Correspondence 0001193125-23-140304 from BV Financial, Inc. (BVFL)
BV Financial, Inc.
Date: May 10, 2023 · CIK: 0001302387 · Accession: 0001193125-23-140304
AI Filing Summary & Sentiment
File numbers found in text: 333-270496
Referenced dates: May 9, 2023
Letter
LUSE GORMAN, PC
Attorneys at Law
WISCONSIN AVENUE, N.W., SUITE 780
Washington, D.C. 20015
TELEPHONE (202) 274-2000
Facsimile (202) 362-2902
www.luselaw.com
WRITER’S DIRECT DIAL NUMBER
WRITER’S E-MAIL
(202) 274-2021
zdavis@luselaw.com
May 10, 2023
Via EDGAR
United States Securities and Exchange Commission
Division of Corporation Finance
100 F Street, NE
Washington, DC 20549
Re: BV Financial, Inc.
Amendment No 1 to the Registration Statement on Form S-1
Filed April 24, 2023
File No. 333-270496
To Whom It May Concern:
On behalf of BV Financial, Inc. (the “Company”), filed herewith is the Company’s Pre-Effective Amendment No. 2 to Registration Statement on Form S-1, including exhibits (the “Amended Registration Statement”), which has been marked pursuant to SEC Rule 472 in response to the Staff’s comment letter dated May 9, 2023. The Staff’s comment is reproduced below, followed by the Company’s response.
Amendment No. 1 to Registration Statement on Form S-1
Our inability to generate core deposits may cause us to rely more heavily on wholesale funding strategies, page 18
1. We note your response to prior comment 8 and reissue in part. Consistent with your disclosure on pages 30 and 33, please expand your risk factor to further clarify the significant increase in your dependence on Federal Home Loan Bank borrowings. In this regard, we note the trend in increased borrowings from $12.0 million at December 31, 2022 to $37.5 million at March 31, 2023.
Additional disclosure has been added on page 18 of the Prospectus in response to this comment.
* * *
LUSE GORMAN, PC
United States Securities and Exchange Commission
Division of Corporation Finance
May 10, 2023
Page 2
If you have any questions, please contact the undersigned.
Very truly yours,
Zachary Davis
Show Raw Text
CORRESP 1 filename1.htm CORRESP LUSE GORMAN, PC Attorneys at Law 5335 WISCONSIN AVENUE, N.W., SUITE 780 Washington, D.C. 20015 TELEPHONE (202) 274-2000 Facsimile (202) 362-2902 www.luselaw.com WRITER’S DIRECT DIAL NUMBER WRITER’S E-MAIL (202) 274-2021 zdavis@luselaw.com May 10, 2023 Via EDGAR United States Securities and Exchange Commission Division of Corporation Finance 100 F Street, NE Washington, DC 20549 Re: BV Financial, Inc. Amendment No 1 to the Registration Statement on Form S-1 Filed April 24, 2023 File No. 333-270496 To Whom It May Concern: On behalf of BV Financial, Inc. (the “Company”), filed herewith is the Company’s Pre-Effective Amendment No. 2 to Registration Statement on Form S-1, including exhibits (the “Amended Registration Statement”), which has been marked pursuant to SEC Rule 472 in response to the Staff’s comment letter dated May 9, 2023. The Staff’s comment is reproduced below, followed by the Company’s response. Amendment No. 1 to Registration Statement on Form S-1 Our inability to generate core deposits may cause us to rely more heavily on wholesale funding strategies, page 18 1. We note your response to prior comment 8 and reissue in part. Consistent with your disclosure on pages 30 and 33, please expand your risk factor to further clarify the significant increase in your dependence on Federal Home Loan Bank borrowings. In this regard, we note the trend in increased borrowings from $12.0 million at December 31, 2022 to $37.5 million at March 31, 2023. Additional disclosure has been added on page 18 of the Prospectus in response to this comment. * * * LUSE GORMAN, PC United States Securities and Exchange Commission Division of Corporation Finance May 10, 2023 Page 2 If you have any questions, please contact the undersigned. Very truly yours, Zachary Davis Enclosure cc: Michael Henderson, SEC Robert Klein, SEC John Stickel, SEC James Lopez, SEC David M. Flair, BV Financial, Inc. Timothy L. Prindle, BV Financial, Inc. Scott A. Brown, Esq.