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 been awarded the title of Bank of the Year – United States for 2021 by The Banker magazine, a prestigious global finance publication. This recognition was announced during a virtual ceremony on December 1, where MVB Bank was the only institution to receive this honor. The awards celebrate banks that demonstrate exceptional performance, strategic initiatives, and effective responses to challenges such as the COVID-19 pandemic. MVB’s CEO, Larry F. Mazza, expressed gratitude to teammates, directors, clients, and shareholders for their support.
MVB Financial Corp. (NASDAQ: MVBF) has declared a quarterly cash dividend of
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MVB Financial Corp. ranks 29th on Fortune’s 2021 100 Fastest-Growing Companies list. This recognition highlights MVB's strong revenue, profit, and stock return performance over the three years ending April 30, 2021. Since joining The Nasdaq Capital Market® in December 2017, MVB has focused on technology in banking, enhancing its position in the online gaming industry and partnering with NYDIG for Bitcoin offerings. Companies must meet specific financial criteria to qualify for this prestigious list, emphasizing their commitment to growth and shareholder value.
MVB Financial Corp. (NASDAQ: MVBF) reported a net income of $11.8 million for Q3 2021, translating to $1.00 basic and $0.92 diluted earnings per share. The company saw a 7% increase in noninterest-bearing deposits, totaling $999.3 million. Fintech deposits reached $975.7 million, growing 27% quarter-over-quarter. Notably, MVB expanded its technological focus, entering a partnership with NYDIG for Bitcoin-related products and increasing its investment in Interchecks Technologies.
The tangible book value per share rose to $21.64, with a 17% dividend increase to $0.14 per share.
MVB Financial has announced a partnership with NYDIG to integrate Bitcoin into its Banking-as-a-Service (BaaS) offerings, allowing fintech clients to deliver Bitcoin products alongside traditional banking services. Currently serving over 50 fintech, payments, and gaming clients, MVB aims to leverage NYDIG's secure platform for enhanced accessibility to Bitcoin. The Victor platform will facilitate the integration, accelerating the process for fintechs to offer trading and rewards in Bitcoin. This collaboration is anticipated to position MVB's clients at the forefront of the evolving financial landscape.
MVB Financial Corp. has expanded its investment in Interchecks Technologies, Inc. from an initial stake to 16%. This company specializes in payment disbursement solutions and has seen notable success in the gaming sector. Since 2016, MVB's Fintech investment portfolio has achieved a cumulative IRR of nearly 200%. A management contract has also been established with Interchecks to advance the rollout of the GRAND digital account, aimed at enhancing payment solutions in the gaming and crypto sectors. This strategic move aligns with MVB's focus on the growing online gaming industry.
MVB Financial Corp. (NASDAQ: MVBF) has declared a quarterly cash dividend of $0.14 per share for shareholders of record as of September 1, 2021, payable on September 15, 2021. This represents a 16.67% increase from the previous quarter's dividend of $0.12. CEO Larry F. Mazza emphasized the company's strong capital base as a key factor in this decision, distinguishing MVB's growing cash dividend from many fintech peers. This marks the third quarterly dividend payment for 2021.
MVB Financial Corp. (NASDAQ: MVBF) reported a net income of $9.2 million for Q2 2021, translating to $0.79 per basic share. The company's noninterest-bearing deposits surged to $932.7 million, marking a 76% increase YoY. Net interest income reached $19.1 million, a 9% rise quarter-over-quarter. The tangible book value per share also rose to $20.54. Notably, MVB completed the acquisition of Trabian Technology, enhancing its Fintech initiatives. However, the net interest margin declined to 3.24% due to excess liquidity and PPP loans.
MVB Financial Corp. (NASDAQ: MVBF) announced the sale of four banking centers in Southern West Virginia to Summit Community Bank, a subsidiary of Summit Financial Group, Inc. The deal includes $167 million in deposits and $55 million in loans, resulting in a pre-tax gain of approximately $10 million. This sale will increase MVB's tangible book value per share by 3.2% as of March 31, 2021. The transaction allows MVB to focus on its core markets and expanding Fintech business, marking its exit from Southern West Virginia.