Bogota Financial Corp (BSBK)

History and Background

Bogota Financial Corp, operating as Bogota Savings Bank, was founded in 1893. It has evolved from a local savings institution to a community-focused bank providing a range of financial services in New Jersey.

Core Business Areas

• Retail Banking: Offers traditional banking services to individuals, including checking and savings accounts, mortgages, and personal loans.
• Commercial Banking: Provides banking solutions for businesses, such as commercial loans, lines of credit, and treasury management services.
• Wealth Management: Offers financial planning and investment services to individuals and families.

Leadership and Structure

The company is led by a board of directors and an executive management team responsible for strategic direction and operational oversight. The structure includes various departments such as lending, finance, and compliance.

Key Offerings

• Residential Mortgages: Offers various mortgage products. Market share is estimated around 0.5% within its regional market. Competitors include larger regional banks and national mortgage lenders. Revenue is around $5 million annually
• Commercial Loans: Provides loans to small and medium-sized businesses. Market share is estimated at around 0.3%. Competitors are other regional and community banks. Revenue is around $3 million annually
• Deposit Accounts: Checking, savings, and CD accounts. Market share is around 0.7% in the area. Competitors include national banks and online banking platforms.

Industry Overview

The banking industry is currently facing increased competition from fintech companies, rising interest rates, and regulatory changes.

Positioning

Bogota Financial Corp positions itself as a community bank with a focus on personalized service and local expertise. Its competitive advantage lies in its relationships with local customers.

Total Addressable Market (TAM)

The TAM for banking services in its operating region is estimated at $5 billion annually. Bogota Financial Corp's current market share places it as a smaller player with potential for growth.

Key Competitors

• NTRS
• TCBI
• BK

Competitive Landscape

Bogota Financial Corp faces competition from larger regional and national banks. Its advantage lies in its local focus and personalized service, but it lacks the scale and resources of its larger competitors.

Historical Growth: Growth has been slow and steady, primarily driven by organic growth in its core market.

Future Projections: Analysts project moderate growth in the coming years, driven by increased lending and deposit growth.

Recent Initiatives: Recent initiatives include expanding its online banking platform and increasing its marketing efforts to attract new customers.

Bogota Financial Corp is a stable community bank with a strong local presence. Its strengths include strong customer relationships and conservative lending practices. However, it faces challenges from larger competitors and a limited geographic reach and is rated around average in stability.

Data Sources:

• Company website
• Analyst reports
• Industry publications
• SEC Filings

Disclaimers:

The data provided is for informational purposes only and should not be considered financial advice. Market share and TAM figures are estimates. Financial metrics are not factual.