MVB Financial Corp. (MVBF) Financial Statements (2025 and earlier)

Company Profile

Business Address 301 VIRGINIA AVENUE
FAIRMONT, WV 26554-2777
State of Incorp. WV
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments360,496439,31579,024342,558303,28159,065
Cash and cash equivalent317,913398,22940,280310,156275,69640,551
Short-term investments42,58341,08638,74432,40227,58518,514
Total current assets:360,496439,31579,024342,558303,28159,065
Noncurrent Assets
Operating lease, right-of-use asset 26,90012,900  17,500 
Property, plant and equipment      21,974
Long-term investments and receivables78,25575,75476,22340,01346,494 
Long-term investments78,25575,75476,22340,01346,494 
Intangible assets, net (including goodwill)3,1003,1905,6196,3044,75023,103
Goodwill2,8382,8383,9883,9882,35019,630
Intangible assets, net (excluding goodwill) 2623521,6312,3162,4003,473
Total noncurrent assets:108,25591,84481,84246,31768,74445,077
Other undisclosed assets2,659,9532,782,7232,907,9842,403,5741,959,4511,839,972
TOTAL ASSETS:3,128,7043,313,8823,068,8502,792,4492,331,4761,944,114
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt2,7594,82110,03711,38510,26610,172
Total current liabilities:2,7594,82110,03711,38510,26610,172
Noncurrent Liabilities
Other undisclosed liabilities2,820,1543,019,7192,797,4222,505,7612,081,7271,722,006
Total liabilities:2,822,9133,024,5402,807,4592,517,1462,091,9931,732,178
Equity
Equity, attributable to parent305,679289,384261,084274,328239,483211,936
Preferred stock     7,3347,334
Common stock13,79313,60613,46612,93512,37411,995
Treasury stock, value(16,741)(16,741)(16,741)(16,741)(16,741)(1,084)
Additional paid in capital164,677160,488157,152143,521129,119122,516
Accumulated other comprehensive income (loss)(28,231)(28,831)(37,704)(3,606)2,226(1,321)
Retained earnings172,181160,862144,911138,219105,17172,496
Equity, attributable to noncontrolling interest 112(42)307975  
Total equity:305,791289,342261,391275,303239,483211,936
TOTAL LIABILITIES AND EQUITY:3,128,7043,313,8823,068,8502,792,4492,331,4761,944,114

Income Statement (P&L) ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues199,632187,604133,38388,61584,82683,081
Net investment income185,842189,818125,95783,42980,45382,361
Cost of revenue   (2,610) (18,669)(1,663)
Provision for loan, lease, and other losses     (16,579) 
Insurance tax(2,610) (2,090)(1,663)
Gross profit:199,632187,604130,77388,61566,15781,418
Operating expenses(41,519)(38,184)(27,118)(14,382)(5,273)(19,955)
Other operating income, net
(Noninterest Income, Other Operating Income)
5,4837,8393,4484,3991,3371,650
Operating income:163,596157,259107,10378,63262,22163,113
Nonoperating income (expense)60(659)  2,3412,450
Investment income, nonoperating60(659)  2,3411,253
Bank owned life insurance income      1,197
Interest and debt expense  (66,535)(14,154)(6,270)(11,627)(22,961)
Income from continuing operations before equity method investments, income taxes:163,65690,06592,94972,36252,93542,602
Other undisclosed loss from continuing operations before income taxes(137,312)(62,771)(74,434)(23,784)(5,992)(7,588)
Income from continuing operations before income taxes:26,34427,29418,51548,57846,94335,014
Income tax expense(6,099)(5,070)(4,128)(9,882)(9,532)(8,450)
Income from continuing operations:20,24522,22414,38738,69637,41126,564
Income before gain (loss) on sale of properties:38,69637,41126,991
Income from discontinued operations  8,782   427
Net income:20,24531,00614,38738,69637,41126,991
Net income (loss) attributable to noncontrolling interest(154)226660425  
Net income attributable to parent:20,09131,23215,04739,12137,41126,991
Preferred stock dividends and other adjustments    (35)(461)(479)
Net income available to common stockholders, basic:20,09131,23215,04739,08636,95026,512
Other undisclosed net loss available to common stockholders, diluted      (427)
Net income available to common stockholders, diluted:20,09131,23215,04739,08636,95026,085

Comprehensive Income ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income:20,24531,00614,38738,69637,41126,991
Other comprehensive income (loss)6008,873(34,098)(5,832)322 
Comprehensive income (loss):20,84539,879(19,711)32,86437,73326,991
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(154)226660425  
Other undisclosed comprehensive income, net of tax, attributable to parent     3,2255,485
Comprehensive income (loss), net of tax, attributable to parent:20,69140,105(19,051)33,28940,95832,476

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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