Welcome to our dedicated page for Mvb Finl news (Ticker: MVBF), a resource for investors and traders seeking the latest updates and insights on Mvb Finl stock.
MVB Financial Corp (MVBF) delivers comprehensive financial services through its banking, mortgage, and wealth management divisions. This news hub provides investors and stakeholders with essential updates on corporate developments, regulatory filings, and market positioning.
Access real-time announcements including quarterly earnings disclosures, strategic partnerships, and leadership updates. Our curated collection features press releases on product innovations in community banking, mortgage rate adjustments, and wealth management service expansions.
Key coverage areas include regulatory compliance updates, branch network growth in the Mid-Atlantic region, and financial product enhancements. Users benefit from centralized access to operational milestones that impact MVBF's market performance and community banking initiatives.
Bookmark this page for ongoing insights into MVBF's financial health, risk management strategies, and competitive positioning within the regional banking sector. Verify time-sensitive information directly through company filings and official statements.
MVB Financial Corp. has expanded its investment in Interchecks Technologies, Inc. from an initial stake to 16%. This company specializes in payment disbursement solutions and has seen notable success in the gaming sector. Since 2016, MVB's Fintech investment portfolio has achieved a cumulative IRR of nearly 200%. A management contract has also been established with Interchecks to advance the rollout of the GRAND digital account, aimed at enhancing payment solutions in the gaming and crypto sectors. This strategic move aligns with MVB's focus on the growing online gaming industry.
MVB Financial Corp. (NASDAQ: MVBF) has declared a quarterly cash dividend of $0.14 per share for shareholders of record as of September 1, 2021, payable on September 15, 2021. This represents a 16.67% increase from the previous quarter's dividend of $0.12. CEO Larry F. Mazza emphasized the company's strong capital base as a key factor in this decision, distinguishing MVB's growing cash dividend from many fintech peers. This marks the third quarterly dividend payment for 2021.
MVB Financial Corp. (NASDAQ: MVBF) reported a net income of $9.2 million for Q2 2021, translating to $0.79 per basic share. The company's noninterest-bearing deposits surged to $932.7 million, marking a 76% increase YoY. Net interest income reached $19.1 million, a 9% rise quarter-over-quarter. The tangible book value per share also rose to $20.54. Notably, MVB completed the acquisition of Trabian Technology, enhancing its Fintech initiatives. However, the net interest margin declined to 3.24% due to excess liquidity and PPP loans.
MVB Financial Corp. (NASDAQ: MVBF) announced the sale of four banking centers in Southern West Virginia to Summit Community Bank, a subsidiary of Summit Financial Group, Inc. The deal includes $167 million in deposits and $55 million in loans, resulting in a pre-tax gain of approximately $10 million. This sale will increase MVB's tangible book value per share by 3.2% as of March 31, 2021. The transaction allows MVB to focus on its core markets and expanding Fintech business, marking its exit from Southern West Virginia.
MVB Bank has launched a wholly-owned subsidiary, MVB Edge Ventures, focused on technology investments. This new venture oversees three companies: Victor Technologies, MVB Technology, and Flexia Payments, which aim to innovate within the Fintech sector. Notably, Victor provides developer-friendly APIs for quick money management solutions. Flexia is set to enhance cashless casino transactions, while GRAND offers streamlined payment options. MVB aims to leverage its expertise to enhance its position in Gaming, Payments, and Banking-as-a-Service.
MVB Financial Corp. (NASDAQ: MVBF) has announced a quarterly cash dividend of $0.12 per share, payable on June 15, 2021, to shareholders of record as of June 1, 2021. This represents a 20% increase from the previous quarter's dividend of $0.10. The company's President, Larry F. Mazza, highlighted significant growth in loans and deposits, allowing for this increase in dividends, while also noting that investments in technology will enhance their Fintech operations and revenue streams.
MVB Financial Corp. reported a net income of $8.1 million for Q1 2021, with basic earnings per share of $0.70. This represents a 31.8% increase in tangible book value per share year-over-year. Total deposits reached $2.22 billion, up 11.8% from the previous quarter. The company is expanding its fintech presence with acquisitions of Flexia Payments and Trabian Technology, enhancing its services in the gaming and financial sectors. Despite growth in loans and deposits, net interest income decreased by 1.0% from the last quarter.
MVB Bank, a subsidiary of MVB Financial Corp. (NASDAQ: MVBF), has signed an agreement for Summit Community Bank (NASDAQ: SMMF) to acquire nearly all of its Southern West Virginia banking operations. This transaction includes full-service banking centers and drive-up locations, with Summit assuming approximately $193 million in deposits and $57 million in loans. The deal aims to allow MVB to concentrate on its core markets and fintech growth. It is subject to closing conditions and regulatory approvals, expected to finalize in Q3 2021.
MVB Financial Corp. (Nasdaq: MVBF) announced its acquisition of a majority interest in Trabian Technology, Inc., a software firm for financial institutions. Trabian enhances MVB's Fintech vertical, adding technological expertise and a new revenue stream. Larry F. Mazza, CEO of MVB, emphasized the acquisition's role in expanding solutions for Fintech clients. Trabian will continue its mission and operations under CEO Matt Dean, now Executive Chairman. This strategic move aims to strengthen MVB's offerings and drive innovation in community finance.
