secwatch.observer — SEC 8-K summary
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Issuer:     Bogota Financial Corp. (BSBK)
CIK:        0001787414
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0001193125-22-136400
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bogota Financial Q1 net income $1.4M, flat vs adjusted prior year; assets rise to $850.7M
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- Net income $1.4M for Q1 2022; adjusted net income also $1.4M after excluding 2021 bargain purchase gain and merger costs.
- Total assets $850.7M (+1.6% from Dec 2021); deposits $619.9M (+3.8%) driven by new $20M municipal relationship.
- Net interest margin improved to 2.64% from 2.50% year-over-year; no provision for loan losses recorded.
- Completed initial 5% buyback (296,044 shares); Board approved new 5% buyback plan subject to regulatory approval.
- Non-performing assets low at $1.9M (0.23% of total assets); allowance for loan losses 111.8% of NPLs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1787414/000119312522136400/0001193125-22-136400-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1787414/000119312522136400/d232949d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-136400

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