MVB Financial Corp (NASDAQ: MVBF) is a bank holding company that operates through MVB Bank, offering commercial and retail banking services alongside a dedicated Fintech banking division. It makes money primarily on net interest income earned from loans and deposits, with loan categories spanning commercial and non-residential real estate (73% of total loans as of December 31, 2025), residential real estate (26% of total loans as of December 31, 2025), and consumer loans. The Bank operates two distinct business lines: CoRe Banking, which serves individual and business customers with deposit accounts, loans, and related products, and Fintech Banking, which provides banking services to corporate clients in payments, banking-as-a-service, and gaming industries across the United States. Gaming deposits represented $184.3 million on-balance sheet and $104.0 million off-balance sheet as of December 31, 2025, with the three largest gaming clients accounting for $137.0 million of those deposits. The Bank is a member of the Federal Home Loan Bank of Pittsburgh and funds itself through certificates of deposit, IRAs, repurchase agreements, subordinated debt, and noninterest-bearing demand deposits.

Revenue model

Net interest income from loans and deposits is the primary revenue driver. The Bank originates commercial, residential real estate, and consumer loans, and sells fixed-rate residential mortgage loans into the secondary market. It also earns fee income from deposit accounts, safe deposit rentals, and cashier's checks. The Fintech Banking division generates deposits and fee-based relationships from payments, banking-as-a-service, and gaming clients. In FY2025, MVB recorded a $34.2 million pre-tax gain from the sale of substantially all assets of its Victor subsidiary to Jack Henry & Associates.

Products and services

Demand deposit accounts, savings accounts, money market accounts, certificates of deposit, IRAs, commercial loans, consumer loans, residential real estate mortgage loans, home equity lines of credit, construction mortgages, debit cards, cashier's checks, safe deposit rental facilities, and Fintech banking services for payments, banking-as-a-service, and gaming industry clients. The Bank also purchases residential real estate loans from ICM and Warp Speed, subsidiaries focused on residential and commercial loan origination.

Customers and end markets

Retail and commercial banking customers in the Bank's geographic markets, and corporate Fintech clients nationally in the payments, banking-as-a-service, and gaming industries. Gaming clients represent a material deposit concentration, with the three largest gaming clients contributing $137.0 million of gaming deposits as of December 31, 2025. Large uninsured deposits from Fintech and gaming clients carry elevated withdrawal risk under adverse conditions.

Value-chain role

Community and Fintech bank operating as a balance-sheet lender and deposit gatherer. Originates loans directly and through third-party mortgage companies ICM and Warp Speed. Sells fixed-rate residential mortgages into the secondary market. Provides operational risk management and compliance infrastructure for corporate Fintech clients.

Geographic exposure

CoRe Banking operates in regional markets; Fintech Banking serves corporate clients throughout the United States. The Bank is a member of the Federal Home Loan Bank of Pittsburgh, indicating primary operations in the Mid-Atlantic or Appalachian region.

Competitors

Traditional financial institutions, Fintech-focused banks, Neobanks, National and local mortgage banking operations, Jack Henry & Associates

Source: SEC 10-K, filed 2026-03-12

Industry: State Commercial Banks Peers: Carter Bankshares Inc HomeTrust Bancshares Inc John Marshall Bancorp Inc Peoples Financial Services Corp PNC Financial Services Group Inc Red River Bancshares Inc Shore Bancshares Inc SUMMIT FINANCIAL GROUP, INC. West Bancorporation Inc