Steven E. Gallotta is identified as a director of BCB Bancorp, Inc. (BCBP) in an ownership report.
BCB Bancorp, Inc. asks shareholders to approve reincorporation from New Jersey to Delaware through a merger into a newly formed Delaware corporation. If shareholders approve and any required regulatory non-objection is received, each outstanding common or preferred share would convert into one corresponding Delaware share; preferred rights would be identical in all material respects. Approval requires a majority of all votes entitled to be cast by common shareholders. The virtual special meeting is November 18, 2026.
The proposed documents would replace the three-year classified board with annual director elections, eliminate shareholder action by written consent and reserve board vacancies to directors. Specified business combinations would require 80% of outstanding voting stock plus 50% of stock not beneficially owned by the interested stockholder, subject to stated exceptions. Authorized common shares would increase from 40 million to 80 million, while authorized preferred shares remain 10 million. The company had 30,751,822 common shares outstanding as of October 1, 2026; it says the reincorporation would not change shareholders’ share counts or ownership percentages.
BCB Bancorp, Inc. appointed Steven E. Gallotta and Denny Kim to the boards of the company and BCB Community Bank on October 7, 2026, and named Patricia M. Schaubeck Executive Vice President, Chief Legal Officer and Corporate Secretary of both entities as part of a legal-department and C-suite reorganization. Gallotta will serve on the Audit Committee, and Kim on the Nominating and Corporate Governance Committee. The board determined both directors are independent under company and Nasdaq standards.
Each director will serve until the 2027 annual meeting and until a successor is elected and qualified, or until earlier resignation, retirement or other termination of service. Schaubeck will receive an annual base salary of $444,600. Gallotta brings over 35 years of financial reporting and assurance experience; Kim brings over 20 years of financial experience.
BCB Bancorp Inc. (BCBP) is the subject of a Schedule 13G reporting that Financial Opportunity Fund LLC holds 1,616,132 common shares, equal to 5.26% of the class. The fund reports shared voting and dispositive power over those shares.
FJ Capital Management LLC, the fund’s managing member, and Martin Friedman, FJ Capital Management’s Managing Member, each report the same position through shared voting and dispositive power. FJ Capital Management and Friedman state they may be deemed beneficial owners but disclaim beneficial ownership. These entries relate to the same fund-held shares.
BCB Bancorp, Inc. (BCBP), the holding company for BCB Community Bank, said the Bank entered definitive agreements with six purchasers between September 21 and September 24, 2026, to sell problem-loan portfolios with approximately $205.3 million in unpaid principal balance as of June 30, 2026. The portfolios comprise commercial and multifamily real estate loans with approximately $180.7 million, commercial and industrial loans with approximately $14.8 million, and construction loans with approximately $9.8 million in unpaid principal balance, each as of June 30, 2026. Most loans were rated criticized or classified under the Bank’s internal risk rating system; business express loans are excluded.
The estimated pre-tax loss attributable to the sales is $43.3 million, to be recorded in the third quarter of 2026. Five of six transactions have closed; the last is expected to close before the end of the third quarter of 2026. Each agreement is independent, and closing any one was not conditioned on closing another.
BCB BANCORP INC (BCBP) director and chief executive officer Thomas M. O'Brien purchased 160,000 shares of common stock on September 18, 2026 in an underwritten public offering at the public offering price of $7.75 per share. Following this purchase, he directly holds 869,220 shares of BCB Bancorp common stock. No Rule 10b5-1 trading plan is reported for this transaction.
BCB BANCORP INC (BCBP) reports that its Chief Financial Officer, Jawad Chaudhry, purchased 10,000 shares of Common Stock on September 18, 2026 in an underwritten public offering at the public offering price of $7.75 per share. Following this transaction, he holds 62,500 shares directly, and no Rule 10b5-1 trading plan is reported.
BCB Bancorp, Inc. (BCBP) completed an underwritten public offering of 12,650,000 shares of common stock, including the full exercise of the underwriter’s over-allotment option, at a public offering price of $7.75 per share. Piper Sandler & Co. acted as sole book-running manager under an Underwriting Agreement with customary terms and indemnification.
The Company received aggregate net proceeds of approximately $92,445,438 after underwriting discounts, commissions and estimated expenses, based on initial issuance of 11,000,000 shares and an additional 1,650,000 shares from the over-allotment option. BCB Bancorp intends to use the net proceeds for general corporate purposes, maintaining liquidity and capital levels, supporting Bank capital in connection with expected disposition of potential problem loans, and reducing debt.