debt
confidence high
sentiment neutral
materiality 0.55
MVB Financial enters $20M senior revolving credit facility with Raymond James Bank
MVB FINANCIAL CORP
- Credit line of $20M, SOFR + 2.75% (current rate 6.43%), matures Feb 2029.
- Proceeds for general corporate purposes and to repay existing subordinated debt.
- Secured by pledge of equity interests in certain subsidiaries.
- Covenants include bank well-capitalized status, Total Risk-Based Capital ≥11.50%, and Fixed Charge Coverage ≥2.00x.
item 1.01item 2.03item 9.01