Financial Performance - MVB Financial reported net income of $2.1 million, or $0.16 per share, for Q3 2024[1]. - Net income available to common shareholders for Q3 2024 was $2,080 million, compared to $4,089 million in Q2 2024, reflecting a decrease of 49.1%[46]. - Year-to-date net income reached $10,651,000 with an EPS of $0.83, while the same period in 2023 reported $23,321,000 and $1.15 respectively[52]. - Net income for Q3 2024 was $2,080,000 with earnings per share (EPS) of $0.16, compared to $4,089,000 and $0.32 in Q2 2024[52]. - The provision for credit losses was $1.0 million for the third quarter of 2024, compared to a release of allowance of $0.2 million a year earlier[35]. - The total income before income taxes for the nine months ended September 30, 2024, was $14,111,000, a decrease of 10.5% compared to the same period last year[47]. Deposits and Loans - Total deposits increased by 4.1%, or $118.8 million, to $3.00 billion compared to the prior quarter, driven by a 60.8% increase in payments-related deposits[7]. - Loans totaled $2.17 billion, a decline of 1.6%, or $35.5 million, from the previous quarter, reflecting slower loan growth[26]. - Off-balance sheet deposits increased by 6.3%, or $85.2 million, to $1.44 billion compared to the previous quarter, reflecting proactive management of deposit networks[30]. - Total loans originated in Q3 2024 amounted to $1,469,223,000, an increase from $1,383,405,000 in Q2 2024[52]. Interest Income and Margin - Net interest income on a fully tax-equivalent basis declined by 3.4%, or $0.9 million, to $26.8 million compared to the prior quarter[9]. - Net interest income for the third quarter of 2024 was $26,585 million, down from $29,865 million in the third quarter of 2023[42]. - The net interest margin for Q3 2024 was 3.59%, down from 3.73% in Q2 2024 and 3.87% in Q3 2023[53]. - The yield on taxable investment securities was 2.84%, while tax-exempt securities yielded 3.29%[49]. Noninterest Income and Expenses - Total noninterest income decreased by 6.8%, or $0.5 million, to $6.7 million compared to the prior quarter, primarily due to lower wire transfer fees[12]. - Total noninterest income for Q3 2024 was $6,657 million, compared to $7,142 million in Q2 2024, reflecting a decrease of 6.8%[43]. - Noninterest expenses for Q3 2024 totaled $29,485 million, an increase from $28,930 million in Q2 2024, representing a rise of 1.9%[46]. Asset Quality and Capital Ratios - Nonperforming loans rose to $28.6 million, or 1.3% of total loans, as of September 30, 2024, from $10.6 million, or 0.5% of total loans, a year earlier[33]. - The allowance for credit losses for loans was 0.99% of total loans as of September 30, 2024, down from 1.1% a year earlier[35]. - MVB's Tier 1 Risk-Based Capital Ratio increased to 14.9% as of September 30, 2024, compared to 14.0% a year ago[31]. - The Community Bank Leverage Ratio was 10.9%, up from 10.7% at the prior quarter end, indicating enhanced capital strength[14]. Shareholder Returns - The Company issued a quarterly cash dividend of $0.17 per share for the third quarter of 2024, consistent with the previous quarters[32]. - The tangible book value per share increased by 2.2% to $23.20 from the prior quarter[2]. - Total equity attributable to the parent increased to $303,086,000 in Q3 2024 from $296,625,000 in Q2 2024[54].

This quarterly report represents an earnings surprise of -22.50%. A quarter ago, it was expected that this company would post earnings of $0.41 per share when it actually produced earnings of $0.34, delivering a surprise of -17.07%. MVB Financial, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $34.71 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 9.13%. This compares to year-ago revenues of $36 million. The company has topped cons ...

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. MVB Financial Corp. Financial Highlights Consolidated Statements of Income (Unaudited) (Dollars in thousands, except per share data) | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------|-------------|----------------------------------------------------------------|------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission File Number: 001-38314 MVB Financial Corp. (Exact name of registrant as specified in its charter) | West Virginia | | 20-003446 ...

Exhibit 99.1 N E W S R E L E A S E MVB Financial Corp. Announces First Quarter 2024 Results (FAIRMONT, WV) April 29, 2024 – 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 first quarter of 2024, with reported net income of $4.5 million, or $0.35 basic and $0.34 diluted earnings per share. First Quarter 2024 Highlights As Compared to Fourth Quarter 2023 Total revenue increased 6.8%, or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-38314 MVB Financial Corp. (Exact name of registrant as specified in its charter) West Virginia 20-0034461 (Stat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission File Number: 001-38314 MVB Financial Corp. (Exact name of registrant as specified in its charter) | West Virginia | | 20-00 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission File Number: 001-38314 MVB Financial Corp. (Exact name of registrant as specified in its charter) | West Virginia | | 20-0034461 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission File Number: 001-38314 MVB Financial Corp. (Exact name of registrant as specified in its charter) West Virginia 20-0034461 (Sta ...

Financial Performance and Risks - The company's noninterest bearing deposits increased from 10.9% of total deposits as of December 31, 2017, to 47.9% as of December 31, 2022, largely due to its gaming initiative[160]. - Gaming deposits totaled $652.1 million as of December 31, 2022, down from $911.6 million as of December 31, 2021, with $536.9 million concentrated among the three largest clients[160]. - The Federal Reserve Board has significantly decreased benchmark interest rates to near zero in response to the COVID-19 pandemic, but is now reversing this policy due to inflation concerns, leading to rising market interest rates[159]. - The transition from LIBOR to SOFR as the primary interest rate benchmark is expected to create considerable costs and additional risks for the company[165]. - The company may experience adverse effects on its financial condition due to potential losses from credit risk associated with counterparties in the financial services industry[161]. - The company is facing significant volatility in cryptocurrency markets, which may materially impact financial statements and stock market price[171]. - The company is subject to liquidity risk, which could disrupt its ability to meet financial obligations if funding sources are restricted[184][185]. - Economic downturns may lead to deposit base outflows, limiting access to liquidity and increasing funding costs[186]. - The company’s ability to pay dividends is restricted by federal policies and regulations, and future dividend payments depend on various factors including earnings and capital requirements[217]. - The inability to generate profits and pay dividends could adversely affect the company's financial condition and results of operations[210]. Business Strategy and Growth - The company is focused on long-term growth through new business initiatives, including investments in FinTech and cryptocurrency, which present substantial risks and uncertainties[168]. - The company has increased its investments in securities and loan growth due to the rise in noninterest bearing deposits[160]. - The company is pursuing strategies to acquire and internally develop technologies to scale and diversify banking capabilities, with uncertain timing for profitability[172]. - The introduction of new lines of business may require significant investment and may not meet initial timetables or profitability targets due to external factors[173]. Competition and Market Position - The company faces significant competition from various financial institutions, which may adversely affect its market position and profitability[162]. - The trading volume of the company's common stock is lower than that of larger financial services companies, which may affect liquidity and marketability[212]. - The company is engaged in relationships with clients in the payments, digital savings, and gaming industries, which could be impacted by regulatory changes[169]. Regulatory and Compliance Risks - The merger with IFH is pending regulatory approvals, and its success will depend on realizing anticipated cost savings without adversely affecting revenues[177][178]. - Integration challenges post-merger may lead to loss of key employees and disrupt ongoing business operations, affecting the combined company's performance[180][181]. - The company is subject to extensive federal, state, and local taxes, which could adversely affect performance if tax laws change[204]. - The company must comply with capital adequacy guidelines imposed by the Federal Reserve Board and the FDIC, failure to meet these could compromise its status as a financial holding company[208]. - The company faces risks related to compliance with the Sarbanes-Oxley Act, and any material weaknesses in internal controls could lead to sanctions and loss of investor confidence[218]. Operational Risks - The company relies on external vendors for operations, and any failure in their performance could disrupt business and adversely impact financial condition[196]. - Environmental liability risks associated with lending activities could lead to significant remediation costs and affect property values[197]. - The accuracy of customer information is critical, as reliance on inaccurate data could materially impact financial condition and results of operations[198]. - Changes in accounting policies and estimates could materially affect how the company reports its financial condition and results of operations[221]. - The company’s financial condition may be negatively impacted by disruptions in securities markets, leading to potential impairments of its investment securities portfolio[220]. - The company is exposed to risks from inadequate or inaccurate analytical and forecasting models, which could result in unexpected losses or insufficient allowances for loan losses[225]. - The company’s stock price can be volatile, influenced by market fluctuations, economic conditions, and regulatory changes[215].