Bogota Financial Q1 net income $993K, down 29% YoY; NIM falls 59 bp to 2.05%

Bogota Financial Corp.

2023-Q1 EPS reported $0.08

Net income $993K ($0.08/sh) vs $1.4M ($0.10/sh) YoY, down 29.1%.
Net interest margin 2.05% vs 2.64% YoY; net interest income $4.5M, down 11.7%.
Deposits decreased $10.7M; average deposit cost up 165 bp to 2.25%. Uninsured deposits 8.4% of total.
Non-performing loans increased to $12.9M (1.35% of assets) from one commercial construction loan.
Repurchased 126,660 shares for $1.4M in Q1; regulatory approval for up to 556,631 shares.

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 0.95

Bogota Financial Corp. reported the three months ended March 31, 2023 results: net income $993,000, EPS $0.08 per basic and diluted shares.

Period: the three months ended March 31, 2023
Net income: $993,000
EPS: $0.08 per basic and diluted shares
Result: reported results

Exact text from the filing

reported net income for the three months ended March 31, 2023 of $993,000 or $0.08 per basic and diluted shares

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Source: SEC EDGAR

accession 0001193125-23-127624

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