secwatch.observer — SEC 8-K summary
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Issuer:     Bogota Financial Corp. (BSBK)
CIK:        0001787414
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001193125-23-127624
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1787414/000119312523127624/0001193125-23-127624-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1787414/000119312523127624/d502667d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-127624

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