Bogota Financial Corp

NASDAQ:BSBK

Bogota Financial Corp. is a holding company, which engages in the provision of business activities that are permissible for mutual holding companies under New Jersey law, including investing in loans and securities. The company is headquartered in Teaneck, New Jersey and currently employs 73 full-time employees. The company went IPO on 2020-01-16. The Bank through its subsidiary operates two retail banking offices in Teaneck and Bogota, New Jersey. The Bank grants residential, commercial and consumer loans to, and accepts deposits from customers in New Jersey. The company attracts deposits from the public and municipalities and use those funds along with advances from the Federal Home Loan Bank of New York and funds generated from operations to originate one- to four-family residential real estate loans and commercial real estate and multi-family loans, consumer loans, commercial and industrial loans, and construction loans. The company offers a variety of deposit accounts, including demand accounts, savings accounts, money market accounts and certificate of deposit accounts. The company also invests in securities, primarily of United States Government and agency obligations, municipal obligations, corporate bonds, and mortgage-backed securities.