FAIRMONT, W. Va.--(BUSINESS WIRE)--MVB Financial Corp. (Nasdaq: MVBF), the holding company for MVB Bank, Inc., and the Bank’s subsidiaries, continues to implement its MVB 3.0 strategy of seeking “blue ocean” opportunities, including partnership with fintech companies.

MVB continues to carve a niche in the fintech industry by making strategic investments in fintech companies. To date, MVB has invested a total of $3.1 million in various fintech companies. After a recent valuation of MVB’s fintech investment portfolio, MVB intends to recognize a pre-tax gain on its equity investment of $13.5 million that will be recognized in the Second Quarter of 2019. MVB’s fintech investment portfolio is now valued at approximately $17.3 million. Over the past three years, MVB has had a 458% gain in value.

To leverage this growth, MVB plans to utilize a portion of the gain into additional investments, new hires, technology and related costs to further build out its fintech vertical. MVB also plans to utilize the gain to retire the remaining subordinated debt that is outstanding as of July 1, 2019.

“MVB’s fintech vertical hit a tipping point during 2018 and is positively impacting our balance sheet and income statement. At MVB, we are leveraging technology, creativity and innovation to modernize as we move from the old model of banking to the new. We welcome disruptors and actually embrace them and invest in them,” said Larry F. Mazza, President and CEO, MVB Financial Corp.

“MVB strives to be a trusted partner and thus a preferred bank of the fintech industry, a strategy that has brought significant shareholder value. This is an example of our model going beyond traditional banking and leveraging the disruption occurring in the financial services industry to the benefit of MVB shareholders.”

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.” Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. 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. For more information about MVB, please visit ir.mvbbanking.com.