Bogota Financial Corp. (NASDAQ: BSBK) reported net income of $224,000 for Q2 2025, compared to a net loss of $432,000 in Q2 2024. Total assets decreased 5.1% to $921.8 million from $971.5 million. Total deposits decreased 2.2% to $628.2 million. Federal Home Loan Bank advances decreased 21% to $135.9 million.

For the first half of 2025, Bogota Financial Corp. reported net income of $955,000, compared to a net loss of $873,000 in the same period in 2024. Total assets decreased 5.1% to $921.8 million. Total deposits decreased 2.2% to $628.2 million. Federal Home Loan Bank advances decreased 21% to $135.9 million.

Interest income increased by $893,000 to $21.4 million for the six months ended June 30, 2025, due to higher yields on interest-earning assets. Interest expense decreased by $1.0 million to $14.1 million, attributed to lower average balances and rates. Net interest income increased by $1.9 million to $7.3 million.

Bogota Financial Corp. saw an increase in non-interest income of $619,000 to $1.2 million for the six months ended June 30, 2025. Professional fees increased by $114,000, while occupancy and equipment costs increased by $574,000. Income tax expense increased by $488,000 to $81,000.

Total assets were $921.8 million at June 30, 2025, a decrease of $49.7 million from December 31, 2024. Delinquent loans increased to $20.4 million, with non-performing assets decreasing to $13.9 million. Total liabilities decreased by $50.8 million to $783.4 million.

Bogota Financial Corp. remains dedicated to continued growth in their commercial portfolio while managing risk. The Company saw a significant increase in net income for the first half of 2025 compared to the same period in 2024. Total assets and deposits decreased, while Federal Home Loan Bank advances also decreased significantly.

Read more at GlobeNewswire: Bogota Financial Corp. Reports Results for the Three