**BV Financial, Inc. (BVFL) reported a net income of 13 cents per share for the quarter ending March 31, 2026, a decrease of 38% from 21 cents per share a year earlier. The company’s net income fell to $1.1 million, down 48% from $2.1 million in the previous year. Shares declined by 2%, underperforming the S&P 500 index’s slight gain of 0.5%.**
**Adjusted net income rose 13% to $3.3 million, with net interest income up 5% to $9.1 million, reflecting a higher net interest margin of 4.36%. Loans decreased by $19.3 million, or 2.6%, to $735.6 million, while deposits edged down 0.4% to $673.5 million. The effective tax rate rose sharply to 46.8%, influenced by a $2.2 million one-time executive transition payment.**
**Profitability ratios weakened, with return on average assets dropping to 0.48% from 0.92%, and the efficiency ratio deteriorating to 78.82% from 67.36%. The company maintained a strong reserve position, with the allowance for credit losses at $6.4 million, covering 283% of non-performing loans.**
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