MVB Financial Reports Increased Net Income for Full Year 2016

"Our year end results demonstrate the benefits of our consistent focus on execution of our strategic plan and increasing our net interest margin," Mazza said.

Notable actions:

• On June 30, 2016, at the end of the second quarter, MVB announced the sale of substantially all of the assets of its wholly-owned subsidiary, MVB Insurance, LLC (MVB Insurance), to USI Insurance Services (USI). MVB and MVB Insurance retained the assets related to, and continue to operate, MVB Insurance's title insurance business. The company realized a pre-tax gain of $6.9 million because of the transaction.
• The MVB Board of Directors approved four quarterly dividends throughout the year, totaling $0.08 for the year 2016.
• In December 2016, MVB Financial announced the closing of a private placement of common stock with gross proceeds of approximately $22 million. MVB issued 1,913,044 shares of common stock, at a price of $11.50 per share to certain institutional investors. The proceeds from the private placement will be used for general corporate purposes. A portion of the proceeds, $8.5 million, was used in January 2017 to redeem the preferred stock issued to the United States Department of Treasury in connection with the Company's participation in the Small Business Lending Fund.
• BauerFinancial, Inc., the nation's leading bank rating and research firm, again recognized MVB Bank as a 5-Star Superior bank, indicating MVB's bank's safety, soundness and financial strength. MVB Bank has received the 5-Star Superior bank rating for 23 consecutive quarters and a BauerFinancial, Inc., Recommended Bank rating for 57 consecutive quarters.

About MVB Financial Corp.

MVB is a financial holding company headquartered in Fairmont, W.Va. Through its subsidiary, MVB Bank, Inc., and the bank's subsidiary, MVB Mortgage, the company provides financial services to individuals and corporate clients in the Mid-Atlantic region.

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For more information, please visit ir.mvbbanking.com.

Forward-Looking Statements

All statements other than statements of historical fact included herein are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934. Such information involves risks and uncertainties that could result in the actual results of MVB Financial Corp. ("MVB Financial" or the "Company") differing materially from those projected in the forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "may," "might," "will," "would," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "likely," "potential" or "continue" or other similar terms or expressions. Important factors that could cause actual results to differ materially from those discussed in such forward-looking statements include, but are not limited to: (i) the Company may incur loan losses due to negative credit quality trends in the future that may lead to deterioration of asset quality; (ii) the Company may incur increased charge-offs in the future; (iii) the Company could have adverse legal actions of a material nature; (iv) the Company may face competitive loss of customers; (v) the Company may be unable to manage its expense levels; (vi) the Company may have difficulty retaining key employees; (vii) changes in the interest rate environment may have results on the Company's operations materially different from those anticipated by the Company's market risk management functions; (viii) changes in general economic conditions and increased competition could adversely affect the Company's operating results; (ix) changes in other regulations, government policies, and application of regulations affecting bank holding companies and their subsidiaries, including changes in monetary policies, may negatively impact the Company's operating results and that could negatively impact or preclude current and future acquisition activities; (x) the effects of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Basel III may adversely affect the Company; (xi) the risk that the benefits from any acquisitions may not be fully realized or may take longer to realize than expected, including as a result of changes in general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, the degree of competition in the geographic and business areas in which the Company operates and integration factors; (xii) diversion of management time on acquisition or diversified growth issues; and (xiii) other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as required by law, we do not undertake any obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.

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SOURCE MVB Financial Corp.