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DISCONTINUED OPERATIONS
 12 Months Ended
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
On June 30, 2016, the Company entered into an Asset Purchase Agreement with USI, in which USI purchased substantially all of the assets and assumed certain liabilities of MVB Insurance, which resulted in a pre-tax gain of $6.9 million. MVB Insurance retained the assets related to, and continues to operate, its title insurance business. The title insurance business is immaterial in terms of revenue and the Company has reorganized MVB Insurance as a subsidiary of the Bank. The Company retained approximately $424 thousand in liabilities and received proceeds totaling $7.0 million related to this transaction.

Based on a measurement period that ended June 30, 2019, the Company earned and was reasonably assured to receive an estimated earn-out payment of $600 thousand related to the Asset Purchase Agreement with USI. This estimate was recorded as contingent consideration from discontinued operations. On August 27, 2019, the Company adjusted the estimate recorded in the second quarter of 2019 to match the earn-out payment received of $575 thousand.

There were no assets and liabilities of discontinued operations as of December 31, 2019 or 2018.

Net income from discontinued operations, net of tax, for the years ended December 31, 2019, 2018, and 2017, were as follows:
(Dollars in thousands)201920182017
NONINTEREST INCOME
     Other operating income575  —  —  
     Total noninterest income575  —  —  
Income from discontinued operations, before income taxes575  —  —  
Income tax expense - discontinued operations148  —  —  
Net Income from discontinued operations$427  $—  $—