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Blue Foundry Bancorp - BLFY STOCK NEWS

Welcome to our dedicated news page for Blue Foundry Bancorp (Ticker: BLFY), a resource for investors and traders seeking the latest updates and insights on Blue Foundry Bancorp.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Blue Foundry Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Blue Foundry Bancorp's position in the market.

News
Blue Foundry Bancorp Reports First Quarter 2024 Results
Rhea-AI Summary
Blue Foundry Bancorp reported a net loss of $2.8 million for Q1 2024, compared to $2.9 million in Q4 2023 and $1.2 million in Q1 2023. Deposits increased by $46.3 million, interest income grew by $507 thousand, and net interest margin rose to 1.92%. The Company repurchased 532,052 shares at $9.49 per share, increasing tangible book value to $14.60 per share. Total loans decreased by $6.6 million, with residential and multifamily portfolios down. Deposits reached $1.29 billion, with time deposits up by $45.7 million. Non-interest income was $9.4 million, up $200 thousand from Q4 2023. Non-interest expense increased by $699 thousand due to compensation and benefits expenses. The Company did not record a tax benefit for the losses. Cash and cash equivalents rose to $53.8 million, deposits totaled $1.29 billion, and shareholders' equity decreased to $350.2 million. Asset quality remained stable, with an ACL of 0.88%, a net release of provision for credit losses of $535 thousand, and non-performing loans at 0.43% of total loans.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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Tags
earnings
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News
Blue Foundry Bancorp Schedules First Quarter 2024 Earnings Conference Call
Rhea-AI Summary
Blue Foundry Bancorp (BLFY) will release financial results for the quarter ended March 31, 2024, on April 24, 2024. The Company will hold a conference call for investors and analysts to discuss the First Quarter 2024 Earnings. Participants can pre-register for the webcast or dial-in to listen to the call.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.21%
Tags
earnings
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News
Blue Foundry Bancorp Announces Adoption of Fourth Stock Repurchase Program
Rhea-AI Summary
Blue Foundry Bancorp (BLFY) announced a new stock repurchase program to buy back up to 1,203,545 shares, approximately 5% of its outstanding common stock. This is the fourth program since its mutual-to-stock conversion in July 2021. The company has repurchased 5,409,022 shares since its first program. The new program will start after completing the third one. The repurchase can be done through various methods based on market conditions and the company's financial performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.89%
Tags
buyback
News
Blue Foundry Bancorp Reports Fourth Quarter and Year-End 2023 Results
Rhea-AI Summary
Blue Foundry Bancorp (NASDAQ:BLFY) reported a net loss of $7.4 million for the year ended December 31, 2023, compared to net income of $2.4 million for the year ended December 31, 2022. The company's net loss for the three months ended December 31, 2023, was $2.9 million compared to a net loss of $1.4 million for the three months ended September 30, 2023. The President and CEO commented on the challenging year for banks due to rate hikes and large bank failures, but highlighted the strong capital levels and credit quality. The company's lending franchise saw growth in higher-yielding commercial loans, while the retail franchise experienced a decrease in total deposits. The financial performance showed a decrease in net interest income and an increase in non-interest income. The company's balance sheet saw an increase in gross loans and FHLB borrowings, while shareholders' equity decreased due to share repurchases.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.83%
Tags
none
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News
Blue Foundry Bancorp Schedules Fourth Quarter & Year-End 2023 Earnings Conference Call
Rhea-AI Summary
Blue Foundry Bancorp (BLFY) to Release Q4 and Year-End 2023 Financial Results on January 24, 2024
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.71%
Tags
earnings
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News
Blue Foundry Bancorp Reports Third Quarter 2023 Results
Rhea-AI Summary
Blue Foundry Bancorp reports a net loss of $1.4 million for Q3 2023, compared to a net loss of $1.8 million in Q2 2023. Net interest income decreased, while non-interest expense decreased by 4.4%. The Company executed $50 million of hedges on interest rates. Total loans increased by $25.9 million. Deposits decreased by $35.8 million. Cash and cash equivalents increased by $11.2 million. Securities available-for-sale decreased by $30.6 million. Uninsured deposits to third-party customers totaled 10% of total deposits.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.57%
Tags
earnings
News
Blue Foundry Bancorp Schedules Third Quarter 2023 Earnings Conference Call
Rhea-AI Summary
Blue Foundry Bancorp to release Q3 2023 financial results
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.49%
Tags
earnings
-
News
Blue Foundry Bancorp Announces Adoption of Third Stock Repurchase Program
Rhea-AI Summary
Blue Foundry Bancorp has announced a program to repurchase up to 1,268,382 shares of its common stock, which is approximately 5% of its outstanding common stock. This is the company's third stock repurchase program since its mutual-to-stock conversion in July 2021. The previous programs allowed for the repurchase of 4,187,376 shares. The timing and amount of repurchases will depend on various factors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.03%
Tags
buyback
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News
Blue Foundry Bancorp Reports Second Quarter 2023 Results
Rhea-AI Summary
Blue Foundry Bancorp reports a net loss of $1.8 million for Q2 2023. Deposits increased by $22.7 million. Non-interest expense decreased by $689 thousand. Interest income increased by $933 thousand. Net interest margin decreased by 25 basis points. Tangible book value per share was $14.35. Total loans increased by $36.6 million. Deposits increased by $22.7 million. Net interest income decreased by $2.3 million. Non-interest expense increased by $112 thousand.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.49%
Tags
earnings
News
Blue Foundry Bancorp Schedules Second Quarter 2023 Earnings Conference Call
Rhea-AI Summary
Blue Foundry Bancorp (NASDAQ: BLFY) will release financial results for Q2 and six months ended June 30, 2023 on July 26, 2023. A conference call will be held at 11:00AM (ET) on the same day for investors and analysts. Webcast pre-registration link: https://events.q4inc.com/attendee/238875048
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.01%
Tags
earnings
Stock BLFY logo
Blue Foundry Bancorp

Nasdaq:BLFY

BLFY Rankings

#3716 Ranked by Market Cap
#4225 Ranked by Stock Gains
N/A Ranked by Dividends

BLFY Stock Data

189.53M
19.00M
14.08%
50.87%
2.36%
Savings Institutions
Finance and Insurance
Link
United States
Rutherford

About BLFY

blue foundry is a place where things are made, a bank that gets things done. where purpose is formed, ideas are crafted, businesses are shaped, and dreams are melded. it’s grit and heart. mettle and style. blue foundry is revolutionary, bold, resourceful, roll-up-your-sleeves committed, smart, creative and fun. a bank for the movers, shakers and makers. with raw materials, blue foundry builds solutions, solves challenges and defies boundaries. works all day and stays up all night. a new kind of bank.