MVB Financial Q3 net income $2.1M ($0.16 EPS); digital asset wind-down hit EPS by $0.29

MVB FINANCIAL CORP

2024-Q3 EPS reported $0.81

Net interest margin (FTE) 3.61%, down 14 bps QoQ; $0.3M brokered CD termination costs weighed on margin.
Payments-related deposits surged 60.8% QoQ; total deposits rose 4.1% to $3.00B.
Nonperforming loans increased to $28.6M (1.3% of loans) from $23.1M; provision for credit losses $1.0M.
Capital ratios improved: CBLR 10.9%, Tier 1 Risk-Based 14.9%; tangible book value $23.20, up 2.2% QoQ.
Total loans declined 1.6% QoQ to $2.17B; loan pipeline improved per management.

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