FAIRMONT, W.Va.–(BUSINESS THREAD)–MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial,” “MVB” or the “Company”) has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record in September 1, 2022, payable September 15, 2022. This is the third quarterly dividend of 2022, an increase of 21% from the third quarter of 2022 compared to the third quarter of 2021.
“Robust loan growth and a favorable liquidity profile helped drive significant net interest margin expansion in the second quarter, while asset quality measures remained stable,” said Larry F. Mazza , CEO of MVB Financial.
“As part of our MVB-F1: Success Loves Speed remained relatively stable.However, our growth vehicles are gaining speed thanks to significant investment, highlighting the diversification inherent in our business strategy as we continue to maneuver in wet track conditions.
“We are pleased to continue creating value for shareholders. MVB remains opportunistic and looks for deals that make sense for our business model. On August 12, we announced a merger with Integrated Financial Holdings, Inc. which accelerates both our SBA and Strategic Lending Partnerships growth vehicles for the benefit of our customers and shareholders.”
About MVB Financial Corp.
MVB Financial Corp., the holding company of MVB Bank, Inc., is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.” Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its subsidiary, MVB Bank, Inc., and the Bank’s subsidiaries, the Company provides banking services to Fintech customers throughout the United States. For more information on MVB, visit http://ir.mvbbanking.com.
Forward-looking statements
MVB Financial Corp. has made forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in this press release that is intended to be covered by the protections provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations about the future and are subject to risks and uncertainties. Forward-looking statements include, without limitation, information about possible or assumed future results of operations of the company and its subsidiaries. Forward-looking statements can be identified by the use of words such as “may”, “could”, “should”, “should”, “will”, “plans”, “believes”, “estimates”, “expects” “anticipates”, “intends”, “continues” or the negative of such terms or similar expressions. Please note that many factors could affect the future financial results of the company and its subsidiaries, both individually and collectively, and could cause such results to differ materially from those expressed in the forward-looking statements. Accordingly, undue reliance should not be placed on any forward-looking statements. These factors include, but are not limited to: market, economic, operational, liquidity and credit risk; changes in market interest rates; inability to achieve anticipated synergies and successfully integrate recent mergers and acquisitions; inability to successfully execute business plans, including strategies related to investments in financial technology companies; competition; the duration and severity of the COVID-19 pandemic and its impact on the Company’s business and financial condition; changes in economic, business and political conditions; changes in demand for loan products and the flow of deposits; operational risks and failures in risk management; and government regulation and oversight. Additional factors may be encountered that could cause actual results to differ materially from those described in the forward-looking statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as well as its other filings with the SEC. , which are available on the SEC’s website at www.sec.gov. Except as required by law, the Company disclaims any obligation to update, revise or correct any forward-looking statement.
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