BV Financial, Inc. Announces Financial Results
BV Financial (NASDAQ:BVFL) reported net income of $3.7M ($0.41 diluted) for Q3 2025 and $8.7M ($0.88 diluted) for the nine months ended September 30, 2025, versus $3.8M and $9.8M in the prior-year periods. Adjusted net income was $4.4M for Q3 2025 and $11.1M YTD. Key balance-sheet moves: net loans rose to $737.9M (+1.2% since Dec 31, 2024), deposits increased to $663.8M (+1.9%), total assets were $909.4M, and stockholders' equity fell to $190.2M (−2.7%).
The company repurchased 782,324 shares in Q3 2025 at an average $16.14, and adopted a new 10% share repurchase program (~9.54M shares) through June 30, 2026, subject to Fed non-objection and available capital.
BV Financial (NASDAQ:BVFL) reportó un ingreso neto de $3.7M ($0.41 diluido) para el Q3 2025 y $8.7M ($0.88 diluido) para los primeros nueve meses finalizados el 30 de septiembre de 2025, frente a $3.8M y $9.8M en los períodos del año anterior. Utilidad neta ajustada fue de $4.4M para el Q3 2025 y $11.1M YTD. Movimientos clave del balance: los préstamos netos aumentaron a $737.9M (+1.2% desde el 31 de diciembre de 2024), los depósitos aumentaron a $663.8M (+1.9%), los activos totales fueron $909.4M y el patrimonio de los accionistas cayó a $190.2M (−2.7%).
La compañía recompró 782,324 acciones en el Q3 2025 a un precio medio de $16.14, y adoptó un nuevo programa de recompra de 10% de acciones (~9.54M acciones) hasta el 30 de junio de 2026, sujeto a la no objeción de la Fed y al capital disponible.
BV Financial (NASDAQ:BVFL) reportó ingresos netos de $3.7M ($0.41 diluido) para el tercer trimestre de 2025 y $8.7M ($0.88 diluido) para los primeros nueve meses finalizados el 30 de septiembre de 2025, frente a $3.8M y $9.8M en los periodos del año anterior. Utilidad neta ajustada fue de $4.4M para el Q3 2025 y $11.1M YTD. Movimientos clave del balance: las préstamos netos aumentaron a $737.9M (+1.2% desde el 31 de diciembre de 2024), los depósitos subieron a $663.8M (+1.9%), los activos totales fueron $909.4M y el patrimonio de los accionistas cayó a $190.2M (−2.7%).
La empresa recompró 782,324 acciones en el Q3 2025 a un precio medio de $16.14, y adoptó un nuevo programa de recompra de acciones del 10% (~9.54M acciones) hasta el 30 de junio de 2026, sujeto a la no objeción de la Fed y al capital disponible.
BV Financial (NASDAQ:BVFL) 는 2025년 3분기 순이익을 $3.7M ($0.41 희석)로, 9개월 누적은 $8.7M ($0.88 희석)으로 보고했으며, 전년 동기의 $3.8M 및 $9.8M에 비해 소폭 감소했습니다. 조정 순이익은 2025년 3분기에 $4.4M, 연간 누적 기준으로 $11.1M였습니다. 주요 대차대조표 움직임: 순대출은 $737.9M로 증가(+2024년 12월 31일 대비 +1.2%), 예금은 $663.8M으로 증가(+1.9%), 총자산은 $909.4M, 주주자본은 $190.2M로 감소했습니다(−2.7%).
회사는 2025년 3분기에 평균가 $16.14에 782,324주를 재매입했으며, 2026년 6월 30일까지 약 10%의 주식 재매입 프로그램(~9.54M주)을 채택했습니다. 이는 Fed의 반대 의견 비주얼 및 가용 자본에 따라 달라질 수 있습니다.
BV Financial (NASDAQ:BVFL) a affiché un résultat net de $3.7M ($0.41 dilués) pour le T3 2025 et $8.7M ($0.88 dilués) pour les neuf mois clos le 30 septembre 2025, vs $3.8M et $9.8M sur les périodes de l’exercice précédent. Le résultat net ajusté s’est élevé à $4.4M pour le T3 2025 et à $11.1M sur l’année N-1. Principaux mouvements du bilan : les prêts nets ont augmenté à $737.9M (+1.2% depuis le 31 décembre 2024), les dépôts à $663.8M (+1.9%), les actifs totaux à $909.4M, et les fonds propres des actionnaires ont chuté à $190.2M (−2.7%).
L’entreprise a racheté 782 324 actions au T3 2025 à un prix moyen de $16.14, et a adopté un nouveau programme de rachat d’actions de 10% (~9.54M actions) jusqu’au 30 juin 2026, sous réserve de l’absence d’objection de la Fed et du capital disponible.
BV Financial (NASDAQ:BVFL) meldete im Q3 2025 einen Nettogewinn von $3.7M ($0.41 verwässert) und für die v nine Monate bis zum 30. September 2025 von $8.7M ($0.88 verwässert), verglichen mit $3.8M bzw. $9.8M im Vorjahr. Bereinigtes Nettoeinkommen betrug $4.4M im Q3 2025 und $11.1M Year-to-Date. Wichtige Bilanzbewegungen: Nettodarlehen stiegen auf $737.9M (+1.2% seit dem 31.12.2024), Einlagen auf $663.8M (+1.9%), Gesamtaktiva $909.4M und das Eigenkapital der Aktionäre fiel auf $190.2M (−2.7%).
Das Unternehmen hat 782.324 Aktien im Q3 2025 zu einem Durchschnittspreis von $16.14 zurückgekauft und ein neues 10% Aktienrückkaufprogramm (~9.54M Aktien) bis zum 30. Juni 2026 eingeführt, vorbehaltlich Fed-Nonobjektion und verfügbarem Kapital.
BV Financial (NASDAQ:BVFL) أظهرت صافي دخل قدره $3.7M ($0.41 ممهور مخفض) للربع الثالث من 2025 و
شرَت الشركة 782,324 سهماً في الربع الثالث 2025 بسعر متوسط $16.14 للسهم، واعتمدت برنامج إعادة شراء أسهم جديد بنسبة 10% تقريباً (قرابة 9.54 مليون سهم) حتى 30 يونيو 2026، رهناً بعدم اعتراض الفدرالي وتوافر رأس المال.
BV Financial (NASDAQ:BVFL) 报告称，2025年第三季度净利润为 $3.7M（稀释后每股5.41美元）; 截至2025年9月30日的九个月净利润为 $8.7M（稀释后每股 $0.88），相比上年同期的 $3.8M 和 $9.8M。调整后净利润为 Q3 2025 的 $4.4M，以及年初至今的 $11.1M。关键资产负债表变动：净贷款增至 $737.9M（自2024年12月31日以来上涨1.2%），存款增至 $663.8M（+1.9%），总资产为 $909.4M，股东权益降至 $190.2M（-2.7%）。
公司在2025年第三季度回购了 782,324 股，平均价格为 $16.14，并通过新的 10% 股份回购计划（约 9.54 百万股）直至 2026 年 6 月 30 日，前提是美联储不反对且具备可用资本。
- Adjusted net income Q3 2025 of $4.4M
- Adjusted net income nine months 2025 of $11.1M
- Net loans +1.2% to $737.9M since Dec 31, 2024
- Deposits +1.9% to $663.8M since Dec 31, 2024
- Repurchased 782,324 shares at $16.14 average in Q3 2025
- Authorized up to 10% share repurchase program (~9.54M shares)
- Stockholders' equity down $5.3M (−2.7%) to $190.2M
- Net income nine months down from $9.8M to $8.7M
- Noninterest expense nine months increased to $17.8M from $15.3M
- Allowance for credit losses decreased to $8.2M from $8.5M
Insights
Solid core margins and a sizeable Fed‑cleared 10% buyback; near‑term earnings slightly below prior year.
Net income for the quarter was
The Company has received Federal Reserve non‑objection to repurchase up to
Watch for quarterly trends in provision for credit losses and compensation expense, which materially affected year‑to‑date results and drove a recovery of provision of
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
Adjusted net income, a non-GAAP financial metric, was
Financial Highlights
Return on average assets and return on average equity for the three months ended September 30, 2025, was
1.65% and7.77% , respectively. Return on average assets and return on average equity for the nine months ended September 30, 2025 was1.27% and5.93% , respectively.Net loans increased
$8.6 million or1.2% to$737.9 million compared to$729.2 million on December 31, 2024.Deposits increased
$12.3 million or1.9% from$651.5 million on December 31, 2024 to$663.8 million at September 30, 2025.Non-accrual loans decreased
$500,000 t o$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
Cash and Cash Equivalents. Cash and cash equivalents decreased
Loans Receivable. Loans receivable increased
Securities. Securities available for sale decreased by
Total Liabilities. Total liabilities increased
Deposits. Total deposits increased
Stockholders' Equity. Stockholders' equity decreased
RESULTS OF OPERATION DISCUSSION
Net Income. Net income was
Net Interest Income. Net interest income was
Net interest income was
Noninterest Income. For the three months ended September 30, 2025, noninterest income totaled approximately
For the nine months ended September 30, 2025 and September 30, 2024, noninterest income totaled
Noninterest Expense. For the three months ended September 30, 2025, noninterest expense totaled
For the nine months ended September 30, 2025, noninterest expense totaled
Asset Quality. Non-performing assets at September 30, 2025 totaled
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
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
At or For the Three Months | At or For the Nine Months | |||||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Performance Ratios(1): | ||||||||||||||||
Return on average assets | 1.65 | % | 1.70 | % | 1.27 | % | 1.46 | % | ||||||||
Return on average equity | 7.77 | % | 7.32 | % | 5.93 | % | 6.39 | % | ||||||||
Interest rate spread(2) | 3.65 | % | 3.71 | % | 3.54 | % | 3.48 | % | ||||||||
Net interest margin(3) | 4.40 | % | 4.49 | % | 4.29 | % | 4.25 | % | ||||||||
Non-interest expense to average assets | 2.59 | % | 2.46 | % | 2.61 | % | 2.29 | % | ||||||||
Efficiency ratio(4) | 58.58 | % | 54.73 | % | 61.25 | % | 54.53 | % | ||||||||
Average interest-earning assets to average interest-bearing liabilities | 150.18 | % | 156.49 | % | 149.97 | % | 155.24 | % | ||||||||
Average equity to average assets | 21.19 | % | 23.29 | % | 21.48 | % | 22.90 | % | ||||||||
Credit Quality Ratios: | ||||||||||||||||
Allowance for credit losses as a percentage of total loans | 1.10 | % | 1.15 | % | 1.10 | % | 1.15 | % | ||||||||
Allowance for credit losses as a percentage of non-performing loans | 233.53 | % | 201.60 | % | 233.53 | % | 201.60 | % | ||||||||
Net charge-offs (recoveries) to average outstanding loans during the year | 0.00 | % | -0.04 | % | 0.00 | % | -0.04 | % | ||||||||
Non-performing loans as a percentage of total loans | 0.47 | % | 0.57 | % | 0.47 | % | 0.57 | % | ||||||||
Non-performing loans as a percentage of total assets | 0.39 | % | 0.44 | % | 0.39 | % | 0.44 | % | ||||||||
Total non-performing assets as a percentage of total assets | 0.39 | % | 0.46 | % | 0.39 | % | 0.46 | % | ||||||||
Other: | ||||||||||||||||
Number of offices | 12 | 13 | 12 | 13 | ||||||||||||
Number of full-time equivalent employees | 105 | 111 | 105 | 111 | ||||||||||||
Weighted average shares outstanding | 9,078,667 | 10,752,069 | 9,580,446 | 10,686,024 | ||||||||||||
(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
September 30, 2025 | December 31, 2024 | |||||||
(dollars in thousands, except share amounts) | (unaudited) | |||||||
Assets | ||||||||
Cash | $ | 6,061 | $ | 5,842 | ||||
Interest-bearing deposits in other banks | 57,485 | 64,658 | ||||||
Cash and cash equivalents | 63,546 | 70,500 | ||||||
Equity Investment | 405 | 391 | ||||||
Securities available for sale | 34,482 | 37,259 | ||||||
Securities held to maturity (fair value of | 5,784 | 5,979 | ||||||
Loans held for maturity | 746,072 | 737,760 | ||||||
Allowance for Credit Losses | (8,197 | ) | (8,522 | ) | ||||
Net Loans | 737,875 | 729,238 | ||||||
Foreclosed real estate | - | 159 | ||||||
Premises and equipment, net | 12,686 | 13,224 | ||||||
Federal Home Loan Bank of Atlanta stock, at cost | 656 | 1,366 | ||||||
Investment in life insurance | 20,347 | 20,058 | ||||||
Accrued interest receivable | 3,049 | 3,161 | ||||||
Goodwill | 14,420 | 14,420 | ||||||
Intangible assets, net | 696 | 831 | ||||||
Deferred tax assets, net | 9,267 | 8,899 | ||||||
Other assets | 6,173 | 6,336 | ||||||
Total assets | $ | 909,386 | $ | 911,821 | ||||
Liabilities and Stockholders' Equity | ||||||||
Liabilities | ||||||||
Noninterest-bearing deposits | $ | 134,742 | $ | 129,724 | ||||
Interest-bearing deposits | 529,048 | 521,767 | ||||||
Total deposits | 663,790 | 651,491 | ||||||
FHLB borrowings | - | 15,000 | ||||||
Subordinated debentures | 35,000 | 34,883 | ||||||
Other liabilities | 20,386 | 14,948 | ||||||
Total liabilities | 719,176 | 716,322 | ||||||
Stockholders' equity | ||||||||
Preferred stock, | - | - | ||||||
Common stock, | 95 | 106 | ||||||
Paid-in capital | 80,151 | 94,679 | ||||||
Unearned common stock held by employee stock ownership plan | (7,023 | ) | (7,160 | ) | ||||
Retained earnings | 118,185 | 109,495 | ||||||
Accumulated other comprehensive loss | (1,198 | ) | (1,621 | ) | ||||
Total stockholders' equity | 190,210 | 195,499 | ||||||
Total liabilities and stockholders' equity | $ | 909,386 | $ | 911,821 | ||||
BV FINANCIAL, INC.
Consolidated Statements of Income
(dollars in thousands, except per share amounts) | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
Interest Income | 2025 | 2024 | 2025 | 2024 | ||||||||||||
Loans, including fees | $ | 11,519 | $ | 10,522 | $ | 33,594 | $ | 30,481 | ||||||||
Investment securities available for sale | 329 | 353 | 1,003 | 966 | ||||||||||||
Investment securities held to maturity | 46 | 83 | 139 | 266 | ||||||||||||
Other interest income | 633 | 1,192 | 1,938 | 3,058 | ||||||||||||
Total interest income | 12,527 | 12,150 | 36,674 | 34,771 | ||||||||||||
Interest Expense | ||||||||||||||||
Interest on deposits | 2,712 | 2,381 | 7,935 | 6,610 | ||||||||||||
Interest on FHLB borrowings | - | - | 194 | - | ||||||||||||
Interest on Subordinated debentures | 465 | 466 | 1,396 | 1,985 | ||||||||||||
Total interest expense | 3,177 | 2,847 | 9,525 | 8,595 | ||||||||||||
Net interest income | 9,350 | 9,303 | 27,149 | 26,176 | ||||||||||||
Provision for (recovery of) credit losses | (1,014 | ) | (714 | ) | (539 | ) | (806 | ) | ||||||||
Net interest income after provision for (recovery of) credit losses | 10,364 | 10,017 | 27,688 | 26,982 | ||||||||||||
Noninterest Income | ||||||||||||||||
Service fees on deposits | 122 | 103 | 337 | 303 | ||||||||||||
Fees from debit cards | 183 | 175 | 524 | 529 | ||||||||||||
Income from investment in life insurance | 88 | 91 | 289 | 290 | ||||||||||||
Gain on foreclosed real estate | 26 | - | 26 | - | ||||||||||||
(Loss) on sale of fixed assets | (8 | ) | - | (8 | ) | - | ||||||||||
Other income | 273 | 327 | 760 | 747 | ||||||||||||
Total noninterest income | 684 | 696 | 1,928 | 1,869 | ||||||||||||
Noninterest Expense | ||||||||||||||||
Compensation and related benefits | 4,064 | 3,494 | 12,606 | 9,714 | ||||||||||||
Occupancy | 415 | 396 | 1,238 | 1,242 | ||||||||||||
Data processing | 372 | 366 | 1,164 | 1,117 | ||||||||||||
Advertising | 5 | 6 | 14 | 16 | ||||||||||||
Professional fees | 239 | 400 | 718 | 757 | ||||||||||||
Equipment | 92 | 97 | 278 | 301 | ||||||||||||
Foreclosed real estate and repossessed assets holding costs | 2 | (3 | ) | 5 | 13 | |||||||||||
Amortization of intangible assets | 45 | 45 | 135 | 135 | ||||||||||||
FDIC insurance premiums | 83 | 82 | 247 | 246 | ||||||||||||
Other expense | 561 | 590 | 1,405 | 1,751 | ||||||||||||
Total noninterest expense | 5,878 | 5,473 | 17,810 | 15,292 | ||||||||||||
Net income before tax | 5,170 | 5,240 | 11,806 | 13,559 | ||||||||||||
Income tax expense | 1,440 | 1,442 | 3,116 | 3,788 | ||||||||||||
Net income | $ | 3,730 | $ | 3,798 | $ | 8,690 | $ | 9,771 | ||||||||
Basic earnings per share | $ | 0.41 | $ | 0.35 | $ | 0.89 | $ | 0.91 | ||||||||
Diluted earnings per share | $ | 0.41 | $ | 0.35 | $ | 0.88 | $ | 0.91 | ||||||||
BV FINANCIAL, INC.
Average Balance Sheet for the Quarters ended September 30,
(Dollars in thousands)
For the Three Months Ended September 30, | ||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||
(dollars in thousands) | Average Outstanding Balance | Interest | Average Yield/Rate | Average Outstanding Balance | Interest | Average Yield/Rate | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||||||
Loans | $ | 743,119 | $ | 11,519 | 6.15 | % | $ | 690,170 | $ | 10,522 | 6.05 | % | ||||||||||||
Securities available-for-sale | 35,107 | 329 | 3.72 | % | 36,201 | 353 | 3.87 | % | ||||||||||||||||
Securities held-to-maturity | 6,465 | 46 | 2.82 | % | 9,937 | 83 | 3.31 | % | ||||||||||||||||
Cash, cash equivalents and other interest-earning assets | 57,784 | 633 | 4.38 | % | 86,322 | 1,192 | 5.48 | % | ||||||||||||||||
Total interest-earning assets | 842,475 | 12,527 | 5.90 | % | 822,630 | 12,150 | 5.86 | % | ||||||||||||||||
Noninterest-earning assets | 63,948 | 68,767 | ||||||||||||||||||||||
Total assets | $ | 906,423 | $ | 891,397 | ||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 75,302 | 151 | 0.80 | % | $ | 79,652 | 207 | 1.03 | % | ||||||||||||||
Savings deposits | 117,422 | 136 | 0.46 | % | 128,918 | 89 | 0.27 | % | ||||||||||||||||
Money market deposits | 128,265 | 787 | 2.43 | % | 108,518 | 669 | 2.45 | % | ||||||||||||||||
Certificates of deposit | 205,022 | 1,638 | 3.17 | % | 173,751 | 1,416 | 3.23 | % | ||||||||||||||||
Total interest-bearing deposits | 526,011 | 2,712 | 2.05 | % | 490,839 | 2,381 | 1.92 | % | ||||||||||||||||
Subordinated debentures | 34,983 | 465 | 5.27 | % | 34,827 | 466 | 5.30 | % | ||||||||||||||||
Total borrowings | 34,983 | 465 | 5.27 | % | 34,827 | 466 | 5.30 | % | ||||||||||||||||
Total interest-bearing liabilities | 560,994 | 3,177 | 2.25 | % | 525,666 | 2,847 | 2.15 | % | ||||||||||||||||
Noninterest-bearing demand deposits | 137,179 | 140,039 | ||||||||||||||||||||||
Other noninterest-bearing liabilities | 16,191 | 18,101 | ||||||||||||||||||||||
Total liabilities | 714,364 | 683,806 | ||||||||||||||||||||||
Equity | 192,059 | 207,591 | ||||||||||||||||||||||
Total liabilities and equity | $ | 906,423 | $ | 891,397 | ||||||||||||||||||||
Net interest income | $ | 9,350 | $ | 9,303 | ||||||||||||||||||||
Net interest rate spread | 3.65 | % | 3.71 | % | ||||||||||||||||||||
Net interest-earning assets | $ | 281,481 | $ | 296,964 | ||||||||||||||||||||
Net interest margin | 4.40 | % | 4.49 | % | ||||||||||||||||||||
Average interest-earning assets to interest-bearing liabilities | 150.18 | % | 156.49 | % | ||||||||||||||||||||
BV FINANCIAL, INC.
Average Balance Sheet for the Nine Months ended September 30,
(Dollars in thousands)
For the Nine Months Ended September 30, | ||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||
(dollars in thousands) | Average Outstanding Balance | Interest | Average Yield/Rate | Average Outstanding Balance | Interest | Average Yield/Rate | ||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||||||
Loans | $ | 745,001 | $ | 33,594 | 6.03 | % | $ | 701,310 | $ | 30,481 | 5.79 | % | ||||||||||||
Securities available-for-sale | 35,580 | 1,003 | 3.77 | % | 34,569 | 966 | 3.72 | % | ||||||||||||||||
Securities held-to-maturity | 6,801 | 139 | 2.73 | % | 10,507 | 266 | 3.37 | % | ||||||||||||||||
Cash, cash equivalents and other interest-earning assets | 57,988 | 1,938 | 4.49 | % | 74,720 | 3,058 | 5.46 | % | ||||||||||||||||
Total interest-earning assets | 845,370 | 36,674 | 5.80 | % | 821,106 | 34,771 | 5.64 | % | ||||||||||||||||
Noninterest-earning assets | 64,424 | 68,985 | ||||||||||||||||||||||
Total assets | $ | 909,794 | $ | 890,091 | ||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 77,365 | 482 | 0.83 | % | $ | 83,683 | 681 | 1.08 | % | ||||||||||||||
Savings deposits | 120,136 | 342 | 0.38 | % | 138,474 | 250 | 0.24 | % | ||||||||||||||||
Money market deposits | 126,316 | 2,318 | 2.45 | % | 96,724 | 1,496 | 2.06 | % | ||||||||||||||||
Certificates of deposit | 199,332 | 4,793 | 3.21 | % | 174,896 | 4,183 | 3.19 | % | ||||||||||||||||
Total interest-bearing deposits | 523,149 | 7,935 | 2.03 | % | 493,777 | 6,610 | 1.78 | % | ||||||||||||||||
Federal Home Loan Bank advances | 5,604 | 194 | 4.63 | % | - | - | - | |||||||||||||||||
Subordinated debentures | 34,944 | 1,396 | 5.34 | % | 35,139 | 1,985 | 7.53 | % | ||||||||||||||||
Total borrowings | 40,548 | 1,590 | 5.24 | % | 35,139 | 1,985 | 7.53 | % | ||||||||||||||||
Total interest-bearing liabilities | 563,697 | 9,525 | 2.26 | % | 528,916 | 8,595 | 2.16 | % | ||||||||||||||||
Noninterest-bearing demand deposits | 134,686 | 139,642 | ||||||||||||||||||||||
Other noninterest-bearing liabilities | 16,027 | 17,676 | ||||||||||||||||||||||
Total liabilities | 714,410 | 686,234 | ||||||||||||||||||||||
Equity | 195,384 | 203,857 | ||||||||||||||||||||||
Total liabilities and equity | $ | 909,794 | $ | 890,091 | ||||||||||||||||||||
Net interest income | $ | 27,149 | $ | 26,176 | ||||||||||||||||||||
Net interest rate spread | 3.54 | % | 3.48 | % | ||||||||||||||||||||
Net interest-earning assets | $ | 281,673 | $ | 292,190 | ||||||||||||||||||||
Net interest margin | 4.29 | % | 4.25 | % | ||||||||||||||||||||
Average interest-earning assets to interest-bearing liabilities | 149.97 | % | 155.24 | % | ||||||||||||||||||||
ALLOWANCE FOR CREDIT LOSS - LOANS
(Dollars in thousands)
QTR | YTD | |||||||
9/30/2025 | 9/30/2025 | |||||||
Beginning Balance | $ | 9,159 | $ | 8,522 | ||||
Provision for credit loss -loans | (980 | ) | (387 | ) | ||||
Net Charge-offs (recoveries): | ||||||||
Owner Occupied 1-4 | (3 | ) | (19 | ) | ||||
Non-Owner Occupied 1-4 | (16 | ) | (47 | ) | ||||
Investor Commercial Real Estate | - | - | ||||||
OO Commercial Real Estate | - | - | ||||||
Construction & Land | (1 | ) | (2 | ) | ||||
Farm Loans | - | - | ||||||
Marine & Consumer | 2 | 6 | ||||||
Guaranteed by the US Gov't | - | - | ||||||
Commercial | - | - | ||||||
Net charge-offs (recoveries) | (18 | ) | (62 | ) | ||||
Ending Balance- ACL for Loans | $ | 8,197 | $ | 8,197 | ||||
Balance Reserve for unfunded loan commitments | 203 | 203 | ||||||
Balance Reserve for HTM Securities | 2 | 2 | ||||||
Total ACL | $ | 8,402 | $ | 8,402 | ||||
Provision expense for Unfunded Commitments | (33 | ) | (151 | ) | ||||
Provision expense for HTM Securities | (1 | ) | (1 | ) | ||||
Total other provision expense | $ | (34 | ) | $ | (152 | ) | ||
Total provision for (recovery of ) credit losses | $ | (1,014 | ) | $ | (539 | ) | ||
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.
Three Months ended September 30, | ||||||||
2025 | 2024 | |||||||
Net Income (GAAP) | $ | 3,730 | $ | 3,798 | ||||
Plus(minus) tax adjusted items: | ||||||||
2024 Equity Plan Expenses - tax adjusted | 701 | 279 | ||||||
Non GAAP adjusted net income | $ | 4,431 | $ | 4,077 | ||||
Nine Months ended September 30, | ||||||||
2025 | 2024 | |||||||
Net Income (GAAP) | $ | 8,690 | $ | 9,771 | ||||
Plus(minus) tax adjusted items: | ||||||||
2024 Equity Plan Expenses - tax adjusted | 2,415 | 279 | ||||||
Non GAAP adjusted net income | $ | 11,105 | $ | 10,050 | ||||
SOURCE: BV Financial, Inc.
View the original press release on ACCESS Newswire
FAQ
What did BVFL report for net income in Q3 2025 and nine months 2025?
How large is BV Financial's new stock repurchase program (BVFL) and when does it expire?
How many shares did BVFL repurchase in Q3 2025 and at what average price?
What were BVFL's loans and deposits totals at September 30, 2025?
Why did BVFL's nine-month net income decline year-over-year?
What capital or credit metrics should investors note for BVFL at 9/30/2025?
