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 June 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 (Stat ...

Part I [Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) BCB Bancorp's Q1 2023 net income declined to $8.1 million due to higher credit loss provisions and unrealized investment losses [Financial Condition (Balance Sheet)](index=3&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) Total assets increased by **6.1%** to **$3.76 billion** as of March 31, 2023, primarily driven by loan growth Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2023 | December 31, 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets** | **$3,763,056** | **$3,546,193** | **+6.1%** | | Total cash and cash equivalents | $261,075 | $229,359 | +13.8% | | Loans receivable, net | $3,231,864 | $3,045,331 | +6.1% | | Debt securities available for sale | $86,988 | $91,715 | -5.2% | | **Total Liabilities** | **$3,465,438** | **$3,254,939** | **+6.5%** | | Total deposits | $2,867,209 | $2,811,607 | +2.0% | | FHLB advances | $532,399 | $382,261 | +39.3% | | **Total Stockholders' Equity** | **$297,618** | **$291,254** | **+2.2%** | [Results of Operations (Income Statement)](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Q1 2023 net income decreased to **$8.1 million** due to higher loan loss provisions and unrealized investment losses Income Statement Summary (in thousands, except per share data) | Metric | Q1 2023 | Q1 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Net Interest Income | $27,471 | $25,072 | +9.6% | | Provision (credit) for loan losses | $622 | $(2,575) | N/A | | Total non-interest income | $(1,664) | $(600) | -177.3% | | Total non-interest expense | $13,854 | $12,959 | +6.9% | | **Net Income** | **$8,106** | **$9,952** | **-18.5%** | | **Diluted EPS** | **$0.46** | **$0.56** | **-17.9%** | [Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2023 cash and cash equivalents increased by **$31.7 million**, primarily from operating and financing activities, offset by investing in loans Cash Flow Summary (in thousands) | Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $16,414 | $11,752 | | Net Cash Used In Investing Activities | $(185,704) | $(90,992) | | Net Cash Provided by Financing Activities | $201,006 | $64,264 | | **Net Increase (Decrease) in Cash** | **$31,716** | **$(14,976)** | [Loan Portfolio and Credit Quality](index=13&type=section&id=Note%207%20-%20Loans%20Receivable%20and%20Allowance%20for%20Credit%20Losses) Gross loans grew to **$3.27 billion**, primarily in commercial and multi-family segments, with CECL adoption impacting ACL and strong asset quality Loan Portfolio Composition (in thousands) | Loan Class | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Commercial and multi-family | $2,466,932 | $2,345,229 | | Commercial business | $327,598 | $282,007 | | Residential one-to-four family | $246,683 | $250,123 | | Construction | $162,553 | $144,931 | | Home equity & Consumer | $62,205 | $60,128 | | **Total Gross Loans** | **$3,265,971** | **$3,082,418** | - Effective January 1, 2023, the company adopted the CECL methodology, resulting in a **$4.2 million decrease** in the allowance for credit losses on loans and a **$1.3 million increase** for off-balance sheet exposures, leading to a **net $2.9 million increase** to retained earnings (net of tax)[21](index=21&type=chunk)[48](index=48&type=chunk) Credit Quality Indicators | Metric | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Non-Accrual Loans | $5,058 | $5,109 | | Non-Accrual Loans / Gross Loans | 0.16% | 0.17% | | Allowance for Credit Losses (ACL) | $28,882 | $32,373 | | ACL / Gross Loans | 0.89% | 1.05% | [Management's Discussion and Analysis (MD&A)](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses asset growth, net interest income trends, and factors impacting net income, highlighting strong liquidity and capital, including a **9.26%** CBLR [Analysis of Net Interest Income](index=30&type=section&id=Net%20Interest%20Income%20Analysis) Net interest income increased to **$27.5 million**, driven by higher asset yields, but net interest margin compressed to **3.15%** due to rising liability costs Net Interest Margin and Spread Analysis | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Average Yield on Earning Assets | 4.86% | 3.82% | | Average Cost of Bearing Liabilities | 2.24% | 0.50% | | Net Interest Rate Spread | 2.62% | 3.32% | | Net Interest Margin | 3.15% | 3.46% | [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with significant borrowing capacity and remains well-capitalized, reporting a Community Bank Leverage Ratio of **9.26%** - The company has access to multiple liquidity sources, including an additional **$385.0 million** in funding from the FHLB and an overall wholesale borrowing capacity of **over $800 million**[111](index=111&type=chunk) Bank Regulatory Capital Ratios | Ratio | As of March 31, 2023 | Well-Capitalized Requirement | | :--- | :--- | :--- | | Community Bank Leverage Ratio | 9.26% | 9.00% | [Market Risk Disclosures](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate risk, with NPV analysis indicating moderate sensitivity to rate changes, showing a **1.23%** decrease for a 100 bps upward shift Net Portfolio Value (NPV) Sensitivity Analysis | Change in Rates (bps) | % Change from PAR in NPV | | :--- | :--- | | +300 | -6.12% | | +200 | -3.45% | | +100 | -1.23% | | PAR | 0.00% | | -100 | -0.41% | Part II [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) The company highlights material changes to risk factors, including banking industry instability impacting customer confidence and deposit competition, and potential losses from declining securities values due to rising rates - Recent bank failures and negative media attention have generated market volatility and could negatively impact customer confidence, deposit costs, and regulatory scrutiny for community banks[120](index=120&type=chunk)[121](index=121&type=chunk) - Rising interest rates have decreased the value of the company's securities portfolio. If required to sell these securities to meet liquidity needs, the company could realize losses, potentially impairing capital and profitability[123](index=123&type=chunk)[124](index=124&type=chunk) [Share Repurchases and Other Items](index=34&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no material legal proceedings and repurchased **151,753** shares at an average price of **$16.83** per share during Q1 - The company is not involved in any material legal proceedings[119](index=119&type=chunk) Share Repurchases in Q1 2023 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 2023 | - | - | | Feb 2023 | 57,953 | $17.45 | | Mar 2023 | 93,800 | $16.45 | | **Total** | **151,753** | **$16.83** |

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, 2022. 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) | - ...