Loans Receivable (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Portfolio Loans, Net of Deferred Costs and Fees

Portfolio loans, net of deferred costs and fees, are summarized by type as follows at June 30, 2025 and December 31, 2024:


	Period Ended
	June 30, 2025						December 31, 2024
(dollars in thousands)	Amount			Percent			Amount			Percent
Real estate
One to four family - owner occupied	$	152,524			20.29	%	$	141,867			19.23	%
One to four family - non owner occupied		94,469			12.57	%		99,824			13.53	%
Commercial owner occupied		81,905			10.90	%		82,614			11.20	%
Commercial investor		328,212			43.67	%		328,680			44.56	%
Construction and land		34,893			4.64	%		30,578			4.14	%
Farm loans		11,419			1.52	%		11,329			1.54	%
Total real estate loans		703,422			93.59	%		694,892			94.20	%

Marine and other consumer loans		16,135			2.15	%		16,772			2.27	%
Guaranteed by U.S. Government		2,265			0.30	%		2,902			0.39	%
Commercial		29,751			3.96	%		23,194			3.14	%
Total consumer and commercial		48,151			6.41	%		42,868			5.80	%

Total loans		751,573			100.0	%		737,760			100.0	%
Allowance for credit losses		(9,159	)					(8,522	)
Total loans, net of deferred costs and fees	$	742,414					$	729,238

Schedule of Non-accrual Loans

Non-accrual loans as of June 30, 2025 and December 31, 2024 were as follows:


	June 30, 2025						December 31, 2024
	No		With an				No		With an
(dollars in thousands)	Allowance		Allowance		Total		Allowance		Allowance		Total
Real estate
One to four family - owner occupied	$	929	$	—	$	929	$	1,218	$	—	$	1,218
One to four family - non owner occupied		396		—		396		280		—		280
Commercial owner occupied		1,283		—		1,283		1,323		—		1,323
Commercial investor		716		—		716		772		—		772
Construction and land		26		—		26		26		—		26
Total real estate loans		3,350		—		3,350		3,619		—		3,619

Marine and other consumer loans		11		—		11		11		—		11
Commercial		650		380		1,030		—		380		380
Total consumer and commercial loans		661		380		1,041		11		380		391

Total nonaccrual loans	$	4,011	$	380	$	4,391	$	3,630	$	380	$	4,010

Schedule of Analysis of Days Past Due

An analysis of days past due loans as of June 30, 2025 was as follows:


	June 30, 2025
	30 - 59		60 - 89		90+
	Days		Days		Days		Total		Current		Total
(dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Loans		Loans
Real estate
One to four family - owner occupied	$	562	$	219	$	702	$	1,483	$	151,041	$	152,524
One to four family - non owner occupied		102		225		80		407		94,062		94,469
Commercial owner occupied		408		—		306		714		81,191		81,905
Commercial investor		—		—		—		—		328,212		328,212
Construction and land		—		—		26		26		34,867		34,893
Farm loans		—		—		—		—		11,419		11,419
Total real estate loans		1,072		444		1,114		2,630		700,792		703,422

Marine and other consumer loans		4		4		11		19		16,116		16,135
Guaranteed by U.S. Government		—		—		—		—		2,265		2,265
Commercial		—		—		380		380		29,371		29,751
Total consumer and commercial loans		4		4		391		399		47,752		48,151

Total loans	$	1,076	$	448	$	1,505	$	3,029	$	748,544	$	751,573

An analysis of days past due loans as of December 31, 2024 was as follows:


	December 31, 2024
	30 - 59		60 - 89		90+
	Days		Days		Days		Total		Current		Total
(dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Loans		Loans
Real estate
One to four family - owner occupied	$	2,923	$	558	$	608	$	4,089	$	137,778	$	141,867
One to four family - non owner occupied		576		—		0		576		99,248		99,824
Commercial owner occupied		408		—		656		1,064		81,550		82,614
Commercial investor		0		—		—		—		328,680		328,680
Construction and land		299		—		0		299		30,279		30,578
Farm loans		—		—		—		—		11,329		11,329
Total real estate loans		4,206		558		1,264		6,028		688,864		694,892

Marine and other consumer loans		9		—		11		20		16,752		16,772
Guaranteed by U.S. Government		9		52		—		61		2,841		2,902
Commercial		—		—		380		380		22,814		23,194
Total consumer and commercial loans		18		52		391		461		42,407		42,868

Total loans	$	4,224	$	610	$	1,655	$	6,489	$	731,271	$	737,760

Schedule of Detail Provision Activity in ACL

The following tables detail activity in the ACL at and for the three and six months ended June 30, 2025 and 2024. An allocation of the allowance to one category of loans does not prevent the Company from using that allowance to absorb losses in a different category.


Three Months Ended	June 30, 2025
(dollars in thousands)	Beginning Balance		Charge-offs		Recoveries		Provisions (Recovery)			Ending Balance
Real estate
One to four family - owner occupied	$	1,647	$	—	$	13	$	551		$	2,211
One to four family - non owner occupied		617		—		14		36			667
Commercial owner occupied		495		—		—		—			495
Commercial investor		4,032		—		—		(299	)		3,733
Construction and land		955		—		1		(88	)		868
Farm loans		73		—		—		24			97
Total real estate loans		7,819		—		28		224			8,071

Marine and other consumer loans		396		—		1		(27	)		370
Commercial		673		—		—		45			718
Total consumer and commercial		1,069		—		1		18			1,088

Total loans	$	8,888	$	—	$	29	$	242		$	9,159

The following table summarized the ACL provision activity for the three months ended June 30, 2025.


(dollars in thousands)
Provision for (recovery of) credit losses - loans	$	242
Provision for (recovery of) allowance for securities - HTM		(1	)
Provision for (recovery of ) allowance for credit losses - unfunded commitments		(63	)
Provision for (recovery of) credit losses per the consolidated statements of income	$	178


Three Months Ended	June 30, 2024
(dollars in thousands)	Beginning Balance		Charge-offs			Recoveries		Provisions (recovery)			Ending Balance
Real estate
One to four family - owner occupied	$	1,697	$	—		$	57	$	(127	)	$	1,627
One to four family - non owner occupied		1,015		—			11		(24	)		1,002
Commercial owner occupied		578		—			—		(64	)		514
Commercial investor		3,570		—			—		139			3,709
Construction and land		763		—			1		(19	)		745
Farm loans		174		—			—		83			257
Total real estate loans		7,797		—			69		(12	)		7,854

Marine and other consumer loans		428		(2	)		—		8			434
Commercial		281		—			—		(22	)		259
Total consumer and commercial		709		(2	)		—		(14	)		693

Total loans	$	8,506	$	(2	)	$	69	$	(26	)	$	8,547

The following table summarized the ACL provision activity for the three months ended June 30, 2024.


(dollars in thousands)
Provision for (recovery of) credit losses - loans	$	(26	)
Reduction in allowance for securities - HTM		(1	)
Provision for allowance for credit losses - unfunded commitments		(84	)
Provision for credit losses per the consolidated statement of income	$	(111	)


Six Months Ended	June 30, 2025
(dollars in thousands)	Beginning Balance		Charge-offs			Recoveries		Provisions (recovery)			Ending Balance
Real estate
One to four family - owner occupied	$	1,858	$	—		$	16	$	337		$	2,211
One to four family - non owner occupied		742		—			30		(105	)		667
Commercial owner occupied		511		—			—		(16	)		495
Commercial investor		3,592		—			—		141			3,733
Construction and land		940		—			2		(74	)		868
Farm loans		69		—			—		28			97
Total real estate loans		7,712		—			48		311			8,071

Marine and other consumer loans		399		(5	)		1		(25	)		370
Commercial		411		—			—		307			718
Total consumer and commercial		810		(5	)		1		282			1,088

Total loans	$	8,522	$	(5	)	$	49	$	593		$	9,159

The following table summarized the ACL provision activity for the six months ended June 30, 2025.


(dollars in thousands)
Provision for (recovery of) credit losses - loans	$	593
Provision for (recovery of) allowance for securities - HTM		(1	)
Provision for (recovery of ) allowance for credit losses - unfunded commitments		(117	)
Provision for (recovery of) credit losses per the consolidated statements of income	$	475


Six Months Ended	June 30, 2024
(dollars in thousands)	Beginning Balance		Charge-offs			Recoveries		Provisions (recovery)			Ending Balance
Real estate
One to four family - owner occupied	$	1,728	$	—		$	109	$	(210	)	$	1,627
One to four family - non owner occupied		1,030		(1	)		40		(67	)		1,002
Commercial owner occupied		563		—			3		(52	)		514
Commercial investor		3,725		—			—		(16	)		3,709
Construction and land		772		—			2		(29	)		745
Farm loans		179		—			—		78			257
Total real estate loans		7,997		(1	)		154		(296	)		7,854

Marine and other consumer loans		403		(2	)		1		32			434
Commercial		154		—			—		105			259
Total consumer and commercial		557		(2	)		1		137			693

Total loans	$	8,554	$	(3	)	$	155	$	(159	)	$	8,547

The following table summarized the ACL provision activity for the six months ended June 30, 2024.


(dollars in thousands)
Provision for (recovery of) credit losses - loans	$	(159	)
Reduction in allowance for securities - HTM		(1	)
Reduction in allowance for credit losses - unfunded commitments		68
Provision for credit losses per the consolidated statement of income	$	(92	)

Schedule of Term Loan by Origination Year

Term Loans by Origination Year


(dollars in thousands)	Term Loans Amortized Cost Basis by Origination Year
Balance at June 30, 2025	2025		2024		2023		2022		2021		Prior		Revolving		Total
One to four family - owner occupied
Pass	$	20,002	$	23,254	$	5,356	$	7,613	$	12,656	$	73,158	$	9,891	$	151,930
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		333		261		—		594
Doubtful		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—
Total One to four family - owner occupied	$	20,002	$	23,254	$	5,356	$	7,613	$	12,989	$	73,419	$	9,891	$	152,524
Current Period Gross Write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

One to four family - non owner occupied
Pass	$	4,118	$	4,733	$	12,338	$	27,110	$	15,698	$	29,702	$	—	$	93,699
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		770		—		770
Doubtful		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—
Total One to four family - non owner occupied	$	4,118	$	4,733	$	12,338	$	27,110	$	15,698	$	30,472	$	—	$	94,469
Current Period Gross Write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial owner occupied
Pass	$	2,358	$	4,522	$	20,036	$	10,642	$	5,739	$	36,251	$	—	$	79,548
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		306		2,051		—		2,357
Doubtful		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—
Total Commercial owner occupied	$	2,358	$	4,522	$	20,036	$	10,642	$	6,045	$	38,302	$	—	$	81,905
Current Period Gross Write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial investor
Pass	$	14,460	$	37,966	$	63,863	$	93,818	$	69,340	$	48,049	$	—	$	327,496
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		716		—		716
Doubtful		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—
Total Commercial investor	$	14,460	$	37,966	$	63,863	$	93,818	$	69,340	$	48,765	$	—	$	328,212
Current Period Gross Write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Construction and land
Pass	$	3,598	$	27,101	$	154	$	2,136	$	989	$	766	$	—	$	34,744
Special Mention		—		—		123		—		—		—		—		123
Substandard		—		—		—		—		—		26		—

BV Financial, Inc. 10-Q