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BV Financial, Inc. plans a stock repurchase program for up to 10% of its outstanding common shares, or approximately 861,000 shares, after receiving a non-objection from the Federal Reserve Bank of Richmond.
The new program is expected to begin after the company completes its current repurchase authorization, which has about 45,000 shares remaining. Future buybacks may be made in open-market or private transactions, block trades, or under Rule 10b5-1 trading plans, and will follow Rule 10b-18 and other legal requirements. The company is not obligated to repurchase any specific number of shares or to do so within a set timeframe.
BV Financial, Inc. director Joseph S. Galli reported a series of sales of Common Stock on April 28, 2026, totaling 6,000 shares held indirectly through an IRA at prices between $20.11 and $20.235 per share.
After these sales, his IRA holds 41,341 shares, in addition to 80,309 shares held directly and 12,100 shares held through a retirement plan. He also holds stock options over 36,746 shares at an exercise price of $14.25, vesting 25% per year from September 6, 2025 and expiring September 6, 2034; some Common Stock holdings include restricted stock with the same vesting schedule.
BV Financial, Inc., parent of BayVanguard Bank, reported net income of $1.1 million, or $0.13 per diluted share, for the quarter ended March 31, 2026, down from $2.1 million, or $0.21, a year earlier, mainly due to a $2.2 million executive transition payment. Non-GAAP adjusted net income rose to $3.3 million from $2.9 million, reflecting underlying performance excluding equity plan expenses and the transition cost.
Net interest income increased to $9.1 million from $8.6 million, with net interest margin improving to 4.36% from 4.12% as lower-cost FHLB borrowings replaced subordinated debt and loan yields rose. Loans declined to $735.6 million and deposits to $673.5 million, while non-performing loans remained low at 0.36% of total loans and the allowance for credit losses covered 282.9% of non-performing loans.
BV Financial, Inc. is holding its 2026 annual meeting on May 7 in Essex, Maryland, asking stockholders to elect three directors for three-year terms and ratify the appointment of Crowe LLP as independent auditor for 2026.
The proxy outlines Board committee structures, director qualifications, and stock ownership, including AllianceBernstein L.P. at 10.38% and an employee stock ownership plan at 9.71% of the 8,790,568 shares outstanding as of March 13, 2026. It details 2025 director fees, executive pay, equity incentives, and change-in-control and retirement arrangements, including a separation and consulting agreement with former Co-CEO David Flair and an employment agreement and salary continuation plan for CEO Timothy Prindle.
BV Financial, Inc. filed its annual report describing a community bank with $912.2 million in assets, $754.9 million of loans and $676.1 million of deposits as of December 31, 2025. Commercial real estate is its largest exposure, at $401.4 million or 53.2% of the loan portfolio, with a significant portion secured by properties outside Maryland.
One- to four-family residential mortgages total $258.5 million, or 34.2% of loans. Credit quality metrics are strong, with non-performing assets of $2.3 million, equal to 0.25% of total assets and down from $4.2 million a year earlier. The allowance for credit losses stands at $6.4 million, or 0.85% of total loans, after a net recovery in 2025.
The bank funds itself primarily through core deposits, with a balanced mix of noninterest-bearing checking, interest-bearing checking, money market, savings and certificates of deposit, and holds $183.0 million of available liquidity against uninsured and unsecured deposits of $99.2 million. Borrowings include $35.0 million of Federal Home Loan Bank advances, and the company redeemed $35.0 million of subordinated debt in 2025, supporting a year-end stockholders’ equity position of $183.8 million.
The Vanguard Group filed an amendment to its Schedule 13G reporting 0 shares and 0% beneficial ownership of BV Financial Inc common stock. The filing states that following an internal realignment effective January 12, 2026, certain Vanguard subsidiaries will report disaggregated holdings and The Vanguard Group, Inc. no longer is deemed to beneficially own securities held by those subsidiaries, in reliance on SEC Release No. 34-39538 (January 12, 1998). The amendment is signed by Ashley Grim, Head of Global Fund Administration.
BV Financial, Inc. director Joseph S. Galli reported open-market sales of a total of 1,500 shares of Common Stock on February 26, 2026. The trades, executed indirectly through an IRA, were completed at prices ranging from $19.60 to $19.65 per share.
Following these sales, the IRA held 20,933 common shares. Separately, Galli reported direct holdings of 81,309 common shares and 36,746 stock options, plus 38,508 common shares held indirectly through a retirement plan. Certain restricted stock and options vest 25% per year beginning September 6, 2025.
Fidelity Brokerage Services LLC reported multiple sales of BVFL common shares. The filing lists a mix of open-market sales on various dates and a private placement entry. Examples include 21,500 shares on 09/12/2023 (private placement) and 5,205 shares on 05/23/2023. The transactions are listed by date and sale method.
BV Financial, Inc. changed its independent auditor, with the Board’s Audit Committee approving the dismissal of Forvis Mazars, LLP effective after completion of the audit for the year ended December 31, 2025 and filing of the 2025 Form 10-K.
At the same time, the Audit Committee approved engaging Crowe LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2026, subject to Crowe’s standard client acceptance procedures and an engagement letter. The company reports that Forvis Mazars’ audit reports for 2023 and 2024 were clean and that there were no disagreements or reportable events with Forvis Mazars during those years or subsequent interim periods.