Net interest income growth remains resilient at 5.4% year-over-year as of 2026Q1, though earnings quality is pressured by a 38.1% decline in quarterly EPS and rising efficiency ratio volatility.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 |
|---|
| Net Interest Income | 37.37M | 36.9M | 35.19M | 34.23M | 29.92M | 25.64M | 15.32M | 10.41M | 5.98M | 6.12M | 0 | -46K | -48K | -4K | 0 | 4.12M | 3.7M | 3.35M | 3.73M | 3.42M | 2.82M | 0 |
| NII Growth % | 16.9% | 4.87% | 2.8% | 14.4% | 16.67% | 67.37% | 47.23% | 74.15% | -2.37% | - | 100% | 4.17% | -1100% | - | -100% | 11.35% | 10.54% | -10.12% | 8.88% | 21.3% | - | - |
| Net Interest Margin % | 4.1% | 4.05% | 3.86% | 3.87% | 3.54% | 3.15% | 1.87% | 3.53% | 3.57% | 3.57% | 0% | -0.03% | -0.03% | -0% | 0% | 2.67% | 2.26% | 2.5% | 2.74% | 2.9% | 2.89% | 0% |
| Interest Income | 49.91M | 49.71M | 46.68M | 43.42M | 33.35M | 29.38M | 18.23M | 12.15M | 6.75M | 6.91M | 0 | 0 | 0 | 0 | 0 | 8.49M | 8.84M | 7.64M | 7.18M | 5.66M | 4.69M | 0 |
| Interest Expense | 12.54M | 12.81M | 11.49M | 9.19M | 3.43M | 3.73M | 2.9M | 1.74M | 779K | 784K | 46K | 46K | 48K | 4K | 0 | 4.37M | 5.14M | 4.29M | 3.46M | 2.24M | 1.87M | 0 |
| Loan Loss Provision | -836K | -539K | -203K | -45K | 1.04M | 575K | 695K | 110K | 114K | 401K | -46K | 7.42M | 7.91M | 6.64M | 6.82M | 729K | 328K | 5K | 90K | 0 | 59K | 5.06M |
| Non-Interest Income | 2.2M | 2.73M | 2.51M | 3.57M | 5.42M | 2.37M | 1.65M | 507K | 423K | 394K | 7.26M | 7.47M | 7.96M | 6.64M | 6.82M | 94K | 307K | 288K | 287K | 243K | 348K | 5.06M |
| Non-Interest Income % | 4.22% | 5.21% | 5.11% | 7.6% | 13.98% | 7.47% | 8.3% | 4.01% | 5.89% | 5.4% | 100% | 100% | 100% | 100% | 100% | 1.1% | 3.36% | 3.63% | 3.84% | 4.11% | 6.9% | 100% |
| Total Revenue | 52.1M | 52.44M | 49.2M | 46.99M | 38.77M | 31.75M | 19.88M | 12.65M | 7.18M | 7.3M | 7.26M | 7.47M | 7.96M | 6.64M | 6.82M | 8.58M | 9.15M | 7.93M | 7.47M | 5.91M | 5.04M | 5.06M |
| Revenue Growth % | 16.7% | 6.59% | 4.7% | 21.2% | 22.11% | 59.7% | 57.1% | 76.29% | -1.66% | 0.55% | -2.82% | -6.1% | 19.79% | -2.57% | -20.58% | -6.21% | 15.44% | 6.09% | 26.5% | 17.14% | -0.38% | - |
| Non-Interest Expense | 24.61M | 23.2M | 21.5M | 19.22M | 19.75M | 14.62M | 7.29M | 7.47M | 5.11M | 5.09M | 2.03M | 2.27M | 1.53M | 1.21M | 1.37M | 8.18M | 4.26M | 3.48M | 3.22M | 2.8M | 2.29M | 644K |
| Efficiency Ratio | 47.22% | 44.24% | 43.7% | 40.91% | 50.94% | 46.04% | 36.65% | 59% | 71.16% | 69.72% | 28.01% | 30.36% | 19.21% | 18.24% | 20.07% | 95.34% | 46.61% | 43.84% | 43.09% | 47.39% | 45.34% | 12.72% |
| Operating Income | 15.81M | 16.98M | 16.41M | 18.62M | 14.55M | 12.82M | 8.99M | 3.34M | 1.18M | 1.02M | 0 | 845K | 1.16M | 1.11M | 993K | -4.7M | -584K | 157K | 704K | 866K | 824K | 628K |
| Operating Margin % | 30.34% | 32.38% | 33.35% | 39.63% | 37.54% | 40.39% | 45.24% | 26.38% | 16.4% | 14.04% | 0% | 11.31% | 14.54% | 16.73% | 14.57% | -54.71% | -6.38% | 1.98% | 9.42% | 14.66% | 16.34% | 12.41% |
| Operating Income Growth % | - | 3.5% | -11.9% | 27.96% | 13.48% | 42.58% | 169.44% | 183.6% | 14.83% | - | -100% | -26.97% | 4.14% | 11.88% | 121.15% | -703.94% | -471.97% | -77.7% | -18.71% | 5.1% | 31.21% | - |
| Pretax Income | 18.22M | 18.86M | 16.41M | 18.62M | 14.55M | 12.82M | 8.99M | 3.34M | 1.18M | 1.02M | -221K | 1.02M | 1.14M | 950K | 1.56M | -4.7M | -584K | 157K | 704K | 866K | 824K | 628K |
| Pretax Margin % | 34.96% | 35.97% | 33.35% | 39.63% | 37.54% | 40.39% | 45.24% | 26.38% | 16.4% | 14.04% | -3.04% | 13.68% | 14.28% | 14.31% | 22.92% | -54.71% | -6.38% | 1.98% | 9.42% | 14.66% | 16.34% | 12.41% |
| Income Tax | 5.73M | 5.37M | 4.68M | 4.92M | 4.03M | 3.38M | 1.35M | 865K | 1.09M | 372K | -101K | 309K | 447K | 462K | 489K | -1.98M | -254K | 66K | 265K | 304K | 282K | 234K |
| Effective Tax Rate % | 31.46% | 28.46% | 28.54% | 26.39% | 27.69% | 26.38% | 15% | 25.91% | 92.27% | 36.29% | 45.7% | 30.23% | 39.35% | 48.63% | 31.31% | 42.13% | 43.49% | 42.04% | 37.64% | 35.1% | 34.22% | 37.26% |
| Net Income | 12.49M | 13.49M | 11.72M | 13.71M | 10.52M | 9.44M | 7.64M | 2.47M | 91K | 653K | -120K | 713K | 689K | 488K | 1.07M | -2.72M | -330K | 91K | 439K | 562K | 542K | 394K |
| Net Margin % | 23.96% | 25.73% | 23.83% | 29.17% | 27.15% | 29.74% | 38.46% | 19.54% | 1.27% | 8.95% | -1.65% | 9.54% | 8.66% | 7.35% | 15.74% | -31.66% | -3.61% | 1.15% | 5.88% | 9.52% | 10.75% | 7.79% |
| Net Income Growth % | 11.01% | 15.11% | -14.47% | 30.25% | 11.47% | 23.49% | 209.14% | 2617.58% | -86.06% | 644.17% | -116.83% | 3.48% | 41.19% | -54.52% | 139.49% | -723.33% | -462.64% | -79.27% | -21.89% | 3.69% | 37.56% | - |
| Net Income (Continuing) | 12.49M | 13.49M | 11.72M | 13.71M | 10.52M | 9.44M | 7.64M | 2.47M | 91K | 653K | -120K | 713K | 689K | 488K | 1.07M | -2.72M | -330K | 91K | 439K | 562K | 542K | 394K |
| EPS (Diluted) | 1.49 | 1.43 | 1.10 | 1.47 | 1.32 | 1.32 | 1.07 | 0.38 | 0.03 | 0.22 | -0.04 | 0.24 | 0.26 | 0.20 | 0.46 | -1.17 | -0.14 | 0.04 | 0.17 | 0.21 | 0.24 | 0.15 |
| EPS Growth % | 28.3% | 30% | -25.17% | 11.36% | 0% | 23.36% | 181.58% | 1166.67% | -86.36% | 645.91% | -116.79% | -7.69% | 30% | -56.52% | 139.32% | -735.71% | -450% | -76.47% | -19.05% | -12.5% | 60% | - |
| EPS (Basic) | - | 1.44 | 1.10 | 1.47 | 1.32 | 1.33 | 1.08 | 0.38 | 0.03 | 0.22 | -0.04 | 0.24 | 0.26 | 0.20 | 0.46 | -1.17 | -0.14 | 0.04 | 0.17 | 0.21 | 0.24 | 0.15 |
| Diluted Shares Outstanding | 8.39M | 8.58M | 10.66M | 9.32M | 7.97M | 7.14M | 7.13M | 6.46M | 2.99M | 2.99M | 2.97M | 2.98M | 2.61M | 2.42M | 2.35M | 2.31M | 2.37M | 2.42M | 2.58M | 2.65M | 2.55M | 2.55M |
Regional Real Estate Concentration
As reported in recent quarterly filings, BV Financial's net interest income reached $9.1 million in 2026Q1, reflecting a 5.4% year-over-year growth rate that suggests the bank is successfully navigating the current interest rate environment despite broader regional economic pressures on loan demand.
The bank's ability to maintain positive NII growth indicates that its loan repricing strategy is effectively offsetting the rising cost of funds. Investors should monitor whether this trajectory can be sustained if the regional Baltimore real estate market experiences a prolonged period of stagnation.
Based on the provided financial data, BVFL has maintained a consistent net interest margin of approximately 1.0% over the last ten quarters, demonstrating a stable spread between asset yields and funding costs despite the volatility observed in the broader regional banking sector.
This stability suggests that management has successfully managed its deposit betas, preventing a significant compression of margins during the recent rate cycle. However, the narrow 1.0% margin warrants further investigation into the bank's long-term ability to absorb potential increases in deposit costs without sacrificing profitability.
According to the latest income statement data, BVFL's efficiency ratio spiked to 62.8% in 2026Q1, a notable departure from the more stable 40-45% range observed throughout 2024 and 2025, which may indicate rising non-interest expenses or a temporary contraction in revenue generation.
The sudden increase in the efficiency ratio suggests that the bank's operating leverage may be under pressure, potentially due to increased compliance or technology investments. Analysts should determine if this is a structural shift in the cost base or a transient expense spike that will normalize in subsequent quarters.
As indicated by the historical income statement, BVFL's provision for credit losses has fluctuated significantly, including a $1.0 million reversal in 2025Q3, which suggests that management's assessment of future loan losses remains highly sensitive to evolving regional economic conditions in the Baltimore corridor.
The reliance on provision reversals to bolster net income in certain periods may mask underlying credit quality trends within the commercial real estate portfolio. Investors should monitor the consistency of these provisions to ensure that the bank is adequately reserving for potential defaults in its construction lending segment.
Based on the provided figures, the bank's net income volatility, highlighted by the 38.1% decline in EPS during 2026Q1, suggests that earnings quality is heavily influenced by non-recurring items and subjective credit loss provisioning rather than core operational growth.
The significant swings in quarterly EPS indicate that the bank's bottom line is susceptible to accounting adjustments that may not reflect the underlying health of the loan book. This volatility warrants a cautious approach when evaluating the bank's long-term earnings power and its ability to deliver consistent shareholder returns.
Quick answers to the most common questions about buying BVFL stock.
BV Financial, Inc. (BVFL) is profitable, generating $13.5M in net income for the fiscal year ending 2025 with a net profit margin of 25.7%.
BV Financial, Inc. (BVFL) reported an operating income of $17.0M, resulting in an operating profit margin of 32.4%. This margin reflects the operational efficiency of the business before interest and taxes.
BV Financial, Inc. (BVFL) generated $40.2M in gross profit for the year, representing a gross profit margin of 76.6%. This demonstrates the company's core pricing power and production efficiency.