MVB Bank will assume approximately $69 million of deposits and $17 million of loans and increase its market footprint from three branches in West Virginia’s Eastern Panhandle to five in Berkeley and Jefferson counties.
Larry F. Mazza, CEO, MVB Financial Corp said: "This strategic acquisition in the Eastern Panhandle strengthens our presence in the area and provides more opportunities to bring our relationship philosophy to our full spectrum of financial services including banking, mortgage, insurance and wealth management services to serve clients in the market.
"We welcome our new team members on board to continue to provide our clients with the best possible service experience. Their strong relationships are perfectly aligned with our philosophy of being a trusted partner for our clients."
The acquisition, which was announced in May 2015, includes two branches in Berkeley County, West Virginia (704 Foxcroft Avenue in Martinsburg, West Virginia, and 5091 Gerrardstown Road in Inwood, West Virginia). This acquisition represents the third and fourth new branch locations MVB Bank has opened in 2015, increasing the bank’s footprint to 12 locations in West Virginia.
