MVB Financial Corp (MVBF)

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MVB Financial Corp

MVBF • CIK 0001277902

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest and Fee Income, Loans and Leases	$159,635	$153,628	$143,863	$151,464
Interest Income, Deposits with Financial Institutions	$21,043	$21,814	$16,340	$13,334
Interest Income, Securities, Operating, Taxable	$5,576	$7,693	$12,618	$16,231
Interest Income (Expense), Net	$123,283	$109,198	$107,408	$115,678
Interest Income, Securities, Operating, Tax Exempt	$3,564	$2,707	$2,502	$2,038
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal	$-1,921	$3,541	$8,737	$13,101
Interest and Dividend Income, Operating	$189,818	$185,842	$175,323	$183,067
Interest Income (Expense), after Provision for Loan Loss	$125,204	$105,657	$98,671	$102,577
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$27,294	$26,344	$36,850	$51,556
Income Tax Expense (Benefit)	$5,070	$6,099	$9,928	$12,760
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$22,224	$20,245	$26,922	$26,922
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	$11,831	$0	$0	$0
Discontinued Operation, Tax Effect of Discontinued Operation	$3,049	$0	$0	$0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$8,782	$0	$0	$0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$31,006	$20,245	$26,922	$38,796
Net Income (Loss) Attributable to Noncontrolling Interest	$-226	$154	$-18	$0
Net Income (Loss) Available to Common Stockholders, Basic	$31,232	$20,091	$26,940	$38,796
Weighted Average Number of Shares Outstanding, Basic	12,694,206	12,890,161	12,775,242	12,678,011
Weighted Average Number of Shares Outstanding, Diluted	12,997,332	13,136,758	13,105,521	13,142,901
Interest Expense, Deposits	$61,660	$73,105	$64,494	$63,964
Interest Expense, Securities Sold under Agreements to Repurchase	$890	$46	$125	$81
Interest Expense, Subordinated Notes and Debentures	$3,219	$3,229	$3,296	$2,874
InterestExpenseOperating	—	$76,644	$67,915	$67,389
Insurance Commissions and Fees	$335	$288	$330	$236
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-1,536	$658	$-7,439	$-7,513
Equity Securities, FV-NI, Realized Gain (Loss)	$-269	$103	$118	$926
Gain (Loss) on Derivative Instruments, Net, Pretax	$-659	$60	$-466	$-1,143
Gain (Loss) on Sales of Loans, Net	$-744	$1,038	$-149	$0
Equity Securities, FV-NI, Unrealized Gain	—	—	$3,661	$3,661
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	$-2,499	$1,421	$8,151	$8,991
Gain (Loss) on Disposition of Business	—	—	$34,854	$34,246
Gain (Loss) on Disposition of Other Financial Assets	$0	$11,703	$-404	$-47
Noninterest Income, Other Operating Income	$7,839	$5,483	$3,155	$1,879
Noninterest Income	$19,715	$42,913	$60,266	$72,318
Labor and Related Expense	$63,371	$67,955	$70,984	$72,564
Occupancy, Net	$3,701	$3,887	$5,098	$5,089
Equipment Expense	$5,558	$4,581	$3,272	$2,576
Communications and Information Technology	$4,878	$5,471	$5,446	$5,547
Research and Development Expense, Software (Excluding Acquired in Process Cost)	—	—	$4,909	$6,130
Professional Fees	$18,344	$21,348	$15,116	$13,229
Insurance Tax	$4,436	$4,169	$3,639	$3,734
Travel and Entertainment Expense	$6,825	$6,644	$3,032	$1,287
Other Noninterest Expense	$10,512	$8,171	$10,591	$11,347
Noninterest Expense	$117,625	$122,226	$122,087	$123,339
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic	$22,450	$20,091	$26,940	$26,940
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	303,126	246,597	330,279	464,890

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Due from Banks	$6,564	$7,876	$10,568	$10,330
Interest-bearing Deposits in Banks and Other Financial Institutions	$391,665	$310,037	$233,557	$302,266
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$345,275	$411,640	$410,510	$429,578
Cash and Cash Equivalents, at Carrying Value	$398,229	$317,913	$244,125	$312,596
Equity Securities, FV-NI	$41,086	$42,583	$50,643	$62,503
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$2,317,594	$2,100,131	$2,343,163	$2,476,393
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$22,124	$19,663	$21,827	$28,217
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$2,295,470	$2,080,468	$2,321,336	$2,448,176
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	$20,928	$12,475	$10,379	$9,935
Bank Owned Life Insurance	$44,287	$45,455	$56,270	$57,401
Equity Method Investments	$75,754	$78,255	$86,823	$90,195
Disposal Group, Including Discontinued Operation, Assets	$0	$2,278	$0	$0
Interest Receivable and Other Assets	$89,386	$137,637	$128,832	$135,469
Assets	$3,313,882	$3,128,704	$3,308,918	$3,545,853
Accrued Liabilities	$37,917	$52,032	$55,539	$32,153
Securities Sold under Agreements to Repurchase	$4,821	$2,759	$3,339	$3,709
Subordinated Debt	$73,540	$73,787	$74,026	$34,072
Disposal Group, Including Discontinued Operation, Liabilities	$0	$720	$0	$0
Liabilities	$3,024,540	$2,822,913	$2,974,950	$3,201,310
Noninterest-bearing Deposit Liabilities, Domestic	$1,197,272	$940,994	$1,144,682	$1,069,207
Interest-bearing Deposit Liabilities, Domestic	$1,704,204	$1,752,621	$1,697,364	$2,042,169
Deposits, Domestic	$2,901,476	$2,693,615	$2,842,046	$3,111,376
Common Stock, Value, Issued	$13,606	$13,793	$14,043	$14,323
Additional Paid in Capital, Common Stock	$160,488	$164,677	$170,380	$172,940
Retained Earnings (Accumulated Deficit)	$160,862	$172,181	$190,414	$203,497
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-28,831	$-28,231	$-13,866	$-18,039
Treasury Stock, Common, Value	$16,741	$16,741	$27,003	$28,178
Stockholders' Equity Attributable to Parent	$289,384	$305,679	$333,968	$333,968
Stockholders' Equity Attributable to Noncontrolling Interest	$-42	$112	$0	$0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$289,342	$305,791	$333,968	$344,543
Common Stock, Shares Authorized	40,000,000	40,000,000	40,000,000	40,000,000
Common Stock, Shares, Issued	13,606,399	13,793,311	14,042,683	14,322,668
Common Stock, Shares, Outstanding	12,758,383	12,945,295	12,715,598	12,947,151
Treasury Stock, Common, Shares	848,016	848,016	1,327,085	1,375,517
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess	$2,316,174	$2,099,117	$2,344,027	$2,477,915
Financing Receivable, Unamortized Loan Fee (Cost) and Purchase Premium (Discount)	$1,420	$1,014	$-864	$-1,522

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$31,006	$20,245	$26,922	$38,796
Net Cash Provided by (Used in) Operating Activities	$58,233	$-285	$4,028	$-35,662
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$357,949	$-80,316	$-73,788	$-86,783
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$398,229	$317,913	$244,125	$170,310
Payments to Acquire Debt Securities, Available-for-sale	$89,522	$111,761	$211,984	$189,015
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$76,631	$17,374	$126,859	$90,303
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal	$-1,921	$3,541	$8,737	$13,101
Depreciation, Depletion and Amortization	$5,003	$3,931	$2,599	$1,882
Payments to Acquire Property, Plant, and Equipment	$1,915	$1,620	$1,915	$1,932
Share-based Payment Arrangement, Noncash Expense	$2,658	$2,913	$3,801	$3,680
Proceeds from Sale of Property, Plant, and Equipment	$425	$425	$214	$64
Payments for Origination of Mortgage Loans Held-for-sale	$1,804	$3,305	$0	$0
Proceeds from Sale of Loans Held-for-sale	$30,725	$4,162	$0	$0
Increase (Decrease) in Finance Receivables	$-39,092	$-199,581	$278,737	$329,921
Increase (Decrease) in Equity Securities, FV-NI	$146	$1,184	$3,661	$15,339
Proceeds from Sale of Loans Held-for-investment	$14,934	$1,246	$27,678	$0
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-1,536	$658	$-7,439	$-7,513
Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans	$539	$167	$1,988	$794
Equity Securities, FV-NI, Realized Gain (Loss)	$-269	$103	$118	$926
Payment to Acquire Life Insurance Policy, Investing Activities	$0	$0	$13,043	$13,043
Proceeds from Life Insurance Policy	—	—	$3,170	$3,170
Payments to Acquire Equity Method Investments	$2,744	$1,948	$0	$0
Gain (Loss) on Disposition of Stock in Subsidiary	$11,800	$0	$0	$0
PaymentsToAcquireEquitySecuritiesFvNi	—	—	$5,050	$4,146
ProceedsFromSaleOfEquitySecuritiesFvNi	$566	$143	$769	$1,781
Gain (Loss) on Disposition of Other Assets	$170	$-160	$-179	$-263
Proceeds from Divestiture of Businesses, Net of Cash Divested	—	—	$45,745	$42,282
Bank Owned Life Insurance Income	$1,048	$1,168	$1,512	$2,040
Net Cash Provided by (Used in) Investing Activities	$88,249	$144,463	$-208,601	$-328,438
Deferred Income Tax Expense (Benefit)	$97	$2,196	$-390	$1,783
Income (Loss) from Equity Method Investments	$-2,499	$1,421	$8,151	$8,991
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee	$-714	$-868	$0	$-579
Increase (Decrease) in Other Operating Assets	$6,925	$22,045	$-767	$25,469
Increase (Decrease) in Other Operating Liabilities	$1,657	$267	$214	$-16,808
Increase (Decrease) in Deposits	$330,994	$-207,861	$147,229	$306,953
Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase	$-5,216	$-2,062	$580	$682
Repayments of Senior Debt	$3,030	$6,845	$0	$0
Payments for Repurchase of Common Stock	—	—	$10,160	$5,018
Proceeds from Stock Options Exercised	$637	$1,489	$2,301	$4,999
Payment, Tax Withholding, Share-based Payment Arrangement	$846	$443	$458	$1,472
Payments of Ordinary Dividends, Common Stock	$8,639	$8,772	$8,707	$8,649
Payments for Repurchase of Redeemable Noncontrolling Interest	$100	$0	$0	$0
Net Cash Provided by (Used in) Financing Activities	$211,467	$-224,494	$130,785	$277,317
Interest Paid, Excluding Capitalized Interest, Operating Activities	$66,708	$73,242	$71,493	$68,029
Real Estate Owned, Transfer to Real Estate Owned	$0	$2,328	$0	$382
Unrealized Gain (Loss) on Investments	$-11,828	$-2,416	$18,766	$13,274
Transfer of Portfolio Loans and Leases to Held-for-sale	$6,621	$0	$0	$0

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Import this data to Google Sheets with:

=jivedata("MVBF","financials")

Full statements spill as a table. For one cell: =jivedata("MVBF","Revenue") or =jivedata("MVBF","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.