Case 29 MVB Financial Corporation

B. Rajesh Kumar
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B. Rajesh Kumar: Institute of Management Technology

A chapter in Rising Stars, 2024, pp 219-224 from Springer

Abstract: Abstract MVB Financial Corp is a financial holding company incorporated in the year 2003 and operates principally through its wholly owned subsidiary MVB Bank. The consolidated subsidiaries of the bank include MVB Insurance LLC and MVB Community Development Corporation. MVB Financial Corporation is involved in a range of commercial and retail (CoRe) banking services and Fintech banking. The products and services offered to customers under CoRe banking include different demand deposits, savings account, money market accounts, certificates of deposits, commercial, consumer and real estate mortgage loans, and lines of credit. Debit cards, cashier’s checks, and safe deposit rental facilities are also offered. The bank provides client services for payments, digital savings, cryptocurrency, crowdfunding, and gaming industries. The growth strategy of MVB focusses on strategic components such as building fintech, strategic acquisition, resource allocation, efficient capital structure, and introduction of new business lines. The 5-year holding period (2016–2021) return for MVB Financial Corp stock was 234% whereas for KBW Bank index and Russell 2000, the returns amounted to 44% and 65%, respectively.

Date: 2024
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DOI: 10.1007/978-3-031-50032-9_29

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