Bogota Financial Q2 net income falls 48% to $0.07 EPS; NIM compresses to 1.96%

Bogota Financial Corp.

2023-Q2 EPS reported $0.14

Net income $857k ($0.07 EPS) vs $1.6M ($0.12 EPS) in Q2 2022, down 47.8%.
Net interest margin 1.96% vs 2.85% a year ago as deposit costs surged to 2.68% from 0.59%.
Non-performing assets rose to $12.9M (1.35% of assets) partly due to a $10.9M delinquent construction loan.
Share repurchases: completed first 556,631-share program; second 249,920-share program underway.
Deposits fell $44.9M to $656.6M; FHLB advances increased $24.9M to $127.2M.

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 six months ended June 30, 2023 results: net income $1.8 million, EPS $0.14 per basic and diluted shares.

Period: six months ended June 30, 2023
Net income: $1.8 million
EPS: $0.14 per basic and diluted shares
Result: reported results

Exact text from the filing

The Company reported net income for the six months ended June 30, 2023 of $1.8 million, or $0.14 per basic and diluted shares

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bogota Financial Corp. reported three months ended June 30, 2023 results: net income $857,000, EPS $0.07 per basic and diluted share.

Period: three months ended June 30, 2023
Net income: $857,000
EPS: $0.07 per basic and diluted share
Result: reported results

Exact text from the filing

Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company for Bogota Savings Bank (the “Bank”), reported net income for the three months ended June 30, 2023 of $857,000, or $0.07 per basic and diluted share

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Bogota Financial Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-197167

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