MVB Financial Corp. MVBF Q2 2026 earnings

N E W S R E L E A S E

MVB Financial Corp. Announces Second Quarter 2026 Results Company to Host a Conference Call and Webcast at 5:00 PM ET (FAIRMONT, WV) July 28, 2026 – MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial,” “MVB” or the “Company”), the holding company for MVB Bank, Inc. (“MVB Bank”), today announced financial results for the second quarter of 2026. The Fintech-enabled bank powering payments, banking-as-a-service and gaming programs for leading Fintech companies nationwide, reported net income of $12.3 million, or $0.95 basic and $0.93 diluted earnings per share, for the second quarter of 2026.

Second Quarter 2026 Highlights (Compared to First Quarter 2026) Net income of $12.3 million, up significantly compared to both Q1 2026 and Q2 2025.

Loan balances up 3.0%, or 12.1% annualized, marking the fifth consecutive quarter of loan growth.

Balance sheet deposits up 7.4%, or 29.5% annualized, including 5.7% growth in noninterest-bearing deposits driven by payments-related deposits.

Exclusive of the previously disclosed $10.0 million pre-tax gain related to an existing Fintech investment recognized in the second quarter, noninterest income up 6.7%, led by 18.1% growth in payment card and service charge income.

Net interest margin on a fully tax-equivalent (“FTE”) basis, a non-U.S. GAAP financial measure¹, expanded 43 basis points; Core FTE net interest margin, a non-U.S. GAAP financial measure¹, up 14 basis points to 3.87%.

From Larry F. Mazza, President and Chief Executive Officer, MVB Financial:

“The strong second quarter results reflected continued progress and momentum across both our core banking franchise and our Fintech banking platform. Loan and deposit growth remained solid, net interest income improved and we saw encouraging momentum across our payments business, contributing to both fee income growth and deposit generation during the quarter. These results demonstrate our diversified business model’s strength and our team’s disciplined execution of our strategy.

¹ See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure later in the release.

“We also successfully resolved our largest nonperforming loan during the quarter through full repayment, improving our credit profile, while benefiting from an improvement in second quarter net interest income. Additionally, the underlying trends across our core banking franchise remained positive as we continued to grow loans, expand our deposit base, strengthen our funding and margin profile and build our Fintech partnership pipeline.

“As previously disclosed, we also recognized a gain during the quarter related to an existing Fintech investment. Together with the successful monetization of our internally incubated Victor platform last year, these transactions demonstrate our ability to both incubate and invest in innovative Fintech businesses. These activities continue to generate shareholder value, while enabling ongoing investment across the business, balance sheet optimization and the long-term growth of the Company’s earnings power.”

SECOND QUARTER 2026 HIGHLIGHTS

• Net Interest Income, Net Interest Margin and Balance Sheet Trends
• FTE net interest income, a non-U.S. GAAP financial measure¹, totaled $32.4 million, up $3.8 million, or 13.4%, from prior quarter, primarily reflecting continued loan growth, a lower overall cost of funds and interest income associated with the successful resolution of the Company’s largest nonperforming loan. Excluding the interest income associated with the loan payoff, FTE net interest income was up 5.4% from the prior quarter.
• FTE net interest margin, a non-U.S. GAAP financial measure¹, increased to 4.16%, up from 3.73% in the prior quarter. The increase primarily reflected continued improvement in the Company’s funding profile, including growth in noninterest-bearing deposits and the full quarter benefit of previously disclosed balance sheet optimization initiatives completed during the first quarter of 2026, loan growth and interest income associated with the resolution of the Company’s largest nonperforming loan. Excluding the aforementioned loan payoff, the core FTE net interest margin, a non-U.S. GAAP financial measure¹, was approximately 3.87%, representing 14 basis points of expansion.
• Total loan balances up $72.7 million, or 3.0%, from the prior quarter to $2.48 billion, reflecting improved market conditions, and representing the fifth consecutive quarter of loan growth.
• Total deposits were $3.11 billion as of June 30, 2026, an increase of $214.0 million, or 7.4%, from the prior quarter-end, including a $58.1 million increase in noninterest-bearing deposits. Growth in payments-related deposits contributed to quarter-end balances, helping diversify the Company’s funding base during what has historically been a seasonally softer quarter for deposit growth particularly in gaming and certain banking-as-a-service relationships.

¹ See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure later in the release.

• Noninterest-bearing deposits represented 34.4% of total deposits as of June 30, 2026, compared to 34.9% as of the prior quarter-end. The loan-to-deposit ratio was 79.6% as compared to 83.0% at the prior quarter-end.
• Noninterest Income and Expense
• Total noninterest income was $18.8 million, compared to $8.2 million in the prior quarter. The increase primarily reflected the previously disclosed $10.0 million pre-tax gain related to an existing Fintech investment. Excluding this gain, core fee income was up 6.7% from the prior quarter, led by continued growth in payment card and service charge income.
• The Company continued to execute its Fintech banking platform strategy during the quarter through new client onboarding and continued progress across its payment business, contributing to growth in both payments-related deposits and payment card revenue.
• Total noninterest expense was $30.4 million, compared to $28.1 million in the prior quarter, an increase of 8.2%. The increase included approximately $0.6 million in nonrecurring expenses, annual merit increases, higher incentive compensation accruals and continued investment in strategic growth initiatives, including the build out of the Company’s specialty lending platform and ongoing technology and artificial intelligence initiatives.
• Asset Quality and Capital
• Nonperforming loans totaled $29.2 million, or 1.2% of total loans, as of June 30, 2026, compared to $34.7 million, or 1.4% of total loans, as of the prior quarter-end. The decline was driven by the successful resolution of the Company’s largest nonperforming loan during the quarter, partially offset by new nonperforming loans, which did not reflect any notable industry or geographic concentration.
• Criticized loans as a percentage of total loans were 3.1% as of June 30, 2026, compared to 3.7% as of March 31, 2026. Classified loans as a percentage of total loans were 1.9%, compared to 2.2% as of the prior quarter end.
• Net charge-offs were $1.4 million, or 0.23% annualized of average loans, for the second quarter, compared to $1.5 million, or 0.26% annualized, for the prior quarter.
• Provision for credit losses totaled $4.7 million, compared to $1.9 million for the prior quarter. The increase in provision for credit losses reflected continued growth of the loan portfolio, specific reserves associated with a small number of isolated credits, as well as updates to the allowance methodology based on current economic conditions and qualitative factors. The allowance for credit losses for loans increased to 1.14% of total loans at June 30, 2026, compared to 0.94% at the prior quarter-end.
• The Community Bank Leverage Ratio, Tier 1 Risk-Based Capital Ratio and MVB Bank’s Total Risk-Based Capital Ratio were 10.3%, 12.2% and 13.2%, respectively, at June 30, 2026, compared to 10.1%, 12.6% and 13.5%, respectively, at the prior quarter-end.
• The tangible common equity ratio, a non-U.S. GAAP financial measure¹, was 9.7% as of June 30, 2026, compared to 10.0% as of March 31, 2026 and 9.3% as of June 30, 2025.
• During the quarter, the Company repurchased 48,432 shares of common stock for approximately $1.2 million at an average price of $25.56 per share under its previously authorized share repurchase program.
• Book value per common share and tangible book value per common share, a non-U.S. GAAP financial measure¹, were $26.61 and $26.52, respectively, at June 30, 2026, compared to $26.07 and $25.98, respectively, at the prior quarter-end.

¹ See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure later in the release.

Conference Call and Webcast

The Company will host a conference call and webcast at 5:00 p.m. Eastern Time today, July 28, 2026, to discuss its quarterly financial results. The call can be accessed via telephone at 877-451-6152 (domestic) or 201-389-0879 (international). A recorded replay can be accessed through August 11, 2026, by dialing 844-512-2921 (domestic) or 412-317-6671 (international); access code: 13760259. Additionally, interested parties can listen to a live webcast of the call on the Company's website at ir.mvbbanking.com. An archived version of the webcast will be available in the same location shortly after the live call has ended.

About MVB Financial Corp.

MVB Financial Corp. (Nasdaq: MVBF) is an innovative bank powering Fintech solutions in payments, card issuance and online gaming programs for leading Fintech companies nationwide, while providing traditional retail and commercial banking services within established markets. MVB’s comprehensive platform includes money movement solutions across all modalities and embedded finance capabilities. MVB combines proven Fintech builder/incubator capabilities, innovative culture, regulatory expertise, core banking and AI-driven operational efficiency to enable Fintech partners to navigate complex regulatory requirements while accelerating time-to-market. For more information about MVB, please visit 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; inability to successfully execute business plans, including strategies related to investments in Fintech companies; competition; industry factors and volatility and disruption in local, national and international political and economic conditions, such as economic slowdowns or recessions, nationally and in the markets in which we operate and other developments such as wars, natural disasters, epidemics or pandemics, military actions, terrorists attacks or geopolitical conflict, and any governmental or societal responses thereto; changes in demand for loan products and deposit flow; changes in deposit classifications; 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, 2025, 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.

Accounting standards require the consideration of subsequent events occurring after the balance sheet date for matters that require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s financial statements when filed with the SEC. Accordingly, the consolidated financial information in this announcement is subject to change.

Questions or comments concerning this earnings release should be directed to:

MVB Financial Corp.

Michael R. Sumbs, Executive Vice President and Chief Financial Officer (844) 682-2265

msumbs@mvbbanking.com

Amy Baker, VP, Corporate Communications and Marketing