MVB Financial Corp. Declares Second Quarter 2022 Dividend

Rhea-AI Summary

MVB Financial Corp. (NASDAQ: MVBF) has announced a quarterly cash dividend of $0.17 per share, consistent with the previous quarter. This dividend is for shareholders on record as of June 1, 2022 and will be paid on June 15, 2022. CEO Larry F. Mazza emphasized MVB's strong capital position and commitment to creating value for shareholders as the company adapts to market changes.

Positive

• Quarterly cash dividend of $0.17 maintained for shareholders.
• CEO highlights strong capital position and earnings profile.

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, maintaining the dividend declared in the previous quarter for shareholders of record as of June 1, 2022, payable on June 15, 2022. This is the second quarterly dividend for 2022.

"MVB’s first quarter results reflected the investments we’ve made to transform our business model and demonstrate our ability and readiness to adapt to changing market conditions and opportunities. With MVB’s strong capital position and earnings profile, we are pleased to continue to create value for shareholders," said Larry F. Mazza, CEO, MVB Financial.

About MVB Financial Corp.

MVB Financial Corp., the holding company of MVB Bank, Inc. (“MVB Bank”), 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, and MVB Bank's subsidiaries, the Company provides financial services to individuals and corporate clients, including Fintech clients throughout the United States. For more information about MVB, please visit http://ir.mvbbanking.com.

Forward-Looking Statements

MVB 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, 2021, 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/20220518006038/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 announced by MVB Financial Corp.?

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

When will MVB Financial Corp.'s dividend be paid?

The dividend will be paid on June 15, 2022.

Who is eligible for the MVB Financial Corp. dividend?

Shareholders of record as of June 1, 2022, are eligible for the dividend.

How often does MVB Financial Corp. pay dividends?

MVB Financial Corp. pays dividends quarterly.