BV Financial Q4 net income falls to $0.28 diluted EPS; deposits drop 7.4% YoY

BV Financial, Inc.

2023-FY EPS reported $1.47

Q4 net income $3.0M ($0.28 diluted EPS) vs $2.7M ($0.34) in Q4 2022; full-year net income $13.7M ($1.47) up from $10.5M ($1.32).
Net loans rose 5.6% to $696.2M; deposits fell 7.4% to $634.1M, with noninterest-bearing deposits down 15.1%.
Total equity soared 103.6% to $199.1M after July 2023 stock conversion raised $86.9M (9.8M shares at $10).
Net interest margin narrowed to 4.30% in Q4 from 4.45% a year ago; noninterest income fell sharply to $698K from $2.3M.
Non-performing assets increased to $10.7M (82.9% ACL coverage) vs $7.9M a year earlier.

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