Welcome to our dedicated page for Bogota Finl news (Ticker: BSBK), a resource for investors and traders seeking the latest updates and insights on Bogota Finl stock.
Bogota Financial Corp (BSBK) serves as a cornerstone of New Jersey's financial community with over a century of trusted banking services. This dedicated news hub provides investors, customers, and analysts with essential updates on the institution's financial performance, product innovations, and community engagement.
Access timely press releases covering quarterly earnings, regulatory filings, and strategic initiatives alongside updates on residential/commercial lending programs and digital banking enhancements. Our curated collection simplifies tracking BSBK's market position while highlighting its role in local economic development through small business support and financial literacy programs.
Key updates include interest rate changes for deposit accounts, mortgage product adjustments reflecting market conditions, leadership appointments, and recognitions within the banking sector. All content is verified through primary sources to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to Bogota Financial Corp's latest developments, or check back regularly to monitor how this established institution balances traditional community banking with modern financial solutions.
Bogota Financial Corp. (NASDAQ: BSBK) reported Q4 2022 net income of $1.9 million ($0.14/share), down from $2.0 million ($0.15/share) in Q4 2021. For 2022, net income decreased 8.6% to $6.9 million ($0.51/share) from $7.5 million ($0.55/share) in 2021. Total assets rose 13.6% to $951.1 million, while net loans increased 26.1% to $719 million. Total deposits also grew 17.4% to $701.4 million, fueled by a new municipal deposit relationship. However, non-interest income dropped significantly by 79.8%, mainly due to decreased gains on loan sales. CEO Joseph Coccaro noted strong loan growth amid challenges like rising interest rates and inflation, anticipating a slower market ahead.
Bogota Financial Corp. (NASDAQ: BSBK) reported net income of $1.9 million for Q3 2022, an 85.2% increase from $1.0 million in Q3 2021. For the first nine months of 2022, net income reached $5.0 million, down from $5.5 million in the same period last year, affected by a previous one-time gain. Total assets rose 13.0% to $946.2 million, driven by a 24% increase in net loans. Deposits grew by 11.8% to $668.2 million. The company completed share buybacks totaling 588,612 shares. However, returns on assets and equity declined compared to 2021.
Bogota Financial Corp. (BSBK) has received regulatory approval for a stock repurchase program of up to 556,631 shares, representing about 10% of its outstanding shares. This is the company’s third buyback initiative, aimed at enhancing shareholder value. Share repurchases will commence following the release of its Q3 2022 results. While there is no expiration date for the program, repurchases depend on various factors, including stock availability and market conditions.
FAQ
What is the current stock price of Bogota Finl (BSBK)?
What is the market cap of Bogota Finl (BSBK)?
