Blue Foundry Bancorp(BLFY) - 2024 Q1 - Earnings Call Transcript

Company Participants During the quarter, we grew deposits by $46 million. This growth was driven by the execution of our strategic initiatives and resulted in a reduction in our loan-to-deposit ratio by 500 basis points. Continued deposit growth will allow us to generate interest earning assets and expand revenue while maintaining an appropriate amount of leverage. Given our strategy to become a more commercially oriented institution, we have been selected in originating real estate loans while building our ...