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MVB Financial Corp. benefits from a diversified business model combining traditional banking with Fintech services, which may provide stable deposit bases and fee income. Its specialized focus on operational risk and compliance in Fintech banking addresses a complex market with fewer competitors. The company's recent divestitures of non-core subsidiaries could allow greater focus on core banking operations. Its strong capital position under the CBLR framework and access to a revolving credit facility support financial flexibility. The emphasis on culture and employee development may enhance execution and customer service.

The company faces significant competition in both traditional and Fintech banking sectors, including from larger banks and neobanks, which could pressure margins and growth. Concentration risk exists in its deposit base, notably from gaming industry clients, which could impact funding costs if deposits decline. Regulatory changes and compliance costs remain a risk given the extensive oversight of banking operations. The regional concentration of lending and securities portfolios exposes the company to local economic downturns. Recent divestitures may reduce diversification and revenue streams. Limited trading volume of the stock could affect liquidity for investors.

MVB Financial Corp.'s moat is supported by its integrated approach combining traditional commercial and retail banking with specialized Fintech banking services. Its focus on operational risk management and compliance for Fintech clients in complex industries such as payments and gaming provides a niche with limited competition. The company's regional presence in West Virginia and Virginia, along with its diversified loan portfolio and professional services subsidiaries, contributes to customer relationships and revenue stability. Its culture and employee development initiatives may support operational effectiveness. However, competition from larger banks, Fintech-focused banks, and neobanks remains significant, and regulatory compliance requirements impose ongoing operational demands.

• Regulatory and Compliance Risks: MVB Financial Corp. operates in a heavily regulated environment subject to federal and state banking laws. Changes in regulations or failure to comply could materially affect operations and dividend payments.
• Concentration Risk in Deposit Base: A significant portion of deposits comes from gaming industry clients, with three largest clients accounting for $137 million of gaming deposits, posing concentration risk that could impact funding costs and net interest margins if deposits decline.
• Competitive Pressure: The company faces competition from traditional banks, Fintech-focused banks, and neobanks, which may affect its ability to attract deposits and loans, potentially compressing margins.
• Geographic Concentration: The primary market areas are West Virginia and Virginia, with lending and securities portfolios concentrated in these and nearby states, exposing the company to local economic downturns.
• Loan Portfolio Credit Risk: Commercial loans constitute the majority of the loan portfolio and are subject to risks related to borrower cash flow and collateral values, which may be affected by economic conditions.

• MVB Financial Corp. is a financial holding company organized in 2003 as a West Virginia corporation operating principally through its wholly-owned subsidiary, MVB Bank, Inc.
• The Bank's consolidated subsidiaries include MVB Edge Ventures, Inc., Paladin Fraud, LLC, and MVB Insurance, LLC; Edge Ventures wholly owns MVB Technology, LLC and Victor Technologies, Inc.
• The Bank owned an 80.8% interest in Trabian Technology, Inc. as of December 31, 2024, but sold this interest in January 2025.
• In September 2025, MVB sold substantially all assets and operations of Victor Technologies to Jack Henry & Associates, recording a $34.2 million pre-tax gain.
• The company conducts commercial and retail (CoRe) banking services and Fintech banking through the Bank.
• CoRe banking products include demand deposit accounts, savings accounts, money market accounts, certificates of deposit, commercial, consumer and real estate mortgage loans and lines of credit, debit cards, cashier's checks, and safe deposit rental facilities.
• The Fintech banking division provides banking services to corporate Fintech clients across the United States, focusing on operational risk management and compliance, serving payments, banking-as-a-service, and gaming industries.
• Paladin Fraud, a wholly-owned subsidiary, offers fraud prevention services to merchants, credit agencies, Fintech companies, and other vendors.
• The primary market area for CoRe banking services is North Central West Virginia and Northern Virginia, with seven full-service branches.
• 26% of lending activity occurs outside the primary market, including loans to healthcare facilities and SBA lending programs.
• The company has three reportable segments: CoRe Banking (including Fintech), Mortgage Banking (equity method investments in ICM and Warp Speed), and Financial Holding Company activities.
• The Other category includes professional services and Edge Ventures companies, with revenues from consulting and software services.
• As of December 31, 2025, the Bank had $1.71 billion in commercial loans, representing 72.9% of total loans.
• Residential real estate loans, home equity lines of credit, and construction mortgages totaled $609.1 million, or 26% of total loans.
• Consumer loans totaled $25.6 million, or 1.1% of total loans, including installment loans and personal lines of credit.
• The Bank uses a risk-based approach to review commercial loans annually, with external third-party reviews covering 35-40% of the portfolio.
• The company faces significant competition in lending and deposits from other banks, credit unions, insurance companies, Fintech-focused banks, and neobanks.
• The company employs 403 team members as of December 31, 2025, with a focus on culture, diversity, equity, inclusion, and employee development.
• MVB Financial Corp. is subject to extensive federal and state banking regulations affecting its operations and dividend payments.
• The Bank had cash and cash equivalents of $244.1 million as of December 31, 2025.
• Net income for the fiscal year ended December 31, 2025, was $4.225 million.
• Basic earnings per share for the fiscal year ended December 31, 2025, were $0.33, and diluted EPS was $0.32.
• The Bank's total assets were approximately $3.3 billion as of December 31, 2025, and it elected to use the Community Bank Leverage Ratio (CBLR) framework with a ratio of 11.1%.
• In February 2026, MVB entered into a $20 million senior revolving credit facility with Raymond James Bank for general corporate purposes, with an interest rate of 2.75% plus SOFR, resetting monthly.
• Gaming deposits contributed significantly to the deposit base, with $184.3 million on-balance sheet and $104.0 million off-balance sheet as of December 31, 2025, with concentration risk from three largest clients holding $137.0 million of gaming deposits.