BV Financial, Inc. Announces Financial Results
Rhea-AI Summary
BV Financial (NASDAQ:BVFL) reported full-year 2025 net income of $13.5M ($1.43 diluted) versus $11.7M ($1.10) in 2024, and fourth-quarter 2025 net income of $4.8M ($0.57 diluted) versus $2.0M ($0.18) in Q4 2024. Adjusted net income was $16.3M for 2025. Return on average assets and equity for 2025 were 1.48% and 7.01%, respectively; Q4 ROA/ROE were 2.09% and 10.45%. Net loans rose to $748.5M and deposits to $676.1M. The company repurchased 1,823,997 shares for $29.8M and replaced $35.0M of subordinated debt with lower-cost Federal Home Loan Bank borrowings.
Non-performing assets fell to $2.3M and the allowance for credit losses on loans was $6.4M (0.85% of loans) at year-end.
Positive
- Net income increased by 15.4% YoY to $13.5M in 2025
- Adjusted net income rose to $16.3M in 2025
- Non-performing assets declined to $2.3M at year-end
- Replaced $35.0M subordinated debt with lower-cost FHLB advances
Negative
- Stock repurchases of $29.8M reduced stockholders' equity by 6.0%
- Allowance for credit losses on loans decreased 24.7% to $6.4M
- Cash and cash equivalents declined 21% to $55.7M
Key Figures
Market Reality Check
Peers on Argus
BVFL was up 2.32% while peers were mixed: CZWI and PEBK were down, UBFO and OVBC modestly up, and MNSB up 4.33%, suggesting a mainly stock-specific response to the earnings.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Oct 17 | Quarterly earnings update | Positive | +8.0% | Q3 2025 results, loan and deposit growth, large buyback authorization. |
| Jul 17 | Quarterly earnings update | Negative | +0.5% | Q2 2025 earnings down year-over-year amid balance sheet growth. |
| Apr 17 | Quarterly earnings update | Negative | +3.1% | Q1 2025 earnings decline with higher NIM and new buyback program. |
| Jan 27 | Annual earnings report | Negative | -3.5% | 2024 net income down vs 2023 despite loan and asset growth. |
Earnings releases have often produced meaningful moves, with some positive reactions even when results were mixed or down year-over-year.
Over the past year, BV Financial has reported several earnings updates with a mix of modestly lower net income and ongoing balance sheet growth. Events on Jan 27, 2025, Apr 17, 2025, Jul 17, 2025, and Oct 17, 2025 showed steady loan and deposit growth, active share repurchases, and improving asset quality. Price reactions ranged from about -3.5% to +8%, indicating that earnings news has been an important catalyst for BVFL shares.
Historical Comparison
In the past year, 4 earnings releases moved BVFL by an average of 3.77%. Today’s 2.32% move sits within that typical earnings reaction range.
Earnings updates from 2024 into 2025 have shown growing loans and deposits, active share repurchases, and generally improving asset quality, culminating in higher 2025 net income vs 2024.
Market Pulse Summary
This announcement highlights stronger 2025 profitability, with net income of $13.5 million, higher quarterly earnings, and improved asset quality metrics. Balance sheet growth in loans and deposits, combined with substantial share repurchases, frames a shareholder-focused capital approach. At the same time, changes to credit loss modeling, higher compensation costs tied to equity plans, and an executive leadership transition are key factors to monitor in upcoming filings and earnings updates.
Key Terms
allowance for credit losses financial
cecl financial
federal home loan bank financial
AI-generated analysis. Not financial advice.
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
Adjusted net income, a non-GAAP financial metric, was
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% and7.01% , respectively. Return on average assets and return on average equity for the three months ended December 31, 2025 were2.09% and10.45% , respectively.Net loans increased
$19.2 million , or2.6% to$748.5 million at December 31, 2025 compared to$729.2 million at December 31, 2024.Deposits increased
$24.6 million , or3.8% , 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
Cash and Cash Equivalents. Cash and cash equivalents decreased
Net Loans Receivable. Net loans receivable increased
Securities. Securities available for sale ("AFS") decreased
Total Liabilities. Total liabilities increased
Deposits. Total deposits increased
Borrowings. The Company had
Stockholders' Equity. Stockholders' equity decreased
Asset Quality. Non-performing assets at December 31, 2025 totaled
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
Net Interest Income. Net interest income was
Net interest income was
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
Noninterest Income. For the three months ended December 31, 2025, noninterest income totaled
For the year ended December 31, 2025, noninterest income totaled
Noninterest Expense. For the three months ended December 31, 2025 noninterest expense totaled
For the year ended December 31, 2025 noninterest expense totaled
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
At or For the Three Months | At or For the Year | |||||||||||||||
Ended December 31, | Ended December 31, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Performance Ratios(1): | ||||||||||||||||
Return on average assets | 2.09 | % | 0.88 | % | 1.48 | % | 1.32 | % | ||||||||
Return on average equity | 10.45 | % | 3.83 | % | 7.01 | % | 5.77 | % | ||||||||
Interest rate spread(2) | 3.81 | % | 3.59 | % | 3.61 | % | 3.50 | % | ||||||||
Net interest margin(3) | 4.52 | % | 4.34 | % | 4.35 | % | 4.27 | % | ||||||||
Non-interest expense to average assets | 2.34 | % | 2.79 | % | 2.54 | % | 2.42 | % | ||||||||
Efficiency ratio(4) | 50.99 | % | 64.27 | % | 58.52 | % | 57.02 | % | ||||||||
Average interest-earning assets to average interest-bearing liabilities | 146.60 | % | 154.03 | % | 149.10 | % | 154.92 | % | ||||||||
Average equity to average assets | 19.98 | % | 22.91 | % | 21.07 | % | 22.88 | % | ||||||||
Credit Quality Ratios: | ||||||||||||||||
Allowance for credit losses as a percentage of total loans | 0.85 | % | 1.15 | % | 0.85 | % | 1.15 | % | ||||||||
Allowance for credit losses as a percentage of non-performing loans | 284.72 | % | 212.51 | % | 284.72 | % | 212.51 | % | ||||||||
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 | 0.30 | % | 0.57 | % | 0.30 | % | 0.54 | % | ||||||||
Non-performing loans as a percentage of total assets | 0.25 | % | 0.44 | % | 0.25 | % | 0.44 | % | ||||||||
Total non-performing assets as a percentage of total assets | 0.25 | % | 0.46 | % | 0.25 | % | 0.46 | % | ||||||||
Other: | ||||||||||||||||
Number of offices | 12 | 13 | 12 | 13 | ||||||||||||
Number of full-time equivalent employees | 102 | 111 | 102 | 111 | ||||||||||||
Weighted average shares outstanding | 8,454,700 | 10,785,370 | 9,380,039 | 10,678,729 | ||||||||||||
(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
December 31, 2025 | December 31, 2024 | |||||||
(dollars in thousands, except share amounts) | (unaudited) | derived from audited financial statements | ||||||
Assets | ||||||||
Cash | $ | 5,616 | $ | 5,842 | ||||
Interest-bearing deposits in other banks | 50,089 | 64,658 | ||||||
Cash and cash equivalents | 55,705 | 70,500 | ||||||
Equity Investment | 404 | 391 | ||||||
Securities available for sale | 33,226 | 37,259 | ||||||
Securities held to maturity (fair value of | 5,736 | 5,979 | ||||||
Loans held for maturity | 754,921 | 737,760 | ||||||
Allowance for Credit Losses | (6,437 | ) | (8,522 | ) | ||||
Net Loans | 748,484 | 729,238 | ||||||
Foreclosed real estate | - | 159 | ||||||
Premises and equipment, net | 12,493 | 13,224 | ||||||
Federal Home Loan Bank of Atlanta stock, at cost | 2,324 | 1,366 | ||||||
Investment in life insurance | 20,441 | 20,058 | ||||||
Accrued interest receivable | 3,149 | 3,161 | ||||||
Goodwill | 14,420 | 14,420 | ||||||
Intangible assets, net | 651 | 831 | ||||||
Deferred tax assets, net | 7,563 | 8,899 | ||||||
Other assets | 7,617 | 6,336 | ||||||
Total assets | $ | 912,213 | $ | 911,821 | ||||
Liabilities and Stockholders' Equity | ||||||||
Liabilities | ||||||||
Noninterest-bearing deposits | $ | 138,360 | $ | 129,724 | ||||
Interest-bearing deposits | 537,734 | 521,767 | ||||||
Total deposits | 676,094 | 651,491 | ||||||
FHLB borrowings | 35,000 | 15,000 | ||||||
Subordinated debentures | - | 34,883 | ||||||
Other liabilities | 17,315 | 14,948 | ||||||
Total liabilities | 728,409 | 716,322 | ||||||
Stockholders' equity | ||||||||
Preferred stock, | - | - | ||||||
Common stock, | 88 | 106 | ||||||
Paid-in capital | 68,834 | 94,679 | ||||||
Unearned common stock held by employee stock ownership plan | (6,978 | ) | (7,160 | ) | ||||
Retained earnings | 122,990 | 109,495 | ||||||
Accumulated other comprehensive loss | (1,130 | ) | (1,621 | ) | ||||
Total stockholders' equity | 183,804 | 195,499 | ||||||
Total liabilities and stockholders' equity | $ | 912,213 | $ | 911,821 | ||||
BV FINANCIAL, INC.
Consolidated Statements of Income
(dollars in thousands, except per share amounts) | Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
Interest Income | 2025 | 2024 | 2025 | 2024 | ||||||||||||
Loans, including fees | $ | 12,003 | $ | 10,522 | $ | 45,596 | $ | 41,003 | ||||||||
Investment securities available for sale | 323 | 354 | 1,326 | 1,319 | ||||||||||||
Investment securities held to maturity | 46 | 48 | 185 | 314 | ||||||||||||
Other interest income | 660 | 987 | 2,600 | 4,046 | ||||||||||||
Total interest income | 13,032 | 11,911 | 49,707 | 46,682 | ||||||||||||
Interest Expense | ||||||||||||||||
Interest on deposits | 2,770 | 2,432 | 10,704 | 9,042 | ||||||||||||
Interest on FHLB borrowings | 85 | 2 | 279 | 2 | ||||||||||||
Interest on Subordinated debentures | 426 | 465 | 1,823 | 2,451 | ||||||||||||
Total interest expense | 3,281 | 2,899 | 12,806 | 11,495 | ||||||||||||
Net interest income | 9,751 | 9,012 | 36,901 | 35,187 | ||||||||||||
Provision for (recovery of) credit losses | (1,890 | ) | 604 | (2,429 | ) | (203 | ) | |||||||||
Net interest income after provision for (recovery of) credit losses | 11,641 | 8,408 | 39,330 | 35,390 | ||||||||||||
Noninterest Income | ||||||||||||||||
Service fees on deposits | 125 | 123 | 462 | 426 | ||||||||||||
Fees from debit cards | 182 | 177 | 706 | 706 | ||||||||||||
Income from investment in life insurance | 94 | 111 | 383 | 400 | ||||||||||||
Gain on foreclosed real estate | - | - | 26 | - | ||||||||||||
Loss on sale of fixed assets | (24 | ) | - | (32 | ) | - | ||||||||||
Other income | 416 | 233 | 1,175 | 982 | ||||||||||||
Total noninterest income | 793 | 644 | 2,720 | 2,514 | ||||||||||||
Noninterest Expense | ||||||||||||||||
Compensation and related benefits | 3,631 | 4,291 | 16,237 | 14,005 | ||||||||||||
Occupancy | 386 | 374 | 1,624 | 1,616 | ||||||||||||
Data processing | 364 | 364 | 1,528 | 1,480 | ||||||||||||
Advertising | 23 | 7 | 37 | 23 | ||||||||||||
Professional fees | 215 | 252 | 933 | 1,008 | ||||||||||||
Equipment | 92 | 95 | 370 | 396 | ||||||||||||
Foreclosed real estate and repossessed assets holding costs | - | - | 5 | 13 | ||||||||||||
Amortization of intangible assets | 45 | 45 | 180 | 181 | ||||||||||||
FDIC insurance premiums | 82 | 81 | 330 | 326 | ||||||||||||
Other expense | 539 | 697 | 1,943 | 2,450 | ||||||||||||
Total noninterest expense | 5,377 | 6,206 | 23,187 | 21,498 | ||||||||||||
Net income before tax | 7,057 | 2,846 | 18,863 | 16,406 | ||||||||||||
Income tax expense | 2,253 | 895 | 5,368 | 4,683 | ||||||||||||
Net income | $ | 4,804 | $ | 1,951 | $ | 13,495 | $ | 11,723 | ||||||||
Basic earnings per share | $ | 0.57 | $ | 0.18 | $ | 1.44 | $ | 1.10 | ||||||||
Diluted earnings per share | $ | 0.56 | $ | 0.18 | $ | 1.43 | $ | 1.10 | ||||||||
BV FINANCIAL, INC.
Average Balance Sheet for the Quarters ended December 31,
(Dollars in thousands)
For the Three Months Ended December 31, | ||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||
(dollars in thousands) | Average Outstanding Balance | Interest | Average Yield/Rate | Average Outstanding Balance | Interest | Average Yield/Rate | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||||||
Loans | $ | 750,689 | $ | 12,003 | 6.34 | % | $ | 709,668 | $ | 10,522 | 5.88 | % | ||||||||||||
Securities available-for-sale | 34,338 | 323 | 3.73 | % | 38,447 | 354 | 3.65 | % | ||||||||||||||||
Securities held-to-maturity | 6,865 | 46 | 2.66 | % | 6,668 | 48 | 2.86 | % | ||||||||||||||||
Cash, cash equivalents and other interest-earning assets | 63,344 | 660 | 4.16 | % | 68,523 | 987 | 5.74 | % | ||||||||||||||||
Total interest-earning assets | 855,236 | 13,032 | 6.05 | % | 823,306 | 11,911 | 5.74 | % | ||||||||||||||||
Noninterest-earning assets | 65,535 | 68,633 | ||||||||||||||||||||||
Total assets | $ | 920,771 | $ | 891,939 | ||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 84,993 | 197 | 0.92 | % | $ | 87,548 | 196 | 0.89 | % | ||||||||||||||
Savings deposits | 115,959 | 157 | 0.54 | % | 123,838 | 73 | 0.23 | % | ||||||||||||||||
Money market deposits | 123,111 | 737 | 2.38 | % | 117,039 | 777 | 2.63 | % | ||||||||||||||||
Certificates of deposit | 215,725 | 1,679 | 3.09 | % | 171,063 | 1,386 | 3.21 | % | ||||||||||||||||
Total interest-bearing deposits | 539,788 | 2,770 | 2.04 | % | 499,488 | 2,432 | 1.93 | % | ||||||||||||||||
Federal Home Loan Bank advances | 9,348 | 85 | 3.61 | % | 163 | 2 | 4.87 | % | ||||||||||||||||
Subordinated debentures | 34,239 | 426 | 4.94 | % | 34,867 | 465 | 5.29 | % | ||||||||||||||||
Total borrowings | 43,587 | 511 | 4.65 | % | 35,030 | 467 | 5.29 | % | ||||||||||||||||
Total interest-bearing liabilities | 583,375 | 3,281 | 2.23 | % | 534,518 | 2,899 | 2.15 | % | ||||||||||||||||
Noninterest-bearing demand deposits | 134,516 | 134,007 | ||||||||||||||||||||||
Other noninterest-bearing liabilities | 18,890 | 20,471 | ||||||||||||||||||||||
Total liabilities | 736,781 | 688,996 | ||||||||||||||||||||||
Equity | 183,990 | 202,943 | ||||||||||||||||||||||
Total liabilities and equity | $ | 920,771 | $ | 891,939 | ||||||||||||||||||||
Net interest income | $ | 9,751 | $ | 9,012 | ||||||||||||||||||||
Net interest rate spread | 3.81 | % | 3.59 | % | ||||||||||||||||||||
Net interest-earning assets | $ | 271,861 | $ | 288,788 | ||||||||||||||||||||
Net interest margin | 4.52 | % | 4.34 | % | ||||||||||||||||||||
Average interest-earning assets to interest-bearing liabilities | 146.60 | % | 154.03 | % | ||||||||||||||||||||
BV FINANCIAL, INC.
Average Balance Sheet for the Years ended December 31,
(Dollars in thousands)
For the Year Ended December 31, | ||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||
(dollars in thousands) | Average Outstanding Balance | Interest | Average Yield/Rate | Average Outstanding Balance | Interest | Average Yield/Rate | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||||||
Loans | $ | 746,435 | $ | 45,596 | 6.11 | % | $ | 703,411 | $ | 41,003 | 5.81 | % | ||||||||||||
Securities available-for-sale | 35,267 | 1,326 | 3.76 | % | 35,544 | 1,319 | 3.70 | % | ||||||||||||||||
Securities held-to-maturity | 6,816 | 185 | 2.71 | % | 9,542 | 314 | 3.28 | % | ||||||||||||||||
Cash, cash equivalents and other interest-earning assets | 59,338 | 2,600 | 4.41 | % | 73,096 | 4,046 | 5.53 | % | ||||||||||||||||
Total interest-earning assets | 847,856 | 49,707 | 5.86 | % | 821,593 | 46,682 | 5.67 | % | ||||||||||||||||
Noninterest-earning assets | 65,793 | 68,865 | ||||||||||||||||||||||
Total assets | $ | 913,649 | $ | 890,458 | ||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 79,288 | 679 | 0.86 | % | $ | 84,655 | 878 | 1.03 | % | ||||||||||||||
Savings deposits | 119,083 | 499 | 0.42 | % | 134,795 | 323 | 0.24 | % | ||||||||||||||||
Money market deposits | 125,508 | 3,055 | 2.43 | % | 101,831 | 2,274 | 2.23 | % | ||||||||||||||||
Certificates of deposit | 203,464 | 6,471 | 3.18 | % | 173,932 | 5,567 | 3.19 | % | ||||||||||||||||
Total interest-bearing deposits | 527,343 | 10,704 | 2.03 | % | 495,213 | 9,042 | 1.82 | % | ||||||||||||||||
Federal Home Loan Bank advances | 6,547 | 279 | 4.26 | % | 41 | 2 | 4.86 | % | ||||||||||||||||
Subordinated debentures | 34,766 | 1,823 | 5.24 | % | 35,071 | 2,451 | 6.97 | % | ||||||||||||||||
Total borrowings | 41,313 | 2,102 | 5.09 | % | 35,112 | 2,453 | 6.97 | % | ||||||||||||||||
Total interest-bearing liabilities | 568,656 | 12,806 | 2.25 | % | 530,325 | 11,495 | 2.16 | % | ||||||||||||||||
Noninterest-bearing demand deposits | 134,643 | 137,935 | ||||||||||||||||||||||
Other noninterest-bearing liabilities | 17,838 | 19,074 | ||||||||||||||||||||||
Total liabilities | 721,137 | 687,334 | ||||||||||||||||||||||
Equity | 192,512 | 203,124 | ||||||||||||||||||||||
Total liabilities and equity | $ | 913,649 | $ | 890,458 | ||||||||||||||||||||
Net interest income | $ | 36,901 | $ | 35,187 | ||||||||||||||||||||
Net interest rate spread | 3.61 | % | 3.50 | % | ||||||||||||||||||||
Net interest-earning assets | $ | 279,200 | $ | 291,268 | ||||||||||||||||||||
Net interest margin | 4.35 | % | 4.27 | % | ||||||||||||||||||||
Average interest-earning assets to interest-bearing liabilities | 149.10 | % | 154.92 | % | ||||||||||||||||||||
ALLOWANCE FOR CREDIT LOSS - LOANS
(Dollars in thousands)
QTR | YTD | |||||||
12/31/2025 | 12/31/2025 | |||||||
Beginning Balance | $ | 8,197 | $ | 8,522 | ||||
Provision for credit loss -loans | (1,781 | ) | (2,168 | ) | ||||
Net Charge-offs (recoveries): | ||||||||
Owner Occupied 1-4 | (3 | ) | (22 | ) | ||||
Non-Owner Occupied 1-4 | (24 | ) | (70 | ) | ||||
Investor Commercial Real Estate | - | - | ||||||
OO Commercial Real Estate | - | - | ||||||
Construction & Land | - | (3 | ) | |||||
Farm Loans | - | - | ||||||
Marine & Consumer | 6 | 12 | ||||||
Guaranteed by the US Gov't | - | - | ||||||
Commercial | - | - | ||||||
Net charge-offs (recoveries) | (21 | ) | (83 | ) | ||||
Ending Balance- ACL for Loans | $ | 6,437 | $ | 6,437 | ||||
Balance Reserve for unfunded loan commitments | 94 | 94 | ||||||
Balance Reserve for HTM Securities | 2 | 2 | ||||||
Total ACL | $ | 6,533 | $ | 6,533 | ||||
Provision expense for Unfunded Commitments | (108 | ) | (259 | ) | ||||
Provision expense for HTM Securities | (1 | ) | (2 | ) | ||||
Total other provision expense | $ | (109 | ) | $ | (261 | ) | ||
Total provision for (recovery of) credit losses | $ | (1,890 | ) | $ | (2,429 | ) | ||
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 December 31, | ||||||||
2025 | 2024 | |||||||
Net Income (GAAP) | $ | 4,804 | $ | 1,951 | ||||
Plus(minus) tax adjusted items: | ||||||||
2024 Equity Plan Expenses - tax adjusted | 786 | 442 | ||||||
Non GAAP adjusted net income | $ | 5,590 | $ | 2,393 | ||||
Year ended December 31, | ||||||||
2025 | 2024 | |||||||
Net Income (GAAP) | $ | 13,495 | $ | 11,723 | ||||
Plus (minus) tax adjusted items: | ||||||||
2024 Equity Plan Expenses - tax adjusted | 2,777 | 1,133 | ||||||
Non GAAP adjusted net income | $ | 16,272 | $ | 12,856 | ||||
Contact:
Michael J. Dee
Chief Financial Officer
(410) 477- 5000
SOURCE: BV Financial, Inc.
View the original press release on ACCESS Newswire
FAQ
What did BVFL report for net income in 2025 and Q4 2025?
How did BVFL's adjusted net income change in 2025 (BVFL)?
What capital action did BVFL take during 2025 and how much was spent?
What change did BVFL make to its debt during Q4 2025?
How did BVFL's asset quality metrics look at December 31, 2025?
What were BVFL's return on assets and equity for 2025 and Q4 2025?
