New York, May 20, 2026, 12:02 EDT
Bogota Financial Corp. shares edged up to $8.40 in thin Nasdaq trading on Wednesday, a small move that still put focus back on the New Jersey community bank’s funding base after recent filings showed deposit runoff and higher wholesale borrowing. The latest available market data showed volume of just 853 shares, with a market value of about $105.9 million.
The move came during a regular U.S. equity session, with Nasdaq’s main market open from 9:30 a.m. to 4 p.m. Eastern time. The next listed U.S. equity market holiday is Memorial Day on May 25.
Why it matters now is not the size of the share move. It is the rate-sensitive balance sheet behind it. Investors in small banks are still watching deposit costs, loan demand and credit quality as broader markets trade around Treasury yields, Fed policy signals and a rebound in technology shares. Reuters reported Wednesday that Wall Street rose as chip stocks firmed before Nvidia’s results, while the 10-year Treasury yield eased to 4.651%.
Bogota Financial, the holding company for Bogota Savings Bank, reported earlier this month that first-quarter net income fell to $706,000, or 6 cents a share, from $731,000, also 6 cents a share, a year earlier. Net interest income, the money a bank earns from loans and securities after paying funding costs, rose to $4.4 million from $3.6 million.
The core question is funding. Total deposits fell 7.9% to $600.9 million at March 31 from $652.4 million at year-end, driven mainly by a drop in certificates of deposit. Federal Home Loan Bank advances, wholesale borrowings often used by banks to plug funding needs, rose 24.2% to $115.9 million.
Chief Executive Kevin Pace said in the company’s earnings release that Bogota “continue[s] to make strides” on net interest margin, and described credit quality as “stable and within our expectations.” Net interest margin, the spread between what a bank earns on assets and what it pays for funds, rose to 2.20% from 1.66% a year earlier.
The share count is also part of the story. Bogota said it had repurchased 14,313 shares under its current buyback program at a cost of $119,000 as of March 31, with authority to buy back up to 237,590 shares and no scheduled end date.
Competitive trading was livelier at larger New Jersey-linked bank peers. Kearny Financial rose to $8.205 on volume of 126,975 shares, Provident Financial Services traded at $22.31 on volume of 233,927 shares, and ConnectOne Bancorp changed hands at $29.89 on volume of 44,563 shares. That gap underlined how little stock can change hands in BSBK on a normal session.
Bogota’s latest governance filing showed shareholders re-elected Peter T. Donnelly and John Masterson as directors at the May 14 annual meeting. Investors also backed the company’s executive-pay vote and favored holding future say-on-pay votes every three years, though the board still has to disclose its decision in a later amendment.
The risk is that the funding story turns less benign. More deposit runoff could force Bogota to lean further on higher-cost borrowings, while delinquent commercial real estate loans already drove a $50,000 credit-loss provision in the first quarter. Non-performing assets, meaning loans or assets not producing expected payments, stood at $13.5 million, or 1.54% of total assets, at March 31.
For now, the stock is not giving a loud signal. It is moving a few cents, in a few hundred shares, while the bank tries to show that better margins can offset a smaller balance sheet and tougher deposit competition.
