its loan portfolio includes commercial loans, consumer loans and real estate loans. Its commercial loans include commercial and industrial, commercial real estate and financial loans. Its real estate loans include residential real estate loans, home equity lines of credit and construction mortgages. Its consumer loans include installment loans and personal lines of credit.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, MVB Financial Corp interest income increased 4% to $83.4M. Net interest income after loan loss provision increased 28% to $83.4M. Net income applicable to common stockholders increased 6% to $39.1M. Net interest income after loan loss provision reflects Interest and fees on loans increase of 3% to $75.3M, Interest on tax-exempt loans and securit increase of 15% to $5.2M.

Equity composition

Common stock $1 Par, 03/11, 4M auth., 2,235,026 issd., less 47,218 shs. in Treas. @ $826K. Insiders own 28.98%. 01/11, 10% Stock dividend. 04/14, 2-for-1 Stock split