FAIRMONT, W.Va.--(BUSINESS WIRE)--MVB Financial Corp. (Nasdaq: MVBF), the holding company for MVB Bank, Inc., announced today Paladin, LLC has joined the MVB family through its acquisition by a wholly-owned subsidiary of MVB Bank. The move further differentiates MVB’s expanding Fintech vertical with its commitment to fraud prevention.
Founded by a group of insider industry experts who knew what fraud prevention can and should be, Paladin offers an extensive and customizable suite of services for merchants, credit agencies, Fintechs and vendors. Paladin strategizes for the long game, helping clients and partners defend against today’s threats—and tomorrow’s. Paladin places special focus on education and training, arming these types of organizations with the insight they need to stay on top.
“Paladin Group, a respected leader in the fraud prevention industry, has formed a specialty niche that aligns well with MVB as the preferred bank for Fintech companies. This acquisition is another creative way that MVB is turning an expense into a profit center to the benefit of our shareholders,” said Larry F. Mazza, President and CEO, MVB Financial Corp. “We are pleased to have Jim Houlihan and Jamon Whitehead as trusted partners on the financial frontier and as members of the MVB family. Together, we are committed to the success of our clients and to helping prevent fraud in today’s world where both threats and tools evolve at a fast pace.”
Paladin will retain the Paladin name and mission and will operate as a wholly owned subsidiary of MVB Bank. Jim Houlihan and Jamon Whitehead will remain as Chairman and President of Paladin. As a stand-alone subsidiary of MVB Bank, Paladin will expand its services to both MVB Bank and its Fintech clients.
“We are extremely excited to join the MVB family,” said Houlihan. “We feel strongly that MVB and Paladin’s core values and principles align. The future is bright for MVB and Paladin as we forge ahead in growth via trusted partnering. The relationship with MVB will allow us to continue to support our existing and future clients in the fight against fraud.”
Squire Patton Boggs (US) LLP provided legal representation to MVB.
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.”
MVB is a financial holding company headquartered in Fairmont, W.Va. Through its subsidiary, MVB Bank, Inc., and the bank’s subsidiaries, MVB Mortgage, the MVB Community Development Corporation, Chartwell Compliance and Paladin Fraud, the company provides financial services to individuals and corporate clients in the Mid-Atlantic region and beyond.
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For more information about MVB, please visit ir.mvbbanking.com.
