Bogota Financial Corp. is a bank holding company of Bogota Savings Bank (the Bank). The Bank generally originates residential, commercial and consumer loans to, and accepts deposits from, customers in New Jersey. It attracts deposits from the general public and municipalities and use those funds along with advances from the Federal Home Loan Bank of New York and funds generated from operations to originate one- to four-family residential real estate loans and commercial real estate and multi-family loans and, to a lesser extent, consumer loans, commercial and industrial loans and construction loans. It offers a variety of deposit accounts, including demand accounts, savings accounts, money market accounts and certificates of deposit accounts. It operates over six offices located in Bogota, Hasbrouck Heights, Newark, Oak Ridge, Parsippany and Teaneck, New Jersey and a loan production office in Spring Lake, New Jersey. It offers consumer loans to customers residing in its market area.
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