Core Viewpoint - Blue Foundry Bancorp will release its financial results for the fourth quarter and year-end 2024 on January 29, 2025, with a conference call scheduled for the same day to discuss the results and address questions from analysts [1][2]. Group 1 - The financial results will be available on the Company's website and the SEC's website [1]. - A conference call for investors and analysts will take place at 11:00 AM (ET) on January 29, 2025 [2]. - Participants are encouraged to pre-register for the webcast call to receive confirmation and calendar invitations [3]. Group 2 - The Company provides dial-in information for participants unable to join via webcast, including a toll-free number for the United States and an international number [4]. - Blue Foundry Bancorp is the holding company for Blue Foundry Bank, which has a history of over 145 years and serves various counties in New Jersey [4]. - The bank focuses on offering tailored products and services to individuals and businesses in its communities [4].

Core Viewpoint - Blue Foundry Bancorp will release its financial results for the fourth quarter and year-end 2024 on January 29, 2025, and will hold a conference call to discuss these results with investors and analysts [1][2]. Group 1: Financial Results Announcement - The financial results for the quarter ended December 31, 2024, will be available on the Company's website and the SEC's website [1]. - A conference call for investors and analysts is scheduled for January 29, 2025, at 11:00 AM (ET) to discuss the earnings [2]. Group 2: Conference Call Details - Participants are encouraged to pre-register for the webcast call, receiving immediate confirmation and a calendar invitation [3]. - Dial-in information is provided for those unable to join via webcast, including a toll-free number for the United States and an international number [4]. Group 3: Company Overview - Blue Foundry Bancorp is the holding company for Blue Foundry Bank, which has a history of over 145 years and serves various counties in New Jersey [4]. - The bank offers tailored products and services to individuals and businesses, emphasizing its commitment to customers and communities [4].

Core Viewpoint - Blue Foundry Bancorp has initiated a fifth stock repurchase program, allowing the repurchase of up to 1.14 million shares, which is about 5% of its outstanding shares, following the completion of its fourth program [1][2]. Company Summary - The fifth stock repurchase program commenced on November 8, 2024, and follows the completion of the fourth program on November 7, 2024, which authorized the repurchase of up to 1.2 million shares [1]. - Blue Foundry Bancorp has a history of share repurchase programs, having repurchased a total of 6.65 million shares since its initial public offering in July 2021, representing 23.3% of its outstanding shares at a weighted average price of $10.14 per share [3]. - The company does not have a history of paying dividends, with the CEO stating that share repurchases are a prudent use of capital, especially as they have been able to repurchase shares at a discount to tangible book value [2]. Financial Position - As of September 30, 2024, Blue Foundry Bancorp had total debt of $358.4 million and cash and cash equivalents of only $76.1 million, raising concerns about the sustainability of its share repurchase activities given its weak liquidity position [4]. Market Performance - Over the past three months, Blue Foundry Bancorp's shares have increased by 8.7%, while the industry has seen a growth of 19.1%. The company currently holds a Zacks Rank of 4 (Sell) [5].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-40619 BLUE FOUNDRY BANCORP (Exact name of the registrant as specified in its charter) Delaware 86-2831373 (State or Other Jurisdiction of Incorporation or Org ...

Start Time: 11:00 January 1, 0000 11:23 AM ET Blue Foundry Bancorp (NASDAQ:BLFY) Q3 2024 Results Conference Call October 23, 2024, 11:00 AM ET Company Participants James Nesci - President and CEO Kelly Pecoraro - EVP and CFO Conference Call Participants Justin Crowley - Piper Sandler Chris O'Connell - KBW Operator Good morning, and welcome to Blue Foundry Bancorp's Third Quarter 2024 Earnings Call. Comments made during today's call may include forward-looking statements, which are based on management's curr ...

Financial Data and Key Metrics Changes - The company reported a quarterly net loss of $4 million, compared to a net loss of $2.3 million in the prior quarter, primarily due to an increase in the provision for credit losses [3][6] - Deposits increased by $7.5 million, while loans grew by $3.6 million, indicating a positive trend in the company's balance sheet [3][4] - Tangible book value per share increased by $0.05 to $14.74, reflecting shareholder value improvement [5] Business Line Data and Key Metrics Changes - The company originated $22 million in commercial lines of credit during the quarter, with unused lines of credit increasing by $12.8 million [6] - Non-performing assets declined by $1.1 million, resulting in a reduction in non-performing assets to total assets by 5 basis points and non-performing loans to total loans by 7 basis points [7] - The yield on loans contracted by 3 basis points to 4.53%, while the cost of funds increased by 10 basis points to 2.99% [8] Market Data and Key Metrics Changes - The company experienced an 11% increase in commercial deposits and a 7% increase in consumer deposits year-to-date [4] - The bank's liquidity position remains strong, with $334 million in untapped borrowing capacity and an additional $300 million in available for sale securities and unrestricted cash [5] Company Strategy and Development Direction - The company is focusing on becoming a more commercially-oriented institution, selectively originating real estate loans while expanding its commercial loan pipeline [4] - Management expressed a positive outlook for sustained loan growth in the coming quarters, driven by a healthy commercial loan pipeline [3] Management Comments on Operating Environment and Future Outlook - Management noted that the recent 50 basis point rate cut by the Federal Reserve is expected to positively impact net interest income [3] - The company anticipates improvements in net interest margin as loans close and deposits reprice lower [6][8] Other Important Information - The company repurchased 522,000 shares at a weighted average price of $10.52 during the quarter, contributing to shareholder value [5] - Operating expenses for the fourth quarter of 2024 are expected to be in the mid to high $13 million range [8] Q&A Session Summary Question: What drove the decrease in NIM for the quarter? - Management indicated that the decrease in loan yields was due to the timing of funding on loan products and re-pricing of deposits in anticipation of the Fed rate cut [11] Question: How does the company plan to lower deposit rates moving forward? - Management is monitoring the competitive rate environment and has recently lowered CD rates, aiming to shift customers back into core products [12] Question: Can you provide details on the consumer loan participation? - The company participated in a consumer loan pool with strong credit enhancements, although specific average FICO scores were not disclosed [13] Question: How is the loan pipeline looking compared to last quarter? - The loan pipeline is stronger than the previous quarter, with a pipeline of just over $60 million at rates around 8.7% [18] Question: What is the strategy regarding the CD portfolio? - Management indicated that the CD portfolio is kept short, with about $300 million set to reprice in the fourth quarter [25]

Blue Foundry Bancorp (BLFY) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.17. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -11.76%. A quarter ago, it was expected that this company would post a loss of $0.19 per share when it actually produced a loss of $0.11, delivering a surprise of 42.11%.Over the last four quarters, the company has su ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Blue Foundry Bancorp Reports Third Quarter 2024 Results RUTHERFORD, NJ, October 23, 2024 — Blue Foundry Bancorp (NASDAQ:BLFY) (the "Company"), the holding company for Blue Foundry Bank (the "Bank"), today reported a net loss of $4.0 million, or $0.19 per diluted common share, for the three months ended September 30, 2024, compared to net loss of $2.3 million, or $0.11 per diluted common share, for the three months ended June 30, 2024, and a net loss of $1.4 million, or $0. ...

Financial Performance - The company recorded a net loss of $2.3 million for the three months ended June 30, 2024, compared to a net loss of $1.8 million for the same period in 2023[93] - Net loss for the six months ended June 30, 2024 was $5.2 million, compared to $3.0 million in the same period in 2023[95] Interest Income and Expense - Interest income increased by $1.5 million (7.7%) to $21.3 million for the three months ended June 30, 2024, driven by higher rates on interest-earning assets[93] - Interest expense rose by $2.9 million to $11.7 million for the three months ended June 30, 2024, primarily due to increased rates on interest-bearing liabilities[93] - Interest income increased by $3.5 million (9.2%) to $42.1 million for the six months ended June 30, 2024, driven by higher rates on interest-earning assets[95] Net Interest Income - Net interest income decreased to $9.6 million for the three months ended June 30, 2024, from $10.9 million in the same period of 2023[93] - Net interest income decreased by $3.9 million to $19.0 million for the six months ended June 30, 2024, with a net interest margin of 1.94%, down 35 basis points[95] Credit Losses and Provisions - The company recorded a $762 thousand release of provision for credit losses for the three months ended June 30, 2024, compared to a $143 thousand provision in 2023[93] - The Allowance for Credit Losses (ACL) on loans as a percentage of total loans was 0.84% as of June 30, 2024[93] Non-Interest Income and Expense - Non-interest income increased by $156 thousand (41.1%) to $536 thousand for the second quarter of 2024[93] - Non-interest expense rose by $247 thousand to $13.2 million for the second quarter of 2024[93] Asset and Liability Management - The yield on average interest-earning assets increased 44 basis points to 4.37% for the three months ended June 30, 2024[93] - The cost of average interest-bearing liabilities increased 76 basis points to 2.94% for the three months ended June 30, 2024[93] - The yield on average interest-earning assets increased by 43 basis points to 4.30% for the six months ended June 30, 2024[95] - The cost of average interest-bearing liabilities increased by 91 basis points to 2.89% for the six months ended June 30, 2024[95] Balance Sheet Changes - Total assets were $2.05 billion at June 30, 2024, compared to $2.04 billion at December 31, 2023[99] - Cash and cash equivalents increased by $14.2 million (31%) to $60.3 million at June 30, 2024[100] - Gross loans held for investment decreased by $13.3 million to $1.55 billion at June 30, 2024[100] - Total deposits increased by $66.3 million (5.3%) to $1.31 billion at June 30, 2024, with time deposits up $74.9 million (12.6%)[103] - Borrowings decreased by $55.0 million (13.8%) to $342.5 million at June 30, 2024, compared to $397.5 million at December 31, 2023[104] Shareholders' Equity and Share Repurchases - Total shareholders' equity decreased by $10.0 million (2.8%) to $345.6 million at June 30, 2024, driven by treasury share repurchases and year-to-date loss[104] - The company repurchased 942,705 shares at a cost of $8.8 million ($9.33 per share) in 2024[104] Interest Rate Hedges and Sensitivity - Interest rate hedges totaled $254.0 million at June 30, 2024, with a weighted average duration of 2.7 years and a weighted average rate of 2.51%[104] - A 100 basis point increase in interest rates would result in a 24% decrease in the economic value of equity (EVE), while a 100 basis point decrease would result in a 24% increase in EVE[109] Loan and Credit Commitments - Loan origination commitments totaled $19.5 million, and unused lines of credit totaled $71.7 million at June 30, 2024[111] - Certificates of deposit maturing in less than one year totaled $655.1 million at June 30, 2024[111] - Available borrowing capacity at June 30, 2024 was $360.5 million with the Federal Home Loan Bank of New York[111] Securities and Regulatory Capital - The estimated fair market value of unencumbered securities totaled $313.3 million (96.1% of the portfolio) at June 30, 2024[111] - The company exceeded all regulatory capital requirements and was considered "well capitalized" at June 30, 2024[113] Non-Performing Loans - Non-performing loans totaled $6.2 million at June 30, 2024, compared to $6.1 million at December 31, 2023[102]

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, August 2: WisdomTree, Inc. (WT) : This financial services company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.9% over the last 60 days. WisdomTree's shares gained 25.7% over the last three months compared with the S&P 500's advanced of 6.2%. The company possesses a Momentum Score of A. Blue Foundry Bancorp (BLFY) : This bank holding company fo ...