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Bogota Financial Corp. has adopted its fifth stock repurchase program and received regulatory approval to repurchase up to 237,090 shares of its common stock, representing approximately 5% of its outstanding common stock. The program allows for repurchases through various methods and has no set expiration date. The decision to repurchase shares will be based on multiple factors, including market conditions and the company's financial performance.
La Bogota Financial Corp. ha adottato il suo quinto programma di riacquisto di azioni e ha ricevuto l'approvazione regolatoria per riacquistare fino a 237.090 azioni del proprio capitale ordinario, rappresentando circa il 5% del suo capitale ordinario in circolazione. Il programma permette riacquisti attraverso vari metodi e non ha una data di scadenza prestabilita. La decisione di riacquistare azioni sarà basata su più fattori, inclusi le condizioni di mercato e la performance finanziaria della società.
Bogota Financial Corp. ha adoptado su quinto programa de recompra de acciones y ha recibido la aprobación regulatoria para recomprar hasta 237,090 acciones de su stock común, lo que representa aproximadamente el 5% de su stock común en circulación. El programa permite las recompras a través de varios métodos y no tiene una fecha de expiración establecida. La decisión de recomprar acciones se basará en múltiples factores, incluyendo las condiciones del mercado y el rendimiento financiero de la empresa.
보고타 파이낸셜 코프가 자사의 다섯 번째 주식 매입 프로그램을 채택하고 최대 237,090주의 보통주를 매입할 수 있는 규제 승인을 받았습니다. 이는 유통 중인 보통주의 약 5%에 해당합니다. 이 프로그램은 다양한 방법으로 매입을 허용하며, 정해진 만료 날짜가 없습니다. 주식 매입 결정은 시장 상황 및 회사의 재무 성과를 포함한 여러 요소를 기반으로 할 것입니다.
La Bogota Financial Corp. a adopté son cinquième programme de rachat d'actions et a reçu l'approbation réglementaire pour racheter jusqu'à 237 090 actions de son capital social, ce qui représente environ 5% de son capital social en circulation. Le programme permet des rachats par diverses méthodes et n'a pas de date d'expiration fixée. La décision de racheter des actions sera basée sur plusieurs facteurs, y compris les conditions du marché et la performance financière de l'entreprise.
Die Bogota Financial Corp. hat ihr fünftes Aktienrückkaufprogramm verabschiedet und die regulatorische Genehmigung erhalten, bis zu 237.090 Aktien ihres Stammaktien zu erwerben, was ungefähr 5% ihres ausstehenden Stammaktien entspricht. Das Programm ermöglicht Rückkäufe durch verschiedene Methoden und hat kein festgesetztes Ablaufdatum. Die Entscheidung zum Rückkauf von Aktien wird auf Basis mehrerer Faktoren getroffen, einschließlich der Marktsituation und der finanziellen Leistung des Unternehmens.
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TEANECK, N.J.--(BUSINESS WIRE)--
Bogota Financial Corp. (the “Company”) (Nasdaq: BSBK), the holding company for Bogota Savings Bank (the “Bank”), announced that it has received regulatory approval for the repurchase of up to 237,090 shares of its common stock, which is approximately 5% of its outstanding common stock (excluding shares held by Bogota Financial, MHC), as previously approved by the board of directors of the Company. This is the Company’s fifth stock repurchase program.
Shares may be repurchased in open market or private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.
The repurchase program has no expiration date and may be suspended, terminated or modified at any time for any reason. The stock repurchase program does not obligate the Company to purchase any particular number of shares, and there is no guarantee as to the exact number of shares to be repurchased by the Company. The timing and amount of any repurchases will depend on a number of factors, including the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance. Open market purchases will be made in accordance with Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.
About Bogota Financial Corp.
Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC. Bogota Savings Bank is a New Jersey chartered stock savings bank that has served the banking needs of its customers in northern and central New Jersey since 1893. It operates from seven offices located in Bogota, Hasbrouck Heights, Newark, Oak Ridge, Parsippany, Teaneck and Upper Saddle River, New Jersey and operates a loan production office in Spring Lake, New Jersey.
Forward-Looking Statements
This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, changes in the quality of our loan and security portfolios, increases in non-performing and classified loans, and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.
The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.
For Bogota Financial Corp.:
Kevin Pace
President and Chief Executive Officer
(201) 862-0660 ext. 1110
Source: Bogota Financial Corp.
FAQ
What is the ticker symbol for Bogota Financial Corp.?
The ticker symbol for Bogota Financial Corp. is BSBK.
How many shares of its common stock can Bogota Financial Corp. repurchase under the fifth program?
Bogota Financial Corp. can repurchase up to 237,090 shares of its common stock under the fifth program.
What factors will determine the timing and amount of share repurchases by Bogota Financial Corp.?
The timing and amount of share repurchases by Bogota Financial Corp. will depend on factors such as stock availability, market conditions, trading price of the stock, capital utilization, and the company's financial performance.
Can the stock repurchase program of Bogota Financial Corp. be suspended or terminated?
Yes, the stock repurchase program of Bogota Financial Corp. may be suspended, terminated, or modified at any time for any reason.
