secwatch.observer — SEC 8-K summary
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Issuer:     BV Financial, Inc. (BVFL)
CIK:        0001302387
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000950170-24-046809
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1302387/000095017024046809/0000950170-24-046809-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1302387/000095017024046809/bvfl-20240422.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-046809

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer