secwatch.observer — SEC 8-K summary
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Issuer:     MVB FINANCIAL CORP (MVBF)
CIK:        0001277902
Form:       8-K
Filed at:   2023-02-17T23:59:59+00:00
Accession:  0001277902-23-000023
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MVB Financial Q4 net income $6.5M ($0.50 diluted EPS); net interest margin expands 32 bps QoQ
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- Q4 net income $6.5M vs $2.7M in Q3 2022; diluted EPS $0.50 vs $0.21; FY 2022 net income $15.0M vs $39.1M in 2021.
- Net interest margin (tax-equiv) 4.57%, up 32 bps QoQ; net interest income $33.7M, up 12% QoQ.
- Noninterest income fell 22.8% QoQ to $6.3M; exited bitcoin mining loans with $3.8M loss on sale of $10.7M loans.
- Merger with Integrated Financial Holdings received shareholder approval; expected close in Q1 2023.
- Net charge-offs $5.4M (0.91% annualized) vs $1.3M in Q3, driven by one commercial relationship and consumer portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1277902/000127790223000023/0001277902-23-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1277902/000127790223000023/mvbf-20230217.htm
  HTML page:      https://secwatch.observer/filing/0001277902-23-000023

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