MVB Names Payments Industry Veteran Jeremy Kuiper as EVP, Fintech President

Rhea-AI Summary

MVB Financial Corp. (Nasdaq: MVBF), the parent company of MVB Bank, has appointed Jeremy Kuiper as EVP, Fintech President.

Kuiper brings 25 years of experience in the payments industry, having held executive and board positions at Pathward and The Bancorp. Kuiper’s role will involve overseeing MVB’s Fintech Banking Team, client and partner implementations, and non-card payments business lines.

MVB CEO Larry F. Mazza expressed enthusiasm about Kuiper's leadership in driving the success of MVB's fintech banking endeavors, focusing on enhancing deposits and fee income. Kuiper has also served at BankFirst, United Credit National Bank, and as Chairman of the Innovative Payments Association.

Positive

• Jeremy Kuiper's 25 years of industry experience can provide strong leadership and strategic direction for MVB's fintech banking initiatives.
• Kuiper's appointment could enhance MVB's fintech banking, driving deposits and fee income growth.
• His extensive background in payments can help strengthen MVB’s merchant acquiring and card issuing sponsorship relationships.
• Kuiper has a proven track record with significant roles at Pathward and The Bancorp, potentially leading to new opportunities and partnerships for MVB.

Negative

• While Kuiper's experience is extensive, any misalignment in his strategic approach with MVB's core values or vision could pose challenges.
• The transition period could lead to temporary disruptions in MVB's fintech banking operations.

FAIRMONT, W. Va.--(BUSINESS WIRE)-- MVB Financial Corp. (Nasdaq: MVBF) (“MVB,” “MVB Financial” or the “Company”), the parent holding company for MVB Bank (the “Bank”), has named Jeremy Kuiper as EVP, Fintech President. Kuiper brings to MVB 25 years of payments industry experience at the executive and board level.

“Jeremy Kuiper has a proven track record of strong leadership in the payments industry, and we are pleased to welcome him to the MVB family as a trusted partner on the financial frontier, committed to the success of our Team, clients, communities and shareholders,” said Larry F. Mazza, CEO, MVB Financial and MVB Bank.

“With Jeremy’s expertise, we look forward to expanding our Fintech Banking to even greater success as a key driver of deposits and fee income for MVB Bank.”

At MVB, Kuiper will focus on oversight of MVB’s Fintech Banking Team, including account management and client delivery teams, client and partner implementations and partner and network relationships. He also will move forward MVB’s merchant acquiring and card issuing sponsorship relationships and non-card payments business lines.

Since 2019 Kuiper has worked at Pathward, serving as Executive Vice President, Enterprise Development. Prior to joining Pathward, he held positions at The Bancorp since 2007, including serving as the Executive Vice President and Managing Director of the Payment Solutions division of The Bancorp. At Bancorp, Kuiper led all of the payments business both domestically and internationally. Additionally, he has served in senior leadership positions with BankFirst and United Credit National Bank, and he served as the Chairman of the Network Branded Prepaid Card Association, now known as the Innovative Payments Association.

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.” 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.

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, 2023, 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/20240618333519/en/

MEDIA

Amy Baker

VP, Corporate Communications & Marketing

MVB Bank

abaker@mvbbanking.com

(844) 682-2265



INVESTOR RELATIONS

Marcie Lipscomb

mlipscomb@mvbbanking.com

(844) 682-2265

Source: MVB Financial Corp.

FAQ

Who is the new Fintech President at MVB Financial Corp.?

Jeremy Kuiper has been appointed as the EVP, Fintech President at MVB Financial Corp.

What is Jeremy Kuiper’s experience in the payments industry?

Jeremy Kuiper brings 25 years of experience in the payments industry, having held key executive positions at Pathward, The Bancorp, BankFirst, and United Credit National Bank.

How might Jeremy Kuiper's appointment affect MVB Financial Corp's stock (MVBF)?

Kuiper's extensive experience and leadership in the payments industry could drive growth in MVB’s fintech banking, potentially having a positive impact on MVBF stock.

What roles will Jeremy Kuiper have at MVB?

Kuiper will oversee MVB’s Fintech Banking Team, client and partner implementations, and the non-card payments business lines.

What previous roles has Jeremy Kuiper held?

Kuiper has served as EVP at Pathward, EVP and Managing Director at The Bancorp, and held leadership positions at BankFirst and United Credit National Bank.