MVB Financial Corp. Declares First Quarter 2022 Dividend

Rhea-AI Summary

MVB Financial Corp. (MVBF) has declared a quarterly cash dividend of $0.17 per share, marking a 13.3% increase from the previous quarter's dividend of $0.15. This dividend will be paid to shareholders of record as of March 1, 2022, with a payment date of March 15, 2022. The CEO, Larry F. Mazza, expressed satisfaction with the Company’s performance and the ongoing value creation for shareholders. This announcement reflects the Company's strong positioning and focus on a tech-forward business model.

Positive

• Quarterly dividend increased by 13.3% from $0.15 to $0.17.
• Strong earnings performance for 2021.

Negative

• None.

FAIRMONT, W. Va.--(BUSINESS WIRE)-- MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial,” “MVB” or the “Company”) has declared a quarterly cash dividend of $0.17 per share, an increase of $0.02 per share from the previous quarter, for shareholders of record as of March 1, 2022, payable on March 15, 2022. This is the first quarterly dividend for 2022 and includes a 13.3% increase in dividends as compared to the previous quarter dividend of $0.15 per share.

"MVB’s performance reflects the diversity of our tech-forward business model, as well as our strong positioning for the future. We were pleased to have another strong year of earnings for 2021, and our multiple increases in dividends are indicative of the value that MVB is creating for shareholders,” said Larry F. Mazza, CEO, MVB Financial.

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 banking services to Fintech clients throughout the United States. For more information about MVB, please visit http://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 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, 2020, 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/20220216005763/en/

MEDIA CONTACT

Amy Baker

VP, Corporate Communications and Marketing

MVB Bank

abaker@mvbbanking.com

(844) 682-2265

INVESTOR RELATIONS

Marcie Lipscomb

mlipscomb@mvbbanking.com

(844) 682-2265

Source: MVB Financial Corp.

FAQ

What is the dividend amount declared by MVB Financial Corp. (MVBF)?

MVB Financial Corp. has declared a quarterly cash dividend of $0.17 per share.

When will the dividend for MVBF be paid?

The dividend will be paid on March 15, 2022, to shareholders of record as of March 1, 2022.

How much was the increase in the dividend from the previous quarter for MVBF?

The dividend increased by $0.02 from the previous quarter, representing a 13.3% rise.

What is the significance of the dividend increase for MVB Financial Corp. (MVBF)?

The dividend increase indicates strong company performance and commitment to returning value to shareholders.