MVB FINANCIAL CORP
For the period ended Jul 28, 2026. Filed Jul 28, 2026.
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Jul 28, 2026 · Filed Jul 28, 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 · Year-to-Date | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2026 · 2026 · 2025 · 2026 · 2025 | ||||||||
| Second Quarter · First Quarter · Second Quarter | ||||||||
| Earnings and Per Share Data: | ||||||||
| Net income | $12,251 | $5,184 | $2,002 | $17,435 | $5,579 | |||
| Earnings per share - basic | $0.95 | $0.41 | $0.16 | $1.36 | $0.43 | |||
| Earnings per share - diluted | $0.93 | $0.39 | $0.15 | $1.32 | $0.42 | |||
| Cash dividends paid per common share | $0.17 | $0.17 | $0.17 | $0.34 | $0.34 | |||
| Book value per common share | $26.61 | $26.07 | $23.78 | $26.61 | $23.78 | |||
| Tangible book value per common share 1 | $26.52 | $25.98 | $23.68 | $26.52 | $23.68 | |||
| Weighted-average shares outstanding - basic | 12,869,947 | 12,795,271 | 12,912,113 | 12,832,815 | 12,930,046 | |||
| Weighted-average shares outstanding - diluted | 13,186,672 | 13,191,405 | 13,121,436 | 13,188,996 | 13,151,616 | |||
| Performance Ratios: | ||||||||
| Return on average assets 2 | 1.4% | 0.6% | 0.3% | 1.0% | 0.3% | |||
| Return on average equity 2 | 14.3% | 6.1% | 2.6% | 10.2% | 3.7% | |||
| Net interest margin 3 4 | 4.16% | 3.73% | 3.69% | 3.94% | 3.67% | |||
| Efficiency ratio 5 | 59.5% | 76.7% | 84.7% | 66.7% | 85.0% | |||
| Overhead ratio 2 6 | 3.5% | 3.3% | 3.7% | 3.4% | 3.6% | |||
| Equity to assets | 9.7% | 10.1% | 9.4% | 9.7% | 9.4% | |||
| Asset Quality Data and Ratios: | ||||||||
| Charge-offs | $1,773 | $1,890 | $628 | $3,663 | $2,015 | |||
| Recoveries | $391 | $392 | $445 | $783 | $975 | |||
| Net loan charge-offs to total loans 2, 7 | 0.23% | 0.26% | 0.04% | 0.24% | 0.10% | |||
| Allowance for credit losses | $28,217 | $22,605 | $20,785 | $28,217 | $20,785 | |||
| Allowance for credit losses to total loans | 1.14% | 0.94% | 0.97% | 0.97% | 1.14% | 0.97% | ||
| Nonperforming loans | $29,233 | $34,740 | $21,055 | $29,233 | $21,055 | |||
| Nonperforming loans to total loans | 1.2% | 1.4% | 1.0% | 1.2% | 1.0% | |||
| Mortgage Company Equity Method Investees Production Data8: | ||||||||
| Mortgage pipeline | $1,236,366 | $1,126,262 | $1,128,738 | $1,236,366 | $1,128,738 | |||
| Loans originated | $1,491,404 | $1,406,921 | $1,352,603 | $2,898,326 | $2,663,305 | |||
| Loans closed | $927,934 | $936,789 | $882,361 | $1,864,724 | $1,770,383 | |||
| Loans sold | $820,716 | $747,829 | $699,036 | $1,568,546 | $1,343,718 | |||
1 Common equity, less total goodwill and intangibles per common share, a non-U.S. GAAP financial 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 13.
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 · Six Months Ended | |||||
|---|---|---|---|---|---|
| (Dollars in thousands) | June 30, 2026 | March 31, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 |
| Net interest margin - U.S. GAAP basis | |||||
| Net interest income | $32,274 | $28,452 | $25,780 | $60,726 | $52,456 |
| Average interest-earning assets | $3,125,209 | $3,108,569 | $2,824,946 | $3,116,934 | $2,901,701 |
| Net interest margin | 4.14% | 3.71% | 3.66% | 3.93% | 3.65% |
| Net interest margin - non-U.S. GAAP basis | |||||
| Net interest income | $32,274 | $28,452 | $25,780 | $60,726 | $52,456 |
| Impact of fully tax-equivalent adjustment | 119 | 121 | 177 | 241 | 364 |
| Net interest income on a fully tax-equivalent basis | $32,393 | $28,573 | $25,957 | $60,967 | $52,820 |
| Average interest-earning assets | $3,125,209 | $3,108,569 | $2,824,946 | $3,116,934 | $2,901,701 |
| Net interest margin on a fully tax-equivalent basis | 4.16% | 3.73% | 3.69% | 3.94% | 3.67% |
| Core net interest margin - non-U.S. GAAP basis | |||||
| Net interest income on a fully tax-equivalent basis | $32,393 | $28,573 | $25,957 | $60,967 | $52,820 |
| Less: interest income from non-recurring items | (2,272) | — | — | (2,272) | — |
| Core net interest income on a fully tax-equivalent basis | $30,121 | $28,573 | $25,957 | $58,695 | $52,820 |
| Average interest-earning assets | $3,125,209 | $3,108,569 | $2,824,946 | $3,116,934 | $2,901,701 |
| Adjusted net interest margin on a fully tax-equivalent basis | 3.87% | 3.73% | 3.69% | 3.80% | 3.67% |
Non-U.S. GAAP Reconciliation: Tangible Book Value per Common Share and Tangible Common Equity Ratio
(Unaudited) (Dollars in thousands, except per share data)
| June 30, 2026 | March 31, 2026 | June 30, 2025 | |
|---|---|---|---|
| Tangible Book Value per Common Share | |||
| Goodwill | $1,200 | $1,200 | $1,200 |
| Total intangibles | $1,200 | 1,200 | 1,200 |
| Total equity attributable to parent | $344,543 | 334,920 | 302,315 |
| Less: Total intangibles | (1,200) | (1,200) | (1,200) |
| Tangible common equity | $343,343 | $333,720 | $301,115 |
| Tangible common equity | $343,343 | $333,720 | $301,115 |
| Common shares outstanding (000s) | 12,947 | 12,847 | 12,715 |
| Tangible book value per common share | $26.52 | $25.98 | $23.68 |
| Tangible Common Equity Ratio | |||
| Total assets | $3,545,853 | $3,322,298 | $3,224,008 |
| Less: Total intangibles | (1,200) | (1,200) | (1,200) |
| Tangible assets | $3,544,653 | $3,321,098 | $3,222,808 |
| Tangible assets | $3,544,653 | $3,321,098 | $3,222,808 |
| Tangible common equity | $343,343 | $333,720 | $301,115 |
| Tangible common equity ratio | 9.7% | 10.0% | 9.3% |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.