Borrowings and Subordinated Debt

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Borrowings and Subordinated Debt

Note 7 - Borrowings And Subordinated Debt

A summary of the Company’s borrowings and subordinated debt at September 30, 2024 and December 31, 2023 are indicated as follows:

		September 30, 2024					December 31, 2023
(dollars in thousands)	Maturity	Balance			Rate		Balance			Rate
										—
BV Financial Inc. Series 2020 Notes	2030	$	35,000		4.88%		$	35,000		4.88%
Easton Capital Trust I	2034		—			—		3,093		SOFR + 2.85%
Total Borrowings, gross			35,000					38,093
Less: Debt issuance costs			(155	)				(272	)
Less: net fair value adjustment			—					(570	)
Total Borrowings, net		$	34,845				$	37,251