Bogota Financial Business Summary

Bogota Financial Corp. (BSBK) operates as the bank holding company for Bogota Savings Bank, a New Jersey-chartered institution established in 1893. The company generates the majority of its revenue through net interest income, derived from a diverse portfolio of interest-earning assets including one- to four-family residential mortgages, commercial real estate, multi-family loans, and consumer credit lines. Its primary business segments are categorized by lending type, with residential real estate serving as the largest revenue driver, supplemented by commercial and industrial (C&I) lending and investment security management. Within the competitive landscape of the Mid-Atlantic banking sector, BSBK competes directly with regional players such as Kearny Financial Corp. (KRNY), TrustCo Bank Corp NY (TRST), and First Bank (FRBA). As a small-cap community bank with a market capitalization of approximately $111 million, Bogota Financial positions itself as a localized, high-touch alternative to larger commercial banks, focusing its footprint on Bergen, Morris, and Essex Counties. The leadership team is headed by President and CEO Kevin Pace, who assumed the role in November 2023 following the retirement of long-time leader Joseph Coccaro. Pace, who joined the bank in 2013, previously served as Executive Vice President and Chief Risk Officer, bringing extensive experience in compliance and Bank Secrecy Act (BSA) management to the executive suite. He is supported by Executive Vice President and CFO Brian McCourt and Executive Vice President and Chief Lending Officer Robert Walsh, both of whom possess deep pedigrees in regional community banking operations. The company is a majority-owned subsidiary of Bogota Financial, MHC, which holds approximately 65% of the outstanding common stock, ensuring a stable mutual-holding structure. The Board of Directors, chaired by Steven M. Goldberg, was recently bolstered by the 2025 appointment of Peter T. Donnelly to the Audit and IT Committees, while institutional backing includes positions from major firms such as Vanguard Group.