Bogota Financial Q2 net income rises 233.48% to $748,000; net interest margin widens 20 percentage points to 1.94% - BSBK News | RalliesBogota Financial Q2 net income rises 233.48% to $748,000; net interest margin widens 20 percentage points to 1.94%
B
BSBK• Balance sheet and acquisition update
- Deposits fell 12% to $574.2 million at June 30, while FHLB borrowings climbed 51.1% to $141 million amid deposit outflows.
- Management said the planned acquisition of GSL Savings Bank is expected to close in the second half of 2026, pending approvals.
Second-quarter results and margin expansion
- Bogota Financial posted net income of $748,000 in the quarter ended June 30, 2026, up 233.48% from a year earlier.
- Net interest income rose 3.9% to $3.8 million, as net interest margin widened 20 basis points to 1.94%.
- Non-interest income more than doubled to $661,000, reflecting a $300,000 collection on an insurance claim tied to a prior fraud loss.
DAAQ
•
