Bogota Financial Q3 net income $1.9M, +85% YoY; approves new 10% share buyback

Bogota Financial Corp.

2022-Q3 EPS reported $0.36 vs consensus $0.15 ▲ beat (+135.3%)

Q3 net income rose to $1.9M from $1.0M a year ago, driven by higher net interest income and lower expenses.
Nine-month net income $5.0M vs $5.5M; excluding 2021 bargain purchase gain and merger costs, adjusted net income $5.0M vs $3.9M.
Net loans grew 24% to $707.1M; total assets $946.2M (+13%) supported by deposit growth of $70.7M.
Completed two 5% buyback plans (588,612 shares); received regulatory approval for new 10% buyback (up to 556,631 shares) in October.
Net interest margin improved 27 bps to 2.85% in Q3; provision for loan losses increased to $175,000.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bogota Financial Corp. reported the nine months ended September 30, 2022 results: net income $5.0 million.

Period: the nine months ended September 30, 2022
Net income: $5.0 million
Result: reported results

Exact text from the filing

The Company reported net income for the nine months ended September 30, 2022 of $5.0 million compared to net income of $5.5 million for the comparable prior year period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bogota Financial Corp. reported the three months ended September 30, 2022 results: net income $1.9 million.

Period: the three months ended September 30, 2022
Net income: $1.9 million
Result: reported results

Exact text from the filing

reported net income for the three months ended September 30, 2022 of $1.9 million, compared to net income of $1.0 million for the comparable prior year period.

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Bogota Financial Corp. filing history →

Source: SEC EDGAR

accession 0001193125-22-272111

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