Slide 1: Investor Presentation Q4 2024
INVESTOR PRESENTATION Q 4 2 0 2 4 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: Signs of the Clouds Clearing: Moving Forward with Caution & Optimism
Signs of the Clouds Clearing: Moving Forward with Caution & Optimism
Slide 4: MVB's Strategy on a Page (SOAP)
4 Trust Commitment TeamworkRespect, Love & Caring Adaptive Compliance and Risk Management Talent and Culture Operational Excellence Our Why To positively impact people’s financial lives, one life at a time Purpose Trusted partners on the financial frontier, committed to your success MVB’s Strategy o
Slide 5: Key Connection Points Across the MVB Strategy
Victor CoRe Strategic Lending Gaming Payments Payments Gaming Provides deposit and non-interest income, as well as deposit funding sources for lending Provides deposit and non-interest income, and offers a key product to Gaming and Banking-as-a- Service clients to build our moat Provides deposit and
Slide 6: Q4 2024 Key Highlights
Source: Company documents and SEC Filings Q4 2024 Key Highlights • MVB entered into a sale-leaseback transaction, resulting in a pre-tax gain of $11.8M • Book value per share and tangible book value increased 0.7% each, to $23.61 and $23.37, respectively • Noninterest-Bearing Deposits as percentage
Slide 7: Leadership Confidence - Recent Insider Stock Purchases
Source: Company documents and SEC Filings Leadership Confidence - Recent Insider Stock Purchases • Members of MVB’s executive leadership and board of directors purchased stock in March 2025, including: 7 Name Position Number of Shares Purchased Larry F. Mazza Chief Executive Officer 5,818 Donald T.
Slide 8: Payments: Money Movement of Any Kind
Payments: Money Movement of Any Kind Creating a Modern Platform of Capabilities
Slide 9: The Payments Market Is Large and Growing
The Payments Market Is Large and Growing Source: Raymond James 2023 U.S. Card Volume(1) $8.8 Trillion (1) Includes all volume on consumer and commercial credit, debit and pre-paid cards issued in the US by Mastercard and Visa (2) Includes debit and credit card volume on Visa, Mastercard, Amex, Disco
Slide 10: Key Players in the Payment Ecosystem
Key Players in the Payment Ecosystem Source: Raymond James 10
Slide 11: Operating Performance of Payments Banks
Select public & private banks with assets < $10.0bn that derive a significant portion of their revenue from payment related activities Acquiring Banks Issuer Banks Electronic / Fintech Payments Higher capital levels Higher profitability More Efficient / higher fee income Less B/S leverage (2) (3) Hi
Slide 12: Trading Performance of Public Payments Banks
Select public banks with < $10bn in assets that derive a significant portion of their revenue from payment related activities Acquiring Banks Issuer Banks Electronic / Fintech Payments Trading Performance of Public Payments Banks 12
Slide 13: Growth of MVB Payment Vehicle
Growth of MVB Payment Vehicle Source: Company documents and SEC Filings. $128 $170 $331 $478 $0 $100 $200 $300 $400 $500 $600 2021 2022 2023 2024 55% CAGR 13 Payment Revenue ($ Thousands) Average Payment Deposits ($ Millions) $695 $1,495 $4,760 $7,670 2021 2022 2023 2024 123% CAGR
Slide 14: Deposits
Deposits
Slide 15: Continued Growth of Deposit Base
Source: Company documents and SEC Filings $1,267 $1,257 $1,339 $1,704 $1,753 $716 $1,120 $1,232 $1,197 $941 $295 $483 $724 $1,092 $1,425 2020 2021 2022 2023 2024 Total Interest-bearing deposits Total Noninterest-bearing deposits Off Balance Sheet $3,993 On Balance Sheet: NIB/Total Deposits 35%Deposi
Slide 16: On Balance Sheet Deposit Composition
On Balance Sheet Deposit Composition Source of On Balance Sheet Deposits CoRe* 64% Fintech 36% Title (C) 3% Speciality (C) 5% Retail (C) 16% Commercial (C) 30% Public Funds (C) 10% Other (F) 1% Gaming (F) 8% Payments (F) 19% BaaS (F) 8% Deposits Breakdown – 12/31/2024 Source: Company documents and S
Slide 17: Growth of Fintech Banking at MVB | 2020 – 2024
Growth of Fintech Banking at MVB | 2020 – 2024 Source: Company documents and SEC Filings. *Commercial and Retail. (F) – Fintech deposits. (C) – CoRe deposits. $829 $1,624 $1,855 $2,038 $2,289 2020 2021 2022 2023 2024 Gross Deposits ($ Millions) 29% CAGR Gross Fee Income ($ Thousands) 17 $1,286 $6,39
Slide 18: Asset Quality
Asset Quality
Slide 19: Loan Portfolio Composition
Loan Portfolio Composition Portfolio by Industry Source: Company Documents. *3.0% of MVB’s total loans were non-owner-occupied office space. MVB’s CRE concentration as of 12/31/2024 was 234%. Commercial Business 31.8% Commercial Real Estate 30.2% Acquisition & Development 5.5% Home Equity 0.6% Resid
Slide 20: Consistent, Top Tier Asset Quality Through Cycles
0.94% 0.95% 0.47% 0.36% 1.17% 0.94% 0.64% 0.48% 0.52% 0.51% 0.00% 0.50% 1.00% 1.50% 2020 2021 2022 2023 2024 MVBF Peers Non-Performing Loans / Total Loans 0.14% 0.08% 0.36% 0.40% 0.20% 0.08% 0.04% 0.05% 0.29% 0.32% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 2020 2021 2022 2023 2024 MVBF - Auto MVBF - Non-A
Slide 21: Non-Performing Loans
Non-Performing Loans Source: Company Documents. All data as of December 31, 2023. By Loan Type ($ Thousands) NPLs – by Industry ($ Thousands) Energy $ 1,123 Other $ 724 Multifamily $ 13,506 Residential Mtg $ 4,110 Hotel $ 430 SBA Loans (various industries) $ 4,714 Consumer Auto $219 Commercial $6,17
Slide 22: Backer of Fintech
Backer of Fintech
Slide 23: Investments Focused on Strategic Partnerships
$- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 2017 2018 2019 2020 2021 2022 2023 2024 (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 $2.5M s
Slide 24: Capital Strength
Capital Strength
Slide 25: Bank Capital Position
9.8% 9.6% 8.3% 8.6% 9.7% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 2020 2021 2022 2023 2024 Tangible Common Equity / Tangible Assets (%) (1) 11.0% 11.6% 9.8% 10.5% 11.2% 8.5% 9.0% 9.5% 10.0% 10.5% 11.0% 11.5% 12.0% 2020 2021 2022 2023 2024 Tier 1/Community Bank Leverage Ratio (%) Source: Company documents. (1)
Slide 26: Risk Management | Investments in Staffing and Capabilities
Risk Management | Investments in Staffing and Capabilities (3-year trend) Teams 2021 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Risk Management 10 12 11 14 16 22 23 24 24 24 30 27 32 35 30 25 BSA/AML (MVB) 17 19 18 18 18 18 18 18 23 31 50 59 50 60 62 60 BSA/AML (Co-sourced FTEs)
Slide 27: Caution Flag Mitigation
27 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 • Significant investment in risk & compliance team • Technical expertise and experienced FinTech
Slide 28: Awards & Accolades
Awards & Accolades Great Place To Work. Certified FEB 2024-FEB 2025 USA AMERICAN BANKER, Best Banks to Work For ‘AMERICAN BANKER Best Places to Work in Fintech
Slide 29: Tangible Common Equity / Tangible Assets reconciliation
Source: Company documents. Tangible Common Equity / Tangible Assets (%) (Dollars in thousands) 2018 2019 2020 2021 2022 2023 2024 Total equity attributable to parent $ 176,773 $ 211,936 $ 239,483 $ 274,328 $ 261,084 $ 289,342 $ 305,679 Total assets 1,750,969 1,944,114 2,331,476 2,792,449 3,068,860 3