secwatch.observer — SEC 8-K summary
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Issuer:     Bogota Financial Corp. (BSBK)
CIK:        0001787414
Form:       8-K
Filed at:   2022-07-28T23:59:59+00:00
Accession:  0001193125-22-204360
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bogota Financial Q2 net income rises 14% to $1.6M; net interest margin improves to 2.85%
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- Q2 net income $1.6M vs $1.4M YoY (+14.1%); H1 net income $3.0M vs $4.4M (down 31.5% due to $1.9M bargain purchase gain in 2021).
- Net interest margin expanded 41 bps to 2.85% in Q2; net interest income up 19.5% to $5.7M.
- Total loans grew $60.6M (+10.6%) to $630.8M; total assets up 4.5% to $874.9M.
- Second stock buyback program for up to 292,568 shares approved; 145,582 shares repurchased by June 30.
- Management expects assets to reach $900M but cites rate hikes and inflation as challenges.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1787414/000119312522204360/0001193125-22-204360-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1787414/000119312522204360/d380014d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-204360

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