GET DAILY SIGNALSBogota Financial Corp. (BSBK) Reports Q3 Margin Expansion Amid Merger Costs
Key Takeaways
- Bogota Financial Corp. reported third-quarter 2026 net income of approximately $473,000, or $0.04 per basic and diluted share, compared with roughly $455,000, or $0.04 per share, in the prior-year quarter.
- Net interest income rose 14.9% to about $4.5 million, while the net interest margin expanded 39 basis points to 2.19% from 1.80% a year earlier.
- The company recorded no provision for credit losses during the quarter, reflecting stable credit quality and adequately collateralized non-performing loans.
- Non-interest expense increased 12.5%, driven in part by $311,000 in merger-related legal costs tied to the company's pending acquisition of GSL Financial.
- Nine-month net income climbed to $1.9 million, or $0.15 per share, up from $1.4 million, or $0.11 per share, in the same period of 2025.
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Earnings Context and Why It Matters
Bogota Financial Corp. (BSBK), the holding company for Bogota Savings Bank, operates as a community bank serving retail and commercial customers primarily in New Jersey. This quarterly report carries added weight because the company is navigating a strategic shift while managing a shrinking deposit base. Results highlight how a higher net interest margin can offset balance-sheet contraction. Investors are also closely watching the pending merger with New Jersey-chartered GSL Financial, which introduced one-time expenses during the quarter. The report offers a window into whether core profitability is improving on a sustainable basis, even as merger costs and deposit outflows create near-term noise. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Reported Results
For the three months ended September 30, 2026, Bogota Financial reported net income of approximately $473,000, or $0.04 per basic and diluted share, compared with about $455,000, or $0.04 per share, in the same period of 2025. Net interest income increased $579,000, or 14.9%, to roughly $4.5 million from $3.9 million a year earlier.
The improvement was driven by margin expansion. The net interest margin rose 39 basis points to 2.19% from 1.80%, while the net interest rate spread widened to 1.68% from 1.30%. The bank recorded no provision for credit losses in the quarter, versus a $50,000 recovery in the prior-year period, with management noting that non-performing loans are adequately collateralized. Non-interest income edged up 4.9% to $337,000, while non-interest expense rose $467,000, or 12.5%, including $311,000 in merger expense and higher advertising tied to a new branch opening. Income tax expense increased to $132,000 from $73,000.
For the nine months ended September 30, 2026, net income increased $516,000 to $1.9 million, or $0.15 per share, from $1.4 million, or $0.11 per share, in the prior-year period. Total assets stood at roughly $881.9 million at September 30, 2026, down from $905.0 million at year-end 2025, while total deposits declined to $581.3 million from $652.4 million.
Market Reaction and Investor Sentiment
Bogota Financial is a thinly traded small-cap stock, so price moves around earnings tend to be modest and can reflect low liquidity as much as fundamentals. The third-quarter report showed core improvement in net interest income and margin, which are typically viewed favorably by community-bank investors. However, the presence of merger-related expenses and ongoing deposit outflows tempered enthusiasm. The pending GSL Financial transaction remains a central theme in investor sentiment, as deal costs weigh on near-term results while the strategic rationale shapes longer-term expectations. With no consensus estimate widely available for the quarter, the market's read focused on the trajectory of profitability and the health of the balance sheet rather than headline beats or misses.
Forward Outlook and Key Factors to Monitor
The most important catalyst ahead is the completion of the pending merger with GSL Financial. Investors will watch for updates on regulatory approvals, expected closing timelines, and any further integration-related costs that could flow through non-interest expense in coming quarters. Until the deal closes, merger expense is likely to remain a recurring line item that pressures reported earnings.
Deposit trends also deserve close attention. Total deposits declined significantly during 2026, and the bank has relied on Federal Home Loan Bank (FHLB) advances to fund its balance sheet. Whether core deposits stabilize will be a key signal for funding costs and, by extension, the sustainability of the improved net interest margin.
Finally, credit quality remains an area to monitor. Management reported no provision for credit losses this quarter, but the bank continues to work through specific non-performing construction loans. Any deterioration in commercial real estate collateral values could change that outlook. Overall, the forward story hinges on successful deal execution, deposit stabilization, and margin durability in the current interest-rate environment. From what I see, these factors will determine how sustainable the recent margin gains prove to be.
Exploring AI Tools for Bank Stock Research
I often rely on Tickeron's AI Screener when analyzing smaller community banks like this one. The tool lets me filter by industry, technical patterns, fundamentals, and performance metrics to quickly compare peers and surface relevant signals. It has become a regular part of my workflow for identifying how individual names stack up against broader sector trends without spending hours on manual reviews.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
BSBK sees its Stochastic Oscillator climbs out of oversold territory
On October 23, 2026, the Stochastic Oscillator for BSBK moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 55 instances where the indicator left the oversold zone. In 27 of the 55 cases the stock moved higher in the following days. This puts the odds of a move higher at over 49%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 28, 2026. You may want to consider a long position or call options on BSBK as a result. In 63 of 152 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 41%.
The Moving Average Convergence Divergence (MACD) for BSBK just turned positive on October 12, 2026. Looking at past instances where BSBK's MACD turned positive, the stock continued to rise in 25 of 57 cases over the following month. The odds of a continued upward trend are 44%.
BSBK moved above its 50-day moving average on October 28, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for BSBK crossed bullishly above the 50-day moving average on October 30, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 5 of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 29%.
Following a +0.44% 3-day Advance, the price is estimated to grow further. Considering data from situations where BSBK advanced for three days, in 58 of 181 cases, the price rose further within the following month. The odds of a continued upward trend are 32%.
The Aroon Indicator entered an Uptrend today. In 56 of 170 cases where BSBK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 33%.
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BSBK declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 40%.
BSBK broke above its upper Bollinger Band on October 28, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 49 (best 1 - 100 worst), indicating fairly steady price growth. BSBK’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is 85 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 92 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.821) is normal, around the industry mean (1.258). P/E Ratio (43.476) is within average values for comparable stocks, (13.468). Projected Growth (PEG Ratio) (0.050) is also within normal values, averaging (1.190). Dividend Yield (0.000) settles around the average of (0.036) among similar stocks. BSBK's P/S Ratio (6.341) is slightly higher than the industry average of (3.738).
The Tickeron PE Growth Rating for this company is 96 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BSBK’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 57, placing this stock worse than average.
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General Information
a holding company, which engages in business activities that are permissible for mutual holding companies under New Jersey and Federal law, which includes investing in loans and securities.
Industry RegionalBanks
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