NiSource Executive Jimmy D. Staton Joins MVB Financial Corp. Board of
FAIRMONT, W.Va., June 24, 2013
FAIRMONT, W.Va., June 24, 2013 /PRNewswire/ -- The Board of Directors of MVB
Financial Corp. (OTCQB: MVBF) today announced the appointment of NiSource
executive Jimmy D. Staton as a director of its Board. Mr. Staton will serve
as a Member on the Board's Human Resources & Compensation Committee of MVB
Financial Corp, and also as a Member of the Board of Directors for its
subsidiary, MVB Bank, Inc.
Mr.StatonisExecutive Vice President of NiSource and Group CEO for Columbia
Pipeline Group Gasbasedin Houston, Texas and Charleston, West Virginia.In
this role, he oversees all commercial, regulatory, operations, and project
development and is responsible for execution of the business growth
strategies. Mr. Staton is a member of NiSource's executive management council,
joining NiSource in March of 2008 after serving in a variety of senior
executive positions in the energy industry, including Dominion Resources,
Inc., Consolidated Natural Gas Company and CNG Transmission Corporation.
"We are pleased to have the caliber of executive management experience that
Jimmy Staton will add to our Board," said Larry Mazza, CEO of MVB Financial
Corp. "Jimmy's accomplishments in the energy industry will also help us to
further understand and serve an industry that is so vital to the economies of
the markets we serve."
Mr. Staton's Board term is subject to the approval of the shareholders of MVB
at the next 2014 annual meeting.
About MVB Financial Corp.
MVB Financial Corp. ("MVB Financial"; OTCQB: MVBF) was formed on January 1,
2004 as a bank holding company and, effective December 19, 2012, elected to
become a financial holding company. MVB Financial features multiple
subsidiaries and affiliated businesses, including MVB Bank, Inc., Potomac
Mortgage Group, Inc., and MVB Insurance, LLC. The Company's principal
executive offices are located at 301 Virginia Avenue, Fairmont, W.Va.,
26554-2777, and its telephone number is (304) 363-4800.For additional
information regarding MVBF visit ir.mvbbanking.com.The OTCQB is a market tier
operated by the OTC Market Group Inc., for over-the-counter traded companies
that are current in their reporting with a U.S. regulator.
All statements other than statements of historical fact included herein are,
or may be deemed to be, forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21 E of the Securities
Exchange Act of 1934. Such information involves risks and uncertainties that
could result in MVB Financial Corp.'s (the "Company's") actual results
differing from those projected in the forward-looking statements. Important
factors that could cause actual results to differ materially from those
discussed in such forward-looking statements include, but are not limited to:
(i) the Company may incur loan losses due to negative credit quality trends in
the future that may lead to deterioration of asset quality; (ii) the Company
may incur increased charge-offs in the future; (iii) the Company could have
adverse legal actions of a material nature; (iv) the Company may face
competitive loss of customers; (v) the Company may be unable to manage its
expense levels; (vi) the Company may have difficulty retaining key employees;
(vii) changes in the interest rate environment may have results on the
Company's operations materially different from those anticipated by the
Company's market risk management functions; (viii) changes in general economic
conditions and increased competition could adversely affect the Company's
operating results; (ix) changes in other regulations and government policies
affecting bank holding companies and their subsidiaries including changes in
monetary policies may negatively impact the Company's operating results; (x)
the effects of the Dodd-Frank Wall Street Reform and Consumer Protection Act
may adversely affect the Company; (xi) the risk that the benefits from the
acquisition of Potomac Mortgage Group, LLC, now Potomac Mortgage Group, Inc.
("PMG") may not be fully realized or may take longer to realize than expected,
including as a result of changes in general economic and market conditions,
interest and exchange rates, monetary policy, laws and regulations and their
enforcement and the degree of competition in the geographic and business areas
in which MVB Bank, Inc. ("MVB Bank") and PMG operate; (xii) the reaction of
the companies' customers, employees and counterparties to the acquisition;
(xiii) the integration of the operations of MVB Bank and PMG may be more
difficult, costly or time-consuming than expected; (xiv) diversion of
management time on acquisition-related issues; and, (xv) other factors which
could cause actual results to differ materially from future results expressed
or implied by such forward-looking statements.
SOURCE MVB Financial Corp.
Contact: Lisa Wanstreet, Investor Relations, 304.367.8697, or Aly Goodwin
Gregg, Media, 304.285.0002
Press spacebar to pause and continue. Press esc to stop.