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Bogota Financial Corp. Reports Results for the Three Months Ended March 31, 2021

By   /  May 4, 2021  /  Comments Off on Bogota Financial Corp. Reports Results for the Three Months Ended March 31, 2021

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TEANECK, N.J.–()–Bogota Financial Corp. (the “Company”) (NASDAQ: BSBK), the holding company for Bogota Savings Bank (the “Bank”), reported net income for the three months ended March 31, 2021 of $3.0 million, compared to net loss of $1.3 million for the comparable prior year period. The Company recorded a bargain purchase gain of $1.9 million associated with the acquisition of Gibraltar Bank during the most recent quarter. Also, during the three months ended March 31, 2021, the Company had merger-related expenses of $318,000. The Company contributed cash and stock with a value of $2.9 million ($2.1 million after-tax) to the Bogota Charitable Foundation during the three months ended March 31, 2020….



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