Slide 1: Investor Presentation Q1 2023
INVESTOR PRESENTATION Q 1 2 0 2 3 M V B – F 1 : S U C C E S S L O V E S S P E E D
Slide 2: Forward-looking statements
MVB Financial Corp. (“MVB” or the “Company”) 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 presentation that are intended to be covered by the protections p
Slide 3: Driving on a Wet Track with the Caution Flag Out: Adapting to the Wet Track
3 Driving on a Wet Track with the Caution Flag Out: Adapting to the Wet Track
Slide 4: MVB's Strategy on a Page (SOAP)
4 Trust Commitment TeamworkRespect, Love & Caring Adaptive Our Why To positively impact the financial lives of 1 billion people, one life at a time Purpose Trusted partners on the financial frontier, committed to your success Grand Flexia Strategic M&A Enterprise Risk Management Talent & Culture Tar
Slide 5: Continued Growth of Deposit Base
5Source: Company documents and SEC Filings $986 $1,267 $1,257 $1,339 $2,017 $279 $716 $1,120 $1,232 $1,134 $92 $295 $483 $724 $1,037 2019 2020 2021 2022 YTD 2023 Total Interest-bearing deposits Total Noninterest-bearing deposits Off Balance Sheet On Balance Sheet: NIB/Total Deposits 22% On Balance S
Slide 6: Deposit Composition
6 Deposit Composition Source of Deposits CoRe* 56% Fintech 44% Digital Assets (F) 9.7% Payments (F) 6.4% BaaS (F) 9.1% Gaming (F) 18.8% Title 4.2% Speciality 5.2% Retail 11.1% Commercial 27.9% Public Funds 7.6% Deposits Breakdown Source: Company documents and SEC Filings. *Commercial and Retail. (F)
Slide 7: Ability to Adapt: Loan Growth
7 Ability to Adapt Loan Growth $1,096 $1,293 $1,375 $1,428 $1,852 $2,349 $2,326 $- $500 $1,000 $1,500 $2,000 $2,500 2017 2018 2019 2020 2021 2022 YTD 2023 Net Loans ($ Millions) 13% CAGR Source: Company documents and SEC Filings.
Slide 8: Loan Portfolio Composition
8 Loan Portfolio Composition Portfolio by Industry Source: Company Documents. *2.76% of MVB’s total loans were non-owner-occupied office space. Commercial Business 35.9% Commercial Real Estate 25.9% Acquisition & Development 4.2% Home Equity 0.7% Residential 30.0% Consumer 3.3% Other 24.8% Office Sp
Slide 9: Credit Quality
9 Credit Quality
Slide 10: Consistent, Top Tier Asset Quality Through Cycles
10 0.37% 0.94% 0.95% 0.47% 0.55% 0.87% 0.94% 0.64% 0.48% 0.63% -0.40% 0.30% 1.00% 1.70% 2019 2020 2021 2022 YTD 2023 MVBF Peers Non-Performing Loans / Total Loans 0.07% 0.14% 0.08% 0.36% 0.28% 0.08% 0.08% 0.04% 0.05% 0.15% 0.00% 0.10% 0.20% 0.30% 0.40% 2019 2020 2021 2022 YTD 2023 MVBF Peers NCOs /
Slide 11: Non-Performing Loans
11 Non-Performing Loans Source: Company Documents. All data as of March 31, 2023. By Loan Type – YTD 2023 Commercial NPLs – by Industry Energy $ 4,892,766 Office $ 1,537,685 Government $ 1,692,976 Other $ 1,060,869 Consumer Auto 7.5% HELOC 1.4% Commercial 70.2% Residential Mtg 20.9% Total Non-Perfor
Slide 12: Opportunistic Sale Enhances Shareholder Value and Generates Capital
12 Opportunistic Sale Enhances Shareholder Value and Generates Capital Key Takeaways • Sale price: $14.4M • Pre-tax gain: $11.8M • Originally purchased in September 2019 for $4.1M with 16 employees and $4M in revenue • In addition to the sale, MVB entered into a 3-year contract with the Chartwell te
Slide 13: Gaming Industry Overview
13 Gaming Industry Overview
Slide 14: Sports Betting Anticipated Market Adoption Waves
14 Sports Betting Anticipated Market Adoption Waves Source: 1- EKG – US Sports Betting Policy Monitor | January 2023; 2 – EKG’s U.S Sports Betting Market Monitor | February 2023 An anticipated 88% of the U.S. adult population will have access to regulated sports betting by 2026(1), expanding the pot
Slide 15: US Sports Betting Gross Gaming Revenue Outlook
15 US Sports Betting Gross Gaming Revenue (GGR) Outlook Source: 1 – EKG’s U.S Sports Betting Market Monitor | February 2023 ; Source 2 – VIXIO Gambling Compliance estimates EKG shows total U.S. sports betting GGR between 2018 and 2023E annually. The market’s recent, exponential growth has been drive
Slide 16: U.S. Online Casino – Market Landscape
16 U.S. Online Casino – Market Landscape Source: U.S. Online Casino Monitor | January 2023; EKG’s All States Est. Online Casino GGR By Brand | December 2022; EKG’s U.S. Sports Betting Market Monitor | January 2023 Operational Authorized But Not Yet Operational 2022 GGR Totals by Online Segments 6 Op
Slide 17: Growth of Payment Income
17 Growth of Payment Income
Slide 18: Payment Card and Service Charge Income
18 Source: Company Documents. Three Months Ended March 31, 2023 March 31, 2022 Growth ($) Growth (%) Payment card and service charge income: Card acquiring income $ 622 $983 ($361) (36.7%) Service charges on deposits 1,126 872 $254 29.1% Interchange income 1,862 787 $1,075 136.6% Total payment card
Slide 19: Backer of Fintech
19 Backer of Fintech
Slide 20: Investments Focused on Strategic Partnerships
20 $- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 2016 2017 2018 2019 2020 2021 2022 YTD 2023 (i n t h o u sa n d s) Cash Investment Estimated Fair Value Investments Focused on Strategic Partnerships Source: Company documents. Backer of Fintech • Realized gains of
Slide 21: Capital Strength
21 Capital Strength
Slide 22: Bank Capital Position
22 8.1% 8.7% 9.5% 9.8% 9.6% 8.3% 7.5% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 2017 2018 2019 2020 2021 2022 YTD 2023 Tangible Common Equity / Tangible Assets (%) (1) 10.7% 10.2% 9.9% 11.0% 11.6% 9.8% 10.0% 8.5% 9.0% 9.5% 10.0% 10.5% 11.0% 11.5% 12.0% 2017 2018 2019 2020 2021 2022 YTD 2023 Tier 1/Commun
Slide 23: Our Awards & Accolades
Our Awards & Accolades Great [RNUHCNIN Sim | ; ——— f Place § Best Banks ky i ‘ «i to Work For BEST ork. IN FINANCIAL Certified P -BAI Quartz &INSURANCE™ NOV 2021-NOV 2022 Sy INNOUATION EMPLOYER MEMBER i Onze, 7. I~ (( THE SMARTER RANKING BANKING. oDiersnyiee ?) BANK TECHNOLOGY THE BEST BANKS AWARD z
Slide 24: Caution Flag Mitigation
24 Caution Flag Mitigation Asset Quality Risk • Long history of strong asset quality • Proactive portfolio management • Disciplined and staged approach to new areas of lending Compliance/ Regulatory Risk • Investment in team through Chartwell and Paladin acquisitions • Technical expertise and experi
Slide 25: Tangible Common Equity / Tangible Assets reconciliation
25Source: Company documents. Tangible Common Equity / Tangible Assets (%) (Dollars in thousands) 2017 2018 2019 2020 2021 2022 YTD 2023 Total stockholders’ equity $ 150,192 $ 176,773 $ 211,936 $ 239,483 $ 274,328 $ 261,084 $ 271,131 Total assets 1,534,302 1,750,969 1,944,114 2,331,476 2,792,449 3,06