Tue, May 13, 7:00 PM (62 days ago)
### Bogota Financial Corp. (BSBK) Q1 2025 Financial Summary **Financial Health and Performance:** - **Revenue:** Total assets decreased by $41.3 million (4.3%) to $930.2 million due to reductions in cash, loans, and securities. - **Profit Margins:** Net income increased by $1.2 million to $731,000, driven by higher net interest income and non-interest income. - **Cash Flow:** Net cash used for operating activities was $(16,015) thousand, with significant investing and financing activities impacting cash flows. **Key Metrics:** - **Net Interest Income:** Increased by $942,000 (35.5%) to $3.6 million, reflecting a 44 basis point increase in the net interest rate spread. - **Non-Interest Income:** Rose by $590,000 (197.4%) to $889,000, primarily due to bank-owned life insurance income. - **Non-Interest Expense:** Increased by $217,000 (5.9%) to $3.9 million, mainly due to higher occupancy and equipment costs. **Quarterly Performance Discussion:** - **Assets:** Decrease in cash and cash equivalents by $26.6 million (51.0%) and loans by $10.2 million (1.4%). - **Liabilities:** Total liabilities decreased by $42.3 million (5.1%) due to reductions in borrowings and deposits. - **Equity:** Stockholders’ equity increased by $965,000 to $138.3 million, driven by net income and a decrease in accumulated other comprehensive loss. **Trends and Uncertainties:** - **Interest Rate Environment:** Higher yields on interest-earning assets and lower average balances on certificates of deposit. - **Loan Portfolio:** Decrease in demand for residential and construction loans due to interest rate conditions. - **Market Risk:** Sensitivity to changes in interest rates, managed through strategies like adjustable-rate loans and core deposit products. **Future Operations Impact:** - **Liquidity:** Adequate sources of liquidity to meet short- and long-term needs, with a strong liquidity position. - **Capital Resources:** Exceeded regulatory capital requirements, considered "well capitalized" under regulatory guidelines. **Conclusion:** Bogota Financial Corp. demonstrated improved financial performance in Q1 2025, with increased net income and managed market risks. The company maintains a strong liquidity and capital position, positioning it well for future operations despite economic uncertainties.