Financial Data and Key Metrics Changes - The company reported a net loss of $2.7 million or 13¢ per diluted share for Q1 2025, similar to the prior quarter, but showed a meaningful improvement in net interest income [9][10] - Net interest income increased by $1.3 million or 13.4%, driven by a 27 basis point expansion in net interest margin [9][10] - Tangible book value per share increased to $14.81, up 7¢ from the prior quarter [6] Business Line Data and Key Metrics Changes - Loan production totaled $90 million during the quarter with a weighted average yield of approximately 7.1% [5] - The company achieved 3% loan growth, with $44 million in deposit growth and a 14 basis point reduction in the cost of deposits [4] - The loan portfolio included $33 million in commercial real estate loans, $9 million in residential mortgages, and $7 million in construction loans [5] Market Data and Key Metrics Changes - Deposits increased by $43.9 million or 3.2%, with core deposit count growing by $24.4 million or 3.8% [13][14] - The company maintained a strong liquidity position with $413 million in untapped borrowing capacity and $28 million in liquidity from unencumbered available-for-sale securities and unrestricted cash [7] Company Strategy and Development Direction - The strategic priorities for 2025 focus on driving loan growth, maintaining strong credit quality, and diversifying low-cost funding sources [3] - The company is emphasizing higher-yielding asset classes and portfolio diversification to enhance earnings and long-term franchise value [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum of lending and deposit gathering activities, despite reporting a net loss [4] - The company expects additional margin expansion of 5 to 10 basis points in the second quarter [18] - Management highlighted the importance of maintaining expense discipline while anticipating operating expenses to remain in the high $13 million to low $14 million range [11] Other Important Information - The company repurchased 464,000 shares at a weighted average price of $9.52, enhancing shareholder value [6] - Nonperforming assets increased slightly but remain low at 27 basis points of total assets [15] Q&A Session Summary Question: Margin for the quarter - Management expects margin expansion of 5 to 10 basis points in the second quarter [18] Question: Loan maturities and resets - Approximately $220 million in loans will mature or reprice within 2025, with yields just shy of 7% [19] Question: Deposit rates and margin expansion - The company has room to lower rates on core deposits as they transition from CDs [21] Question: Unsecured consumer loans - The yield on unsecured consumer loans is around 7%, and they come with credit reserves [24] Question: Future loan purchases - The company will consider additional loan purchases to augment organic growth but does not have a set cap on this strategy [26] Question: Expense outlook - Additional bankers may be hired to support organic loan growth, impacting expenses [41] Question: Share buyback program - The company plans to continue executing the share buyback program while being mindful of capital deployment [53]

Exhibit 99.1 FOR IMMEDIATE RELEASE Blue Foundry Bancorp Reports First Quarter 2025 Results RUTHERFORD, NJ, April 30, 2025 — Blue Foundry Bancorp (NASDAQ:BLFY) (the "Company"), the holding company for Blue Foundry Bank (the "Bank"), today reported a net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended March 31, 2025, compared to net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended December 31, 2024, and a net loss of $2.8 million, or $0.13 ...

Core Points - Blue Foundry Bancorp reported a net loss of $2.7 million, or $0.13 per diluted common share, for Q1 2025, consistent with the previous quarter and slightly improved from a net loss of $2.8 million in Q1 2024 [1][34]. Financial Performance - The net interest margin increased by 27 basis points to 2.16%, driven by improved yields on assets and reduced costs of liabilities [2][12]. - Interest income for the quarter was $22.7 million, up by $928 thousand, or 4.3%, compared to the previous quarter [6]. - Interest expense decreased by $343 thousand, or 2.8%, to $12.0 million compared to the linked quarter [6]. Loan and Deposit Growth - Total loans increased by $42.2 million to $1.63 billion, with significant growth in commercial real estate and consumer portfolios [4][22]. - Deposits rose by $43.9 million to $1.39 billion, with increases in NOW and demand accounts and time deposits [7][22]. Asset Quality - The non-performing asset ratio was 0.27%, with non-performing loans totaling $5.7 million, or 0.35% of total loans [28][36]. - The allowance for credit losses on loans was 0.81% of gross loans, with a provision for credit losses of $201 thousand recorded for Q1 2025 [28][36]. Capital Position - Tangible book value per share increased to $14.81, and the company maintained a strong capital position [2][28]. - Shareholders' equity decreased by $5.5 million to $326.7 million, primarily due to share repurchases [28].

Core Points - Blue Foundry Bancorp reported a net loss of $2.7 million for Q1 2025, consistent with the previous quarter and slightly improved from a loss of $2.8 million in Q1 2024 [1][6][35] - The company experienced a 27 basis points increase in net interest margin, reaching 2.16%, driven by improved yields on assets and reduced costs of liabilities [2][12] - Total loans increased by $42.2 million to $1.63 billion, with significant growth in commercial real estate and consumer loan portfolios [4][22] - Deposits rose by $43.9 million to $1.39 billion, with a notable increase in NOW and demand accounts [6][7][22] Financial Performance - Interest income for Q1 2025 was $22.7 million, a 4.3% increase from the previous quarter, while interest expense decreased by 2.8% to $12.0 million [6][12] - The provision for credit losses was $201 thousand, reflecting an increase in the commercial real estate portfolio [6][29] - Non-performing loans totaled $5.7 million, representing 0.35% of total loans, an increase from 0.33% in the previous quarter [29][36] Loan and Deposit Details - The consumer loan portfolio increased by $34.3 million, while the commercial real estate portfolio grew by $28.5 million [4][22] - Core deposits accounted for 47.6% of total deposits, slightly up from 47.3% at the end of 2024 [22] - Brokered deposits increased to $205 million, supplementing the reduction in retail time deposits [22] Capital and Asset Quality - Tangible book value per share increased to $14.81, while shareholders' equity decreased to $326.7 million due to share repurchases and year-to-date losses [2][22] - The allowance for credit losses on loans was 0.81%, with a coverage ratio of 229.81% for non-performing loans [29][36] - The company's capital ratios remain above the FDIC's "well capitalized" standards [23]

Core Points - Blue Foundry Bancorp will release its financial results for the quarter ended March 31, 2025, on April 30, 2025 [1] - A conference call for investors and analysts will be held on the same day at 11:00 AM (ET) to discuss the earnings [2] - Participants are encouraged to pre-register for the webcast call [3] Company Overview - Blue Foundry Bancorp is the holding company for Blue Foundry Bank, headquartered in Rutherford, NJ, with a presence in several counties [4] - The bank offers tailored products and services to individuals and businesses, emphasizing its commitment to the community [4] - Blue Foundry Bank has a history of over 145 years, highlighting its longstanding dedication to customers [4]

Credit Risk and Loan Performance - As of December 31, 2024, the company's allowance for credit losses on loans was 0.83% of total loans and 254.02% of non-performing loans [175]. - The company's non-performing assets totaled $5.1 million, representing 0.25% of total assets as of December 31, 2024 [177]. - The company may face increased loan delinquencies and problem assets due to adverse economic conditions [189]. - The company is vulnerable to local economic downturns due to the geographic concentration of its loan portfolio primarily in New Jersey [186]. Investment Portfolio and Interest Rate Sensitivity - The investment portfolio was approximately $330.1 million, with $297.0 million classified as available-for-sale and $33.2 million as held-to-maturity [185]. - An instantaneous 200 basis point increase in market interest rates would decrease the company's net portfolio value by $70.1 million [172]. - A 100 basis point increase in interest rates would result in a 19% decrease in the company's net present value (NPV) [291]. - The company's net interest income sensitivity analysis shows a potential increase of $48,719 thousand (2.5%) with a 200 basis point increase in interest rates [289]. - The company has entered into derivative financial instruments with an aggregate notional amount of $349.0 million to manage interest rate volatility [284]. - The company utilizes a third-party modeling program to evaluate interest rate risk and assess liquidity requirements on a quarterly basis [281]. Business Strategy and Growth Challenges - The company intends to increase its commercial real estate and commercial loan originations, which will elevate lending risk [173]. - The company plans to grow its assets and deposits, but faces challenges in attracting customers from competitors and managing growth effectively [194]. - New de novo branches may increase expenses faster than revenues, impacting earnings until sufficient deposits and loans are generated [195]. - The company is investing in new lines of business and products, but faces risks related to market acceptance and regulatory compliance [196]. Regulatory and Compliance Issues - The company is subject to extensive regulation, which may increase operational costs and affect business operations [216]. - The company expects increased expenses due to the obligations of being a public company, including substantial public reporting requirements [213]. - The company may need to hire additional compliance and accounting staff to meet public company requirements, which could increase operating expenses [213]. Operational Risks and Management - The company relies on third-party vendors for operations, which exposes it to operational and information security risks [208]. - The management team is crucial for implementing the business strategy, and the loss of key personnel could adversely affect operations [210]. - Cybersecurity risks are increasing, and while the Board oversees risk management, reliance on management and consultants remains significant [211]. - Changes in management's estimates and assumptions could materially impact the company's consolidated financial statements [220]. Economic Environment and Market Conditions - Inflation remained above the Federal Reserve's 2% target throughout 2024, posing risks to consumer purchasing power and business loan repayments [191]. - Approximately $108 million, or 6.8% of total loans, are in New York multifamily loans affected by rent stabilization or rent control regulations [222]. - Competition in the financial services industry is intense, with larger competitors able to offer better pricing and a broader range of services [198]. - A lack of liquidity could adversely affect the company's financial condition and results of operations, impacting its ability to fund operations [188]. - The company utilizes stress analysis during underwriting to mitigate risks associated with adjustable-rate loans in a rising interest rate environment [178].

Financial Data and Key Metrics Changes - The company reported a quarterly net loss of $2.7 million, an improvement from a net loss of $4 million in the prior quarter [3][7] - Net interest income increased by $386,000, leading to a 7 basis point improvement in net interest margin [7][8] - Tangible book value per share remained flat at $14.74 [6] Business Line Data and Key Metrics Changes - Gross loans increased by $32.5 million during the quarter, predominantly in owner-occupied commercial real estate [10] - The yield on loans improved by 4 basis points to 4.57% [8] - The company funded $59 million of loans during the quarter, yielding approximately 7.5% [5] Market Data and Key Metrics Changes - Deposits grew by $25 million, with a 17% increase in non-interest bearing accounts [3][11] - Non-performing assets declined modestly, with non-performing assets to assets and non-performing loans to loans remaining relatively flat at 25 basis points and 33 basis points respectively [12] Company Strategy and Development Direction - The company aims to transform into a more commercially oriented institution, focusing on attracting full banking relationships with small to medium-sized businesses [4] - A strategic plan is in place to develop new relationships and deepen existing ones within the communities served [4] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the improvement in yield on interest-earning assets and cost of interest-bearing liabilities, indicating a potential inflection point in net interest margin [4] - The company expects continued balance sheet and interest income growth while remaining disciplined in underwriting standards [5] Other Important Information - The company has robust liquidity with $408 million in untapped borrowing capacity and $211 million in unencumbered available-for-sale securities and unrestricted cash [6] - The allowance for credit losses was released by $301,000, primarily due to loan growth from commitments made in the previous quarter [9][10] Q&A Session Summary Question: Loan growth expectations and multifamily sector performance - Management indicated that they are focusing on growing the commercial book and are monitoring concentration limits in the multifamily space [15] Question: Pipeline activity and future growth - Management noted an improvement in the pipeline, with $60 million of commercial loans in letters of intent [16] Question: Deposit cost progression and margin expectations - Management reported a decrease in deposit costs to 2.9% and anticipates further improvements as rates trend lower [17][19] Question: Expense guidance for 2025 - Management expects operating expenses to remain in the mid to high $13 million range for 2025 [28] Question: Variable compensation metrics for 2025 - The compensation metrics are aligned with growth in loans, deposits, and net interest margin [30] Question: Construction portfolio yields - The yields on the construction portfolio are expected to be between 50 to 100 basis points above the prime rate [31]

Core Viewpoint - Blue Foundry Bancorp reported a quarterly loss of $0.13 per share, which was better than the Zacks Consensus Estimate of a loss of $0.17, indicating a positive earnings surprise of 23.53% [1] Financial Performance - The company posted revenues of $9.89 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 0.67%, but showing a slight increase from $9.77 million in the same quarter last year [2] - Over the last four quarters, Blue Foundry Bancorp has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - Blue Foundry Bancorp shares have declined approximately 0.2% since the beginning of the year, while the S&P 500 has gained 3.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.17 on revenues of $10.31 million, and for the current fiscal year, it is -$0.56 on revenues of $44.98 million [7] - The estimate revisions trend for Blue Foundry Bancorp is mixed, which could change following the recent earnings report [6] Industry Context - The Banks - Northeast industry, to which Blue Foundry Bancorp belongs, is currently ranked in the top 9% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Financial Performance - The company reported a net loss of $11.9 million, or $0.55 per diluted common share, for the year ended December 31, 2024, compared to a net loss of $7.4 million, or $0.31 per diluted common share for the year ended December 31, 2023[2]. - The net loss for the three months ended December 31, 2024, was $2,687,000, an improvement from a net loss of $2,931,000 in the same period of 2023[41]. - Non-interest income decreased by $152 thousand, or 26.57%, compared to the fourth quarter of 2023, primarily due to the absence of gains on sales of loans and securities[15]. - Non-interest expense for the year increased by $1.0 million to $52.6 million, driven by higher compensation and benefits costs[21]. - Total non-interest expenses were $12,881,000 for the three months ended December 31, 2024, compared to $12,543,000 for the same period in 2023, representing an increase of 2.7%[41]. - The efficiency ratio (non-GAAP) improved to 130.20% for the three months ended December 31, 2024, compared to 140.04% in the previous quarter[43]. Loan and Deposit Growth - Total loans increased by $22.8 million during 2024, reaching $1.58 billion, with significant growth in commercial real estate loans ($27.1 million) and construction loans ($25.1 million) offset by declines in residential and multifamily loans[5][27]. - Total deposits increased by $98.4 million, or 7.91%, to $1.34 billion compared to December 31, 2023, primarily driven by increases in time deposits and NOW and demand accounts[8][27]. - Deposits rose to $1,343.3 million at December 31, 2024, compared to $1,244.9 million at December 31, 2023[39]. - Total deposits reached $1,343,320 million, up from $1,244,904 million a year ago, indicating a growth of 7.9%[55]. Asset Quality - Non-performing loans to total loans remained low at 0.33%, with the allowance for credit losses covering non-performing loans by over 2.5 times[4][6]. - Non-performing loans totaled $5.1 million, or 0.33% of total loans at December 31, 2024, down from $5.9 million, or 0.38% at December 31, 2023[30]. - Non-performing loans decreased to $5,104,000 as of December 31, 2024, down from $6,208,000 a year earlier, indicating improved asset quality[43]. - The allowance for credit losses on loans was 0.83% of total loans at December 31, 2024, compared to 0.91% at December 31, 2023[30]. - The allowance for credit losses on loans to total loans ratio was 0.83% as of December 31, 2024, slightly down from 0.91% a year ago[43]. Interest Income and Margin - Interest income for the fourth quarter was $21.8 million, an increase of $253 thousand, or 1.2%, compared to the prior quarter[6]. - Total interest income for the three months ended December 31, 2024, was $21,785,000, an increase of 7.1% compared to $20,335,000 for the same period in 2023[41]. - Net interest income after the release of provision for credit losses was $9,774,000 for the three months ended December 31, 2024, compared to $9,040,000 for the same period in 2023, reflecting a 8.1% increase[41]. - The net interest margin increased by seven basis points to 1.89% in the fourth quarter of 2024 compared to the previous quarter[6][11]. - The net interest margin for the three months ended December 31, 2024, was 1.89%, up from 1.84% in the same period last year[47]. - The net interest rate spread for the three months ended December 31, 2024, was 1.40%, compared to 1.33% for the same period in 2023[48]. Shareholder Equity and Capital - Shareholders' equity decreased by $23.4 million to $332.2 million, primarily due to share repurchases costing $19.4 million[30]. - Total shareholders' equity as of December 31, 2024, was $337,320,000, a decrease from $357,275,000 on December 31, 2023[47]. - Tangible equity to tangible assets was 16.11% at December 31, 2024, down from 17.37% at December 31, 2023[30]. - Tangible equity decreased to $331,954 million from $355,083 million year-over-year, reflecting a decline of 6.5%[55]. - Book value per share remained stable at $14.75 as of December 31, 2024, compared to $14.51 a year earlier[43]. Borrowings and Assets - FHLB borrowings decreased by $58.0 million to $339.5 million, with deposit growth outpacing asset growth[30]. - Total assets increased to $2,060.7 million as of December 31, 2024, from $2,044.9 million at December 31, 2023[39]. - Total assets as of December 31, 2024, were $2,054,391,000, an increase from $2,042,561,000 on December 31, 2023[47]. - Total interest-bearing assets for the three months ended December 31, 2024, were $1,992,805,000, with a total interest income of $21,785,000, resulting in a yield of 4.37%[47].

Financial Performance - The company reported a net loss of $11.9 million, or $0.55 per diluted common share, for the year ended December 31, 2024, compared to a net loss of $7.4 million, or $0.31 per diluted common share for the year ended December 31, 2023 [1] - For the three months ended December 31, 2024, the company reported a net loss of $2.7 million, or $0.13 per diluted common share, an improvement from a net loss of $4.0 million, or $0.19 per diluted common share for the three months ended September 30, 2024 [2] Loan and Deposit Growth - Gross loans increased by $22.8 million during 2024, with notable increases in commercial real estate loans ($27.1 million), construction loans ($25.1 million), and other categories, while residential loans decreased by $32.7 million [4][31] - Total deposits increased by $98.4 million, or 7.91%, from December 31, 2023, primarily due to increases in time deposits and NOW and demand accounts [8][31] Interest Income and Expenses - Interest income for the fourth quarter of 2024 was $21.8 million, an increase of $253 thousand, or 1.2%, compared to the prior quarter [6] - Interest expense for the quarter was $12.3 million, a decrease of $133 thousand, or 1.1%, compared to the prior quarter [6] Credit Quality - The allowance for credit losses on loans was 0.83% of total loans at December 31, 2024, compared to 0.91% at December 31, 2023, indicating improved credit quality [38] - Non-performing loans totaled $5.1 million, or 0.33% of total loans at December 31, 2024, down from $5.9 million, or 0.38% at December 31, 2023 [38] Shareholder Equity and Capital Ratios - Shareholders' equity decreased by $23.4 million to $332.2 million, primarily due to share repurchases and year-to-date losses [31] - Tangible equity to tangible assets was 16.11% at December 31, 2024, down from 17.37% at December 31, 2023 [31]