FAIRMONT, W.Va. & RALEIGH, N.C.–(BUSINESS WIRE)–MVB Financial Corp. and Integrated Financial Holdings, Inc., jointly announced today that each has received shareholder approval of the Agreement and Plan of Merger and Reorganization, dated as of August 12, 2022 (the “Merger Agreement”), by and between MVB and IFHI, and the transactions contemplated thereby, including the merger of IFHI with and into MVB, with MVB as the surviving company. The merger, which was announced on August 12, 2022, is expected to close in the first quarter of 2023, subject to satisfaction of customary closing conditions and receipt of necessary regulatory approvals.
“We are pleased that our shareholders recognize the opportunity this merger achieves, as this is an example of how at MVB we strive to create value for our shareholders. Together we become a national leader in government guaranteed lending, specifically SBA and USDA lending. Both strong companies on our own and even better together, IFH and MVB have an excellent cultural fit and shared strategic focus,” said Larry F. Mazza, CEO, MVB Financial.
“We appreciate the vote of confidence from our shareholders in our strategic combination with MVB,” said Marc McConnell, Chairman, President and CEO of IFHI. “As a combined entity, we believe we will be in an even stronger position to deliver value to our shareholders and to continue our focus on becoming an industry leader in government guaranteed lending.”
About MVB Financial Corp.
MVB Financial Corp. (“MVB Financial” or “MVB”), the innovative financial holding company of MVB Bank, Inc., is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.” Through its subsidiary, MVB Bank, Inc., (“MVB Bank”) and the bank’s subsidiaries, MVB provides services to individuals and corporate clients in the Mid-Atlantic region, as well as to Fintech, Payment and Gaming clients throughout the United States. For more information about MVB, please visit ir.mvbbanking.com.
About Integrated Financial Holdings, Inc.
Integrated Financial Holdings, Inc., is a financial holding company based in Raleigh, N.C. IFHI is the holding company for West Town Bank & Trust, an Ill. state-chartered bank. West Town Bank & Trust provides banking services through its full-service office located in the greater Chicago area. IFHI is also the parent company of Windsor Advantage, LLC, a loan service provider that offers community banks and credit unions a comprehensive outsourced U.S. Small Business Association (“SBA”) 7(a) and U.S. Department of Agriculture (“USDA”) lending platform. IFHI is registered with and supervised by the Federal Reserve. West Town Bank & Trust’s primary regulators are the Illinois Department of Financial and Professional Regulation and the FDIC. For more information, visit https://ifhinc.com/.
