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Contact : Michael J. Dee Chief Financial Officer ( 410 ) 477-5000 BV FINANCIAL , INC . ANNOUNCES FINANCIAL RESULTS Baltimore , Maryland , July 23 , 2021– BV Financial , Inc. ( OTCBB : BVFL ) , the holding company for BayVanguard Bank ( the “ Bank ” ) , today reported net income of $ 1.9 million , or $ 0.27 per diluted share , for the quarter ended June 30 , 2021 compared to net income of $ 3.8 million , or $ 0.53 per diluted share , for the quarter ended June 30 , 2020. Net income for the six- month period ended June 30 , 2021 was $ 4.6 million or $ 0.65 per diluted share compared to net income of $ 4.4 million or $ 0.63 per diluted share in the six - month period ended June 30 , 2020 . The prior three and six months results include a $ 3.3 million gain from bargain purchase that resulted from the acquisition of MB Bancorp and its subsidiary , Madison Bank of Maryland on February 29 , 2020 Non - performing assets at June 30 , 2021 totaled $ 8.3 million consisting of $ 6.5 million in nonperforming loans and $ 1.8 million in other real estate owned , compared to $ 8.4 million at December 31 , 2020 , consisting of $ 5.6 million in non - performing loans and $ 2.8 million in other real estate owned . At June 30 2021 , the loan loss allowance was $ 2.1 million , which represented 0.35 % of total loans and 32.9 % of non - performing loans compared to $ 1.8 million at December 31 , 2020 , which represented 0.30 % of total loans and 32.5 % of non - performing loans . In addition , at June 30 , 2021 , the Bank had a credit impairment valuation allowance of $ 6.0 million that is not included in the Bank's allowance for loan loss estimate which is in accordance with U.S. Generally Accepted Accounting Principles ( “ GAAP ” ) . The credit impairment allowances were established for loans acquired in the Delmarva Bancshares , MB Bancorp , Kopernik and Vigilant mergers . At June 30 , 2021 , BV Financial , Inc. had total assets of $ 807.6 million , net loans of $ 600.5 million , deposits of $ 676.4 million and total stockholders ' equity of $ 78.5 million compared to $ 815.6 million , $ 607.1 million , $ 675.1 million and $ 74.0 million at December 31 , 2020 , respectively . Bay Vanguard's Tier 1 leverage capital ratio was 11.17 % at June 30 , 2021 compared to 12.97 % at December 31 , 2020. This ratio and the Bank's other capital measurements continue to exceed all regulatory standards for “ well - capitalized ” financial institutions . This press release may contain certain forward - looking statements that are based on management's current expectations regarding economic , legislative and regulatory issues that may impact the Company's earnings in future periods . Factors that could cause future results to vary materially from current management expectations include , but are not limited to , general economic conditions , changes in interest rates , deposit flows , real estate values and competition , changes in accounting principles , policies or guidelines , changes in legislation or regulation and other economic , competitive , governmental , regulatory and technological factors affecting the Company's operations , pricing , products and services .