BV Financial, Inc. reported its financial results for the second quarter of 2025, revealing a net income of $2.9 million, or $0.29 per diluted share, a decrease from $3.4 million, or $0.32 per diluted share, in the same period last year. For the first half of 2025, net income totaled $5.0 million, down from $6.0 million in the prior year. The decline in profitability was attributed to increased provisions for credit losses and higher compensation expenses, despite a rise in net interest income, which reached $9.2 million for the quarter, compared to $8.9 million a year earlier.
Total assets for BV Financial stood at $908.3 million as of June 30, 2025, a slight decrease of $3.5 million, or 0.4%, from $911.8 million at the end of 2024. This reduction was primarily due to the repayment of $15 million in Federal Home Loan Bank (FHLB) borrowings, which was partially offset by an increase in loans. The company reported total loans of $751.6 million, an increase of $13.8 million, or 1.9%, from the previous period, driven by growth in owner-occupied and commercial loans.
The company’s allowance for credit losses rose to $9.2 million, representing 1.22% of total loans, compared to 1.15% at the end of 2024. This increase reflects a proactive approach to managing credit risk amid changing economic conditions. Non-performing assets totaled $4.5 million, slightly up from $4.2 million at the end of 2024, with a notable increase in commercial non-performing loans attributed to a specific loan relationship being placed on non-accrual status.
On the operational front, total deposits increased by $7.4 million, or 1.1%, to $658.9 million, with noninterest-bearing deposits rising by 3.7%. The company also reported a significant increase in brokered deposits, which reached $50.3 million, compared to $10 million a year earlier. BV Financial continues to maintain a strong liquidity position, with a $165.5 million line of credit available from the FHLB, ensuring it can meet its funding commitments.
Looking ahead, BV Financial remains focused on navigating the current economic landscape while capitalizing on growth opportunities. The company is committed to maintaining its capital adequacy and liquidity, with management expressing confidence in its ability to retain a significant portion of maturing time deposits. The outlook remains cautiously optimistic, with ongoing evaluations of market conditions and strategic adjustments as necessary.
About BV Financial, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.