MVB Financial Corp. (MVBF)

MVB Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	161.98	163.2	120.82	80.52	77.57	78.82
Interest Income on Investments	30.51	26.62	5.13	2.91	2.89	3.54
Total Interest Income	192.48	189.82	125.96	83.43	80.45	82.36
Interest Paid on Deposits	73.37	61.66	10.48	3.98	10.29	17.44
Interest Paid on Borrowings	3.71	4.88	3.68	2.29	1.33	5.52
Total Interest Expense	77.08	66.54	14.15	6.27	11.63	22.96
Net Interest Income	115.4	123.28	111.8	77.16	68.83	59.4
Net Interest Income Growth (YoY)	-8.14%	10.27%	44.90%	12.11%	15.87%	14.11%
Mortgage Banking Activities	-	-	-	-	33.43	41.05
Gain (Loss) on Sale of Assets	-0.11	-1.1	4.98	-	0.01	-
Gain (Loss) on Sale of Investments	1.3	-1.66	0.93	7.66	4.79	13.59
Gain (Loss) on Sale of Equity Investments	-2.33	-2.5	-0.71	17.43	24.17	-
Other Non-Interest Income	26.8	25.6	20.72	15.81	11.46	9.45
Total Non-Interest Income	25.96	19.6	27.57	45.07	74.2	64.6
Non-Interest Income Growth (YoY)	38.72%	-28.89%	-38.84%	-39.26%	14.85%	67.19%
Revenues Before Loan Losses	141.36	142.88	139.37	122.23	143.02	124
Provision for Loan Losses	1.11	-1.92	14.19	-6.28	16.58	1.79
Revenue	140.25	144.81	125.17	128.5	126.44	122.22
Revenue Growth (YoY)	-0.86%	15.68%	-2.59%	1.63%	3.46%	38.48%
Salaries and Employee Benefits	61.03	59.98	59.32	49.76	59.28	54.42
Federal Deposit Insurance	4.02	4.44	2.61	2.03	2.09	1.66
Selling, General & Administrative	44.52	42.7	39.46	34.93	27.84	24.68
Other Non-Interest Expense	7.34	10.51	8.77	5.09	7.93	6.44
Total Non-Interest Expense	116.91	117.63	110.15	91.81	97.14	87.2
EBT Excluding Unusual Items	23.34	27.18	15.03	36.7	29.3	35.01
Other Unusual Items	0.11	0.11	-	10.78	17.64	-
Pretax Income	23.46	27.29	15.03	47.48	46.94	35.01
Income Tax Expense	4.74	5.07	3.29	9.64	9.53	8.45
Earnings From Continuing Operations	18.72	22.22	11.73	37.84	37.41	26.56
Earnings From Discontinued Operations	-	8.78	2.65	0.86	-	0.43
Minority Interest in Earnings	-0.16	0.23	0.66	0.43	-	-
Net Income	18.56	31.23	15.05	39.12	37.41	26.99
Preferred Dividends & Other Adjustments	-	-	-	0.04	0.46	0.48
Net Income to Common	18.56	31.23	15.05	39.09	36.95	26.51
Net Income Growth	-37.77%	107.56%	-61.54%	4.57%	38.61%	124.87%
Basic Shares Outstanding	13	13	12	12	12	12
Diluted Shares Outstanding	13	13	13	13	12	12
Shares Change (YoY)	0.68%	0.98%	2.04%	4.35%	0.36%	-5.32%
EPS (Basic)	1.45	2.46	1.23	3.32	3.13	2.26
EPS (Diluted)	1.41	2.40	1.17	3.10	3.06	2.20
EPS Growth	-38.66%	105.44%	-62.36%	1.24%	39.38%	118.96%
Dividend Per Share	0.680	0.680	0.680	0.510	0.360	0.195
Dividend Growth	0%	0%	33.33%	41.67%	84.62%	77.27%
Effective Tax Rate	20.18%	18.58%	21.92%	20.31%	20.31%	24.13%

Source: S&P Capital IQ. Banks template. Financial Sources.