Bogota Financial Corp. (“Bogota Financial”) (Nasdaq: BSBK), the holding company for Bogota Savings Bank (“Bogota”), and Gibraltar Bank (“Gibraltar”) today announced the execution of a merger agreement pursuant to which Gibraltar will merge with and into Bogota. The merger is expected to increase Bogota Financial’s consolidated assets from approximately $738.7 million at June 30, 2020 to approximately $846.0 million, and more than double its branch network.
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