MVB Financial(US:MVBF)2026-02-12 21:35Financial Performance - MVB Financial reported a net income of $4.2 million for Q4 2025, translating to $0.33 basic and $0.32 diluted earnings per share[2]. - Net interest income increased by 6.8% to $28.4 million, with a net interest margin expansion of 17 basis points to 3.70%[3]. - Noninterest income for Q4 2025 was $10.7 million, a decline of 69.1% from the prior quarter due to a previous gain on the sale of Victor Technologies[8]. - The company reported a gain on divestiture activity of $160 million in Q4 2025, significantly lower than the $34,086 million reported in Q3 2025, indicating a strategic shift in asset management[21]. - Net income for the twelve months ended December 31, 2025, was $26,940,000, an increase from $20,091,000 in 2024, representing a growth of 34.4%[28]. - Cash dividends paid per common share remained stable at $0.68 for both 2025 and 2024[28]. Loan and Deposit Growth - Total loan balances reached $2.34 billion, reflecting a growth of $83.8 million, or 3.7%, from the previous quarter[7]. - Total deposits increased by $66.0 million, or 2.4%, to $2.84 billion at the end of Q4 2025[7]. - Loans receivable increased to $2,343,163 million as of December 31, 2025, from $2,259,386 million in September 2025 and $2,100,131 million in December 2024, indicating growth in lending activities[23]. - Noninterest bearing deposits rose to 40.3% of total deposits, up from 37.0% in Q3 2025[7]. - Loans originated during the twelve months totaled $5,664,857,000, an increase from $5,228,415,000 in 2024, marking an 8.4% growth[28]. Asset Management - Total assets as of December 31, 2025, were $3,308,918 million, an increase from $3,232,953 million in September 2025 and $3,128,704 million in December 2024[23]. - Total assets decreased slightly to $3,257,111,000 in 2025 from $3,283,393,000 in 2024, a decline of 0.8%[26]. - Tangible assets for Q4 2025 were $3,307,718,000, slightly up from $3,231,753,000 in Q3 2025[32]. Credit Quality - Net charge-offs were $3.9 million, or 0.68% annualized of total loans, compared to $0.7 million, or 0.12% in the prior quarter[9]. - The provision for credit losses totaled $2.1 million, down from $4.4 million in the previous quarter[9]. - The allowance for credit losses decreased to $21,827 million as of December 31, 2025, from $23,322 million in September 2025, suggesting improved credit quality[23]. - Nonperforming loans increased to $30,655,000, up from $24,607,000 in 2024, representing a rise of 24.9%[28]. - The allowance for credit losses was $21,827,000, compared to $19,663,000 in 2024, reflecting an increase of 11%[28]. Operational Efficiency - The efficiency ratio improved to 72.8% for the twelve months ended December 31, 2025, down from 80.4% in 2024, showing enhanced operational efficiency[28]. - The net interest margin for the twelve months ended December 31, 2025, was 3.63%, compared to 3.64% in 2024, indicating a slight contraction[28]. Equity and Book Value - Book value per common share increased by 0.7% to $26.26 as of December 31, 2025[8]. - The book value per common share increased to $26.26 in 2025 from $23.61 in 2024, a growth of 11.2%[28]. - Tangible book value per common share increased to $26.17 in Q4 2025 from $25.98 in Q3 2025 and $23.37 in Q4 2024[32]. - Total equity attributable to the parent rose to $333,968,000 in Q4 2025, up from $327,752,000 in Q3 2025 and $305,679,000 in Q4 2024[32]. - Tangible common equity ratio remained stable at 10.1% for both Q4 2025 and Q3 2025, compared to 9.7% in Q4 2024[32]. Interest Income - The net interest income for Q4 2025 was $28,502 million, with a margin of 3.71%, compared to $26,753 million and 3.55% in Q3 2025, reflecting improved profitability[25]. - Net interest income for Q4 2025 was $28,379,000, an increase from $26,573,000 in Q3 2025, and $24,904,000 in Q4 2024[30]. - The net interest margin on a fully tax-equivalent basis for Q4 2025 was 3.71%, compared to 3.55% in Q3 2025 and 3.46% in Q4 2024[30]. - The impact of fully tax-equivalent adjustment on net interest income was $123,000 for Q4 2025[30].