MVB Financial Corp (OQ:MVBF)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 301 Virginia Ave FAIRMONT WV 26554-2777 |
| Tel: | 1-304-5943533 |
| Website: | https://ir.mvbbanking.com |
| IR: | See website |
| Key People | ||
| Donald T. Robinson President, Chief Financial Officer | Larry F. Mazza Chief Executive Officer, Director | Craig Brad Greathouse Executive Vice President, Chief Administrative Officer | John Charles Marion Chief Risk Officer |
| Business Overview |
| MVB Financial Corp. is a financial holding company that operates principally through its wholly owned subsidiary, MVB Bank, Inc. (the Bank). The Company conducts a range of business activities through the Bank, primarily commercial and retail (CoRe) banking services, as well as fintech banking. It operates through three segments: CoRe Banking, Mortgage Banking and Financial Holding Company. It offers its customers a range of products and services, including various demand deposit accounts, savings accounts, money market accounts and certificates of deposit; commercial, consumer and real estate mortgage loans and lines of credit; debit cards; cashier's checks; safe deposit rental facilities; non-deposit investment services offered through an association with a broker-dealer; and insurance and investment services. The Bank provides strategies to independent banking and corporate clients throughout the United States. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, MVB Financial Corp interest income increased 51% to $189.8M. Net interest income after loan loss provision increased 28% to $125.2M. Net income before extraordinary items increased 81% to $22.5M. Net interest income after loan loss provision reflects Interest and fees on loans increase of 37% to $159.6M, Interest on deposits with banks increase from $1.6M to $21M. |
| Employees: | 445 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $337.71M as of Dec 31, 2023 |
| Annual revenue (TTM): | $189.82M as of Dec 31, 2023 |
| EBITDA (TTM): | $36.28M as of Dec 31, 2023 |
| Net annual income (TTM): | $22.45M as of Dec 31, 2023 |
| Free cash flow (TTM): | $47.68M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $78.58M as of Dec 31, 2023 |
| Shares outstanding: | 12,840,883 as of Apr 8, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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