Earnings ·
MVB Financial Corp. reported second quarter 2026 net income of $12.3 million, or $0.95 basic and $0.93 diluted…
MVBFMvb Financial Corp
MVB Financial Corp. reported second quarter 2026 net income of $12.3 million, or $0.95 basic and $0.93 diluted earnings per share, a significant increase from the prior quarter. The results included a $10.0 million pre-tax gain from an existing Fintech investment. Excluding this gain, noninterest income rose 6.7%, driven by 18.1% growth in payment card and service charge income. Total loans grew 3.0% to $2.48 billion, marking the fifth consecutive quarter of loan growth, while total deposits increased 7.4% to $3.11 billion. The fully tax-equivalent net interest margin expanded 43 basis points to 4.16%, with the core margin at 3.87%. Nonperforming loans declined to $29.2 million following the resolution of the largest nonperforming loan. The company also repurchased 48,432 shares for approximately $1.2 million during the quarter. MVB Financial Corp. operates as a bank holding company providing payments, banking-as-a-service, and gaming programs for Fintech companies alongside traditional retail and commercial banking services.