Bogota Financial completes sale-leaseback of three branches for $9M gain and restructures securities for $8.9M loss

Bogota Financial Corp.

Sold three branch offices for $12.5M cash, resulting in $9.0M pre-tax gain; entered 15-year leaseback.
Sold $66M amortized cost securities ($57.1M market) with 1.89% yield, realizing $8.9M pre-tax loss.
Reinvested proceeds into securities yielding ~5.49% and will fund loans at 6.50-7.75% to improve NIM.
Removes held-to-maturity designation on remaining HTM securities.
CEO states repositioning strengthens balance sheet and adds shareholder value without hurting regulatory capital.

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