MVB FINANCIAL CORP
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
MVBF$25.61-0.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Comprehensive Income
(Unaudited) (Dollars in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Net income, before noncontrolling interest | $2,156 | $3,872 | $10,807 | $23,090 |
| Other comprehensive income (loss): | ||||
| Unrealized holding gains (losses) on securities available-for-sale | 8,257 | (7,748) | 8,514 | (5,131) |
| Reclassification adjustment for (gain) loss recognized in income | — | — | (658) | 1,536 |
| Change in defined benefit pension plan | (496) | 100 | 406 | 443 |
| Reclassification adjustment for amortization of net actuarial loss recognized in income | 43 | 29 | 129 | 87 |
| Reclassification adjustment for investment hedge carrying value adjustment recognized in income | — | — | — | (289) |
| Other comprehensive income (loss), before tax | 7,804 | (7,619) | 8,391 | (3,354) |
| Income taxes related to items of other comprehensive income (loss): | ||||
| Unrealized holding gains (losses) on securities available-for-sale | (1,986) | 1,863 | (2,048) | 1,234 |
| Reclassification adjustment for (gain) loss recognized in income | — | — | 158 | (369) |
| Change in defined benefit pension plan | 119 | (24) | (99) | (106) |
| Reclassification adjustment for amortization of net actuarial loss recognized in income | (10) | (7) | (30) | (21) |
| Reclassification adjustment for investment hedge carrying value adjustment recognized in income | — | — | — | 69 |
| Income taxes related to items of other comprehensive income (loss): | (1,877) | 1,832 | (2,019) | 807 |
| Total other comprehensive income (loss), net of tax | 5,927 | (5,787) | 6,372 | (2,547) |
| Comprehensive (income) loss attributable to noncontrolling interest | (76) | (5) | (156) | 231 |
| Comprehensive income (loss) | $8,007 | $(1,920) | $17,023 | $20,774 |
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