Business
MVB Financial Corp. Reports Strong Third Quarter 2020 Results with a 50% Increase in Net Income, a 134% Increase in Noninterest-Bearing Deposits, and a 25% Increase In Tangible Book Value from Previous Year
FAIRMONT, W. Va.--(BUSINESS WIRE)-- MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial,” “MVB,” or the “Company”) today reported net income of $6.5 million,
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[{"type":"text","content":" FAIRMONT, W. Va.--(BUSINESS WIRE)--\nMVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial,” “MVB,” or the “Company”) today reported net income of $6.5 million, or $0.53 basic and diluted earnings per share for the three months ended September 30, 2020.\n\n\n\n \n\n\n\n \n\n\n\nQuarterly\n\n\n\n \n\n\n\nYear-to-Date\n\n\n\n\n\n \n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n\n\n \n\n\n\n \n\n\n\nThird Quarter\n\n\n\n \n\n\n\nSecond Quarter\n\n\n\n \n\n\n\nThird Quarter\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet income from continuing operations\n\n\n\n \n\n\n\n$\n\n\n\n6,491\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n18,034\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n4,346\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n25,573\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n22,469\n\n\n\n \n\n\n\n\n\nNet income from discontinued operations\n\n\n\n \n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n(19)\n\n\n\n \n\n\n\n \n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n427\n\n\n\n \n\n\n\n\n\nNet income\n\n\n\n \n\n\n\n$\n\n\n\n6,491\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n18,034\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n4,327\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n25,573\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n22,896\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nEarnings per share from continuing operations - basic\n\n\n\n \n\n\n\n$\n\n\n\n0.53\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.50\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.36\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2.11\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.89\n\n\n\n \n\n\n\n\n\nEarnings per share from discontinued operations - basic\n\n\n\n \n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n0.04\n\n\n\n \n\n\n\n\n\nEarnings per share - basic\n\n\n\n \n\n\n\n$\n\n\n\n0.53\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.50\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.36\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2.11\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.93\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nEarnings per share from continuing operations - diluted\n\n\n\n \n\n\n\n$\n\n\n\n0.53\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.49\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.35\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2.07\n\n\n\n \n\n\n\n \n\n\n\n$\n...