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Stock impact report

Bogota Financial Corp. Reports Results for the Fourth Quarter and Twelve Months Ended December 31, 2019

Bogota Financial Corp. (BSBK) 
Company Research Source: Business Wire
TEANECK, N.J.--(BUSINESS WIRE)--Bogota Financial Corp. (the “Company”) (NASDAQ: BSBK), the holding company for Bogota Savings Bank (the “Bank”), reported net income for the three and twelve months ended December 31, 2019. Net income for the three months ended December 31, 2019 was $787,000, $62,000 or 7.3%, less than the comparable prior year period. Net Income for the twelve months ended December 31, 2019 was $2.4 million, $1.7 million, or 41.3%, less than the previous year.On January 15, 2020, the Company became the holding company for the Bank when it closed its stock offering in connection with the completion of the reorganization of the Bank into a two-tier mutual holding company form of organization. The Company sold 5,657,735 shares of common stock at a price of $10 per share, for gross proceeds of $56.6 million, and issued 7,236,640 shares to Bogota Financial, MHC, its mutual holding company parent.Other Financial Highlights: Total assets grew $101.6 million, or 15.3%, to Show less Read more
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