Bogota Financial Reports Mixed Q1 Results with Deposit Outflows and Increased Delinquent Loans

summarizeSummary

Bogota Financial Corp. reported Q1 2026 net income of $706,000, a slight decrease from the prior year, with strong net interest margin growth but concerning deposit outflows and an increase in delinquent loans.

check_boxKey Events

• Net Income Slightly Decreased

  Q1 2026 net income was $706,000 ($0.06 EPS), a slight decrease from $731,000 ($0.06 EPS) in Q1 2025.

• Significant Deposit Outflows

  Total deposits decreased by $51.6 million (7.9%) to $600.9 million from December 31, 2025, primarily due to a $65.4 million decrease in certificates of deposit.

• Increased FHLB Borrowings

  Federal Home Loan Bank (FHLB) advances increased by $22.6 million (24.2%) to $115.9 million, used to offset the deposit outflows.

• Improved Net Interest Margin

  Net interest income increased by $833,000 (23.2%) to $4.4 million, and net interest margin expanded by 54 basis points to 2.20%.

auto_awesomeAnalysis

Bogota Financial Corp. reported a slight decrease in Q1 2026 net income year-over-year, alongside a notable 7.9% decline in total deposits and a 3.1% decrease in total assets. This led to a 24.2% increase in Federal Home Loan Bank advances to offset deposit outflows. While the company achieved a significant 23.2% increase in net interest income and a 54 basis point improvement in net interest margin, the rise in delinquent loans and non-performing assets indicates potential credit quality concerns. Investors should monitor deposit trends and asset quality in future reports.