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Bogota Financial, GSL Savings Bank Sign Merger Deal

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Bogota Financial (BSBK) has agreed to merge GSL Savings Bank into Bogota Savings Bank, creating a combined institution with approximately $1 billion in assets, the companies said Monday.

Under the agreement, GSL Chief Executive Frank Giancola will become chief operating officer of Bogota Savings Bank, the companies said.

As part of the deal, Bogota Financial will issue common shares to Bogota Financial MHC in an amount equal to GSL's fair value as determined by an independent appraisal, the companies said, adding that the shares are expected to be issued before the completion of the merger.

The companies said the transaction is expected to close in the second half of 2026.

Price: $8.41, Change: $+0.01, Percent Change: +0.12%

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