MVB FINANCIAL CORP Earnings Per Share Disclosure
| For the years ended | ||||||||||||||||||||
| December 31, | ||||||||||||||||||||
| (Dollars in thousands except shares and per share data) | 2024 | 2023 | 2022 | |||||||||||||||||
| Numerator for earnings per share: | ||||||||||||||||||||
| Net income from continuing operations | $ | 20,245 | $ | 22,224 | $ | 11,734 | ||||||||||||||
| Net (income) loss attributable to noncontrolling interest | (154) | 226 | 660 | |||||||||||||||||
| Net income available to common shareholders from continuing operations | 20,091 | 22,450 | 12,394 | |||||||||||||||||
| Net income from discontinued operations available to common shareholders - basic and diluted | — | 8,782 | 2,653 | |||||||||||||||||
| Net income available to common shareholders | $ | 20,091 | $ | 31,232 | $ | 15,047 | ||||||||||||||
| Denominator: | ||||||||||||||||||||
| Weighted-average shares outstanding - basic | 12,890,161 | 12,694,206 | 12,279,462 | |||||||||||||||||
| Effect of dilutive stock options and restricted stock units | 246,597 | 303,126 | 591,272 | |||||||||||||||||
| Weighted-average shares outstanding - diluted | 13,136,758 | 12,997,332 | 12,870,734 | |||||||||||||||||
| Earnings per share from continuing operations - basic | $ | 1.56 | $ | 1.77 | $ | 1.01 | ||||||||||||||
| Earnings per share from discontinued operations - basic | $ | — | $ | 0.69 | $ | 0.22 | ||||||||||||||
| Earnings per common share - basic | $ | 1.56 | $ | 2.46 | $ | 1.23 | ||||||||||||||
| Earnings per share from continuing operations - diluted | $ | 1.53 | $ | 1.72 | $ | 0.96 | ||||||||||||||
| Earnings per share from discontinued operations - diluted | $ | — | $ | 0.68 | $ | 0.21 | ||||||||||||||
| Earnings per common share - diluted | $ | 1.53 | $ | 2.40 | $ | 1.17 | ||||||||||||||
| Instruments not included in the computation of diluted EPS because the effect would be antidilutive | 136,701 | 364,105 | 113,427 | |||||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.