Addition Marks Another Major Milestone in MVB Growth Journey
FAIRMONT, W.Va.--(BUSINESS WIRE)--
MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial” or “MVB”), the
holding company of MVB Bank, today announced that FTSE Russell has added
MVB to the Russell 2000® Index as part of its annual
index reconstitution. The Russell Index changes took effect after the
market close on Friday, June 22, 2018.
“At MVB Financial, we continue to think bigger. In December 2017 when
MVB became the first West Virginia-based bank in 18 years to be listed
on The Nasdaq, we said the next major milestone in our growth journey
would be qualifying for inclusion in the Russell 2000®
Index as part of the index’s annual reconstitution. Now we’re here and
ready for our next challenge,” said Larry F. Mazza, CEO and President,
MVB Financial Corp.
“Today we’re at approximately $200 million in market capitalization.
With our robust economy and MVB’s entrepreneurial spirit, I believe that
we have a long runway to grow. The best is yet to come!”
FTSE Russell index expertise and products are used by institutional and
retail investors globally; more than $15 trillion is currently
benchmarked to its indexes. MVB will hold its membership until FTSE
Russell reconstitutes its indexes in June 2019.
The annual reconstitution of the Russell 3000®
captures the 3,000 largest U.S. stocks as of the end of May, ranking
them by total market capitalization. The largest 1,000 companies in this
ranking comprise the Russell 1000®, and the next 2,000
companies become the Russell 2000®. For more
information, visit the “Russell Reconstitution” homepage on www.ftserussell.com.
Since 2015, MVB Bank, has launched seven banking locations, including
the newest in Leesburg, Va., and Morgantown, W.Va., as well as new
banking offices in Fairmont, W.Va.; Charleston, W.Va.; two acquired
locations in the Eastern Panhandle of West Virginia; and, a location in
Reston, Va. MVB offers its clients the convenience of state-of-the-art
banking technology while retaining the personal touch of a community
bank, setting MVB apart in key deposit markets. The MVB Bank footprint
in West Virginia and Virginia now encompasses 14 total locations, as
well as 18 MVB Mortgage locations in West Virginia; Virginia;
Washington, D.C.; North Carolina; and South Carolina.
For more information about MVB Bank, visit www.MVBbanking.com
or call toll-free 844-MVB-BANK (844-682-2265).
About MVB Financial Corp.
MVB Financial Corp. (“MVB Financial” or “MVB”), the holding company of
MVB Bank, is publicly traded on The Nasdaq Capital Market® under the
ticker “MVBF.”
MVB is a financial holding company headquartered in Fairmont, W.Va.
Through its subsidiary, MVB Bank, Inc., and the bank’s subsidiaries, MVB
Mortgage and MVB Community Development Corporation, the company provides
financial services to individuals and corporate clients in the
Mid-Atlantic region.
Nasdaq is a leading global provider of trading, clearing, exchange
technology, listing, information and public company services.
For more information about MVB, please visit ir.mvbbanking.com.
Forward-looking Statements
MVB Financial Corp. has made forward-looking statements, within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
in this Press Release. These forward-looking statements are based on
current expectations about the future and subject to risks and
uncertainties. Forward-looking statements include information concerning
possible or assumed future results of operations of the Company and its
subsidiaries. When words such as "believes," "expects," "anticipates,"
"may," or similar expressions occur in this Press Release, the Company
is making forward-looking statements. Note that many factors could
affect the future financial results of the Company and its subsidiaries,
both individually and collectively, and could cause those results to
differ materially from those expressed in the forward-looking statements
contained in this Press Release. Those factors include, but are not
limited to: credit risk, changes in market interest rates, inability to
achieve merger-related synergies, competition, economic downturn or
recession, and government regulation and supervision. Additional factors
that may cause our actual results to differ materially from those
described in our forward-looking statements can be found in the
Company’s Annual Report on Form 10-K for the year ended December 31,
2017, as well as its other filings with the SEC, which are available on
the SEC website at www.sec.gov.
Except as required by law, the Company undertakes no obligation to
update or revise any forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180625005997/en/
MVB Financial Corp.
Media Contact:
Amy Baker,
844-682-2265
VP, Corporate Communications
abaker@mvbbanking.com
or
Investor
Relations Contact:
Sue Campbell, 844-682-2265
scampbell@mvbbanking.com
Source: MVB Financial Corp.