Divestitures

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Divestitures

Note 13 – Divestitures

Victor Technologies, Inc.

During the quarter ended September 30, 2025, the Board of Directors and Finance Committee approved a plan to sell substantially all the assets and operations of Victor. On September 30, 2025, we executed an asset purchase agreement to sell substantially all assets and operations of Victor. During the quarter ended September 30, 2025, we recorded a $34.1 million pre-tax gain associated with the sale of Victor that is included in gain on divestiture activity in the consolidated statement of income. We will continue to offer certain customers the account functionality through Victor through an agreement with Jack Henry. The transaction does not meet the criteria for discontinued operations, because the sale of Victor does not represent a strategic shift that will have a major effect on our operations and financial results.

Trabian Technology, Inc.

As of December 31, 2024, the Bank owned an 80.8% interest in Trabian and consolidated 100% of Trabian within the consolidated financial statements. In December 2024, the Board of Directors and Finance Committee approved a plan to sell the Bank's controlling interest in Trabian. As such, Trabian's assets, including $1.6 million of goodwill, and liabilities were classified as held-for-sale on the consolidated balance sheet as of December 31, 2024. In January 2025, we entered into a stock repurchase agreement with Trabian in which Trabian repurchased all the shares held by us for $3.5 million. As a result of the transaction, we recognized a gain of $0.6 million for the nine months ended September 30, 2025.

The following table presents the major classes of assets and liabilities held-for-sale:


(Dollars in thousands)	September 30, 2025		December 31, 2024
Premises and equipment, net	$	—	$	33
Accrued interest receivable and other assets	—		2,245
Total assets held-for-sale	$	—	$	2,278

Accrued interest payable and other liabilities	$	—	$	720
Total liabilities held-for-sale	$	—	$	720

- Definition

The entire disclosure for business combination.

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+ Details

MVB FINANCIAL CORP 10-Q