Bogota Financial lifts third-quarter profit slightly on higher net interest income

what happened

Bogota Financial, a U.S. bank holding company, reported third-quarter net income that rose slightly from a year earlier. The figures come from Reuters, whose report was produced with automation based on LSEG and company data and then checked by a Reuters journalist.

Net interest income climbed 14.9% on a better net interest margin and lower deposit costs. Non-interest expense rose 12.5%, mainly because of merger-related legal costs and expenses for opening new branches. Earnings per share came in at $0.04.

Deposit balances fell 10.9%. Management said it reduced deposits because loan growth was weak and investment yields were low. Total assets and deposits declined, and higher borrowings partly offset the outflows. The company completed a $2.1 million share buyback, repurchasing 237,590 shares. It gave no specific guidance for the current or future periods.

why it matters

For markets this is a small, company-specific report, but it reflects a common pattern at small U.S. banks: margins improve on cheaper funding while loan demand stays soft. According to the report, the stock trades at about 24 times next-12-month earnings, the same multiple as three months ago.

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