Bogota Financial Q2 net income triples to $748K, but deposit outflows and rising problem loans weigh
BSBK is trading near its 52-week low of $8.01 (13% above the low) on light trading volume (0.1× avg).
Summary
Bogota Financial reported Q2 2026 net income of $748,000, triple the prior year, but deposit outflows and a spike in non-performing assets signal balance sheet pressure.
Key Events · Earnings and Guidance · BSBK
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Q2 Net Income Triples
Net income reached $748,000 ($0.06 EPS), up from $224,000 ($0.02 EPS) a year ago, aided by a $300,000 insurance recovery and a wider net interest margin.
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Deposit Outflows Accelerate
Total deposits fell $78.2 million (12%) to $574.2 million, driven by a $91.4 million drop in CDs, which forced a $47.7 million increase in FHLB advances.
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Non-Performing Assets Spike
Non-performing assets rose to $25.9 million (2.96% of total assets) from $13.1 million at year-end, with four large commercial real estate loans delinquent.
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Share Buyback Update
Under the current program, 230,544 shares were repurchased at a cost of $2.0 million, leaving 7,046 shares authorized.
Analysis · BSBK · Finance
Bogota Financial's Q2 net income surged to $748,000 from $224,000 a year ago, driven by wider margins and a one-time insurance recovery. The balance sheet, however, reveals stress: deposits fell $78.2 million, forcing a 51% jump in FHLB borrowings, while non-performing assets nearly doubled to $25.9 million. Although the earnings beat is encouraging, the deposit flight and credit deterioration raise questions about funding stability and asset quality heading into the GSL Savings Bank acquisition.
At the time of this filing, BSBK was trading at $9.04 on NASDAQ in the Finance sector, with a market capitalization of approximately $116.2M. The 52-week trading range was $8.01 to $9.50. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.