MVB Financial plans to use Paladin Group to advise its bank and a number of its fintech clients.
First State Bank, which the FDIC sold to MVB Financial, had struggled with profitability and capital levels for several years.
MVB in West Virginia will gain a 47% stake in the partnership in exchange for contributing its mortgage unit's assets to the new company.
The move will allow MVB to devote more resources to Northern Virginia and its fintech business.
United Bankshares in West Virginia was willing to pay a healthy premium for Carolina Financial, one of a dwindling number of available banks with more than $4 billion in assets.
The company will pay $1.1 billion for Carolina Financial in Charleston, S.C., in a deal that will add nearly $5 billion in assets.
The company will pay $29 million for Cornerstone Financial Services.
