BV Financial, Inc. ( (BVFL) ) has released its Q2 earnings. Here is a breakdown of the information BV Financial, Inc. presented to its investors.
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BV Financial, Inc., the parent company of BayVanguard Bank, is a community-oriented financial institution based in Baltimore, Maryland, with thirteen branches serving the Baltimore metropolitan area and the eastern shore of Maryland.
BV Financial, Inc. reported a net income of $2.9 million, or $0.29 per diluted share, for the quarter ended June 30, 2025, a decrease from $3.4 million, or $0.32 per diluted share, for the same period in 2024. For the six-month period, net income was $5.0 million, down from $6.0 million in the previous year.
Key financial highlights include a 1.8% increase in net loans to $742.4 million and a 1.1% rise in deposits to $658.9 million. The company also paid off $15.0 million in borrowings from the Federal Home Loan Bank of Atlanta and repurchased 277,000 shares of its common stock. Despite these positive moves, non-accrual loans increased to $4.4 million, and provisions for credit losses were recorded at $178,000 for the quarter.
The company’s net interest income rose to $9.2 million for the quarter, driven by higher average balances of interest-earning assets and increased yields. However, noninterest expenses also increased, primarily due to higher compensation and benefits costs related to the 2024 Equity Incentive Plan.
Looking forward, BV Financial, Inc. remains focused on navigating economic and regulatory challenges while continuing to serve its community and exploring growth opportunities. The management is optimistic about maintaining a stable financial position despite the current economic conditions.