Bogota Financial Corp.

Listed Company

BSBKCIK 0001787414NasdaqNon-AcceleratedSmaller ReportingSavings Institutions, Not Federally CharteredFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$2.09M

Total Assets

$904.95M

Equity

$140.91M

Shares Out

12.92M

Op. Cash Flow

$3.20M

Business

Bogota Financial Corp. is a bank holding company that principally holds the common stock of Bogota Savings Bank and provides limited holding-company functions, including a loan to the bank’s employee stock ownership plan. Its primary banking subsidiary, Bogota Savings Bank, offers deposit accounts and originates one- to four-family residential mortgages, commercial and multi‑family real estate loans, construction loans, consumer and commercial loans, and maintains an investment securities portfolio. The company’s key entities include Bogota Savings Bank, mutual holding company Bogota Financial, MHC, and subsidiaries such as Bogota Securities Corp. and Bogota Properties, LLC. Banking and lending activities are conducted primarily through branch offices and a loan production office in New Jersey counties (including Bergen, Morris and Essex), supplemented by mortgage brokers, brokered deposits and Federal Home Loan Bank borrowings.

Summary from filing dated 2025-03-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans	34	33	32	26	23
Taxable	8	7	4	4	2
Tax-exempt	11,571	50,892	91,428	161,187	58,888
Other interest-earning assets	2	1	1	403,969	424,539
Total interest income	43	42	37	30	25
Deposits	22	25	18	5	4
FHLB of New York advances	5	7	4	2	2
Total interest expense	28	31	22	—	—
Net interest income	15	11	15	23	19
Recovery of provision for credit losses	−130,000	−148,000	−125,000	425,000	—
Net interest income after recovery of provision for credit losses	16	11	15	23	19
Fees and service charges	230,945	228,685	206,763	179,734	136,211
Gain on sale of loans	37,830	31,942	29,375	86,913	786,424
Gain on sale of properties	5,973	9	0	—	—
Loss on sale of securities	0	−9	0	—	—
Bank owned life insurance	1	871,753	781,526	694,900	1
Other	57,330	141,622	121,371	162,126	183,454
Total non-interest income	2	1	1	1	4
Labor and Related Expense	8	9	10	9	8
Occupancy and equipment	3	1	1	1	1
Federal Deposit Insurance Corporation (FDIC) insurance premiums	403,905	424,090	418,215	220,210	217,300
Data processing	1	1	969,398	1	1
Advertising	172,985	371,790	465,064	492,859	276,665
Director fees	536,191	622,799	619,650	800,611	873,008
Professional fees	1	789,646	661,045	546,004	735,067
Other	792,592	960,230	1	988,081	1
Total non-interest expenses	15	15	16	14	14
Income (loss) before income taxes	2	−3	480,378	9	9
Income tax benefit	−18,278	−371,569	−162,157	3	2
Net income (loss)	2	−2	642,535	7	8
Earnings (loss) per share - basic (in dollars per share)	0.17	−0.17	0.05	0.51	0.55
Earnings (loss) per share - diluted (in dollars per share)	0.17	−0.17	0.05	0.51	0.54
Weighted average shares outstanding (in shares)	13	13	13	—	—
Weighted average shares outstanding - diluted (in shares)	13	13	13	14	14

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	12	18	14	8	14
Interest-bearing deposits in other banks	24	34	11	9	91
Cash and cash equivalents	36	52	25	17	105
Securities available for sale	158	140	—	—	—
Loans, net of allowance $2,529,949 and $2,620,949, at December 31, 2025 and 2024, respectively	648	712	—	—	—
Premises and equipment, net	4	5	8	8	8
Regulatory stock	5	9	9	5	—
Interest Receivable	4	4	4	4	3
Core deposit intangibles	107,604	152,893	206,116	267,272	336,364
Bank owned life insurance	32	32	31	30	25
Right-of-use asset	10	11	0	—	—
Investment in limited partnership	2	0	—	—	—
Other assets	5	7	7	5	4
Total assets	905	971	939	951	837
Non-interest bearing	28	33	31	39	39
Interest bearing	624	610	595	663	558
Total deposits	652	642	625	701	597
FHLB advances-short term	20	30	38	59	—
FHLB advances-long term	73	143	130	43	—
Advance payments by borrowers for taxes and insurance	3	3	3	3	3
Present value of net future minimum lease payments	10	11	0	—	—
Other liabilities	5	6	6	5	4
Total liabilities	764	834	802	811	690
Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at December 31, 2025 and 2024	0	0	0	0	—
Common stock $0.01 par value, 30,000,000 shares authorized, 12,925,572 issued and outstanding at December 31, 2025 and 13,059,175 at December 31, 2024	129,255	130,592	132,792	136,989	146,057
Additional Paid-In capital	55	55	56	59	68
Retained earnings	92	90	92	92	85
Unearned ESOP shares (356,188 shares at December 31, 2025 and 382,933 shares at December 31, 2024)	−4	−5	−5	−5	—
Accumulated other comprehensive loss	−2	−4	−6	−6	−272,656
Total stockholders' equity	141	137	137	140	148
Total liabilities and stockholders' equity	905	971	939	951	837

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of intangible assets	99,409	−7,288	−56,583	−229,718	—
Depreciation of premises and equipment	398,468	496,984	514,983	485,118	—
Amortization (accretion) of deferred loan (fees) costs, net	179,929	302,034	141,459	−147,240	555,721
Amortization of premiums and accretion of discounts on securities, net	−46,759	−71,420	30,933	155,525	161,191
Deferred income tax benefit expense	−8,693	−457,536	−624,390	503,307	261,277
Proceeds from sale of loans	−2	−1	2	—	—
Origination of loans held for sale	2	1	−2	—	—
Loss on sale of securities	0	9	0	—	—
Gain on sale of premises and equipment	0	−9	0	—	—
Increase in cash surrender value of bank owned life insurance	−1	−871,753	−781,526	−682,204	—
Employee stock ownership plan	208,183	193,210	224,870	280,792	258,247
Stock based compensation	897,485	921,273	932,772	932,772	310,924
Accrued interest receivable	−28,847	−299,778	33,866	−1	445,747
Net changes in other assets	1	−397,027	−1	2	−827,519
Net changes in other liabilities	−342,592	24,217	2	617,367	201,487
Net cash provided by operating activities	3	−3	1	11	6
Purchases of securities available for sale	−60	−77	0	−67	−34
Purchases of securities held to maturity	0	−11	−9	−25	−44
Maturities, calls, and repayments of securities available for sale	45	22	16	15	4
Maturities, calls, and repayments of securities held to maturity	0	7	13	22	34
Proceeds from sale of securities	0	54	0	—	—
Proceeds from sale of premises and equipment	0	12	0	—	—
Net decrease (increase) in loans	64	25,585	4	−149	63
Proceeds from sale of loans from portfolio	0	3	—	—	—
Purchase of equity investment	−3	0	—	—	—
Purchases of premises and equipment	−70,368	−594,787	−318,035	−241,474	−1
Purchase of FHLB stock	−4	−8	−9	−8	−733,900
Redemption of FHLB stock	7	7	6	8	2
Net cash provided by investing activities	50	10	22	−211	35
Net increase (decrease) in deposits	10	17	−76	104	14
Net decrease in short-term FHLB advances	−10	−8	−22	53	—
Proceeds of long-term FHLB non-repo advances	−69	13	87	−36	—
Net increase (decrease) in advance payments from borrowers for taxes and insurance	−218,197	75,496	−440,952	318,541	−350,631
Repurchase of common stock	−1	−2	−4	−10	−481,468
Net cash provided (used in) by financing activities	−70	20	−15	112	−16
Net increase in cash and cash equivalents	−17	27	8	−88	—
Income taxes paid	100,000	40,000	1	2	2
Interest paid	28	31	22	7	6
Fair value change in derivatives	315,633	411,830	239,510	—	—
Fair value change in fair value hedges	−1	−109,594	0	—	—
Right of use asset	10	11	233,448	—	—
Lease liability	10	11	236,957	—	—
Transfer of held to maturity securities to available for sale	0	54	0	—	—

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