Article: BV Financial, Inc. Announces Financial Results.(Financial report)

BV Financial, Inc. (OTCBB: BVFL), the holding company for Bay-Vanguard Federal Savings Bank, reported net income of $73,000, or $0.03 per diluted share, for the quarter ended September 30, 2009, compared to net income of $244,000, or $0.11 per diluted share, for the quarter ended September 30, 2008. The decreased earnings in fiscal 2009 were attributed largely to a decrease in net interest income and increases in non-interest expense, provision for loan losses and income taxes. Net interest income decreased mainly due to a decrease in the average balance of the loan portfolio of approximately $10.2 million and a decrease in the yield of the investment portfolio. ...

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