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                                 March 30, 2007


VIA EDGAR
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Mr. Paul Cline
Senior Accountant
Securities and Exchange Commission
100 F. St., NE
Washington, DC 20549

         Re:      BV FINANCIAL, INC.
                  FORM 10-KSB FOR FISCAL YEAR ENDED JUNE 30, 2006
                  FILED SEPTEMBER 28, 2006
                  FILE NO. 000-51014
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Dear Mr. Cline:

         On behalf of our client, BV Financial, Inc. (the "Company"), we are
responding to the comment received from your office by letter dated March 7,
2007 to our response letter, dated February 26, 2007. To aid in your review, we
have repeated the Staff's comment followed by the Company's response and
indicated where the document has been revised in response to such comment.

FORM 10-K/A
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COMMENT NO. 1

         WE HAVE REVIEWED YOUR RESPONSE AND YOUR AMENDMENT TO YOUR FORM 10-KSB
FILED FEBRUARY 26, 2007. YOU HAVE RESTATED YOUR EARNINGS PER SHARE PRESENTATION
DUE TO AN ERROR IN THE APPLICATION OF SFAS 128. PLEASE REVISE YOUR FILING TO
LABEL YOUR FINANCIAL STATEMENTS AS RESTATED, PROVIDE A TABULAR DISCLOSURE
SHOWING THE EFFECTS OF THE RESTATEMENTS AND PROVIDE THE DISCLOSURES REQUIRED BY
PARAGRAPH 26 OF SFAS 154. PLEASE REVISE ALL QUARTERLY EARNINGS PER SHARE DATA
PREVIOUSLY FILED IN YOUR SUBSEQUENT FORM 10-QSBS AS NECESSARY. ADDITIONALLY,
PLEASE HAVE YOUR AUDITORS REVISE THEIR AUDIT OPINION TO INCLUDE AN EMPHASIS OF
MATTER PARAGRAPH RELATED TO THEIR RESTATEMENT DISCLOSURES.

RESPONSE TO COMMENT NO. 1

         The requested change has been made to pages F-1, F-3 and F-10 on the
Form 10-K/A for the year ended June 30, 2006, a copy of which is being filed via
Edgar with the Securities and Exchange Commission today. Please note that there
were no errors in the application of SFAS


 2

Mr. Paul Cline
March 30, 2007
Page 2


128 regarding earnings per share presentation for any Form 10-QSB that was filed
subsequent to the filing of the Form 10-KSB for the year ended June 30, 2006.
Accordingly, no amendments to such documents have been filed.

        Please also be advised that the Company acknowledges that:

        o    the Company is responsible for the adequacy and accuracy of the
             disclosure in the filing;

        o    staff comments or changes to disclosure in response to staff
             comments do not foreclose the Commission from taking any action
             with respect to the filing; and

        o    the Company may not assert staff comments as a defense in any
             proceeding initiated by the Commission or any person under the
             federal securities laws of the United States.

                                    * * * * *

        If you have any questions about our responses or require any additional
information, please do not hesitate to contact me at (202) 686-4930.

                                          Very truly yours,

                                          MULDOON MURPHY & AGUGGIA LLP

                                          /s/ Scott A. Brown

                                          Scott A. Brown


cc:      Rebekah Blakeley Moore, Securities and Exchange Commission
         Edmund T. Leonard, BV Financial, Inc.
         Paul M. Aguggia, Esq., Muldoon Murphy & Aguggia LLP