<SEC-DOCUMENT>0000943374-25-000293.txt : 20250623
<SEC-HEADER>0000943374-25-000293.hdr.sgml : 20250623
<ACCEPTANCE-DATETIME>20250623150004
ACCESSION NUMBER:		0000943374-25-000293
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250623
DATE AS OF CHANGE:		20250623

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BV Financial, Inc.
		CENTRAL INDEX KEY:			0001302387
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		ORGANIZATION NAME:           	02 Finance
		EIN:				141920944
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41764
		FILM NUMBER:		251064616

	BUSINESS ADDRESS:	
		STREET 1:		7114 NORTH POINT ROAD
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21219
		BUSINESS PHONE:		410-477-5000

	MAIL ADDRESS:	
		STREET 1:		7114 NORTH POINT ROAD
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21219
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>form11k_2024.htm
<DESCRIPTION>BV FINANCIAL, INC. FORM 11-K DECEMBER 31, 2024
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    <div style="text-align: center; margin-right: 107.55pt; margin-left: 108.85pt; margin-top: 4.15pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; margin-right: 107.55pt; margin-left: 108.75pt; margin-top: 1.2pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION </div>
    <div style="text-align: center; margin-right: 107.55pt; margin-left: 108.75pt; margin-top: 1.2pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
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    <div style="text-align: center; margin-right: 107.55pt; margin-left: 109.05pt; font-weight: bold;">FORM 11-K</div>
    <div style="margin-top: 2pt;"><br>
    </div>
    <div style="text-align: center; margin-right: 79.5pt; margin-left: 81.05pt; margin-top: 0.05pt; font-weight: bold;">FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE,&#160;SAVINGS </div>
    <div style="text-align: center; margin-right: 79.5pt; margin-left: 81.05pt; margin-top: 0.05pt; font-weight: bold;">AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE </div>
    <div style="text-align: center; margin-right: 79.5pt; margin-left: 81.05pt; margin-top: 0.05pt; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="margin-top: 0.9pt;"><br>
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            <div>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
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    <div style="margin-left: 17.25pt; margin-top: 10.75pt;">For the fiscal year ended <u>December </u><u>31. </u><u>2024</u></div>
    <div style="margin-top: 1.05pt;"><br>
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    <div style="text-align: center; margin-right: 0.45pt; font-weight: bold;">OR</div>
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            <div>TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
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    <div style="margin-left: 17.25pt; margin-top: 10.4pt;">For the transition period from<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 199.6pt">&#160;</font>to<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 87.35pt">&#160;</font></div>
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    <div style="text-align: center; margin-right: 107.55pt; margin-left: 108.8pt; font-weight: bold;">Commission File Number <u>001-41764</u></div>
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          <td style="width: 36.4pt; vertical-align: top;">A.</td>
          <td style="width: auto; vertical-align: top;">
            <div>Full title of the plan and the address of the plan, if different from that of the issuer named below:</div>
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      <div><br>
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      <div style="text-align: center;">BayVanguard Bank 401(k) Profit Sharing Plan</div>
      <br>
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            <td style="width: 36.4pt; vertical-align: top;">B.</td>
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              <div style="font-family: 'Times New Roman',Times,serif;">
                <div style="margin-top: 0.4pt;">Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</div>
                <font style="font-family: 'Times New Roman', Times, serif;"></font></div>
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    <br>
    <div style="text-align: center; margin-right: 107.55pt; margin-left: 110.15pt; margin-top: 10.85pt;">BV Financial, Inc.</div>
    <div style="text-align: center; text-indent: -0.6pt; margin-right: 195pt; margin-left: 197.3pt;">7114 North Point Road </div>
    <div style="text-align: center; text-indent: -0.6pt; margin-right: 195pt; margin-left: 197.3pt;">Baltimore, Maryland 21219</div>
    <div style="text-align: center; text-indent: -0.6pt; margin-right: 195pt; margin-left: 197.3pt;"> <br>
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      <div><br>
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      <div style="margin-top: 4pt; font-family: 'Times New Roman', Times, serif;">OMB Control number 1210-0040; Expiration Date 03/31/2026</div>
      <div><br>
      </div>
      <div style="margin-top: 4.9pt;"><br>
      </div>
      <div style="text-align: center; margin-top: 0.05pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SUMMARY ANNUAL REPORT FOR</div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">BAY-VANGUARD FEDERAL SAVINGS BANK 401(K) PROFIT SHARING PLAN</div>
      <div style="text-indent: 36pt;">This is a summary of the annual report Form 5500 Annual Return/Report of Employee Benefit Plan of Bay-vanguard Federal Savings Bank 401(k) Profit Sharing Plan and
        Employer Identification Number 52-0390295/Plan Number 001 for the plan year 01/01/2024 through 12/31/2024. The Form 5500 annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement
        Income Security Act of 1974 (ERISA). Your plan is a single employer, defined contribution plan with the following characteristics: profit sharing, ERISA section 404(c), total participant-directed account, code section 401(k) feature, code section
        401(m) arrangement, total or partial participant-directed account, pre-approved pension, stock bonus.</div>
      <div style="text-align: center; margin-top: 10.3pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Basic Financial Statement</div>
      <div style="text-indent: 36pt; margin-right: 0.1pt; margin-top: 10.3pt; font-family: 'Times New Roman', Times, serif;">Benefits under the plan are provided by a trust fund. Plan expenses were $209,394. These expenses included $10,558 in
        administrative expenses and $177,721 in benefits paid to participants and beneficiaries, and $0 in other expenses. A total of 116 persons were participants in or beneficiaries of the plan at the end of the plan year.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt; margin-right: 0.7pt; font-family: 'Times New Roman', Times, serif;">The value of plan assets, after subtracting liabilities of the plan, was $6,098,235 as of the end of the plan year, compared to $4,696,768 as of the
        beginning of the plan year. During the plan year the plan experienced a change in its net assets of $1,401,467. This change includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of
        the plan's assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total income of $1,610,861, including employer contributions of $91,988, employee
        contributions of $473,494, other contributions/other income of $33,936 and earnings from investments of $1,011,443.</div>
      <div style="text-align: center; margin-top: 10.3pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Information Regarding Plan Assets</div>
      <div style="text-indent: 36pt; margin-right: 0.1pt; margin-top: 10.3pt; font-family: 'Times New Roman', Times, serif;">The U.S. Department of Labor&#8217;s regulations require that an independent qualified public accountant audit the plan&#8217;s financial
        statements unless certain conditions are met for the audit requirement to be waived. This plan met the audit waiver conditions for the plan year beginning 01/01/2024 and therefore has not had an audit performed.</div>
      <div style="text-indent: 36pt; margin-right: 0.1pt; margin-top: 10.35pt; font-family: 'Times New Roman', Times, serif;">The plan&#8217;s assets were held in individual participant accounts with investments directed by participants and beneficiaries and
        with account statements from regulated financial institutions furnished to the participant or beneficiary at least annually, qualifying employer securities and loans to participants and other qualifying assets.</div>
      <div style="text-indent: 36pt; margin-right: 2.7pt; margin-top: 10.3pt; font-family: 'Times New Roman', Times, serif;">General information regarding the audit waiver conditions applicable to the plan can be found on the U.S. Department of Labor Web
        site at https://www.dol.gov/agencies/ebsa under the heading "Frequently Asked Questions."</div>
      <div style="text-align: center; margin-top: 10.3pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Your Rights to Additional Information</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt; margin-right: 0.1pt; font-family: 'Times New Roman', Times, serif;">You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report:</div>
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            <td style="width: 35.95pt; vertical-align: top;">1.</td>
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              <div>Information regarding any common or collective trusts, pooled separate accounts, master trusts or 103-12 investment entities in which the plan participates.</div>
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      <div style="text-indent: 38.25pt; margin-right: 0.1pt; margin-top: 10.3pt; font-family: 'Times New Roman', Times, serif;">To obtain a copy of the full annual report, or any part thereof, write or call the office of Ms. Claudia Kraft, who is a
        representative of the plan administrator, at 7114 North Point Road, Baltimore, MD 21219 and phone number, 410-477-5000.</div>
      <div style="text-indent: 36pt; margin-right: 2.7pt; margin-top: 10.35pt; font-family: 'Times New Roman', Times, serif;">You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and
        liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying
        notes will be included as part of that report.</div>
      <div style="text-indent: 36pt; margin-top: 10.3pt; font-family: 'Times New Roman', Times, serif;">You also have the legally protected right to examine the annual report at the main office of the plan: 7114 North Point Road, Baltimore, MD 21219, and
        at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-1513, Employee Benefits
        Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210. The annual report is also available online at the Department of Labor website www.efast.dol.gov.</div>
    </div>
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    <div style="text-align: center; margin-right: 109.1pt; margin-left: 108.75pt; margin-top: 4.15pt; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div style="margin-top: 3.6pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 36.25pt; margin-right: 14.85pt; margin-left: 16.1pt;"><font style="font-style: italic;">The Plan. </font>Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons
      who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
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          <td style="width: 8.46%; vertical-align: top;">&#160;</td>
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            <div style="margin-right: 14.25pt;"><br>
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          <td style="width: 32.8%; vertical-align: top;">&#160;</td>
          <td style="width: 8.46%; vertical-align: top;">&#160;</td>
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            <div style="margin-right: 14.25pt;"> <br>
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            <div style="margin-right: 14.25pt;"> <br>
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            <div style="margin-right: 14.25pt;"> <br>
            </div>
            <div style="margin-right: 14.25pt;">Date: June 20<font style="font-style: italic;">,&#160;</font>2025</div>
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            <div style="margin-right: 14.25pt;"> <br>
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            <div style="margin-right: 14.25pt;"> <br>
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            <div style="margin-right: 14.25pt;"> <br>
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            <div style="margin-right: 14.25pt;"> <br>
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            <div> BAYVANGUARD BANK 401(k) PROFIT SHARING PLAN</div>
            <div> <br>
            </div>
            <div> <br>
            </div>
            <div> <br>
            </div>
            <div>&#160;<u>/s/ Michael J. Dee</u><br>
            </div>
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          <td style="width: 32.8%; vertical-align: top;">&#160;</td>
          <td style="width: 8.46%; vertical-align: top; text-align: right;">&#160;By:&#160;&#160; <br>
          </td>
          <td style="width: 58.74%; vertical-align: top;">
            <div style="margin-right: 14.25pt;"> Michael J. Dee<br>
            </div>
            <div style="margin-right: 14.25pt;">Executive Vice President and Chief Financial Officer</div>
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