Quarterly ResultMay 6, 2026, 04:13 PM
Bogota Financial Q1 Net Income $706K; Net Interest Income +23.2%
AI Summary
Bogota Financial Corp. reported a slight decrease in net income for the first quarter of 2026 to $706,000, or $0.06 per share, compared to $731,000 in the prior year. Despite this, net interest income saw a significant 23.2% increase to $4.4 million, and the net interest margin improved to 2.20%. The company's total assets decreased by 3.1% to $877.2 million, and total deposits fell by 7.9% to $600.9 million, primarily due to a reduction in certificates of deposit, which was offset by increased FHLB advances.
Key Highlights
- Net income for Q1 2026 was $706,000, a decrease from $731,000 in Q1 2025.
- Earnings per share remained flat at $0.06 for both Q1 2026 and Q1 2025.
- Net interest income increased 23.2% to $4.4 million for Q1 2026.
- Net interest margin improved 54 basis points to 2.20% for Q1 2026.
- Total assets decreased 3.1% to $877.2 million at March 31, 2026.
- Total deposits decreased 7.9% to $600.9 million at March 31, 2026.
- The company repurchased 14,313 shares for $119,000 under its stock repurchase program.
- Delinquent loans increased $1.3 million to $28.1 million, or 4.39% of total loans.