MVB Financial Corp. Reports Strong Fourth Quarter 2020 Results and Finishes 2020 with Record Earnings

Rhea-AI Summary

MVB Financial reported a net income of $11.8 million for Q4 2020, equating to $1.00 basic and $0.97 diluted earnings per share. For the full year 2020, net income reached $37.4 million, resulting in $3.13 basic and $3.06 diluted EPS. These figures indicate robust financial performance, showcasing growth compared to the previous year's fourth quarter.

Positive

• Net income for Q4 2020: $11.8 million
• Full year 2020 net income: $37.4 million
• Q4 basic EPS: $1.00, diluted EPS: $0.97
• Full year basic EPS: $3.13, diluted EPS: $3.06

Negative

• None.

MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial,” “MVB,” or the “Company”) today reported net income of $11.8 million, or $1.00 basic and $0.97 diluted earnings per share, for the three months ended December 31, 2020. For the year ended December 31, 2020, the Company reported net income of $37.4 million, or $3.13 basic and $3.06 diluted earnings per share.

		Quarterly												Full Year
		2020				2020				2019				2020				2019
		Fourth Quarter				Third Quarter				Fourth Quarter
Net income		$	11,838			$	6,491			$	4,095			$	37,411			$	26,991
Earnings per share - basic		$	1.00

FAQ

What were MVB Financial's earnings for Q4 2020?

MVB Financial reported earnings of $11.8 million in Q4 2020.

What is the full year net income for MVB Financial in 2020?

MVB Financial's full year net income for 2020 was $37.4 million.

What is the diluted EPS for MVB Financial for Q4 2020?

The diluted EPS for Q4 2020 was $0.97.

How did MVB Financial perform in 2020 compared to 2019?

MVB Financial showed significant growth in net income for 2020 compared to 2019.