BV Financial, Inc. Announces Change in Independent Registered Public Accounting Firm

Key Developments

• Dismissal of Current Auditor: On February 20, 2026, the Audit Committee of the Board of Directors of BV Financial, Inc. (Nasdaq: BVFL) approved the dismissal of Forvis Mazars, LLP as the Company’s independent registered public accounting firm. The change will become effective upon completion of Forvis Mazars’ audit of the Company’s consolidated financial statements for the fiscal year ended December 31, 2025, and the filing of the Company’s 2025 Annual Report.
• Engagement of New Auditor: The Audit Committee has approved the appointment of Crowe LLP as the Company’s new independent registered public accounting firm for the fiscal year ending December 31, 2026, subject to Crowe’s standard client acceptance procedures and execution of an engagement letter.
• No Disagreements or Reportable Events: Forvis Mazars’ reports for the years ended December 31, 2023, and December 31, 2024, did not contain any adverse opinions or disclaimers of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. There were also no disagreements or reportable events between BV Financial and Forvis Mazars during these periods or any subsequent interim period.
• Confirmation Letter Filed: Forvis Mazars has provided a letter to the Securities and Exchange Commission stating that they agree with the Company’s disclosures regarding their dismissal, and they have no basis to agree or disagree with other statements in the filing.
• No Prior Relationship with Crowe: During the relevant periods, neither BV Financial nor anyone acting on its behalf consulted with Crowe regarding any matters related to accounting principles, auditing issues, or any reportable events.

What Shareholders Need to Know

• Potential Impact on Share Price: A change in independent auditors is a significant corporate event. Although the Company confirmed there were no disagreements or adverse findings with the outgoing auditor, investors often scrutinize such changes closely as they can sometimes signal underlying corporate governance or financial reporting developments.
• Regulatory and Reporting Continuity: The transition is planned to be seamless, with Forvis Mazars completing the 2025 audit and Crowe LLP taking over thereafter. This approach provides continuity and should help minimize any disruptions or uncertainties regarding the Company’s financial reporting.
• Transparency and Governance: The Company’s proactive communication and the filing of the confirmation letter from Forvis Mazars demonstrate a commitment to transparency and good governance, both of which are generally viewed positively by the market.
• Emerging Growth Company Status: BV Financial is designated as an emerging growth company, which may afford it certain reporting and regulatory accommodations.

Conclusion

The decision by BV Financial, Inc. to change its independent registered public accounting firm from Forvis Mazars, LLP to Crowe LLP is a noteworthy event for investors. While there were no negative opinions, disagreements, or reportable events associated with the outgoing auditor, and no prior consultations with the incoming auditor, shareholders should monitor the transition for any impacts on future financial disclosures or company operations.

The Company’s stock, trading under the symbol BVFL on Nasdaq, may experience volatility as the market digests this news and evaluates the implications for the Company’s governance and financial reporting.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before making investment decisions. The author and publisher are not responsible for any actions taken based on the information provided herein.

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