New York, May 20, 2026, 12:02 EDT
Bogota Financial Corp. ticked up to $8.40 in light action on the Nasdaq Wednesday. Not much movement, but filings highlighting deposit outflows and more wholesale funding kept the spotlight on the New Jersey lender’s balance sheet. The market saw just 853 shares trade, leaving its value near $105.9 million.
Trading happened during the standard U.S. equity session. Nasdaq’s main market runs from 9:30 a.m. to 4 p.m. Eastern. Memorial Day on May 25 will be the next scheduled U.S. equity market holiday.
Bank shares didn’t move much, but the focus is still on the balance sheet. Small bank investors are tracking deposit costs, loan demand, and credit quality as the market moves with Treasury yields, Fed talk, and tech stocks’ jump. Reuters said Wednesday that Wall Street rose as chip stocks gained ahead of Nvidia’s earnings, and the 10-year Treasury yield dropped to 4.651%.
Bogota Financial said first-quarter net income dropped to $706,000, or 6 cents a share, compared with $731,000, also 6 cents a share, a year ago. Net interest income was up, hitting $4.4 million from $3.6 million.
Funding is the big question. Total deposits dropped 7.9% to $600.9 million as of March 31, down from $652.4 million at the end of the year, mostly because certificates of deposit fell off. At the same time, Federal Home Loan Bank advances—wholesale borrowings banks use to fill funding gaps—jumped 24.2% to $115.9 million.
Bogota’s net interest margin improved to 2.20% in the quarter from 1.66% a year ago, Chief Executive Kevin Pace said in the company’s earnings release. Pace added that credit quality is “stable and within our expectations.” He said the bank “continue[s] to make strides” on net interest margin.
Bogota’s share buyback is moving ahead. The bank said it repurchased 14,313 shares for $119,000 by March 31. The current program allows buybacks up to 237,590 shares. There’s no set end date for the plan.
Larger New Jersey-linked banks saw more action. Kearny Financial moved up to $8.205, with 126,975 shares traded. Provident Financial Services changed hands at $22.31, volume at 233,927 shares. ConnectOne Bancorp traded at $29.89, with 44,563 shares crossing. The difference points out how thin BSBK’s trading usually is.
Bogota said in a filing shareholders voted to keep Peter T. Donnelly and John Masterson on the board at the annual meeting May 14. Investors also approved the executive compensation proposal and signaled support for holding say-on-pay votes every three years. The board hasn’t posted its final call on the vote frequency yet and will update that in a later amendment.
Funding could get tougher for Bogota if deposits keep falling. The bank might need to use more expensive borrowing. Delinquent commercial real estate loans led to a $50,000 credit-loss provision last quarter. On March 31, non-performing assets were $13.5 million, about 1.54% of total assets.
The stock isn’t showing much direction so far. Shares are trading in small lots and moving just a few cents as the bank looks to prove that stronger margins might make up for its leaner balance sheet and tighter competition for deposits.
