Bogota Financial Corp. (NASDAQ: BSBK) reported financial results for the three and nine months ended September 30, 2026, in a press release filed with the SEC. For the third quarter of 2026, the company reported net income of $473,000, or $0.04 per basic and diluted share, compared to $455,000, or $0.04 per share, in the prior year period. For the first nine months of 2026, net income increased to $1.9 million, or $0.15 per share, from $1.4 million, or $0.11 per share, in the same period of 2025.
The company noted that net interest income grew 13.9% to $12.7 million for the first nine months of 2026. The net interest margin increased 39 basis points to 2.19% for the three months ended September 30, 2026, from 1.80% in the prior year period. The company recorded no provision for credit losses for the third quarter of 2026.
On the balance sheet, total assets decreased 2.6% to $881.8 million as of September 30, 2026, compared to December 31, 2025. This decline was driven by a decrease in cash and cash equivalents, which fell 44.6% to $19.7 million, and a decrease in securities, which dropped 7.4% to $146.4 million. Total deposits decreased 10.9% to $581.3 million, attributed primarily to a $92.2 million decrease in certificates of deposit, including $10.8 million in brokered deposits. To offset these outflows, the company increased Federal Home Loan Bank advances by 50.8% to $140.7 million.
Bogota Financial also reported the completion of its stock repurchase program. As of September 30, 2026, the company had repurchased 237,590 shares at a cost of $2.1 million, representing the total amount authorized under the program. The company also noted the opening of a new branch in Point Pleasant, New Jersey, as part of its expansion into the southern New Jersey market.
