PART I. CONSOLIDATED FINANCIAL INFORMATION [Item 1. Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) BCB Bancorp, Inc.'s Q1 2021 unaudited financial statements show total assets of $2.85 billion and net income of $7.1 million, a substantial increase year-over-year [Consolidated Statements of Financial Condition](index=3&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) Total assets reached $2.85 billion by March 31, 2021, driven by increased cash and deposits, while loans remained stable and equity grew slightly Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2021 (In thousands) | December 31, 2020 (In thousands) | | :--- | :--- | :--- | | **Total Assets** | **$2,852,460** | **$2,821,016** | | Total cash and cash equivalents | $296,938 | $261,229 | | Loans receivable, net | $2,296,434 | $2,295,021 | | **Total Liabilities** | **$2,599,006** | **$2,571,805** | | Total deposits | $2,404,135 | $2,318,050 | | FHLB advances | $133,298 | $191,161 | | **Total Stockholders' Equity** | **$253,454** | **$249,211** | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q1 2021 surged to $7.1 million, driven by a substantial increase in net interest income and reduced interest expense, boosting EPS to $0.40 Quarterly Income Statement Summary (Unaudited) | Metric | Three Months Ended March 31, 2021 (In thousands) | Three Months Ended March 31, 2020 (In thousands) | | :--- | :--- | :--- | | Net Interest Income | $23,562 | $18,778 | | Provision for loan losses | $1,865 | $1,500 | | Non-interest income | $1,950 | $683 | | Non-interest expense | $13,583 | $14,364 | | **Net Income** | **$7,117** | **$2,521** | | **Net Income available to common stockholders** | **$6,834** | **$2,179** | | **EPS (Basic & Diluted)** | **$0.40** | **$0.12** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2021 saw a $35.7 million net increase in cash, with operating activities providing $14.4 million and financing activities $25.2 million, partially offset by investing outflows Summary of Cash Flows (Unaudited) | Activity | Three Months Ended March 31, 2021 (In thousands) | Three Months Ended March 31, 2020 (In thousands) | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $14,368 | $5,665 | | Net Cash (Used In) Provided by Investing Activities | ($3,879) | $12,634 | | Net Cash Provided by Financing Activities | $25,220 | $26,534 | | **Net Increase in Cash and Cash Equivalents** | **$35,709** | **$44,833** | [Notes to Unaudited Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Notes detail accounting policies, COVID-19 impacts, CECL adoption, loan portfolio, allowance for loan losses, securities, and fair value measurements - The company is preparing for the adoption of ASU 2016-13 (CECL) in 2023, shifting credit loss reporting to an "expected loss" model, with a task group formed for implementation[17](index=17&type=chunk) Loan Portfolio Composition (March 31, 2021) | Loan Category | Amount (In thousands) | | :--- | :--- | | Commercial and multi-family | $1,700,113 | | Residential one-to-four family | $234,375 | | Commercial business | $177,340 | | Construction | $167,224 | | Home equity | $53,360 | | Consumer | $851 | | **Total Gross Loans** | **$2,333,263** | - The allowance for loan losses increased from **$33.6 million** at year-end 2020 to **$35.5 million** at March 31, 2021, with a **$1.87 million** provision recorded, covering **1.52%** of total gross loans[39](index=39&type=chunk)[111](index=111&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's discussion highlights Q1 2021's 182.3% net income growth, driven by increased net interest income and reduced expenses, alongside stable financial condition and strong capital [COVID-19 Overview](index=27&type=section&id=COVID-19%20Overview) The company actively managed COVID-19 impacts, concluding all loan deferments, increasing loan loss allowance, and earning $328,000 from PPP referral fees - The company has **no deferred loans** as of March 31, 2021, with prior deferments converted to modification plans, mainly short-term interest-only periods[108](index=108&type=chunk) - The provision for loan losses increased by **$1.9 million** in Q1 2021, reflecting heightened risk from the COVID-19 pandemic's economic impact[107](index=107&type=chunk) - The bank recognized **$328,000** in PPP loan referral fees in Q1 2021 through its partnership with The Loan Source, Inc[108](index=108&type=chunk) [Financial Condition](index=28&type=section&id=Financial%20Condition) Q1 2021 saw total assets grow to $2.85 billion, driven by increased cash and deposits, while debt decreased due to FHLB advance extinguishment, and equity rose - **Total assets** increased by **1.1%** to **$2.852 billion** as of March 31, 2021[110](index=110&type=chunk) - **Deposits** grew by **$86.1 million (3.7%)** during the quarter, primarily due to government stimulus and PPP loan proceeds[113](index=113&type=chunk) - The company extinguished **$53.0 million** in FHLB advances at a **1.83%** weighted average rate, reducing FHLB borrowing costs by approximately **20 basis points** annually[113](index=113&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Q1 2021 net income surged to $7.1 million, driven by a 182.3% increase, expanded net interest margin, and higher noninterest income, despite a debt extinguishment loss Key Performance Metrics (Q1 2021 vs Q1 2020) | Metric | Q1 2021 (in millions) | Q1 2020 (in millions) | | :--- | :--- | :--- | | Net Income | $7.1 | $2.5 | | Net Interest Income | $23.6 | $18.8 | | Net Interest Margin | 3.48% | 2.63% | | Avg. Cost of Interest-Bearing Liabilities | 0.85% | 1.78% | - **Total interest expense** decreased by **57.6%** year-over-year, primarily due to a **93 basis point** reduction in the average rate on interest-bearing liabilities[117](index=117&type=chunk) - **Noninterest income** increased by **185.5%**, driven by **$701,000** in new BOLI income and **$328,000** in PPP loan referral fees[119](index=119&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with over $800 million in borrowing capacity and remains well-capitalized, with a CBLR of 10.07% exceeding regulatory requirements - The company has access to over **$800 million** in wholesale borrowing capacity, including an additional **$245.7 million** from the FHLB[121](index=121&type=chunk) BCB Community Bank Capital Ratios (as of March 31, 2021) | Ratio | Actual (%) | Requirement for Well-Capitalized Status (%) | | :--- | :--- | :--- | | Community Bank Leverage Ratio | 10.07 | 8.50 | [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=32&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 showing a 0.22% increase for a +100bp rate change and a 21.83% increase for a -100bp change Net Portfolio Value (NPV) Sensitivity Analysis (as of March 31, 2021) | Change in Interest Rates | NPV (in thousands) | % Change from PAR | | :--- | :--- | :--- | | +300bp | $215,473 | (9.48)% | | +200bp | $227,964 | (4.24)% | | +100bp | $238,564 | 0.22% | | PAR | $238,046 | - | | -100bp | $290,021 | 21.83% | [Item 4. Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of March 31, 2021, with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures are **effective** for timely and accurate SEC reporting[127](index=127&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) As of March 31, 2021, the company was not involved in any material legal proceedings that would adversely affect its financial condition or operations - The company reports **no material legal proceedings** as of the end of the reporting period[128](index=128&type=chunk) [Item 1A. Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) No new risk factors were disclosed by the company during the reporting period - **No new risk factors** were disclosed in this quarterly report[130](index=130&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=33&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **32,093 shares** at an average price of **$12.79** under its stock repurchase program during Q1 2021 Share Repurchase Activity (Q1 2021) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 2021 | - | $ - | | Feb 2021 | - | $ - | | Mar 2021 | 32,093 | $12.79 | | **Total** | **32,093** | **$12.79** | - A maximum of **467,907 shares** may still be purchased under the current repurchase program as of March 31, 2021[131](index=131&type=chunk)

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, 2020 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 ...

PART I. CONSOLIDATED FINANCIAL INFORMATION [Item 1. Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) The unaudited financial statements show increased assets but a significant decline in net income due to the COVID-19 pandemic [Consolidated Statements of Financial Condition](index=3&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) Total assets grew to $2.99 billion, driven by loan growth, while deposits and stockholders' equity also increased Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Total Assets** | **$2,986,876** | **$2,907,468** | | Total cash and cash equivalents | $412,249 | $550,353 | | Loans receivable, net | $2,343,593 | $2,178,407 | | **Total Liabilities** | **$2,745,857** | **$2,667,995** | | Total deposits | $2,442,233 | $2,362,063 | | **Total Stockholders' Equity** | **$241,019** | **$239,473** | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Net income declined significantly in Q2 and the first half of 2020 due to lower net interest income and higher loan loss provisions Income Statement Summary (in thousands, except per share data) | Metric | Q2 2020 | Q2 2019 | YTD 2020 | YTD 2019 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $17,991 | $20,865 | $36,769 | $41,767 | | Provision for Loan Losses | $3,300 | $755 | $4,800 | $1,644 | | Net Income | $2,726 | $5,227 | $5,247 | $10,678 | | Diluted EPS | $0.14 | $0.30 | $0.26 | $0.62 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents decreased by $138.1 million in the first half of 2020, driven by net loan growth and security purchases Six-Month Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $2,609 | $10,813 | | Net Cash Used In Investing Activities | ($210,681) | ($12,649) | | Net Cash Provided by Financing Activities | $69,968 | $34,214 | | **Net (Decrease) Increase In Cash** | **($138,104)** | **$32,378** | [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Notes detail the financial impact of COVID-19, loan portfolio composition, credit loss allowances, and subsequent events - The company is subject to risks and uncertainties from the **COVID-19 pandemic**, the full extent of which on future financial condition is uncertain[12](index=12&type=chunk) - The company will adopt the new **Current Expected Credit Loss (CECL) standard in 2023** and is currently evaluating its impact[13](index=13&type=chunk) - Subsequent events include the **redemption of preferred stock**, a new branch opening, and the declaration of a **$0.14 per share common stock dividend**[78](index=78&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial and operational impacts of COVID-19, including increased loan loss provisions and participation in PPP [COVID-19 Overview and Response](index=36&type=section&id=COVID-19%20Overview%20and%20Response) The company increased its allowance for loan losses, provided significant loan deferments, and funded $127 million in PPP loans - The provision for loan losses was increased by **$4.8 million** for the six-month period ended June 30, 2020, due to the COVID-19 pandemic[81](index=81&type=chunk) - Through July 15, 2020, the Bank had closed and funded approximately **$127 million for almost 1,000 Paycheck Protection Program (PPP) loans**[83](index=83&type=chunk) Loan Deferment Summary by Type (in thousands) | Loan Type | Principal Balance (June 30, 2020) | Principal Balance (July 21, 2020) | | :--- | :--- | :--- | | Residential 1-4 family | $50,073 | $27,979 | | Commercial & multi-family | $473,861 | $384,736 | | Construction | $17,959 | $13,645 | | Commercial business | $32,185 | $33,077 | | Home equity | $4,388 | $2,229 | | **Total** | **$578,466** | **$461,666** | [Financial Condition Analysis](index=39&type=section&id=Financial%20Condition%20Analysis) Total assets grew 2.7% to $2.99 billion, driven by a 7.6% increase in net loans including PPP and purchased loans - Loans receivable, net increased by **$165.2 million (7.6%) to $2.344 billion**, which included $127.0 million from the PPP loan program[85](index=85&type=chunk) - Deposit liabilities increased by **$80.2 million (3.4%)**, primarily due to a $119.2 million increase in non-interest-bearing deposits[85](index=85&type=chunk) [Results of Operations Analysis](index=41&type=section&id=Results%20of%20Operations%20Analysis) Q2 net income fell 47.8% year-over-year due to net interest margin compression and a higher provision for loan losses - For Q2 2020, net interest income decreased by **$2.9 million (13.8%) to $18.0 million** compared to Q2 2019, as the average yield on assets fell 95 basis points[90](index=90&type=chunk) - The provision for loan losses increased by **$2.5 million to $3.3 million** for Q2 2020, primarily due to COVID-19 related factors[90](index=90&type=chunk) - Salaries and employee benefits expense decreased by **$1.2 million** in Q2 2020, related to $1.1 million of deferred costs for originating PPP loans[93](index=93&type=chunk) [Liquidity and Capital Resources](index=45&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity and capital, with a Community Bank Leverage Ratio of 8.96% exceeding regulatory requirements - The company had wholesale borrowing capacity of **over $700 million** as of June 30, 2020[98](index=98&type=chunk) Bank Regulatory Capital Ratios (June 30, 2020) | Ratio | Actual | Well-Capitalized Requirement | | :--- | :--- | :--- | | Community Bank Leverage Ratio | 8.96% | 8.00% | [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate risk, with analysis showing a 3.98% NPV decrease for a 100bp rate increase Net Portfolio Value (NPV) Sensitivity Analysis (June 30, 2020) | Change in Interest Rates | % Change from PAR | | :--- | :--- | | +300bp | (10.00)% | | +200bp | (6.51)% | | +100bp | (3.98)% | | PAR | - | | -100bp | 12.37% | [Item 4. Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of the quarter's end - The CEO and CFO concluded that the company's **disclosure controls and procedures are effective**[101](index=101&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company was not involved in any material legal proceedings as of June 30, 2020 - The company reports **no material legal proceedings** as of June 30, 2020[101](index=101&type=chunk) [Item 1A. Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors were reported for the quarter - **No material changes** to risk factors are reported for the quarter[104](index=104&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company completed its 500,000 share repurchase program during the second quarter at an average price of $9.71 per share - The stock repurchase program for **500,000 shares was completed** in the second quarter of 2020 and is now closed[105](index=105&type=chunk) Share Repurchase Summary (Q2 2020) | Period | Total Shares Purchased | Average Price Paid | | :--- | :--- | :--- | | March 2020 | 127,058 | $10.10 | | April 2020 | 141,724 | $9.77 | | May 2020 | 231,218 | $9.46 | | **Total** | **500,000** | **$9.71** |

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 March 31, 2020 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 (Sta ...

PART I [Business](index=3&type=section&id=ITEM%201.%20BUSINESS) BCB Bancorp, Inc. is a community-focused financial institution with $2.91 billion in assets, specializing in commercial and multi-family real estate lending across New Jersey and New York - BCB Bancorp, Inc. is the holding company for BCB Community Bank, with consolidated assets of approximately **$2.907 billion** as of December 31, 2019[5](index=5&type=chunk) - The Bank operates **30 locations** across various counties in New Jersey and three branches in New York, focusing on community-oriented financial services[6](index=6&type=chunk)[11](index=11&type=chunk) - The company's business strategy emphasizes maintaining a community focus, concentrating on real estate-based lending (particularly commercial and multi-family properties), and capitalizing on market dynamics from banking industry consolidation[9](index=9&type=chunk)[10](index=10&type=chunk) - In April 2018, the Company completed its acquisition of IA Bancorp, Inc. ("IAB"), integrating its operations and expanding its market presence[7](index=7&type=chunk)[8](index=8&type=chunk) [Lending Activities](index=5&type=section&id=Lending%20Activities) Lending activities are concentrated in real estate, with commercial and multi-family loans comprising 72.8% of the $2.20 billion portfolio, showing improved asset quality and increased allowance for loan losses Loan Portfolio Composition (December 31, 2019 vs 2018) | Loan Type | 2019 Amount ($ thousands) | 2019 Percent | 2018 Amount ($ thousands) | 2018 Percent | | :--- | :--- | :--- | :--- | :--- | | Commercial and multi-family | 1,606,976 | 72.9% | 1,697,837 | 73.7% | | Residential one-to-four family | 248,381 | 11.3% | 258,085 | 11.2% | | Commercial business | 177,642 | 8.1% | 165,193 | 7.2% | | Construction | 104,996 | 4.8% | 107,783 | 4.7% | | Home equity | 64,638 | 2.9% | 72,895 | 3.2% | | Consumer | 682 | 0.0% | 809 | 0.0% | | **Total Loans** | **2,203,315** | **100.0%** | **2,302,602** | **100.0%** | Non-Performing Assets Trend (2017-2019) | Metric | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | Total non-performing assets ($ thousands) | 6,578 | 9,976 | 13,883 | | Non-performing assets as a % of total assets | 0.23% | 0.37% | 0.71% | | Non-performing loans as a % of total loans | 0.22% | 0.38% | 0.80% | Allowance for Loan Losses Analysis (2018-2019) | Metric ($ thousands) | 2019 | 2018 | | :--- | :--- | :--- | | Beginning Balance | 22,359 | 17,375 | | Net Charge-offs | 694 | 146 | | Provisions charged to operations | 2,069 | 5,130 | | **Ending Balance** | **23,734** | **22,359** | [Investment Activities](index=14&type=section&id=Investment%20Activities) The investment portfolio, primarily for liquidity, totaled $107.9 million in 2019, mainly comprising mortgage-backed securities with a 2.79% weighted average yield Investment Securities Portfolio (December 31) | Security Type ($ thousands) | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | Mortgage-backed securities | 91,613 | 115,640 | 111,793 | | Municipal obligations | - | 3,695 | 2,502 | | Equity investments | 2,500 | 7,672 | 8,294 | | FHLB stock | 13,821 | 13,405 | 10,211 | | **Total investment securities** | **107,934** | **140,412** | **132,800** | [Sources of Funds](index=16&type=section&id=Sources%20of%20Funds) Deposits, the primary funding source, grew 8.3% to $2.36 billion in 2019, with certificates of deposit as the largest component, supplemented by $1.45 billion in FHLB borrowing capacity Deposit Composition (December 31) | Deposit Type ($ thousands) | 2019 | 2018 | | :--- | :--- | :--- | | Noninterest bearing accounts | 271,702 | 263,960 | | Interest bearing checking | 394,074 | 330,474 | | Savings and club accounts | 260,545 | 260,547 | | Money market | 305,790 | 221,898 | | Certificates of deposit | 1,129,952 | 1,103,845 | | **Total Deposits** | **2,362,063** | **2,180,724** | - Total deposits increased by **8.32%** in 2019, following a significant **38.96%** increase in 2018 which was partly driven by an acquisition[38](index=38&type=chunk) - At December 31, 2019, the Bank had a total credit exposure limit with the FHLB of **$1.454 billion**, representing **50%** of its total assets[43](index=43&type=chunk) [Supervision and Regulation](index=18&type=section&id=Supervision%20and%20Regulation) The company and its bank subsidiary are extensively regulated by federal and state authorities, subject to laws governing capital, consumer protection, and lending, requiring adherence to specific capital ratios - The Dodd-Frank Act significantly changed bank regulation, affecting lending, investment, and operating activities, and created the Consumer Financial Protection Bureau (CFPB)[48](index=48&type=chunk) - The Economic Growth, Regulatory Relief and Consumer Protection Act of 2018 eased regulations for banks with less than **$10 billion** in assets, including simplifying capital calculations via an optional community bank leverage ratio[51](index=51&type=chunk)[56](index=56&type=chunk) - As a bank holding company, the Company is regulated by the Federal Reserve Board and is subject to restrictions on non-banking activities, dividend payments, and capital distributions[52](index=52&type=chunk)[53](index=53&type=chunk) - The Bank must meet minimum capital standards, including a common equity Tier 1 ratio of **4.5%**, a Tier 1 capital ratio of **6.0%**, and a total capital ratio of **8.0%**; to be 'well capitalized', it must maintain higher ratios (e.g., **6.5% CET1**, **8.0% Tier 1**, **10.0% Total Capital**)[55](index=55&type=chunk)[56](index=56&type=chunk) [Risk Factors](index=25&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company faces significant risks from its high concentration in commercial and multi-family real estate loans, geographic concentration, interest rate fluctuations, and regulatory scrutiny - A high concentration of loans secured by commercial and multi-family real estate (**$1.607 billion**, or **72.93%** of the loan portfolio) exposes the company to greater risk of nonpayment and loss compared to one-to-four family residential loans[61](index=61&type=chunk) - The company's business and the collateral for its loans are geographically concentrated in New Jersey and the New York metropolitan area, exposing it to risks from a potential local economic downturn[63](index=63&type=chunk)[64](index=64&type=chunk) - The company depends primarily on net interest income for earnings, making it vulnerable to changes in interest rates which could compress margins or introduce reinvestment risk[65](index=65&type=chunk)[66](index=66&type=chunk) - The company's concentration in commercial real estate lending (**372.0%** of total capital) subjects it to additional regulatory scrutiny and may require heightened risk management practices and higher capital levels[74](index=74&type=chunk) [Unresolved Staff Comments](index=30&type=section&id=ITEM%201B.%20UNRESOLVED%20STAFF%20COMMENTS) The company has no unresolved staff comments from the Securities and Exchange Commission - None[78](index=78&type=chunk) [Properties](index=32&type=section&id=ITEM%202.%20PROPERTIES) As of December 31, 2019, the Bank operates 30 branch offices with a total net book value of $19.9 million for premises and equipment - The Bank operates **30 branch offices** and its total premises and equipment had a net book value of **$19.9 million** at year-end 2019[80](index=80&type=chunk)[81](index=81&type=chunk) [Legal Proceedings](index=33&type=section&id=ITEM%203.%20LEGAL%20PROCEEDINGS) The company is not involved in any material legal proceedings that would adversely affect its financial condition as of December 31, 2019 - As of December 31, 2019, the company was not involved in any material legal proceedings[83](index=83&type=chunk) [Mine Safety Disclosures](index=33&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) This item is not applicable to the company - Not applicable[84](index=84&type=chunk) PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=33&type=section&id=ITEM%205.%20MARKET%20FOR%20REGISTRANT%27S%20COMMON%20EQUITY%2C%20RELATED%20STOCKHOLDER%20MATTERS%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) The company's common stock trades on Nasdaq under "BCBP," with consistent quarterly cash dividends of $0.14 per share for the past three years - The Company's common stock trades on the Nasdaq Global Market under the symbol **"BCBP"**[84](index=84&type=chunk) - The Company has declared and paid a quarterly cash dividend of **$0.14 per share** for each quarter in the three years ended December 31, 2019[84](index=84&type=chunk) [Selected Consolidated Financial Data](index=35&type=section&id=ITEM%206.%20SELECTED%20CONSOLIDATED%20FINANCIAL%20DATA) This section presents a five-year financial summary, showing total assets growing to $2.91 billion and net income increasing to $21.0 million in 2019, with improved ROAA and ROAE Selected Financial Data (2015-2019) | Metric ($ thousands, except per share) | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | Total assets | 2,907,468 | 2,674,731 | 1,942,837 | 1,708,208 | 1,618,406 | | Loans receivable, net | 2,178,407 | 2,278,492 | 1,643,677 | 1,485,159 | 1,420,118 | | Deposits | 2,362,063 | 2,180,724 | 1,569,370 | 1,392,205 | 1,273,929 | | Stockholders' equity | 239,473 | 200,215 | 176,454 | 131,081 | 133,544 | | Net income | 21,034 | 16,763 | 9,982 | 8,003 | 7,030 | | Diluted EPS | $1.20 | $1.01 | $0.75 | $0.63 | $0.69 | Selected Financial Ratios (2015-2019) | Ratio | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | Return on average assets | 0.76% | 0.70% | 0.55% | 0.47% | 0.48% | | Return on average stockholders' equity | 9.66% | 8.86% | 7.02% | 6.11% | 6.52% | | Net interest margin | 3.07% | 3.31% | 3.49% | 3.32% | 3.72% | | Non-performing assets to total assets | 0.23% | 0.37% | 0.71% | 1.29% | 1.55% | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=36&type=section&id=ITEM%207.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) MD&A highlights an 8.7% asset increase to $2.91 billion, a 4.4% loan decrease, and an 8.3% deposit growth, with net income rising 25.5% to $21.0 million despite net interest margin compression - Total assets increased by **$232.7 million** (**8.7%**) to **$2.907 billion** at Dec 31, 2019, mainly due to a **$355.1 million** increase in cash and cash equivalents[102](index=102&type=chunk)[103](index=103&type=chunk) - Net loans receivable decreased by **$100.1 million** (**4.4%**) to **$2.178 billion**, a result of management's efforts to curtail loan growth in 2019[104](index=104&type=chunk) - Net income increased by **$4.3 million** (**25.5%**) to **$21.0 million** for 2019, driven by higher net interest income and a lower provision for loan losses[115](index=115&type=chunk) - Net interest margin decreased to **3.07%** in 2019 from **3.31%** in 2018, as the average rate on interest-bearing liabilities increased by **42 basis points**, outpacing the **11 basis point** increase in the average yield on interest-earning assets[115](index=115&type=chunk)[119](index=119&type=chunk) - The provision for loan losses decreased by **$3.1 million** to **$2.1 million** for 2019, primarily due to the reduction in net loans receivable[119](index=119&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=ITEM%207A.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company's primary market risk is interest rate risk, with NPV sensitivity analysis showing an 18.42% decrease for a 300-basis point rate increase Net Portfolio Value (NPV) Sensitivity Analysis (as of Dec 31, 2019) | Change in Interest Rates (Basis Points) | Net Portfolio Value ($ thousands) | $ Change from PAR | % Change from PAR | | :--- | :--- | :--- | :--- | | +300bp | 220,051 | (49,684) | (18.42)% | | +200bp | 237,862 | (31,873) | (11.82)% | | +100bp | 255,770 | (13,965) | (5.18)% | | PAR | 269,735 | - | - | | -100bp | 282,243 | 12,508 | 4.64% | [Financial Statements and Supplementary Data](index=47&type=section&id=ITEM%208.%20FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) This section presents the audited consolidated financial statements for 2019 and 2018, including the independent auditor's report and detailed notes - The independent auditor, Wolf & Company, P.C., issued an unqualified opinion on the consolidated financial statements, stating they present fairly, in all material respects, the financial position and results of operations of the Company[130](index=130&type=chunk) Consolidated Statement of Financial Condition Highlights (as of Dec 31) | ($ thousands) | 2019 | 2018 | | :--- | :--- | :--- | | Total Assets | 2,907,468 | 2,674,731 | | Loans receivable, net | 2,178,407 | 2,278,492 | | Total Deposits | 2,362,063 | 2,180,724 | | Total Liabilities | 2,667,995 | 2,474,516 | | Total Stockholders' Equity | 239,473 | 200,215 | Consolidated Statement of Operations Highlights (Year Ended Dec 31) | ($ thousands) | 2019 | 2018 | | :--- | :--- | :--- | | Net interest income | 82,604 | 77,681 | | Provision for loan losses | 2,069 | 5,130 | | Non-interest income | 5,391 | 7,960 | | Non-interest expense | 55,583 | 56,266 | | **Net Income** | **21,034** | **16,763** | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=111&type=section&id=ITEM%209.%20CHANGES%20IN%20AND%20DISAGREEMENTS%20WITH%20ACCOUNTANTS%20ON%20ACCOUNTING%20AND%20FINANCIAL%20DISCLOSURE) This item is not applicable to the company - Not applicable[326](index=326&type=chunk) [Controls and Procedures](index=113&type=section&id=ITEM%209A.%20CONTROLS%20AND%20PROCEDURES) Management and the independent auditor concluded that the company's disclosure controls and internal control over financial reporting were effective as of December 31, 2019 - Based on an evaluation as of December 31, 2019, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[328](index=328&type=chunk) - Management assessed the company's internal control over financial reporting as effective as of December 31, 2019, based on the COSO framework; the independent registered public accounting firm also issued an unqualified audit report on internal controls[328](index=328&type=chunk) [Other Information](index=113&type=section&id=ITEM%209B.%20OTHER%20INFORMATION) The company reports no other information for this item - None[329](index=329&type=chunk) PART III [Directors, Executive Officers, Corporate Governance, Compensation, and Related Matters](index=114&type=section&id=ITEMS%2010-14) Information for Items 10-14, covering governance, compensation, and related matters, is incorporated by reference from the 2020 Proxy Statement - Information required for Items 10, 11, 12, 13, and 14 is incorporated by reference from the Company's 2020 Proxy Statement[330](index=330&type=chunk)[331](index=331&type=chunk)[332](index=332&type=chunk)[333](index=333&type=chunk) PART IV [Exhibits and Financial Statement Schedules](index=115&type=section&id=ITEM%2015.%20EXHIBITS%20AND%20FINANCIAL%20STATEMENT%20SCHEDULES) This section lists all financial statements, schedules, and exhibits filed with the Form 10-K, including corporate governance and executive certifications - This section lists all financial statements and exhibits filed with the Form 10-K, including corporate governance documents, equity plans, and executive certifications[335](index=335&type=chunk)[336](index=336&type=chunk) [Form 10-K Summary](index=116&type=section&id=ITEM%2016.%20FORM%2010-K%20SUMMARY) The company indicates there is no Form 10-K summary - None[343](index=343&type=chunk)