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TEANECK, NJ – Bogota Financial Corp . (NASDAQ:BSBK), a $100 million market cap financial institution, announced the appointment of Peter T. Donnelly to its board of directors, slated to take effect on March 26, 2025. In addition to his director role, Mr. Donnelly will contribute to the company’s Audit Committee and IT Committee.
The announcement, made in a recent SEC filing, clarifies that Mr. Donnelly’s appointment arose from direct company decision without any external arrangements or understandings influencing the choice. Furthermore, Bogota Financial confirmed that Mr. Donnelly has no involvement in any transactions that would necessitate disclosure under SEC Regulation S-K Item 404(a).
Bogota Financial, a Maryland-chartered savings institution not federally chartered, operates primarily from its headquarters at 819 Teaneck Road, Teaneck, New Jersey. Trading at $7.88, the stock has gained nearly 12% over the past six months, though InvestingPro analysis suggests the shares are currently trading above their Fair Value. The company’s common stock is traded on The Nasdaq Stock Market under the symbol BSBK.
This executive move comes as part of the company’s ongoing governance and oversight strengthening, ensuring the board’s composition aligns with the organization’s strategic direction and regulatory requirements. According to InvestingPro metrics, which include over 30 key financial indicators, the company currently shows a Weak overall financial health score, making strong governance particularly crucial. Mr. Donnelly’s experience and anticipated contributions to the Audit and IT Committees are expected to bolster the company’s oversight in these critical areas.
The information provided is based on a press release statement filed with the SEC.
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