Dec 23 - MVB Financial Corp. has elected Stephen R. Brooks chairman of the board of directors, succeeding long-time and founding Chairman James R. "Dick" Martin, and elected David B. Alvarez, as vice chairman, succeeding Brooks in that capacity. Also, two other directors, Louis Spatafore and Berniece D. Collis, have announced their retirements from the board. These non-executive appointments were effective on Dec. 19, 2013, while the director retirements were effective on various dates from Dec. 17, 2013, through Jan. 1, 2014.
"On behalf of our entire board and organization, I am grateful to our retiring board members Louis Spatafore and Berniece Collis for their many years of service. We owe a special thank you to Dick Martin for his service and leadership in establishing a solid foundation for MVB as its founder and first executive leader," said Larry F. Mazza, CEO, MVB Financial Corp. "Dick's stewardship has been integral to our growth during these past 15 years."
Mazza continued, "We are very fortunate to have the depth of leadership on MVB's board to have both current directors Stephen Brooks and David Alvarez stepping up to lead our governing body. They have been active board leaders who are dedicated to our 'growth with quality' strategy and have earned the confidence of their peers and investors in MVB."
Brooks, who maintains a law practice as a member of Flaherty Sensabaugh Bonasso, PLLC, has served MVB as a director since 1998. Throughout his tenure he also served in many leadership positions, including a previous term as chairman and, as vice chairman since 2009.
"It is an honor to serve MVB in this leadership capacity and to have been associated with MVB since its inception," Brooks said. "I am pleased to be in a position to continue to provide stewardship to MVB as we continue our strategy of measured growth."
Alvarez was elected to the MVB Financial Corp. board of directors in May of this year after previously serving MVB Bank on its central board. He is president of MEC Construction, LLC and serves as a member of the West Virginia University Board of Governors.
About MVB Financial Corp.
MVB Financial Corp. (OTCQB: MVBF) was formed on Jan. 1, 2004, as a bank holding company and, effective Dec. 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.