MVB Bank

MVB Financial Corp., operating through its primary subsidiary MVB Bank, Inc., is a financial holding company that has transitioned from a traditional community bank to a specialized, tech-forward institution. Founded in 1997 and headquartered in Fairmont, West Virginia, the company initially focused on serving its local community. Under the leadership of CEO Larry F. Mazza, who joined in 2005 and became CEO in 2009, the bank has experienced significant expansion. Mazza, a Certified Public Accountant with extensive experience at institutions like BB&T, guided MVB's strategic shift toward embracing the financial technology sector.

The company's business model integrates traditional community and retail banking with a significant focus on providing financial technology solutions. Revenue is generated through net interest income from its loan portfolio and noninterest income from its fintech and mortgage banking activities. The bank operates two core segments: CoRe (Commercial and Retail) Banking and a fintech division. The CoRe banking segment serves individuals and small to medium-sized businesses in West Virginia and Virginia with a suite of products including various deposit accounts, commercial and consumer loans, and real estate mortgages.

MVB's key differentiator is its specialized banking services for the fintech industry, positioning itself as a preferred partner for companies in complex, high-growth verticals like gaming, digital assets, and payments. This Banking-as-a-Service (BaaS) platform provides critical infrastructure, payment processing, API-driven solutions, and compliance support for its national client base. The fintech division has become a substantial driver of deposit growth and fee income. To bolster this strategy, MVB established MVB Edge Ventures, a subsidiary to oversee technology investments and acquisitions. Notable acquisitions included Trabian, a software developer, and Paladin, a fraud prevention firm. The company also acquired Chartwell Compliance in 2019 to enhance its in-house compliance expertise and create a new revenue stream, though Chartwell was later sold in 2023 after its strategic goals were met.

Through its subsidiaries, MVB provides solutions designed to simplify bank-fintech partnerships. Victor Technologies, a key subsidiary, offers an integrated risk management software and developer-friendly APIs that enable fintechs to embed financial services and facilitate payments via ACH, wires, and real-time payment (RTP) networks. This tech-focused approach allows MVB to serve clients like CreditKarma and partner with firms such as NYDIG to integrate bitcoin-related products into its BaaS offerings. The company is publicly traded on the Nasdaq Capital Market under the ticker "MVBF".

Keywords: Banking-as-a-Service, BaaS, fintech banking, payment processing, gaming payments, digital asset banking, embedded finance, commercial banking, community banking, regulatory compliance, risk management, API banking, real-time payments, RTP network, financial holding company, MVB Edge Ventures, Victor Technologies, BaaS provider, fintech solutions, corporate banking, deposit services, commercial lending, fraud prevention, bank-fintech partnerships, core banking, venture investing