Bogota Financial Q3 net loss of $29K; net interest margin shrinks to 1.47% from 2.85% YoY

Bogota Financial Corp.

2023-Q3 EPS reported $0.14

Net loss of $29K ($0.00 EPS) in Q3 2023 vs net income of $1.9M ($0.14 EPS) in Q3 2022.
Net interest margin fell 138 bps to 1.47% in Q3 2023; interest expense surged 208.7% driven by deposit cost.
Total deposits fell 8.0% YoY to $645.3M; FHLB advances up 32.2% to $135.3M to offset outflows.
Non-performing assets rose to $12.3M (1.33% of assets) vs prior period; delinquent loans increased $18M to $19.5M.
Share buyback: 318,560 shares repurchased YTD at $3.0M under two approved programs.

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 three months ended September 30, 2023 results: net income net loss of $29,000, EPS $0.00 per basic and diluted share.

Period: three months ended September 30, 2023
Net income: net loss of $29,000
EPS: $0.00 per basic and diluted share
Result: reported results

Exact text from the filing

reported net loss for the three months ended September 30, 2023 of $29,000, or $0.00 per basic and diluted share

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Bogota Financial Corp. reported nine months ended September 30, 2023 results: net income net income of $1.8 million, EPS $0.14 per basic and diluted shares.

Period: nine months ended September 30, 2023
Net income: net income of $1.8 million
EPS: $0.14 per basic and diluted shares
Result: reported results

Exact text from the filing

reported net income for the nine months ended September 30, 2023 of $1.8 million, or $0.14 per basic and diluted shares

View on SEC.gov

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Bogota Financial Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-269042

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