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Fortune Names MVB Financial to Its List of 100 Fastest-Growing Companies
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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.
Positive
Ranked 29th on Fortune's 2021 100 Fastest-Growing Companies list.
Strong financial performance in revenues, profits, and stock returns.
Partnership with NYDIG to offer Bitcoin-related products.
Negative
None.
MVB Ranks Number 29 on the List of the World’s Top Growers in Revenues, Profits and Stock Returns
FAIRMONT, W.Va.--(BUSINESS WIRE)--
MVB Financial Corp. (“MVB Financial” “MVB”) (NASDAQ: MVBF) announced today it ranks number 29 on Fortune’s 100 Fastest-Growing Companies list for 2021. Fortune’s annual list recognizes the top performing, publicly traded companies in revenues, profits and stock returns over the three-year period ended April 30, 2021. The designation highlights MVB’s strong performance since joining The Nasdaq Capital Market® in December 2017.
“MVB has embraced the transformative power of technology in the banking industry. Through our innovative strategy, our Fintech initiatives continue to power our core funding transformation and solidify our niche as the bank of choice for the online gaming industry. We continue to seek opportunities to be adaptive, such as our new partnership with NYDIG that allows our Fintech clients to offer Bitcoin-related products, and to conduct strategic initiatives to enhance shareholder value,” said Larry F. Mazza, President and CEO, MVB Financial.
“As we grow, MVB strives to be trusted partners on the financial frontier, committed to the success of our Team Members, clients, shareholders and communities. We are pleased to be in a position to add value for those who support us. I am grateful to Team MVB for the dedication, commitment and teamwork that makes our growth possible.”
According to Fortune, the financial sector took the lead in its rankings for the second consecutive year. The financial sector makes up one-third of the companies on the list, which includes banks, trading shops and lenders. For more information or to view the entire list, visit: https://fortune.com/100-fastest-growing-companies/2021.
To qualify for Fortune’s 100 Fastest-Growing Companies list, a company-domestic or foreign- must be trading on a major U.S. stock exchange; report data in U.S. dollars; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and a stock price of at least $5 on June 30, 2021; and have been trading continuously since June 30, 2018. Companies must have revenue and net income for the four quarters ended on or before April 30, 2021, of at least $50 million and $10 million, respectively, and have posted an annualized growth in revenue and earnings per share of at least 15% annually over the three years ended on or before April 30, 2021.
Companies that meet these criteria are ranked by revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 30, 2021. (To compute the revenue and EPS growth rates, Fortune uses a trailing-four-quarters log linear least square regression fit.) For more information about the methodology, visit: https://fortune.com/franchise-list-page/methodology-fastest-growing-companies-2021/.
About MVB Financial Corp.
MVB Financial Corp. (“MVB Financial” or “MVB”), the innovative financial holding company of MVB Bank, is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.” Through its subsidiary, MVB Bank, Inc., (“MVB Bank”) and the bank’s subsidiaries, MVB provides services to individuals and corporate clients in the Mid-Atlantic region, as well as to Fintech, Payment and Gaming clients throughout the United States. For more information about MVB, please visit ir.mvbbanking.com.
Forward-looking Statements
MVB Financial Corp. has made forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in this Press Release. These forward-looking statements are based on current expectations about the future and subject to risks and uncertainties. Forward-looking statements include, without limitation, information concerning possible or assumed future results of operations of the Company and its subsidiaries, as well as statements regarding MVB’s future plans with regard to its Fintech line of business. When words such as “plans,” “believes,” “expects,” “anticipates,” “continues,” “may” or similar expressions occur in this Press Release, the Company is making forward-looking statements. Note that many factors could affect the future financial results of the Company and its subsidiaries, both individually and collectively, and could cause those results to differ materially from those expressed in the forward-looking statements contained in this Press Release. Those factors include but are not limited to: credit risk; changes in market interest rates; revaluation of equity investments, including MVB’s investments in Fintech companies; inability to further scale up the Fintech line of business; competition; economic downturn or recession; and government regulation and supervision. Additional factors that may cause our actual results to differ materially from those described in our forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as well as its other filings with the SEC, which are available on the SEC website at www.sec.gov. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements.
What are the financial criteria for MVB Financial Corp. to be listed on Fortune's Fastest-Growing Companies?
MVB Financial must have at least $50 million in revenue and $10 million in net income for the year, with a market capitalization of at least $250 million and a stock price over $5.
How has MVB Financial Corp. performed since joining The Nasdaq Capital Market?
MVB Financial has shown strong growth in revenues, profits, and stock returns since joining The Nasdaq Capital Market in December 2017.
What strategic partnerships does MVB Financial Corp. have to enhance shareholder value?
MVB Financial has partnered with NYDIG to allow its fintech clients to offer Bitcoin-related products.
