2020 Q1 Form 10-Q Financial Statement

#000127790220000060 Filed on April 28, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q1
Revenue $20.70M $21.23M $19.62M
YoY Change 5.48% 8.39% 30.35%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $1.163M $988.0K
YoY Change 17.71% 18.32%
% of Gross Profit
Depreciation & Amortization $908.0K $1.000M $759.0K
YoY Change 19.63% 42.86% 2.43%
% of Gross Profit
Operating Expenses $1.163M $988.0K
YoY Change 17.71% -95.25%
Operating Profit
YoY Change
Interest Expense $4.528M $5.651M
YoY Change -19.87% 57.45%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.227M $5.410M $3.989M
YoY Change -69.24% 37.31% 21.21%
Income Tax $179.0K $1.310M $797.0K
% Of Pretax Income 14.59% 24.21% 19.98%
Net Earnings $1.048M $4.095M $3.192M
YoY Change -67.17% 36.55% 23.05%
Net Earnings / Revenue 5.06% 19.29% 16.27%
Basic Earnings Per Share $0.08 $0.34 $0.26
Diluted Earnings Per Share $0.08 $0.32 $0.26
COMMON SHARES
Basic Shares Outstanding 11.94M shares 11.82M shares 11.61M shares
Diluted Shares Outstanding 12.30M shares 13.18M shares

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $88.87M $28.00M $17.96M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $22.33M $21.97M $25.92M
YoY Change -13.86% -17.22% -2.1%
Goodwill $19.63M $19.63M $18.48M
YoY Change 6.22% 6.22% 0.0%
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $39.10M $46.60M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.100B $1.944B $1.790B
YoY Change 17.31% 11.03% 13.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.80M $26.90M $17.70M
YoY Change 130.51% 51.98% 13.46%
Accrued Expenses $17.20M $14.80M $15.70M
YoY Change 9.55%
Deferred Revenue
YoY Change
Short-Term Debt $9.300M $10.20M $12.60M
YoY Change -26.19% -31.54% -39.13%
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $58.00M $41.70M $33.40M
YoY Change 73.65% 135.59% 114.1%
LONG-TERM LIABILITIES
Long-Term Debt $4.300M $4.100M $17.50M
YoY Change -75.43% -76.57% -47.76%
Other Long-Term Liabilities $187.8M $188.3M
YoY Change
Total Long-Term Liabilities $192.1M $192.4M $17.50M
YoY Change 997.71% 999.43% -47.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.00M $41.70M $33.40M
Total Long-Term Liabilities $192.1M $192.4M $17.50M
Total Liabilities $1.889B $1.732B $1.609B
YoY Change 17.37% 10.04% 12.43%
SHAREHOLDERS EQUITY
Retained Earnings $72.35M $72.50M $50.94M
YoY Change 42.05% 50.18% 26.74%
Common Stock $135.0M $134.5M $129.1M
YoY Change 4.63% 4.63% 16.6%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.344M $1.084M $1.084M
YoY Change 23.99% 0.0% 0.0%
Treasury Stock Shares 67.38K shares 51.08K shares 51.08K shares
Shareholders Equity $211.2M $211.9M $180.9M
YoY Change
Total Liabilities & Shareholders Equity $2.100B $1.944B $1.790B
YoY Change 17.31% 11.03% 13.18%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q1
OPERATING ACTIVITIES
Net Income $1.048M $4.095M $3.192M
YoY Change -67.17% 36.55% 23.05%
Depreciation, Depletion And Amortization $908.0K $1.000M $759.0K
YoY Change 19.63% 42.86% 2.43%
Cash From Operating Activities -$78.62M $57.70M $12.93M
YoY Change -708.27% -987.69% -15.04%
INVESTING ACTIVITIES
Capital Expenditures $1.384M -$900.0K $115.0K
YoY Change 1103.48% 80.0% -77.27%
Acquisitions
YoY Change
Other Investing Activities $2.400M -$44.60M -$35.80M
YoY Change -106.7% 207.59% -40.43%
Cash From Investing Activities $1.065M -$45.50M -$35.88M
YoY Change -102.97% 203.33% -40.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $260.0K $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $138.4M -20.80M $18.70M
YoY Change 640.44% -195.85% -61.59%
NET CHANGE
Cash From Operating Activities -$78.62M 57.70M $12.93M
Cash From Investing Activities $1.065M -45.50M -$35.88M
Cash From Financing Activities $138.4M -20.80M $18.70M
Net Change In Cash $60.87M -8.600M -$4.263M
YoY Change -1527.91% -4400.0% -228.21%
FREE CASH FLOW
Cash From Operating Activities -$78.62M $57.70M $12.93M
Capital Expenditures $1.384M -$900.0K $115.0K
Free Cash Flow -$80.00M $58.60M $12.81M
YoY Change -724.54% -1076.67% -12.9%

Facts In Submission

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CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
934000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3071000 USD
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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12298092 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020Q1 us-gaap Net Income Loss
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1048000 USD
CY2019Q1 us-gaap Net Income Loss
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3192000 USD
CY2020Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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1414000 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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1859000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
382000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
502000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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276000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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-118000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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75000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-32000 USD
CY2020Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
706000 USD
CY2019Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
332000 USD
CY2020Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
190000 USD
CY2019Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
90000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-105000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-68000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-28000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-18000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Investment Hedge Gain Loss Before Reclassification And Tax
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-1793000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Investment Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax
-458000 USD
CY2020Q1 mvbf Other Comprehensive Income Loss Net Investment Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationTax
484000 USD
CY2019Q1 mvbf Other Comprehensive Income Loss Net Investment Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationTax
124000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-917000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
917000 USD
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
131000 USD
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4109000 USD
CY2018Q4 us-gaap Stockholders Equity
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176773000 USD
CY2019Q1 us-gaap Net Income Loss
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3192000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
917000 USD
CY2019Q1 us-gaap Dividends Common Stock Cash
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408000 USD
CY2019Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
121000 USD
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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425000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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94000 USD
CY2019Q1 us-gaap Stockholders Equity
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180872000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
211936000 USD
CY2020Q1 us-gaap Net Income Loss
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1048000 USD
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-917000 USD
CY2020Q1 us-gaap Dividends Common Stock Cash
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1076000 USD
CY2020Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
114000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
498000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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38000 USD
CY2020Q1 us-gaap Stock Repurchased During Period Value
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260000 USD
CY2020Q1 us-gaap Stockholders Equity
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211153000 USD
CY2020Q1 us-gaap Net Income Loss
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1048000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
3192000 USD
CY2020Q1 mvbf Amortization And Accretion Of Investments
AmortizationAndAccretionOfInvestments
302000 USD
CY2019Q1 mvbf Amortization And Accretion Of Investments
AmortizationAndAccretionOfInvestments
280000 USD
CY2020Q1 mvbf Amortization Of Deferred Loan Fees
AmortizationOfDeferredLoanFees
114000 USD
CY2019Q1 mvbf Amortization Of Deferred Loan Fees
AmortizationOfDeferredLoanFees
72000 USD
CY2020Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
1138000 USD
CY2019Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
300000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
908000 USD
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
759000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
498000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
425000 USD
CY2020Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
484989000 USD
CY2019Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
239160000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
419868000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
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255682000 USD
CY2020Q1 mvbf Mortgage Fee Income
MortgageFeeIncome
11219000 USD
CY2019Q1 mvbf Mortgage Fee Income
MortgageFeeIncome
6670000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
276000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
33000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
151000 USD
CY2020Q1 us-gaap Gain Loss On Sales Of Loans Net
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130000 USD
CY2019Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
55000 USD
CY2020Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
223000 USD
CY2019Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
525000 USD
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-929000 USD
CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
21000 USD
CY2020Q1 mvbf Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
8000 USD
CY2019Q1 mvbf Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
20000 USD
CY2020Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
14000 USD
CY2019Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
180000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
18839000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
16801000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
14116000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
15447000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-78619000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12925000 USD
CY2020Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
16325000 USD
CY2019Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
20400000 USD
CY2020Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
18990000 USD
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
5236000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
10318000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
13694000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1384000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
115000 USD
CY2020Q1 us-gaap Increase Decrease In Finance Receivables
IncreaseDecreaseInFinanceReceivables
16063000 USD
CY2019Q1 us-gaap Increase Decrease In Finance Receivables
IncreaseDecreaseInFinanceReceivables
36866000 USD
CY2020Q1 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
7439000 USD
CY2019Q1 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
6119000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
13414000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
8352000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
52000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
97000 USD
CY2020Q1 us-gaap Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
0 USD
CY2019Q1 us-gaap Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
-688000 USD
CY2020Q1 mvbf Payments To Acquire Equity Securities
PaymentsToAcquireEquitySecurities
498000 USD
CY2019Q1 mvbf Payments To Acquire Equity Securities
PaymentsToAcquireEquitySecurities
450000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1065000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35883000 USD
CY2020Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
332734000 USD
CY2019Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
121505000 USD
CY2020Q1 us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
-826000 USD
CY2019Q1 us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
-2372000 USD
CY2020Q1 mvbf Proceeds And Repayments Of Federal Home Loan Bank Borrowings
ProceedsAndRepaymentsOfFederalHomeLoanBankBorrowings
-192070000 USD
CY2019Q1 mvbf Proceeds And Repayments Of Federal Home Loan Bank Borrowings
ProceedsAndRepaymentsOfFederalHomeLoanBankBorrowings
-100003000 USD
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
38000 USD
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
94000 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
260000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1076000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
408000 USD
CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
114000 USD
CY2019Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
121000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
138426000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18695000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
60872000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4263000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28002000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22221000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88874000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17958000 USD
CY2020Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
23000 USD
CY2019Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
63000 USD
CY2019Q1 mvbf Operating Lease Right Of Use Asset Initial Recognition
OperatingLeaseRightOfUseAssetInitialRecognition
12935000 USD
CY2019Q1 mvbf Operating Lease Liability Initial Recognition
OperatingLeaseLiabilityInitialRecognition
15659000 USD
CY2020Q1 mvbf Noncash Stock Options Exercised
NoncashStockOptionsExercised
35000 USD
CY2019Q1 mvbf Noncash Stock Options Exercised
NoncashStockOptionsExercised
0 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
5511000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
6136000 USD
CY2020Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;">Note 1 – Summary of Significant Accounting Policies</span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;">Nature of Operations</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">MVB Financial Corp. (“the Company”) is a financial holding company and was organized in 2003. MVB operates principally through its wholly owned subsidiary, MVB Bank, Inc. (“MVB Bank” or the “Bank”). MVB Bank’s operating subsidiaries include Potomac Mortgage Group (“PMG” which began doing business under the registered trade name “MVB Mortgage”), MVB Insurance, LLC (“MVB Insurance”), MVB Community Development Corporation (“MVB CDC”), and ProCo Global, Inc. (“ProCo” which began doing business under the registered trade name Chartwell Compliance “Chartwell”).</span></div><div style="text-align:justify;"><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;">Principles of Consolidation and Basis of Presentation</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">These consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by GAAP for annual year-end financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal, recurring nature. The consolidated balance sheet as of December 31, 2019 has been derived from audited financial statements included in the Company’s 2019 filing on Form 10-K. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States and practices in the banking industry. The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates, such as the allowance for loan losses, are based upon known facts and circumstances. Estimates are revised by management in the period such facts and circumstances change. Actual results could differ from those estimates. All significant inter-company accounts and transactions have been eliminated in consolidation.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been omitted. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the company’s December 31, 2019, Form 10-K filed with the Securities and Exchange Commission (the “SEC”).</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In certain instances, amounts reported in prior periods’ consolidated financial statements have been reclassified to conform to the current presentation.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Information is presented in these notes with dollars expressed in thousands, unless otherwise noted or specified.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;">Assets and Liabilities of Branches Held for Sale</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On November 21, 2019, the Company entered into a Purchase and Assumption Agreement with Summit Community Bank, Inc., a subsidiary of Summit Financial Group, Inc. pursuant to which Summit will purchase certain assets and assume certain liabilities of three branch locations in Berkeley County, WV and one branch location in Jefferson County, WV. Pursuant to the terms of the Purchase Agreement, Summit has agreed to assume certain deposit liabilities and to acquire certain loans, as well as cash, real property, personal property, and other fixed assets associated with the branch locations. The Company closed this transaction on April 24, 2020.</span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Assets to be acquired and liabilities to be assumed are summarized as follows:</span></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:99.856%;"><tr><td style="width:1.0%;"/><td style="width:48.791%;"/><td style="width:1.0%;"/><td style="width:0.1%;"/><td style="width:0.375%;"/><td style="width:0.1%;"/><td style="width:1.0%;"/><td style="width:22.028%;"/><td style="width:1.0%;"/><td style="width:0.1%;"/><td style="width:0.375%;"/><td style="width:0.1%;"/><td style="width:1.0%;"/><td style="width:22.031%;"/><td style="width:1.0%;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Dollars in thousands)</span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">As of March 31, 2020,</span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">As of December 31, 2019,</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Loans</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">35,206 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">42,916 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Premises and equipment, net</span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">3,931 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">3,638 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:6pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Assets of branches held for sale</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">39,137 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">46,554 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr><tr><td colspan="3" style="height:12pt;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td colspan="3" style="height:12pt;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td colspan="2" style="height:12pt;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:3pt double #000;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></td><td style="height:12pt;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:3pt double #000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></td><td colspan="3" style="height:12pt;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="height:12pt;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:3pt double #000;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></td><td style="height:12pt;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:3pt double #000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Noninterest-bearing deposits</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">21,991 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">19,251 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Interest-bearing deposits</span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">165,816 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">169,019 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:6pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Deposits of branches held for sale</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;border-bottom:3pt double #000;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;border-bottom:3pt double #000;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">187,807 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;border-bottom:3pt double #000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;border-bottom:3pt double #000;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;border-bottom:3pt double #000;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">188,270 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;border-bottom:3pt double #000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr></table></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;">Mortgage Business Combination</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On March 2, 2020, the Bank and PMG (dba MVB Mortgage), entered into an Agreement by and among the Bank, PMG, Intercoastal Mortgage Company, a Virginia corporation (“Intercoastal”), and each of H. Edward Dean, III, Tom Pyne and Peter Cameron, providing for the combination of the mortgage origination services businesses of PMG and Intercoastal.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Pursuant to the terms of the Agreement, on the closing date, Intercoastal will convert into a Virginia limited liability company and PMG will contribute substantially all of its assets and liabilities associated with its mortgage operations to Intercoastal as a capital contribution, in exchange for common units of Intercoastal, representing 47% of the common interest of Intercoastal, as well as $7.5 million in preferred units (the “Transaction”). The completion of the Transaction is subject to certain regulatory approvals, conditions precedent and normal customary closing conditions. Subject to the satisfaction of such conditions, the Transaction is expected to close in mid-2020. In the Agreement, the Bank, MVB Mortgage, and Intercoastal have made customary representations, warranties, and covenants, including covenants to enter into ancillary agreements related to the Transaction and the operation of the business following the completion of the Transaction. MVB will recognize its ownership as a fair value equity investment and will no longer consolidate MVB Mortgage’s financial results.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;">Coronavirus Disease (</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">“</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;">COVID-19</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">”)</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;"> Pandemic</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The consolidated financial statements contained in this Quarterly Report as well as the description of our business contained herein, unless otherwise indicated, principally reflect the status of our business and the results of our operations as of March 31, 2020. During 2020, economies throughout the world have been severely disrupted by the effects of the quarantines, business closures, and the reluctance of individuals to leave their homes as a result of the outbreak of COVID-19. The full impact of COVID-19 is unknown and rapidly evolving. The outbreak and any preventative or protective actions that the Company or its customers may take in respect of this virus may result in a period of disruption, including the Company’s financial reporting capabilities, its operations generally and could potentially impact the Company’s customers, providers, and third parties. Any resulting financial impact cannot be reasonably estimated at this time but may materially affect the business and the Company’s financial condition and results of operations. The extent to which the COVID-19 impacts the Company’s results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19 and the actions to contain the virus or treat its impact, among others. Banking and financial services have been designated essential businesses; therefore, the Company’s operations are continuing. The Company is currently evaluating and quantifying the impact on its consolidated financial statements.</span></div>In response to COVID-19, President Donald Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property, and the creation of certain refundable employee retention credits. The Company is currently evaluating the impact on its consolidated financial statements and has not yet quantified what material impacts to the financial statements (if any) may result from the CARES Act. The CARES Act also established the Paycheck Protection Program (“PPP”), to be administered by the U.S. Small Business Administration (“SBA”), whereby certain small businesses are eligible for a loan to fund payroll expenses, rent, and related costs. The PPP loan may be forgiven if the funds are used for payroll and other qualified expenses. The Company is actively participating with the PPP, evaluating other programs available to assist our clients, and providing consumer deferrals consistent with government-sponsored enterprise (“GSE”) guidelines.
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates, such as the allowance for loan losses, are based upon known facts and circumstances. Estimates are revised by management in the period such facts and circumstances change. Actual results could differ from those estimates.
CY2019Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
0 USD
CY2020Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
0 USD
CY2020Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
217932000 USD
CY2020Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5601000 USD
CY2020Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
432000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
223101000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
231791000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4967000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
937000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
235821000 USD
CY2020Q1 us-gaap Pledged Financial Instruments Not Separately Reported Securities Pledged
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged
74400000 USD
CY2020Q1 mvbf Available For Sale And Held To Maturity Securities Continuous Unrealized Loss Position Aggregate Losses
AvailableForSaleAndHeldToMaturitySecuritiesContinuousUnrealizedLossPositionAggregateLosses
432000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
17075000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
224000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
22415000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
208000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
31931000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
276000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
43725000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
661000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
10300000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
13700000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
276000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
33000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
151000 USD
CY2020Q1 us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
14000 USD
CY2019Q1 us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
-180000 USD
CY2020Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1396606000 USD
CY2019Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1374235000 USD
CY2020Q1 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-28000 USD
CY2019Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
306000 USD
CY2020Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
1396578000 USD
CY2019Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1374541000 USD
CY2020Q1 mvbf Allowancefor Loan Losses Numberof Evaluation Components
AllowanceforLoanLossesNumberofEvaluationComponents
2 component
CY2020Q1 mvbf Financing Receivable Impaired Collectively Evaluated For Impairment By Allocation Rates Derived From Historical Impaired Loan Losses
FinancingReceivableImpairedCollectivelyEvaluatedForImpairmentByAllocationRatesDerivedFromHistoricalImpairedLoanLosses
2400000 USD
CY2019Q4 mvbf Financing Receivable Impaired Collectively Evaluated For Impairment By Allocation Rates Derived From Historical Impaired Loan Losses
FinancingReceivableImpairedCollectivelyEvaluatedForImpairmentByAllocationRatesDerivedFromHistoricalImpairedLoanLosses
2000000.0 USD
CY2020Q1 mvbf Financing Receivable Impaired Collectively Evaluated For Impairment By Allocation Rates Derived From Historical Impaired Loan Losses Related Reserves
FinancingReceivableImpairedCollectivelyEvaluatedForImpairmentByAllocationRatesDerivedFromHistoricalImpairedLoanLossesRelatedReserves
77000 USD
CY2019Q4 mvbf Financing Receivable Impaired Collectively Evaluated For Impairment By Allocation Rates Derived From Historical Impaired Loan Losses Related Reserves
FinancingReceivableImpairedCollectivelyEvaluatedForImpairmentByAllocationRatesDerivedFromHistoricalImpairedLoanLossesRelatedReserves
139000 USD
CY2020Q1 mvbf Number Of Rolling Quarters Utilized By Loan Portfolio
NumberOfRollingQuartersUtilizedByLoanPortfolio
12 quarter
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
11242000 USD
CY2020Q1 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
FairValueDisclosureOffbalanceSheetRisksAmountLiability
332000 USD
CY2019Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
FairValueDisclosureOffbalanceSheetRisksAmountLiability
332000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
11775000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1756000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
4000 USD
CY2020Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1138000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
11161000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
532000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
10629000 USD
CY2020Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
10226000 USD
CY2020Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1386380000 USD
CY2020Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1396606000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10939000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
0 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
3000 USD
CY2019Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
300000 USD
CY2019Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
12126000 USD
CY2020Q1 mvbf Impaired Financing Receivable Recorded Investment Identified Duringthe Period
ImpairedFinancingReceivableRecordedInvestmentIdentifiedDuringthePeriod
980000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1123000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
10119000 USD
CY2019Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12961000 USD
CY2019Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1327960000 USD
CY2019Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1340921000 USD
CY2020Q1 mvbf Impaired Financing Receivable Numberof Valuation Methods Used Total
ImpairedFinancingReceivableNumberofValuationMethodsUsedTotal
3 method
CY2020Q1 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
6030000 USD
CY2020Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
532000 USD
CY2020Q1 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
4196000 USD
CY2020Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
10226000 USD
CY2020Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
12954000 USD
CY2019Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
4392000 USD
CY2019Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
574000 USD
CY2019Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
5091000 USD
CY2019Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
9483000 USD
CY2020Q1 mvbf Financing Receivables Impaired Troubled Debt Restructuring Curtailments
FinancingReceivablesImpairedTroubledDebtRestructuringCurtailments
64000 USD
CY2020Q1 mvbf Numberof Loan Relationships Causing Increase Decreasein Impaired Loans
NumberofLoanRelationshipsCausingIncreaseDecreaseinImpairedLoans
1 loan
CY2020Q1 mvbf Impaired Financing Receivable Foreclosure And Reclassification To Other Real Estate Owned
ImpairedFinancingReceivableForeclosureAndReclassificationToOtherRealEstateOwned
23000 USD
CY2020Q1 mvbf Impaired Financing Receivable Classification To Performing Loans
ImpairedFinancingReceivableClassificationToPerformingLoans
6000 USD
CY2020Q1 mvbf Impaired Financing Receivable Normal Loan Amortization
ImpairedFinancingReceivableNormalLoanAmortization
145000 USD
CY2020Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
10709000 USD
CY2020Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
60000 USD
CY2020Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
47000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
12920000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
75000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
72000 USD
CY2020Q1 mvbf Impaired Financing Receivable Recorded Investment Foreclosures
ImpairedFinancingReceivableRecordedInvestmentForeclosures
1200000 USD
CY2019Q1 mvbf Impaired Financing Receivable Recorded Investment Foreclosures
ImpairedFinancingReceivableRecordedInvestmentForeclosures
2100000 USD
CY2020Q1 mvbf Loan Portfolio Internal Risk Rating System Points Number
LoanPortfolioInternalRiskRatingSystemPointsNumber
9 category
CY2020Q1 mvbf Loan Portfolio Internal Risk Rating System Considered As Not Criticized Categories Number
LoanPortfolioInternalRiskRatingSystemConsideredAsNotCriticizedCategoriesNumber
6 category
CY2020Q1 mvbf Financing Receivable Credit Quality Relationship Thresholdfor Review
FinancingReceivableCreditQualityRelationshipThresholdforReview
1000000 USD
CY2020Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1396606000 USD
CY2019Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1374235000 USD
CY2020Q1 mvbf Financing Receivable Nonaccrual Minimum Past Due Period
FinancingReceivableNonaccrualMinimumPastDuePeriod
P90D
CY2020Q1 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1386979000 USD
CY2020Q1 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
9627000 USD
CY2020Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1396606000 USD
CY2020Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
5909000 USD
CY2020Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0 USD
CY2019Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1364896000 USD
CY2019Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
9339000 USD
CY2019Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
1374235000 USD
CY2019Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
5123000 USD
CY2019Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0 USD
CY2020Q1 mvbf Specific Reserve Allocations For Troubled Debt Restructurings
SpecificReserveAllocationsForTroubledDebtRestructurings
436000 USD
CY2019Q4 mvbf Specific Reserve Allocations For Troubled Debt Restructurings
SpecificReserveAllocationsForTroubledDebtRestructurings
527000 USD
CY2020Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
7900000 USD
CY2019Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
7700000 USD
CY2020Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
4 contract
CY2020Q1 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
313000 USD
CY2020Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
308000 USD
CY2019Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
1 contract
CY2019Q1 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
268000 USD
CY2019Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
267000 USD
CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39004000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
37926000 USD
CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16675000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15952000 USD
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22329000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21974000 USD
CY2020Q1 mvbf Lease Liability
LeaseLiability
17400000 USD
CY2020Q1 mvbf Right Of Use Asset
RightOfUseAsset
16000000.0 USD
CY2020Q1 mvbf Weighted Average Remaining Lease Term Finance Lease
WeightedAverageRemainingLeaseTermFinanceLease
P2Y4M24D
CY2020Q1 mvbf Finance Lease Weighted Average Discount Rate Percent1
FinanceLeaseWeightedAverageDiscountRatePercent1
0.0280
CY2020Q1 mvbf Weighted Average Remaining Lease Term Operating Lease
WeightedAverageRemainingLeaseTermOperatingLease
P12Y7M6D
CY2020Q1 mvbf Operating Lease Weighted Average Discount Rate Percent1
OperatingLeaseWeightedAverageDiscountRatePercent1
0.0363
CY2020Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
18000 USD
CY2019Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
20000 USD
CY2020Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000 USD
CY2019Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
544000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
530000 USD
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
14000 USD
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
25000 USD
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
10000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
10000 USD
CY2020Q1 us-gaap Lease Cost
LeaseCost
587000 USD
CY2019Q1 us-gaap Lease Cost
LeaseCost
587000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
77000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2021000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
77000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2017000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
32000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1872000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1629000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1585000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
12746000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
186000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21870000 USD
CY2020Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
6000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4692000 USD
CY2020Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
180000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
17178000 USD
CY2020Q1 us-gaap Noninterest Bearing Domestic Deposit Demand
NoninterestBearingDomesticDepositDemand
387536000 USD
CY2019Q4 us-gaap Noninterest Bearing Domestic Deposit Demand
NoninterestBearingDomesticDepositDemand
278547000 USD
CY2020Q1 us-gaap Interest Bearing Domestic Deposit Demand
InterestBearingDomesticDepositDemand
375024000 USD
CY2019Q4 us-gaap Interest Bearing Domestic Deposit Demand
InterestBearingDomesticDepositDemand
351435000 USD
CY2020Q1 us-gaap Interest Bearing Domestic Deposit Savings
InterestBearingDomesticDepositSavings
378838000 USD
CY2019Q4 us-gaap Interest Bearing Domestic Deposit Savings
InterestBearingDomesticDepositSavings
363026000 USD
CY2020Q1 us-gaap Interest Bearing Domestic Deposit Time Deposits
InterestBearingDomesticDepositTimeDeposits
456841000 USD
CY2019Q4 us-gaap Interest Bearing Domestic Deposit Time Deposits
InterestBearingDomesticDepositTimeDeposits
272034000 USD
CY2020Q1 us-gaap Deposits Domestic
DepositsDomestic
1598239000 USD
CY2019Q4 us-gaap Deposits Domestic
DepositsDomestic
1265042000 USD
CY2020Q1 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
8382000 USD
CY2019Q4 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
8955000 USD
CY2020Q1 us-gaap Time Deposit Maturities Remainder Of Fiscal Year
TimeDepositMaturitiesRemainderOfFiscalYear
336219000 USD
CY2020Q1 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
67491000 USD
CY2020Q1 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
32344000 USD
CY2020Q1 us-gaap Time Deposit Maturities Year Four
TimeDepositMaturitiesYearFour
13558000 USD
CY2020Q1 us-gaap Time Deposit Maturities Year Five
TimeDepositMaturitiesYearFive
7229000 USD
CY2020Q1 us-gaap Time Deposits
TimeDeposits
456841000 USD
CY2020Q1 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="margin-bottom:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Information related to repurchase agreements is summarized as follows:</span></div><div style="text-align:justify;margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:100.000%;"><tr><td style="width:1.0%;"/><td style="width:47.856%;"/><td style="width:1.0%;"/><td style="width:0.1%;"/><td style="width:0.518%;"/><td style="width:0.1%;"/><td style="width:1.0%;"/><td style="width:23.718%;"/><td style="width:1.0%;"/><td style="width:0.1%;"/><td style="width:0.518%;"/><td style="width:0.1%;"/><td style="width:1.0%;"/><td style="width:20.990%;"/><td style="width:1.0%;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(Dollars in thousands)</span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">As of and for the three months ended March 31, 2020</span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"/></span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">As of and for the year ended December 31, 2019</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Balance at end of period</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">9,346 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">10,172 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Average balance during the period</span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">9,520 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">11,252 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Maximum month-end balance</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">9,788 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">14,655 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Weighted-average rate during the period</span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">0.44 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">%</span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">0.43 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">%</span></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Weighted-average rate at end of period</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">0.13 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">%</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">0.44 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:9pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">%</span></td></tr></table></div>
CY2020Q1 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
30815000 USD
CY2019Q4 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
30822000 USD
CY2019 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
12400000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
22000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
32000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
10761000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
10000000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
10000000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
4124000 USD
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
34939000 USD
CY2019Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
5000000.0 USD
CY2020Q1 us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P12M
CY2020Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
16300 shares
CY2020Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
16.00
CY2020Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1048000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3192000 USD
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
114000 USD
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
121000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
934000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3071000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
934000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3071000 USD
CY2020Q1 us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
0 USD
CY2019Q1 us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
121000 USD
CY2020Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2019Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
184000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
934000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3376000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11942767 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11607543 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2020Q1 us-gaap Goodwill
Goodwill
19630000 USD
CY2019Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
489625 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
837500 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
355325 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
242613 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12298092 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13177281 shares
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
20699000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
4528000 USD
CY2020Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
16171000 USD
CY2020Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
1138000 USD
CY2020Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
15033000 USD
CY2020Q1 mvbf Mortgage Fee Income
MortgageFeeIncome
11219000 USD
CY2020Q1 mvbf Noninterest Income Excluding Income On Loans Held For Sale And Insurance Income
NoninterestIncomeExcludingIncomeOnLoansHeldForSaleAndInsuranceIncome
-369000 USD
CY2020Q1 us-gaap Noninterest Income
NoninterestIncome
10850000 USD
CY2020Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
16182000 USD
CY2020Q1 mvbf Noninterest Expense Excluding Salaries And Employee Benefits
NoninterestExpenseExcludingSalariesAndEmployeeBenefits
8474000 USD
CY2020Q1 us-gaap Noninterest Expense
NoninterestExpense
24656000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1227000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
179000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
1048000 USD
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
114000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
934000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1384000 USD
CY2020Q1 us-gaap Assets
Assets
2099680000 USD
CY2019Q4 us-gaap Assets
Assets
1944114000 USD
CY2019Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
300000 USD
CY2019Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
13672000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
19630000 USD
CY2019Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
19623000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
5651000 USD
CY2019Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
13972000 USD
CY2019Q1 mvbf Mortgage Fee Income
MortgageFeeIncome
6670000 USD
CY2019Q1 mvbf Noninterest Income Excluding Income On Loans Held For Sale And Insurance Income
NoninterestIncomeExcludingIncomeOnLoansHeldForSaleAndInsuranceIncome
2095000 USD
CY2019Q1 us-gaap Noninterest Income
NoninterestIncome
8765000 USD
CY2019Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
11734000 USD
CY2019Q1 mvbf Noninterest Expense Excluding Salaries And Employee Benefits
NoninterestExpenseExcludingSalariesAndEmployeeBenefits
6714000 USD
CY2019Q1 us-gaap Noninterest Expense
NoninterestExpense
18448000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3989000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
797000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
3192000 USD
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
121000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3071000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
115000 USD
CY2019Q1 us-gaap Assets
Assets
1789908000 USD
CY2018Q4 us-gaap Assets
Assets
1750969000 USD
CY2019Q1 us-gaap Goodwill
Goodwill
18480000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
18480000 USD
CY2014Q2 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0446
CY2020Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
0 USD
CY2019Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
0 USD
CY2020Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
91000 USD
CY2019Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
98000 USD
CY2020Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
109000 USD
CY2019Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
102000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-105000 USD
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-68000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
0 USD
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
0 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
87000 USD
CY2019Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
64000 USD
CY2020Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
349000 USD
CY2019Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
90000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1820000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
569000 USD
CY2020Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
9030000 USD
CY2019Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
8196000 USD
CY2020Q1 us-gaap Noninterest Income
NoninterestIncome
10850000 USD
CY2019Q1 us-gaap Noninterest Income
NoninterestIncome
8765000 USD

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