MVB Bank Named One of American Banker’s 2023 Best Banks to Work For

Rhea-AI Summary

MVB Financial Corp. (NASDAQ: MVBF) has been recognized as one of American Banker Magazine’s Best Banks to Work For for the third consecutive year, placing number 16 among 90 U.S. banks. The ranking assesses employee satisfaction in areas including corporate culture, communications, training, and pay and benefits. MVB's CEO, Larry F. Mazza, attributes the accomplishment to the company's strategic Culture Initiative, emphasizing culture as part of MVB's corporate DNA. The program, initiated in 2013, aims to identify, recognize, and honor U.S. banks for outstanding employee satisfaction, especially significant during the current shift in workplace dynamics. The selection process involves evaluating workplace policies, practices, demographics, and conducting employee surveys to determine the final rankings.

Positive

• MVB Financial Corp. maintains a strong and positive corporate culture, as evidenced by its consecutive recognition as one of American Banker Magazine’s Best Banks to Work For. The company's CEO emphasizes the importance of culture as part of the corporate DNA, which is likely to contribute to long-term employee satisfaction and retention.

Negative

• None.

Purpose and Values Driven Culture Recognized Nationally

FAIRMONT, W.Va.--(BUSINESS WIRE)-- MVB Bank, Inc., a wholly-owned subsidiary of MVB Financial Corp. (“MVB Financial”) (NASDAQ: MVBF) (collectively “MVB”), for the third consecutive year has been named one of American Banker Magazine’s Best Banks to Work For. MVB placed number 16 among the 90 U.S. banks in the ranking, which assesses employee satisfaction in areas including corporate culture and communications, training and development opportunities and pay and benefits.

“Through our strategic Culture Initiative, culture has become MVB’s secret sauce and part of our corporate DNA, mindset and behavior of Team MVB,” said Larry F. Mazza, CEO, MVB Financial. “These results validate Team Member belief in our culture. We truly strive to be trusted partners on the financial frontier, committed to the success of our Teammates, clients, shareholders and communities.”

The Best Banks to Work For program, which was initiated in 2013 by American Banker and Best Companies Group, identifies, recognizes and honors U.S. banks for outstanding employee satisfaction.

“The banks recognized on this list are trying hard to create workplaces that employees want to join,” said Chana R. Schoenberger, Editor-in-Chief of American Banker. “Especially during this moment when companies are experiencing a shift in how, where and how much employees work, banks are paying attention to how they can best retain their people.”

The selection of the Best Banks to Work For is a two-step process managed by Best Companies Group. The first step involves an evaluation of participating companies’ workplace policies, practices and demographics. In the second step, employee surveys are conducted to directly assess the experiences and attitudes of individual employees with respect to their workplace. The combined scores determine the top banks and the final rankings.

Full results of this year’s program are available at https://www.americanbanker.com/list/best-banks-to-work-for-2023 and in the November issue of American Banker Magazine.

About MVB Financial Corp.

MVB Financial Corp., the holding company of MVB Bank, Inc., is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.” Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its subsidiary, MVB Bank, Inc., and the Bank’s subsidiaries, the Company provides financial services to individuals and corporate clients in the Mid-Atlantic region and beyond. For more information about MVB, please visit http://ir.mvbbanking.com.

About American Banker

American Banker empowers banking professionals with unique analysis and insight into the ideas transforming their business and industry. Across its journalism, events, research and benchmarking, it helps drive the way forward through the complexity of business innovation, retail and commercial disruption, technology, regulation and reform. With a banking community 850M strong, American Banker’s content connects leaders online, in person and in print every day.

About Best Companies Group

Since 2004, Best Companies Group has specialized in identifying and recognizing great employers to work for. We are an independent research firm that ranks companies based on our established research methodology. Our surveys provide actionable, hard-to-obtain data that companies use to improve employee recruitment and retention.

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 that are intended to be covered by the protections provided under the Private Securities Litigation Reform Act of 1995. 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. Forward-looking statements can be identified by the use of words such as “may,” “could,” “should,”, “would,” “will,” “plans,” “believes,” “estimates,” “expects,” “anticipates,” “intends,” “continues,” or the negative of those terms or similar expressions. 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 forward-looking statements. Therefore, undue reliance should not be placed upon any forward-looking statements. Those factors include but are not limited to: market, economic, operational, liquidity, and credit risk; changes in market interest rates; inability to achieve anticipated synergies and successfully integrate recent mergers and acquisitions; inability to successfully execute business plans, including strategies related to investments in financial technology companies; competition; length and severity of the COVID-19 pandemic and its impact on the Company’s business and financial condition; changes in economic, business, and political conditions; changes in demand for loan products and deposit flow; operational risks and risk management failures; and government regulation and supervision. Additional factors that may cause actual results to differ materially from those described in the forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as well as its other filings with the 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231120911616/en/

MEDIA CONTACT

Amy Baker

VP, Corporate Communications & Marketing

abaker@mvbbanking.com

(844) 682-2265



INVESTOR RELATIONS

Marcie Lipscomb

mlipscomb@mvbbanking.com

(844) 682-2265

Source: MVB Financial Corp.

FAQ

What is MVB Financial Corp. recognized for?

MVB Financial Corp. has been recognized as one of American Banker Magazine’s Best Banks to Work For for the third consecutive year.

What factors are assessed in the ranking?

The ranking assesses employee satisfaction in areas including corporate culture, communications, training, and pay and benefits.

Who manages the selection process for the Best Banks to Work For program?

The selection process is managed by Best Companies Group, involving evaluating workplace policies, practices, demographics, and conducting employee surveys to determine the final rankings.