MVB Financial Q1 2023 Earnings Report

MVB Financial EPS Results

• Actual EPS: $0.20
• Consensus EPS: $0.58
• Beat/Miss: Missed by -$0.38
• One Year Ago EPS: N/A

MVB Financial Revenue Results

• Actual Revenue: $35.80 million
• Expected Revenue: $41.07 million
• Beat/Miss: Missed by -$5.27 million
• YoY Revenue Growth: N/A

MVB Financial Announcement Details

• Quarter: Q1 2023
• Date: 4/27/2023
• Time: N/A

MVB Financial (NASDAQ:MVBF) operates as bank holding company for MVB Bank, Inc that provides financial services to individuals and corporate clients. The company operates through three segments: CoRe Banking, Mortgage Banking, and The Financial Holding Company. It offers various demand deposit accounts, savings accounts, money market accounts, and certificates of deposit; and commercial, consumer, and real estate mortgage loans, as well as lines of credit. The company also provides debit cards; cashier's checks; safe deposit rental facilities; and non-deposit investment services, as well as financial technology (Fintech) banking services. In addition, it offers fintech solutions for the gaming, payments, banking-as-a-service, and digital asset sectors; fraud prevention services for merchants, credit agencies, Fintech companies, and other vendors; and digital products and web and mobile applications for forward-thinking community banks, credit unions, digital banks, and Fintech companies. It operates full-service branches in West Virginia and Virginia. MVB Financial Corp. was founded in 1997 and is based in Fairmont, West Virginia.