BVFL

Shares of BV Financial, Inc. BVFL have declined 0.1% since the company reported its earnings for the quarter ended June 30, 2026. This compares to the S&P 500 index’s 0.5% growth over the same time frame. Over the past month, the stock has declined 3.7% compared with the S&P 500’s 1.4% decrease. BV Financial reported second-quarter 2026 adjusted net income of 47 cents per share, which increased from 37 cents per share recorded in the year-ago quarter. Net interest income increased to $9.5 million from $9.2 million in the prior-year quarter, supported by higher yields on interest-earning assets and lower interest expense. The company reported net income of $3.5 million compared with $2.9 million in the year-ago quarter. Adjusted net income, excluding certain items, was $3.9 million compared with $3.7 million in the second quarter of 2025. BV Financial, Inc. price-consensus-eps-surprise-chart | BV Financial, Inc. Quote BV Financial’s net interest margin improved to 4.58% in the second quarter of 2026 from 4.36% in the prior-year period. The company said the improvement reflected higher yields on interest-earning assets and reduced interest expense following the repayment of Federal Home Loan Bank borrowings. Total interest income was $12.2 million compared with $12.3 million a year ago, while total interest expense declined to $2.7 million from $3.1 million. As a result, net interest income increased to $9.5 million from $9.2 million. The company’s loan portfolio contracted during the quarter. Net loans stood at $711.6 million at June 30, 2026, down 5.9% from $754.9 million at Dec. 31, 2025. The decline was primarily driven by reductions in construction and land loans, commercial investor real estate loans and commercial loans. Deposits remained largely stable at $675.9 million compared with $676.1 million at the end of 2025. BV Financial’s noninterest income declined to $0.5 million from $0.7 million in the prior-year quarter. The decrease was primarily due to a $0.1 million write-down of a former branch location and lower miscellaneous fees from loans and deposits. Meanwhile, noninterest expense decreased to $5.5 million from $5.8 million, helped by lower compensation and benefits costs. Compensation expense declined by $0.5 million due to lower staffing levels and reduced expenses related to the 2024 Equity Plan. The company’s efficiency ratio improved to 54.87% from 58.30% a year ago, reflecting better expense management. Return on average assets increased to 1.54% from 1.26%, while return on average equity improved to 7.56% from 5.78%. Asset quality metrics showed some deterioration during the quarter. Non-accrual loans increased to $3.4 million at June 30, 2026, from $2.3 million at Dec. 31, 2025. Non-performing loans represented 0.48% of total loans, compared with 0.58% a year ago. The allowance for credit losses on loans totaled $6.2 million, representing 0.87% of total loans and 182.1% of non-performing loans. The company recorded a reversal of provision for credit losses of $0.2 million in the second quarter, compared with a provision expense of $0.2 million in the year-ago period. BV Financial also increased liquidity during the quarter, with cash and cash equivalents rising to $68.9 million from $55.7 million at Dec. 31, 2025. Management highlighted the benefit of stronger asset yields and reduced borrowing costs during the quarter. The company repaid all $35 million of Federal Home Loan Bank borrowings outstanding at the end of the first quarter, resulting in a $0.3 million reduction in interest expense. BV Financial continued returning capital to shareholders during the quarter. The company repurchased 230,000 shares of common stock at an average price of $20.03, contributing to a decline in shares outstanding and supporting per-share metrics. The company continued operating through BayVanguard Bank, a community-focused financial institution headquartered in Baltimore, Maryland, with 12 branches serving the Baltimore metropolitan area and the Eastern Shore of Maryland. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BV Financial, Inc. (BVFL): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

BALTIMORE, MD / ACCESS Newswire / July 24, 2026 / BV Financial, Inc. (NASDAQ:BVFL), the holding company for BayVanguard Bank (the "Bank"), today reported net income of $3.5 million, or $0.42 per diluted share, for the quarter ended June 30, 2026 compared to net income of $2.9 million, or $0.29 per diluted share, for the quarter ended June 30, 2025. Net income for the six-month period ended June 30, 2026 was $4.6 million or $0.55 per diluted share compared to net income of $5.0 million or $0.50 per diluted share for the six-month period ended June 30, 2025. Adjusted net income, a non-GAAP financial metric, was $3.9 million or $0.47 per diluted share and $3.7 or $0.37 per diluted share million for the quarters ended June 30, 2026 and 2025 and $7.1 million or $0.86 per diluted share and $6.7 million or $0.67 per diluted share for the year to date periods ended June 30, 2026 and 2025, respectively. For a reconciliation of net income as reported and Non-GAAP adjusted net income, see the table below. Additionally, management refers to another non-GAAP metric called Operating Pre-Provision Net revenue (OPPNR) to monitor the Company's financial results. This metric excludes the expense, or reversal of the expense for the provision for credit losses as well as changes in the effective tax rate. Since the adoption of ASC 326 (CECL) in January 2023, the provision line item on the income statement has been extremely volatile, making this metric more meaningful. OPPNR was $5.2 million or $0.63 per diluted share for the three months ended June 30, 2026 compared to $5.4 million or $0.54 per diluted share for the three months ended June 30, 2025. OPPNR was $10.1 million or $1.22 per diluted share in the six-months ended June 30, 2026 compared to $9.6 million or $0.97 per diluted share in the six months ended June 30, 2025. For a reconciliation of net income as reported and Non-GAAP OPPNR, see the table below. Financial Highlights Return on average assets and return on average equity for the three months ended June 30, 2026 was 1.54% and 7.56%, respectively. Net loans decreased $44.3 million or 5.9% to $711.6 million compared to $754.9 million at December 31, 2025. Deposits decreased $0.2 million or -0.03% from $676.1 million at December 31, 2025 to $675.9 million at June 30, 2026. All $35.0 million in borrowings from the Federal Home Loan Bank of Atlanta "FHLB" that were outstanding at March 31, 2026 were paid off in the quarter. This pay-off resulted in a gain (decrease in interest expense) of $0.3 million. Non-accrual loans increased $1.1 million to $3.4 million at June 30, 2026 from $2.3 million at December 31, 2025.. The Company recorded reversals in the provisions for credit losses of $216,000 for the three months ended June 30, 2026 and $227,000 for the six months ended June 30, 2026. During the quarter ended June 30, 2026, the Company repurchased 230,000 shares of its outstanding common stock at an average price of $20.03. FINANCIAL CONDITION DISCUSSION Total Assets. Total assets were $877.9 million at June 30, 2026, a decrease of $34.3 million, or -3.76%, from $912.2 million at December 31, 2025. The decrease was due primarily to the Company utilizing cash resulting from shrinkage of the loan portfolio to repay $35.0 million in borrowings from the FHLB. Cash and Cash Equivalents. Cash and cash equivalents increased $13.2 million, or 23.7%, to $68.9 million at June 30, 2026 from $55.7 millionat December 31, 2025. The increase in cash is primarily a result of loan pay-offs exceeding the pay-off of the FHLB borrowings. Loans Receivable. Loans receivable decreased $44.3 million, or 5.9%, to $710.6 million at June 30,2026 from $754.9 million at December 31, 2025. The largest decreases in the portfolio occurred in the construction & land ($12.6 million), commercial investor real estate ($10.6 million) and commercial ($10.4 million). Securities. Securities available for sale decreased by $1.0 million or 3.0% from December 31, 2025 as paydowns in the mortgage-backed securities were not replaced with new purchases. The held-to-maturity portfolio experienced a slight decrease due to paydowns. Federal Home Loan Bank Stock Federal Home Loan Bank of Atlanta stock decreased $1.7 million or 71.6% as a result of the advance pay-off reducing the required ownership amount. Total Liabilities. Total liabilities decreased $33.6 million or -4.6%, to $694.7million at June 30,2026 from $728.4million at December 31, 2025. The decrease was due primarily to the decrease in borrowings. Deposits. Total deposits decreased $0.2 million, or -0.03% to $675.9 million at June 30, 2026 from $676.1 million at December 31, 2025. Interest-bearing deposits were flat at $138.4 million. Noninterest bearingdeposits decreased $0.2 million, or -0.03%, to $537.5 millionat June 30, 2026 from $537.7 million at December 31, 2025. Stockholders' Equity. Stockholders' equity decreased $0.6 million, or -0.33%, to $183.2 millionat June 30, 2026 from $183.8 million at December 31, 2025 as net income and the impact of earned stock compensation was offset by $6.6 million in stock repurchases during the period. RESULTS OF OPERATION DISCUSSION Net Income. Net income was $3.5 million or $0.42 per diluted share for the three months ended June 30, 2026 compared to $2.9 million or $0.29 per diluted share for the three months ended June 30, 2025. Net income was $4.6 million or $0.55 per diluted share for the six months ended June 30, 2026 compared to $5.0 million or $0.50 per diluted share for the six months ended June 30, 2025. The decrease in income for the year to date period is due to the $2.2 million first quarter executive transition expense and the related tax impact. Net Interest Income. Net interest income was $9.5 million for the three months ended June 30, 2026 compared to $9.2 million for the three months ended June 30, 2025.The net interest margin for the three months ended June 30, 2026 was 4.58% compared to 4.36% for the three months ended June 30, 2025. The increase in net interest income was primarily due to higher yields on interest earning assets and lower interest expense due to the pay-offs of borrowings. Net interest income was $18.6 million for the six months ended June 30, 2026, compared to $17.8 million in the six months ended June 30, 2025. The net interest margin for the six months ended June 30, 2026 was 4.47% compared to 4.24% for the six months ended June 30, 2025. The increase in net interest income was primarily due to higher yields earned on loans and lower interest expense due to the pay-off of the FHLB borrowings in 2026 and the pay-off of the subordinated debentures in December 2025. Noninterest Income. For the three months ended June 30, 2026, noninterest income totaled approximately $467,000 compared to $714,000 for the quarter ended June 30, 2025. The decrease is attributable to the $135,000 write-down of a former branch location to estimated sales proceeds and lower miscellaneous fees on loans and deposits. For the six months ended June 30, 2026 noninterest income totaled $1.0 million compared to $1.2 million for the six months ended and June 30, 2025. The decrease is due to lower miscellaneous loan and deposit fees and the write-down of the former branch location. Noninterest Expense. For the three months ended June 30, 2026, noninterest expense totaled $5.5 million compared to $5.8 million in the three months ended June 30, 2025. Decreases in compensation and benefits of $506,000 due lower staffing and lower expenses of the 2024 Equity plan offset increases in other categories. Occupancy expense increased by $97,000 primarily due to costs of repairing a branch location after a major water leak. Professional fees increased due to higher legal expenses, data processing expense increased due to new product implementation fees and other expenses increased due to higher loan related expenses. For the six months ended June 30, 2026, noninterest expense totaled $13.1 million as compared to $11.9 million in the six months ended June 30, 2025. Compensation and benefits expense increased $0.7 million due to the $2.2 million cost of the executive transition in the first quarter somewhat offset by lower staffing and lower costs of the 2024 Equity plan. Occupancy expense increased by $109,000 due to the branch repair costs noted above and higher heating bills in the first quarter. Adjusting for expenses related to the 2024 Equity Plan and executive transition, non-interest expense for the six months ended June 30, 2026 increased 0.8% to $9.68 million, compared with $9.60 million for the six months ended June 30, 2025. Asset Quality. Non-performing assets at June 30, 2026 totaled $3.4 million, of which all are nonperforming loans, compared to $2.3 million at December 31, 2025, also all of which are nonperforming loans. At June 30, 2026, the allowance for credit losses on loans was $6.2 million, which represented 0.87% of total loans and 182.1% of non-performing loans compared to $6.4 million at December 31, 2025, which represented 0.85% of total loans and 284.7% of non-performing loans. Forward-Looking Statements This press release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative and regulatory issues that may impact the Company's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, increased competitive pressures, the effects of inflation, potential recessionary conditions, general economic conditions or conditions within the securities markets, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Department of the Treasury and the Board of Governors of the Federal Reserve Board, the impact of the imposition of tariffs and any retaliatory responses, changes in the quality, size and composition of our loan and securities portfolios, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio, changes in demand for our products and services, accounting and tax changes, deposit flows, real estate values and competition, changes in accounting principles, policies or guidelines, changes in legislation or regulation and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services, the current or anticipated impact of military conflict, terrorism or other geopolitical events, a potential government shutdown, a failure in or breach of our operational or security systems or infrastructure, including cyberattacks that could adversely affect the Company's financial condition and results of operations and the business in which the Company and the Bank are engaged and the failure to maintain current technologies, the failure to retain or attract employees. BV Financial, Inc. is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with twelve branches in the Baltimore metropolitan area and the eastern shore of Maryland. The Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses. Contact: Michael J. DeeChief Financial Officer(410) 477- 5000 BV FINANCIAL, INC.Consolidated Financial Ratios (1) Performance ratios are annualized. (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. (3) Represents net interest income as a percentage of average interest-earning assets. (4) Represents non-interest expenses divided by the sum of net interest income and non-interest income. (5) Represents total equity less goodwill less other intangible assets divided by common shares outstanding. See non-GAAP reconciliation table. BV FINANCIAL, INC.Consolidated Balance Sheets BV FINANCIAL, INC.Consolidated Statements of Income BV FINANCIAL, INC.Average Balance Sheet for the Quarters ended June 30,(Dollars in thousands) BV FINANCIAL, INC.Average Balance Sheet for the Six Months ended June 30,(Dollars in thousands) ALLOWANCE FOR CREDIT LOSS - LOANS(Dollars in thousands) RECONCILIATION TABLE (UNAUDITED)NON-GAAP ADJUSTED NET INCOME Non-GAAP Reconciliation In addition to results presented in accordance with generally accepted accounting principles utilized in the Unites States ("GAAP"), this earnings release contains a non-GAAP financial measure, Non-GAAP adjusted net income. The Company believes this non-GAAP financial measure is useful for both investors and management to understand the effects of certain items and provide an alternative view of its performance over time. Non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for total stockholders' equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. SOURCE: BV Financial, Inc. View the original press release on ACCESS Newswire

Shares of BV Financial, Inc. BVFL have declined 2% since reporting results for the quarter ended March 31, 2026, underperforming the S&P 500 index’s 0.5% change. Over the past month, the stock has moved up 2.6%, lagging the broader market’s 10% return, indicating relatively weaker investor sentiment compared to the benchmark. BV Financial reported net income of 13 cents per share for the March quarter, down roughly 38% from 21 cents per share in the year-ago period. However, adjusted net income rose 13% on a non-GAAP basis to $3.3 million from $2.9 million a year earlier. Net interest income improved 5% to $9.1 million from $8.6 million, driven by a higher net interest margin of 4.36% compared with 4.12% last year. BV Financial reported net income of $1.1 million, down 48% from $2.1 million in the year-ago period. BV Financial, Inc. price-consensus-eps-surprise-chart | BV Financial, Inc. Quote The company’s profitability ratios weakened notably. Return on average assets fell to 0.48% from 0.92%, while return on average equity declined to 2.38% from 4.28%, highlighting reduced efficiency in generating returns. The efficiency ratio deteriorated to 78.82% from 67.36%, indicating higher operating costs relative to income. Balance sheet trends showed contraction in core lending activity. Loans decreased by $19.3 million, or 2.6%, to $735.6 million from the end of December 2025, while deposits edged down 0.4% to $673.5 million. Total assets remained relatively stable at $910.9 million. Cash and cash equivalents rose 33.9% to $74.6 million, reflecting loan paydowns and increased liquidity. Asset quality metrics presented mixed signals. Non-performing loans increased slightly to $2.6 million from $2.3 million at the prior quarter’s end, but remained low as a percentage of total loans at 0.36%. The allowance for credit losses stood at $6.4 million, covering nearly 283% of non-performing loans, indicating a strong reserve position. The primary factor weighing on reported earnings was a $2.2-million executive transition payment tied to the resignation of the former CEO earlier in the year. The one-time expenses significantly increased non-interest expenses, which rose 23% to $7.6 million from $6.2 million. Compensation and benefits expenses alone climbed 27.8% due to this payout. The effective tax rate jumped to 46.8% from 22.2%, driven by the non-deductible portion of the executive payment, compressing net income. Despite these headwinds, underlying operations showed strength through higher net interest income, supported by improved loan yields and lower funding costs after replacing subordinated debt with Federal Home Loan Bank borrowings. The company also recorded a recovery of credit losses of $0.01 million compared with a $0.3 million provision in the prior-year quarter, which provided a modest boost to earnings. Management highlighted continued strength in the net interest margin and spread, which improved to 4.36% and 3.68%, respectively, reflecting effective balance sheet management. The company also returned capital to shareholders through share repurchases, buying back 102,076 shares at an average price of $18.72 during the quarter. A notable development during the quarter was the leadership transition following the resignation of the former CEO, which resulted in a significant one-time payout. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BV Financial, Inc. (BVFL): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

BALTIMORE, MD / ACCESS Newswire / April 24, 2026 / BV Financial, Inc. (NASDAQ:BVFL), (the "Company") the holding company for BayVanguard Bank (the "Bank"), reported net income of $1.1 million or $0.13 per diluted share for the quarter ended March 31, 2026 compared to net income of $2.1 million or $0.21 per diluted share for the quarter ended March 31, 2025. Adjusted net income, a non-GAAP financial metric, was $3.3 million for the quarter ended March 31, 2026 compared to $2.9 million for the quarter ended March 31, 2025. For a reconciliation of net income as reported and non-GAAP adjusted net income, see the table below. Financial Highlights As previously disclosed in a Form 8-K file with the Securities and Exchange Commission, former Co-President & CEO David Flair resigned in January. In connection with his resignation, he received a payment of $2.2 million in the quarter ended March 31, 2026. The Company generated strong net interest margins and net interest spread of 4.36% and 3.68%, respectively in the quarter ended March 31, 2026 compared to 4.12% and 3.37% in the quarter ended March 31, 2025. Share repurchases of 102,076 shares of common stock at a weighted average price of $18.72 were executed in the quarter ended March 31, 2026. Return on average assets and return on average equity for the quarter ended March 31, 2026 were 0.48% and 2.38%, respectively. Return on average assets and return on average equity for the three months ended March 31, 2025 were 0.92% and 4.28%, respectively. Loans decreased $19.3 million, or -2.56% to $735.6 million at March 31, 2026 compared to $754.9 million at December 31, 2025. Deposits decreased $2.6 million, or -0.38%, to $673.5 million at March 31, 2026 from $676.1 million at December 31, 2025. Financial Condition Total Assets. Total assets were $910.9 million at March 31, 2025, a decrease of $1.4 million, or 0.2%, from $912.2 million at December 31, 2025. The decrease was due primarily to the decrease of $19.3 million in loans, partially offset by an increase of $18.9 million in cash and cash equivalents. Cash and Cash Equivalents. Cash and cash equivalents increased $18.9 million, or 33.9%, to $74.6 million at March 31, 2026 from $55.7 million at December 31, 2025. The increase in cash was primarily a result of the pay-downs in loans. Net Loans Receivable. Loans receivable decreased $19.3 million, or 2.6%, to $735.6 million at March 31, 2026 from $754.9 million at December 31, 2025. Real estate loans decreased $11.3 million while consumer and commercial loans decreased $8.0 million. Securities. Securities available for sale decreased by $336,000, or 1.0%, from December 31, 2025 as paydowns and maturities were not fully replaced with new purchases. The held-to-maturity portfolio experienced a slight decrease due to paydowns. Total Liabilities. Total liabilities decreased $1.2 million, or 0.16%, to $727.2 million at March 31, 2026 from $728.4 million at December 31, 2025. The decrease was due primarily to the decrease in deposits offset by an increase in other liabilities. Deposits. Total deposits decreased $2.6 million, or 0.38% to $673.5 million at March 31, 2026 from $676.1 million at December 31, 2025. Interest-bearing deposits decreased $3.5 million, or 0.7%, to $534.2 million at March 31, 2026 from $537.7 million at December 31, 2025. Noninterest bearing deposits increased $1.0 million, or 0.7%, to $139.3 million at March 31, 2026 from $138.4 million at December 31, 2025. Federal Home Loan Bank Borrowings. The Company had $35 million in Federal Home Loan Bank borrowings at March 31, 2026 and December 31, 2025. Stockholders' Equity. Stockholders' equity decreased $167,000, or 0.1%, to $183.6 million at March 31, 2026 from $183.8 million at December 31, 2025 a due to $2.0 million in stock repurchases offset by net income, and the impact of equity compensation plans. Asset Quality. Non-performing loans at March 31, 2026 totaled $2.6 million, compared to $2.3 million at December 31, 2025. The Company had no foreclosed real estate at either period. At March 31, 2026, the allowance for credit losses on loans was $6.4 million, which represented 0.87% of total loans and 282.9% of non-performing loans compared to $6.4 million at December 31, 2025, which represented 0.85% of total loans and 284.72% of non-performing loans. Comparison of Operating Results for the Three Months Ended March 31, 2026 and 2025 Net Income. Net income was $1.1 million, or $0.13 per diluted share, for the quarter ended March 31, 2026 compared to net income of $2.1 million or $0.21 per diluted share, for the quarter ended March 31, 2025. The decrease was primarily due to the previously-noted executive payout, offset by higher net interest income. Net Interest Income. Net interest income was $9.1 million for the three months ended March 31, 2026 compared to $8.6 million for the three months ended March 31, 2025. The net interest margin for the three months ended March 31, 2026 was 4.36% compared to 4.12% for the three months ended March 31, 2025. The increase in net interest income was due primarily to the Bank's utilization of lower cost Federal Home Loan Bank borrowings to replace the $35.0 million in subordinated debt that was paid off in December 2025 and higher rates earned on the loan portfolio, offset by lower yields on other interest-earning assets. Provision for Credit Losses. The Company recorded a recovery of credit losses of $11,000 for the three months ended March 31, 2026 compared to a provision of $297,000 for the three months ended March 31, 2025. Noninterest Income. For the three months ended March 31, 2026, noninterest income totaled approximately $528,000 compared to $530,000 for the quarter ended March 31, 2025. Noninterest Expense. For the three months ended March 31, 2026, noninterest expense totaled $7.6 million compared to $6.2 million for the three months ended March 31, 2025. Compensation and benefits expenses increased $1.3 million, or 27.8% primarily due to the executive payout noted above and regular merit salary increases somewhat offset by lower equity compensation costs of $0.5 million. Other expenses increased $141,000 or 39.6%. Income taxes. For the three months ended March 31, 2026, income tax expense was $961,000 for an effective tax rate of 46.8%. In the quarter ended March 31, 2025, income tax expense was $599,000 for an effective tax rate of 22.2%. The increase in the effective tax rate is primarily attributable to the non-deductible portion of the executive transition payment. Forward-Looking Statements This press release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative and regulatory issues that may impact the Company's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, increased competitive pressures, the effects of inflation, potential recessionary conditions, general economic conditions or conditions within the securities markets, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Department of the Treasury and the Board of Governors of the Federal Reserve Board, the impact of the imposition of tariffs and any retaliatory responses, changes in the quality, size and composition of our loan and securities portfolios, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio, changes in demand for our products and services, accounting and tax changes, deposit flows, real estate values and competition, changes in accounting principles, policies or guidelines, changes in legislation or regulation and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services, the current or anticipated impact of military conflict, terrorism or other geopolitical events, a potential government shutdown, a failure in or breach of our operational or security systems or infrastructure, including cyberattacks that could adversely affect the Company's financial condition and results of operations and the business in which the Company and the Bank are engaged and the failure to maintain current technologies, the failure to retain or attract employees. BV Financial, Inc. BV Financial, Inc. is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with twelve branches in the Baltimore metropolitan area and the eastern shore of Maryland. The Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses. Contact: Michael J. Dee Chief Financial Officer (410) 477- 5000 BV FINANCIAL, INC. Consolidated Financial Ratios (1) Performance ratios are annualized. (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. (3) Represents net interest income as a percentage of average interest-earning assets. (4) Represents non-interest expenses divided by the sum of net interest income and non-interest income. (5) Represents total equity less goodwill less other intangible assets divided by common shares outstanding. See non-GAAP reconciliation table. BV FINANCIAL, INC. Consolidated Balance Sheets BV FINANCIAL, INC. Consolidated Statements of Income BV FINANCIAL, INC. Average Balance Sheet for the Quarters ended March 31, (Dollars in thousands, unaudited) ALLOWANCE FOR CREDIT LOSS - LOANS (Dollars in thousands, unaudited) RECONCILIATION TABLE (UNAUDITED) NON-GAAP ADJUSTED NET INCOME Non-GAAP Reconciliation In addition to results presented in accordance with generally accepted accounting principles utilized in the Unites States ("GAAP"), this earnings release contains a non-GAAP financial measure, Non-GAAP adjusted net income. The Company believes this non-GAAP financial measure is useful for both investors and management to understand the effects of certain items and provide an alternative view of its performance over time. Non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for total stockholders' equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. SOURCE: BV Financial, Inc. View the original press release on ACCESS Newswire

Shares of BV Financial, Inc. BVFL have declined 2% since the company reported its earnings for the quarter ended Dec. 31, 2025. This compares to the S&P 500 index’s 0.9% growth over the same time frame. Over the past month, the stock has gained 3.1% compared with the S&P 500’s 1.4% increase. BV Financial reported a fourth-quarter 2025 net income of 56 cents per share, compared to 18 cents per share in the year-ago period. Net income more than doubled year over year to $4.8 million from $2 million in the year-ago period. Non-GAAP adjusted net income also saw significant growth. For the quarter, it rose to $5.6 million from $2.4 million a year ago. Full-year net income came in at $13.5 million, or $1.43 per share, up from $11.7 million, or $1.10 per share, in 2024. Adjusted net income grew to $16.3 million from $12.9 million, reflecting adjustments for expenses related to the 2024 Equity Incentive Plan. BV Financial, Inc. price-consensus-eps-surprise-chart | BV Financial, Inc. Quote BV Financial reported total assets of $912.2 million as of Dec. 31, 2025, up slightly from $911.8 million the previous year. Net loans increased by $19.2 million, or 2.6%, to $748.5 million, with growth in 1-4 family owner-occupied, construction, and commercial loans offsetting declines in other categories. Total deposits rose by $24.6 million, or 3.8%, to $676.1 million, driven by a 6.7% increase in non-interest-bearing deposits. At the same time, the company repaid $35 million in subordinated debt and replaced it with lower-cost Federal Home Loan Bank advances. BV Financial also executed a substantial stock buyback program, repurchasing 1.8 million shares during 2025 at an average price of $16.23, including 714,555 shares in the fourth quarter alone. On the performance front, the bank's return on average assets (ROAA) and return on average equity (ROAE) improved meaningfully. ROAA for the fourth quarter was 2.1% versus 0.9% a year ago, while ROAE surged to 10.5% from 3.8%. The efficiency ratio improved to 51% in the fourth quarter from 64.3% in the prior-year period, indicating stronger operating leverage. The company’s strategic decisions during the quarter reflect a focus on optimizing its capital structure and cost management. The replacement of subordinated debt with lower-cost advances and the sizable share repurchase program highlight efforts to enhance shareholder value. A key contributor to the earnings beat was a $1.9 million recovery in provision for credit losses in the fourth quarter, reversing a provision of $0.6 million in the year-ago period. For the full year, the recovery totaled $2.4 million. This reversal was attributed to enhancements in the CECL model, including the addition of the Federal Reserve’s unemployment forecast alongside GDP forecasts for credit risk assessment. This change led to a $1 million reduction in required allowance for credit losses (ACL) on loans in the fourth quarter alone. Net interest income also played a pivotal role, rising 8.2% year-over-year in the quarter to $9.8 million, driven by a higher net interest margin of 4.52%, up from 4.34%. The improvement came as asset yields outpaced funding costs. Noninterest income saw a modest increase to $0.8 million in the quarter from $0.6 million a year earlier. Meanwhile, noninterest expense declined 13.4% year over year to $5.4 million, largely due to a drop in compensation and benefits expenses stemming from lower equity award costs under the 2024 Equity Incentive Plan. During the quarter, the company completed a key balance sheet maneuver by retiring its $35 million subordinated debt issued in 2020 in connection with the Delmarva Bancshares acquisition. The debt was replaced by an equivalent amount in lower-cost Federal Home Loan Bank borrowings, which is expected to reduce interest expense going forward. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BV Financial, Inc. (BVFL): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

BALTIMORE, MD / ACCESS Newswire / January 23, 2026 / BV Financial, Inc. ( NASDAQ:BVFL), (the "Company") the holding company for BayVanguard Bank (the "Bank"), reported net income of $13.5 million, or $1.43 per diluted share, for the year ended December 31, 2025 compared to net income of $11.7 million, or $1.10 per diluted share, for the year ended December 31, 2024. Net income for the quarter ended December 31, 2025 was $4.8 million, or $0.57 per diluted share, compared to net income of $2.0 million, or $0.18 per diluted share, for the quarter ended December 31, 2024. Adjusted net income, a non-GAAP financial metric, was $16.3 million and $12.9 million for the years ended December 31, 2025 and 2024, respectively. For the quarters ended December 31, 2025 and 2024, adjusted net income was $5.6 million and $2.4 million, respectively. For a reconciliation of Net Income as reported and non-GAAP adjusted net income, see the reconciliation table contained at the end of this press release. The Company also announced today a transition in executive leadership. Additional information regarding this matter in included in the Company's Form 8-K filed with the Securities and Exchange Commission today. FinancialHighlights Return on average assets and return on average equity for the year ended December 31, 2025 were 1.48% and 7.01%, respectively. Return on average assets and return on average equity for the three months ended December 31, 2025 were 2.09% and 10.45%, respectively. Net loans increased $19.2 million, or 2.6% to $748.5 million at December 31, 2025 compared to $729.2 million at December 31, 2024. Deposits increased $24.6 million, or 3.8%, from $651.5 million at December 31, 2024 to $676.1 million at December 31, 2025. During the quarter ended December 31, 2025, the Company paid off the $35.0 million in subordinated debt issued in 2020 concurrently with the acquisition of Delmarva Bancshares. The Company replaced this borrowing with $35.0 million in lower cost advances from the Federal Home Loan Bank of Atlanta. During the year ended December 31, 2025, the Company repurchased 1,823,997 shares of common stock at an average price of $16.23, including 714,555 shares repurchased during the three months ended December 31, 2025, at an average price of $16.63. During the quarter ended December 31, 2025, the Company recorded a recovery of the provision for credit losses of $1.9 million consisting of a recovery of the provision of $1.8 million in the allowance for credit losses (ACL) - loans and $108,000 in the ACL-unfunded commitments. During the year ended December 31, 2025, the Company recorded a recovery of the provision for credit losses of $2.4 million. Financial Condition Total Assets. Total assets were $912.2 million at December 31, 2025, an increase of $392,000 from $911.8 million at December 31, 2024. The increase was due primarily to a $19.2 million increase in net loans receivable to $748.5 million at December 31, 2025, partially offset by a $14.8 million decrease in cash and cash equivalents and a $4.0 million decrease in securities available for sale. Cash and Cash Equivalents. Cash and cash equivalents decreased $14.8 million, or 21.0%, to $55.7 million at December 31, 2025 from $70.5 million at December 31, 2024 as excess cash was used to fund loans and repay the subordinated debt. Net Loans Receivable. Net loans receivable increased $19.2 million, or 2.6%, to $748.5 million at December 31, 2025 from $729.2 million at December 31, 2024. Increases in 1-4 family owner occupied, construction loans and commercial loans offset decreases in owner occupied commercial real estate loans, commercial investor loans, non-owner occupied 1-4 family loans, farm loans, consumer loans and loans guaranteed by the U.S. Government. Securities. Securities available for sale ("AFS") decreased $4.0 million, or 10.8%, to $33.2 million at December 31, 2025 from $37.3 million at December 31, 2024. Securities held to maturity (HTM) decreased $243,000 or 4.1% to $5.7 million at December 31, 2025. The decreases were due to pay-downs and maturities. Total Liabilities. Total liabilities increased $12.1 million, or 1.7%, to $728.4 million at December 31, 2025 from $716.3 million at December 31, 2024. The increase was primarily due to an increase in deposits of $24.6 million, partially offset by a decrease in borrowings of $14.9 million. Deposits. Total deposits increased $24.6 million, or 3.8%, to $676.1 million at December 31, 2025 from $651.5 million at December 31, 2024. Interest-bearing deposits increased $16.0 million, or 3.1%, to $537.7 million at December 31, 2025 from $521.8 million at December 31, 2024. Noninterest bearing deposits increased $8.6 million, or 6.7%, to $138.4 million at December 31, 2025 from $129.7 million at December 31, 2024. Borrowings. The Company had $35.0 million in Federal Home Loan Bank borrowings at December 31, 2025 compared to $15.0 million in Federal Home Loan Bank borrowings at December 31, 2024. These borrowings from the FHLB replaced the $35.0 million in subordinated debt issued in 2020. Stockholders' Equity. Stockholders' equity decreased $11.7 million or 6.0%, to $183.8 million at December 31, 2025 primarily due to $29.8 million in stock repurchases, offset by $13.5 million of net income and $4.6 million in other adjustments, primarily equity compensation. During the year, the Company repurchased 1.8 million shares of common stock at an average cost of $16.23. Asset Quality. Non-performing assets at December 31, 2025 totaled $2.3 million consisting of $2.3 million in nonperforming loans and $0 in other real estate owned, compared to $4.2 million at December 31, 2024, consisting of $4.0 million in non-performing loans and $160,000 in other real estate owned. The decrease in non-performing loans is due to pay-offs received in the quarter. At December 31, 2025, the allowance for credit losses on loans was $6.4 million, which represented 0.85% of total loans and 284.72% of non-performing loans compared to $8.5 million at December 31, 2024, which represented 1.15% of total loans and 212.51% of non-performing loans. Comparison of Operating Results for the Three and Twelve Months Ended December 31, 2025 and 2024 Net Income. Net income for the quarter ended December 31, 2025 was $4.8 million, or $0.56 per diluted share, compared to net income of $2.0 million, or $0.18 per diluted share, for the quarter ended December 31, 2024. TheCompany reported net income of $13.5 million or $1.43 per diluted share, for the year ended December 31, 2025 compared to net income of $11.7 million, or $1.10 per diluted share, for the year ended December 31, 2024. Net Interest Income. Net interest income was $9.8 million for the three months ended December 31, 2025 compared to $9.0 million in the three months ended December 31, 2024. The net interest margin for the three months ended December 31, 2025 was 4.52% compared to 4.34% for the three months ended December 31, 2024. Net interest income was $36.9 million for the year ended December 31, 2025, compared to $35.2 million in the year ended December 31, 2024. The net interest margin for the year ended December 31, 2025 was 4.35% compared to 4.27% for the year ended December 31, 2024. In each case, the increase was primarily due to the yield on interest-earning assets increasing at a greater rate than the cost on interest-bearing liabilities. Provision for Credit Losses During the quarter and year ended December 31, 2025, the Company recorded recoveries in the provision for credit losses of $1.9 million and $2.4 million, respectively. During the fourth quarter, based on a recommendation from a third-party validation report on the CECL model and methodology, the Company expanded the number of independent variables used in the forecast economic adjustment. The Company added the Federal Reserve's forecast of the unemployment rate to the regression analysis that had previously used only the Federal Reserve's forecast of GDP. This change resulted in a decrease in the required ACL-Loans in the fourth quarter of $945,000 when compared to the September 30, 2025 calculation. The remaining decrease in the calculated required ACL-loans was primarily due to formula-driven qualitative factor adjustments for loan segment growth and asset quality. Noninterest Income. For the three months ended December 31, 2025, noninterest income totaled $793,000 compared to $644,000 in the quarter ended December 31, 2024. For the year ended December 31, 2025, noninterest income totaled $2.7 million as compared to $2.5 million for the year ended December 31, 2024. Noninterest Expense. For the three months ended December 31, 2025 noninterest expense totaled $5.4 million compared to $6.2 million for the three months ended December 31, 2024. Compensation and benefits expenses decreased by 15.4%, primarily due to the reduced cost of the equity awards granted in 2024 after the stockholders approved the 2024 Equity Incentive Plan. These expenses decreased to $601,000 in the quarter ended December 31, 2025 compared to $1.2 million in the quarter ended December 31, 2024. For the year ended December 31, 2025 noninterest expense totaled $23.2 million compared to $21.5 million in the year ended December 31, 2024. Compensation and benefits increased by 15.9% due to increases the full year of costs of the equity awards granted after the stockholders approved the 2024 Equity Incentive Plan compared to four months of costs of the plan in 2024. During the year ended December 31, 2025 expense related to this plan was $3.9 million as compared to $1.5 million in the year ended December 31, 2024. Forward-Looking Statements This press release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative and regulatory issues that may impact the Company's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, increased competitive pressures, the effects of inflation, potential recessionary conditions, general economic conditions or conditions within the securities markets, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the FRB, the impact of the imposition of tariffs and any retaliatory responses, changes in the quality, size and composition of our loan and securities portfolios, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio, changes in demand for our products and services, accounting and tax changes, deposit flows, real estate values and competition, changes in accounting principles, policies or guidelines, changes in legislation or regulation and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services, a potential government shutdown, a failure in or breach of our operational or security systems or infrastructure, including cyberattacks that could adversely affect the Company's financial condition and results of operations and the business in which the Company and the Bank are engaged and the failure to maintain current technologies, the failure to retain or attract employees. BV Financial, Inc. BV Financial, Inc. is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with twelve branches in the Baltimore metropolitan area and the eastern shore of Maryland. The Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses. BV FINANCIAL, INC. Consolidated Financial Ratios BV FINANCIAL, INC. Consolidated Balance Sheets BV FINANCIAL, INC. Consolidated Statements of Income BV FINANCIAL, INC. Average Balance Sheet for the Quarters ended December 31, (Dollars in thousands) BV FINANCIAL, INC. Average Balance Sheet for the Years ended December 31, (Dollars in thousands) ALLOWANCE FOR CREDIT LOSS - LOANS (Dollars in thousands) RECONCILIATION TABLE (UNAUDITED) NON-GAAP ADJUSTED NET INCOME Non-GAAP Reconciliation In addition to results presented in accordance with generally accepted accounting principles utilized in the Unites States ("GAAP"), this earnings release contains a non-GAAP financial measure, Non-GAAP adjusted net income. The Company believes this non-GAAP financial measure is useful for both investors and management to understand the effects of certain items and provide an alternative view of its performance over time. Non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for total stockholders' equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Contact: Michael J. Dee Chief Financial Officer (410) 477- 5000 SOURCE: BV Financial, Inc. View the original press release on ACCESS Newswire

Shares of BV Financial, Inc. BVFL have gained 13.9% since the company reported its earnings for the quarter ended Sept. 30, 2025. This compares to the S&P 500 index’s 1.4% growth over the same time frame. Over the past month, the stock has gained 0.4% compared with the S&P 500’s 1.4% growth. BV Financial reported net income of 41 cents per share for the third quarter of 2025, up from 35 cents per share earned a year earlier. Net interest income showed a modest gain, reaching $9.4 million, up from $9.3 million. The company reported net income of $3.7 million for the third quarter of 2025, slightly below the $3.8 million in the prior-year quarter. While GAAP net income declined, non-GAAP adjusted net income rose 7.3% to $4.4 million from $4.1 million in the prior-year period, driven largely by the normalization of equity plan expenses. BV Financial, Inc. price-consensus-eps-surprise-chart | BV Financial, Inc. Quote BV Financial posted a slight increase in net loans, which rose by $8.6 million, or 1.2%, to $737.9 million as of Sept. 30, 2025. Deposits followed suit, climbing 1.9% to $663.8 million during the same period. Total assets stood at $909.4 million, down marginally from $911.8 million at year-end 2024. Return on average assets (ROAA) slipped slightly to 1.65% from 1.7% in the third quarter of 2024, while return on average equity (ROAE) improved to 7.8% from 7.3%. The company’s net interest margin narrowed modestly to 4.4%, down from 4.5%, due to rising deposit costs and a shift in the deposit mix, although higher yields on interest-earning assets partially offset these pressures. Noninterest income remained relatively stable at $0.68 million compared to $0.7 million a year ago. However, non-interest expenses rose to $5.9 million from $5.5 million, largely due to increased compensation costs associated with the full implementation of the 2024 equity incentive plan. These costs were applicable for the entire quarter this year, versus only one month last year. The firm’s decision to continue tightening expenses outside compensation, along with disciplined credit provisioning, helped maintain asset quality metrics despite elevated costs from stock compensation. Credit quality remained strong, with non-performing assets decreasing to $3.5 million from $4.2 million at year-end 2024. The company recorded a $1 million recovery in its provision for credit losses, further supporting the bottom line. The allowance for credit losses now covers 233.5% of non-performing loans, up from 212.5% at year-end 2024, signaling enhanced credit reserves despite benign charge-off activity. Several factors contributed to the company’s mixed results. While net interest income edged higher due to rising loan balances and stronger yields, the benefits were partially offset by increased deposit costs and the aforementioned compensation-related expense uptick. The yield on loans climbed to 6.2% from 6.1%, and overall yields on interest-earning assets increased to 5.9% from 5.86%, reflecting the impact of elevated interest rates across the financial landscape. Operating efficiency metrics deteriorated somewhat, as the efficiency ratio rose to 58.6% from 54.7% in the prior year’s quarter, reflecting the higher expense base. Non-interest expenses as a percent of average assets also increased to 2.6% from 2.5%. BV Financial announced it received a non-objection from the Federal Reserve Bank of Richmond to initiate a new stock repurchase program. This marks the company’s third such program since its mutual-to-stock conversion in July 2023. The program authorizes the repurchase of up to 10% of outstanding shares and follows the recent completion of its second repurchase initiative in September 2025. During the third quarter, BV Financial had already repurchased 782,324 shares at an average price of $16.14, totaling approximately $12.6 million. This capital return initiative reflects management’s confidence in the company’s financial health and its ability to generate shareholder value, even amid rising cost pressures and a competitive deposit environment. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BV Financial, Inc. (BVFL): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Announces Adoption and Regulatory Non-Objection For Stock Repurchase Program BALTIMORE, MD / ACCESS Newswire / October 17, 2025 / BV Financial, Inc. (NASDAQ:BVFL), the holding company for BayVanguard Bank (the "Bank"), today reported net income of $3.7 million, or $0.41 per diluted share, for the quarter ended September 30, 2025 compared to net income of $3.8 million, or $0.35 per diluted share, for the quarter ended September 30, 2024. Net income for the nine-month period ended September 30, 2025 was $8.7 million or $0.88 per diluted share compared to net income of $9.8 million or $0.91 per diluted share for the nine-month period ended September 30, 2024. Adjusted net income, a non-GAAP financial metric, was $4.4 million and $4.1 million for the quarters ended September 30, 2025 and 2024, respectively, and $11.1 million and $10.0 million for the nine months ended September 30, 2025, and 2024, respectively. For a reconciliation of net income as reported and non-GAAP adjusted net income, see the table attached to this press release. Financial Highlights Return on average assets and return on average equity for the three months ended September 30, 2025, was 1.65% and 7.77%, respectively. Return on average assets and return on average equity for the nine months ended September 30, 2025 was 1.27% and 5.93%, respectively. Net loans increased $8.6 million or 1.2% to $737.9 million compared to $729.2 million on December 31, 2024. Deposits increased $12.3 million or 1.9% from $651.5 million on December 31, 2024 to $663.8 million at September 30, 2025. Non-accrual loans decreased $500,000 to $3.5 million at September 30, 2025 from $4.0 million at December 31, 2024. The Company recorded a recovery of provision for credit losses of $1.0 million for the three months ended September 30, 2025 and $539,000 for the nine months ended September 30, 2025. During the quarter ended September 30, 2025, the Company repurchased 782,324 shares of its outstanding common stock at an average price of $16.14. FINANCIAL CONDITION DISCUSSION Total Assets. Total assets were $909.4 million at September 30, 2025, a decrease of $2.4 million, or 0.27%, from $911.8 million at December 31, 2024. Cash and Cash Equivalents. Cash and cash equivalents decreased $7.0 million, or 9.9%, to $63.5 million at September 30, 2025 from $70.5 million at December 31, 2024. The decrease in cash was primarily a result loan growth and the pay-off of $15 million in FHLB borrowings offset by deposit growth and securities repayments. Loans Receivable. Loans receivable increased $8.3 million, or 1.1%, to $746.1 million at September 30, 2025 from $737.8 million at December 31, 2024. Increases in in owner occupied 1-4 loans, commercial loans and construction loans offset decreases in investor commercial real estate loans, non-owner occupied 1-4 loans, owner occupied 1-4 junior liens, owner occupied commercial real estate, marine and farm loans. Securities. Securities available for sale decreased by $2.8 million or 7.5% from December 31, 2024 as paydowns and maturities were not fully replaced with new purchases. The held-to-maturity portfolio experienced a slight decrease due to paydowns. Total Liabilities. Total liabilities increased $2.8 million or 0.4%, to $719.2 million at September 30, 2025 from $716.3 million at December 31, 2024. The increase was due primarily to the increase in deposits and other liabilities offset by a decrease in borrowings. Deposits. Total deposits increased $12.3 million, or 1.9% to $663.8 million at September 30, 2025 from $651.5 million at December 31, 2024. Interest-bearing deposits increased $7.3 million, or 1.4%, to $529.0 million at September 30, 2025 from $521.8 million at December 31, 2024. Noninterest bearing deposits increased $5.0 million, or 3.9%, to $134.7 million at September 30, 2025 from $129.7 million at December 31, 2024. Stockholders' Equity. Stockholders' equity decreased $5.3 million, or 2.7%, to $190.2 million at September 30, 2025 from $195.5 million at December 31, 2024 as net income, the decrease in the accumulative other comprehensive loss and the impact of equity compensation plans was offset by $17.7 million in stock repurchase during the year-to-date period. RESULTS OF OPERATION DISCUSSION Net Income. Net income was $3.7 million or $0.41 per diluted share for the three months ended September 30, 2025 compared to $3.8 million or $0.35 per diluted share for the three months ended September 30, 2024. Net income was $8.7 million or $0.88 per diluted share for the nine months ended September 30, 2025 compared to $9.8 million or $0.91 per diluted share for the nine months ended September 30, 2024. The decreases were due to higher compensation expenses and smaller credits to the provision for credit losses offsetting higher net interest and other income. Net Interest Income. Net interest income was $9.4 million for the three months ended September 30, 2025 compared to $9.3 million for the three months ended September 30, 2024. The net interest margin for the three months ended September 30, 2025 was 4.40% compared to 4.49% for the three months ended September 30, 2024. The increase in net interest income was due to higher average balances of interest earning assets and higher yields on these assets offset by a higher average balance of deposits and higher rates paid on deposits. Net interest income was $27.1 million for the nine months ended September 30, 2025, compared to $26.2 million in the nine months ended September 30, 2024. The net interest margin for the nine months ended September 30, 2025 was 4.29% compared to 4.25% for the nine months ended September 30, 2024. The increase in net interest income was due to higher average balances of interest earning assets and higher yields on these assets offsetting the increase in interest expense due to a higher volume of deposits and higher rates paid on deposits. Noninterest Income. For the three months ended September 30, 2025, noninterest income totaled approximately $684,000 compared to $696,000 for the quarter ended September 30, 2024. For the nine months ended September 30, 2025 and September 30, 2024, noninterest income totaled $1.9 million. Noninterest Expense. For the three months ended September 30, 2025, noninterest expense totaled $5.9 million compared to $5.5 million in the three months ended September 30, 2024. Compensation and benefits increased $570,000, primarily due to the costs of the 2024 equity incentive plan. For the quarter ended September 30, 2024, the expenses of the 2024 equity incentive plan were only applicable for one month based on the grant dates of the awards. All other expense categories combined decreased by $165,000 in the quarter ended September 30, 2025 when compared to the quarter ended September 30, 2024. For the nine months ended September 30, 2025, noninterest expense totaled $17.8 million as compared to $15.3 million in the nine months ended September 30, 2024. Compensation and benefits expense increased $2.9 million. For the nine months ended September 30, 2025, the expenses of the 2024 equity incentive plan were applicable for all nine months compared to one month for the nine month period ended September 30, 2024. The increase in plan expenses totaled $2.9 million in the 2025 year-to-date period when compared to the same period in 2024. All other expense categories combined decreased by $374,000 in the quarter ended September 30, 2025 when compared to the quarter ended September 30, 2024. Asset Quality. Non-performing assets at September 30, 2025 totaled $3.5 million consisting of $3.5 million in nonperforming loans and $0 in other real estate owned, compared to $4.2 million at December 31, 2024, consisting of $4.0 million in non-performing loans and $159,000 in other real estate owned. At September 30, 2025, the allowance for credit losses on loans was $8.2 million, which represented 1.10% of total loans and 233.5% of non-performing loans compared to $8.5 million at December 31, 2024, which represented 1.15% of total loans and 212.5% of non-performing loans. STOCK REPURCHASE PROGRAM The Company has adopted, and received the non-objection of the Federal Reserve Bank of Richmond (the "Federal Reserve") to initiate, a stock repurchase program for up to 10% of the Company's outstanding shares of common stock (approximately 9,536,094 shares). This is the Company's third stock repurchase program since completing its mutual-to-stock conversion and related stock offering on July 31, 2023. The second stock repurchase program was completed in September 2025. Repurchases are expected to commence after the date of this press release. Once initiated, shares of the Company's common stock may be repurchased pursuant to the program in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The repurchase program will expire on June 30, 2026, unless extended by the Board of Directors pursuant to further non-objection from the Federal Reserve. Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of both the Company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. Open market purchases will be subject to the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. The timing and amount of share repurchases under this authorization may be suspended, terminated or modified by the Company at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period. Forward-Looking Statements This press release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative and regulatory issues that may impact the Company's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, increased competitive pressures, the effects of inflation, the imposition of tariffs or other domestic or international governmental policies, potential recessionary conditions, general economic conditions or conditions within the securities markets, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the FRB, the impact of the federal government shutdown, changes in the quality, size and composition of our loan and securities portfolios, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio, changes in demand for our products and services, accounting and tax changes, deposit flows, real estate values and competition, changes in accounting principles, policies or guidelines, changes in legislation or regulation and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services, a potential government shutdown, a failure in or breach of our operational or security systems or infrastructure, including cyberattacks that could adversely affect the Company's financial condition and results of operations and the business in which the Company and the Bank are engaged and the failure to maintain current technologies, our ability to enter into new markets successfully and capitalize on growth opportunities and the failure to retain or attract employees. BV Financial, Inc. is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with twelve branches in the Baltimore metropolitan area and the eastern shore of Maryland. The Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses. Contact: Michael J. Dee Chief Financial Officer (410) 477- 5000 BV FINANCIAL, INC. Consolidated Financial Ratios (1) Performance ratios are annualized. (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. (3) Represents net interest income as a percentage of average interest-earning assets. (4) Represents non-interest expenses divided by the sum of net interest income and non-interest income. BV FINANCIAL, INC. Consolidated Balance Sheets BV FINANCIAL, INC. Consolidated Statements of Income BV FINANCIAL, INC. Average Balance Sheet for the Quarters ended September 30, (Dollars in thousands) BV FINANCIAL, INC. Average Balance Sheet for the Nine Months ended September 30, (Dollars in thousands) ALLOWANCE FOR CREDIT LOSS - LOANS (Dollars in thousands) RECONCILIATION TABLE (UNAUDITED) NON-GAAP ADJUSTED NET INCOME Non-GAAP Reconciliation In addition to results presented in accordance with generally accepted accounting principles utilized in the Unites States ("GAAP"), this earnings release contains a non-GAAP financial measure, Non-GAAP adjusted net income. The Company believes this non-GAAP financial measure is useful for both investors and management to understand the effects of certain items and provide an alternative view of its performance over time. Non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for total stockholders' equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. SOURCE: BV Financial, Inc. View the original press release on ACCESS Newswire

BALTIMORE, MD / ACCESS Newswire / July 17, 2025 / BV Financial, Inc. (NASDAQ:BVFL), the holding company for BayVanguard Bank (the "Bank"), today reported net income of $2.9 million, or $0.29 per diluted share, for the quarter ended June 30, 2025 compared to net income of $3.4 million, or $0.32 per diluted share, for the quarter ended June 30, 2024. Net income for the six-month period ended June 30, 2025 was $5.0 million or $0.50 per diluted share compared to net income of $6.0 million or $0.52 per diluted share for the six-month period ended June 30, 2024. Adjusted net income, a non-GAAP financial metric, was $3.7 million and $3.4 million for the quarters ended June 30, 2025 and 2024 and $6.7 million and $6.04 million for the year to date periods ended June 30, 2025 and 2024, respectively. For a reconciliation of net income as reported and Non-GAAP adjusted net income, see the table below. Financial Highlights Return on average assets and return on average equity for the three months ended June 30, 2025 was 1.26% and 5.78%, respectively. Net loans increased $13.2 million or 1.8% to $742.4 million compared to $729.2 million at December 31, 2024. Deposits increased $7.4 million or 1.1% from $651.5 million at December 31, 2024 to $658.9 million at June 30, 2025. All $15.0 million in borrowings from the Federal Home Loan Bank of Atlanta "FHLB" were paid off in the quarter. Non-accrual loans increased $400,000 to $4.4 million at June 30, 2025 from $4.0 million at December 31, 2024. The Company recorded provisions for credit losses of $178,000 for the three months ended June 30, 2025 and $475,000 for the six months ended June 30, 2025. During the quarter ended June 30, 2025, the Company repurchased 277,000 shares of its outstanding common stock at an average price of $15.29. FINANCIAL CONDITION DISCUSSION Total Assets. Total assets were $908.3 million at June 30, 2025, a decrease of $3.5 million, or -0.4%, from $911.8 million at December 31, 2024. The decrease was due primarily to the Company utilizing cash on-hand to repay $15.0 million in borrowings from the FHLB. Cash and Cash Equivalents. Cash and cash equivalents decreased $14.2 million, or 20.1%, to $56.3 million at June 30, 2025 from $70.5 million at December 31, 2024. The decrease in cash is primarily a result of the pay-off of FHLB borrowings. Loans Receivable. Loans receivable increased $13.8 million, or 1.9%, to $751.6 million at June 30, 2025 from $737.8 million at December 31, 2024. Increases in in owner occupied 1-4 loans, commercial loans and construction loans offset decreases in non-owner occupied 1-4 loans, owner occupied 1-4 junior liens, owner occupied commercial real estate, marine and investor commercial real estate loans. Securities. Securities available for sale decreased by $1.9 million or 5.1% from December 31, 2024 as paydowns in the mortgage-backed securities were not replaced with new purchases. The held-to-maturity portfolio experienced a slight decrease due to paydowns. Total Liabilities. Total liabilities decreased $6.0 million or -0.8%, to $710.3 million at June 30, 2025 from $716.3 million at December 31, 2024. The decrease was due primarily to the decrease in borrowings offsetting increases in deposits. Deposits. Total deposits increased $7.4 million, or 1.1% to $658.9 million at June 30, 2025 from $651.5 million at December 31, 2024. Interest-bearing deposits increased $2.6 million, or 0.5%, to $524.4 million at June 30, 2025 from $521.8 million at December 31, 2024. Noninterest bearing deposits increased $4.8 million, or 3.7%, to $134.5 million at June 30, 2025 from $129.7 million at December 31, 2024. Stockholders' Equity. Stockholders' equity increased $2.5 million, or 1.3%, to $198.0 million at June 30, 2025 from $195.5 million at December 31, 2024 as net income and the decrease in the accumulative other comprehensive loss was somewhat offset by $4.3 million in stock repurchase during the period. RESULTS OF OPERATION DISCUSSION Net Income. Net income was $2.9 million or $0.29 per diluted share for the three months ended June 30, 2025 compared to $3.4 million or $0.32 per diluted share for the three months ended June 30, 2024. Net income was $5.0 million or $0.50 per diluted share for the six months ended June 30, 2025 compared to $6.0 million or $0.52 per diluted share for the six months ended June 30, 2024. The decreases were due to higher provisions for credit losses and noninterest compensation expenses, offset by higher net interest income. Net Interest Income. Net interest income was $9.2 million for the three months ended June 30, 2025 compared to $8.9 million for the three months ended June 30, 2024.The net interest margin for the three months ended June 30, 2025 was 4.36% compared to 4.33% for the three months ended June 30, 2024. The increase in net interest income was due to higher average balances of interest earning assets and higher yields on these assets offset by a higher average balance of deposits and higher rates paid on deposits. Net interest income was $17.8 million for the six months ended June 30, 2025, compared to $16.9 million in the six months ended June 30, 2024. The net interest margin for the six months ended June 30, 2025 was 4.24% compared to 4.12% for the six months ended June 30, 2024. The increase in net interest income was due to higher average balances of interest earning assets and higher yields on these assets offsetting the increase in interest expense due to a higher volume of deposits and higher rates paid on deposits. Noninterest Income. For the three months ended June 30, 2025, noninterest income totaled approximately $714,000 compared to $596,000 for the quarter ended June 30, 2024. The increase is attributable to the collection of miscellaneous fees on loans and deposits. For the six months ended June 30, 2025 and June 30; 2024, noninterest income totaled $1.2 million. Noninterest Expense. For the three months ended June 30, 2025, noninterest expense totaled $5.8 million compared to $4.9 million in the three months ended June 30, 2024. Increases in compensation and benefits of $927,000 due to the $1.1 million cost of the equity awards granted under the 2024 Equity Incentive Plan approved by stockholders. All other expense categories combined decreased by $70,000 in the quarter ended June 30, 2025 when compared to the quarter ended June 30, 2024. For the six months ended June 30, 2025, noninterest expense totaled $11.9 million as compared to $9.8 million in the six months ended June 30, 2024. Compensation and benefits expense increased $2.3 million due to the $2.3 million cost of the equity awards granted under the 2024 Equity Incentive Plan approved by stockholders. All other expense categories combined decreased by $210,000 in the six-month period ended June 30, 2025 when compared to the six month period ended June 30, 2024. Asset Quality. Non-performing assets at June 30, 2025 totaled $4.5 million consisting of $4.4 million in nonperforming loans and $157,000 in other real estate owned, compared to $4.2 million at December 31, 2024, consisting of $4.0 million in non-performing loans and $159,000 in other real estate owned. At June 30, 2025, the allowance for credit losses on loans was $9.2 million, which represented 1.22% of total loans and 208.6% of non-performing loans compared to $8.5 million at December 31, 2024, which represented 1.15% of total loans and 212.5% of non-performing loans. Forward-Looking Statements This press release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative and regulatory issues that may impact the Company's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, increased competitive pressures, the effects of inflation, the imposition of tariffs or other domestic or international governmental policies, potential recessionary conditions, general economic conditions or conditions within the securities markets, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the FRB, changes in the quality, size and composition of our loan and securities portfolios, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio, changes in demand for our products and services, accounting and tax changes, deposit flows, real estate values and competition, changes in accounting principles, policies or guidelines, changes in legislation or regulation and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services, a potential government shutdown, a failure in or breach of our operational or security systems or infrastructure, including cyberattacks that could adversely affect the Company's financial condition and results of operations and the business in which the Company and the Bank are engaged and the failure to maintain current technologies, our ability to enter into new markets successfully and capitalize on growth opportunities and the failure to retain or attract employees. BV Financial, Inc. is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with thirteen branches in the Baltimore metropolitan area and the eastern shore of Maryland. The Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses. BV FINANCIAL, INC. Consolidated Financial Ratios (1) Performance ratios are annualized. (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. (3) Represents net interest income as a percentage of average interest-earning assets. (4) Represents non-interest expenses divided by the sum of net interest income and non-interest income. BV FINANCIAL, INC. Consolidated Balance Sheets Consolidated Statements of Income BV FINANCIAL, INC. Average Balance Sheet for the Quarters ended June 30, '(Dollars in thousands) BV FINANCIAL, INC. Average Balance Sheet for the Six Months ended June 30, '(Dollars in thousands) ALLOWANCE FOR CREDIT LOSS - LOANS '(Dollars in thousands) RECONCILIATION TABLE (UNAUDITED) NON-GAAP ADJUSTED NET INCOME Non-GAAP Reconciliation In addition to results presented in accordance with generally accepted accounting principles utilized in the Unites States ("GAAP"), this earnings release contains a non-GAAP financial measure, Non-GAAP adjusted net income. The Company believes this non-GAAP financial measure is useful for both investors and management to understand the effects of certain items and provide an alternative view of its performance over time. Non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for total stockholders' equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Contact: Michael J. Dee Chief Financial Officer (410) 477- 5000 SOURCE: BV Financial, Inc. View the original press release on ACCESS Newswire

BALTIMORE, MD / ACCESS Newswire / April 17, 2025 / BV Financial, Inc. (NASDAQ:BVFL), (the "Company") the holding company for BayVanguard Bank (the "Bank"), reported net income of $2.1 million or $0.21 per diluted share for the quarter ended March 31, 2025 compared to net income of $2.6 million or $0.24 per diluted share for the quarter ended March 31, 2024. Adjusted net income, a Non-GAAP financial metric, was $2.9 million for both quarters ended March 31, 2025 and 2024. For a reconciliation of net income as reported and Non-GAAP adjusted net income, see the table below. Financial Highlights Return on average assets and return on average equity for the quarter ended March 31, 2025 were 0.92% and 4.28%, respectively. Return on average assets and return on average equity for the three months ended March 31, 2024 were 1.16% and 5.14%, respectively. Net Loans increased $12.0 million, or 1.65% to $741.3 million at March 31, 2025 compared to $729.2 million at December 31, 2024. Deposits increased $6.4 million, or 0.98%, from $651.5 million at December 31, 2024 to $657.9 million at March 31, 2025. In the quarter ended March 31, 2025, the Company recorded a provision for credit losses of $297,000 consisting of a $351,000 provision to the allowance for credit losses (ACL) - loans, a $53,000 recovery to the ACL-unfunded commitments and a $1,000 recovery to the ACL - for held-to-maturity securities. In the quarter ended March 31, 2024, the Company recorded a provision for credit losses of $18,000 consisting of ($133,000) in the ACL - loans, $152,000 in the ACL-unfunded commitments and ($1,000) in the ACL - HTM Securities. The Company completed the stock repurchase program previously announced on July 30, 2024 with the repurchase of 50,038 shares in January 2025 at an average cost of $17.08. The Company announced the adoption of a second stock repurchase program on April 4, 2025. Financial Condition Total Assets. Total assets were $921.9 million at March 31, 2025, an increase of $10.1 million, or 1.11%, from $911.8 million at December 31, 2024. The increase was due primarily to a $12.0 million increase in loans receivable partially offset by a decrease of $2.1 million in securities available for sale. The loan growth in the quarter was funded by an increase in deposits and quarterly net income. Cash and Cash Equivalents. Cash and cash equivalents increased $320,000 or 0.5%, to $70.8 million at March 31, 2025 from $70.5 million at December 31, 2024. Net Loans Receivable. Net loans receivable increased $12.0 million, or 1.65%, to $741.3 million at March 31, 2025 from $729.2 million at December 31, 2024. Increases in commercial and industrial loans of $9.9 million, investor commercial real estate loans of $4.3 million and owner occupied one-to four-family loans of $3.0 million offset decreases in non-owner occupied one- to four-family loans. Securities. Securities available for sale ("AFS") decreased $2.1 million, or 5.6%, to $35.2 million at March 31, 2025 from $37.3 million at December 31, 2024. The decrease was due to new purchases not fully replacing maturities and paydowns in the portfolio. Securities held-to-maturity were relatively unchanged at $5.9 million. Total Liabilities. Total liabilities increased $7.6 million or 1.1%, to $723.9 million at March 31, 2025 from $716.3 million at December 31, 2024. The increase was primarily due to an increase in total deposits of $6.4 million, and an increase in escrow accounts and other accrued balances. Deposits. Total deposits increased $6.4 million, or 0.98%, to $657.9 million at March 31, 2025 from $651.5 million at December 31, 2024. Noninterest bearing deposits increased $6.5 million, or 5.0%, to $136.3 million at March 31, 2025 from $129.7 million at December 31, 2024. Interest-bearing deposits were relatively unchanged at $521.6 million. Federal Home Loan Bank Borrowings. The Company had $15 million in Federal Home Loan Bank borrowings at March 31, 2025 and December 31, 2024. Stockholders' Equity. Stockholders' equity increased $2.6 million, or 1.3%, to $198.1 million at March 31, 2025, primarily due to net income and somewhat offset by share repurchases. Asset Quality. Non-performing assets at March 31, 2025 totaled $5.0 million consisting of $4.8 million in nonperforming loans and $158,000 in foreclosed real estate, compared to $4.2 million at December 31, 2024, consisting of $4.0 million in non-performing loans and $159,000 in foreclosed real estate. At March 31 2025, the allowance for credit losses on loans was $8.9 million, which represented 1.18% of total loans and 183.9% of non-performing loans compared to $8.5 million at December 31, 2024, which represented 1.15% of total loans and 212.5% of non-performing loans. Comparison of Operating Results for the Three Ended March 31, 2025 and 2024 Net Interest Income. Net interest income was $8.6 million for the three months ended March 31, 2025 compared to $8.0 million in the three months ended March 31, 2024. The net interest margin for the three months ended March 31, 2025 was 4.12% compared to 3.91% for the three months ended March 31, 2024. Noninterest Income. For the three months ended March 31, 2025, noninterest income totaled $530,000 compared to $578,000 in the quarter ended March 31, 2024. Noninterest Expense. For the three months ended March 31, 2025, noninterest expense totaled $6.2 million compared to $4.9 million for the three months ended March 31, 2024. Compensation and benefits expenses increased $1.4 million, or 44.6% due to increases in salaries and the $1.2 million cost of the equity awards granted after the stockholders approved the 2024 Equity Incentive Plan. Professional fees increased $119,000 or 106.3% primarily due to a recovery in 2024 of previously expensed legal fees of $109,000 on the disposition of a problem loan. Other expenses decreased $271,000 or 43.2%. Income taxes. For the three months ended March 31, 2025, income tax expense was $599,000 for an effective tax rate of 22.2%. In the quarter ended March 31, 2024, income tax expense was $1.0 million for an effective tax rate of 28.5%. The lower rate is due to an accrual adjustment made in the current quarter. Forward-Looking Statements This press release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative and regulatory issues that may impact the Company's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, increased competitive pressures, the effects of inflation, the imposition of tariffs or other domestic or international governmental policies, potential recessionary conditions, general economic conditions or conditions within the securities markets, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the FRB, changes in the quality, size and composition of our loan and securities portfolios, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio, changes in demand for our products and services, accounting and tax changes, deposit flows, real estate values and competition, changes in accounting principles, policies or guidelines, changes in legislation or regulation and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services, a potential government shutdown, a failure in or breach of our operational or security systems or infrastructure, including cyberattacks that could adversely affect the Company's financial condition and results of operations and the business in which the Company and the Bank are engaged and the failure to maintain current technologies, our ability to enter into new markets successfully and capitalize on growth opportunities and the failure to retain or attract employees. BV Financial, Inc. BV Financial, Inc. is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with thirteen branches in the Baltimore metropolitan area and the eastern shore of Maryland. The Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses. Contact: Michael J. DeeChief Financial Officer(410) 477- 5000 BV FINANCIAL, INC.Consolidated Financial Ratios BV FINANCIAL, INC.Consolidated Balance Sheets BV FINANCIAL, INC.Consolidated Statements of Income BV FINANCIAL, INC.Average Balance Sheet for the Quarters ended March 31,'(Dollars in thousands) ALLOWANCE FOR CREDIT LOSS - LOANS'(Dollars in thousands) RECONCILIATION TABLE (UNAUDITED)NON-GAAP ADJUSTED NET INCOME Non-GAAP Reconciliation In addition to results presented in accordance with generally accepted accounting principles utilized in the Unites States ("GAAP"), this earnings release contains a non-GAAP financial measure, Non-GAAP adjusted net income. The Company believes this non-GAAP financial measure is useful for both investors and management to understand the effects of certain items and provide an alternative view of its performance over time. Non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for total stockholders' equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. SOURCE: BV Financial, Inc. View the original press release on ACCESS Newswire