MVB FINANCIAL CORP
For the period ended Apr 29, 2026. Filed Apr 29, 2026.
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Apr 29, 2026 · Filed Apr 29, 2026
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Contents
EX-99.1 · Selected Financial Data
Selected Financial Data
(Unaudited) (Dollars in thousands, except share and per share data)
| Quarterly | |||
|---|---|---|---|
| 2026 | 2025 | 2025 | |
| First Quarter | Fourth Quarter | First Quarter | |
| Earnings and Per Share Data: | |||
| Net income | $5,184 | $4,225 | $3,577 |
| Earnings per share - basic | $0.41 | $0.33 | $0.28 |
| Earnings per share - diluted | $0.39 | $0.32 | $0.27 |
| Cash dividends paid per common share | $0.17 | $0.17 | $0.17 |
| Book value per common share | $26.07 | $26.26 | $23.94 |
| Tangible book value per common share 1 | $25.98 | $26.17 | $23.85 |
| Weighted-average shares outstanding - basic | 12,795,271 | 12,630,451 | 12,948,178 |
| Weighted-average shares outstanding - diluted | 13,191,405 | 13,082,568 | 13,181,213 |
| Performance Ratios: | |||
| Return on average assets 2 | 0.6% | 0.5% | 0.4% |
| Return on average equity 2 | 6.1% | 5.1% | 4.7% |
| Net interest margin 3 4 | 3.73% | 3.71% | 3.66% |
| Efficiency ratio 5 | 76.7% | 80.6% | 85.2% |
| Overhead ratio 2 6 | 3.3% | 3.8% | 3.5% |
| Equity to assets | 10.1% | 10.1% | 10.3% |
| Asset Quality Data and Ratios: | |||
| Charge-offs | $1,890 | $4,143 | $1,387 |
| Recoveries | $392 | $256 | $530 |
| Net loan charge-offs to total loans 2, 7 | 0.26% | 0.68% | 0.17% |
| Allowance for credit losses | $22,605 | $21,827 | $19,165 |
| Allowance for credit losses to total loans | 0.94% | 0.93% | 0.93% |
| Nonperforming loans | $34,740 | $30,655 | $20,272 |
| Nonperforming loans to total loans | 1.4% | 1.3% | 1.0% |
| Mortgage Company Equity Method Investees Production Data8: | |||
| Mortgage pipeline | $1,126,262 | $1,127,211 | $1,078,835 |
| Loans originated | $1,406,921 | $1,455,199 | $1,310,702 |
| Loans closed | $936,789 | $1,027,560 | $888,022 |
| Loans sold | $747,829 | $721,185 | $644,683 |
1 Common equity, less total goodwill and intangibles per common share, a non-U.S. GAAP measure. See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 11.
2 Annualized for the quarterly periods presented.
3 Net interest income as a percentage of average interest-earning assets.
4 Presented on a fully tax-equivalent basis, a non-U.S. GAAP financial measure.
5 Noninterest expense as a percentage of net interest income and noninterest income.
6 Noninterest expense as a percentage of average assets.
7 Ratio of charge-offs, less recoveries to total loans.
8 Information is related to Intercoastal Mortgage Company, LLC and Warp Speed Holdings, LLC, entities in which MVB has an ownership interest that are accounted for as equity method investments.
Non-U.S. GAAP Reconciliation: Net Interest Income and Net Interest Margin on a Fully Tax-Equivalent Basis
The following table reconciles, for the periods shown below, net interest income and net interest margin on a fully tax-equivalent basis:
| Three Months Ended | |||
|---|---|---|---|
| (Dollars in thousands) | March 31, 2026 | December 31, 2025 | March 31, 2025 |
| Net interest margin - U.S. GAAP basis | |||
| Net interest income | $28,452 | $28,379 | $26,676 |
| Average interest-earning assets | $3,108,569 | $3,044,814 | $2,979,992 |
| Net interest margin | 3.71% | 3.70% | 3.63% |
| Net interest margin - non-U.S. GAAP basis | |||
| Net interest income | $28,452 | $28,379 | $26,676 |
| Impact of fully tax-equivalent adjustment | 121 | 123 | 186 |
| Net interest income on a fully tax-equivalent basis | $28,573 | $28,502 | $26,862 |
| Average interest-earning assets | $3,108,569 | $3,044,814 | $2,979,992 |
| Net interest margin on a fully tax-equivalent basis | 3.73% | 3.71% | 3.66% |
Non-U.S. GAAP Reconciliation: Tangible Book Value per Common Share and Tangible Common Equity Ratio
(Unaudited) (Dollars in thousands, except per share data)
| March 31, 2026 | December 31, 2025 | March 31, 2025 | |
|---|---|---|---|
| Tangible Book Value per Common Share | |||
| Goodwill | $1,200 | $1,200 | $1,200 |
| Intangibles | — | — | — |
| Total intangibles | $1,200 | 1,200 | 1,200 |
| Total equity attributable to parent | $334,920 | 333,968 | 310,054 |
| Less: Total intangibles | (1,200) | (1,200) | (1,200) |
| Tangible common equity | $333,720 | $332,768 | $308,854 |
| Tangible common equity | $333,720 | $332,768 | $308,854 |
| Common shares outstanding (000s) | 12,847 | 12,716 | 12,950 |
| Tangible book value per common share | $25.98 | $26.17 | $23.85 |
| Tangible Common Equity Ratio | |||
| Total assets | $3,322,298 | $3,308,918 | $3,019,687 |
| Less: Total intangibles | (1,200) | (1,200) | (1,200) |
| Tangible assets | $3,321,098 | $3,307,718 | $3,018,487 |
| Tangible assets | $3,321,098 | $3,307,718 | $3,018,487 |
| Tangible common equity | $333,720 | $332,768 | $308,854 |
| Tangible common equity ratio | 10.0% | 10.1% | 10.2% |
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