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 fourth quarter and year ended December 31, 2025. The Fintech-enabled bank powering payments, banking-as-a-service, Fintech lending sponsorship and gaming programs for leading Fintech companies nationwide reported net income of $4.2 million, or $0.33 basic and $0.32 diluted earnings per share, for the fourth quarter 2025.

Fourth Quarter 2025 Highlights As Compared To Third Quarter 2025

Net interest income grew 6.8% to $28.4 million.

Expanded net interest margin by 17 basis points to 3.70%.

Strong loan growth at 3.7%.

Noninterest bearing deposits up to 40.3% of total deposits.

Payment card and service charge income increased 19.4%.

Maintained strong capital and liquidity positions.

Onboarding payment opportunities and pipeline remained robust.

From Larry F. Mazza, Chief Executive Officer, MVB Financial:

"MVB delivered solid fourth quarter results to close out a successful 2025, with strong momentum building across our entire business platform. We benefited from the tailwind of net interest income growth, net interest margin expansion and a third consecutive quarter of strong loan growth. Loan pipelines remain healthy and core fee income categories continue to build momentum as we enter the first quarter of 2026, positioning us for sustained growth.

"2025 was a year of significant accomplishment for MVB – one in which we strengthened fundamentals across the board, sharpened our strategic focus and laid the groundwork for sustained improvement. Additionally, the successful sale of Victor validated our innovative Fintech incubator strategy, while providing capital flexibility to accelerate our growth initiatives and further optimize our balance sheet. We're executing on our strategic initiatives and building toward enhanced profitability that positions us well for 2026 and beyond. In addition, my recent personal decision to exercise options and retain all shares underscores my deep confidence in our strategic execution and strong momentum in our business."

FOURTH QUARTER 2025 HIGHLIGHTS

Continued strong loan growth and net interest margin expansion drive robust net interest income growth.
- Net interest income and net interest income on a fully tax-equivalent basis, a non-GAAP financial measure¹, increased $1.8 million, or 6.8%, to $28.4 million and $1.7 million, or 6.5%, to $28.5 million, respectively, relative to the prior quarter, primarily reflecting a higher net interest margin and higher average earning asset balances.
- Net interest margin and net interest margin on a fully tax-equivalent basis, a non-GAAP financial measure¹, was 3.70% and 3.71%, up 17 and 16 basis points, respectively, from the prior quarter, primarily reflecting lower funding costs and higher average earning asset yields.
- Total cost of funds was 2.30%, a nine basis point improvement from the prior quarter, reflecting lower rates paid on all interest-bearing deposit categories and a positive shift in the mix of interest-bearing liabilities.
- The yield on average earning assets was 5.94%, up four basis points from the prior quarter, reflecting a positive shift in the mix of earning assets, including higher loan and investment portfolio balances and less cash, and higher investment portfolio yields, owing to the previously-disclosed balance sheet restructuring actions.
- Total loan balances were $2.34 billion at December 31, 2025, an increase of $83.8 million, or 3.7%, from September 30, 2025, and $243.0 million, or 11.6%, from December 31, 2024. The increase relative to the prior quarters reflects stronger loan demand and improved market conditions.
Deposit mix shift improvement led by growth in noninterest bearing deposits.
- Total deposits increased $66.0 million, or 2.4%, to $2.84 billion at December 31, 2025 relative to the prior quarter. Noninterest bearing deposits ("NIB") totaled $1.14 billion as of December 31, 2025, an increase of $117.5 million, or 11.4%, from September 30, 2025 and $203.7 million, or 21.6%, from December 31, 2024. NIB deposits represented 40.3% of total deposits as of December 31, 2025, compared to 37.0% of total deposits as of September 30, 2025 and 34.9% as of December 31, 2024. Growth in NIB deposits compared to prior quarters primarily reflected strong growth from new and existing relationship partners.
Noninterest income and noninterest expense lower due to previously disclosed events; Core fee categories show momentum.
- Noninterest income totaled $10.7 million for the fourth quarter of 2025, a decline of $23.9 million, or 69.1%, from the prior quarter, due primarily to the $34.1 million gain on sale of Victor Technologies, Inc. ("Victor"), partially offset by the $7.6 million net loss on the sale of available-for-sale investment securities related to the strategic repositioning of the securities portfolio during the third quarter of 2025.
- Payment card and service charge income was $4.5 million, up 19.4% from $3.8 million during the prior quarter, due primarily to higher card acquiring income and interchange income. Equity method investment income from MVB's mortgage segment was $2.8 million, up from $2.4 million in the prior quarter.
- Noninterest expense totaled $31.5 million, a decline of $1.8 million, or 5.5%, from the prior quarter, due primarily to a decline in compensation-related costs associated with the sale of Victor during the prior quarter.
Measures of foundational strength were generally stable.
- The Community Bank Leverage Ratio, Tier 1 Risk-Based Capital Ratio and MVB Bank's Total Risk-Based Capital Ratio were 11.1%, 13.7%, and 14.5%, respectively, compared to 11.1%, 14.1%, and 15.0%, respectively, at the prior quarter-end.
- The common equity to assets ratio and tangible common equity ratio, a non-GAAP financial measure¹, were both 10.1% as of December 31, 2025, in line with the prior quarter-end level.
- Book value per common share and tangible book value per common share, a non-GAAP measure¹, were $26.26 and $26.17, respectively, which represent increases of 0.7% relative to the prior quarter-end.
- Nonperforming loans totaled $30.7 million, or 1.3% of total loans, as of December 31, 2025, compared to $26.2 million, or 1.2% of total loans, as of the prior quarter-end. Approximately two-thirds of nonperforming loans consist of commercial real estate and residential mortgage loans with a weighted-average loan to value of 55.5%.
- Criticized loans as a percentage of total loans were 3.6% as of December 31, 2025, compared to 4.1% as of the prior quarter end.
- Classified loans as a percentage of total loans were 2.3% as of December 31, 2025, compared to 2.4% as of the prior quarter end.
- Net charge-offs were $3.9 million, or 0.68% annualized of total loans, compared to $0.7 million, or 0.12% annualized of total loans for the prior quarter. The increased level of net charge-offs for the quarter is attributed to aggressively managing certain commercial and industrial and Small Business Administration credits where we had built specific reserves and is expected to normalize going forward. The provision for credit losses totaled $2.1 million, compared to $4.4 million for the prior quarter. Provision expense for the fourth quarter of 2025 included strong loan growth. The allowance for credit losses was 0.93% of total loans at December 31, 2025, as compared to 1.03% at the prior quarter-end.

¹See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure later in the release.

About MVB Financial Corp.

MVB Financial, the holding company of MVB Bank, is publicly traded on The Nasdaq Capital Market® ("Nasdaq") under the ticker "MVBF."

MVB is a financial holding company headquartered in Fairmont, West Virginia. Through its subsidiary, MVB Bank, and MVB Bank's subsidiaries, MVB Financial provides financial services to individuals and corporate clients in the Mid-Atlantic region and beyond.

Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services.

For more information about MVB, please visit ir.mvbbanking.com.

Forward-looking Statements

MVB Financial 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 are 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 Fintech companies; competition; unforeseen events, such as pandemics or natural disasters, and any governmental or societal responses thereto; changes in economic, business and political conditions, including, without limitation, the imposition of international trade policies and any retaliatory responses thereto; 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 Securities and Exchange Commission ("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.

Accounting standards require the consideration of subsequent events occurring after the balance sheet date for matters that require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company's financial statements when filed with the SEC. Accordingly, the consolidated financial information in this announcement is subject to change.

Non-GAAP Financial Measures

This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses these non-GAAP measures in its analysis of the Company's performance. These measures should not be considered a substitute for GAAP basis measures, nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of non-GAAP financial measures that exclude the impact of specified items provide useful supplemental information that is essential to a proper understanding of the Company's financial condition and results. Non-GAAP measures are not formally defined under GAAP, and other entities may use calculation methods that differ from those used by the Company. As a complement to GAAP financial measures, management believes these non-GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-GAAP measures. See the tables below for a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures.

MVB Financial Corp. Financial Highlights Consolidated Statements of Income (Unaudited) (Dollars in thousands, except per share data)

	Three Months Ended						Twelve Months Ended
	2025		2025		2024		2025			2024
	Fourth Quarter		Third Quarter		Fourth Quarter		2025			2024
Interest income	$	45,490	$	44,220	$	43,058	$	175,323	$	185,842
Interest expense		17,111		17,647		18,154		67,915		76,644
Net interest income		28,379		26,573		24,904		107,408		109,198
Provision for credit losses		2,143		4,427		331		8,737		3,541
Net interest income after provision for credit losses		26,236		22,146		24,573		98,671		105,657

Total noninterest income		10,701		34,612		21,280		60,266		42,913

Noninterest expense:
Salaries and employee benefits		17,372		21,399		18,795		70,984		67,955
Other expense		14,114		11,932		14,825		51,103		54,271
Total noninterest expenses		31,486		33,331		33,620		122,087		122,226

Income before income taxes		5,451		23,427		12,233		36,850		26,344
Income taxes		1,226		6,291		2,795		9,928		6,099
Net income, before noncontrolling interest		4,225		17,136		9,438		26,922		20,245
Net loss (income) attributable to noncontrolling interest		—		—		2		18		(154	)
Net income available to common shareholders	$	4,225	$	17,136	$	9,440	$	26,940	$	20,091

Earnings per share - basic	$	0.33	$	1.36	$	0.73	$	2.11	$	1.56
Earnings per share - diluted	$	0.32	$	1.32	$	0.72	$	2.06	$	1.53

Noninterest Income (Unaudited) (Dollars in thousands)

	Three Months Ended								Twelve Months Ended
		2025			2025			2024		2025			2024
	Fourth Quarter			Third Quarter			Fourth Quarter			2025			2024
Card acquiring income	$	908		$	500		$	489	$	2,455		$	1,413
Service charges on deposits		831			970			859		4,034			4,573
Interchange income		2,741			2,283			2,470		11,382			10,314
Total payment card and service charge income		4,480			3,753			3,818		17,871			16,300

Equity method investments income		2,796			2,395			1,319		8,151			1,421
Compliance and consulting income		21			56			1,110		584			4,675
Gain (loss) on sale of loans		—			—			1,012		(149	)		1,038
Investment portfolio gains (losses)		3,452			(6,638	)		721		(3,660	)		1,945
Gain on divestiture activity		160			34,086			—		34,854			—
(Loss) gain on disposal of assets		—			(47	)		11,771		(404	)		11,703
(Loss) gain on derivatives		(466	)		—			60		(466	)		60
Other noninterest income		258			1,007			1,469		3,485			5,771

Total noninterest income	$	10,701		$	34,612		$	21,280	$	60,266		$	42,913

Condensed Consolidated Balance Sheets (Unaudited) (Dollars in thousands)

	December 31, 2025			September 30, 2025			December 31, 2024
Cash and cash equivalents	$	244,125		$	300,042		$	317,913
Securities available-for-sale, at fair value		410,510			324,709			410,959
Equity securities		50,643			44,199			42,583
Loans receivable		2,343,163			2,259,386			2,100,131
Less: Allowance for credit losses		(21,827	)		(23,322	)		(19,663	)
Loans receivable, net		2,321,336			2,236,064			2,080,468
Premises and equipment, net		10,379			10,351			12,475
Assets held-for-sale		—			—			2,278
Other assets		271,925			317,588			262,028
Total assets	$	3,308,918		$	3,232,953		$	3,128,704

Noninterest-bearing deposits	$	1,144,682		$	1,027,231		$	940,994
Interest-bearing deposits		1,697,364			1,748,847			1,752,621
Subordinated debt		74,026			73,976			73,787
Liabilities held-for-sale		—			—			720
Other liabilities		58,878			55,147			54,791
Stockholders' equity		333,968			327,752			305,791
Total liabilities and stockholders' equity	$	3,308,918		$	3,232,953		$	3,128,704

Average Balances and Interest Rates (Unaudited) (Dollars in thousands)

	Three Months Ended								Three Months Ended								Three Months Ended
	December 31, 2025								September 30, 2025								December 31, 2024
	Average Balance			Interest Income/ Expense			Yield/ Cost		Average Balance			Interest Income/ Expense			Yield/ Cost		Average Balance			Interest Income/ Expense			Yield/ Cost
Assets
Interest-bearing balances with banks	$	363,831		$	3,618		3.95	%	$	410,979		$	4,396		4.24	%	$	358,699		$	4,191		4.65	%
Investment securities:
Taxable		330,865			3,888		4.66			299,747			3,144		4.16			290,468			2,199		3.01
Tax-exempt ¹		53,162			556		4.15			94,081			822		3.47			105,190			851		3.22
Loans and loans held-for-sale: ²
Commercial		1,720,707			30,663		7.07			1,589,996			29,194		7.28			1,504,730			28,727		7.59
Tax-exempt ¹		2,399			27		4.47			2,588			29		4.45			2,939			32		4.33
Real estate		500,193			5,412		4.29			527,420			5,638		4.24			560,790			6,025		4.27
Consumer		73,657			1,449		7.80			61,642			1,177		7.58			64,700			1,219		7.50
Total loans		2,296,956			37,551		6.49			2,181,646			36,038		6.55			2,133,159			36,003		6.71
Total earning assets		3,044,814			45,613		5.94			2,986,453			44,400		5.90			2,887,516			43,244		5.96
Less: Allowance for credit losses		(23,497	)							(21,157	)							(21,542	)
Cash and due from banks		11,614								11,012								6,407
Other assets		309,283								299,774								284,294
Total assets	$	3,342,214							$	3,276,082							$	3,156,675

Liabilities
Deposits:
NOW	$	820,803		$	5,687		2.75	%	$	746,687		$	5,676		3.02	%	$	529,505		$	4,092		3.07	%
Money market checking		481,573			2,864		2.36			486,684			3,216		2.62			344,546			2,296		2.65
Savings		153,130			1,147		2.97			151,801			1,249		3.26			68,875			288		1.66
IRAs		7,406			66		3.54			7,410			67		3.59			8,085			92		4.53
CDs		587,912			6,429		4.34			601,020			6,628		4.38			834,668			10,561		5.03
Repurchase agreements and federal funds sold		3,153			13		1.64			3,309			14		1.68			3,904			21		2.14
FHLB and other borrowings		—			—		—			145			—		—			11			—		—
Subordinated debt		74,015			905		4.85			73,951			797		4.28			73,765			804		4.34
Total interest-bearing liabilities		2,127,992			17,111		3.19			2,071,007			17,647		3.38			1,863,359			18,154		3.88
Noninterest-bearing demand deposits		824,967								862,124								961,142
Other liabilities		58,816								43,482								35,055
Total liabilities		3,011,775								2,976,613								2,859,556

Stockholders' equity
Common stock		13,954								13,883								13,785
Paid-in capital		168,589								166,488								163,986
Treasury stock		(26,917	)							(25,578	)							(16,741	)
Retained earnings		189,132								172,258								161,382
Accumulated other comprehensive loss		(14,319	)							(27,582	)							(25,416	)
Total stockholders' equity attributable to parent		330,439								299,469								296,996
Noncontrolling interest		—								—								123
Total stockholders' equity		330,439								299,469								297,119
Total liabilities and stockholders' equity	$	3,342,214							$	3,276,082							$	3,156,675

Net interest spread (tax-equivalent)							2.75	%							2.52	%							2.08	%
Net interest income and margin (tax-equivalent) ¹				$	28,502		3.71	%				$	26,753		3.55	%				$	25,090		3.46	%
Less: Tax-equivalent adjustments				$	(123	)						$	(180	)						$	(186	)
Net interest spread							2.74	%							2.49	%							2.05	%
Net interest income and margin				$	28,379		3.70	%				$	26,573		3.53	%				$	24,904		3.43	%
¹In order to make pre-tax income and resultant yields on tax-exempt loans and investment securities comparable to those on taxable loans and investment securities, a tax-equivalent adjustment has been computed using a Federal tax rate of 21% for the periods presented, which is a non-GAAP financial measure. See the reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 12. ²Non-accrual loans are included in total loan balances, lowering the effective yield for the portfolio in the aggregate.

	Twelve Months Ended								Twelve Months Ended
	December 31, 2025								December 31, 2024
	Average Balance			Interest Income/ Expense			Yield/ Cost		Average Balance			Interest Income/ Expense			Yield/ Cost
Assets
Interest-bearing balances with banks	$	387,985		$	16,340		4.21	%	$	422,165		$	21,814		5.17	%
Investment securities:
Taxable		315,936			12,618		3.99			261,986			7,693		2.94
Tax-exempt ¹		86,231			3,052		3.54			104,765			3,287		3.14
Loans and loans held-for-sale: ²
Commercial		1,573,561			116,248		7.39			1,570,284			122,839		7.82
Tax-exempt ¹		2,632			117		4.45			3,175			139		4.38
Real estate		527,951			22,737		4.31			564,633			25,474		4.51
Consumer		64,840			4,878		7.52			70,943			5,314		7.49
Total loans		2,168,984			143,980		6.64			2,209,035			153,766		6.96
Total earning assets		2,959,136			175,990		5.95			2,997,951			186,560		6.22
Less: Allowance for loan losses		(20,947	)							(22,108	)
Cash and due from banks		9,472								5,246
Other assets		309,450								302,304
Total assets	$	3,257,111							$	3,283,393

Liabilities
Deposits:
NOW	$	687,351		$	19,463		2.83	%	$	521,337		$	17,587		3.37	%
Money market checking		416,336			10,457		2.51			396,881			12,770		3.22
Savings		128,233			3,898		3.04			115,270			3,756		3.26
IRAs		7,487			282		3.77			7,990			338		4.23
CDs		664,472			30,394		4.57			760,714			38,654		5.08
Repurchase agreements and federal funds sold		3,427			66		1.93			3,477			44		1.27
FHLB and other borrowings		1,300			59		4.54			25			2		6.46
Senior term loan³		—			—		—			2,355			264		11.21
Subordinated debt		73,922			3,296		4.46			73,667			3,229		4.38
Total interest-bearing liabilities		1,982,528			67,915		3.43			1,881,716			76,644		4.07
Noninterest-bearing demand deposits		915,744								1,071,900
Other liabilities		48,764								37,683
Total liabilities		2,947,036								2,991,299

Stockholders' equity
Common stock		13,865								13,738
Paid-in capital		166,424								162,811
Treasury stock		(21,854	)							(16,741	)
Retained earnings		176,329								161,181
Accumulated other comprehensive loss		(24,698	)							(28,821	)
Total stockholders' equity attributable to parent		310,066								292,168
Noncontrolling interest		9								(74	)
Total stockholders' equity		310,075								292,094
Total liabilities and stockholders' equity	$	3,257,111							$	3,283,393

Net interest spread (tax-equivalent)							2.52	%							2.15	%
Net interest income and margin (tax-equivalent) ¹				$	108,075		3.65	%				$	109,916		3.67	%
Less: Tax-equivalent adjustments				$	(667	)						$	(718	)
Net interest spread							2.49	%							2.13	%
Net interest income and margin				$	107,408		3.63	%				$	109,198		3.64	%
¹ In order to make pre-tax income and resultant yields on tax-exempt loans and investment securities comparable to those on taxable loans and investment securities, a tax-equivalent adjustment has been computed using a Federal tax rate of 21% for the periods presented, which is a non-GAAP financial measure. See the reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 12. ²Non-accrual loans are included in total loan balances, lowering the effective yield for the portfolio in the aggregate. ³ The senior term loan was paid off in May 2024, and the unamortized debt issuance costs were recorded as interest expense upon the repayment.

Selected Financial Data (Unaudited) (Dollars in thousands, except per share data)

	Three Months Ended									Twelve Months Ended
		2025			2025			2024			2025			2024
	Fourth Quarter			Third Quarter			Fourth Quarter				2025			2024
Earnings and Per Share Data:
Net income	$	4,225		$	17,136		$	9,440			26,940			20,091
Earnings per share - basic	$	0.33		$	1.36		$	0.73		$	2.11		$	1.56
Earnings per share - diluted	$	0.32		$	1.32		$	0.72		$	2.06		$	1.53
Cash dividends paid per common share	$	0.17		$	0.17		$	0.17		$	0.68		$	0.68
Book value per common share	$	26.26		$	26.07		$	23.61		$	26.26		$	23.61
Tangible book value per common share ¹	$	26.17		$	25.98		$	23.37		$	26.17		$	23.37
Weighted-average shares outstanding - basic		12,630,451			12,615,475			12,937,364			12,775,242			12,890,161
Weighted-average shares outstanding - diluted		13,082,568			13,010,527			13,195,215			13,105,521			13,136,758

Performance Ratios:
Return on average assets ²		0.5	%		2.1	%		1.2	%		0.8	%		0.6	%
Return on average equity ²		5.1	%		22.9	%		12.7	%		8.7	%		6.9	%
Net interest margin ^{3 4}		3.71	%		3.55	%		3.46	%		3.65	%		3.67	%
Efficiency ratio ⁵		80.6	%		54.5	%		72.8	%		72.8	%		80.4	%
Overhead ratio ^{2 6}		3.8	%		4.1	%		4.3	%		3.7	%		3.7	%
Equity to assets		10.1	%		10.1	%		9.8	%		10.1	%		9.8	%

Asset Quality Data and Ratios:
Charge-offs	$	4,143		$	967		$	2,677		$	7,125		$	7,757
Recoveries	$	256		$	295		$	1,153		$	1,526		$	3,357
Net loan charge-offs to total loans ^{2 7}		0.68	%		0.12	%		0.29	%		0.26	%		0.20	%
Allowance for credit losses	$	21,827		$	23,322		$	19,663		$	21,827		$	19,663
Allowance for credit losses to total loans ⁸		0.93	%		1.03	%		0.94	%		0.93	%		0.94	%
Nonperforming loans	$	30,655		$	26,214		$	24,607		$	30,655		$	24,607
Nonperforming loans to total loans		1.3	%		1.2	%		1.2	%		1.3	%		1.2	%

Mortgage Company Equity Method Investees Production Data⁹:
Mortgage pipeline	$	1,127,211		$	1,174,362		$	1,025,742		$	1,127,211		$	1,025,742
Loans originated	$	1,455,199		$	1,546,353		$	1,325,698		$	5,664,857		$	5,228,415
Loans closed	$	1,027,560		$	1,014,469		$	947,004		$	3,812,413		$	3,366,493
Loans sold	$	721,185		$	702,938		$	777,821		$	2,767,843		$	2,988,639
¹Common equity less total goodwill and intangibles per common share, a non-GAAP measure. See the reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 12. ² Annualized for the quarterly periods presented. ³ Net interest income as a percentage of average interest-earning assets. ⁴ Presented on a fully tax-equivalent basis, a non-GAAP financial measure. ⁵ Noninterest expense as a percentage of net interest income and noninterest income, a non-GAAP measure. ⁶ Noninterest expense as a percentage of average assets, a non-GAAP measure. ⁷ Charge-offs, less recoveries. ⁸ Excludes loans held for sale. ⁹Information is related to Intercoastal Mortgage Company, LLC and Warp Speed Holdings LLC, entities in which MVB has an ownership interest that are accounted for as equity method investments.

Non-GAAP Reconciliation: Net Interest Income and Net Interest Margin on a Fully Tax-Equivalent Basis The following table reconciles, for the periods shown below, net interest income on a fully tax-equivalent basis and net interest margin on a fully tax-equivalent basis:

	Three Months Ended									Twelve Months Ended
(Dollars in thousands)	December 31, 2025			September 30, 2025			December 31, 2024			December 31, 2025			December 31, 2024
Net interest margin - GAAP basis
Net interest income	$	28,379		$	26,573		$	24,904		$	107,408		$	109,198
Average interest-earning assets		3,044,814			2,986,453			2,887,516			2,959,136			2,997,951
Net interest margin		3.70	%		3.53	%		3.43	%		3.63	%		3.64	%

Net interest margin - non-GAAP basis
Net interest income	$	28,379		$	26,573		$	24,904		$	107,408		$	109,198
Impact of fully tax-equivalent adjustment		123			180			186			667			718
Net interest income on a fully tax-equivalent basis	$	28,502		$	26,753		$	25,090		$	108,075		$	109,916
Average interest-earning assets		3,044,814			2,986,453			2,887,516			2,959,136			2,997,951
Net interest margin on a fully tax-equivalent basis		3.71	%		3.55	%		3.46	%		3.65	%		3.67	%

Non-GAAP Reconciliation: Tangible Book Value per Common Share and Tangible Common Equity Ratio (Unaudited) (Dollars in thousands, except per share data)

	December 31, 2025			September 30, 2025			December 31, 2024
Tangible Book Value per Common Share
Goodwill	$	1,200		$	1,200		$	2,838
Intangibles		—			—			262
Total intangibles	$	1,200		$	1,200		$	3,100

Total equity attributable to parent	$	333,968		$	327,752		$	305,679
Less: Total intangibles		(1,200	)		(1,200	)		(3,100	)
Tangible common equity	$	332,768		$	326,552		$	302,579

Tangible common equity	$	332,768		$	326,552		$	302,579
Common shares outstanding (000s)		12,716			12,570			12,945
Tangible book value per common share	$	26.17		$	25.98		$	23.37

Tangible Common Equity Ratio
Total assets	$	3,308,918		$	3,232,953		$	3,128,704
Less: Total intangibles		(1,200	)		(1,200	)		(3,100	)
Tangible assets	$	3,307,718		$	3,231,753		$	3,125,604

Tangible assets	$	3,307,718		$	3,231,753		$	3,125,604
Tangible common equity	$	332,768		$	326,552		$	302,579
Tangible common equity ratio		10.1	%		10.1	%		9.7	%

View source version on businesswire.com: https://www.businesswire.com/news/home/20260212373079/en/

Questions or comments concerning this earnings release should be directed to:

MVB Financial Corp.

Michael R. Sumbs, Executive Vice President and Chief Financial Officer

(844) 682-2265

msumbs@mvbbanking.com

Amy Baker, VP, Corporate Communications and Marketing

(844) 682-2265

abaker@mvbbanking.com

MVB Financial Corp. Announces Fourth Quarter and Full Year 2025 Results