FAIRMONT, W. Va.--(BUSINESS WIRE)--MVB Financial Corp. (NASDAQ: MVBF) today announced the approval to extend the current stock repurchase program.

Under the extended program, MVB is authorized to repurchase up to $5 million of its outstanding shares of common stock over the next 12 months or until such time as the aggregate authorized share repurchases are completed, whichever date comes first. The extended stock repurchase program does not require MVB to repurchase any specified number of shares of its common stock, and it may be discontinued, suspended, or restarted at any time at MVB’s discretion.

Currently, the Company has approximately 12.1 million shares of common stock issued and 12.0 million shares of common stock outstanding. The shares authorized for repurchase under the extended program represent approximately 3.05% of the company’s issued shares and 3.07% of the company’s outstanding shares of common stock. Through the previously announced stock repurchase program, the Company repurchased 49,100 shares of common stock through July 31, 2020.

About MVB Financial Corp.

MVB Financial Corp. (“MVB Financial” or “MVB”), the holding company of MVB Bank, Inc., 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 Community Development Corporation, Chartwell Compliance and Paladin, the Company provides financial services to individuals and corporate clients in the Mid-Atlantic region and beyond. Chartwell Compliance is one of the world’s leading specialist firms in state and federal compliance and market entry facilitation for firms entering into or expanding in North America, serving many of the most high-profile providers of the Fintech industry. For more information about MVB, please visit http://ir.mvbbanking.com.