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MVB Exhibit 99.1 FINANCIAL NEWSRELEASE MEDIA CONTACT Amy Baker VP , Corporate Communications and Marketing MVB Bank abaker@mvbbanking.com ( 844 ) 682-2265 Growth in Noninterest - Bearing Deposits and Loans Drive Earnings Above Expectations ( FAIRMONT , WV ) July 29 , 2021 - MVB Financial Corp. ( NASDAQ : MVBF ) ( “ MVB Financial , " " MVB " or the " Company " ) today reported net income of $ 9.2 million , or $ 0.79 basic and $ 0.73 diluted earnings per share for the three months ended June 30 , 2021 . Net income Earnings per share - basic Earnings per share - diluted 2021 Quarterly 2021 Year - to - Date 2020 2021 2020 Second Quarter First Quarter Second Quarter $ $ 9,247 $ 0.79 $ 8,085 0.70 $ $ 18,034 $ 1.50 $ $ 0.73 $ 0.66 $ 1.49 $ 17,332 $ 1.49 $ 1.39 $ 19,082 1.58 1.55 Our earnings for the second quarter were impacted by the release of allowance for loan losses of $ 1.5 million and costs related to acquisition and divestiture activity of $ 0.4 million . The after - tax impact of these items on a basic per share basis was $ 0.11 and $ ( 0.03 ) , respectively , and was $ 0.10 and $ ( 0.03 ) on a diluted per share basis , respectively , for the three months ended June 30 , 2021 . SECOND QUARTER 2021 HIGHLIGHTS © • Financial technology ( " Fintech ” ) and gaming initiatives drive continued transformation of MVB's core funding profile Noninterest - bearing ( " NIB " ) deposits were $ 932.7 million as of June 30 , 2021 , an increase of $ 95.4 million , or 11 % , from March 31 , 2021 , and an increase of $ 404.1 million , or 76 % , from June 30 , 2020. NIB deposits as a percentage of total deposits were 41.8 % as of June 30 , 2021 , compared to 37.8 % as of March 31 , 2021 and 28.4 % as of June 30 , 2020 . 0 With the Company's ever - expanding Banking - as - a - Service ( " BaaS " ) platform , MVB became the 18th largest bank in the United States based on the number of customer accounts . 0 Fintech deposits totaled $ 765.9 million as of June 30 , 2021 , an increase of $ 21.3 million , or 3 % , 1