MVB Financial Corp., the holding company for MVB Bank, Inc., reported net income of $12.3 million, or $0.95 basic and $0.93 diluted earnings per share, for the second quarter of 2026, representing a significant increase compared to both Q1 2026 and Q2 2025. The Fintech-enabled bank, which powers payments, banking-as-a-service, and gaming programs for leading Fintech companies nationwide, delivered broad-based improvement across lending, deposits, net interest income, and fee revenue during the quarter.

Second Quarter 2026 Financial Highlights

The following table summarizes key income statement metrics for the second quarter of 2026 compared to the first quarter of 2026 and the second quarter of 2025 (dollars in thousands, except per share data):

Net Interest Income and Margin

FTE net interest income totaled $32.4 million in the second quarter, up $3.8 million, or 13.4%, from the prior quarter. This improvement primarily reflected 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.

The FTE net interest margin increased to 4.16%, up from 3.73% in the prior quarter — an expansion of 43 basis points. Excluding the aforementioned loan payoff, the core FTE net interest margin was approximately 3.87%, representing 14 basis points of expansion from Q1 2026.

Loan and Deposit Growth

Total loan balances increased $72.7 million, or 3.0% (12.1% annualized), from the prior quarter to $2.48 billion, marking 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% (29.5% annualized), from the prior quarter-end, including a $58.1 million increase in noninterest-bearing deposits driven by payments-related activity.

Key balance sheet metrics as of June 30, 2026 are presented below:

Noninterest Income and Expense

Total noninterest income was $18.8 million in the second quarter, 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 18.1% growth in payment card and service charge income. Payment card and service charge income totaled $6,008 thousand in Q2 2026, compared to $5,086 thousand in Q1 2026.

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 Capital

Asset quality improved during the quarter, driven by the full repayment of the company's largest nonperforming loan. Key asset quality and capital metrics are summarized below:

Provision for credit losses totaled $4.7 million in the second quarter, compared to $1.9 million in the prior quarter. The increase reflected continued loan portfolio growth, specific reserves associated with a small number of isolated credits, and updates to the allowance methodology based on current economic conditions and qualitative factors.

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 were $26.61 and $26.52, respectively, at June 30, 2026, compared to $26.07 and $25.98, respectively, at the prior quarter-end.

Management Commentary

Larry F. Mazza, President and Chief Executive Officer of MVB Financial, stated: "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."

Mazza added that the company also successfully resolved its largest nonperforming loan during the quarter through full repayment, improving its credit profile, while benefiting from an improvement in second quarter net interest income. He further noted that the previously disclosed gain related to an existing Fintech investment, together with the successful monetization of the internally incubated Victor platform in the prior year, demonstrates the company's ability to both incubate and invest in innovative Fintech businesses.

Conference Call

MVB Financial hosted a conference call and webcast on July 28, 2026, at 5:00 p.m. Eastern Time to discuss its quarterly financial results. A recorded replay is accessible through August 11, 2026, by dialing 844-512-2921 (domestic) or 412-317-6671 (international); access code: 13760259. An archived webcast is also available at ir.mvbbanking.com.