Slide 1: Investor Presentation Q2 2023
INVESTOR PRESENTATION Q 2 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 Cashless Casino Strategic M&A Enterprise Risk Management Talent & Cu
Slide 5: Q2 2023 Key Highlights
5 Q2 2023 Key Highlights Source: Company documents and SEC Filings. • Balance sheet loans to deposit ratio of 78.1% • Off-balance sheet deposits increased to $1.1 billion • CRE concentration of 217% of total-risk based capital • MVB Bank’s Total Risk-Based Capital Ratio was 14.9% • Tangible book val
Slide 6: Continued Growth of Deposit Base
6Source: Company documents and SEC Filings $986 $1,267 $1,257 $1,339 $1,971 $279 $716 $1,120 $1,232 $988 $92 $295 $483 $724 $1,062 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 She
Slide 7: Deposit Composition
7 Deposit Composition Source of Deposits CoRe* 64% Fintech 36% Title (C) 6% Speciality (C) 6% Retail (C) 11% Commercial (C) 33% Public Funds (C) 8% Gaming (F) 12% Digital Assets (F) 7% Payments (F) 8% BaaS (F) 9% Deposits Breakdown – 06/30/2023 Source: Company documents and SEC Filings. *Commercial
Slide 8: Ability to Adapt Loan Growth
8 Ability to Adapt Loan Growth $1,096 $1,293 $1,375 $1,428 $1,852 $2,349 $2,282 $- $500 $1,000 $1,500 $2,000 $2,500 2017 2018 2019 2020 2021 2022 YTD 2023 Net Loans ($ Millions) 14% CAGR Source: Company documents and SEC Filings.
Slide 9: Loan Portfolio Composition
9 Loan Portfolio Composition Portfolio by Industry Source: Company Documents. *2.9% of MVB’s total loans were non-owner-occupied office space. Commercial Business 36.6% Commercial Real Estate 26.7% Acquisition & Development 4.6% Home Equity 0.7% Residential 29.2% Consumer 2.2% Other 22.7% Office Spa
Slide 10: Credit Quality
10 Credit Quality
Slide 11: Consistent, Top Tier Asset Quality Through Cycles
11 0.37% 0.94% 0.95% 0.47% 0.59% 0.87% 0.94% 0.64% 0.48% 0.59% -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% 0.25% 0.08% 0.08% 0.04% 0.05% 0.24% 0 0.001 0.002 0.003 0.004 2019 2020 2021 2022 YTD 2023 MVBF - Auto MVBF - Non
Slide 12: Non-Performing Loans
12 Non-Performing Loans Source: Company Documents. All data as of June 30, 2023. By Loan Type Commercial NPLs – by Industry Energy $ 4,473,933 Office $ 1,512,016 Government $ 1,691,392 Other $ 3,123,432 Consumer Auto 7.5% HELOC 1.2% Commercial 79.1% Residential Mtg 12.2% Total Non-Performing Loans:
Slide 13: Gaming Industry Overview
13 Gaming Industry Overview
Slide 14: Sports Betting Anticipated Market Adoption Waves
14 Sports Betting Anticipated Market Adoption Waves • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level An anticipated 88% of the U.S. adult population will have access to regulated sports betting by 2026(1), expanding the potential for the market that produc
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 | July 2023 EKG shows total U.S. sports betting GGR between 2018 and 2027E annually. The market’s recent, exponential growth has been driven by a few factors—namely, the rapid legalization and
Slide 16: U.S. Online Casino – Market Landscape
16 U.S. Online Casino – Market Landscape Source: U.S. Online Casino Monitor | July 2023; EKG’s All States Est. Online Casino GGR By Brand | June 2023; EKG’s All States Est. Online Sports Betting GGR By Brand | May 2023 Operational Authorized But Not Yet Operational 2023 YTD GGR Totals by Online Segm
Slide 17: Growth of Payment Income
17 Growth of Payment Income
Slide 18: Payment card and non-interest income growth
18 Source: Company Documents. ICM is Intercoastal Mortgage Company, LLC. Six Months Ended June 30, 2023 June 30, 2022 Growth ($) Growth (%) Payment card and service charge income: Card acquiring income $ 1,410 $1,733 ($323) (18.6%) Service charges on deposits 2,186 1,845 $341 18.5% Interchange incom
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% 8.1% 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 $ 274,349 Total assets 1,534,302 1,750,969 1,944,114 2,331,476 2,792,449 3,06