Quarterly ResultApr 24, 2026, 04:31 PM
BV Financial Net Income Drops to $1.1M in Q1 2026
AI Summary
BV Financial, Inc. reported a significant decrease in net income for the quarter ended March 31, 2026, falling to $1.1 million or $0.13 per diluted share, compared to $2.1 million or $0.21 per diluted share in the prior year. This decline was impacted by a $2.2 million payment to the former Co-President & CEO. However, adjusted net income, a non-GAAP metric, showed an increase to $3.3 million from $2.9 million year-over-year, indicating underlying operational strength despite the one-time expense.
Key Highlights
- Net income decreased to $1.1 million ($0.13 per diluted share) for Q1 2026.
- Net income was $2.1 million ($0.21 per diluted share) for Q1 2025.
- Adjusted net income rose to $3.3 million for Q1 2026 from $2.9 million in Q1 2025.
- Former Co-President & CEO received a $2.2 million payment in Q1 2026.
- Net interest margin and spread were 4.36% for the quarter.