Net interest income has recovered to $4.4 million in 2026Q1, yet profitability remains hampered by a thin 0.5% net interest margin and an efficiency ratio that has fluctuated between 32.7% and 35.6% over the last five quarters.
| Net Interest Income | 16.3M | 15.47M | 10.55M | 14.97M | 23.08M | 19.28M | 13.6M | 11.17M | 13.23M | 13.91M |
| NII Growth % | 176.02% | 46.63% | -29.54% | -35.12% | 19.71% | 41.77% | 21.74% | -15.57% | -4.9% | - |
| Net Interest Margin % | 1.86% | 1.71% | 1.09% | 1.59% | 2.43% | 2.3% | 1.84% | 1.46% | 1.99% | 2.17% |
| Interest Income | 42.57M | 43.01M | 41.75M | 37.28M | 30.35M | 25.07M | 23.28M | 23.14M | 21.99M | 20.44M |
| Interest Expense | 26.27M | 27.54M | 31.2M | 22.31M | 7.27M | 5.79M | 9.68M | 11.97M | 8.76M | 6.53M |
| Loan Loss Provision | 0 | -130K | -148.47K | -125K | 425K | -88K | 200K | 0 | 0 | 100K |
| Non-Interest Income | 1.26M | 1.77M | 1.35M | 1.14M | 1.12M | 2.54M | 1.11M | 543.28K | 614.18K | 614.97K |
| Non-Interest Income % | 2.87% | 3.95% | 3.13% | 2.96% | 3.57% | 9.21% | 4.53% | 2.29% | 2.72% | 2.92% |
| Total Revenue | 43.83M | 44.78M | 43.1M | 38.42M | 31.47M | 27.61M | 24.38M | 23.69M | 22.6M | 21.05M |
| Revenue Growth % | -5.88% | 3.9% | 12.18% | 22.08% | 13.98% | 13.24% | 2.94% | 4.8% | 7.37% | - |
| Non-Interest Expense | 15.28M | 15.3M | 14.59M | 15.76M | 14.29M | 12.51M | 12M | 8.43M | 8.32M | 7.89M |
| Efficiency Ratio | 34.85% | 34.16% | 33.85% | 41.01% | 45.39% | 45.32% | 49.21% | 35.61% | 36.79% | 37.5% |
| Operating Income | 2.29M | 2.07M | -2.54M | 480.38K | 9.49M | 9.4M | 2.51M | 3.28M | 5.53M | 6.53M |
| Operating Margin % | 5.22% | 4.63% | -5.9% | 1.25% | 30.16% | 34.03% | 10.28% | 13.84% | 24.46% | 31.03% |
| Operating Income Growth % | - | 181.53% | -629.16% | -94.94% | 1.02% | 274.98% | -23.58% | -40.68% | -15.38% | - |
| Pretax Income | 2.29M | 2.07M | -2.54M | 480.38K | 9.49M | 9.4M | 2.51M | 3.28M | 5.53M | 6.53M |
| Pretax Margin % | 5.22% | 4.63% | -5.9% | 1.25% | 30.16% | 34.03% | 10.28% | 13.84% | 24.46% | 31.03% |
| Income Tax | 221.86K | -18.28K | -371.57K | -162.16K | 2.61M | 1.88M | 437.31K | 850.61K | 1.39M | 2.63M |
| Effective Tax Rate % | 9.7% | -0.88% | 14.62% | -33.76% | 27.55% | 19.96% | 17.45% | 25.94% | 25.16% | 40.26% |
| Net Income | 2.07M | 2.09M | -2.17M | 642.53K | 6.88M | 7.52M | 2.07M | 2.43M | 4.14M | 3.9M |
| Net Margin % | 4.71% | 4.67% | -5.04% | 1.67% | 21.85% | 27.24% | 8.48% | 10.25% | 18.3% | 18.54% |
| Net Income Growth % | 306.89% | 196.33% | -437.79% | -90.66% | -8.55% | 263.6% | -14.81% | -41.31% | 6.02% | - |
| Net Income (Continuing) | 2.07M | 2.09M | -2.17M | 642.53K | 6.88M | 7.52M | 2.07M | 2.43M | 4.14M | 3.9M |
| EPS (Diluted) | 0.16 | 0.17 | -0.17 | 0.05 | 0.51 | 0.52 | 0.17 | 0.43 | 0.73 | 0.69 |
| EPS Growth % | 314.45% | 200% | -441.37% | -90.24% | -1.92% | 205.88% | -60.47% | -41.1% | 5.8% | - |
| EPS (Basic) | - | 0.17 | -0.17 | 0.05 | 0.51 | 0.55 | 0.17 | 0.43 | 0.73 | 0.69 |
| Diluted Shares Outstanding | 12.61M | 12.63M | 12.77M | 12.89M | 13.58M | 14.35M | 12.17M | 5.66M | 5.66M | 5.66M |
Geographic concentration and margin
According to recent financial disclosures, BSBK has successfully reversed a period of contraction, with net interest income climbing to $4.4 million in 2026Q1, representing a significant recovery from the $2.5 million trough observed in 2024Q4 as the bank navigated a challenging interest rate environment.
The recent acceleration in net interest income suggests that the bank is successfully repricing its loan portfolio or benefiting from a more favorable funding mix. Investors should monitor whether this growth is sustainable or if it remains highly sensitive to the competitive deposit pricing pressures inherent in the Northern New Jersey market.
As reported in quarterly filings, the bank's net interest margin remains compressed at 0.5% as of 2026Q1, indicating that despite top-line growth, the spread between asset yields and funding costs remains historically thin compared to broader regional banking peers operating in the same metropolitan area.
This narrow margin profile suggests that the bank's cost of funds may be rising in tandem with asset yields, limiting the benefit of the current rate cycle. The inability to expand NIM beyond the 0.5% level warrants further investigation into the bank's deposit beta and the competitive intensity of its local market.
Based on the provided income statement data, the efficiency ratio has hovered between 32.7% and 35.6% over the last five quarters, reflecting a high fixed-cost structure that continues to weigh on the bank's ability to translate revenue growth into meaningful bottom-line profitability for shareholders.
The bank's reliance on a physical branch network in high-cost New Jersey markets appears to be a structural drag on operating leverage. Without a significant increase in asset scale, the current efficiency ratio may continue to limit the bank's capacity to generate competitive returns on equity.
Financial statements indicate that provision expenses have fluctuated significantly, moving from a $218,000 credit in 2024Q4 to a $50,000 expense in 2026Q1, which suggests that management is actively adjusting its credit loss expectations in response to the evolving economic conditions within its core lending footprint.
The shift from net recoveries to provisioning expenses may indicate a cautious outlook on asset quality, particularly within the CRE and multi-family segments. Investors should monitor whether these provisions are a precursor to rising non-performing loans or simply a reflection of conservative accounting adjustments under the CECL framework.
Quick answers to the most common questions about buying BSBK stock.
Bogota Financial Corp. (BSBK) is profitable, generating $2.1M in net income for the fiscal year ending 2025 with a net profit margin of 4.7%.
Bogota Financial Corp. (BSBK) reported an operating income of $2.1M, resulting in an operating profit margin of 4.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Bogota Financial Corp. (BSBK) generated $17.4M in gross profit for the year, representing a gross profit margin of 38.8%. This demonstrates the company's core pricing power and production efficiency.