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MVB Financial Corp. (NASDAQ:MVBF) ("MVB Financial," "MVB" or the "Company"), the 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.
Posted In: MVBF
