Bogota Financial Corp.

Bogota Financial Corp. is a Maryland corporation formed in September 2019 as the bank holding company for Bogota Savings Bank. Its primary activities are holding the common stock of Bogota Savings Bank and making a loan to the employee stock ownership plan of Bogota Savings Bank. The company does not engage in other business activities. Bogota Financial Corp. completed its stock offering on January 15, 2020, selling 5,657,735 shares of common stock at $10.00 per share, generating gross proceeds of $56.6 million. As part of the reorganization, it also issued 263,150 shares of common stock and $250,000 in cash to Bogota Savings Bank Charitable Foundation, Inc., and 7,236,640 shares of common stock to Bogota Financial, MHC, its New Jersey-chartered mutual holding company. Bogota Financial Corp. does not own or lease property and its officers are also officers of Bogota Savings Bank, utilizing Bogota Savings Bank's support staff as needed. Bogota Financial Corp. is regulated and examined by the New Jersey Department of Banking and Insurance and the Federal Reserve Board. Bogota Financial, MHC, formed in January 2020, is a New Jersey-chartered mutual holding company that will own a majority of Bogota Financial Corp.'s common stock.