Welcome to our dedicated page for Bv Financial news (Ticker: BVFL), a resource for investors and traders seeking the latest updates and insights on Bv Financial stock.
BV Financial, Inc. (BVFL), a federally-chartered savings and loan holding company, serves as your central hub for all official corporate news and financial updates. This page aggregates essential information for stakeholders tracking the company's performance in traditional banking services and community-focused financial solutions.
Access timely updates including quarterly earnings reports, regulatory filings, product launches, and strategic initiatives. Our curated collection ensures investors and analysts can efficiently monitor developments in retail banking services, deposit products, and risk management practices.
Discover comprehensive coverage of BVFL's operations spanning consumer banking updates, business lending activities, and compliance milestones. The repository maintains strict focus on verified corporate communications while providing context for market positioning within the savings and loan sector.
Bookmark this page for direct access to BV Financial's latest announcements, including dividend declarations, leadership changes, and community reinvestment programs. Regular updates ensure you stay informed about this institution's commitment to stable growth and customer-centric financial services.
BV Financial, Inc. (OTC Pink: BVFL) has announced a Plan of Conversion and Reorganization to transition from a mutual holding company to a stock holding company. The Bay-Vanguard, M.H.C., Inc. will merge into the Company, affecting around 86.6% of outstanding shares. Minority stockholders will exchange their shares for new common stock based on an established exchange ratio. A stock offering will be available primarily to eligible depositors of the Bank as of December 31, 2021. The transaction, pending necessary approvals, is expected to finalize in Q3 2023. Legal and marketing advice is provided by Luse Gorman, PC and Performance Trust Capital Partners, respectively.
BV Financial, Inc. (BVFL) reported net income of $2.6 million or $0.35 per diluted share for Q3 2022, up from $2.2 million or $0.31 per diluted share in Q3 2021. For the six-month period ending September 30, 2022, net income rose to $7.8 million or $1.05 per diluted share, compared to $6.8 million or $0.96 in the prior year. Total assets increased to $848.4 million. However, non-performing assets rose to $8.5 million, with a lower allowance coverage of 51.1% against non-performing loans. The Bank's Tier 1 leverage capital ratio improved to 12.70%.
BV Financial, Inc. (OTC:BVFL) reported a net income of $2.8 million or $0.37 per diluted share for Q2 2022, an increase from $1.9 million or $0.27 per share in Q2 2021. For the first half of 2022, net income rose to $5.2 million or $0.70 per share from $4.6 million or $0.65 per share in the same period last year. Non-performing assets grew to $6.4 million, while the loan loss allowance increased to $3.1 million. Total assets reached $857.3 million, reflecting robust growth in loans and deposits.
BV Financial, Inc. (OTC PINK:BVFL) reported a net income of $2.4 million, or $0.33 per diluted share, for Q1 2022, down from $2.7 million, or $0.38 per diluted share in Q1 2021. Notable events include $0.6 million in other income from a loan payoff and a $0.3 million gain on a bargain purchase from the NASB merger, offset by $0.3 million in related conversion expenses. Non-performing assets increased to $5.8 million, and the loan loss allowance stood at $2.9 million, or 0.45% of total loans. Total assets rose to $857.1 million, reflecting strong capital ratios exceeding regulatory requirements.
BV Financial, Inc. (OTC PINK: BVFL) reported a net income of $9.4 million, or $1.32 per diluted share, for the year ended December 31, 2021, up from $7.6 million, or $1.07 per share for 2020. Total assets stood at $815.1 million, with net loans at $584.4 million and deposits at $680.0 million. Non-performing assets decreased to $4.4 million, improving from $8.5 million in 2020. The Tier 1 leverage capital ratio was 11.79%, indicating continued compliance with regulatory standards. The acquisition of North Arundel Bank was completed on January 1, 2022.
BV Financial, Inc. (OTC PINK: BVFL) announced the acquisition of North Arundel Bank on January 4, 2022. This transaction involves the issuance of 251,004 shares of common stock to its parent mutual holding company, Bay-Vanguard, M.H.C., Inc. The combined assets of BayVanguard Bank now amount to approximately $835 million, with $713 million in deposits and $107 million in stockholders' equity. The conversion of data processing systems is expected around March 5, 2022.
BV Financial, Inc. (OTC PINK:BVFL) reported a net income of $2.2 million or $0.31 per diluted share for Q3 2021, up from $1.5 million or $0.20 per diluted share in Q3 2020. Year-to-date income stood at $6.8 million or $0.96 per diluted share, compared to $5.9 million or $0.82 in the same period in 2020. Non-performing assets decreased to $8.1 million from $8.4 million at year-end 2020. Total assets amounted to $807.4 million, with a strong Tier 1 leverage capital ratio of 11.54%.
BV Financial, Inc. (OTC PINK:BVFL) announced a merger with North Arundel Savings Bank, enhancing its presence in Anne Arundel County. Under the merger agreement, North Arundel's depositors will retain their rights as depositors of BayVanguard Bank, the surviving entity. This transaction is expected to be accretive to BV Financial's earnings per share for 2022, increasing consolidated assets from approximately $801 million to $848 million. The merger is slated for completion in Q4 2021 or Q1 2022, pending regulatory approvals.
BV Financial, Inc. (OTC PINK:BVFL) reported a net income of $1.9 million ($0.27 per diluted share) for Q2 2021, a decline from $3.8 million ($0.53 per diluted share) in Q2 2020. For the first half of 2021, net income rose to $4.6 million ($0.65 per diluted share) from $4.4 million ($0.63 per diluted share) in H1 2020. Non-performing assets totaled $8.3 million as of June 30, 2021, slightly down from $8.4 million at year-end 2020. Total assets were $807.6 million, with a Tier 1 leverage capital ratio of 11.17%, still above regulatory standards.
BV Financial, Inc. (OTC PINK:BVFL) held its annual stockholders' meeting on May 6, 2021, where three directors: Joseph S. Galli, Kim C. Lidell, and Timothy L. Prindle were elected for three-year terms. Stockholders approved the 2021 Equity Incentive Plan, which has received approval from the Federal Reserve Bank. Additionally, Rowles & Company, LLP was ratified as the independent auditor for the fiscal year ending December 31, 2021. BV Financial is the parent company of BayVanguard Bank, serving the Baltimore area.
FAQ
What is the current stock price of Bv Financial (BVFL)?
What is the market cap of Bv Financial (BVFL)?
