MVB Financial welcomes Cheryl Spielman to its Board of Directors alongside David Alvarez as Chairman

– USA, VA –  MVB Financial Corp. (Nasdaq: MVBF) today announced that its Board of Directors has elected David B. Alvarez as Chairman of the Board and has announced the appointment of Cheryl Spielman as a Member of the Board.

“I welcome Cheryl to the MVB Financial Corp. family and look forward to working with her as a trusted partner to help propel MVB on its growth journey,” said Larry F. Mazza, President, and CEO, MVB Financial Corp. “Her strong background and previous board experience will assist MVB as we continue to expand geographically and in complexity on the financial frontier.”

Alvarez had served as Interim Chairman since August 2018, following the death of former Chairman Stephen R. Brooks.

“I am following on the heels of a great chairman who helped lead MVB to Nasdaq. My greatest responsibility is to continue to build shareholder value and support our client-driven team members,” Alvarez said.

About David Alvarez

Alvarez is a recognized owner, business leader and established entrepreneur who remains active in development, industry and community work. He earned a Bachelor of Science in Business Administration degree from West Virginia University. Early in his career, he was instrumental in growing the family’s business into a well-respected company, primarily serving the North Eastern natural gas markets and bridge construction throughout West Virginia. Alvarez has started and grown a number of successful companies that continue to benefit North Central West Virginia, Southwestern Pennsylvania, and Northern Virginia.

He presently is Vice Chair of the West Virginia University Board of Governors and a member of the Richmond Federal Reserve Industry Roundtable. He also serves on the Boards of the Harrison County Development Authority and Med brook Children’s Charity.

About Cheryl Spielman

A former partner for Ernst & Young, Cheryl Spielman is an experienced global human capital tax partner and consultant. She led high impact global human resources consulting teams to deliver client-focused global human resources and tax services. She has a strong background in human resources and tax risk management and employment-related issues. Spielman has been a personal consultant and advisor to CEOs in various industries, including financial services, consumer products, and entertainment. She has a great deal of financial experience with an audit background. Upon retirement from Ernst & Young, she served on the Board of Directors of IPM, a privately held technology systems integration company, which sold in 2017. From 2017 to 2019, she served as a member of the Board of Directors of First Republic Bank, which is headquartered in California.

Spielman was a partner at Ernst & Young U.S., LLP from 1997-2015, where she led the Human Capital Financial Services practice. From 1989 to 1996, she was an executive with the firm. Previously, she was a tax professional at Arthur Young & Company. She is a trustee of the Cornell University Hillel Board and the Women’s Foundation of South Palm Beach County, a board member of the Koby Mandel Foundation and serves on the Board of Governors and is Vice President of the Polo Club of Boca Raton, Fla. She earned a Bachelor of Science degree in 1977 from Cornell University and an M.B.A. in 1980 from the University of Chicago. She is also a Certified Public Accountant. She resides in Delray Beach, Fla.

About MVB Financial Corp.

MVB Financial Corp., the holding company of MVB Bank, is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.” Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information, and public company services. Through its subsidiary, MVB Bank, Inc., and the bank’s subsidiaries, MVB Mortgage, and MVB Community Development Corporation, the company provides financial services to individuals and corporate clients in the Mid-Atlantic region.

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