Recent developments include the company's return to profitability in the first half of 2025 following a net loss in 2024, and strategic balance sheet restructuring actions such as sale-leaseback transactions.

• Bogota Financial reported a net loss for full year 2024 despite strategic balance sheet restructuring including sale-leaseback and securities transactions [N3][N4][N5].
• The company reported profit in the three months ended June 30, 2025, with Q2 profit up as of August 2025 [N1][N2].
• As of June 30, 2026, Bogota Financial reported net income of $747,522 and basic and diluted EPS of $0.06, with cash and cash equivalents of approximately $29.9 million [S2].

The company has demonstrated the ability to return to profitability following a net loss in 2024, supported by strategic balance sheet restructuring including sale-leaseback transactions. Its focus on diversified real estate lending with conservative underwriting standards and a strong local market presence may support stable earnings generation. Recent positive net income and earnings per share figures indicate operational improvements.

Bogota Financial Corp. operates in a highly competitive market with larger banks and non-depository financial service providers exerting pressure on deposits and loan growth. The net loss reported in 2024 despite restructuring efforts highlights potential challenges in managing credit risk and operational efficiency. Economic conditions in its primary market area and regulatory changes could adversely affect its financial performance.

Bogota Financial Corp.'s moat is primarily derived from its established presence in its New Jersey market area, with a diversified loan portfolio focused on residential and commercial real estate lending. Its underwriting standards and local market knowledge support risk management. However, the company faces intense competition from larger financial institutions and non-bank lenders, which may limit growth and market share expansion.

• Competitive Pressure: The company faces significant competition from larger banks, credit unions, and non-bank financial service providers, which may limit its ability to grow deposits and loans.
• Credit Risk: Exposure to residential and commercial real estate loans subjects the company to credit risk, especially if economic conditions deteriorate in its primary market area.
• Regulatory Risk: As a bank holding company and savings bank, it is subject to comprehensive regulation and examination, which may impose operational constraints and compliance costs.
• Market Concentration: Concentration in New Jersey real estate markets exposes the company to regional economic and real estate market fluctuations.

• Bogota Financial Corp. is a Maryland corporation formed in September 2019 as the bank holding company of Bogota Savings Bank following a mutual holding company reorganization [S1].
• Bogota Financial Corp. holds the common stock of Bogota Savings Bank and makes loans to its employee stock ownership plan; it does not engage in other business activities [S1].
• Bogota Savings Bank is a New Jersey-chartered savings bank founded in 1893, operating seven offices in New Jersey and a loan production office [S1].
• Bogota Savings Bank's lending area primarily covers Bergen, Morris, Essex, Monmouth, and Ocean Counties in New Jersey, with a diverse and broad economic base [S1].
• At December 31, 2025, Bogota Savings Bank had consolidated total assets of $904.9 million, total deposits of $652.4 million, and total equity of $140.9 million [S1].
• The company faces significant competition for deposits and loans from larger banks, credit unions, brokerage firms, money market funds, mutual funds, and non-depository financial service companies including fintech firms [S1].
• Bogota Financial Corp. completed a stock offering in January 2020, selling 5,657,735 shares at $10.00 per share for gross proceeds of $56.6 million [S1].
• Bogota Financial Corp. does not own or lease any property and employs only officers of Bogota Savings Bank; it may hire additional employees if it expands its business [S1].
• Bogota Financial Corp. and its mutual holding company are subject to regulation and examination by the New Jersey Department of Banking and Insurance and the Federal Reserve Board [S1].
• The loan portfolio at December 31, 2025, totaled approximately $650.2 million, with 68.3% in one- to four-family residential real estate loans, 27.8% in commercial and multi-family real estate loans, and a small portion in consumer loans [S1].
• Residential real estate loans include fixed-rate and adjustable-rate loans, generally underwritten to Fannie Mae and Freddie Mac guidelines, with loan-to-value ratios up to 80% or 90% with mortgage insurance [S1].
• Commercial real estate loans are secured primarily by office buildings, industrial, retail, and other commercial properties, mostly in the primary market area, with loan-to-value ratios up to 70% for originated loans [S1].
• Multi-family real estate loans are secured by properties with five or more rental units, with loan-to-value ratios up to 75% for originated loans [S1].
• Consumer loans consist primarily of consumer lines of credit and represent less than 1% of the total loan portfolio [S1].
• Bogota Financial Corp. reported a net loss for full year 2024 despite strategic balance sheet restructuring including sale-leaseback and securities transactions [N3][N4][N5].
• In the three months ended June 30, 2025, Bogota Financial reported a profit, with Q2 profit up as reported in August 2025 [N1][N2].
• As of June 30, 2026, the company reported net income of $747,522 and basic and diluted EPS of $0.06, with cash and cash equivalents of approximately $29.9 million [S2].