MVB Financial Corp. reported its financial results for the second quarter of 2025, revealing a net income of $2.0 million, a decrease from $4.1 million in the same period last year. The company's earnings per share were $0.16, down from $0.32 in the prior year. For the first half of 2025, net income totaled $5.6 million, compared to $8.6 million in the first half of 2024. The decline in profitability was attributed to a decrease in net interest income, which fell to $25.8 million from $27.6 million year-over-year, primarily due to lower yields on earning assets and a reduction in average loan balances.

Total loans receivable increased to $2.15 billion as of June 30, 2025, up from $2.10 billion at the end of 2024. The growth in loans was driven by the Bank's strategic focus on diversifying its loan portfolio, particularly in commercial lending. The provision for credit losses for the second quarter was $2.0 million, reflecting the growth in the loan portfolio, compared to a provision of $0.3 million in the same quarter of the previous year. The allowance for credit losses stood at $20.8 million, or 0.97% of total loans, as of June 30, 2025.

In terms of operational metrics, MVB Financial Corp. reported a total of $2.8 billion in deposits, an increase from $2.69 billion at the end of 2024. Noninterest-bearing demand deposits rose to $1.05 billion, representing 37.4% of total deposits. The Bank's focus on the gaming, payments, and banking-as-a-service sectors has contributed to this growth, with fintech deposits increasing significantly. The company also noted a strategic divestiture, having sold its controlling interest in Trabian Technology, Inc. for $3.5 million, resulting in a gain of $0.6 million.

Looking ahead, MVB Financial Corp. remains committed to expanding its treasury services and enhancing its compliance and risk management capabilities to support growth in its fintech division. The company anticipates potential economic volatility in the markets it operates, which may impact credit quality trends and the ability to generate loans and gather deposits. Management continues to monitor market conditions closely and is focused on maintaining a strong capital position, with a community bank leverage ratio of 11.4% as of June 30, 2025, above the minimum requirement of 9%.

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