MVB Financial Corp. reported net income of $3.6 million, or $0.28 basic and $0.27 diluted earnings per share, for the first quarter of 2025. The company achieved a 20 basis point increase in its net interest margin, reaching 3.63% from the prior quarter.
Net interest income grew by 7.1% from the previous quarter, while noninterest expense saw a significant decline of 14.6%. Noninterest bearing deposits constituted 40.0% of total deposits, and tangible book value per share increased by 2.1% to $23.85.
Asset quality indicators improved, with nonperforming loans decreasing to $20.3 million, representing 1.0% of total loans. The quarter also included a $0.6 million gain from the divestiture of Trabian Technology, Inc., reflecting successful portfolio management.
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