MVB Financial Corp. (MVBF) Financial Statements (2024 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)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments439,31579,024342,558303,28159,06531,820
Cash and cash equivalents398,22940,280310,156275,69640,55122,221
Short-term investments41,08638,74432,40227,58518,5149,599
Total current assets:439,31579,024342,558303,28159,06531,820
Noncurrent Assets
Operating lease, right-of-use asset12,900  17,500 
Property, plant and equipment     21,97426,545
Long-term investments and receivables75,75476,22340,01346,494  
Long-term investments75,75476,22340,01346,494  
Intangible assets, net (including goodwill)3,1905,6196,3044,75023,10318,480
Goodwill2,8383,9883,9882,35019,63018,480
Intangible assets, net (excluding goodwill) 3521,6312,3162,4003,473 
Total noncurrent assets:91,84481,84246,31768,74445,07745,025
Other undisclosed assets2,782,7232,907,9842,403,5741,959,4511,839,9721,674,124
TOTAL ASSETS:3,313,8823,068,8502,792,4492,331,4761,944,1141,750,969
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt4,82110,03711,38510,26610,17214,925
Total current liabilities:4,82110,03711,38510,26610,17214,925
Noncurrent Liabilities
Other undisclosed liabilities3,019,7192,797,4222,505,7612,081,7271,722,0061,559,271
Total liabilities:3,024,5402,807,4592,517,1462,091,9931,732,1781,574,196
Equity
Equity, attributable to parent289,384261,084274,328239,483211,936176,773
Preferred stock    7,3347,3347,834
Common stock13,60613,46612,93512,37411,99511,658
Treasury stock, value(16,741)(16,741)(16,741)(16,741)(1,084)(1,084)
Additional paid in capital160,488157,152143,521129,119122,516116,897
Accumulated other comprehensive income (loss)(28,831)(37,704)(3,606)2,226(1,321)(6,806)
Retained earnings160,862144,911138,219105,17172,49648,274
Equity, attributable to noncontrolling interest(42)307975   
Total equity:289,342261,391275,303239,483211,936176,773
TOTAL LIABILITIES AND EQUITY:3,313,8823,068,8502,792,4492,331,4761,944,1141,750,969

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

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues187,604133,38388,61584,82683,08170,476
Net investment income189,818125,95783,42980,45382,36169,760
Cost of revenue  (2,610) (18,669)(1,663)(1,846)
Provision for loan, lease, and other losses    (16,579)  
Insurance tax(2,610) (2,090)(1,663)(1,846)
Gross profit:187,604130,77388,61566,15781,41868,630
Operating expenses(38,184)(27,118)(14,382)(5,273)(19,955)(16,245)
Other operating income, net
(Noninterest Income, Other Operating Income)
7,8393,4484,3991,3371,6501,336
Operating income:157,259107,10378,63262,22163,11353,721
Nonoperating income (expense)(659)  2,3412,450904
Investment income, nonoperating(659)  2,3411,253(278)
Bank owned life insurance income     1,1971,182
Interest and debt expense(66,535)(14,154)(6,270)(11,627)(22,961)(17,706)
Income from continuing operations before equity method investments, income taxes:90,06592,94972,36252,93542,60236,919
Other undisclosed loss from continuing operations before income taxes(62,771)(74,434)(23,784)(5,992)(7,588)(21,543)
Income from continuing operations before income taxes:27,29418,51548,57846,94335,01415,376
Income tax expense(5,070)(4,128)(9,882)(9,532)(8,450)(3,373)
Income from continuing operations:22,22414,38738,69637,41126,56412,003
Income before gain (loss) on sale of properties:38,69637,41126,99112,003
Income from discontinued operations 8,782   427 
Net income:31,00614,38738,69637,41126,99112,003
Net income attributable to noncontrolling interest226660425   
Net income attributable to parent:31,23215,04739,12137,41126,99112,003
Preferred stock dividends and other adjustments   (35)(461)(479)(489)
Net income available to common stockholders, basic:31,23215,04739,08636,95026,51211,514
Interest on convertible debt      753
Convertible preferred dividends      489
Other undisclosed net loss available to common stockholders, diluted     (427) 
Net income available to common stockholders, diluted:31,23215,04739,08636,95026,08512,756

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:31,00614,38738,69637,41126,99112,003
Other comprehensive income (loss)8,873(34,098)(5,832)322  
Comprehensive income (loss):39,879(19,711)32,86437,73326,99112,003
Comprehensive income, net of tax, attributable to noncontrolling interest226660425   
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    3,2255,485(3,074)
Comprehensive income (loss), net of tax, attributable to parent:40,105(19,051)33,28940,95832,4768,929

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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: