MVB Financial Corp. Announces Second Quarter 2026 Results

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Key Terms

fte net interest margin financial

Fully taxable-equivalent (FTE) net interest margin is a bank metric that shows the difference between interest earned on loans and investments and interest paid on deposits and borrowings, adjusted as if tax-exempt income were taxable. It is expressed as a percentage of the bank’s interest-earning assets, making yields on tax-free and taxable instruments comparable. For investors, it helps compare how much core lending and investment activity earns after accounting for tax treatment, like comparing apples priced the same way.

noninterest-bearing deposits financial

Noninterest-bearing deposits are bank balances—typically checking accounts and some demand deposits—that do not pay interest to the holder. Think of them as free storage boxes for customer cash: they provide banks with low-cost, stable funding that boosts profit margins because the bank can lend or invest that money without paying the depositor. Investors watch these deposits because higher levels reduce a bank’s funding costs and help its earnings stability.

nonperforming loans financial

Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.

loan-to-deposit ratio financial

Loan-to-deposit ratio measures how much a bank has lent out compared with the money customers have deposited, expressed as a percentage. Think of it like the share of a household’s savings that has been loaned to others: a higher ratio can boost earnings but reduce cash on hand and increase risk, while a lower ratio means more liquidity but potentially lower returns—key for investors assessing a bank’s balance of profit and safety.

allowance for credit losses financial

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

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07/28/2026 - 04:00 PM

Company to Host a Conference Call and Webcast at 5:00 PM ET

FAIRMONT, W.Va.--(BUSINESS WIRE)-- 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 second quarter of 2026. The Fintech-enabled bank powering payments, banking-as-a-service and gaming programs for leading Fintech companies nationwide, reported net income of $12.3 million, or $0.95 basic and $0.93 diluted earnings per share, for the second quarter of 2026.

Second Quarter 2026 Highlights (Compared to First Quarter 2026)

Net income of $12.3 million, up significantly compared to both Q1 2026 and Q2 2025.

Loan balances up 3.0%, or 12.1% annualized, marking the fifth consecutive quarter of loan growth.

Balance sheet deposits up 7.4%, or 29.5% annualized, including 5.7% growth in noninterest-bearing deposits driven by payments-related deposits.

Exclusive of the previously disclosed $10.0 million pre-tax gain related to an existing Fintech investment recognized in the second quarter, noninterest income up 6.7%, led by 18.1% growth in payment card and service charge income.

Net interest margin on a fully tax-equivalent (“FTE”) basis, a non-U.S. GAAP financial measure¹, expanded 43 basis points; Core FTE net interest margin, a non-U.S. GAAP financial measure¹, up 14 basis points to 3.87%.

From Larry F. Mazza, President and Chief Executive Officer, MVB Financial:

“The strong second quarter results reflected continued progress and momentum across both our core banking franchise and our Fintech banking platform. Loan and deposit growth remained solid, net interest income improved and we saw encouraging momentum across our payments business, contributing to both fee income growth and deposit generation during the quarter. These results demonstrate our diversified business model’s strength and our team’s disciplined execution of our strategy.

“We also successfully resolved our largest nonperforming loan during the quarter through full repayment, improving our credit profile, while benefiting from an improvement in second quarter net interest income. Additionally, the underlying trends across our core banking franchise remained positive as we continued to grow loans, expand our deposit base, strengthen our funding and margin profile and build our Fintech partnership pipeline.

“As previously disclosed, we also recognized a gain during the quarter related to an existing Fintech investment. Together with the successful monetization of our internally incubated Victor platform last year, these transactions demonstrate our ability to both incubate and invest in innovative Fintech businesses. These activities continue to generate shareholder value, while enabling ongoing investment across the business, balance sheet optimization and the long-term growth of the Company’s earnings power.”

SECOND QUARTER 2026 HIGHLIGHTS

Net Interest Income, Net Interest Margin and Balance Sheet Trends
- FTE net interest income, a non-U.S. GAAP financial measure¹, totaled $32.4 million, up $3.8 million, or 13.4%, from prior quarter, primarily reflecting continued loan growth, a lower overall cost of funds and interest income associated with the successful resolution of the Company’s largest nonperforming loan. Excluding the interest income associated with the loan payoff, FTE net interest income was up 5.4% from the prior quarter.
- FTE net interest margin, a non-U.S. GAAP financial measure¹, increased to 4.16%, up from 3.73% in the prior quarter. The increase primarily reflected continued improvement in the Company’s funding profile, including growth in noninterest-bearing deposits and the full quarter benefit of previously disclosed balance sheet optimization initiatives completed during the first quarter of 2026, loan growth and interest income associated with the resolution of the Company’s largest nonperforming loan. Excluding the aforementioned loan payoff, the core FTE net interest margin, a non-U.S. GAAP financial measure¹, was approximately 3.87%, representing 14 basis points of expansion.
- Total loan balances up $72.7 million, or 3.0%, from the prior quarter to $2.48 billion, reflecting improved market conditions, and representing the fifth consecutive quarter of loan growth.
- Total deposits were $3.11 billion as of June 30, 2026, an increase of $214.0 million, or 7.4%, from the prior quarter-end, including a $58.1 million increase in noninterest-bearing deposits. Growth in payments-related deposits contributed to quarter-end balances, helping diversify the Company’s funding base during what has historically been a seasonally softer quarter for deposit growth particularly in gaming and certain banking-as-a-service relationships.
- Noninterest-bearing deposits represented 34.4% of total deposits as of June 30, 2026, compared to 34.9% as of the prior quarter-end. The loan-to-deposit ratio was 79.6% as compared to 83.0% at the prior quarter-end.
Noninterest Income and Expense
- Total noninterest income was $18.8 million, compared to $8.2 million in the prior quarter. The increase primarily reflected the previously disclosed $10.0 million pre-tax gain related to an existing Fintech investment. Excluding this gain, core fee income was up 6.7% from the prior quarter, led by continued growth in payment card and service charge income.
- The Company continued to execute its Fintech banking platform strategy during the quarter through new client onboarding and continued progress across its payment business, contributing to growth in both payments-related deposits and payment card revenue.
- Total noninterest expense was $30.4 million, compared to $28.1 million in the prior quarter, an increase of 8.2%. The increase included approximately $0.6 million in nonrecurring expenses, annual merit increases, higher incentive compensation accruals and continued investment in strategic growth initiatives, including the build out of the Company’s specialty lending platform and ongoing technology and artificial intelligence initiatives.
Asset Quality and Capital
- Nonperforming loans totaled $29.2 million, or 1.2% of total loans, as of June 30, 2026, compared to $34.7 million, or 1.4% of total loans, as of the prior quarter-end. The decline was driven by the successful resolution of the Company’s largest nonperforming loan during the quarter, partially offset by new nonperforming loans, which did not reflect any notable industry or geographic concentration.
- Criticized loans as a percentage of total loans were 3.1% as of June 30, 2026, compared to 3.7% as of March 31, 2026. Classified loans as a percentage of total loans were 1.9%, compared to 2.2% as of the prior quarter end.
- Net charge-offs were $1.4 million, or 0.23% annualized of average loans, for the second quarter, compared to $1.5 million, or 0.26% annualized, for the prior quarter.
- Provision for credit losses totaled $4.7 million, compared to $1.9 million for the prior quarter. The increase in provision for credit losses reflected continued growth of the loan portfolio, specific reserves associated with a small number of isolated credits, as well as updates to the allowance methodology based on current economic conditions and qualitative factors. The allowance for credit losses for loans increased to 1.14% of total loans at June 30, 2026, compared to 0.94% at the prior quarter-end.
- The Community Bank Leverage Ratio, Tier 1 Risk-Based Capital Ratio and MVB Bank’s Total Risk-Based Capital Ratio were 10.3%, 12.2% and 13.2%, respectively, at June 30, 2026, compared to 10.1%, 12.6% and 13.5%, respectively, at the prior quarter-end.
- The tangible common equity ratio, a non-U.S. GAAP financial measure¹, was 9.7% as of June 30, 2026, compared to 10.0% as of March 31, 2026 and 9.3% as of June 30, 2025.
- During the quarter, the Company repurchased 48,432 shares of common stock for approximately $1.2 million at an average price of $25.56 per share under its previously authorized share repurchase program.
- Book value per common share and tangible book value per common share, a non-U.S. GAAP financial measure¹, were $26.61 and $26.52, respectively, at June 30, 2026, compared to $26.07 and $25.98, respectively, at the prior quarter-end.

¹See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure later in the release.

Conference Call and Webcast

The Company will host a conference call and webcast at 5:00 p.m. Eastern Time today, July 28, 2026, to discuss its quarterly financial results. The call can be accessed via telephone at 877-451-6152 (domestic) or 201-389-0879 (international). A recorded replay can be accessed through August 11, 2026, by dialing 844-512-2921 (domestic) or 412-317-6671 (international); access code: 13760259. Additionally, interested parties can listen to a live webcast of the call on the Company's website at ir.mvbbanking.com. An archived version of the webcast will be available in the same location shortly after the live call has ended.

About MVB Financial Corp.

MVB Financial Corp. (Nasdaq: MVBF) is an innovative bank powering Fintech solutions in payments, card issuance and online gaming programs for leading Fintech companies nationwide, while providing traditional retail and commercial banking services within established markets. MVB’s comprehensive platform includes money movement solutions across all modalities and embedded finance capabilities. MVB combines proven Fintech builder/incubator capabilities, innovative culture, regulatory expertise, core banking and AI-driven operational efficiency to enable Fintech partners to navigate complex regulatory requirements while accelerating time-to-market. For more information about MVB, please visit ir.mvbbanking.com.

Forward-Looking Statements

MVB Financial has made forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in this press release that are intended to be covered by the protections provided under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations about the future and are subject to risks and uncertainties. Forward-looking statements include, without limitation, information concerning possible or assumed future results of operations of the Company and its subsidiaries. Forward-looking statements can be identified by the use of words such as “may,” “could,” “should,” “would,” “will,” “plans,” “believes,” “estimates,” “expects,” “anticipates,” “intends,” “continues” or the negative of those terms or similar expressions. Note that many factors could affect the future financial results of the Company and its subsidiaries, both individually and collectively, and could cause those results to differ materially from those expressed in forward-looking statements. Therefore, undue reliance should not be placed upon any forward-looking statements. Those factors include but are not limited to: market, economic, operational, liquidity and credit risk; changes in market interest rates; inability to successfully execute business plans, including strategies related to investments in Fintech companies; competition; industry factors and volatility and disruption in local, national and international political and economic conditions, such as economic slowdowns or recessions, nationally and in the markets in which we operate and other developments such as wars, natural disasters, epidemics or pandemics, military actions, terrorists attacks or geopolitical conflict, and any governmental or societal responses thereto; changes in demand for loan products and deposit flow; changes in deposit classifications; operational risks and risk management failures; and government regulation and supervision. Additional factors that may cause actual results to differ materially from those described in the forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as well as its other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. Except as required by law, the Company disclaims any obligation to update, revise or correct any forward-looking statements.

Accounting standards require the consideration of subsequent events occurring after the balance sheet date for matters that require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s financial statements when filed with the SEC. Accordingly, the consolidated financial information in this announcement is subject to change.

Non-U.S. GAAP Financial Measures

This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management uses these non-U.S. GAAP financial measures in its analysis of the Company’s performance. These measures should not be considered a substitute for GAAP basis measures, nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of non-U.S. GAAP financial measures that exclude the impact of specified items provides useful supplemental information that is essential to a proper understanding of the Company’s financial condition and results. Non-U.S. financial GAAP measures are not formally defined under GAAP, and other entities may use calculation methods that differ from those used by the Company. As a complement to GAAP financial measures, management believes these non-U.S. GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-U.S. GAAP financial measures. See the tables below for a reconciliation of these non-U.S. GAAP financial measures to the most directly comparable GAAP financial measures.

MVB Financial Corp. Financial Highlights Consolidated Statements of Income (Unaudited) (Dollars in thousands, except per share data)
	Quarterly						Year-to-Date
	2026		2026		2025		2026		2025
	Second Quarter		First Quarter		Second Quarter		2026		2025
Interest income	$	48,583	$	44,774	$	42,384	$	93,357	$	85,613
Interest expense		16,309		16,322		16,604		32,631		33,157
Net interest income		32,274		28,452		25,780		60,726		52,456
Provision for credit losses		4,677		1,854		1,990		6,531		2,167
Net interest income after provision for credit losses		27,597		26,598		23,790		54,195		50,289

Total noninterest income		18,796		8,209		7,945		27,005		14,953

Noninterest expense:
Salaries and employee benefits		17,641		16,152		15,801		33,793		32,213
Other expense		12,769		11,960		12,768		24,729		25,057
Total noninterest expenses		30,410		28,112		28,569		58,522		57,270

Income before income taxes		15,983		6,695		3,166		22,678		7,972
Income taxes		3,732		1,511		1,164		5,243		2,411
Net income, before noncontrolling interest		12,251		5,184		2,002		17,435		5,561
Net loss attributable to noncontrolling interest		—		—		—		—		18
Net income available to common shareholders	$	12,251	$	5,184	$	2,002	$	17,435	$	5,579

Earnings per share - basic	$	0.95	$	0.41	$	0.16	$	1.36	$	0.43
Earnings per share - diluted	$	0.93	$	0.39	$	0.15	$	1.32	$	0.42

Noninterest Income (Unaudited) (Dollars in thousands)
	Quarterly								Year-to-Date
	2026			2026		2025				2026			2025
	Second Quarter			First Quarter		Second Quarter				2026			2025
Payment card and service charge income	$	6,008		$	5,086	$	4,653		$	11,094		$	9,638
Investment portfolio gains (losses)		11,269			669		(166	)		11,938			(474	)
Equity method investments income		1,834			1,966		2,315			3,800			2,960
Gain on divestiture activity		—			—		—			—			608
Loss on derivatives		(677	)		—		—			(677	)		—
Other noninterest income		362			488		1,143			850			2,221
Total noninterest income	$	18,796		$	8,209	$	7,945		$	27,005		$	14,953

Condensed Consolidated Balance Sheets (Unaudited) (Dollars in thousands)
	June 30, 2026			March 31, 2026			June 30, 2025
Cash and cash equivalents	$	312,596		$	177,635		$	399,379
Investment securities available-for-sale		429,578			421,729			396,555
Equity securities		62,503			51,459			43,923
Loans receivable		2,476,393			2,403,739			2,153,309
Less: Allowance for credit losses		(28,217	)		(22,605	)		(20,785	)
Loans receivable, net		2,448,176			2,381,134			2,132,524
Premises and equipment, net		9,935			10,071			10,877
Other assets		283,065			280,270			240,750
Total assets	$	3,545,853		$	3,322,298		$	3,224,008

Noninterest-bearing deposits	$	1,069,207		$	1,011,098		$	1,050,104
Interest-bearing deposits		2,042,169			1,886,246			1,754,319
Subordinated debt		34,072			34,046			73,912
Revolving line of credit		20,000			20,000			—
Other liabilities		35,862			35,988			43,358
Total liabilities		3,201,310			2,987,378			2,921,693

Common stock		14,323			14,174			13,877
Additional paid-in capital		172,940			172,397			166,078
Retained earnings		203,497			193,413			173,350
Accumulated other comprehensive loss		(18,039	)		(18,061	)		(27,869	)
Treasury stock		(28,178	)		(27,003	)		(23,121	)
Total stockholders’ equity		344,543			334,920			302,315
Total liabilities and stockholders’ equity	$	3,545,853		$	3,322,298		$	3,224,008

Average Balances and Interest Rates (Unaudited) (Dollars in thousands)
	Three Months Ended								Three Months Ended								Three Months Ended
	June 30, 2026								March 31, 2026								June 30, 2025
	Average Balance			Interest Income/ Expense			Yield/ Cost		Average Balance			Interest Income/ Expense			Yield/ Cost		Average Balance			Interest Income/ Expense			Yield/ Cost
Assets
Interest-bearing balances with banks	$	252,962		$	2,289		3.63	%	$	340,906		$	3,031		3.61	%	$	332,265		$	3,592		4.34	%
Investment securities:
Taxable		371,891			4,790		5.17			361,901			4,409		4.94			305,600			2,828		3.71
Tax-exempt ¹		55,637			538		3.88			56,737			557		3.98			96,135			819		3.42
Loans: ²
Commercial		1,801,797			33,481		7.45			1,774,717			30,232		6.91			1,488,610			28,371		7.64
Tax-exempt ¹		2,327			27		4.65			2,286			25		4.44			2,719			29		4.28
Real estate		490,000			5,061		4.14			487,773			4,883		4.06			538,595			5,826		4.34
Consumer		150,595			2,516		6.70			84,249			1,758		8.46			61,022			1,096		7.20
Total loans		2,444,719			41,085		6.74			2,349,025			36,898		6.37			2,090,946			35,322		6.78
Total earning assets		3,125,209			48,702		6.25			3,108,569			44,895		5.86			2,824,946			42,561		6.04
Less: Allowance for credit losses		(22,877	)							(21,829	)							(19,459	)
Cash and due from banks		9,742								9,947								8,215
Other assets		344,238								336,744								300,378
Total assets	$	3,456,312							$	3,433,431							$	3,114,080

Liabilities
Deposits:
NOW	$	798,433		$	6,388		3.21	%	$	709,743		$	5,217		2.98	%	$	658,490		$	4,966		3.02	%
Money market checking		582,385			3,641		2.51			542,170			3,072		2.30			358,968			2,284		2.55
Savings		149,211			1,062		2.85			149,883			1,197		3.24			117,123			920		3.15
IRAs		6,580			51		3.11			7,137			60		3.41			7,414			68		3.68
CDs		447,766			4,483		4.02			550,973			5,764		4.24			657,367			7,545		4.60
Total interest-bearing deposits		1,984,375			15,625		3.16			1,959,906			15,310		3.17			1,799,362			15,783		3.52
Repurchase agreements and federal funds sold		4,549			23		2.03			4,186			21		2.03			4,081			24		2.36
FHLB and other borrowings		1,321			9		2.73			56			1		7.24			8			—		—
Subordinated debt		34,063			314		3.70			60,707			858		5.73			73,890			797		4.33
Revolving line of credit		20,000			338		6.78			7,556			132		7.08			—			—		—
Total interest-bearing liabilities		2,044,308			16,309		3.20			2,032,411			16,322		3.26			1,877,341			16,604		3.55
Noninterest-bearing demand deposits		1,030,279								1,011,690								886,657
Other liabilities		37,872								50,811								44,021
Total liabilities		3,112,459								3,094,912								2,808,019

Stockholders’ equity
Common stock		14,221								14,117								13,825
Paid-in capital		172,231								171,040								165,611
Treasury stock		(27,596	)							(27,003	)							(18,029	)
Retained earnings		202,957								193,468								173,394
Accumulated other comprehensive loss		(17,960	)							(13,103	)							(28,740	)
Total stockholders’ equity		343,853								338,519								306,061
Total liabilities and stockholders’ equity	$	3,456,312							$	3,433,431							$	3,114,080

Net interest income and margin (tax-equivalent)¹				$	32,393		4.16	%				$	28,573		3.73	%				$	25,957		3.69	%
Less: Tax-equivalent adjustments					(119	)							(121	)							(177	)
Net interest income and margin				$	32,274		4.14	%				$	28,452		3.71	%				$	25,780		3.66	%
¹In order to make pre-tax income and resultant yields on tax-exempt loans and investment securities comparable to those on taxable loans and investment securities, a tax-equivalent adjustment has been computed using a Federal tax rate of 21% for the periods presented, which is a non-U.S. GAAP financial measure. See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 13. ²Non-accrual loans are included in total loan balances, lowering the effective yield for the portfolio in the aggregate.

	Six Months Ended								Six Months Ended
	June 30, 2026								June 30, 2025
	Average Balance			Interest Income/ Expense			Yield/ Cost		Average Balance			Interest Income/ Expense			Yield/ Cost
Assets
Interest-bearing balances with banks	$	296,691		$	5,320		3.62	%	$	388,574		$	8,326		4.32	%
Investment securities:
Taxable		366,924			9,199		5.06			316,577			5,586		3.56
Tax-exempt ¹		56,184			1,095		3.93			99,050			1,676		3.41
Loans: ²
Commercial		1,780,876			63,713		7.21			1,490,414			56,391		7.63
Tax-exempt ¹		2,306			53		4.63			2,772			59		4.29
Real estate		488,893			9,944		4.10			542,330			11,688		4.35
Consumer		125,060			4,274		6.89			61,984			2,251		7.32
Total loans		2,397,135			77,984		6.56			2,097,500			70,389		6.77
Total earning assets		3,116,934			93,598		6.06			2,901,701			85,977		5.98
Less: Allowance for loan losses		(22,356	)							(19,544	)
Cash and due from banks		9,844								7,601
Other assets		340,511								314,450
Total assets	$	3,444,933							$	3,204,208

Liabilities
Deposits:
NOW	$	785,269		$	11,605		2.98	%	$	589,361		$	8,100		2.77	%
Money market checking		562,389			6,713		2.41			347,420			4,377		2.54
Savings		149,545			2,259		3.05			103,599			1,502		2.92
IRAs		6,857			111		3.26			7,567			149		3.97
CDs		499,084			10,247		4.14			735,639			17,338		4.75
Total interest-bearing deposits		2,003,144			30,935		3.11			1,783,586			31,466		3.56
Repurchase agreements and federal funds sold		4,369			45		2.08			3,627			39		2.17
FHLB and other borrowings		692			9		2.62			2,547			58		4.59
Senior term loan		13,812			470		6.86			—			—		—
Subordinated debt		47,311			1,172		5.00			73,859			1,594		4.35
Total interest-bearing liabilities		2,069,328			32,631		3.18			1,863,619			33,157		3.59
Noninterest-bearing demand deposits		990,099								989,138
Other liabilities		44,306								46,339
Total liabilities		3,103,733								2,899,096

Stockholders’ equity
Common stock		14,169								13,811
Paid-in capital		171,639								165,291
Treasury stock		(27,301	)							(17,389	)
Retained earnings		198,238								171,890
Accumulated other comprehensive loss		(15,545	)							(28,509	)
Total stockholders’ equity attributable to parent		341,200								305,094
Noncontrolling interest		—								18
Total stockholders’ equity		341,200								305,112
Total liabilities and stockholders’ equity	$	3,444,933							$	3,204,208

Net interest income and margin (tax-equivalent) ¹				$	60,967		3.94	%				$	52,820		3.67	%
Less: Tax-equivalent adjustments					(241	)							(364	)
Net interest income and margin				$	60,726		3.93	%				$	52,456		3.65	%
¹ In order to make pre-tax income and resultant yields on tax-exempt loans and investment securities comparable to those on taxable loans and investment securities, a tax-equivalent adjustment has been computed using a Federal tax rate of 21% for the periods presented, which is a non-U.S. GAAP financial measure. See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 13. ²Non-accrual loans are included in total loan balances, lowering the effective yield for the portfolio in the aggregate.

Selected Financial Data (Unaudited) (Dollars in thousands, except share and per share data)
	Quarterly									Year-to-Date
		2026			2026			2025			2026			2025
	Second Quarter			First Quarter			Second Quarter				2026			2025
Earnings and Per Share Data:
Net income	$	12,251		$	5,184		$	2,002		$	17,435		$	5,579
Earnings per share - basic	$	0.95		$	0.41		$	0.16		$	1.36		$	0.43
Earnings per share - diluted	$	0.93		$	0.39		$	0.15		$	1.32		$	0.42
Cash dividends paid per common share	$	0.17		$	0.17		$	0.17		$	0.34		$	0.34
Book value per common share	$	26.61		$	26.07		$	23.78		$	26.61		$	23.78
Tangible book value per common share ¹	$	26.52		$	25.98		$	23.68		$	26.52		$	23.68
Weighted-average shares outstanding - basic		12,869,947			12,795,271			12,912,113			12,832,815			12,930,046
Weighted-average shares outstanding - diluted		13,186,672			13,191,405			13,121,436			13,188,996			13,151,616

Performance Ratios:
Return on average assets ²		1.4	%		0.6	%		0.3	%		1.0	%		0.3	%
Return on average equity ²		14.3	%		6.1	%		2.6	%		10.2	%		3.7	%
Net interest margin ^{3 4}		4.16	%		3.73	%		3.69	%		3.94	%		3.67	%
Efficiency ratio ⁵		59.5	%		76.7	%		84.7	%		66.7	%		85.0	%
Overhead ratio ^{2 6}		3.5	%		3.3	%		3.7	%		3.4	%		3.6	%
Equity to assets		9.7	%		10.1	%		9.4	%		9.7	%		9.4	%

Asset Quality Data and Ratios:
Charge-offs	$	1,773		$	1,890		$	628		$	3,663		$	2,015
Recoveries	$	391		$	392		$	445		$	783		$	975
Net loan charge-offs to total loans ^{2, 7}		0.23	%		0.26	%		0.04	%		0.24	%		0.10	%
Allowance for credit losses	$	28,217		$	22,605		$	20,785		$	28,217		$	20,785
Allowance for credit losses to total loans		1.14	%		0.94	%		0.97	%		1.14	%		0.97	%
Nonperforming loans	$	29,233		$	34,740		$	21,055		$	29,233		$	21,055
Nonperforming loans to total loans		1.2	%		1.4	%		1.0	%		1.2	%		1.0	%

Mortgage Company Equity Method Investees Production Data⁸:
Mortgage pipeline	$	1,236,366		$	1,126,262		$	1,128,738		$	1,236,366		$	1,128,738
Loans originated	$	1,491,404		$	1,406,921		$	1,352,603		$	2,898,326		$	2,663,305
Loans closed	$	927,934		$	936,789		$	882,361		$	1,864,724		$	1,770,383
Loans sold	$	820,716		$	747,829		$	699,036		$	1,568,546		$	1,343,718
¹ Common equity, less total goodwill and intangibles per common share, a non-U.S. GAAP financial measure. See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 13. ² Annualized for the quarterly periods presented. ³Net interest income as a percentage of average interest-earning assets. ⁴ Presented on a fully tax-equivalent basis, a non-U.S. GAAP financial measure. ⁵ Noninterest expense as a percentage of net interest income and noninterest income. ⁶ Noninterest expense as a percentage of average assets. ⁷ Ratio of charge-offs, less recoveries to total loans. ⁸Information 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-U.S. GAAP Reconciliation: Net Interest Income and Net Interest Margin on a Fully Tax-Equivalent Basis The following table reconciles, for the periods shown below, net interest income and net interest margin on a fully tax-equivalent basis:
	Three Months Ended									Six Months Ended
(Dollars in thousands)	June 30, 2026			March 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025
Net interest margin - U.S. GAAP basis
Net interest income	$	32,274		$	28,452		$	25,780		$	60,726		$	52,456
Average interest-earning assets	$	3,125,209		$	3,108,569		$	2,824,946		$	3,116,934		$	2,901,701
Net interest margin		4.14	%		3.71	%		3.66	%		3.93	%		3.65	%

Net interest margin - non-U.S. GAAP basis
Net interest income	$	32,274		$	28,452		$	25,780		$	60,726		$	52,456
Impact of fully tax-equivalent adjustment		119			121			177			241			364
Net interest income on a fully tax-equivalent basis	$	32,393		$	28,573		$	25,957		$	60,967		$	52,820
Average interest-earning assets	$	3,125,209		$	3,108,569		$	2,824,946		$	3,116,934		$	2,901,701
Net interest margin on a fully tax-equivalent basis		4.16	%		3.73	%		3.69	%		3.94	%		3.67	%

Core net interest margin - non-U.S. GAAP basis
Net interest income on a fully tax-equivalent basis	$	32,393		$	28,573		$	25,957		$	60,967		$	52,820
Less: interest income from non-recurring items		(2,272	)		—			—			(2,272	)		—
Core net interest income on a fully tax-equivalent basis	$	30,121		$	28,573		$	25,957		$	58,695		$	52,820
Average interest-earning assets	$	3,125,209		$	3,108,569		$	2,824,946		$	3,116,934		$	2,901,701
Adjusted net interest margin on a fully tax-equivalent basis		3.87	%		3.73	%		3.69	%		3.80	%		3.67	%

Non-U.S. GAAP Reconciliation: Tangible Book Value per Common Share and Tangible Common Equity Ratio (Unaudited) (Dollars in thousands, except per share data)
	June 30, 2026			March 31, 2026			June 30, 2025
Tangible Book Value per Common Share
Goodwill	$	1,200		$	1,200		$	1,200
Total intangibles	$	1,200			1,200			1,200

Total equity attributable to parent	$	344,543			334,920			302,315
Less: Total intangibles		(1,200	)		(1,200	)		(1,200	)
Tangible common equity	$	343,343		$	333,720		$	301,115

Tangible common equity	$	343,343		$	333,720		$	301,115
Common shares outstanding (000s)		12,947			12,847			12,715
Tangible book value per common share	$	26.52		$	25.98		$	23.68

Tangible Common Equity Ratio
Total assets	$	3,545,853		$	3,322,298		$	3,224,008
Less: Total intangibles		(1,200	)		(1,200	)		(1,200	)
Tangible assets	$	3,544,653		$	3,321,098		$	3,222,808

Tangible assets	$	3,544,653		$	3,321,098		$	3,222,808
Tangible common equity	$	343,343		$	333,720		$	301,115
Tangible common equity ratio		9.7	%		10.0	%		9.3	%

View source version on businesswire.com: https://www.businesswire.com/news/home/20260728945706/en/

Questions or comments concerning this earnings release should be directed to:

MVB Financial Corp.
Michael R. Sumbs, Executive Vice President and Chief Financial Officer
(844) 682-2265
msumbs@mvbbanking.com

Amy Baker, VP, Corporate Communications and Marketing
(844) 682-2265
abaker@mvbbanking.com

Source: MVB Financial Corp.

MVB Financial Corp. Announces Second Quarter 2026 Results

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