Mvb Finl Corp Stock Price, News & Analysis

MVB Financial Corp. (Nasdaq: MVBF) has appointed Vic Maculaitis to its Board of Directors. Maculaitis brings over 20 years of professional experience as an industry leader in Financial Crime Risk and Compliance. He is the Founder and Managing Partner of i3strategies®️, a market research and strategy consultancy serving global clients.

Maculaitis's career trajectory includes serving as a BSA/AML Officer at a $20 billion Chicago-based bank holding company at age 28, followed by management roles at Zions Bancorporation, First Republic Bank, and Banc of California. His educational background includes Executive Education in Corporate Governance from Harvard Business School, alumni status at UCLA Anderson's School of Management, and undergraduate degrees from Walsh University and The University of Akron.

MVB Financial Corp. (NASDAQ: MVBF) has announced its first quarterly dividend for 2025, declaring a cash dividend of $0.17 per share. The dividend will be payable on March 15, 2025, to shareholders of record as of March 1, 2025, maintaining the same dividend level as the previous quarter.

CEO Larry F. Mazza highlighted that Q4 2024 concluded a transitional year focused on simplifying growth strategy and strengthening the team. The company maintains a strategic focus on payments, aiming to deliver innovative solutions while supporting existing clients and growing revenue. Management expressed optimism about building loan pipelines and broader economic conditions.

MVB Financial Corp. (NASDAQ: MVBF) reported Q4 2024 net income of $9.4 million, or $0.73 basic and $0.72 diluted earnings per share, marking a $7.4 million increase from the previous quarter. Total noninterest income rose by $14.6 million to $21.3 million, primarily due to an $11.8 million gain from a sale-leaseback transaction.

The company's financial position showed mixed results with noninterest bearing deposits representing 34.9% of total deposits. Loans totaled $2.10 billion, declining 3.3% from Q3 2024, while deposits decreased 10.3% to $2.69 billion. The Community Bank Leverage Ratio improved to 11.2%, and tangible book value per share increased 0.7% to $23.37.

Notable appointments include Jeffrey Weidley as Chief Deposit Officer and Joe Rodriguez as Chief Risk Officer, supporting MVB's strategic focus on payments and long-term growth initiatives.

MVB Financial Corp. (NASDAQ: MVBF) has appointed Glen W. Herrick to its Board of Directors. Herrick brings over 30 years of experience in banking, Fintech, and financial services. His expertise includes strategy, finance, investing, planning, forecasting, investor relations, and corporate development.

Herrick's most recent role was as a senior advisor, following his position as CFO of Pathward Financial (formerly MetaBank), where he founded Pathward Ventures for Fintech investments. Previously, he spent 20 years at Wells Fargo in various finance roles, including SVP of Corporate Finance & Treasury and CFO of the $34 billion Education Finance Division.

His background includes experience as an industrial engineer at Ingersoll-Rand and service as a U.S. Army officer. Herrick holds a B.S. in Engineering Management from West Point, an MBA from the University of South Dakota, and is a Stonier Graduate School of Banking graduate.

MVB Financial Corp. (NASDAQ: MVBF) has appointed Jeffrey Weidley as Chief Deposit Officer. In his new role at MVB Bank, Weidley will be responsible for developing and implementing strategies to grow the bank's deposit base, enhance client relationships, and ensure profitability of deposit products.

Weidley brings significant experience from his previous role at Sandy Spring Bank, where he spent over 16 years overseeing deposit, lending, and digital initiatives across various departments. He holds an MBA from Loyola University Maryland, a B.S. in Business from Johns Hopkins University, and an Executive Leadership Certificate from The Wharton School. He currently serves as a faculty member at Stonier Graduate School of Banking.

MVB Financial Corp. (NASDAQ: MVBF) has announced a quarterly cash dividend of $0.17 per share for the fourth quarter of 2024. The dividend will be paid on December 15, 2024, to shareholders of record as of December 1, 2024. This payment maintains the same dividend level as the previous quarter. The company reports stable asset quality, an enhanced capital base, and growth in tangible book value per share, positioning itself for future growth and improved profitability.

MVB Financial Corp. (Nasdaq: MVBF) has appointed Joe Rodriguez as Chief Risk Officer to lead the Office of Risk Management, including risk, compliance and legal functions at MVB Bank. Rodriguez joins from Capital One, where he served as Executive Risk Officer for Financial Services. His extensive background includes roles at Walmart, Davis Wright Tremaine LLP, the Consumer Financial Protection Bureau (CFPB), and the U.S. Department of Justice. Rodriguez holds a B.S. in Accounting from the College of New Jersey and a J.D. from Harvard Law School.

MVB Financial Corp (NASDAQ: MVBF) reported Q3 2024 net income of $2.1 million, or $0.16 per share. The digital asset program exit reduced EPS by $0.29 in Q3. Total deposits increased 4.1% to $3.00 billion, driven by a 60.8% increase in payments-related deposits. Noninterest bearing deposits represent 33.0% of total deposits. Net interest income declined 3.4% to $26.8 million, with net interest margin at 3.61%. The loan-to-deposit ratio was 72.3%, and tangible book value per share increased 2.2% to $23.20.

MVB Financial Corp. (NASDAQ: MVBF) has declared a quarterly cash dividend of $0.17 per share for the third quarter of 2024, maintaining the same level as the previous quarter. The dividend is payable on September 15, 2024, to shareholders of record as of September 1, 2024. CEO Larry F. Mazza highlighted improved expense control and shareholder value creation in the form of tangible book value per share growth during the second quarter. The company also reported improved measures of capital strength despite facing seasonal considerations related to its Banking-as-a-Service (BaaS) operations and online gaming vertical. MVB emphasized the strength of its liquidity position, even with low seasonality and the exit of digital asset program account relationships.