Welcome to our dedicated page for Mvb Finl news (Ticker: MVBF), a resource for investors and traders seeking the latest updates and insights on Mvb Finl stock.
MVB Financial Corp. (NASDAQ: MVBF) is a West Virginia-based bank holding company for MVB Bank, Inc., serving individuals and corporate clients in the Mid-Atlantic region and beyond. The MVBF news feed on Stock Titan aggregates the company’s press releases and market-moving updates, giving readers a single view into its banking operations, Fintech initiatives and capital actions.
Recent news from MVB Financial has covered quarterly financial results, including trends in net interest income, net interest margin, loan growth, deposit growth and noninterest income. The company regularly reports on asset quality metrics such as nonperforming loans, criticized loans, classified loans, net charge-offs and the allowance for credit losses, providing insight into its risk profile and credit performance.
Investors following MVBF will also find announcements on strategic transactions and balance sheet management. Notable examples include the sale of substantially all assets and operations of Victor Technologies, Inc., a Fintech company incubated within MVB, and the implementation of an investment securities repositioning strategy involving the sale and redeployment of available-for-sale securities. These updates explain how MVB seeks to enhance earnings, manage interest rate risk and optimize capital.
The news stream further highlights shareholder-focused actions such as recurring quarterly cash dividends and stock repurchase programs authorized by the Board of Directors. Governance and leadership developments, including executive transitions and new appointments in key finance roles, are disclosed through both press releases and Form 8-K filings. By monitoring this page, readers can track how MVB Financial communicates its strategy across core banking, Fintech incubation, capital management and corporate governance over time.
MVB Financial Corp. (NASDAQ: MVBF) has completed a private placement of $40 million in 4.25% fixed to floating rate subordinated notes due 2030. The net proceeds will fund a modified Dutch Auction tender offer for its common stock and general corporate purposes. The tender offer began on November 17, 2020, and will end on December 18, 2020, unless extended. These unsecured notes will provide Tier 2 capital. Shareholders decide on tendering shares, with prices set between $18.00 and $20.25 each.
MVB Financial Corp. (NASDAQ: MVBF) has declared a quarterly cash dividend of $0.09 per share, payable on December 15, 2020, to shareholders of record on December 1, 2020. This marks the fourth quarterly dividend for 2020, totaling $0.36 per share for the year. The company reported growth in noninterest-bearing deposits, net income, and tangible book value, despite ongoing operational challenges. President and CEO Larry F. Mazza expressed commitment to maintaining shareholder success.
MVB Financial Corp. (Nasdaq: MVBF) has appointed W. Marston "Marty" Becker to its Board of Directors. Becker brings 35 years of executive experience in the insurance and reinsurance sector, including roles as CEO and chairman of QBE Insurance Group and Alterra Capital Holdings. His track record includes significant leadership in both public and private sectors. The board's chairman expressed optimism about Becker's unique perspective contributing to MVB's growth strategy.
MVB Financial Corp. (NASDAQ: MVBF) has initiated a modified Dutch auction tender offer to buy back up to $45 million of its common stock, priced between $18.00 and $20.25 per share. If fully subscribed, this could result in the purchase of 2.22 million to 2.5 million shares, representing 18.8% to 21.2% of outstanding shares. The tender offer is part of MVB's strategy to return capital to investors as the company transitions towards a technology-driven financial services model. The tender offer expires on December 18, 2020.
MVB Financial Corp. (NASDAQ: MVBF) reported a net income of $6.5 million for Q3 2020, translating to $0.53 per share. This represents a notable increase from $4.3 million in Q3 2019. Key highlights include a 12.1% rise in tangible book value per share to $18.66, and a significant increase in noninterest-bearing deposits, which reached $642.8 million, marking a 134% rise year-over-year. However, net interest income decreased by 13.3% from Q2 2020. The company completed strategic acquisitions to enhance its fintech offerings, and its strong capital ratios positioned it well amidst ongoing challenges.