BV FINANCIAL, INC. ANNOUNCES FINANCIAL RESULTS

Contact: Michael J. Dee Chief Financial Officer (410) 477- 5000 BV FINANCIAL, INC. ANNOUNCES FINANCIAL RESULTS Baltimore, Maryland, April 24, 2026– BV Financial, Inc. (NASDAQ: BVFL), (the “Company”) the holding company for BayVanguard Bank (the “Bank”), reported net income of $1.1 million or $0.13 per diluted share for the quarter ended March 31, 2026 compared to net income of $2.1 million or $0.21 per diluted share for the quarter ended March 31, 2025. Adjusted net income, a non-GAAP financial metric, was $3.3 million for the quarter ended March 31, 2026 compared to $2.9 million for the quarter ended March 31, 2025. For a reconciliation of net income as reported and non-GAAP adjusted net income, see the table below. Financial Highlights • As previously disclosed in a Form 8-K file with the Securities and Exchange Commission, former Co-President & CEO David Flair resigned in January. In connection with his resignation, he received a payment of $2.2 million in the quarter ended March 31, 2026. • The Company generated strong net interest margins and net interest spread of 4.36% and 3.68%, respectively in the quarter ended March 31, 2026 compared to 4.12% and 3.37% in the quarter ended March 31, 2025. • Share repurchases of 102,076 shares of common stock at a weighted average price of $18.72 were executed in the quarter ended March 31, 2026. • Return on average assets and return on average equity for the quarter ended March 31, 2026 were 0.48% and 2.38%, respectively. Return on average assets and return on average equity for the three months ended March 31, 2025 were 0.92% and 4.28%, respectively. • Loans decreased $19.3 million, or -2.56% to $735.6 million at March 31, 2026 compared to $754.9 million at December 31, 2025. • Deposits decreased $2.6 million, or -0.38%, to $673.5 million at March 31, 2026 from $676.1 million at December 31, 2025. Financial Condition Total Assets. Total assets were $910.9 million at March 31, 2025, a decrease of $1.4 million, or 0.2%, from $912.2 million at December 31, 2025. The decrease was due primarily to the decrease of $19.3 million in loans, partially offset by an increase of $18.9 million in cash and cash equivalents. Cash and Cash Equivalents. Cash and cash equivalents increased $18.9 million, or 33.9%, to $74.6 million at March 31, 2026 from $55.7 million at December 31, 2025. The increase in cash was primarily a result of the pay-downs in loans. Net Loans Receivable. Loans receivable decreased $19.3 million, or 2.6%, to $735.6 million at March 31, 2026 from $754.9 million at December 31, 2025. Real estate loans decreased $11.3 million while consumer and commercial loans decreased $8.0 million. Securities. Securities available for sale decreased by $336,000, or 1.0%, from December 31, 2025 as paydowns and maturities were not fully replaced with new purchases. The held-to-maturity portfolio experienced a slight decrease due to paydowns. Total Liabilities. Total liabilities decreased $1.2 million, or 0.16%, to $727.2 million at March 31, 2026 from $728.4 million at December 31, 2025. The decrease was due primarily to the decrease in deposits offset by an increase in other liabilities. Deposits. Total deposits decreased $2.6 million, or 0.38% to $673.5 million at March 31, 2026 from $676.1 million at December 31, 2025. Interest-bearing deposits decreased $3.5 million, or 0.7%, to $534.2 million at March 31, 2026 from $537.7 million at December 31, 2025. Noninterest bearing deposits increased $1.0 million, or 0.7%, to $139.3 million at March 31, 2026 from $138.4 million at December 31, 2025. Federal Home Loan Bank Borrowings. The Company had $35 million in Federal Home Loan Bank borrowings at March 31, 2026 and December 31, 2025. Stockholders’ Equity. Stockholders’ equity decreased $167,000, or 0.1%, to $183.6 million at March 31, 2026 from $183.8 million at December 31, 2025 a due to $2.0 million in stock repurchases offset by net income, and the impact of equity compensation plans. Asset Quality. Non-performing loans at March 31, 2026 totaled $2.6 million, compared to $2.3 million at December 31, 2025. The Company had no foreclosed real estate at either period. At March 31, 2026, the allowance for credit losses on loans was $6.4 million, which represented 0.87% of total loans and 282.9% of non-performing loans compared to $6.4 million at December 31, 2025, which represented 0.85% of total loans and 284.72% of non-performing loans. Comparison of Operating Results for the Three Months Ended March 31, 2026 and 2025 Net Income. Net income was $1.1 million, or $0.13 per diluted share, for the quarter ended March 31, 2026 compared to net income of $2.1 million or $0.21 per diluted share, for the quarter ended March 31, 2025. The decrease was primarily due to the previously-noted executive payout, offset by higher net interest income. Net Interest Income. Net interest income was $9.1 million for the three months ended March 31, 2026 compared to $8.6 million for the three months ended March 31, 2025. The net interest margin for the three months ended March 31, 2026 was 4.36% compared to 4.12% for the three months ended March 31, 2025. The increase in net interest income was due primarily to the Bank's utilization of lower cost Federal Home Loan Bank borrowings to replace the $35.0 million in subordinated debt that was paid off in December 2025 and higher rates earned on the loan portfolio, offset by lower yields on other interest-earning assets. Provision for Credit Losses. The Company recorded a recovery of credit losses of $11,000 for the three months ended March 31, 2026 compared to a provision of $297,000 for the three months ended March 31, 2025. Noninterest Income. For the three months ended March 31, 2026, noninterest income totaled approximately $528,000 compared to $530,000 for the quarter ended March 31, 2025. Noninterest Expense. For the three months ended March 31, 2026, noninterest expense totaled $7.6 million compared to $6.2 million for the three months ended March 31, 2025. Compensation and benefits expenses increased $1.3 million, or 27.8% primarily due to the executive payout noted above and regular merit salary increases somewhat offset by lower equity compensation costs of $0.5 million. Other expenses increased $141,000 or 39.6%. Income taxes. For the three months ended March 31, 2026, income tax expense was $961,000 for an effective tax rate of 46.8%. In the quarter ended March 31, 2025, income tax expense was $599,000 for an effective tax rate of 22.2%. The increase in the effective tax rate is primarily attributable to the non-deductible portion of the executive transition payment. Forward-Looking Statements 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, increased competitive pressures, the effects of inflation, potential recessionary conditions, general economic conditions or conditions within the securities markets, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Department of the Treasury and the Board of Governors of the Federal Reserve Board, the impact of the imposition of tariffs and any retaliatory responses, changes in the quality, size and composition of our loan and securities portfolios, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio, changes in demand for our products and services, accounting and tax changes, 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, the current or anticipated impact of military conflict, terrorism or other geopolitical events, a potential government shutdown, a failure in or breach of our operational or security systems or infrastructure, including cyberattacks that could adversely affect the Company’s financial condition and results of operations and the business in which the Company and the Bank are engaged and the failure to maintain current technologies, the failure to retain or attract employees. BV Financial, Inc. BV Financial, Inc. is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with twelve branches in the Baltimore metropolitan area and the eastern shore of Maryland. The Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses. BV FINANCIAL, INC. Consolidated Financial Ratios At or For the Three Months Ended March 31, 2026 2025 Performance Ratios(1): Return on average assets 0.48 % 0.92 % Return on average equity 2.38 % 4.28 % Interest rate spread(2) 3.67 % 3.37 % Net interest margin(3) 4.36 % 4.12 % Yields on earning assets 5.79 % 5.66 % Cost of interest-bearing liabilities 2.11 % 2.29 % Cost of deposits 1.59 % 1.61 % Yield on loans 6.11 % 5.89 % Non-interest expense to average assets 3.33 % 2.70 % Efficiency ratio(4) 78.82 % 67.36 % Average interest-earning assets to average interest-bearing liabilities 148.43 % 148.50 % Average equity to average assets 20.08 % 21.40 % Credit Quality Ratios: Allowance for credit losses as a percentage of total loans 0.87 % 1.18 % Allowance for credit losses as a percentage of non-performing loans 282.88 % 183.87 % Net charge-offs to average outstanding loans during the year - - Non-performing loans as a percentage of total loans 0.36 % 0.64 % Non-performing loans as a percentage of total assets 0.29 % 0.52 % Total non-performing assets as a percentage of total assets 0.29 % 0.53 % Per Share Data Earnings per common share, basic $ 0.13 $ 0.21 Earnings per common share, diluted $ 0.13 $ 0.21 Book value per common share $ 20.99 $ 18.70 Tangible book value per common share(5) $ 19.27 $ 17.26 Weighted average shares outstanding 8,156,732 9,900,938 (1) Performance ratios are annualized. (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. (3) Represents net interest income as a percentage of average interest-earning assets. (4) Represents non-interest expenses divided by the sum of net interest income and non-interest income. (5) Represents total equity less goodwill less other intangible assets divided by common shares outstanding. See non-GAAP reconciliation table. BV FINANCIAL, INC. Consolidated Balance Sheets March 31, 2026 December 31, 2025 (dollars in thousands, except share amounts) (unaudited) derived from audited financial statements Assets Cash $ 6,908 $ 5,616 Interest-bearing deposits in other banks 67,669 50,089 Cash and cash equivalents 74,577 55,705 Equity Investment 406 404 Securities available for sale 32,890 33,226 Securities held to maturity (fair value of $5,047 and $5,102, ACL of $1 and $2) 5,691 5,736 Loans held for maturity 735,608 754,921 Allowance for Credit Losses (6,399 ) (6,437 ) Net Loans 729,209 748,484 Premises and equipment, net 12,307 12,493 Federal Home Loan Bank of Atlanta stock, at cost 2,324 2,324 Investment in life insurance 20,526 20,441 Accrued interest receivable 2,990 3,149 Goodwill 14,420 14,420 Intangible assets, net 606 651 Deferred tax assets, net 7,404 7,563 Other assets 7,507 7,617 Total assets $ 910,857 $ 912,213 Liabilities and Stockholders' Equity Liabilities Noninterest-bearing deposits $ 139,318 $ 138,360 Interest-bearing deposits 534,195 537,734 Total deposits 673,513 676,094 FHLB borrowings 35,000 35,000 Other liabilities 18,707 17,315 Total liabilities 727,220 728,409 Stockholders' equity Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding — — Common stock, $0.01 par value; 45,000,000 shares authorized in 2026 and 2025; 8,750,737 shares issued and outstanding as of March 31, 2026; 8,852,813 shares issued and outstanding as of December 31, 2025 87 88 Paid-in capital 67,564 68,834 Unearned common stock held by employee stock ownership plan (6,929 ) (6,978 ) Retained earnings 124,081 122,990 Accumulated other comprehensive loss (1,166 ) (1,130 ) Total stockholders' equity 183,637 183,804 Total liabilities and stockholders' equity $ 910,857 $ 912,213 BV FINANCIAL, INC. Consolidated Statements of Income (unaudited) (dollars in thousands, except per share amounts) Three Months Ended March 31, Interest Income 2026 2025 Loans, including fees $ 11,143 $ 10,741 Investment securities available for sale 289 350 Investment securities held to maturity 45 47 Other interest income 605 743 Total interest income 12,082 11,881 Interest Expense Interest on deposits 2,652 2,601 Interest on FHLB borrowings 319 171 Interest on Subordinated debentures — 466 Total interest expense 2,971 3,238 Net interest income 9,111 8,643 (Recovery of) provision for credit losses (11 ) 297 Net interest income after provision for (recovery of) credit losses 9,122 8,346 Noninterest Income Service fees on deposits 109 103 Fees from debit cards 164 164 Income from investment in life insurance 86 87 Other income 169 176 Total noninterest income 528 530 Noninterest Expense Compensation and related benefits 5,780 4,524 Occupancy 456 444 Data processing 399 397 Advertising 15 6 Professional fees 237 231 Equipment 89 91 Foreclosed real estate and repossessed assets holding costs (5 ) 3 Amortization of intangible assets 45 45 FDIC insurance premiums 85 81 Other expense 497 356 Total noninterest expense 7,598 6,178 Net income before tax 2,052 2,698 Income tax expense 961 599 Net income $ 1,091 $ 2,099 Basic earnings per share $ 0.13 $ 0.21 Diluted earnings per share $ 0.13 $ 0.21 BV FINANCIAL, INC. Average Balance Sheet for the Quarters ended March 31, (Dollars in thousands, unaudited ) For the Three Months Ended March 31, 2026 2025 (dollars in thousands) Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate (Unaudited) Interest-earning assets: Loans $ 739,885 $ 11,143 6.11 % $ 739,666 $ 10,741 5.89 % Securities available-for-sale 33,538 289 3.49 % 36,884 350 3.85 % Securities held-to-maturity 8,040 45 2.27 % 7,323 47 2.60 % Cash, cash equivalents and other interest-earning assets 65,221 605 3.79 % 66,832 743 4.51 % Total interest-earning assets 846,684 12,082 5.79 % 850,705 11,881 5.66 % Noninterest-earning assets 65,375 65,008 Total assets $ 912,059 $ 915,713 Interest-bearing liabilities: Interest-bearing demand deposits $ 75,739 167 0.89 % $ 80,149 171 0.87 % Savings deposits 115,833 147 0.51 % 122,458 99 0.33 % Money market deposits 124,717 684 2.22 % 124,962 764 2.48 % Certificates of deposit 219,142 1,654 3.06 % 195,379 1,567 3.52 % Total interest-bearing deposits 535,431 2,652 2.01 % 522,948 2,601 2.02 % Federal Home Loan Bank advances 35,000 319 3.70 % 15,000 171 4.62 % Subordinated debentures — — — 34,905 466 5.41 % Total borrowings 35,000 319 3.70 % 49,905 637 5.18 % Total interest-bearing liabilities 570,431 2,971 2.11 % 572,853 3,238 2.29 % Noninterest-bearing demand deposits 139,808 131,981 Other noninterest-bearing liabilities 18,645 14,941 Total liabilities 728,884 719,775 Equity 183,175 195,938 Total liabilities and equity $ 912,059 $ 915,713 Net interest income $ 9,111 $ 8,643 Net interest rate spread 3.68 % 3.37 % Net interest-earning assets $ 276,253 $ 277,852 Net interest margin 4.36 % 4.12 % Average interest-earning assets to interest-bearing liabilities 148.43 % 148.50 % ALLOWANCE FOR CREDIT LOSS - LOANS (Dollars in thousands, unaudited) QTR QTR 3/31/2026 3/31/2025 Beginning Balance $ 6,437 $ 8,522 Provision for (recovery of) credit loss -loans (56 ) 351 Net Charge-offs (recoveries): Owner Occupied 1-4 (1 ) (3 ) Non-Owner Occupied 1-4 (19 ) (16 ) Investor Commercial Real Estate — — OO Commercial Real Estate — — Construction & Land — (1 ) Farm Loans — — Marine & Consumer 2 5 Guaranteed by the US Gov't — — Commercial — — Net charge-offs (recoveries) (18 ) (15 ) Ending Balance- ACL for Loans $ 6,399 $ 8,888 Balance Reserve for unfunded loan commitments 140 299 Balance Reserve for HTM Securities 1 3 Total ACL $ 6,540 $ 9,190 Provision expense for Unfunded Commitments 46 (53 ) Provision expense for HTM Securities (1 ) (1 ) Total other provision expense $ 45 $ (54 ) Total (Recovery of) provision for credit losses $ (11 ) $ 297 RECONCILIATION TABLE (UNAUDITED) NON-GAAP ADJUSTED NET INCOME Non-GAAP Reconciliation In addition to results presented in accordance with generally accepted accounting principles utilized in the Unites States ("GAAP"), this earnings release contains a non-GAAP financial measure, Non-GAAP adjusted net income. The Company believes this non-GAAP financial measure is useful for both investors and management to understand the effects of certain items and provide an alternative view of its performance over time. Non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for total stockholders' equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Three Months ended March 31, 2026 2025 Net Income (GAAP) $ 1,091 $ 2,099 2024 Equity Plan Expenses 601 1,155 Cost of executive transition 2,203 - Tax impact (576 ) (306 ) Non-GAAP Adusted Net Income $ 3,319 $ 2,948 NON-GAAP TANGIBLE BOOK VALUE PER COMMON SHARE Total Equity (GAAP) $ 183,637 $ 198,073 Less Goodwill 14,420 14,420 Less other intangible assets 606 786 Tangible equity $ 168,611 $ 182,867 Common shares outstanding 8,750,737 10,594,044 Tangible book value per share $ 19.27 $ 17.26