Bogota Financial (BSBK) investor relations material

Executive summary

• Net income for Q2 2026 was $748,000 ($0.06/share), up from $224,000 ($0.02/share) in Q2 2025; six-month net income was $1.5 million ($0.12/share), up from $955,000 ($0.08/share) year-over-year.

• Total assets decreased by 3.3% to $875.0 million at June 30, 2026, mainly due to declines in loans, securities, and cash.

• The company announced a planned merger with GSL Savings Bank, expected to close in the second half of 2026, aiming to expand its customer base and lending capacity.

• Focus remains on prudent lending, technology improvements, and shareholder value through stock buybacks.

Financial highlights

• Net interest income increased by $145,000 (3.9%) for Q2 2026 and by $978,000 (13.4%) for the six months ended June 30, 2026, compared to the prior year.

• Interest income declined 8.7% for Q2 and 6.3% for the six months, mainly due to lower loan balances and yields.

• Interest expense fell 15.6% for Q2 and 16.5% for the six months, reflecting lower deposit and borrowing costs.

• Non-interest income for Q2 2026 rose 99.2% year-over-year, mainly from a $300,000 insurance claim collection; for the six months, non-interest income fell 19.6% due to a prior-year death benefit.

• Non-interest expense for Q2 2026 decreased 5.2% year-over-year, driven by lower salaries, FDIC premiums, and professional fees; for the six months, non-interest expense dropped 3.6%.

Outlook and guidance

• The merger with GSL Savings Bank is expected to add $151.2 million in assets and $120.4 million in deposits, pending regulatory and member approvals.

• Management anticipates growth from the GSL Bank acquisition and expects technology upgrades to enhance competitiveness.

• Strategic focus on balance sheet management to minimize interest rate risk and continue core growth.

• Management expects sufficient liquidity and capital to meet obligations and support growth.