Bogota Financial (BSBK) Q3 2025 earnings summary

Executive summary

• Net income for Q3 2025 was $455,000 ($0.04/share), reversing a net loss of $367,000 in Q3 2024, driven by higher net interest income and lower interest expense.

• For the nine months ended September 30, 2025, net income was $1.4 million ($0.11/share), up from a net loss of $1.2 million in the prior year period, aided by a one-time $543,000 bank-owned life insurance death benefit.

• Regulatory approval was received for a new stock repurchase program; 4,821 shares repurchased at an average price of $8.78, totaling $42,000 as of September 30, 2025.

• Total assets decreased 4.7% to $925.8 million from December 31, 2024, mainly due to lower cash and loans, partially offset by higher securities.

Financial highlights

• Net interest income rose 46.6% year-over-year to $3.9 million for Q3 2025 and 38.9% to $11.2 million for the nine months, reflecting improved spreads and margins.

• Net interest margin improved to 1.80% for Q3 2025 and 1.73% for the nine months, up from 1.15% and 1.18% in the prior year periods.

• Interest expense declined 15.4% for the quarter and 9.7% for the nine months, primarily due to lower deposit and borrowing costs.

• Non-interest income for the nine months increased 65.9% to $1.5 million, mainly from the insurance benefit.

• Non-interest expense rose 3.7% for the quarter and 4.4% for the nine months, with higher professional and occupancy costs offset by lower salaries and advertising.

Outlook and guidance

• Management expects sufficient liquidity and capital to meet obligations, with a strong capital position and regulatory ratios well above requirements.

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

• Management remains focused on sustainable growth, operational efficiency, and long-term value creation amid a challenging interest rate environment.