BV FINANCIAL, INC. ANNOUNCES FINANCIAL RESULTS

Contact: Michael J. Dee Chief Financial Officer (410) 477- 5000 BV FINANCIAL, INC. ANNOUNCES FINANCIAL RESULTS Baltimore, Maryland, October 23, 2026– BV Financial, Inc. (NASDAQ: BVFL), the holding company for BayVanguard Bank (the “Bank”), today reported net income of $3.4 million, or $0.42 per diluted share, for the quarter ended September 30, 2026 compared to net income of $3.7 million, or $0.41 per diluted share, for the quarter ended September 30, 2025. Net income for the nine-month period ended September 30, 2026 was $8.0 million or $0.97 per diluted share compared to net income of $8.7 million or $0.88 per diluted share for the nine-month period ended September 30, 2025. Operating pre-provision net revenue (OPPNR) is a non-GAAP financial metric used by management to monitor the Company’s financial results. This metric excludes the expense, or reversal of the expense for the provision for credit losses as well as the costs of the 2024 Equity Incentive Plan, costs associated with out executive transition in the first quarter and the associated changes in the effective tax rate, and other items. Since the adoption of ASC 326 (CECL) in January 2023, the provision line item on the income statement has been extremely volatile, making this metric useful for management in evaluating core earnings capacity before credit costs. OPPNR was $5.3 million or $0.65 per diluted share for the three months ended September 30, 2026, compared to $5.2 million or $0.57 per diluted share for the three months ended September 30, 2025. OPPNR was $15.4 million or $1.87 per diluted share for the nine-months ended September 30, 2026 compared to $14.8 million or $1.50 per diluted share for the nine-month period ended September 30, 2025. For a reconciliation of pre-provision net interest income as reported and non-GAAP OPPNR, see the table at the end of this press release. Financial Highlights • Return on average assets and return on average equity for the three months ended September 30, 2026 were 1.57% and 7.50%, respectively. • Net loans decreased $22.1 million or 2.96% to $726.34 million compared to $748.48 million at December 31, 2025. • Deposits decreased $2.1 million or 0.32% from $676.1 million at December 31, 2025 to $674.0 million at September 30, 2026. • Borrowings from the Federal Home Loan Bank of Atlanta “FHLB” decreased by $30.0 million or 85.7%. • Non-accrual loans increased $0.9 million to $3.2 million at September 30, 2026 from $2.3 million at December 31, 2025. • The Company recorded a provision for credit losses of $0.2 million for the quarter ended September 30, 2026 and a reversal in the provisions for credit losses of $14,000 for the nine-months ended September 30, 2026. • During the quarter ended September 30, 2026, the Company repurchased 163,540 shares of its outstanding common stock at an average price of $21.16. FINANCIAL CONDITION Total Assets. Total assets were $877.9 million at September 30, 2026, a decrease of $34.2 million, or 3.76%, from $912.2 million at December 31, 2025. The decrease was due primarily to the Company utilizing cash resulting from a decrease in the loan portfolio to repay $30.0 million in borrowings from the FHLB. Cash and Cash Equivalents. Cash and cash equivalents decreased $5.7 million, or 10.2%, to $50.0 million at September 30, 2026 from $55.7 million at December 31, 2025. The decrease in cash was primarily a result of the pay-off of the FHLB borrowings. Loans Receivable. Loans receivable decreased $22.2 million, or 2.9%, to $732.7 million at September 30, 2026 from $754.9 million at December 31, 2025. The largest decreases in the portfolio occurred in the commercial ($11.6) million, construction and land ($9.4 million), and one-to-four family non-owner-occupied loans ($7.1) million. Securities. Securities available for sale decreased by $2.3 million or 7.0% from December 31, 2025 as paydowns and maturities were not entirely replaced with new purchases. The held-to-maturity portfolio decreased due to the pay-off of two holdings of subordinated debentures. Federal Home Loan Bank Stock Federal Home Loan Bank of Atlanta stock decreased $1.4 million or 61.3% as a result of the advance pay-off reducing the required ownership amount. Total Liabilities. Total liabilities decreased $34.6 million or 4.7%, to $693.8 million at September 30, 2026 from $728.4 million at December 31, 2025. The decrease was due primarily to the decrease in borrowings. Deposits. Total deposits decreased $2.1 million, or 0.32% to $674.0 million at September 30, 2026 from $676.1 million at December 31, 2025. Noninterest-bearing deposits increased $1.1 million or 0.8% to $139.5 million. Interest bearing deposits decreased $3.2 million, or 0.60%, to $534.5 million at September 30, 2026 from $537.7 million at December 31, 2025. Stockholders’ Equity. Stockholders’ equity increased $0.4 million, or 0.23%, to $184.2 million at September 30, 2026 from $183.8 million at December 31, 2025 as net income and the impact of earned stock compensation offset the $9.3 million in stock repurchases during the period. RESULTS OF OPERATION Net Income. Net income was $3.4 million or $0.42 per diluted share for the three months ended September 30, 2026 compared to $3.7 million or $0.41 per diluted share for the three months ended September 30, 2025. Net income was $8.0 million or $0.97 per diluted share for the nine- months ended September 30, 2026 compared to $8.7 million or $0.88 per diluted share for the nine months ended September 30, 2025. The decrease in income for the year-to-date period is due to both the $2.2 million first quarter executive transition expense and the related tax impact as well as changes in the provision for credit losses. Net Interest Income. Net interest income was $9.1 million for the three months ended September 30, 2026 compared to $9.4 million for the three months ended September 30, 2025. The net interest margin for the three months ended September 30, 2026 was 4.46% compared to 4.40% for the three months ended September 30, 2025. The decrease in net interest income was primarily due to the lower average balance of loans outstanding in the period. Net interest income was $27.7 million for the nine months ended September 30, 2026, compared to $27.1 million for the nine months ended September 30, 2025. The net interest margin for the nine months ended September 30, 2026 was 4.47% compared to 4.29% for the nine months ended September 30, 2025. The increase in net interest income was primarily due to the lower borrowing costs in the period due to the pay-off of the subordinated debentures in December 2025. Noninterest Income. For the three months ended September 30, 2026 and 2025, noninterest income totaled $0.68 million. For the nine months ended September 30, 2026 noninterest income totaled $1.7 million compared to $1.9 million for the nine months ended and September 30, 2025. The decrease was due to the write-down of a former branch location prior to its sale. Noninterest Expense. For the three months ended September 30, 2026, noninterest expense totaled $5.1 million compared to $5.9 million for the three months ended September 30, 2025. Decreases in compensation and benefits of $0.7 million due to lower staffing and lower expenses for the 2024 Equity Plan as well as a decrease in other expense of $0.1 million, primarily due to lower fraud losses, were the primary drivers of the overall decrease. For the nine months ended September 30, 2026, noninterest expense totaled $18.1 million as compared to $17.8 million for the nine months ended September 30, 2025. Compensation and benefits expense increased $0.1 million due to the $2.2 million cost of the executive transition in the first quarter mostly offset by lower staffing levels and lower costs of the 2024 Equity Plan. Data processing expenses increased $81,000 due to the cost of new product implementation. Asset Quality. Non-performing assets at September 30, 2026 totaled $3.2 million, compared to $2.3 million at December 31, 2025, all of which were nonperforming loans. At September 30, 2026, the allowance for credit losses on loans was $6.3 million, which represented 0.86% of total loans and 197.1% of non-performing loans compared to $6.4 million at December 31, 2025, which represented 0.85% of total loans and 284.7% of non-performing loans. 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. 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 At or For the Nine Months Ended September 30, Ended September 30, 2026 2025 2026 2025 Performance Ratios(1): Return on average assets 1.57 % 1.65 % 1.19 % 1.27 % Return on average equity 7.50 % 7.77 % 5.81 % 5.93 % Interest rate spread(2) 3.74 % 3.65 % 3.79 % 3.54 % Net interest margin(3) 4.46 % 4.40 % 4.47 % 4.29 % Yields on earning assets 5.88 % 5.90 % 5.84 % 5.80 % Cost of interest-bearing liabilities 2.14 % 2.25 % 2.05 % 2.26 % Cost of interest bearing deposits 2.14 % 2.05 % 2.07 % 2.03 % Yield on loans 6.17 % 6.15 % 6.16 % 6.03 % Non-interest expense to average assets 2.32 % 2.59 % 2.70 % 2.61 % Efficiency ratio(4) 51.81 % 58.58 % 61.71 % 61.25 % Average interest-earning assets to average interest-bearing liabilities 150.95 % 150.18 % 149.52 % 149.97 % Average equity to average assets 21.00 % 21.19 % 20.47 % 21.48 % Credit Quality Ratios: Allowance for credit losses as a percentage of total loans 0.86 % 1.10 % 0.86 % 1.10 % Allowance for credit losses as a percentage of non-performing loans 197.11 % 233.53 % 197.11 % 233.53 % Net charge-offs (recoveries) to average outstanding loans during the year 0.01 % 0.00 % 0.00 % 0.00 % Non-performing loans as a percentage of total loans 0.44 % 0.47 % 0.44 % 0.47 % Non-performing loans as a percentage of total assets 0.37 % 0.39 % 0.37 % 0.39 % Total non-performing assets as a percentage of total assets 0.37 % 0.39 % 0.37 % 0.39 % Per Share Data Earnings per common share, basic $ 0.44 $ 0.41 $ 1.00 $ 0.89 Earnings per common share, diluted $ 0.42 $ 0.41 $ 0.97 $ 0.88 Book value per common share $ 21.95 $ 19.95 $ 21.95 $ 19.95 Tangible book value per common share(5) $ 20.17 $ 18.36 $ 20.17 $ 18.36 Weighted average shares outstanding 7,821,602 9,078,667 7,991,887 9,778,481 (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 September 30, 2026 December 31, 2025 (dollars in thousands, except share amounts) (unaudited) derived from audited financial statements Assets Cash $ 7,214 $ 5,616 Interest-bearing deposits in other banks 42,789 50,089 Cash and cash equivalents 50,003 55,705 Equity Investment 404 404 Securities available for sale 30,884 33,226 Securities held to maturity (fair value of $3,562 and $5,102, ACL of $0 and $2) 4,150 5,736 Loans 732,673 754,921 Allowance for Credit Losses (6,331 ) (6,437 ) Net Loans 726,342 748,484 Premises and equipment, net 12,042 12,493 Federal Home Loan Bank of Atlanta stock, at cost 899 2,324 Investment in life insurance 20,730 20,441 Accrued interest receivable 3,072 3,149 Goodwill 14,420 14,420 Intangible assets, net 516 651 Deferred tax assets, net 7,524 7,563 Other assets 7,011 7,617 Total assets $ 877,997 $ 912,213 Liabilities and Stockholders' Equity Liabilities Noninterest-bearing deposits $ 139,451 $ 138,360 Interest-bearing deposits 534,505 537,734 Total deposits 673,956 676,094 FHLB borrowings 5,000 35,000 Other liabilities 14,812 17,315 Total liabilities 693,768 728,409 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; 8,391,276 shares issued and outstanding as of September 30, 2026; 8,852,813 shares issued and outstanding as of December 31, 2025 84 88 Paid-in capital 61,453 68,834 Unearned common stock held by employee stock ownership plan (6,830 ) (6,978 ) Retained earnings 130,979 122,990 Accumulated other comprehensive loss (1,457 ) (1,130 ) Total stockholders' equity 184,229 183,804 Total liabilities and stockholders' equity $ 877,997 $ 912,213 BV FINANCIAL, INC. Consolidated Statements of Income (dollars in thousands, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, Interest Income 2026 2025 2026 2025 Loans, including fees $ 11,163 $ 11,519 $ 33,471 $ 33,594 Investment securities available for sale 292 329 863 1,003 Investment securities held to maturity 40 46 130 139 Other interest income 468 633 1,786 1,938 Total interest income 11,963 12,527 36,250 36,674 Interest Expense Interest on deposits 2,885 2,712 8,308 7,935 Interest on FHLB borrowings 1 — 216 194 Interest on Subordinated debentures — 465 — 1,396 Total interest expense 2,886 3,177 8,524 9,525 Net interest income 9,077 9,350 27,726 27,149 Provision for (recovery of) credit losses 213 (1,014 ) (14 ) (539 ) Net interest income after provision for (recovery of) credit losses 8,864 10,364 27,740 27,688 Noninterest Income Service fees on deposits 105 122 319 337 Fees from debit cards 183 183 528 524 Income from investment in life insurance 87 88 289 289 Gain on foreclosed realestate — 26 — 26 (Loss) on sale of fixed assets — (8 ) (135 ) (8 ) Other income 306 273 675 760 Total noninterest income 681 684 1,676 1,928 Noninterest Expense Compensation and related benefits 3,412 4,064 12,704 12,606 Occupancy 349 415 1,280 1,238 Data processing 409 372 1,245 1,164 Advertising 6 5 39 14 Professional fees 213 239 764 718 Equipment 82 92 260 278 Foreclosed real estate and repossessed assets holding costs — 2 (5 ) 5 Amortization of intangible assets 45 45 135 135 FDIC insurance premiums 85 83 257 247 Other expense 455 561 1,465 1,405 Total noninterest expense 5,056 5,878 18,144 17,810 Net income before tax 4,489 5,170 11,272 11,806 Income tax expense 1,053 1,440 3,283 3,116 Net income $ 3,436 $ 3,730 $ 7,989 $ 8,690 Basic earnings per share $ 0.44 $ 0.41 $ 1.00 $ 0.89 Diluted earnings per share $ 0.42 $ 0.41 $ 0.97 $ 0.88 BV FINANCIAL, INC. Average Balance Sheet for the Quarters ended September 30, (Dollars in thousands) For the Three Months Ended September 30, 2026 2025 (dollars in thousands) Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate (Unaudited) Interest-earning assets: Loans $ 717,546 $ 11,163 6.17 % $ 743,119 $ 11,519 6.15 % Securities available-for-sale 31,476 292 3.68 % 35,107 329 3.72 % Securities held-to-maturity 5,428 40 2.92 % 6,465 46 2.82 % Cash, cash equivalents and other interest-earning assets 53,132 468 3.52 % 57,784 633 4.38 % Total interest-earning assets 807,582 11,963 5.88 % 842,475 12,527 5.90 % Noninterest-earning assets 65,533 63,948 Total assets $ 873,115 $ 906,423 Interest-bearing liabilities: Interest-bearing demand deposits $ 66,753 133 0.79 % $ 75,302 151 0.80 % Savings deposits 109,602 146 0.53 % 117,422 136 0.46 % Money market deposits 131,640 771 2.32 % 128,265 787 2.43 % Certificates of deposit 226,950 1,835 3.21 % 205,022 1,638 3.17 % Total interest-bearing deposits 534,945 2,885 2.14 % 526,011 2,712 2.05 % Federal Home Loan Bank advances 54 1 4.18 % — — — Subordinated debentures — — — 34,983 465 5.27 % Total borrowings 54 1 4.18 % 34,983 465 5.27 % Total interest-bearing liabilities 534,999 2,886 2.14 % 560,994 3,177 2.25 % Noninterest-bearing demand deposits 138,658 137,179 Other noninterest-bearing liabilities 16,140 16,191 Total liabilities 689,797 714,364 Equity 183,318 192,059 Total liabilities and equity $ 873,115 $ 906,423 Net interest income $ 9,077 $ 9,350 Net interest rate spread 3.74 % 3.65 % Net interest-earning assets $ 272,583 $ 281,481 Net interest margin 4.46 % 4.40 % Average interest-earning assets to interest-bearing liabilities 150.95 % 150.18 % BV FINANCIAL, INC. Average Balance Sheet for the Nine Months ended September 30, (Dollars in thousands) For the Nine Months Ended September 30, 2026 2025 (dollars in thousands) Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate (Unaudited) Interest-earning assets: Loans $ 726,162 $ 33,471 6.16 % $ 745,001 $ 33,594 6.03 % Securities available-for-sale 32,534 863 3.55 % 35,580 1,003 3.77 % Securities held-to-maturity 6,944 130 2.50 % 6,801 139 2.73 % Cash, cash equivalents and other interest-earning assets 63,889 1,786 3.76 % 57,988 1,938 4.49 % Total interest-earning assets 829,529 36,250 5.84 % 845,370 36,674 5.80 % Noninterest-earning assets 65,506 64,424 Total assets $ 895,035 $ 909,794 Interest-bearing liabilities: Interest-bearing demand deposits $ 70,845 454 0.86 % $ 77,365 482 0.83 % Savings deposits 113,560 439 0.52 % 120,136 342 0.38 % Money market deposits 128,833 2,200 2.28 % 126,316 2,318 2.45 % Certificates of deposit 222,525 5,215 3.13 % 199,332 4,793 3.21 % Total interest-bearing deposits 535,763 8,308 2.07 % 523,149 7,935 2.03 % Federal Home Loan Bank advances 19,029 216 1.52 % 5,604 194 4.63 % Subordinated debentures — — — 34,944 1,396 5.34 % Total borrowings 19,029 216 1.52 % 40,548 1,590 5.24 % Total interest-bearing liabilities 554,792 8,524 2.05 % 563,697 9,525 2.26 % Noninterest-bearing demand deposits 139,439 134,686 Other noninterest-bearing liabilities 17,608 16,027 Total liabilities 711,839 714,410 Equity 183,196 195,384 Total liabilities and equity $ 895,035 $ 909,794 Net interest income $ 27,726 $ 27,149 Net interest rate spread 3.79 % 3.54 % Net interest-earning assets $ 274,737 $ 281,673 Net interest margin 4.47 % 4.29 % Average interest-earning assets to interest-bearing liabilities 149.52 % 149.97 % ALLOWANCE FOR CREDIT LOSS - LOANS (Dollars in thousands) QTR YTD 9/30/2026 9/30/2026 Beginning Balance $ 6,214 $ 6,437 Provision for credit loss -loans 171 (85 ) Net Charge-offs (recoveries): Owner Occupied 1-4 (1 ) (3 ) Non-Owner Occupied 1-4 (17 ) (50 ) Investor Commercial Real Estate — — OO Commercial Real Estate — — Construction & Land — — Farm Loans — — Marine & Consumer 72 74 Guaranteed by the US Gov't — — Commercial — — Net charge-offs (recoveries) 54 21 Ending Balance- ACL for Loans $ 6,331 $ 6,331 Balance Reserve for unfunded loan commitments 168 168 Balance Reserve for HTM Securities - - Total ACL $ 6,499 $ 6,499 Provision expense for Unfunded Commitments 42 72 Provision expense for HTM Securities — (1 ) Total other provision expense $ 42 $ 71 Total provision for (recovery of ) credit losses $ 213 $ (14 ) RECONCILIATION TABLE (UNAUDITED) 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 non-GAAP financial measures, OPPNR and tangible book value . 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 September 30, Nine Months ended September 30, Non-GAAP Adjusted Net Income 2026 2025 2026 2025 Net Income (GAAP) $ 3,436 $ 3,730 $ 7,989 $ 8,690 2024 Equity Plan Expenses 508 977 $ 1,712 $ 3,309 Cost of executive transition - - 2,203 Tax impact (135 ) (259 ) (1,037 ) (877 ) Non GAAP adjusted net income $ 3,809 $ 4,448 $ 10,867 $ 11,122 Adjusted Net Income per Share $ 0.49 $ 0.49 $ 1.36 $ 1.14 Adjusted Net Income per diluted share $ 0.47 $ 0.48 $ 1.32 $ 1.13 Non-GAAP Operating Pre-provision Net Revenue (OPPNR) Net Interest Income before provision $ 9,077 $ 9,350 $ 27,726 $ 27,149 Plus: Purchase Accounting Amortization 30 36 123 130 Plus: Non-interest income 681 684 1,676 1,928 Less: Non-interest expense (5,056 ) (5,878 ) (18,144 ) (17,810 ) Plus: CDI amortization 45 45 135 135 Plus: 2024 Equity Plan expense 508 977 1,712 3,309 Plus: Executive transition expense - - 2,203 - Operating Pre-Provision Net Revenue $ 5,285 $ 5,214 $ 15,431 $ 14,841 OPPNR per share $ 0.68 $ 0.57 $ 1.93 $ 1.52 OPPNR per diluted share $ 0.65 $ 0.57 $ 1.87 $ 1.50 Non-GAAP Tangible Book Value per Common Share 9/30/2026 9/30/2025 Total Equity (GAAP) $ 184,229 $ 190,210 Less Goodwill 14,420 14,420 Less other intangible assets 516 696 Tangible equity $ 169,293 $ 175,094 Common shares outstanding 8,391,276 9,536,094 Tangible book value per share $ 20.17 $ 18.36