MVB Financial Corp. Announces Second Quarter 2026 Results

MVB Financial Corp. Announces Second Quarter 2026 Results Company to Host a Conference Call and Webcast at 5:00 PM ET 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 second quarter of 2026. The Fintech-enabled bank powering payments, banking-as-a-service and gaming programs for leading Fintech companies nationwide, reported net income of $12.3 million, or $0.95 basic and $0.93 diluted earnings per share, for the second quarter of 2026. Second Quarter 2026 Highlights (Compared to First Quarter 2026) Net income of $12.3 million, up significantly compared to both Q1 2026 and Q2 2025. Loan balances up 3.0%, or 12.1% annualized, marking the fifth consecutive quarter of loan growth. Balance sheet deposits up 7.4%, or 29.5% annualized, including 5.7% growth in noninterest-bearing deposits driven by payments-related deposits. Exclusive of the previously disclosed $10.0 million pre-tax gain related to an existing Fintech investment recognized in the second quarter, noninterest income up 6.7%, led by 18.1% growth in payment card and service charge income. Net interest margin on a fully tax-equivalent (“FTE”) basis, a non-U.S. GAAP financial measure1, expanded 43 basis points; Core FTE net interest margin, a non-U.S. GAAP financial measure1, up 14 basis points to 3.87%. From Larry F. Mazza, President and Chief Executive Officer, MVB Financial: “The strong second quarter results reflected continued progress and momentum across both our core banking franchise and our Fintech banking platform. Loan and deposit growth remained solid, net interest income improved and we saw encouraging momentum across our payments business, contributing to both fee income growth and deposit generation during the quarter. These results demonstrate our diversified business model’s strength and our team’s disciplined execution of our strategy. “We also successfully resolved our largest nonperforming loan during the quarter through full repayment, improving our credit profile, while benefiting from an improvement in second quarter net interest income. Additionally, the underlying trends across our core banking franchise remained positive as we continued to grow loans, expand our deposit base, strengthen our funding and margin profile and build our Fintech partnership pipeline. “As previously disclosed, we also recognized a gain during the quarter related to an existing Fintech investment. Together with the successful monetization of our internally incubated Victor platform last year, these transactions demonstrate our ability to both incubate and invest in innovative Fintech businesses. These activities continue to generate shareholder value, while enabling ongoing investment across the business, balance sheet optimization and the long-term growth of the Company’s earnings power.” SECOND QUARTER 2026 HIGHLIGHTS Net Interest Income, Net Interest Margin and Balance Sheet TrendsFTE net interest income, a non-U.S. GAAP financial measure 1, totaled $32.4 million, up $3.8 million, or 13.4%, from prior quarter, primarily reflecting continued loan growth, a lower overall cost of funds and interest income associated with the successful resolution of the Company’s largest nonperforming loan. Excluding the interest income associated with the loan payoff, FTE net interest income was up 5.4% from the prior quarter.FTE net interest margin, a non-U.S. GAAP financial measure 1, increased to 4.16%, up from 3.73% in the prior quarter. The increase primarily reflected continued improvement in the Company’s funding profile, including growth in noninterest-bearing deposits and the full quarter benefit of previously disclosed balance sheet optimization initiatives completed during the first quarter of 2026, loan growth and interest income associated with the resolution of the Company’s largest nonperforming loan. Excluding the aforementioned loan payoff, the core FTE net interest margin, a non-U.S. GAAP financial measure 1, was approximately 3.87%, representing 14 basis points of expansion.Total loan balances up $72.7 million, or 3.0%, from the prior quarter to $2.48 billion, reflecting improved market conditions, and representing the fifth consecutive quarter of loan growth.Total deposits were $3.11 billion as of June 30, 2026, an increase of $214.0 million, or 7.4%, from the prior quarter-end, including a $58.1 million increase in noninterest-bearing deposits. Growth in payments-related deposits contributed to quarter-end balances, helping diversify the Company’s funding base during what has historically been a seasonally softer quarter for deposit growth particularly in gaming and certain banking-as-a-service relationships.Noninterest-bearing deposits represented 34.4% of total deposits as of June 30, 2026, compared to 34.9% as of the prior quarter-end. The loan-to-deposit ratio was 79.6% as compared to 83.0% at the prior quarter-end.Noninterest Income and ExpenseTotal noninterest income was $18.8 million, compared to $8.2 million in the prior quarter. The increase primarily reflected the previously disclosed $10.0 million pre-tax gain related to an existing Fintech investment. Excluding this gain, core fee income was up 6.7% from the prior quarter, led by continued growth in payment card and service charge income.The Company continued to execute its Fintech banking platform strategy during the quarter through new client onboarding and continued progress across its payment business, contributing to growth in both payments-related deposits and payment card revenue.Total noninterest expense was $30.4 million, compared to $28.1 million in the prior quarter, an increase of 8.2%. The increase included approximately $0.6 million in nonrecurring expenses, annual merit increases, higher incentive compensation accruals and continued investment in strategic growth initiatives, including the build out of the Company’s specialty lending platform and ongoing technology and artificial intelligence initiatives.Asset Quality and CapitalNonperforming loans totaled $29.2 million, or 1.2% of total loans, as of June 30, 2026, compared to $34.7 million, or 1.4% of total loans, as of the prior quarter-end. The decline was driven by the successful resolution of the Company’s largest nonperforming loan during the quarter, partially offset by new nonperforming loans, which did not reflect any notable industry or geographic concentration.Criticized loans as a percentage of total loans were 3.1% as of June 30, 2026, compared to 3.7% as of March 31, 2026. Classified loans as a percentage of total loans were 1.9%, compared to 2.2% as of the prior quarter end.Net charge-offs were $1.4 million, or 0.23% annualized of average loans, for the second quarter, compared to $1.5 million, or 0.26% annualized, for the prior quarter.Provision for credit losses totaled $4.7 million, compared to $1.9 million for the prior quarter. The increase in provision for credit losses reflected continued growth of the loan portfolio, specific reserves associated with a small number of isolated credits, as well as updates to the allowance methodology based on current economic conditions and qualitative factors. The allowance for credit losses for loans increased to 1.14% of total loans at June 30, 2026, compared to 0.94% at the prior quarter-end.The Community Bank Leverage Ratio, Tier 1 Risk-Based Capital Ratio and MVB Bank’s Total Risk-Based Capital Ratio were 10.3%, 12.2% and 13.2%, respectively, at June 30, 2026, compared to 10.1%, 12.6% and 13.5%, respectively, at the prior quarter-end.The tangible common equity ratio, a non-U.S. GAAP financial measure 1, was 9.7% as of June 30, 2026, compared to 10.0% as of March 31, 2026 and 9.3% as of June 30, 2025.During the quarter, the Company repurchased 48,432 shares of common stock for approximately $1.2 million at an average price of $25.56 per share under its previously authorized share repurchase program.Book value per common share and tangible book value per common share, a non-U.S. GAAP financial measure 1, were $26.61 and $26.52, respectively, at June 30, 2026, compared to $26.07 and $25.98, respectively, at the prior quarter-end. 1 See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure later in the release. Conference Call and Webcast The Company will host a conference call and webcast at 5:00 p.m. Eastern Time today, July 28, 2026, to discuss its quarterly financial results. The call can be accessed via telephone at 877-451-6152 (domestic) or 201-389-0879 (international). A recorded replay can be accessed through August 11, 2026, by dialing 844-512-2921 (domestic) or 412-317-6671 (international); access code: 13760259. Additionally, interested parties can listen to a live webcast of the call on the Company's website at ir.mvbbanking.com. An archived version of the webcast will be available in the same location shortly after the live call has ended. About MVB Financial Corp. MVB Financial Corp. (Nasdaq: MVBF) is an innovative bank powering Fintech solutions in payments, card issuance and online gaming programs for leading Fintech companies nationwide, while providing traditional retail and commercial banking services within established markets. MVB’s comprehensive platform includes money movement solutions across all modalities and embedded finance capabilities. MVB combines proven Fintech builder/incubator capabilities, innovative culture, regulatory expertise, core banking and AI-driven operational efficiency to enable Fintech partners to navigate complex regulatory requirements while accelerating time-to-market. 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; industry factors and volatility and disruption in local, national and international political and economic conditions, such as economic slowdowns or recessions, nationally and in the markets in which we operate and other developments such as wars, natural disasters, epidemics or pandemics, military actions, terrorists attacks or geopolitical conflict, and any governmental or societal 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, 2025, 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-U.S. 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-U.S. GAAP financial 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-U.S. GAAP financial measures that exclude the impact of specified items provides useful supplemental information that is essential to a proper understanding of the Company’s financial condition and results. Non-U.S. financial 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-U.S. 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-U.S. GAAP financial measures. See the tables below for a reconciliation of these non-U.S. GAAP financial 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) Quarterly Year-to-Date 2026 2026 2025 2026 2025 Second Quarter First Quarter Second Quarter Interest income $ 48,583 $ 44,774 $ 42,384 $ 93,357 $ 85,613 Interest expense 16,309 16,322 16,604 32,631 33,157 Net interest income 32,274 28,452 25,780 60,726 52,456 Provision for credit losses 4,677 1,854 1,990 6,531 2,167 Net interest income after provision for credit losses 27,597 26,598 23,790 54,195 50,289 Total noninterest income 18,796 8,209 7,945 27,005 14,953 Noninterest expense: Salaries and employee benefits 17,641 16,152 15,801 33,793 32,213 Other expense 12,769 11,960 12,768 24,729 25,057 Total noninterest expenses 30,410 28,112 28,569 58,522 57,270 Income before income taxes 15,983 6,695 3,166 22,678 7,972 Income taxes 3,732 1,511 1,164 5,243 2,411 Net income, before noncontrolling interest 12,251 5,184 2,002 17,435 5,561 Net loss attributable to noncontrolling interest — — — — 18 Net income available to common shareholders $ 12,251 $ 5,184 $ 2,002 $ 17,435 $ 5,579 Earnings per share - basic $ 0.95 $ 0.41 $ 0.16 $ 1.36 $ 0.43 Earnings per share - diluted $ 0.93 $ 0.39 $ 0.15 $ 1.32 $ 0.42 Noninterest Income (Unaudited) (Dollars in thousands) Quarterly Year-to-Date 2026 2026 2025 2026 2025 Second Quarter First Quarter Second Quarter Payment card and service charge income $ 6,008 $ 5,086 $ 4,653 $ 11,094 $ 9,638 Investment portfolio gains (losses) 11,269 669 (166 ) 11,938 (474 ) Equity method investments income 1,834 1,966 2,315 3,800 2,960 Gain on divestiture activity — — — — 608 Loss on derivatives (677 ) — — (677 ) — Other noninterest income 362 488 1,143 850 2,221 Total noninterest income $ 18,796 $ 8,209 $ 7,945 $ 27,005 $ 14,953 Condensed Consolidated Balance Sheets (Unaudited) (Dollars in thousands) June 30, 2026 March 31, 2026 June 30, 2025 Cash and cash equivalents $ 312,596 $ 177,635 $ 399,379 Investment securities available-for-sale 429,578 421,729 396,555 Equity securities 62,503 51,459 43,923 Loans receivable 2,476,393 2,403,739 2,153,309 Less: Allowance for credit losses (28,217 ) (22,605 ) (20,785 ) Loans receivable, net 2,448,176 2,381,134 2,132,524 Premises and equipment, net 9,935 10,071 10,877 Other assets 283,065 280,270 240,750 Total assets $ 3,545,853 $ 3,322,298 $ 3,224,008 Noninterest-bearing deposits $ 1,069,207 $ 1,011,098 $ 1,050,104 Interest-bearing deposits 2,042,169 1,886,246 1,754,319 Subordinated debt 34,072 34,046 73,912 Revolving line of credit 20,000 20,000 — Other liabilities 35,862 35,988 43,358 Total liabilities 3,201,310 2,987,378 2,921,693 Common stock 14,323 14,174 13,877 Additional paid-in capital 172,940 172,397 166,078 Retained earnings 203,497 193,413 173,350 Accumulated other comprehensive loss (18,039 ) (18,061 ) (27,869 ) Treasury stock (28,178 ) (27,003 ) (23,121 ) Total stockholders’ equity 344,543 334,920 302,315 Total liabilities and stockholders’ equity $ 3,545,853 $ 3,322,298 $ 3,224,008 Average Balances and Interest Rates (Unaudited) (Dollars in thousands) Three Months Ended Three Months Ended Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025 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 $ 252,962 $ 2,289 3.63 % $ 340,906 $ 3,031 3.61 % $ 332,265 $ 3,592 4.34 % Investment securities: Taxable 371,891 4,790 5.17 361,901 4,409 4.94 305,600 2,828 3.71 Tax-exempt1 55,637 538 3.88 56,737 557 3.98 96,135 819 3.42 Loans:2 Commercial 1,801,797 33,481 7.45 1,774,717 30,232 6.91 1,488,610 28,371 7.64 Tax-exempt1 2,327 27 4.65 2,286 25 4.44 2,719 29 4.28 Real estate 490,000 5,061 4.14 487,773 4,883 4.06 538,595 5,826 4.34 Consumer 150,595 2,516 6.70 84,249 1,758 8.46 61,022 1,096 7.20 Total loans 2,444,719 41,085 6.74 2,349,025 36,898 6.37 2,090,946 35,322 6.78 Total earning assets 3,125,209 48,702 6.25 3,108,569 44,895 5.86 2,824,946 42,561 6.04 Less: Allowance for credit losses (22,877 ) (21,829 ) (19,459 ) Cash and due from banks 9,742 9,947 8,215 Other assets 344,238 336,744 300,378 Total assets $ 3,456,312 $ 3,433,431 $ 3,114,080 Liabilities Deposits: NOW $ 798,433 $ 6,388 3.21 % $ 709,743 $ 5,217 2.98 % $ 658,490 $ 4,966 3.02 % Money market checking 582,385 3,641 2.51 542,170 3,072 2.30 358,968 2,284 2.55 Savings 149,211 1,062 2.85 149,883 1,197 3.24 117,123 920 3.15 IRAs 6,580 51 3.11 7,137 60 3.41 7,414 68 3.68 CDs 447,766 4,483 4.02 550,973 5,764 4.24 657,367 7,545 4.60 Total interest-bearing deposits 1,984,375 15,625 3.16 1,959,906 15,310 3.17 1,799,362 15,783 3.52 Repurchase agreements and federal funds sold 4,549 23 2.03 4,186 21 2.03 4,081 24 2.36 FHLB and other borrowings 1,321 9 2.73 56 1 7.24 8 — — Subordinated debt 34,063 314 3.70 60,707 858 5.73 73,890 797 4.33 Revolving line of credit 20,000 338 6.78 7,556 132 7.08 — — — Total interest-bearing liabilities 2,044,308 16,309 3.20 2,032,411 16,322 3.26 1,877,341 16,604 3.55 Noninterest-bearing demand deposits 1,030,279 1,011,690 886,657 Other liabilities 37,872 50,811 44,021 Total liabilities 3,112,459 3,094,912 2,808,019 Stockholders’ equity Common stock 14,221 14,117 13,825 Paid-in capital 172,231 171,040 165,611 Treasury stock (27,596 ) (27,003 ) (18,029 ) Retained earnings 202,957 193,468 173,394 Accumulated other comprehensive loss (17,960 ) (13,103 ) (28,740 ) Total stockholders’ equity 343,853 338,519 306,061 Total liabilities and stockholders’ equity $ 3,456,312 $ 3,433,431 $ 3,114,080 Net interest income and margin (tax-equivalent)1 $ 32,393 4.16 % $ 28,573 3.73 % $ 25,957 3.69 % Less: Tax-equivalent adjustments (119 ) (121 ) (177 ) Net interest income and margin $ 32,274 4.14 % $ 28,452 3.71 % $ 25,780 3.66 % 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-U.S. GAAP financial measure. See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 13. 2 Non-accrual loans are included in total loan balances, lowering the effective yield for the portfolio in the aggregate. Six Months Ended Six Months Ended June 30, 2026 June 30, 2025 Average Balance Interest Income/ Expense Yield/ Cost Average Balance Interest Income/ Expense Yield/ Cost Assets Interest-bearing balances with banks $ 296,691 $ 5,320 3.62 % $ 388,574 $ 8,326 4.32 % Investment securities: Taxable 366,924 9,199 5.06 316,577 5,586 3.56 Tax-exempt1 56,184 1,095 3.93 99,050 1,676 3.41 Loans:2 Commercial 1,780,876 63,713 7.21 1,490,414 56,391 7.63 Tax-exempt1 2,306 53 4.63 2,772 59 4.29 Real estate 488,893 9,944 4.10 542,330 11,688 4.35 Consumer 125,060 4,274 6.89 61,984 2,251 7.32 Total loans 2,397,135 77,984 6.56 2,097,500 70,389 6.77 Total earning assets 3,116,934 93,598 6.06 2,901,701 85,977 5.98 Less: Allowance for loan losses (22,356 ) (19,544 ) Cash and due from banks 9,844 7,601 Other assets 340,511 314,450 Total assets $ 3,444,933 $ 3,204,208 Liabilities Deposits: NOW $ 785,269 $ 11,605 2.98 % $ 589,361 $ 8,100 2.77 % Money market checking 562,389 6,713 2.41 347,420 4,377 2.54 Savings 149,545 2,259 3.05 103,599 1,502 2.92 IRAs 6,857 111 3.26 7,567 149 3.97 CDs 499,084 10,247 4.14 735,639 17,338 4.75 Total interest-bearing deposits 2,003,144 30,935 3.11 1,783,586 31,466 3.56 Repurchase agreements and federal funds sold 4,369 45 2.08 3,627 39 2.17 FHLB and other borrowings 692 9 2.62 2,547 58 4.59 Senior term loan 13,812 470 6.86 — — — Subordinated debt 47,311 1,172 5.00 73,859 1,594 4.35 Total interest-bearing liabilities 2,069,328 32,631 3.18 1,863,619 33,157 3.59 Noninterest-bearing demand deposits 990,099 989,138 Other liabilities 44,306 46,339 Total liabilities 3,103,733 2,899,096 Stockholders’ equity Common stock 14,169 13,811 Paid-in capital 171,639 165,291 Treasury stock (27,301 ) (17,389 ) Retained earnings 198,238 171,890 Accumulated other comprehensive loss (15,545 ) (28,509 ) Total stockholders’ equity attributable to parent 341,200 305,094 Noncontrolling interest — 18 Total stockholders’ equity 341,200 305,112 Total liabilities and stockholders’ equity $ 3,444,933 $ 3,204,208 Net interest income and margin (tax-equivalent)1 $ 60,967 3.94 % $ 52,820 3.67 % Less: Tax-equivalent adjustments (241 ) (364 ) Net interest income and margin $ 60,726 3.93 % $ 52,456 3.65 % 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-U.S. GAAP financial measure. See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 13. 2 Non-accrual loans are included in total loan balances, lowering the effective yield for the portfolio in the aggregate. Selected Financial Data (Unaudited) (Dollars in thousands, except share and per share data) Quarterly Year-to-Date 2026 2026 2025 2026 2025 Second Quarter First Quarter Second Quarter Earnings and Per Share Data: Net income $ 12,251 $ 5,184 $ 2,002 $ 17,435 $ 5,579 Earnings per share - basic $ 0.95 $ 0.41 $ 0.16 $ 1.36 $ 0.43 Earnings per share - diluted $ 0.93 $ 0.39 $ 0.15 $ 1.32 $ 0.42 Cash dividends paid per common share $ 0.17 $ 0.17 $ 0.17 $ 0.34 $ 0.34 Book value per common share $ 26.61 $ 26.07 $ 23.78 $ 26.61 $ 23.78 Tangible book value per common share1 $ 26.52 $ 25.98 $ 23.68 $ 26.52 $ 23.68 Weighted-average shares outstanding - basic 12,869,947 12,795,271 12,912,113 12,832,815 12,930,046 Weighted-average shares outstanding - diluted 13,186,672 13,191,405 13,121,436 13,188,996 13,151,616 Performance Ratios: Return on average assets2 1.4 % 0.6 % 0.3 % 1.0 % 0.3 % Return on average equity2 14.3 % 6.1 % 2.6 % 10.2 % 3.7 % Net interest margin3 4 4.16 % 3.73 % 3.69 % 3.94 % 3.67 % Efficiency ratio5 59.5 % 76.7 % 84.7 % 66.7 % 85.0 % Overhead ratio2 6 3.5 % 3.3 % 3.7 % 3.4 % 3.6 % Equity to assets 9.7 % 10.1 % 9.4 % 9.7 % 9.4 % Asset Quality Data and Ratios: Charge-offs $ 1,773 $ 1,890 $ 628 $ 3,663 $ 2,015 Recoveries $ 391 $ 392 $ 445 $ 783 $ 975 Net loan charge-offs to total loans2, 7 0.23 % 0.26 % 0.04 % 0.24 % 0.10 % Allowance for credit losses $ 28,217 $ 22,605 $ 20,785 $ 28,217 $ 20,785 Allowance for credit losses to total loans 1.14 % 0.94 % 0.97 % 1.14 % 0.97 % Nonperforming loans $ 29,233 $ 34,740 $ 21,055 $ 29,233 $ 21,055 Nonperforming loans to total loans 1.2 % 1.4 % 1.0 % 1.2 % 1.0 % Mortgage Company Equity Method Investees Production Data8: Mortgage pipeline $ 1,236,366 $ 1,126,262 $ 1,128,738 $ 1,236,366 $ 1,128,738 Loans originated $ 1,491,404 $ 1,406,921 $ 1,352,603 $ 2,898,326 $ 2,663,305 Loans closed $ 927,934 $ 936,789 $ 882,361 $ 1,864,724 $ 1,770,383 Loans sold $ 820,716 $ 747,829 $ 699,036 $ 1,568,546 $ 1,343,718 1 Common equity, less total goodwill and intangibles per common share, a non-U.S. GAAP financial measure. See the reconciliation of this non-U.S. GAAP financial measure to its most directly comparable GAAP financial measure included in the tables on page 13. 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-U.S. GAAP financial measure. 5 Noninterest expense as a percentage of net interest income and noninterest income. 6 Noninterest expense as a percentage of average assets. 7 Ratio of charge-offs, less recoveries to total loans. 8 Information 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-U.S. 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 and net interest margin on a fully tax-equivalent basis: Three Months Ended Six Months Ended (Dollars in thousands) June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net interest margin - U.S. GAAP basis Net interest income $ 32,274 $ 28,452 $ 25,780 $ 60,726 $ 52,456 Average interest-earning assets $ 3,125,209 $ 3,108,569 $ 2,824,946 $ 3,116,934 $ 2,901,701 Net interest margin 4.14 % 3.71 % 3.66 % 3.93 % 3.65 % Net interest margin - non-U.S. GAAP basis Net interest income $ 32,274 $ 28,452 $ 25,780 $ 60,726 $ 52,456 Impact of fully tax-equivalent adjustment 119 121 177 241 364 Net interest income on a fully tax-equivalent basis $ 32,393 $ 28,573 $ 25,957 $ 60,967 $ 52,820 Average interest-earning assets $ 3,125,209 $ 3,108,569 $ 2,824,946 $ 3,116,934 $ 2,901,701 Net interest margin on a fully tax-equivalent basis 4.16 % 3.73 % 3.69 % 3.94 % 3.67 % Core net interest margin - non-U.S. GAAP basis Net interest income on a fully tax-equivalent basis $ 32,393 $ 28,573 $ 25,957 $ 60,967 $ 52,820 Less: interest income from non-recurring items (2,272 ) — — (2,272 ) — Core net interest income on a fully tax-equivalent basis $ 30,121 $ 28,573 $ 25,957 $ 58,695 $ 52,820 Average interest-earning assets $ 3,125,209 $ 3,108,569 $ 2,824,946 $ 3,116,934 $ 2,901,701 Adjusted net interest margin on a fully tax-equivalent basis 3.87 % 3.73 % 3.69 % 3.80 % 3.67 % Non-U.S. GAAP Reconciliation: Tangible Book Value per Common Share and Tangible Common Equity Ratio (Unaudited) (Dollars in thousands, except per share data) June 30, 2026 March 31, 2026 June 30, 2025 Tangible Book Value per Common Share Goodwill $ 1,200 $ 1,200 $ 1,200 Total intangibles $ 1,200 1,200 1,200 Total equity attributable to parent $ 344,543 334,920 302,315 Less: Total intangibles (1,200 ) (1,200 ) (1,200 ) Tangible common equity $ 343,343 $ 333,720 $ 301,115 Tangible common equity $ 343,343 $ 333,720 $ 301,115 Common shares outstanding (000s) 12,947 12,847 12,715 Tangible book value per common share $ 26.52 $ 25.98 $ 23.68 Tangible Common Equity Ratio Total assets $ 3,545,853 $ 3,322,298 $ 3,224,008 Less: Total intangibles (1,200 ) (1,200 ) (1,200 ) Tangible assets $ 3,544,653 $ 3,321,098 $ 3,222,808 Tangible assets $ 3,544,653 $ 3,321,098 $ 3,222,808 Tangible common equity $ 343,343 $ 333,720 $ 301,115 Tangible common equity ratio 9.7 % 10.0 % 9.3 % Source: MVB Financial Corp.