BV Financial, Inc.
For the period ended Apr 3, 2025. Filed Apr 3, 2025.
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Apr 3, 2025 · Filed Apr 3, 2025
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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment No. ____)
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| ☐ | Preliminary Proxy Statement |
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| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| ☒ | Definitive Proxy Statement |
| ☐ | Definitive Additional Materials |
| ☐ | Soliciting Material under §240.14a-12 |
BV Financial, Inc.
(Name of Registrant as Specified In Its Charter)
N/A
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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April 3, 2025
Dear Shareholder:
The Company is excited about the completion of our first full year as a public company with our stock reaching a high of $18.19 per share and ending the year at $17.22 per share, representing a return of 72.20% from our offering price of $10.00 per share.
Our net income declined for the first time in 3 years to $11.7 million or $1.09 per share producing a return on average assets of 1.32% and a return on average equity of 5.77%.
As part of our continuing evaluation of the Bank’s operation, we determined that it was in the Bank’s best interest to close our Aberdeen office. This closure had a minimal impact on our deposits.
In the fourth quarter, the Company began a stock buy back program announcing the intention to purchase up to 10% of the outstanding stock. The full 10% repurchase was completed in January 2025.
We are pleased to announce that S & P rated the Bank as the 5 thbest performing community bank under $10 billion in the Northeast United States for 2024.
Management and the Board continue to focus on deploying our capital in a manner that will provide our shareholders with the best possible return on their investment. We realize that this process may take several years to complete in a safe and sound manner.
Finally, we would like to thank all our shareholders for their continued support of the Company.
Sincerely,
| Timothy L. Prindle | David M. Flair |
|---|---|
| Co-President and Chief Executive Officer | Co-President and Chief Executive Officer |
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