BCB Bancorp, Inc. Reports Net Loss of $12.0 Million in Fourth Quarter 2025

Core Insights - BCB Bancorp, Inc. reported a net loss of $12.0 million for Q4 2025, a significant decline from net income of $4.3 million in Q3 2025 and $3.3 million in Q4 2024 [1][14] - The company declared a quarterly cash dividend of $0.08 per share, payable on February 26, 2026 [2][4] - The fourth-quarter results were impacted by a $15.1 million pre-tax write-down on a cannabis-related real estate property and $16.3 million in additional net charge-offs, primarily in the C&I loan portfolio [3][29] Financial Performance - Total assets decreased by $319.7 million, or 8.9%, to $3.279 billion at December 31, 2025, from $3.599 billion at December 31, 2024 [6] - Total deposits were $2.674 billion at December 31, 2025, down from $2.687 billion at September 30, 2025 [7][11] - Net interest margin increased to 3.03% for Q4 2025, compared to 2.88% in Q3 2025 and 2.53% in Q4 2024 [7][17] - The annualized return on average assets was (1.44)% for Q4 2025, compared to 0.50% in Q3 2025 and 0.36% in Q4 2024 [7] - The efficiency ratio for Q4 2025 was 120.0%, significantly higher than 62.6% in the prior quarter [7] Asset Quality - Non-accrual loans totaled $63.3 million, or 2.32% of gross loans, at December 31, 2025, compared to $44.7 million, or 1.48% of gross loans, at December 31, 2024 [30] - The allowance for credit losses was $33.7 million, or 1.24% of gross loans, at December 31, 2025, down from $34.8 million, or 1.15% of gross loans, at December 31, 2024 [30] - The provision for credit losses was $12.2 million in Q4 2025, compared to $4.2 million in Q4 2024 [18][25] Non-Interest Income and Expenses - Non-interest income increased by $1.0 million to $1.9 million for Q4 2025, compared to $938 thousand in Q4 2024 [19] - Non-interest expense rose by $17.0 million, or 118.5%, to $31.4 million for Q4 2025, primarily due to the $15.1 million write-down on the cannabis-related property [20][27] - The income tax provision decreased by $6.7 million, resulting in a tax benefit of $5.4 million for Q4 2025, compared to a provision of $1.3 million in Q4 2024 [21][28]