BV Financial Q1 2024 net income $2.6M ($0.24 EPS) vs $3.1M ($0.39 EPS) YoY

BV Financial, Inc.

2024-Q1 EPS reported $0.24

Net income $2.6M, diluted EPS $0.24, down from $3.1M and $0.39 in Q1 2023.
$3.0M junior sub debt pay-off caused $566K write-off, increasing interest expense and lowering net income.
Net interest margin 3.91% vs 4.34% YoY, as cost of interest-bearing liabilities rose 125 bps.
Noninterest expense rose to $4.9M from $4.7M due to higher compensation and fraud losses.
Loans grew 0.56% to $708.7M; deposits up 0.85% to $639.5M; nonperforming loans $10.7M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BV Financial, Inc. reported the three months ended March 31, 2024 results: net income $2.6 million, EPS $0.24 per diluted share.

Period: the three months ended March 31, 2024
Net income: $2.6 million
EPS: $0.24 per diluted share
Result: reported results

Exact text from the filing

On April 22, 2024, BV Financial, Inc. (the “Company”), the holding company for BayVanguard Bank, issued a press release announcing its financial results for the three months ended March 31, 2024.

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BV Financial, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-046809

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