MVB Financial and IFHI mutually terminate merger agreement; no termination fee

MVB FINANCIAL CORP

Termination due to changing market conditions and regulatory delays; no fees to either party.
MVB will continue working relationship with Windsor Advantage, IFHI's SBA/USDA lending subsidiary.
Merger agreement dated August 12, 2022, terminated effective May 9, 2023.
Both companies state they are well-positioned to proceed independently.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

MVB FINANCIAL CORP terminated Agreement and Plan of Merger and Reorganization with Integrated Financial Holdings, Inc. valued at Parties mutually agreed to terminate the Holdco Merger Agreement and Bank Merger Agreement; each par (effective 2023-05-09).

Action: termination
Agreement: merger
Counterparty: Integrated Financial Holdings, Inc.
Value: Parties mutually agreed to terminate the Holdco Merger Agreement and Bank Merger Agreement; each par
Effective: 2023-05-09

Exact text from the filing

On May 9, 2023, MVB, IFHI, West Town Bank, and MVB Bank entered into a Termination Agreement (the “Termination Agreement”) pursuant to which the parties mutually agreed to terminate the Merger Agreements.

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MVB FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001277902-23-000090

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