Mvb Finl Corp Stock Price, News & Analysis

MVB Financial Corp. (NASDAQ: MVBF) announced the acquisition of its wholly-owned subsidiary, Chartwell Compliance, by Ankura Consulting Group. This strategic move highlights MVB's commitment to generating shareholder value while enabling Chartwell to expand its services within Ankura's Global Anti-Financial Crime Practice. Established in 2011, Chartwell has significantly grown under MVB, tripling its revenue and headcount since 2019. MVB CEO Larry F. Mazza emphasized that this relationship has strengthened internal compliance resources, and Chartwell will continue to serve MVB as a client post-acquisition.

Ankura Consulting Group has announced the acquisition of Chartwell Compliance, a leading regulatory compliance firm and subsidiary of MVB Financial Corp (NASDAQ: MVBF). This acquisition enhances Ankura's Global Anti-Financial Crime Practice, aiming to better serve banking and Fintech clients with compliance services related to Bank Secrecy Act and Anti-Money Laundering. Chartwell, founded in 2011, specializes in regulatory compliance and has significantly grown its revenue and expertise since joining MVB in 2019. The integration of Chartwell's team into Ankura is expected to improve service delivery across global markets, particularly in regulatory navigation for diverse Fintech clients.

MVB Financial Corp. (NASDAQ: MVBF) has announced a quarterly cash dividend of $0.17 per share, consistent with the previous quarter. Shareholders of record as of March 1, 2023, will receive payment on March 15, 2023. The dividend marks the company's first for 2023. CEO Larry F. Mazza highlighted significant advancements under their MVB-F1: Success Loves Speed Strategic Plan, alongside challenges from wet track conditions. Key improvements include enhanced net interest margins and decreased expenses, contributing to positive operating leverage and a strong capital base.

MVB Financial Corp. (NASDAQ: MVBF) reported a net income of $6.5 million for Q4 2022, with earnings per share of $0.52 (basic) and $0.50 (diluted). Net interest income increased by 54.6% year-over-year to $33.7 million, driven by a tax-equivalent net interest margin of 4.57%. Noninterest income fell 56.5% to $6.3 million, largely due to cyclic headwinds in mortgage banking. The company also faced a 4.7% decline in total deposits, totaling $2.57 billion. Despite challenges, MVB remains focused on enhancing earnings per share and has received shareholder approval for its merger with Integrated Financial Holdings, expected to close in Q1 2023.

MVB Financial Corp. (MVBF) and Integrated Financial Holdings, Inc. (IFHI) have received shareholder approval for their merger agreement dated August 12, 2022. The merger involves IFHI merging into MVB, with MVB as the surviving entity. It is expected to close in Q1 2023, pending regulatory approvals. The merger aims to create a national leader in government-guaranteed lending, particularly in SBA and USDA loans. Both companies expressed confidence in the merger's potential to enhance shareholder value and operational efficiency.