MVB Financial Corp. Declares First Quarter 2024 Dividend
February 20 2024 - 8:30AM
Business Wire
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 as of March 1, 2024, payable on March
15, 2024. This is the first quarterly dividend for 2024.
“MVB closed a challenging year for the banking industry with
strong fourth quarter results. Loans and investment securities
continued to reprice higher, excess liquidity was redeployed as the
pace of loan growth picked up and funding costs stabilized, driving
significant improvement in net interest margin and net interest
income. At the same time, expenses were well-controlled,
Fintech-related fee income growth accelerated and measures of
safety, soundness, foundational strength and shareholder value were
improved and further enhanced,” said Larry F. Mazza, Chief
Executive Officer, MVB Financial.
“Team MVB’s resilience and adaptability enabled us to navigate
the disruptive industry events last year, and now leave us
well-positioned to drive further improvement in earnings and
profitability as market conditions begin to turn favorably.”
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
clients throughout the United States. For more information about
MVB, please visit http://ir.mvbbanking.com.
Forward-Looking Statements
MVB Financial 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 are intended to be covered by the
protections provided under 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 concerning 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,” “would,” “will,” “plans,”
“believes,” “estimates,” “expects,” “anticipates,” “intends,”
“continues,” or the negative of those terms or similar expressions.
Note that many factors could affect the future financial results of
the Company and its subsidiaries, both individually and
collectively, and could cause those results to differ materially
from those expressed in forward-looking statements. Therefore,
undue reliance should not be placed upon any forward-looking
statements. Those factors include but are not limited to: market,
economic, operational, liquidity, and credit risk; changes in
market interest rates; impacts related to or resulting from recent
bank failures and volatility; inability to achieve anticipated
synergies and successfully integrate recent mergers and
acquisitions; inability to successfully execute business plans,
including strategies related to investments in Fintech companies;
competition; the pace of recovery following the continued effects
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
deposit flow; operational risks and risk management failures; and
government regulation and supervision. Additional factors that may
cause actual results to differ materially from those described in
the forward-looking statements can be found in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2022, as well
as its other filings with the Securities and Exchange Commission
(“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 statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240220784604/en/
MEDIA Amy Baker VP, Corporate Communications
and Marketing MVB Bank abaker@mvbbanking.com
(844) 682-2265
INVESTOR RELATIONS Marcie Lipscomb
mlipscomb@mvbbanking.com (844) 682-2265
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