BV Financial, Inc., the holding company for BayVanguard Bank, has announced its financial results for the quarter ending June 30, 2025. The company reported a net income of $2.9 million, or $0.29 per diluted share, compared to a net income of $3.4 million, or $0.32 per diluted share, for the same quarter in 2024. For the six-month period ending June 30, 2025, net income was $5.0 million, or $0.50 per diluted share, down from $6.0 million, or $0.52 per diluted share, for the same period in 2024. The company attributed the decrease in net income to higher provisions for credit losses and noninterest compensation expenses, which were partially offset by an increase in net interest income. Adjusted net income, a non-GAAP financial metric, was $3.7 million for the quarter compared to $3.4 million in the same quarter of the previous year. Total deposits saw an increase of $7.4 million, or 1.1%, reaching $658.9 million by June 30, 2025. Interest-bearing deposits increased by $2.6 million to $524.4 million, while noninterest-bearing deposits rose by $4.8 million to $134.5 million during the same period. Stockholders' equity grew by $2.5 million, reaching $198.0 million by the end of the quarter. Additionally, the company successfully paid off all $15.0 million in borrowings from the Federal Home Loan Bank of Atlanta during the quarter. Net loans also increased by $13.2 million, or 1.8%, reaching $742.4 million. The company recorded provisions for credit losses of $178,000 for the quarter and $475,000 for the six-month period ending June 30, 2025. Non-accrual loans increased by $400,000 to $4.4 million during the same timeframe. Return on average assets and return on average equity for the quarter were reported at 1.26% and 5.78%, respectively.