secwatch.observer — SEC 8-K summary
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Issuer:     Bogota Financial Corp. (BSBK)
CIK:        0001787414
Form:       8-K
Filed at:   2022-10-28T23:59:59+00:00
Accession:  0001193125-22-272111
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1787414/000119312522272111/0001193125-22-272111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1787414/000119312522272111/d414632d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-272111

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