Earnings Per Share ("EPS")

9 Months Ended

Sep. 30, 2025

Basic earnings per common share represent income available to common shareholders, divided by the weighted average number of common shares outstanding during the period. As a result of the Conversion, previously outstanding shares held by public stockholders were adjusted to reflect the 1.5309-to-1 exchange ratio. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may have been issued by the Company related to stock options were determined using the treasury stock method and included in the calculation of dilutive common stock equivalents.

For the three and nine months ended September 30, 2025, and 2024, there were no stock options which were excluded from the calculation as their effect would be anti-dilutive. Basic and diluted earnings per share have been computed based on weighted-average common and common equivalent shares outstanding as follows:


	Three Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,				Nine Months Ended September 30,
	2025				2024				2025				2024
(Amounts in thousands, except per share data)	Basic		Diluted		Basic		Diluted		Basic		Diluted		Basic		Diluted

Net income	$	3,730	$	3,730	$	3,798	$	3,798	$	8,690	$	8,690	$	9,771	$	9,771
Weighted average common shares outstanding		9,079		9,079		10,752		10,752		9,778		9,778		10,686		10,686
Dilutive securities
Stock options		—		117		—		30		—		90		—		33
Adjusted weighted average shares outstanding		9,079		9,196		10,752		10,782		9,778		9,868		10,686		10,719
Earnings -per share amount	$	0.41	$	0.41	$	0.35	$	0.35	$	0.89	$	0.88	$	0.91	$	0.91

Note 12 – Earnings Per Share (“EPS”)

BV Financial, Inc. 10-Q