Q1 Earnings Show Deposit Outflows and Rising Delinquent Commercial Real Estate Loans
BSBK sits 25% above its 52-week low of $6.82.
Summary
Bogota Financial reported Q1 net income of $706K with flat EPS, but faced substantial deposit outflows and increased borrowings, alongside a rise in delinquent commercial real estate loans.
Key Events · Earnings and Guidance · BSBK
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Q1 Net Income and EPS
Net income for Q1 2026 was $706K, a 3.4% decrease from $731K in Q1 2025. Basic and diluted EPS remained flat at $0.06.
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Significant Deposit Outflows
Total deposits decreased by $51.6 million (7.9%) to $600.9 million as of March 31, 2026, primarily due to a $65.4 million decrease in certificates of deposit.
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Increased Borrowings
Federal Home Loan Bank borrowings increased by $22.6 million (24.2%) to $115.9 million, used to offset the deposit outflows.
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Deteriorating Asset Quality
Delinquent loans increased by $1.3 million to $28.1 million (4.4% of total loans), driven by an increase in commercial real estate loans. The company recorded a $50K provision for credit losses, compared to an $80K recovery in the prior year.
Analysis · BSBK · Finance
This quarterly report reveals significant deposit outflows and increased reliance on borrowings, which are critical indicators for a bank's financial health. While net interest income improved, the rise in delinquent commercial real estate loans and the shift to a credit loss provision signal potential asset quality concerns. These trends suggest underlying pressures despite flat EPS, and investors will be watching for continued deposit stability and asset quality management in future reports.
At the time of this filing, BSBK was trading at $8.53 on NASDAQ in the Finance sector, with a market capitalization of approximately $110.2M. The 52-week trading range was $6.82 to $9.50. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.