Core Viewpoint - BCB Bancorp, Inc. reported a net loss of $8.3 million for Q1 2025, a significant decline from net income of $5.9 million in Q1 2024, primarily due to increased provisions for loan losses and specific reserves related to a cannabis sector loan [1][13][18]. Financial Performance - The net loss per diluted share for Q1 2025 was ($0.51), compared to earnings of $0.32 in Q1 2024 [1][32]. - Net interest income decreased by $1.1 million, or 4.9%, to $22.0 million in Q1 2025 from $23.1 million in Q1 2024 [13][15]. - The provision for credit losses was $20.8 million in Q1 2025, a substantial increase from $2.1 million in Q1 2024 [18][19]. Balance Sheet Overview - Total assets decreased by $125.3 million, or 3.5%, to $3.474 billion as of March 31, 2025, from $3.599 billion at the end of 2024 [5][12]. - Total deposits were $2.687 billion at March 31, 2025, down from $2.751 billion at December 31, 2024, representing a decrease of 2.3% [6][10]. - Total loans receivable, net of allowance for credit losses, decreased by 2.6% to $2.918 billion as of March 31, 2025 [8][12]. Asset Quality - Non-accrual loans totaled $99.8 million, or 3.36% of gross loans, at March 31, 2025, compared to $22.2 million, or 0.68%, at March 31, 2024 [17][23]. - The allowance for credit losses was $51.5 million, or 1.73% of gross loans, as of March 31, 2025, up from $34.6 million, or 1.06%, at the same time last year [18][23]. Dividend Declaration - The Board of Directors declared a regular quarterly cash dividend of $0.16 per share, payable on May 21, 2025, to shareholders of record on May 7, 2025 [2].

Financial Position - Total assets decreased by $233.3 million, or 6.1 percent, to $3.599 billion at December 31, 2024, from $3.832 billion at December 31, 2023[237]. - Total cash and cash equivalents increased by $37.8 million, or 13.5 percent, to $317.3 million at December 31, 2024, from $279.5 million at December 31, 2023[238]. - Loans receivable, net, decreased by $283.4 million, or 8.6 percent, to $2.996 billion at December 31, 2024, from $3.280 billion at December 31, 2023[239]. - Total investment securities increased by $14.3 million, or 14.8 percent, to $111.2 million at December 31, 2024, from $96.9 million at December 31, 2023[240]. - Deposits decreased by $228.2 million, or 7.7 percent, to $2.751 billion at December 31, 2024, from $2.979 billion at December 31, 2023[241]. - Stockholders' equity increased by $9.9 million, or 3.1 percent, to $323.9 million at December 31, 2024, from $314.1 million at December 31, 2023[243]. - The Company had total outstanding borrowings of $498.3 million at December 31, 2024, compared to $510.4 million at December 31, 2023[264]. - Total liabilities decreased to $3,275,193,000 in 2024 from $3,518,342,000 in 2023, a decline of approximately 6.9%[298]. - The total stockholders' equity at the end of 2024 was $323,925,000, an increase from $314,055,000 in 2023[304]. Income and Expenses - Net income decreased by $10.9 million, or 36.8 percent, to $18.6 million for the twelve months of 2024 from $29.5 million for 2023[252]. - Net interest income for the year ended December 31, 2024, was $92.021 million, compared to $104.062 million for the year ended December 31, 2023[247]. - Non-interest income decreased by $1.1 million to $2.9 million for 2024, primarily due to losses on sales of loans[258]. - Non-interest expense decreased by $3.5 million, or 5.7 percent, to $57.1 million for 2024, driven by reductions in salaries and employee benefits[259]. - The income tax provision decreased by $4.3 million, or 36.6 percent, to $7.6 million for 2024 due to reduced taxable income[260]. - Net interest income after provision for credit losses was $80,451,917 for 2024, down from $95,581,117 in 2023, indicating a decrease of 15.8%[300]. - Total non-interest income for the year was $2,940,404, compared to $881,595 in 2023, representing a significant increase of 233.5%[300]. - Non-interest expense for the year was $101,988,884, compared to $29,817,496 in 2023, reflecting an increase of 241.5%[300]. Credit Losses and Provisions - The allowance for credit losses on loans increased by $1.2 million to $34.8 million, or 1.15 percent of gross loans, at December 31, 2024[239]. - The provision for credit losses was $11.6 million for 2024, compared to $6.1 million for 2023, with net charge-offs increasing to $10.4 million[257]. - The allowance for credit losses increased to $34,789,000 in 2024 from $33,608,000 in 2023, indicating a rise of about 3.5%[298]. - The charge-offs for the year ended December 31, 2024, totaled $10,835,000, compared to $805,000 in the previous year[381]. - The provision for credit losses for the year ended December 31, 2024, was $11,570,000, reflecting a significant increase from the previous year's provision of $6,104,000[382]. Interest Income and Expenses - Net interest margin decreased to 2.55 percent for the year ended December 31, 2024, from 2.85 percent for the year ended December 31, 2023[247]. - Interest income increased by $5.6 million, or 3.0 percent, to $194.0 million for 2024, driven by a 22 basis points increase in yield on interest-earning assets[254]. - Interest expense increased by $17.7 million, or 21.0 percent, to $102.0 million for 2024, primarily due to a 64 basis points increase in the average rate on interest-bearing liabilities[255]. Capital and Ratios - The Company’s Tier 2 capital credit related to the Old Notes started to amortize as of August 1, 2023[419]. - The Bank's Community Bank Leverage Ratio was 10.03% as of December 31, 2024, exceeding the minimum requirement of 9%[428]. - Total Capital to Risk-Weighted Assets ratio for the Company was 12.89% as of December 31, 2024, above the required 10%[430]. - The Tier 1 Capital to Risk-Weighted Assets ratio was 10.52% as of December 31, 2024, exceeding the minimum requirement of 6%[430]. - The Bank was categorized as "well-capitalized" under the regulatory framework for prompt corrective action as of December 31, 2024[431]. Loans and Lending Activity - The Bank's lending activity is primarily concentrated in loans collateralized by real estate in New Jersey and the New York metropolitan area, exposing it to credit risk related to the real estate market[323]. - Total loans as of December 31, 2024, amounted to $3,033,784,000, a decrease from $3,317,402,000 in 2023, representing a decline of approximately 8.5%[406]. - The total loans receivable as of December 31, 2024, was $3.03 billion, with $76.7 million past due[394]. - The total amount of certificates of deposit as of December 31, 2024, was $1,029,245,000, down from $1,222,697,000 in 2023, showing a decrease of approximately 15.8%[414]. - The total home equity loans as of December 31, 2024, were $66,769,000, compared to $66,331,000 in 2023, showing a slight increase[406]. Future Outlook and Strategic Plans - Future outlook includes plans for market expansion and new product development to enhance revenue streams[300]. Accounting and Reporting - The internal control over financial reporting was found to be effective as of December 31, 2024, based on PCAOB standards[292]. - The Company changed its accounting method for credit losses as of January 1, 2023, adopting ASC 326[278]. - The Company adopted ASU 2016-13 on January 1, 2023, resulting in a $4.2 million decrease in allowance for credit losses on loans and a total cumulative effect adjustment of $2.9 million[355]. - The Company is currently evaluating the impact of new accounting standards updates on its disclosures, including ASU 2023-09 and ASU 2023-07[352][353].

Group 1 - BCB Bancorp, Inc. (BCBP) is experiencing significant activity in the options market, particularly with the Apr 4, 2025 $7.50 Call showing high implied volatility, indicating potential for a major price movement [1] - Implied volatility reflects market expectations for future stock movement, suggesting that investors anticipate a significant event that could lead to a rally or sell-off [2] - BCB Bancorp currently holds a Zacks Rank 5 (Strong Sell) in the Banks - Northeast industry, with no analysts increasing earnings estimates for the current quarter and one analyst revising estimates downward, resulting in a consensus estimate drop from 32 cents to 26 cents per share [3] Group 2 - The high implied volatility for BCB Bancorp may indicate a developing trading opportunity, as options traders often seek to sell premium on such options to capture decay, hoping the stock does not move as much as expected by expiration [4]

Financial Performance - Net income for Q4 2024 was $3.3 million, down from $6.1 million in Q4 2023, with earnings per diluted share at $0.16 compared to $0.35 in the prior year[2][13] - Net income for the fourth quarter of 2024 was $3.272 million, a decrease of 50.9% from $6.668 million in the previous quarter and a decrease of 46.0% from $6.062 million in the same quarter of 2023[40] - Net income decreased by 36.8% to $18,623,000 from $29,483,000 year-over-year[41] - Net income available to common stockholders fell by 41.7% to $16,791,000 from $28,781,000 year-over-year[41] - Basic net income per common share for the fourth quarter of 2024 was $0.16, a decrease of 54.9% from $0.36 in the previous quarter and a decrease of 52.9% from $0.35 in the same quarter of 2023[40] Loan and Credit Quality - The provision for credit losses was $4.2 million in Q4 2024, up from $1.9 million in Q4 2023, reflecting increased credit quality concerns[5][18] - The provision for credit losses increased by 43.7% to $4.154 million in the fourth quarter of 2024 compared to $2.890 million in the previous quarter, and increased by 115.6% from $1.927 million in the same quarter of 2023[40] - The Bank had non-accrual loans totaling $44.7 million, or 1.48% of gross loans, at December 31, 2024, compared to $18.8 million, or 0.57% of gross loans, at December 31, 2023[32] - The allowance for credit losses on loans was $34.8 million, or 1.15% of gross loans, at December 31, 2024, compared to $33.6 million, or 1.01% of gross loans, at December 31, 2023[32] - Total loans receivable decreased by $283.4 million, or 8.6%, to $2.996 billion at December 31, 2024, primarily due to loan sales and payoffs exceeding originations[6][8] Income and Expenses - Net interest income decreased by $1.7 million, or 7.2%, to $22.2 million for Q4 2024, driven by lower interest income[14][15] - Non-interest income fell to $938 thousand in Q4 2024, down from $3.2 million in Q4 2023, largely due to losses on equity investments[19] - Total non-interest expense for the fourth quarter of 2024 was $14.367 million, an increase of 3.1% from $13.929 million in the previous quarter, but a decrease of 13.3% from $16.568 million in the same quarter of 2023[40] - Non-interest income for the fourth quarter of 2024 was $938 thousand, a decrease of 70.0% from $3.127 million in the previous quarter and a decrease of 70.9% from $3.228 million in the same quarter of 2023[40] Assets and Deposits - Total deposits increased to $2.751 billion at December 31, 2024, from $2.725 billion at September 30, 2024, but decreased by $228.2 million, or 7.7%, from $2.979 billion at December 31, 2023[5][10] - Total deposits increased by 1.0% to $2,750,858,000 compared to $2,724,580,000 in the previous quarter[42] - Total assets decreased to $3,599,118 thousand in Q4 2024 from $3,613,770 thousand in Q3 2024, a decline of 0.4%[47] - The company reported total assets of $3,626,651 thousand for Q4 2024, down from $3,853,457 thousand in Q4 2023[43] Efficiency and Ratios - The efficiency ratio for Q4 2024 was 62.1%, compared to 53.2% in the prior quarter, indicating increased operational costs relative to income[5] - The annualized return on average assets ratio for Q4 2024 was 0.36%, down from 0.63% in Q4 2023, indicating reduced profitability[5] - Return on average assets decreased to 0.36% in Q4 2024 from 0.72% in Q3 2024[50] - Efficiency ratio increased to 62.11% in Q4 2024 from 53.22% in Q3 2024, indicating a decrease in operational efficiency[50] Investment and Equity - Stockholders' equity increased by $9.9 million, or 3.1%, to $323.9 million at December 31, 2024, primarily due to retained earnings growth[12] - The company’s stockholders' equity increased to $320,124 thousand in 2024 from $299,618 thousand in 2023[45] - Total investment securities rose by $14.3 million, or 14.8%, to $111.2 million at December 31, 2024, as excess liquidity was allocated to the securities portfolio[9]

Core Viewpoint - BCB Bancorp reported a significant decline in revenue and earnings per share (EPS) for the quarter ended December 2024, indicating potential challenges in its financial performance [1]. Financial Performance - Revenue for the quarter was $23.13 million, down 14.8% year-over-year, and below the Zacks Consensus Estimate of $25.06 million by 7.68% [1]. - EPS for the quarter was $0.16, a decrease from $0.35 a year ago, representing a surprise of -44.83% compared to the consensus estimate of $0.29 [1]. Key Metrics - Net Interest Margin was reported at 2.5%, slightly below the estimated 2.6% [4]. - The Efficiency Ratio was 62.1%, higher than the average estimate of 56.9% [4]. - Total Non-Interest Income was $0.94 million, significantly lower than the estimated $2.06 million [4]. - Net Interest Income was $22.19 million, compared to the average estimate of $22.99 million [4]. Stock Performance - BCB Bancorp shares returned +1.8% over the past month, outperforming the Zacks S&P 500 composite's +0.8% change [3]. - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance in the near term [3].

Core Viewpoint - BCB Bancorp, Inc. reported a decline in net income and earnings per share for the fourth quarter of 2024 compared to both the previous quarter and the same quarter last year, reflecting challenges in loan origination and increased provisions for credit losses [1][13][22]. Financial Performance - Net income for Q4 2024 was $3.3 million, down from $6.7 million in Q3 2024 and $6.1 million in Q4 2023 [1]. - Earnings per diluted share were $0.16 for Q4 2024, compared to $0.36 in Q3 2024 and $0.35 in Q4 2023 [1]. - The provision for credit losses increased to $4.2 million in Q4 2024 from $2.9 million in Q3 2024 and $1.9 million in Q4 2023 [8][18]. Balance Sheet Review - Total assets decreased by $233.3 million, or 6.1%, to $3.599 billion at December 31, 2024, from $3.832 billion at December 31, 2023 [5]. - Loans receivable, net, decreased by $283.4 million, or 8.6%, to $2.996 billion at December 31, 2024 [7]. - Total deposits were $2.751 billion at December 31, 2024, compared to $2.979 billion at December 31, 2023, a decrease of $228.2 million, or 7.7% [10]. Income Statement Review - Net interest income decreased by $1.7 million, or 7.2%, to $22.2 million for Q4 2024 [14]. - Non-interest income fell to $938 thousand in Q4 2024 from $3.2 million in Q4 2023, largely due to losses on equity investments [19]. - Non-interest expense decreased by $2.2 million, or 13.3%, to $14.4 million for Q4 2024 [20]. Asset Quality - Non-accrual loans totaled $44.7 million, or 1.48% of gross loans, at December 31, 2024, compared to $18.8 million, or 0.57%, at December 31, 2023 [32]. - The allowance for credit losses on loans was $34.8 million, or 1.15% of gross loans, at December 31, 2024, up from $33.6 million, or 1.01%, at December 31, 2023 [9][32]. Capital Management - Stockholders' equity increased by $9.9 million, or 3.1%, to $323.9 million at December 31, 2024, primarily due to an increase in retained earnings [12]. - The Company declared a regular quarterly cash dividend of $0.16 per share, payable on February 24, 2025 [2].

Core Viewpoint - BCB Bancorp, Inc. reported a decline in net income and earnings per share for the fourth quarter of 2024 compared to both the previous quarter and the same quarter last year, highlighting challenges in net interest income and increased provisions for credit losses [1][13][22]. Financial Performance - Net income for Q4 2024 was $3.3 million, down from $6.7 million in Q3 2024 and $6.1 million in Q4 2023 [1]. - Earnings per diluted share for Q4 2024 were $0.16, compared to $0.36 in Q3 2024 and $0.35 in Q4 2023 [1]. - Year-to-date net income for 2024 decreased by $10.9 million, or 36.8%, to $18.6 million from $29.5 million in 2023 [22]. Balance Sheet Review - Total assets decreased by $233.3 million, or 6.1%, to $3.599 billion at December 31, 2024, from $3.832 billion at December 31, 2023 [5]. - Total cash and cash equivalents increased by $37.8 million, or 13.5%, to $317.3 million at December 31, 2024 [6]. - Loans receivable, net, decreased by $283.4 million, or 8.6%, to $2.996 billion at December 31, 2024 [7]. Income Statement Review - Net interest income decreased by $1.7 million, or 7.2%, to $22.2 million for Q4 2024 [14]. - Interest income decreased by $3.1 million, or 6.1%, to $46.7 million for Q4 2024 [15]. - Non-interest income decreased by $2.3 million to $938 thousand for Q4 2024 [19]. Asset Quality - The provision for credit losses was $4.2 million in Q4 2024, compared to $2.9 million in Q3 2024 and $1.9 million in Q4 2023 [8][18]. - Non-accrual loans totaled $44.7 million, or 1.48% of gross loans, at December 31, 2024, compared to $18.8 million, or 0.57%, at December 31, 2023 [32]. Capital and Dividends - The Board of Directors declared a regular quarterly cash dividend of $0.16 per share, payable on February 24, 2025 [2]. - Stockholders' equity increased by $9.9 million, or 3.1%, to $323.9 million at December 31, 2024 [12].

Financial Position - As of September 30, 2024, the company reported total assets of $3.614 billion, a decrease of $218.6 million or 5.7% from $3.832 billion at December 31, 2023[104] - Loans receivable, net, decreased by $191.8 million or 5.8% to $3.088 billion, primarily due to loan payoffs exceeding loan originations[104] - Total deposits decreased by $254.5 million or 8.5% to $2.725 billion, with a significant decline in certificates of deposit by $175.8 million[104] - Stockholders' equity increased by $14.1 million or 4.5% to $328.1 million, driven by an increase in additional paid-in capital and retained earnings[104] - Total outstanding borrowings increased to $533.5 million at September 30, 2024, compared to $510.4 million at December 31, 2023[114] Income and Expenses - Net interest income for the three months ended September 30, 2024, was $23.045 million, compared to $25.680 million for the same period in 2023[107] - Net interest income decreased by $2.6 million, or 10.3%, to $23.0 million in Q3 2024 from $25.7 million in Q3 2023, primarily due to higher interest expense[110] - Interest income fell by $441 thousand, or 0.9%, to $48.6 million in Q3 2024, while average yield increased by 13 basis points to 5.44%[110] - Interest expense rose by $2.2 million to $25.6 million in Q3 2024, driven by a 45 basis point increase in the average rate on interest-bearing liabilities to 3.62%[110] - For the first nine months of 2024, net income decreased by $8.1 million, or 34.5%, to $15.4 million, primarily due to a $10.3 million decline in net interest income[113] - Non-interest income increased by $1.1 million to $2.0 million for the first nine months of 2024, driven by gains on equity securities[113] Credit and Capital Ratios - The allowance for credit losses increased by $1.1 million to $34.7 million, representing 98.2% of non-accruing loans and 1.11% of gross loans[104] - The provision for credit losses was $7.4 million for the first nine months of 2024, compared to $4.2 million for the same period in 2023[113] - As of September 30, 2024, the Bank's Community Bank Leverage Ratio was 9.84%, exceeding the minimum requirement of 9%[118] - The Bancorp's Total Capital to Risk-Weighted Assets ratio was 13.14% as of September 30, 2024, above the 8.00% requirement for capital adequacy[120] - The Tier 1 Capital to Risk-Weighted Assets ratio was 10.38% as of September 30, 2024, surpassing the 6.00% minimum requirement[120] - The Common Equity Tier 1 Capital to Risk-Weighted Assets ratio was 9.32% as of September 30, 2024, exceeding the 4.50% requirement[120] - The Bank exceeded all regulatory capital requirements as of September 30, 2024, indicating a strong capital position[118] Interest Rate Risk Management - The Asset/Liability Committee is responsible for managing interest rate risk, which is a significant concern due to the mismatch in maturities of assets and liabilities[122] - A 100-basis point decrease in interest rates would result in a 0.25% increase in NPV as of September 30, 2024, compared to a 0.66% increase at December 31, 2023[123] Legal Proceedings - As of September 30, 2024, the Company was not involved in any material legal proceedings that could adversely affect its financial condition[126] Branch Operations - The company operates 23 branches in New Jersey and 3 branches in New York, focusing on community-oriented financial services[100]

Financial Performance - Net income for Q3 2024 was $6.7 million, unchanged from Q3 2023, with EPS of $0.36 compared to $0.39 in the prior year[1]. - Net income for Q3 2024 was $6.668 million, a 136.7% increase from $2.817 million in Q2 2024, but a slight decrease of 0.6% from $6.711 million in Q3 2023[29]. - Net income available to common stockholders was $6.193 million for Q3 2024, representing a 161.4% increase from $2.369 million in Q2 2024[29]. - Net income decreased by 34.5% to $15,351,000 from $23,421,000 year-over-year[31]. - Basic net income per common share decreased by 39.3% to $0.82 compared to $1.36 in the same period last year[31]. Income and Expenses - Net interest income decreased by $2.6 million, or 10.3%, to $23.0 million for Q3 2024 compared to $25.7 million in Q3 2023[10]. - Total interest and dividend income for Q3 2024 was $48.626 million, a decrease of 1.7% from $49.445 million in Q2 2024 and a decrease of 0.9% from $49.067 million in Q3 2023[29]. - Total non-interest expense for Q3 2024 was $13.929 million, a slight decrease of 0.4% from $13.987 million in Q2 2024 and a decrease of 9.9% from $15.463 million in Q3 2023[29]. - Total non-interest income surged by 132.8% to $2,002,000 from $860,000 year-over-year[31]. - Non-interest income increased by $1.7 million to $3.1 million for Q3 2024, primarily due to gains on equity investments[14]. Loans and Deposits - Total loans receivable decreased by $191.8 million, or 5.8%, to $3.088 billion at September 30, 2024, from $3.280 billion at December 31, 2023[6]. - Total deposits decreased by $254.5 million, or 8.5%, to $2.725 billion at September 30, 2024, from $2.979 billion at December 31, 2023[7]. - Total deposits for Q3 2024 were $2,724,580, down 7.2% from $2,935,239 in Q2 2024[39]. Credit Losses and Allowances - The provision for credit losses was $2.9 million in Q3 2024, up from $2.2 million in Q3 2023[4]. - Provision for credit losses increased to $2.890 million in Q3 2024, an 18.5% increase from $2.438 million in Q2 2024 and a 31.1% increase from $2.205 million in Q3 2023[29]. - The allowance for credit losses was $34.7 million, or 1.11% of gross loans, at September 30, 2024, up from $31.9 million, or 0.96% of gross loans, at September 30, 2023[21]. - The Company recognized $3.4 million in net charge offs for Q3 2024, a significant increase from $496 thousand in Q3 2023[21]. Asset Management - Total assets decreased by 4.7% to $3,613,770,000 from $3,793,941,000 in the previous quarter[32]. - Total assets increased to $3,763,311, up from $3,749,422 in the previous quarter[34]. - Stockholders' equity increased by $14.1 million, or 4.5%, to $328.1 million at September 30, 2024, from $314.1 million at December 31, 2023[9]. - Stockholders' equity rose to $321,783, compared to $300,941 in the previous quarter[34]. Efficiency and Ratios - The efficiency ratio improved to 53.22% in Q3 2024 from 68.55% in the previous quarter[4]. - The annualized return on average assets ratio for Q3 2024 was 0.72%, compared to 0.70% in Q3 2023[4]. - Net interest margin decreased to 2.58% in Q3 2024 from 2.78% in Q3 2023[37]. - Average yield on loans receivable was 5.38%, up from 5.12% in the same period last year[35]. - Book value per common share increased to $17.50, compared to $16.79 in Q3 2023[36].

Company Performance - BCB Bancorp reported quarterly earnings of $0.36 per share, exceeding the Zacks Consensus Estimate of $0.32 per share, but down from $0.39 per share a year ago, representing an earnings surprise of 12.50% [1] - The company posted revenues of $26.17 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.49%, but down from $27.09 million year-over-year [1] - Over the last four quarters, BCB Bancorp has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [1] Future Outlook - The stock's immediate price movement will largely depend on management's commentary during the earnings call and the company's earnings outlook [2][3] - The current consensus EPS estimate for the upcoming quarter is $0.34 on revenues of $25.39 million, and for the current fiscal year, it is $1.32 on revenues of $101.44 million [4] - The estimate revisions trend for BCB Bancorp is currently favorable, resulting in a Zacks Rank 2 (Buy), indicating expected outperformance in the near future [4] Industry Context - The Banks - Northeast industry, to which BCB Bancorp belongs, is currently in the top 38% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [5] - Another company in the same industry, Carter Bankshares, Inc., is expected to report quarterly earnings of $0.23 per share, reflecting a year-over-year increase of 15%, although its consensus EPS estimate has been revised 7.1% lower recently [5]