MVB Financial Corp MVBF Income Statement

Mvb financial corp (MVBF)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
INTEREST INCOME
Interest and fees on loans
18,939	19,385	19,238	18,569	17,662	17,691	16,364	15,122	13,291	13,522	13,275	12,538	11,882	12,516	12,484	12,587	12,431	11,455	10,584	9,839	8,764	8,494	8,161	7,996	7,298	7,289	5,540	5,528	5,370	5,027	4,855	4,635	4,588	4,403	4,306	3,987	3,750	3,673	3,449	3,092	3,254
Interest on deposits with other banks
111	110	132	125	122	119	103	91	90	90	89	82	79	71	81	82	88	76	71	63	64	73	53	51	46	49	54	52	45	48	47	51	58	43	11	13	36	86	115	208	178
Interest on investment securities - taxable
666	719	689	768	879	925	869	891	895	774	693	645	546	382	342	332	310	284	213	222	239	250	253	358	411	431	363	275	279	289	335	407	426	438	393	364	344	356	401	303	367
Interest on tax exempt loans and securities
983	1,016	979	1,008	960	851	840	840	778	700	573	549	561	669	616	579	553	537	548	570	571	586	627	757	754	680	589	489	482	482	381	318	307	295	211	206	208	219	224	178	184
Total interest income
20,699	21,230	21,038	20,470	19,623	19,586	18,176	16,944	15,054	15,086	14,630	13,814	13,068	13,638	13,523	13,580	13,382	12,352	11,416	10,694	9,638	9,403	9,094	9,162	8,509	8,449	6,546	6,344	6,176	5,846	5,618	5,411	5,379	5,179	4,921	4,570	4,338	4,334	4,189	3,781	3,983
INTEREST EXPENSE
Interest on deposits
3,910	4,315	4,453	4,548	4,123	3,697	3,110	2,530	2,298	2,342	2,083	1,963	1,906	2,009	1,902	1,949	1,888	1,692	1,665	1,522	1,367	1,430	1,337	1,691	1,105	1,078	1,065	949	907	973	974	954	965	943	969	985	955	1,022	1,105	1,125	1,149
Interest on repurchase agreements
10	11	12	11	14	7	10	20	19	19	20	19	17	17	17	17	21	21	18	20	24	29	29	107	126	165	131	148	123	152	116	129	114	145	125	124	109	136	115	101	122
Interest on FHLB and other borrowings
573	997	1,383	1,095	1,229	1,149	1,199	1,197	714	474	548	380	288	225	316	319	226	199	159	177	157	-17	126	143	263	-155	206	229	262	-	113	-	-	-	-	-	-	-	-	-	-
Interest on subordinated debt
35	42	156	287	285	323	333	542	558	568	565	558	551	562	559	553	552	556	556	549	543	553	544	26	19	20	20	19	20	-	22	-	-	-	-	-	-	-	-	-	-
FHLB and other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	122	116	116	114	114	120	-	-	-	-
FHLB and other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	123	131	131
Subordinated debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22	22	21	20	20	20	-	23	19	20
Total interest expense
4,528	5,365	6,004	5,941	5,651	5,176	4,652	4,289	3,589	3,403	3,216	2,920	2,762	2,813	2,794	2,838	2,687	2,468	2,398	2,268	2,091	1,995	2,036	1,967	1,513	1,108	1,422	1,345	1,312	1,261	1,225	1,227	1,217	1,225	1,228	1,243	1,204	1,306	1,366	1,376	1,422
NET INTEREST INCOME
16,171	15,865	15,034	14,529	13,972	14,410	13,524	12,655	11,465	11,683	11,414	10,894	10,306	10,825	10,729	10,742	10,695	9,884	9,018	8,426	7,547	7,408	7,058	7,195	6,996	7,341	5,124	4,999	4,864	4,585	4,393	4,184	4,162	3,954	3,693	3,327	3,134	3,028	2,823	2,405	2,561
Provision for loan losses
1,138	232	657	600	300	292	1,069	605	474	1,036	96	523	518	657	1,075	1,275	625	637	636	561	659	391	783	889	519	267	326	667	1,000	675	775	675	675	502	591	330	300	340	240	280	240
Net interest income after provision for loan losses
15,033	15,633	14,377	13,929	13,672	14,118	12,455	12,050	10,991	10,647	11,318	10,371	9,788	10,168	9,654	9,467	10,070	9,247	8,382	7,865	6,888	7,017	6,275	6,306	6,477	7,074	4,798	4,332	3,864	3,910	3,618	3,509	3,487	3,452	3,102	2,997	2,834	2,688	2,583	2,125	2,321
NONINTEREST INCOME
Noninterest income
1,820	-	753	-	569	-	617	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service charges on deposit accounts
-	-	-	333	-	-	-	281	185	-	207	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service charges on deposit accounts
-	-	-	-	-	-	-	-	-	-	-	165	187	-	199	185	173	175	175	164	132	177	183	171	146	184	183	169	137	194	197	178	161	189	178	163	130	160	143	172	183
Income on bank owned life insurance
223	224	224	224	525	224	520	220	218	193	151	155	147	161	158	158	161	161	160	165	167	164	169	127	128	118	118	132	92	112	75	78	78	81	78	81	47	72	64	64	65
Visa debit card and interchange income
-	-	-	181	-	-	-	142	150	-	293	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interchange and debit card transaction fees
-	-	-	-	-	-	-	-	-	-	-	318	295	-	291	309	292	303	244	231	209	204	203	203	168	231	148	139	123	-	120	-	-	-	-	-	-	-	-	-	-
Mortgage fee income
11,219	13,015	11,496	9,864	6,670	7,703	9,008	9,063	6,563	8,545	10,018	8,952	9,634	8,850	10,668	9,397	6,785	5,591	8,955	8,617	6,309	5,066	4,948	4,333	3,210	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of portfolio loans
130	292	50	123	55	-19	5	0	212	61	265	203	9	204	238	451	149	294	319	454	346	1	216	658	675	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Visa debit card income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	114	111	105	106	107	96	98	93	79	91
Gain on loans held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,360	7,430	4,928	2,164	618	638	430	367	318	180	92	262	170	89	113
Capitalized servicing retained income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	93	318	338	-	-	-	0	-	-	-	-	-	-	-	-
Insurance and investment services income
207	225	179	167	156	176	199	177	164	168	147	124	124	117	128	122	53	-1,565	98	107	1,698	-2,417	909	820	1,016	-	570	122	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on sale of available-for-sale securities, net
276	13	-11	-50	-118	0	1	0	326	-	105	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Loss) on sale of equity securities, net
-	-	0	-7	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of securities, net
-	-	-	-	-	-	-	-	-	-	-	167	183	-	479	222	381	0	4	5	121	17	271	125	0	63	0	81	1	-	113	-	-	-	-	-	-	-	-	-	-
Gain on sale of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	66	348	129	207	149	-	-	-	-
(Loss) gain on derivatives, net
-3,562	-1,436	1,108	1,131	450	-787	-728	653	584	-506	-1,306	1,037	-1,947	34	1	1,031	401	608	-2,039	-143	2,249	-550	-391	604	335	-364	-276	-178	877	-	-	-	0	-	-	-	-	-	-	-	-
Commercial swap fee income
320	571	628	438	80	133	6	0	413	181	52	270	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Holding gain on equity securities
14	0	0	13,587	180	8	623	-11	-30	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Compliance consulting income
1,009	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	626	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating income
464	408	535	396	311	377	435	270	254	681	226	176	192	143	364	126	217	-493	537	47	168	-42	72	25	78	-1,627	812	410	488	120	560	258	188	135	170	126	106	137	95	117	99
Gain on sale of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32	47	9
Total noninterest income
10,850	14,756	14,696	26,387	8,765	8,295	10,511	10,795	9,039	10,157	10,158	11,567	8,824	10,066	12,526	12,001	8,612	5,456	8,453	9,647	11,399	2,620	6,580	7,066	5,756	4,327	7,634	8,623	6,984	3,759	1,683	1,273	1,034	1,225	979	864	620	729	597	568	560
NONINTEREST EXPENSES
Salaries and employee benefits
16,182	15,723	15,438	13,280	11,734	11,737	11,520	12,494	10,473	11,099	11,249	11,798	9,962	10,799	12,383	11,735	10,308	7,763	9,284	9,292	9,734	5,447	7,598	7,932	6,797	6,195	7,215	7,437	6,220	3,018	2,129	2,163	1,956	1,901	1,725	1,669	1,422	1,295	1,267	1,146	1,088
Occupancy expense
1,220	1,362	1,103	1,166	1,185	1,056	1,049	1,080	1,049	1,001	1,042	1,047	994	949	898	901	938	870	833	812	875	668	732	677	627	480	448	480	430	232	207	209	204	199	182	173	143	144	149	146	151
Equipment depreciation and maintenance
877	951	931	904	854	800	834	821	784	791	783	742	689	671	635	586	560	517	543	470	483	368	400	349	362	341	341	247	328	199	185	177	156	155	152	161	126	122	127	106	117
Data processing and communications
1,163	1,000	1,068	969	988	1,006	938	962	835	1,283	1,139	1,480	1,214	1,150	1,434	1,256	1,124	1,117	1,047	920	926	653	733	696	686	1,594	279	246	205	222	173	129	88	160	147	69	36	37	78	140	137
Mortgage processing
851	788	728	716	809	800	867	992	892	752	818	743	894	899	802	793	861	848	774	790	746	806	596	567	545	499	723	678	507	-	-	-	-	-	-	-	-	-	-	-	-
Marketing, contributions, and sponsorships
336	355	437	294	214	134	271	348	347	333	263	277	327	298	355	350	297	274	391	350	337	308	293	290	246	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Visa debit card expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	132	111	102	-	110	-	-	-	-	-	-	-	-	-	-
Visa debit card expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	94	91	87	84	84	77	77	79	65	74
Advertising
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	540	333	236	69	229	182	167	199	121	87	75	123	73	36	106
Professional fees
1,331	1,974	1,316	881	828	1,011	1,015	788	745	879	851	736	677	427	750	838	705	1,034	919	617	662	714	645	380	498	1,222	370	183	202	127	85	68	116	340	151	77	64	45	42	36	44
Printing, postage, and supplies
177	193	174	172	135	165	198	234	165	205	320	246	217	180	169	202	216	206	205	165	186	131	186	199	193	401	137	162	88	59	50	57	34	49	38	48	37	33	31	26	40
Insurance, tax, and assessment expense
464	253	418	487	505	513	487	456	390	394	475	467	461	421	374	359	374	174	393	399	428	331	423	385	339	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consulting fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	196	105	120	666	132	111	113	117	92	107	92	95	61	0	55
FDIC insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	90	135	139	100	121	54	27	46	79	124	119	128	129	137	129
Travel, entertainment, dues, and subscriptions
1,218	1,432	1,125	904	690	817	712	631	648	600	562	558	501	513	393	451	368	406	451	402	320	295	330	362	312	853	179	127	85	-	-	-	-	-	-	-	-	-	-	-	-
Other taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47	46	44	49	40	37	49	50	47	45	48
Other operating expenses
837	962	642	617	506	393	526	443	411	398	464	409	381	463	546	285	240	383	-84	328	258	233	279	351	232	-995	932	739	743	927	383	386	342	403	341	352	274	326	252	249	208
Total noninterest expenses
24,656	24,983	23,380	20,390	18,448	18,473	18,417	19,249	16,739	17,714	17,966	18,503	16,317	16,723	18,739	17,756	15,991	13,592	14,756	14,545	14,955	9,954	12,215	12,188	10,837	10,663	11,582	10,983	9,405	5,574	3,851	3,676	3,338	3,705	3,152	2,988	2,514	2,475	2,335	2,132	2,197
Income before income taxes
1,227	5,406	5,693	19,926	3,989	3,940	4,549	3,596	3,291	3,090	3,510	3,435	2,295	3,511	3,441	3,712	2,691	1,111	2,079	2,967	3,332	-317	640	1,184	1,396	738	850	1,972	1,443	2,095	1,450	1,106	1,183	972	929	873	940	-	-	-	-
Income before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	845	561	684
Income tax expense
179	1,311	1,347	4,995	797	941	970	765	697	1,667	1,192	1,175	721	1,147	1,131	1,254	846	200	569	888	1,229	-308	103	215	238	147	93	488	255	653	402	289	322	245	256	237	274	260	225	133	177
Net Income from continuing operations
-	-	4,346	14,931	-	2,999	3,579	2,831	2,594	1,423	2,318	2,260	1,574	2,364	2,310	2,458	1,845	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,510	2,079	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from discontinued operations, before income taxes
-	-	-25	600	-	-	0	0	-	-	-	-	-	-91	0	6,516	-79	-	-167	-279	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense - discontinued operations
-	-	-6	154	-	-	0	0	-	-	-	-	-	-34	0	2,475	-30	-	-63	-105	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-57	0	4,041	-49	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) from discontinued operations
-	-	-19	446	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-104	-174	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
1,048	4,095	4,327	15,377	3,192	-	3,579	2,831	-	-	-	-	-	2,307	2,310	6,499	1,796	1,402	1,406	1,905	2,103	-585	537	969	1,158	591	757	1,484	1,188	1,442	1,048	817	861	727	673	636	666	682	620	428	507
Preferred dividends
114	115	121	122	121	123	123	122	121	124	123	122	129	314	314	314	186	145	145	143	142	145	144	22	21	21	21	22	21	73	21	21	21	-	0	0	-	-	-	-	-
Net income available to common shareholders - basic
934	3,980	4,206	15,255	3,071	2,876	3,456	2,709	2,473	1,299	2,195	2,138	1,445	1,993	1,996	6,185	1,610	1,257	1,261	1,762	1,961	-730	393	947	1,137	570	736	1,462	1,167	1,369	1,027	796	840	-	673	636	-	-	-	-	-
Earnings per share from continuing operations - basic (in dollars per share)
-	-	0.36	1.27	-	0.25	0.30	0.25	0.24	0.13	0.21	0.21	0.14	0.23	0.25	0.27	0.21	-	0.17	0.24	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share from discontinued operations - basic (in dollars per share)
-	-	0.00	0.04	-	-	0.00	0.00	-	-	-	-	-	-0.01	0.00	0.50	-0.01	-	-0.01	-0.02	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share - basic (in dollars per share)
0.08	0.33	0.36	1.31	0.26	-	0.30	0.25	-	-	-	-	-	0.22	0.25	0.77	0.20	0.15	0.16	0.22	0.25	-0.10	0.05	0.12	0.15	0.07	0.11	0.21	0.20	-0.27	0.47	0.34	0.38	0.31	0.31	0.29	0.33	0.43	0.39	0.26	0.32
Earnings per share from continuing operations - diluted (in dollars per share)
-	-	0.35	1.15	-	0.23	0.29	0.25	0.23	0.13	0.21	0.20	0.14	0.23	0.24	0.25	0.20	-	0.17	0.23	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share from discontinued operations - diluted (in dollars per share)
-	-	0.00	0.03	-	-	0.00	0.00	-	-	-	-	-	0.01	0.00	0.38	0.00	-	-0.01	-0.02	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share - diluted (in dollars per share)
0.08	0.41	0.35	1.18	0.26	-	0.29	0.25	-	-	-	-	-	0.24	0.24	0.63	0.20	0.16	0.16	0.21	0.24	-0.10	0.05	0.12	0.15	0.07	0.10	0.21	0.19	-0.27	0.46	0.33	0.38	0.30	0.30	0.29	0.32	0.43	0.38	0.26	0.31
Cash dividends declared - common shares (in dollars per share)
-	-	0.05	0.04	-	-	0.03	0.02	0.02	-	0.02	0.02	0.02	0.02	0.02	0.02	0.02	-	0.02	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-	-	-	-	-	-	-	-
Cash dividends declared
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.04	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average shares outstanding - basic (in shares)
11,942	11,872	11,731	11,644	11,607	11,598	11,416	10,634	10,474	10,451	10,443	10,343	9,996	8,627	8,080	8,078	8,061	8,063	8,023	7,987	7,983	8,085	8,032	7,897	7,606	6,983	6,908	6,885	5,851	10,991	2,195	2,183	2,183	2,185	2,185	2,187	2,032	1,595	1,593	1,604	1,599
Weighted average shares outstanding - diluted (in shares)
12,298	9,747	12,098	13,155	13,177	13,558	13,113	11,502	12,714	7,160	12,410	12,181	10,009	9,506	10,434	10,433	9,901	6,314	8,176	9,934	8,135	8,223	8,246	8,110	7,828	7,574	7,140	7,054	5,986	11,321	2,245	2,236	2,233	2,263	2,221	2,223	2,068	1,627	1,618	1,631	1,626
Service charges on deposit accounts
Noninterest income
450	-	337	-	315	-	275	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debit card and interchange income
Noninterest income
100	-	150	-	141	-	167	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-