MVB Financial Corp. has completed the sale of substantially all assets and operations of Victor Technologies, Inc. to Jack Henry & Associates, effective September 30, 2025. Victor, a fintech company founded in 2021 and incubated within MVB, processes billions of dollars in payments monthly. The transaction is expected to generate a pre-tax gain of approximately $33 million for MVB and is anticipated to improve its earnings per share through a more efficient cost structure and lower overhead. MVB will maintain a strategic partnership with Victor and Jack Henry, enabling continued participation in Victor's growth and ongoing provision of embedded payment solutions to customers.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. MVB Financial Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001277902-25-000182), on October 03, 2025, and is solely responsible for the information contained therein.