MVB Bank, Inc in Fairmont, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

MVB Bank, Inc - Overview

  • General
  • FDIC Certificate #: 34603
    Status: Active
    Federal Reserve ID: 2757205
    Bank Holding Company (Regulatory Top Holder): Mvb Financial Corp. (RSSDID: 3211601, Location: Fairmont, WV)
    Date Established: January 04, 1999
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    FDIC's unique #: 60768
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 04, 1999
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 301 Virginia Avenue, Fairmont, WV 26554
    County: Marion
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Scott Depot
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Combined Statistical Area (CSA): Fairmont-Clarksburg, WV (#242)
    Core Based Statistical Area (CBSA): Fairmont, WV (#21900)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $533.1 mil
    Equity capital: $51.4 mil
    Deposits held in domestic offices: $390.7 mil
    Return on assets (ROA): 0.61% ($3.3 mil)
    Quarterly return on assets: 0.60% ($3.2 mil)
    Return on Equity (ROE): 6.51% ($3.3 mil)
    Quarterly return on equity: 6.09% ($3.1 mil)
    Net income: $2.9 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 0.85% ($4,531.4 mil)
    Quarterly Pretax return on assets: 0.80% ($4,264.8 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 124Total employees (full-time equivalent)
  • $533,105Total assets
  • $19,959Cash and due from depository institutions
  • $10,196Interest-bearing balances
  • $112,810Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $377,924Net loans & leases
  • $3,045Loan loss allowance
  • $0Trading account assets
  • $7,780Bank premises and fixed assets
  • $176Other real estate owned
  • $917Goodwill and other intangibles
  • $533,105Life insurance assets
  • $13,539All other assets
  • $481,684Total liabilities and capital
  • $390,713Total liabilities
  • $351,913Total deposits
  • $390,713Interest-bearing deposits
  • $75Deposits held in domestic offices
  • 77835.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $9,767Trading liabilities
  • $0Other borrowed funds
  • $3,369Subordinated debt
  • $51,421All other liabilities
  • $51,421Total equity capital
  • $51,421Total bank equity capital
  • $0Perpetual preferred stock
  • $2,589Common stock
  • $38,810Surplus
  • $10,022Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $7,147Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,790Income earned, not collected on loans
  • $0Earning assets
  • $1,582Long-term assets (5+ years)
  • $500,930Average Assets, year-to-date
  • $274,990Average Assets, quarterly
  • $473,964Volatile liabilities
  • $526,559Insider loans
  • $342,760FHLB advances
  • $533,729Loans and leases held for sale
  • $8,075Unused loan commitments
  • $3,587Tier 1 (core) risk-based capital
  • $51,246Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $4,488Total unused commitments
  • $47,050Restructured Loans and leases
  • $18,161Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $19,051Total interest income
  • $4,820Total interest expense
  • $14,231Net interest income
  • $1,723Provision for loan and lease losses
  • $2,811Total noninterest income
  • $0Fiduciary activities
  • $660Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,151Additional noninterest income
  • $12,142Total noninterest expense
  • $6,599Salaries and employee benefits
  • $1,291Premises and equipment expense
  • $4,252Additional noninterest expense
  • $3,177Pre-tax net operating income
  • $833Securities gains (losses)
  • $1,124Applicable income taxes
  • $2,886Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,886Net income attributable to bank
  • $0Net charge-offs
  • $2,886Cash dividends
  • $1,156Sale, conversion, retirement of capital stock, net
  • $473Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.30%Yield on earning assets
  • 1.09%Cost of funding earning assets
  • 3.21%Net interest margin
  • 0.63%Noninterest income to earning assets
  • 2.74%Noninterest expense to earning assets
  • 0.48%Net operating income to assets
  • 0.61%Return on assets (ROA)
  • 0.85%Pretax return on assets
  • 6.51%Return on equity (ROE)
  • 5.44%Retained earnings to average equity (YTD only)
  • 0.34%Net charge-offs to loans
  • 149.05%Credit loss provision to net charge-offs
  • 4.24%Efficiency ratio
  • 71,183Assets per employee
  • 4.30%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 16.39%Loss allowance to loans
  • 0.80%Loss allowance to noncurrent loans
  • 109.14%Noncurrent assets plus other real estate owned to assets
  • 0.56%Noncurrent loans to loans
  • 0.73%Net loans and leases to deposits
  • 96.73%Net loans and leases to core deposits
  • 113.70%Equity capital to assets
  • 9.65%Core capital (leverage) ratio
  • 9.60%Tier 1 risk-based capital ratio
  • 14.95%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $473,964Average earning assets
  • $44,365Average equity
  • $442,918Average loans

List of branches

  • 6 West Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    060768Mvb Bank, Inc301 Virginia Avenue, Fairmont, WV 26554January 04, 1999Full Service Brick and Mortar
    1360857Middletown Mall Branch2500 Fairmont Avenue, Room 510, Fairmont, WV 26554May 08, 2000Full Service Retail
    2444151Bridgeport Office1000 Johnson Avenue, Bridgeport, WV 26330August 29, 2005Full Service Brick and Mortar
    3422528Somerset Branch88 Somerset Boulevard, Charles Town, WV 25414July 29, 2002Full Service Brick and Mortar
    4465515Foxcroft Branch651 Foxcroft Avenue, Martinsburg, WV 25401July 03, 2007Full Service Brick and Mortar
    5521332Monongalia Branch2400 Cranberry Sq, Morgantown, WV 26508May 01, 2011Limited Service Administrative

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