---
schema_version: "secwatch.filing_event.v1"
accession: "0001277902-23-000153"
form_type: "8-K"
ticker: "MVBF"
cik: "0001277902"
company_name: "MVB FINANCIAL CORP"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-12T23:49:21.492372+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# MVB Financial Q2 2023 net income $8.1M; deposits down 6.1%, margin contracts 60bps

## Summary
- Net income of $8.1M ($0.63 diluted EPS); NIM (tax-equivalent) fell 60bps QoQ to 3.80%.
- Total deposits declined 6.1% ($191.9M) to $2.96B QoQ; NIB deposits down 12.9%.
- Sold $20.4M subprime auto loans; allowance for credit losses released $4.2M vs provision of $4.6M in Q1.
- Noninterest expense rose 6.9% to $30.3M on professional fees for risk/compliance build-out.
- Off-balance sheet deposits grew to $1.1B; loan-to-deposit ratio 78.1%; no FHLB borrowings outstanding.

## SEC filing metadata
- accession: 0001277902-23-000153
- form_type: 8-K
- ticker: MVBF
- cik: 0001277902
- company_name: MVB FINANCIAL CORP
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1277902/000127790223000153/0001277902-23-000153-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1277902/000127790223000153/mvbf-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001277902-23-000153
- JSON: https://secwatch.observer/filing/0001277902-23-000153.json
- Plain text: https://secwatch.observer/filing/0001277902-23-000153.txt

## Key facts
- Earnings Releases
  MVB FINANCIAL CORP reported second quarter of 2023 results: net income $8.1 million, EPS $0.64 basic and $0.63 diluted earnings per share.
  - Period: second quarter of 2023
  - Net income: $8.1 million
  - EPS: $0.64 basic and $0.63 diluted earnings per share
  - Result: reported results
  source text: MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial,” “MVB” or the “Company”), the holding company for MVB Bank, Inc. ("MVB Bank"), today announced financial results for the second quarter of 2023, with reported net income of $8.1 million, or $0.64 basic and $0.63 diluted earnings per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1277902/000127790223000153/0001277902-23-000153-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.