Mvb Financial Corp. · NASDAQ:MVBF
Mvb Financial — Investor Day (March 2022)
88 slides from Mvb Financial's investor day presentation, Mar 14, 2022
Slide 1: Investor Day 2022 Las Vegas
1 INVESTOR DAY 2 0 2 2 • L A S V E G A S
Slide 2: Forward-Looking Statements
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
Slide 3: MVB-F1: Success Loves Speed Strategic Plan
3 MVB-F1: Success Loves Speed Strategic Plan
Slide 4: MVB-F1: Success Loves Speed
4 IN REVENUE MCLAREN/DESIGN: ALEX BROOKS MVB-F1: Success Loves Speed
Slide 5: Strategy on a Page (SOAP)
5 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 Fintech Lending Grand Flexia Fintech Venture Fund Strategic M&A Enterprise
Slide 6: Four Lanes on the Track to the Next $100M in Revenue
6 Four Lanes on the Track to the Next $100M in Revenue Provider-of-choice for specialized financial services to gaming, crypto, BaaS/LaaS, and payments companies Banker of Choice to Fintechs Builder and enabler of the next generation of Fintech and embedded finance solutions Builder of Fintechs Stra
Slide 7: Defining Different Stages of Maturity
7 Defining Different Stages of Maturity Desc r ip t i onGauges § Launched on a calibrated line of sight backed by proof points § Concentrated resources to achieve outsized results § Beginning to generate revenue/profitability, course adjustments or recalibration underway § Resources deployed to amas
Slide 8: Defining Different Stages of Maturity
8 SBA Expansion Strategic Lending Partnerships Gaming Crypto & Web3 Acquiring Expansion Venture Portfolio Warp Speed Holdings Issuing Expansion Banking as a Service Victor Fintech Lending Grand Flexia Fintech Venture Fund Banker of Choice to Fintechs Builder of Fintechs Backer of Fintechs T E S T T
Slide 9: Caution Flags – Mitigating Risks
9 Caution Flags – Mitigating Risks 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
Slide 10: The Path to the Podium
10 The Path to the Podium R ev en u e Today 2024 $150-160M ANNUAL REVENUE (per Analyst Estimates)Current Track Fast Track Qualifying & Test Tracks $100M INCREMENTAL REVENUE (3 Years) = $250-260M TOTAL REVENUE +
Slide 11: Strategy on a Page (SOAP)
11 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 Fintech Lending Grand Flexia Fintech Venture Fund Strategic M&A Enterpris
Slide 12: Getting to the Next $100M in Revenue
12 Getting to the Next $100M in Revenue VIRGIL, 19 BC
Slide 13: Financial Picture and Outlook
13 Financial Picture and Outlook
Slide 14: 2021 Results
14 2021 Results
Slide 15: FY 2021 Performance Highlights
15 FY 2021 Performance Highlights Net Interest Income Growth 12% Loan Growth 29% Noninterest-Bearing Deposit Growth 57% Payment Card and Service Income Growth 167% Source: Company documents and SEC filings | All data based upon 12/31 numbers
Slide 16: 2021 – Key Strategic Developments
16 2021 – Key Strategic Developments Building Fintech Strategic Acquisition Resource Allocation & Enhancement Efficient Capital Structure New Business Lines –– Launch of Victor –– Flexia and Trabian Acquisition –– South Branch Sales –– Sub Debt Raise –– Launch of SBA & Card Acquiring Source: Company
Slide 17: Recap of MVB 3.0 Results
17 Recap of MVB 3.0 Results
Slide 18: MVB 3.0: Fundamental Banking with Blue Ocean Opportunities
18 Recap of MVB 3.0 Results MVB 3.0: Fundamental Banking with Blue Ocean Opportunities “The fintech tsunami is brewing and banks are becoming yellow top taxis in an Uber world - we must modernize or become irrelevant!” -Larry F. Mazza
Slide 19: Fintech Initiatives Drive Growth in Low-Cost Deposits
19 Fintech Initiatives Drive Growth in Low-Cost Deposits $1,034 $1,096 $986 $1,267 $1,257 $126 $214 $279 $716 $1,120 2017 2018 2019 2020 2021 Total Interest-bearing deposits Total Noninterest-bearing deposits $102 $152 Source: Company documents and SEC filings | All data based upon 12/31 numbers Dep
Slide 20: Strong MVB 3.0 Execution
20 $8 $12 $27 $37 $39 0 10 20 30 40 50 2017 2018 2019 2020 2021 $0.68 $1.00 $2.20 $3.06 $3.10 0 0.5 1 1.5 2 2.5 3 3.5 2017 2018 2019 2020 2021 Strong MVB 3.0 Execution Source: Company documents and SEC filings | All data based upon 12/31 numbers Net Income ($ Millions) 49% CAGR Diluted Earnings Per
Slide 21: Driving Industry-Leading TBV Growth
21 $11.80 $12.92 $15.20 $19.73 $22.17 2017 2018 2019 2020 2021 Driving Industry-Leading TBV Growth Source: Company documents and SEC filings | All data based upon 12/31 numbers Tangible Book Value (per share) 17% CAGR
Slide 22: Stock Performance Reflects Market Recognition of Execution
22 Stock Performance Reflects Market Recognition of Execution Source: S&P Capital IQ Pro 1/1/2017 1/31/2022 MVBF 212.7% KBW Bank 39.5% NASDAQ Bank 28.3%
Slide 23: Driving Forward: MVB-F1
23 Driving Forward: MVB-F1
Slide 24: Revenue Impact from Growth Vehicles
24 Revenue Impact from Growth Vehicles Source: Company documents and SEC filings 2021 Revenue ($ Millions) 2024 Est. Revenue ($ Millions) $77 $63 $140 Revenue Mix Total Revenue $95 $30 $60 $70 $255 Revenue Mix (Current Track*) Revenue Mix (Fast, Qualifying, and Test Tracks) Total Est. Revenue Net In
Slide 25: MVB's Growth Vehicles Are at Different Stages of Maturity
25 MVB’s Growth Vehicles Are at Different Stages of Maturity SBA Expansion Strategic Lending Partnerships Gaming Crypto & Web3 Acquiring Expansion Venture Portfolio Warp Speed Holdings Issuing Expansion Banking as a Service Victor Fintech Lending Grand Flexia Fintech Venture Fund Banker of Choice to
Slide 26: MVB's Growth Vehicles Are at Different Stages of Maturity
26 MVB’s Growth Vehicles Are at Different Stages of Maturity SBA Expansion Strategic Lending Partnerships Gaming Crypto & Web3 Acquiring Expansion Venture Portfolio Warp Speed Holdings Issuing Expansion Banking as a Service Victor Fintech Lending Grand Flexia Fintech Venture Fund Banker of Choice to
Slide 27: Track Record of Strong Loan Growth
27 Track Record of Strong Loan Growth $1,096 $1,293 $1,375 $1,428 $1,852 $- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 2017 2018 2019 2020 2021 Net Loans ($ Millions) 14% CAGR Source: Company documents and SEC filings | All data based upon 12/31 numbers
Slide 28: Fast Track Vehicles Drive Loan Growth and Evolving Portfolio Mix
28 Fast Track Vehicles Drive Loan Growth and Evolving Portfolio Mix Source: Company documents | All data based upon 12/31 numbers 89% 10% 1% 2021* 51% 29% 20% 2017 2024 $1.1B 70% 28% 2% $1.9BOutstanding Loan Balance *Excluding PPP $2.6B SBA LendingIn-Market Lending Strategic Lending Partnerships
Slide 29: 2022 Loan Growth Drivers
29 2022 Loan Growth Drivers Source: Company documents $60M $100M $100M In-Market Lending SBA Lending Strategic Lending Partnerships
Slide 30: MVB's Growth Vehicles Are at Different Stages of Maturity
30 MVB’s Growth Vehicles Are at Different Stages of Maturity SBA Expansion Strategic Lending Partnerships Gaming Crypto & Web3 Acquiring Expansion Venture Portfolio Warp Speed Holdings Issuing Expansion Banking as a Service Victor Fintech Lending Grand Flexia Fintech Venture Fund Banker of Choice to
Slide 31: Fast Track Vehicles Funding Asset Growth
31 Fast Track Vehicles Funding Asset Growth Source: Company documents | All data based upon 12/31 numbers Gaming Deposits ($ Millions) Crypto Deposits ($ Millions) $51.7 $120.3 $357.9 $912 2018 2019 2020 2021 $12 $97 $129 2018 2019 2020 2021 160% CAGR 228% CAGR
Slide 32: Additional Fee Income Drivers
32 Additional Fee Income Drivers Card Acquiring $2.3M Banking as a Service $2.0M Victor $71K 2021 Fee Income Source: Company documents and SEC filings | All data based upon 12/31 numbers
Slide 33: MVB's Growth Vehicles Are at Different Stages of Maturity
33 MVB’s Growth Vehicles Are at Different Stages of Maturity SBA Expansion Strategic Lending Partnerships Gaming Crypto & Web3 Acquiring Expansion Venture Portfolio Warp Speed Holdings Issuing Expansion Banking as a Service Victor Fintech Lending Grand Flexia Fintech Venture Fund Banker of Choice to
Slide 34: Venture Portfolio Performance
34 Venture Portfolio Performance Source: Company documents 2017 2018 2019 2020 2021 Cash Investment Market Value $0.9M $2.9M $3.5M $5.9M $19.8M 185% IRR
Slide 35: Strategy on a Page (SOAP)
35 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 Fintech Lending Grand Flexia Fintech Venture Fund Enterprise Risk Managem
Slide 36: Strategic M&A
36 Strategic M&A 2015 - BB&T Branches $74M assets 2019 - Chartwell Compliance Enhanced compliance and risk expertise 2020 - Paladin Fraud Enhanced fraud monitoring 2020 - First State Bank $4.7M pre-tax gain 2020 - Intercoastal Mortgage $3.3M pre-tax gain 2021 - Trabian Enhanced internal software dev
Slide 37: Warp Speed Investment Highlights
37 Warp Speed Investment Highlights (1) Represents full year impact based on consensus 2022E EPS assuming Warp’s 2021 pre-tax earnings Financial Impact Investment Highlights Business Overview § Powerful asset generation engine § Diversification of MVB’s loan portfolio § Meaningful earnings accretion
Slide 38: Revenue from Professional Services Division
38 Revenue from Professional Services Division $.9M $4.4M $9.6M 2019 2020 2021 Source: Company documents | All data based upon 12/31 numbers
Slide 39: Recognize, Pivot and Execute
39 Recognize, Pivot and Execute MVB Insurance sold Eastern Panhandle WV banking centers sold South Market WV banking centers sold Source: Company documents $6.3M pre-tax gain $9.6M pre-tax gain $10.8M pre-tax gain 2016 2020 2021
Slide 40: Bank Capital Position
40 Bank Capital Position Source: Company documents and SEC filings | All data based upon 12/31 numbers 8.1% 9.6% 2017 2021 Tangible Common Equity / Tangible Assets 10.7% 11.6% 2017 2021 Tier 1 / Community Bank Leverage Ratio Tier 1 Risk-Based Capital Ratio Total Risk-Based Capital Ratio 13.3% 15.8%
Slide 41: Insider Holdings Reaffirm: We Believe in MVB!
41 Insider Holdings Reaffirm: Source: Company documents We Believe in MVB! 43% I N S T I T U T I O N A L I N V E S T O R S 42% R E T A I L 15% I N S I D E R S
Slide 42: Key Takeaways
42 Key Takeaways • Proven track record of executing on strategic plan • Fast Track Vehicles (SBA Expansion & Strategic Lending Partnerships) drive loan growth and evolving portfolio mix • Continued low-cost deposit expansion opportunity • Diverse fee income Vehicles • Investments providing strategic
Slide 43: Fintech Banking at MVB
43 Fintech Banking at MVB
Slide 44: Fintech Leadership Team: Investments in People
44 Juan Costantini – Chief Legal Officer Daryn Barney – Chief Revenue Officer Eva Bailey – SVP, Client Success & Operations Art Roca – SVP, Product & Program Management Jacinthia Lawson – SVP, Acquiring Sponsorship Cathy Wilkins – SVP, Issuing Sponsorships Tim Green – SVP, Sponsored Lending Mathieu
Slide 45: Why Fintech? The Future is Now
45 Why Fintech? The Future is Now Global Fintech funding has skyrocketed in recent years. Successful banks will be those that embrace Fintech partnerships. $132B in 2021 $49B in 2020 Source: CB Insights State of Venture (2021) 169% INCREASE
Slide 46: The Fintech Ecosystem
The Fintech Ecosystem Source: Company Websites, BI Intelligence ROBO ADVISORS & PERSONAL FINANCE REGTECHS DIGITAL BANKS & BANKING SOFTWARE PROVIDERS PAYMENTS & REMITTANCES BLOCKCHAIN/DLT & BITCOIN INSURTECHS ALTERNATIVE FINANCEDIGITAL ID VERIFICATION
Slide 47: Total Fintech Deposit and Fee Income Growth
47 Total Fintech Deposit and Fee Income Growth Source: Company documents $150 $534 $1,196 2019 2020 2021 D ep os it B al an ce $152 $693 $6,341 2019 2020 2021 N II In 2021 Fintech deposits accounted for 50% of MVB’s total deposits. EOY 2021 Fintech Cost of Funds was 3 bps. 182% CAGR Deposit Growth (
Slide 48: Evolving Fintech Deposit Mix By Vertical
48 Evolving Fintech Deposit Mix By Vertical Source: Company documents 25% 45% 20% 10% 2024 Target Deposit Mix Crypto & Web 3 Gaming Issuing and Acquiring BaaS 9% 81% 6% 4% 2021 Deposit Mix Gaming Crypto & Web 3 Issuing and Acquiring BaaS 100% Gaming 2018 2021 Target 2024 Fintech Deposit Mix
Slide 49: Product Suite for Targeted Verticals
49 Product Suite for Targeted Verticals Source: Company documents and websites PAYMENTSDEPOSITS • Business Accounts • Custodial Accounts • Card (OCT), Issuing • ACH, Wire, RTP • Check • Card (Acquiring/ Sponsorship) • ACH, Wire, RTP, Check LENDING • Forward Flow • Lending Sponsorship • Lending as a
Slide 50: MVB's Growth Vehicles Are at Different Stages of Maturity
50 MVB’s Growth Vehicles Are at Different Stages of Maturity SBA Expansion Strategic Lending Partnerships Gaming Crypto & Web3 Acquiring Expansion Venture Portfolio Warp Speed Holdings Issuing Expansion Banking as a Service Victor Fintech Lending Grand Flexia Fintech Venture Fund Banker of Choice to
Slide 51: MVB's Digital Gaming and Sports Betting Strategy
51 MVB’s Digital Gaming and Sports Betting Strategy Source: Company documents Opportunity Scope Path to Success Key Clients & Partners The MVB Moat • Maintain dominant market position in sports betting, digital gaming, etc. • Supporting 22 states with expansion plans (CA, GA, MA, NC) • Convergence o
Slide 52: MVB Is The Leading Financial Partner to the Online Gaming Industry
52 MVB Is The Leading Financial Partner to the Online Gaming Industry MEDIAB2C OPERATORS iGAMING CONTENT iLOTTERY TECH PAYMENT PROCESSING CASUAL GAME BETTING SPORTS BETTING TECH DFS SPORTS DATA ESPORTS BETTING SPORTS ANALYSIS BANKING DEPOSITS PAM PLATFORMS iLOTTERY GEO LOCATION ESPORTS MEDIA B2B Tec
Slide 53: MVB's Crypto and Web3 Strategy
53 MVB’s Crypto and Web3 Strategy Source: Company documents Opportunity Scope Path to Success Key Clients & Partners The MVB Moat • Expand crypto banking (exchanges, miners, custodians) • Increase deposits and fees from payments • Partnerships (e.g., NYDIG Payroll) and emerging infrastructure platfo
Slide 54: MVB's Card Acquiring Strategy
54 MVB’s Card Acquiring Strategy Source: Company documents Opportunity Scope Path to Success Key Clients & Partners The MVB Moat • Top tier risk-adjusted returns from industries we know • Furthering opportunities with Crypto Wallets and Gaming platforms • Existing partnerships with top providers wor
Slide 55: MVB's Card Issuing Strategy
55 MVB’s Card Issuing Strategy Source: Company documents Opportunity Scope Path to Success Key Clients & Partners The MVB Moat • Integrations with modern issuing platforms and more on the way • Leverage existing Gaming and Crypto verticals into issuing opportunities • High growth vertical expertise
Slide 56: MVB's Banking-as-a-Service Strategy
56 MVB’s Banking-as-a-Service Strategy Source: Company documents Opportunity Scope Path to Success Key Clients & Partners The MVB Moat • Premier partners offering MVB white-labeled banking services in niche markets • Scale nationally through increased consumer and commercial-based offerings • Balanc
Slide 57: Key Takeaways
57 Key Takeaways • NIB deposit trends favorable heading into higher interest rate environment • Gaming industry tailwinds continue; building a moat • Serving several top merchant processors and ISOs • Card issuing business gaining traction; expecting materially positive impact in future periods • Fu
Slide 58: Enterprise Risk Management & Driving Profit from Cost Centers
58 Enterprise Risk Management & Driving Profit from Cost Centers
Slide 59: MVB Risk Management as a Differentiator
59 MVB Risk Management as a Differentiator Overall Enterprise Risk Management (ERM) Proactive Regulator engagement Build ERM for future growth Consumer Compliance AML/BSA/KYC FinTech Client Due Diligence and Monitoring “Playbooks” tailored to specific risks
Slide 60: Industry Verticals and Products
60 Industry Verticals and Products Industry Verticals: • Online Gaming & Sports Betting • Digital Assets Banking Products: • Payments • Banking as a Service (BaaS) • Acquiring Sponsorships • Issuing Sponsorships
Slide 61: Risk Management Playbooks
61 Risk Management Playbooks Each “Playbook” contains: • Risk Assessments • Policies • Staffing – with industry expertise • Supporting Procedures • Training • Audit Plans • Board-level Reporting
Slide 62: Experienced Senior Leaders
62 Experienced Senior Leaders John Marion, Chief Operating Officer Angie Lucas, Chief Risk Officer Michael De Tommaso, General Counsel Chris Lucas, Chief Compliance Officer Bobbie Paul, Head of Fraud & Identity Risk Jennifer Winters, Chief Operational Risk Officer Over the past 18 months, we’ve adde
Slide 63: Investments in the Risk Team
63 Investments in the Risk Team 1Q 2020 1Q 2021 1Q 2022 BSA/AML: 10 FTE All Other: 10 FTE Total Risk: 20 FTE BSA/AML: 19 FTE All Other: 21 FTE Total Risk: 40 FTE BSA/AML: 35 FTE All Other: 30FTE Total Risk: 65 FTE Source: Company documents
Slide 64: Chartwell – MVB Support
64 Chartwell – MVB Support MVB leverages Chartwell to support: • BSA/AML monitoring for the Credit Karma program • AML Systems Optimization • Fintech client prospects – Risk Program Development
Slide 65: Chartwell – Compliance Offerings
65 Chartwell – Compliance Offerings • State financial services licensing services • Financial crimes prevention Team • ~65 former state and federal regulators and practitioners from fintech & banking Differentiators • One-stop shop for fintechs to fulfill their state and federal compliance function
Slide 66: Paladin – MVB Support
66 MVB leverages Paladin to support: • Identity Risk Management design and implementation • Cryptocurrency Fraud Monitoring • Fintech client prospects – Risk Program Development Paladin – MVB Support
Slide 67: MVB's CoRe: An Engine for Sound, Profitable, Robust Growth
67 MVB’s CoRe An Engine for Sound, Profitable, Robust Growth
Slide 68: Track Record of Strong Loan Growth
68 Track Record of Strong Loan Growth $1,096 $1,293 $1,375 $1,428 $1,852 $- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 2017 2018 2019 2020 2021 Net Loans ($ Millions) 14% CAGR Source: Company documents and SEC filings | All data based upon 12/31 numbers
Slide 69: Fast Track Vehicles Drive Loan Growth and Evolving Portfolio Mix
69 Fast Track Vehicles Drive Loan Growth and Evolving Portfolio Mix Source: Company documents | All data based upon 12/31 numbers 89% 10% 1% 2021* 51% 29% 20% 2017 2024 $1.1B 70% 28% 2% $1.9BOutstanding Loan Balance *Excluding PPP $2.6B SBA LendingIn-Market Lending Strategic Lending Partnerships
Slide 70: 2022 Loan Growth Drivers
70 2022 Loan Growth Drivers Source: Company documents $60M $100M $100M In-Market Lending SBA Lending Strategic Lending Partnerships
Slide 71: SBA is Well Positioned on the Fast Track
71 SBA is Well Positioned on the Fast Track Strength of Team History and Proven Track Record Current Performance
Slide 72: Increasing Incoming Wire Transactions and Wire Funds
72 Increasing Incoming Wire Transactions and Wire Funds 26,869 80,701 275,430 2019 2020 2021 Incoming Wire Transactions $10.13 B $19.13 B $28.77 B 2019 2020 2021 Incoming Wire Funds 200% 241% 88% 50% Source: Company documents
Slide 73: Increasing Outgoing Wire Transactions and Wire Funds
73 Increasing Outgoing Wire Transactions and Wire Funds 37,666 88,235 240,435 2019 2020 2021 Outgoing Wire Transactions $9.97 B $18.59 B $28.03 B 2019 2020 2021 Outgoing Wire Funds 134% 172% 86% 51% Source: Company documents
Slide 74: Introducing MVB Edge Ventures: Builder of Fintechs
74 Introducing MVB Edge Ventures: Builder of Fintechs
Slide 75: Translate Fintech Banking Success to Fintech Building Success
75 Translate Fintech Banking Success to Fintech Building Success Global Fintech Funding ($ Billions) Fi n te ch F u n d in g $150 $534 $1,196 2019 2020 2021 D ep os it B al an ce 182% CAGR Deposit Growth ($ Millions) $152 $693 $6,341 2019 2020 2021 N II Fee Income Growth ($ Thousands) 546% CAGR Sour
Slide 76: Edge Ventures Performance Metrics
76 Edge Ventures Performance Metrics 1. Revenue and earnings contributions to MVB 2. Creating competitive advantage for MVB Bank in key markets such as gaming, crypto, or Banking-as-a-Service 3. Value of MVB investment in the company(s)
Slide 77: MVB Edge Ventures – Company Overview
77 MVB Edge Ventures – Company Overview Cashless Casino Payments White Label BaaS UX Banking APIs and Risk Tools
Slide 78: Victor Overview
78 Victor Overview T R U S T E D B Y Banks:Fintechs: …can onboard complex fintech partners …can streamline due diligence and review cycles w/fintechs …can automate tasks to save time …can easily implement banking services via API and offer new products …can reduce the cost to launch new products …ca
Slide 79: Victor Product Roadmap
79 Victor Product Roadmap Payments and Banking API Vantage Risk Management Tools ü Phase I – COMPLETED Phase II – CURRENT Phase III – PLANNED Phase I – CURRENT Phase II – PLANNED Phase III – FUTURE Wires ACH Virtual Ledgers FBO Accounts Card Load / Collect Real-Time Payments KYC Card Issuing DDA Acc
Slide 80: Trabian Partnerships
80 Trabian Partnerships Industry Leadership Fintech PartnersIntegration Partners >100 Banks and Credit Unions
Slide 81: MVB Edge Ventures – Trabian Support
81 MVB Edge Ventures – Trabian Support Cashless Casino Payments White Label BaaS UX Banking APIs and Risk Tools
Slide 82: Edge Ventures Vision
82 Edge Ventures Vision Gaming PaymentsCrypto BaaS • Industries that we know well and have strong relationships with; • Complementary value to other MVB businesses; • Product we can get to market quickly Banking Operations Risk & Compliance Technology Investment Thesis
Slide 83: Wrap-Up
83 Wrap-Up
Slide 84: Strategy on a Page (SOAP)
84 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 Fintech Lending Grand Flexia Fintech Venture Fund Strategic M&A Enterpris
Slide 85: MVB-F1: Success Loves Speed
85 IN REVENUE MCLAREN/DESIGN: ALEX BROOKS MVB-F1: Success Loves Speed
Slide 86: Appendix
86 Appendix
Slide 87: Tangible Common Equity / Tangible Assets Reconciliation
87 2017 2021 Total Equity attributable to parent $ 150,192 $ 274,328 Less: Preferred Equity 7,834 - Common Equity 142,358 274,328 Less: Intangible Assets 19,126 6,304 Total Tangible Common Equity 123,232 268,024 Total Assets 1,534,302 2,792,449 Less: Intangible Assets 19,126 6,304 Total Tangible Ass
Slide 88: Tangible Book Value per Share Non-GAAP Reconciliation
88 2017 2018 2019 2020 2021 Goodwill $18,480 $18,480 $19,630 $2,350 $3,988 Intangibles 646 550 3,473 2,400 2,316 Total Intangibles 19,126 19,030 23,103 4,750 6,304 Total Equity attributable to parent 150,192 176,773 211,936 239,483 $274,328 Less: Preferred equity (7,834) (7,834) (7,334) (7,334) - Le