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Stock impact report

MVB Financial Corp. Announces Investment Securities Repositioning Strategy [Yahoo! Finance]

MVB Financial Corp. (MVBF) 
NASDAQ:AMEX Investor Relations: ir.mvbbanking.com/corporateprofile
Company Research Source: Yahoo! Finance
holding company for MVB Bank, Inc. (the "Bank"), today announced the implementation of an investment securities repositioning strategy that included the sale of approximately $73 million in book value of available-for-sale investment securities. The securities sold had a weighted-average tax-equivalent yield of 1.70% and a weighted-average life of approximately 9.6 years. The investment securities sold included $49 million of municipal securities, $15 million of U.S. sponsored mortgage-backed securities and $9 million of U.S. government agency securities. The sale resulted in a pre-tax loss of approximately $7.6 million, which will be recognized in the Company's third quarter 2025 financial results. The Bank expects to redeploy proceeds into higher-yielding securities that align with the Company's current risk and asset/liability management objectives. From Larry F. Mazza, President and Chief Executive Officer, MVB Financial: "This repositioning accelerates our path to stronger Show less Read more
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