Bogota Financial Q2 net income more than doubled to $748,000 year over year - BSBK News | RalliesBogota Financial Q2 net income more than doubled to $748,000 year over year
B
BSBK• Balance sheet trends
- Total assets fell 3.3% to $875 million at June 30, while deposits dropped 12% to $574.2 million.
- FHLB advances rose 51.1% to $141 million, while net loans edged down 1.6% to $637.3 million.
Q2 and six-month results improve
- Bogota Financial posted Q2 net income of $748,000, more than doubled from a year earlier; EPS rose to $0.06 from $0.02.
- Six-month net income climbed 52.15% to $1.5 million; EPS increased to $0.12 from $0.08.
Management highlights acquisition and buybacks
- Management highlighted an agreement to acquire GSL Bank, citing planned technology upgrades and continued stock buybacks to support shareholder value.
