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MVB Financial Corp. Announces Stock Repurchase Program

1. MVB Financial announces a $10 million stock repurchase program. 2. The program aims to enhance shareholder value and reflects strong capital position. 3. Repurchases will start in May 2025, depending on various market factors. 4. CEO emphasizes commitment to shareholders and local communities' success.

Shares Buyback
+4.57%Current Return
VS
-0.49%S&P 500
$18.3705/19 08:45 AM EDTEvent Start
$19.2105/20 03:24 PM EDTLatest Updated
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FAQ

Why Bullish?

Stock buybacks generally lead to increased demand and price appreciation. Historical examples include companies like Apple and Microsoft witnessing stock price gains post-repurchase announcements.

How important is it?

The stock repurchase initiative indicates strong financial health, likely buoying market confidence in MVBF.

Why Long Term?

While immediate effects may vary, buyback impacts are likely to enhance long-term shareholder value, as seen historically in firms maintaining strong fundamentals.

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FAIRMONT, W.Va.--(BUSINESS WIRE)--The Board of Directors of MVB Financial Corp. (“MVBF” or “MVB Financial”) (Nasdaq: MVBF) today announced the authorization of a stock repurchase program of up to $10 million of MVB’s common stock.“MVB’s strong capital position provides the opportunity to execute this stock repurchase program, which further strengthens our already robust shareholder value proposition,” said Larry F. Mazza, CEO, MVB Bank and MVB Financial.Share MVB intends to begin repurchasing stock in May 2025, and the stock repurchase program will expire upon the expenditure of $10 million, when terminated or otherwise completed. Purchases may be made in open-market transactions, in block transactions on or off an exchange, in privately negotiated transactions or by other means as determined by MVB’s management and in accordance with the regulations of the Securities and Exchange Commission. The timing of purchases and the number of shares repurchased under the stock repurchase program will depend on a variety of factors including price, trading volume, market conditions and corporate and regulatory requirements. “MVB’s strong capital position provides the opportunity to execute this stock repurchase program, which further strengthens our already robust shareholder value proposition,” said Larry F. Mazza, CEO, MVB Bank and MVB Financial. “MVB remains committed to the success of our clients, shareholders and the communities we serve.” About MVB Financial Corp. MVB Financial Corp., the holding company of MVB Bank, Inc., is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.” Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its subsidiary, MVB Bank, Inc., and the Bank’s subsidiaries, the Company provides financial services to individuals and corporate clients in the Mid-Atlantic region and beyond. For more information about MVB, please visit http://ir.mvbbanking.com. Forward-Looking Statements MVB Financial Corp. has made forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in this press release that are intended to be covered by the protections provided under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations about the future and subject to risks and uncertainties. Forward-looking statements include, without limitation, information concerning possible or assumed future results of operations of the Company and its subsidiaries. Forward-looking statements can be identified by the use of words such as “may,” “could,” “should,” “would,” “will,” “plans,” “believes,” “estimates,” “expects,” “anticipates,” “intends,” “continues,” or the negative of those terms or similar expressions. Note that many factors could affect the future financial results of the Company and its subsidiaries, both individually and collectively, and could cause those results to differ materially from those expressed in forward-looking statements. Therefore, undue reliance should not be placed upon any forward-looking statements. Those factors include but are not limited to: market, economic, operational, liquidity, and credit risk; changes in market interest rates; inability to successfully execute business plans, including strategies related to investments in financial technology companies; competition; unforeseen events, such as pandemics or natural disasters, and any governmental or societal responses thereto; changes in economic, business, and political conditions; changes in demand for loan products and deposit flow; changes in deposit classifications: operational risks and risk management failures; and government regulation and supervision. Additional factors that may cause actual results to differ materially from those described in the forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, as well as its other filings with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, the Company disclaims any obligation to update, revise, or correct any forward-looking statements. More News From MVB FINANCIAL CORP.

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