MVB Financial Corp. reported net income of $2.0 million, or $0.16 basic and $0.15 diluted earnings per share, for the second quarter of 2025. The company's pre-tax, pre-provision income increased by 3.5%, and the net interest margin rose by three basis points to 3.66%.
Noninterest income saw a 13.4% increase from the prior quarter, while loan growth accelerated by 4.4% and deposits grew by 8.5%, despite typical seasonal headwinds. MVB repurchased 314,580 shares for $6.4 million at an average cost of $20.28 per share, continuing its $10 million stock repurchase program.
The reported earnings were significantly impacted by a $2.0 million provision for credit losses, which was primarily attributed to loan growth that occurred late in the quarter. This meant the provisioning expense was recognized without the immediate benefit of corresponding interest income.
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