Cook bacon in a pot over medium heat until almost crisp, 3 to 5 minutes. Add onion and green pepper to bacon; cook and stir until onion is translucent, about 5 minutes. Mix in cilantro, garlic, and bay leaf; cook and stir until flavors combine, 1 to 2 minutes.

Stir beans, chicken broth, vinegar, salt, pepper, and hot sauce into the onion mixture; cover and let simmer until the flavors combine, 10 to 15 minutes. Add more chicken broth if you would like the beans to be more soupy.