BAYONNE, N.J., July 02, 2024 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding company for BCB Community Bank (the “Bank” or “BCB”), today announced the election of Raymond J. Vanaria to the Board of Directors of both BCB Bancorp, Inc. and BCB Community Bank, effective immediately. Mr. Vanaria joined Malesardi, Quackenbush, Swift & Company LLC as an accountant in 1983, and became a member of the firm in 1988. He specializes in individual and corporate taxation, auditing, and ...

Financial Position - Total assets increased by $16.8 million, or 0.4%, to $3.849 billion at March 31, 2024, from $3.832 billion at December 31, 2023[105] - Total cash and cash equivalents increased by $72.9 million, or 26.1%, to $352.4 million at March 31, 2024, from $279.5 million at December 31, 2023[105] - Loans receivable, net, decreased by $52.8 million, or 1.6%, to $3.227 billion at March 31, 2024, from $3.280 billion at December 31, 2023[105] - Deposits increased by $12.6 million, or 0.4%, to $2.992 billion at March 31, 2024, from $2.979 billion at December 31, 2023[105] - Stockholders' equity increased by $6.1 million, or 1.9%, to $320.1 million at March 31, 2024, from $314.1 million at December 31, 2023[105] Income and Expenses - Net interest income for the three months ended March 31, 2024, was $23.143 million, compared to $27.471 million for the same period in 2023[108] - Net income for Q1 2024 was $5.9 million, down from $8.1 million in Q1 2023, primarily due to lower net interest income and higher credit loss provisioning[110] - Net interest income decreased by $4.3 million, or 15.8%, to $23.1 million in Q1 2024 from $27.5 million in Q1 2023, driven by higher interest expenses[110] - Interest income increased by $6.9 million, or 16.4%, to $49.3 million in Q1 2024, with an average balance of interest-earning assets rising by $216.1 million, or 6.2%[110] - Non-interest income rose by $3.8 million to $2.1 million in Q1 2024, mainly due to gains on equity securities[110] - Non-interest expenses increased by $984 thousand, or 7.1%, to $14.8 million in Q1 2024, attributed to higher regulatory assessment charges[110] Credit and Risk Management - The allowance for credit losses increased by $955 thousand to $34.6 million, or 155.4% of non-accruing loans, at March 31, 2024[105] - The provision for credit losses was $2.1 million in Q1 2024, compared to $622,000 in Q1 2023, indicating increased credit risk[110] Capital and Ratios - As of March 31, 2024, the Company had total outstanding borrowings of $510.6 million, slightly up from $510.4 million at December 31, 2023[111] - The Company had a Community Bank Leverage Ratio of 9.33% as of March 31, 2024, exceeding the minimum requirement of 9%[114] - Total capital to risk-weighted assets ratio was 11.56% as of March 31, 2024, above the regulatory requirement of 8%[116] Interest Rate Sensitivity - As of March 31, 2024, a 100-basis point decrease in interest rates would result in a 0.58% increase in NPV, compared to a 0.66% increase as of December 31, 2023[119] - The NPV ratio at a -100 basis point scenario is 10.59%, reflecting a $29,296 increase in net portfolio value[120] - The NPV ratio at a -200 basis point scenario is 11.03%, indicating a $54,373 increase in net portfolio value[120] - The NPV ratio at a -300 basis point scenario is 11.21%, showing a $69,984 increase in net portfolio value[120] - The company experienced an 8.56% decrease in NPV from PAR at a +100 basis point scenario[120] - The NPV table provides an indication of interest rate risk exposure but does not precisely forecast the effect of market interest rate changes on net interest income[119] Internal Controls and Procedures - The company has evaluated the effectiveness of its disclosure controls and procedures, concluding they are effective as of the end of the reporting period[119] - There were no changes to internal controls over financial reporting that materially affected the company's reporting during the most recent fiscal quarter[119] - The company assumes that the composition of interest-sensitive assets and liabilities remains constant over the measured period[119]

Core Viewpoint - BCB Bancorp, Inc. has elected Tara L. French to its Board of Directors, effective immediately, enhancing its leadership team with her extensive banking experience [1][2]. Company Overview - BCB Bancorp, Inc. is the holding company for BCB Community Bank, established in 2000 and headquartered in Bayonne, New Jersey [3]. - The Bank operates twenty-seven branch offices in New Jersey and four branches in New York, offering a wide range of loans, deposit products, and banking services [3]. Leadership Addition - Tara L. French previously served as an officer at Northfield Bank and has significant experience in banking, including roles as Chief Administrative Officer and Chief Risk Officer [1][2]. - Ms. French will contribute to the Audit Committee, ALCO Committee, and Nominating/Corporate Governance Committee [2]. Strategic Intent - The Chairman of the Board, Mark D. Hogan, expressed confidence that Ms. French's experience and leadership skills will be valuable as the company aims to grow its franchise [2].

Core Viewpoint - BCB Bancorp reported quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of $0.36 per share, and showing a decline from $0.60 per share a year ago, indicating ongoing challenges in meeting earnings expectations [1][3] Financial Performance - The company posted revenues of $25.25 million for the quarter ended March 2024, which was 6.02% below the Zacks Consensus Estimate and a decrease from $25.81 million in the same quarter last year [1] - Over the last four quarters, BCB Bancorp has consistently failed to surpass consensus EPS and revenue estimates [1] Stock Performance - BCB Bancorp shares have declined approximately 25.9% since the beginning of the year, contrasting with the S&P 500's gain of 5.1% [2] - The current Zacks Rank for BCB Bancorp is 3 (Hold), suggesting that the stock is expected to perform in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.37 on revenues of $27.53 million, and for the current fiscal year, it is $1.48 on revenues of $111.37 million [4] - The trend of estimate revisions for BCB Bancorp is mixed, which could change following the recent earnings report [4] Industry Context - The Banks - Northeast industry, to which BCB Bancorp belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential headwinds for stock performance [5] - Valley National, another company in the same industry, is expected to report a quarterly earnings decline of 33.3% year-over-year, with revenues anticipated to drop 8.8% from the previous year [5][6]

Financial Performance - Net income for the first quarter of 2024 was $5.9 million, down from $8.1 million in the first quarter of 2023, with earnings per diluted share at $0.32 compared to $0.46 a year ago[1][9] - Net income available to common stockholders was $5,432,000, down 7.6% from Q4 2023 and down 31.5% from Q1 2023[22] - Basic earnings per share for Q1 2024 was $0.32, a decrease of 7.9% from Q4 2023 and down 31.5% from Q1 2023[22] - Net income for Q1 2024 was $5,866 thousand, down 3.2% from $6,062 thousand in Q4 2023[27] Deposits and Loans - Total deposits increased by $12.6 million, or 0.4%, to $2.992 billion at March 31, 2024, from $2.979 billion at December 31, 2023[3][7] - Total loans receivable decreased by $52.8 million, or 1.6%, to $3.227 billion at March 31, 2024, from $3.280 billion at December 31, 2023[5][6] - Total deposits grew to $2,991,659 thousand, a 0.4% increase from $2,979,080 thousand in the previous quarter[23] Interest Income and Expenses - Net interest income decreased by $4.3 million, or 15.8%, to $23.1 million for the first quarter of 2024, primarily due to higher interest expenses[9][10] - Total interest and dividend income for Q1 2024 was $49,285,000, a decrease of 0.8% from Q4 2023 and an increase of 16.4% from Q1 2023[22] - Interest expense increased by 1.4% from Q4 2023 to $26,142,000, and increased by 75.7% from Q1 2023[22] - Net interest income for Q1 2024 was $23,143 thousand, down from $27,471 thousand in Q4 2023[24] Credit Losses and Non-Performing Loans - The provision for credit losses was $2.1 million in the first quarter of 2024, compared to $622 thousand in the first quarter of 2023[4][12] - Non-accrual loans totaled $22.2 million, or 0.68% of gross loans, at March 31, 2024, compared to $5.1 million, or 0.16%, a year earlier[15] - The company reported a provision for credit losses of $2,088,000, an increase of 8.4% from Q4 2023 and 235.7% from Q1 2023[22] - Non-accrual loans increased to $22,241 thousand, representing 0.68% of total loans, up from 0.57% in the previous quarter[25] Efficiency and Ratios - The efficiency ratio improved to 58.8% in the first quarter of 2024, down from 61.0% in the prior quarter[4] - The annualized return on average assets was 0.61% for the first quarter of 2024, compared to 0.90% in the first quarter of 2023[4] - The efficiency ratio for Q1 2024 was 58.76%, an increase from 52.32% in Q1 2023[32] Assets and Liabilities - Total assets increased to $3,849,195 thousand as of March 31, 2024, up 0.4% from $3,832,397 thousand in the previous quarter[23] - Total liabilities increased to $3,529,064 thousand, a 0.3% rise from $3,518,342 thousand in the previous quarter[23] Economic Challenges - The company highlighted ongoing economic challenges, including inflation and interest rate increases, which may impact future financial performance[18]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x Annual Report Pursuant To Section 13 or 15(d) Of The Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023. Or o Transition Report Pursuant To Section 13 or 15(d) Of The Securities Exchange Act of 1934 For the transition period from ______________ to ______________. Commission file number: 000-50275 BCB BANCORP, INC. (Exact name of registrant as specified in its charter) | - ...

BCB Bancorp (BCBP) reported $27.15 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 13.1%. EPS of $0.35 for the same period compares to $0.69 a year ago.The reported revenue represents a surprise of -0.66% over the Zacks Consensus Estimate of $27.33 million. With the consensus EPS estimate being $0.37, the EPS surprise was -5.41%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...

BCB Bancorp (BCBP) came out with quarterly earnings of $0.35 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.41%. A quarter ago, it was expected that this community bank would post earnings of $0.50 per share when it actually produced earnings of $0.39, delivering a surprise of -22%.Over the last four quarters, the company ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to fi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 0-50275 BCB Bancorp, Inc. (Exact name of registrant as specified in its charter) New Jersey 26-0065262 ...