Bogota Finl Corp Stock Price, News & Analysis

Bogota Financial Corp. (NASDAQ: BSBK) has received regulatory approval for its sixth stock repurchase program, allowing the company to buy back up to 237,590 shares of its common stock. This represents approximately 5% of its outstanding common stock, excluding shares held by Bogota Financial, MHC.

The repurchase program has no expiration date and can be conducted through open market or private transactions, with flexibility to suspend, terminate, or modify the program. The timing and volume of repurchases will be influenced by factors including stock availability, market conditions, trading price, capital allocation alternatives, and company performance.

Bogota Financial Corp. (NASDAQ: BSBK) reported significant financial improvements for Q2 2025, with net income of $224,000 ($0.02 per share) compared to a net loss of $432,000 in Q2 2024. For the first half of 2025, net income reached $955,000 ($0.08 per share), including a one-time $543,000 death benefit from bank-owned life insurance.

Key metrics show total assets decreased 5.1% to $921.8 million, with net loans down 2.6% to $693.2 million. The company's net interest margin improved significantly to 1.74%, up 53 basis points year-over-year. The company completed its 5th stock buyback, reducing outstanding shares by 1,653,571 since IPO and improving tangible book value per minority share from $22.04 to $29.10.

Bogota Financial Corp (NASDAQ: BSBK) reported a positive turnaround with net income of $731,000 ($0.06 per share) for Q1 2025, compared to a net loss of $441,000 in the previous year. The improvement was driven by decreased deposit costs and higher yields on loans and securities, resulting in a $942,000 increase in net interest income.

Key financial metrics include:

• Total assets decreased 4.3% to $930.2 million
• Net loans declined 1.4% to $701.5 million
• Deposits decreased to $633.0 million
• Net interest margin improved to 1.66%

The company received a one-time bank-owned life insurance death benefit of $543,000. Credit quality remains stable with delinquent loans at 1.92% of total loans. The bank maintains strong liquidity with uninsured deposits at 7.9% and no exposure to office space commercial real estate loans.

Bogota Financial Corp. (NASDAQ: BSBK) reported a net loss of $930,000 ($0.07 per share) for Q4 2024 and a net loss of $2.2 million ($0.17 per share) for full-year 2024, compared to a net loss of $1.2 million in Q4 2023 and net income of $643,000 for 2023.

Total assets increased 3.4% to $971.5 million, with cash and cash equivalents up 109.5% to $52.2 million. Net loans decreased 0.4% to $711.7 million, while deposits grew 2.7% to $642.2 million. The company completed a strategic balance sheet restructuring in Q4 2024, including a sale-leaseback transaction of three branch offices resulting in a $9.0 million pre-tax gain, and a securities sale resulting in an $8.9 million pre-tax loss.

The net interest margin decreased to 1.09% in Q4 2024 from 1.35% in Q4 2023, while the average rate paid on deposits increased to 3.73% in 2024 from 3.42% in 2023.

Bogota Financial Corp. (NASDAQ: BSBK) has completed a significant balance sheet restructuring in Q4 2024 through two key transactions. The first involved a sale-leaseback of three branch offices, generating a $9.0 million pre-tax gain. The second transaction resulted in an $8.9 million pre-tax loss from selling securities worth $66.0 million in amortized cost ($57.1 million market value).

The sold securities had a weighted average life of 5.5 years and yielded 1.89%. Part of the proceeds were reinvested in higher-yielding securities at approximately 5.49%, while the remainder will fund loans at current market rates of 6.50% to 7.75% and reduce higher-cost borrowings. The Bank is also removing its held-to-maturity designation on remaining HTM securities. These strategic moves aim to improve net interest margin and return on assets.

Bogota Financial Corp. (NASDAQ: BSBK) issued a correction to its Q3 2024 financial results due to a $300,000 understatement in interest expense on deposits. The corrected figures show a net loss of $367,000 ($0.03 per share) for Q3 2024, compared to a net loss of $29,000 in Q3 2023. For the nine months ended September 30, 2024, the company reported a net loss of $1.2 million ($0.10 per share), versus net income of $1.8 million in the same period of 2023. Total assets increased 4.2% to $978.9 million, while net loans decreased 0.8% to $708.9 million. The company has repurchased 163,790 shares at a cost of $1.2 million under its current buyback program.

Bogota Financial Corp reported a net loss of $147,000 ($0.01 per share) for Q3 2024, compared to a net loss of $29,000 in Q3 2023. For the nine months ended September 30, 2024, the company reported a net loss of $1.0 million ($0.08 per share), versus net income of $1.8 million in the same period 2023. Total assets increased 4.2% to $978.8 million, with securities up 33.3% to $188.7 million. Net loans decreased 0.8% to $708.9 million. The company completed its third stock repurchase program and began its fourth, repurchasing 163,790 shares at a cost of $1.2 million.

Bogota Financial Corp. (NASDAQ: BSBK) reported a net loss of $432,000 for Q2 2024, compared to net income of $857,000 in Q2 2023. For the first half of 2024, the company reported a net loss of $873,000, down from net income of $1.8 million in the same period last year. The decrease was primarily due to a $1.5 million decrease in net interest income.

Key financial highlights include:

• Total assets increased 3.8% to $974.7 million
• Net loans decreased 1.0% to $707.6 million
• Total deposits increased 3.8% to $649.1 million
• Federal Home Loan Bank advances increased 7.0% to $179.4 million

The company's net interest margin decreased 75 basis points to 1.21% for Q2 2024. Bogota Financial Corp. also continued its stock repurchase program, buying back 107,323 shares at a cost of $735,000 during the quarter.

Bogota Financial Corp. reported a net loss of $441,000 for the three months ended March 31, 2024, compared to a net income of $993,000 for the same period in the prior year. Total assets increased to $961.2 million, with growth in securities and deposits. However, net loans decreased, impacting the overall financial performance.