What Bogota Savings Bank does

Bogota Savings Bank, operating through its publicly traded holding company Bogota Financial Corp. (Nasdaq: BSBK), is a community bank headquartered in Teaneck, New Jersey, founded in 1893. It serves individual consumers and small-to-mid-size businesses across Bergen County and northern New Jersey through seven branches (with an eighth planned in Point Pleasant), offering a full suite of consumer and commercial banking products. Core deposit products include multiple checking tiers (including High-Yield Checking at 4.00% APY and Prestige/E-Prestige Checking at 3.00% APY), savings accounts, money market accounts, certificates of deposit, and IRAs; lending products span residential mortgages, HELOCs, fixed-rate home equity loans, commercial mortgages, multi-family mortgages, account loans, and real estate secured small business credit lines. Personal and business credit cards are issued through Elan Financial Services on the Visa and Mastercard networks, and merchant services are delivered via On The Mark Payments.

Revenue is generated primarily through net interest income on the lending book funded by deposits, supplemented by non-interest income from account service fees, ATM fees, merchant services residuals, and credit card program economics. The bank's technology stack is a traditional community banking platform with digital channels: a mobile banking app for iOS and Android with mobile check deposit, bill pay, and Zelle; online banking with Quicken, QuickBooks, and Microsoft Money export; text banking on shortcode 96865; and surcharge-free ATM access at 55,000+ Allpoint Network locations. Distribution is omnichannel across branches, direct lending officers, online account opening, and educational content (Financial Tip Friday and Security Tip Tuesday), with relationship-based local decision-making positioned as the principal differentiator versus larger national banks. Strategic posture is consolidation-oriented: a 2021 merger with Gibraltar Bank and the announced 2026 all-stock merger with GSL Savings Bank (expected to close H2 2026, lifting assets from approximately $877 million to approximately $1.0 billion) reflect a roll-up approach to scaling community banking in northern New Jersey.

Name

Bogota Savings Bank

Legal name

Bogota Financial Corp.

Website

https://bogotasavingsbank.com

Company type

Public

Founded year

1893

Operating status

Operating

Headcount range

51–100 employees

Short description

Bogota Savings Bank is a 130+ year-old community bank headquartered in Teaneck, New Jersey, serving individual consumers and small-to-mid-size businesses across northern New Jersey with seven branches, offering deposit products, consumer and commercial mortgages, HELOCs, credit cards, and merchant services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Consumer deposit accounts
• Residential mortgage lending
• Commercial real estate loans
• Small business banking

Headquarters

HQ city

Teaneck

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Primary revenue source from spread between interest earned on loans (mortgages, commercial, consumer) and interest paid on deposits. Traditional banking revenue model generating income from lending activities.
2. Non-Interest Income: Fee income from service charges, ATM fees, overdraft fees, wire transfer fees, merchant services, and other banking service charges. Also includes credit card income through Elan Financial partnership.
3. Fee-Based Services: Revenue from account service fees (NJ Consumer Checking $3/month, various checking account fees), safe deposit boxes, wire transfers, and official check fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Bogota Savings Bank is a community bank headquartered in Teaneck, New Jersey, that provides traditional retail and commercial banking products including checking accounts, savings accounts, certificates of deposit, IRAs, money market accounts, residential and commercial mortgages, home equity loans, business credit lines, and credit cards. The bank serves individual consumers and small-to-mid-size businesses through 7+ branch locations across Bergen County and northern New Jersey, complemented by online and mobile banking channels.

Product overview

Bogota Savings Bank is a community-focused regional bank headquartered in Teaneck, New Jersey, offering a unified portfolio of consumer and commercial banking products. Its core consumer offering spans checking accounts (High-Yield Checking at 4.00% APY, Prestige/E-Prestige, Blue Ribbon, Heritage Senior, Totally-Free, Basic, and NJ Consumer Checking), savings accounts (Statement Savings, Passbook, Super Passbook, Super Kids Club, Winter & Summer Club), Certificates of Deposit (3-month to 5-year terms, online and in-branch), and IRAs (Traditional, Roth, Statement Savings IRA, CD IRA, Educational Savings Account). The bank also offers Money Market accounts (personal and Anniversary variants) and Business Checking and Business Money Market accounts. Lending products include Residential Mortgages (fixed-rate, adjustable, jumbo, first-time buyer, and construction loans), Home Equity Lines of Credit, Fixed-Rate Home Equity Loans, Commercial Mortgages, Multi-Family Mortgages, Account Loans (secured by existing bank deposits), and Real Estate Secured Small Business Credit Lines. Credit products include personal and business credit cards issued via Elan Financial Services on Visa and Mastercard networks. The bank provides Merchant Services through a partnership with On The Mark Payments. Digital banking is delivered through Online Banking, Mobile Banking (iOS/Android), Mobile Check Deposit, Text Banking, and Zelle person-to-person payments, alongside online account opening and a suite of financial calculators. The bank operates 7+ branch locations in New Jersey and is the holding company for Bogota Financial Corp. (Nasdaq: BSBK).

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts
• Personal Savings Accounts Tiered and specialty savings accounts for individual consumers, including children's savings, seasonal club accounts, and traditional passbook savings, accessible online or in-branch.
• Money Market Accounts Hybrid checking/savings accounts offering tiered interest rates based on balance for individual consumers, including a specialty 130th anniversary commemorative product.
• Certificates of Deposit (CDs) Fixed-term deposit accounts for individual consumers offering guaranteed interest rates for terms ranging from 3 to 60 months, with early withdrawal penalties.
• Retirement Accounts (IRAs) Tax-advantaged retirement savings products for individual consumers, including Traditional and Roth IRAs, IRA savings and CD variants, and education savings accounts.
• Business Checking Business checking account with no minimum balance and no monthly service charge, designed for small-to-mid-size businesses including unlimited check writing and electronic check deposit capability.
• Business Money Market Account
• Residential Mortgage Home mortgage products for individual consumers including fixed-rate, adjustable-rate, jumbo, first-time home buyer, refinance, and construction loans with local underwriting.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by residential home equity with variable rates tied to NY Prime, structured as 15-year draw followed by 15-year repayment, for individual consumers.
• Fixed-Rate Home Equity Loan Fixed-rate home equity loan offering predictable monthly payments for individual consumers leveraging home equity for first and second liens on owner-occupied 1-4 family properties.
• Commercial Mortgage Commercial real estate financing for office, industrial, retail, multi-family, and owner-occupied properties, with local decision-making for businesses in northern New Jersey.
• Multi-Family Mortgage Mortgage financing for multi-family and apartment residential dwellings throughout New Jersey, with locally-decided underwriting and end-to-end borrower support.
• Account Loans Secured consumer loans allowing borrowing against existing Bogota Savings Bank savings or CD balances, for up to 95% of available balance, without penalty.
• Real Estate Secured Small Business Credit Lines Revolving business lines of credit secured by commercial real estate, personal residence, or investment property for small businesses, with a $500 non-refundable processing fee.
• Personal Credit Cards Personal Visa and Mastercard credit cards issued via Elan Financial Services, offering zero fraud liability, mobile purchasing capability, and 24/7 cardmember service.
• Business Credit Cards Business Visa and Mastercard credit cards issued via Elan Financial Services, offering low-rate, cash-back, or rewards options with free online expense reporting.
• Merchant Services Credit and debit card payment processing for commercial customers, delivered via partnership with On The Mark Payments, supporting POS terminals, online, and mobile applications.
• Online Banking Web-based digital banking platform for individual consumers and businesses, providing account management, bill pay, e-Statements, Zelle, and Quicken/QuickBooks/Microsoft Money transaction exports.
• Mobile Banking App Native mobile banking application for iOS and Android devices, providing remote check deposit, transfers, bill pay, Zelle person-to-person payments, and account alerts.

Quantifiable outcome

• Asset growth from $877 million to $1 billion through GSL merger
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• GSL Savings BankflagshipStrategic or Co-development Partner · 3 June 2026Merger agreement where GSL Savings Bank will merge into Bogota Savings Bank. GSL President and CEO Frank Giancola becomes EVP and COO of Bogota. All-stock transaction expected to close H2 2026, pending regulatory approvals. Combined entity will have approximately $1 billion in assets.
• On The Mark PaymentscoreChannel Partner/ Reseller/ DistributorMerchant services partnership providing credit and debit card processing for commercial customers. On The Mark Payments is described as a merchant services industry leader providing state-of-the-art payment processing through traditional POS terminals, online, and mobile applications. Services include next-day funding, preferred rates, and 24/7 customer support. Contact: (732) 230-7700.
• Elan Financial ServicescoreTechnology or IntegrationCredit card issuing partnership where Elan Financial Services provides credit card products (Visa and Mastercard) and backend processing including zero fraud liability protection and 24/7 cardmember service. Bogota Savings Bank offers these cards to personal and business customers.
• Allpoint Network (Cardtronics)coreTechnology or IntegrationATM network partnership providing surcharge-free ATM access at 55,000+ locations worldwide, including 43,000 in the US and 12,000 internationally (Canada, Mexico, Puerto Rico, UK, Australia). ATMs located in major retail outlets including discount retailers, convenience, grocery, and pharmacy stores.
• Continental Stock Transfer & Trust CompanyOthersTransfer agent for Bogota Financial Corp. stock (NASDAQ: BSBK). Located at 1 State Street, 30th Floor, New York, NY 10004. Phone: 1-800-509-5586.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Two River Bancorp: Two River Bancorp is the holding company for Two River Community Bank, a central/northern New Jersey community bank offering consumer deposits, residential mortgages, and commercial lending. It is a close comparable in scale and product mix to Bogota Savings Bank.
• ConnectOne Bancorp: ConnectOne Bank is a northern New Jersey community commercial bank offering consumer and business banking. It is explicitly referenced as a prior employer of Bogota's Business Development Officer, indicating direct competition for the same commercial lending talent and customer relationships in the Bergen County market.
• BCB Bancorp: BCB Bancorp is the holding company for BCB Community Bank, a New Jersey-based community bank with comparable deposit products, residential and commercial lending, and a multi-branch northern New Jersey footprint serving similar consumer and small business segments.
• Columbia Financial: Columbia Financial is the holding company for Columbia Bank, a New Jersey-focused community bank offering consumer deposits, residential and commercial lending, and wealth services. It operates in overlapping New Jersey markets with comparable product offerings to Bogota.
• OceanFirst Financial: OceanFirst Financial is the holding company for OceanFirst Bank, a New Jersey-based community bank with a comparable deposit and lending product suite. It competes for similar consumer and small business customers across New Jersey markets.
• Kearny Financial Corp. Kearny Financial is the holding company for Kearny Bank, a New Jersey-chartered savings bank with a comparable multi-branch footprint, deposit-focused business model, and residential/commercial real estate lending orientation — directly overlapping Bogota's core offerings.
• Lakeland Bancorp: Lakeland Bancorp is the holding company for Lakeland Bank, a New Jersey community bank with a similar consumer and commercial banking model, multi-branch distribution, and comparable residential mortgage and CRE lending focus.
• Provident Financial Services: Provident Financial Services is the holding company for Provident Bank, a New Jersey community bank offering consumer and commercial banking products including deposits, mortgages, and business lending. It is a comparable community-bank model operating in many of the same northern New Jersey submarkets.
• Northfield Bancorp: Northfield Bancorp is the holding company for Northfield Bank, a New Jersey-based community bank with similar deposit-gathering, residential lending, and commercial real estate focus. Both serve northern New Jersey consumer and small business customers with community-bank positioning.

Broad incumbents

• Valley National Bancorp: Valley National Bancorp is a much larger New Jersey-headquartered regional bank offering consumer and commercial banking across a broader footprint. It serves as a broader incumbent competitor against which Bogota's community-bank positioning and local lending differentiation must compete.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/BogotaSavingsBank/feed
• Facebookfacebook.com/bogotasavingsbank
• LinkedInlinkedin.com/company/bogota-savings-bank
• Instagraminstagram.com/bogotasavingsbank/#
• Xx.com/bogotasb

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bogota Savings Bank