BV Financial earnings improve in 2Q

BV Financial Inc., of Baltimore, the holding company for Bay-Vanguard Federal Savings Bank, reported net income of $263,000, or 9 cents per diluted share, for its fiscal second quarter ended Dec. 31, 2013, compared to net income of $196,000, or 8 cents per diluted share, for the prior-year period.

Bank officials attributed the higher earnings in 2013 to an increase in net interest income resulting from an increase in interest-earning assets, which was primarily due to the bank’s acquisition of Vigilant Federal Savings Bank in May 2013.

Total assets decreased to $179.7 million as of Dec. 31, 2013 compared to $185.2 million six months earlier.

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