landscape portrait of bay harbor
The Bank was originally formed in 1873 as Light Street Saving and Building Association of Baltimore City. In 1963 Light Street Saving and Building Association of Baltimore City merged with Spring Garden Building and Savings Association of Baltimore City and Warwin Building Association of Baltimore City. Originally, all three shared an office and each were open a different night of the week. Shortly after there were two mergers; Hamburg Loan and Savings Association No. 1 of Baltimore City in 1967 and Friendship Building and Loan Association of Baltimore City in 1969. In 1981 they merged again, this time with Hanover Building Association, Inc. In 1988 the Bank changed its name to Light Street Federal Savings and Loan Association. In 1990 Light Street merged with Weekly Federal Savings and Loan Association and again changed its name this time to Bay Federal Savings Association. In 1996 the Bank merged with Vanguard Federal Savings and Loan Association and once again changed its name this time to Bay-Vanguard Federal Savings Bank. In 2005 the Bank converted to stock and formed BV Financial, Inc as its holding company and sole shareholder. Simultaneously Bay-Vanguard MHC was formed to be the majority shareholder of the BV Financial Inc. Bay-Vanguard MHC is 100% owned by the depositors of the Bank. The Bank completed an acquisition in 2013 acquiring Vigilant Federal Saving Bank in Essex. In August 2018 the Bank converted to a state charter and changed its name to BayVanguard Bank.