Bogota Financial (BSBK) Q2 2025 earnings summary

Executive summary

• Net income for Q2 2025 was $224,000 ($0.02/share), reversing a net loss of $432,000 in Q2 2024; six-month net income was $955,000 ($0.08/share) versus a $873,000 loss in the prior year, aided by a $543,000 one-time life insurance benefit.

• Total assets declined 5.1% to $921.8 million at June 30, 2025, mainly from lower cash and loans, partially offset by higher securities.

• Management expects loan demand to rise later in 2025 and into 2026, focusing on commercial portfolio growth and deposit cost reduction.

• The improvement was driven by higher net interest income, increased non-interest income, and lower interest expense.

Financial highlights

• Net interest income rose 34.7% year-over-year for Q2 to $3.7 million, and 35.1% for the six months to $7.3 million.

• Interest expense declined 11.9% in Q2 and 6.6% for the six months, reflecting lower deposit and borrowing costs.

• Non-interest income increased 9.4% in Q2 and 102.7% for the six months, including a $543,000 one-time bank-owned life insurance benefit.

• Non-interest expense rose 3.5% in Q2 and 4.7% for the six months, mainly due to higher occupancy and professional fees post lease-buyback.

• No provision for credit losses in Q2; a $80,000 recovery for the six months.

Outlook and guidance

• Management projects increased loan demand in late 2025 and early 2026, with continued focus on commercial lending and deposit growth to lower funding costs.

• Management expects sufficient liquidity and capital to meet obligations and growth, with a strong capital position and well-capitalized regulatory status.

• Interest rate risk is actively managed, with net interest income simulations indicating exposure is within policy limits.