BCB Bancorp (NASDAQ: BCBP) posts $4.9M Q1 profit and $0.08 dividend
Rhea-AI Filing Summary
BCB Bancorp, Inc. returned to profitability in the first quarter of 2026, earning net income of $4.9 million, or $0.26 per diluted share. This compares to a net loss of $12.0 million in the prior quarter and a net loss of $8.3 million a year earlier.
Total assets were $3.27 billion at March 31, 2026, with loans receivable, net, of $2.66 billion and deposits of $2.67 billion. The net interest margin improved to 2.95%, while the provision for credit losses fell sharply to $2.8 million from $20.8 million in the first quarter of 2025. Non-accrual loans declined to $59.8 million, or 2.22% of gross loans, and the allowance for credit losses covered 54.5% of non-accruals.
The Board declared a regular quarterly cash dividend of $0.08 per share, payable on May 20, 2026 to shareholders of record on May 6, 2026. Return on average assets was 0.61% and return on average stockholders’ equity was 6.50% for the quarter.
Positive
- Return to profitability: Net income of $4.9 million in Q1 2026 versus losses of $12.0 million in Q4 2025 and $8.3 million in Q1 2025, with diluted EPS at $0.26.
- Improving credit costs and asset quality: Provision for credit losses reduced to $2.8 million from $20.8 million a year earlier, while non-accrual loans declined to $59.8 million (2.22% of gross loans) and allowance coverage increased to 54.5% of non-accruals.
Negative
- Elevated problem loans remain: Despite improvement, non-accrual loans of $59.8 million, or 2.22% of gross loans, and quarterly net charge-offs of $3.9 million indicate ongoing credit risk in the loan portfolio.
Insights
BCB Bancorp swings back to profit as credit costs ease and margin improves.
BCB Bancorp reported net income of $4.9 million in Q1 2026 after losses in both Q4 2025 and Q1 2025. The key driver was a much lower provision for credit losses of $2.8 million versus $20.8 million a year earlier, while net interest income grew modestly year over year.
Asset quality trends are improving but still important. Non-accrual loans fell to $59.8 million, or 2.22% of gross loans, from 3.36% a year earlier, and the allowance for credit losses covered 54.5% of non-accruals. Net charge-offs were $3.9 million, slightly better than the prior year’s $4.2 million.
Profitability metrics also strengthened, with net interest margin rising to 2.95% from 2.59% and returns improving to 0.61% ROA and 6.50% ROE. The Board’s $0.08-per-share quarterly dividend, alongside stockholders’ equity of $307.4 million, signals a continued commitment to shareholder returns based on the current earnings profile.
8-K Event Classification
Key Figures
Key Terms
net interest margin financial
provision for credit losses financial
non-accrual loans financial
efficiency ratio financial
Earnings Snapshot
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02. | Results of Operations and Financial Condition. |
On April 21, 2026, BCB Bancorp, Inc. (the “Company”), the holding company for BCB Community Bank, issued a press release (the “Press Release”) reporting the Company’s financial results at and for the quarter ended March 31, 2026. A copy of the Press Release and the accompanying financial statements are attached hereto as Exhibit 99.1 and are incorporated by reference into this Item 2.02.
The information provided in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
| Item 8.01. | Other Events. |
The Press Release also announced that the Company’s board of directors declared an $0.08 per share regular quarterly cash dividend. The dividend is payable on May 20, 2026 to common shareholders of record at the close of business on May 6, 2026.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
The following Exhibits are attached as part of this report.
| Exhibit Number |
Description | |
| 99.1 | Press Release, dated April 21, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BCB BANCORP, INC. | ||||||
| DATE: April 22, 2026 | By: | /s/ Jawad Chaudhry | ||||
| Jawad Chaudhry | ||||||
| Executive Vice President and Chief Financial Officer | ||||||
| (Duly Authorized Representative) | ||||||
3
Exhibit 99.1
| CONTACT: | MICHAEL SHRINER, | |||||
| PRESIDENT & CEO | ||||||
| JAWAD CHAUDHRY, | ||||||
|
EVP, CFO & TREASURER (201) 823-0700 | |||||
|
BCB Bancorp, Inc. Earns $4.9 Million in First Quarter 2026
Reports $0.26 EPS and
Declares Quarterly Cash Dividend of $0.08 Per Share
BAYONNE, N.J., April 21, 2026 — BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding company for BCB Community Bank (the “Bank”), today reported net income of $4.9 million for the first quarter of 2026, compared to a net loss of $12.0 million in the fourth quarter of 2025, and a net loss of $8.3 million for the first quarter of 2025. The Company’s earnings per diluted share for the first quarter were $0.26 compared to a loss per diluted share of ($0.73) in the preceding quarter and a loss per diluted share of ($0.51) in the first quarter of 2025.
The Company also announced that its Board of Directors has declared a regular quarterly cash dividend of $0.08 per share. The dividend will be payable on May 20, 2026, to common shareholders of record on May 6, 2026.
“We are pleased to report a profitable first quarter, reflecting steady financial momentum and continued improvement across our core performance metrics. Our capital and liquidity positions remain strong, and the credit headwinds experienced in 2025 have moderated, consistent with our expectations. Following the stabilization of these trends, we have resumed lending activity and anticipate loan originations will continue to build momentum as the year progresses,” said Michael Shriner, President and Chief Executive Officer of BCB Bank.
Executive Summary
| • | Total deposits were $2.672 billion at March 31, 2026, compared to $2.674 billion at December 31, 2025. |
| • | Net interest margin was 2.95 percent for the first quarter of 2026, compared to 3.03 percent for the fourth quarter of 2025, and 2.59 percent for the first quarter of 2025. |
| • | The total yield on our interest-earning assets was 5.21 percent for the first quarter of 2026, compared to 5.32 percent for the fourth quarter of 2025, and 5.20 percent for the first quarter of 2025. |
| • | The total cost of our interest-bearing liabilities decreased 5 basis points to 2.93 percent for the first quarter of 2026, compared to 2.98 percent for the fourth quarter of 2025, and decreased 40 basis points from 3.33 percent for the first quarter of 2025. |
| • | The efficiency ratio for the first quarter 2026 was 62.4 percent compared to 120.0 percent in the prior quarter, and 61.6 percent in the first quarter of 2025. |
| • | The annualized return on average assets ratio for the first quarter of 2026 was 0.61 percent, compared to (1.44) percent in the prior quarter, and (0.95) percent in the first quarter of 2025. |
| • | The annualized return on average equity ratio for the first quarter of 2026 was 6.5 percent, compared to (15.0) percent in the prior quarter, and (10.4) percent in the first quarter of 2025. |
| • | The allowance for credit losses (“ACL”) as a percentage of non-accrual loans was 54.5 percent at March 31, 2026, compared to 53.3 percent at the prior quarter-end. Total non-accrual loans were $59.8 million at March 31, 2026, compared to $63.3 million at December 31, 2025, $93.5 million at September 30, 2025 and $101.8 million at June 30, 2025. |
| • | The provision for credit losses was $2.8 million in the first quarter of 2026 compared to $12.2 million for the fourth quarter of 2025. In the first quarter of 2025, the Bank recorded a provision for credit losses of $20.8 million. |
| • | Total loans receivable, net of the allowance for credit losses, of $2.656 billion at March 31, 2026, decreased 1.3 percent from $2.691 billion at December 31, 2025, and decreased 9.0 percent from $2.918 billion at March 31, 2025. |
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 2
Balance Sheet Review
Total assets decreased by $10.4 million, or 0.3 percent, to $3.269 billion at March 31, 2026, from $3.280 billion at December 31, 2025. This decrease is the result of fewer net loans, offset by an increase in cash and cash equivalents.
Total cash and cash equivalents increased by $17.2 million, or 6.2 percent, to $293.7 million at March 31, 2026, from $276.6 million at December 31, 2025. The increase in cash was primarily due to loan cash flows.
Loans receivable, net, decreased by $35.1 million, or 1.3 percent, to $2.656 billion at March 31, 2026, from $2.691 billion at December 31, 2025, due to loan payoffs, paydowns and charge-offs. Total loan decreases during the period included decreases of $19.3 million in commercial real estate and multi-family loans, $12.1 in commercial business loans and $4.6 million in 1-4 family residential loans and home equity loans. The allowance for credit losses decreased $1.1 million to $32.6 million, or 54.5 percent of non-accruing loans and 1.21 percent of gross loans, at March 31, 2026, as compared to an allowance for credit losses of $33.7 million, or 53.3 percent of non-accruing loans and 1.24 percent of gross loans, at December 31, 2025.
Total investments increased by $7.5 million, or 5.6 percent, to $143.1 million at March 31, 2026, from $135.6 million at December 31, 2025, representing current year purchases, net of maturity and paydowns during 2026.
Deposits decreased by $1.1 million, or 0.04 percent, to $2.672 billion at March 31, 2026, from $2.674 billion at December 31, 2025. Certificates of deposit, non-interest bearing accounts and savings and club accounts decreased $33.7 million, and were offset by increases in money market accounts and interest bearing deposit accounts which totaled $32.6 million.
Debt obligations decreased by $9.9 million to $268.3 million at March 31, 2026, from $278.2 million at December 31, 2025, due to maturities of our FHLB advances. The weighted average interest rate of FHLB advances was 4.70 percent at March 31, 2026, and 4.53 percent at December 31, 2025. The weighted average maturity of FHLB advances as of March 31, 2026 was 0.23 years. The interest rate of our subordinated debt balances was 9.25 percent at March 31, 2026 and December 31, 2025.
Stockholders’ equity increased by $3.1 million, or 1.0 percent, to $307.4 million at March 31, 2026, from $304.3 million at December 31, 2025. The increase was attributable to retained earnings, which increased $3.0 million.
First Quarter 2026 Income Statement Review
The Company reported net income of $4.9 million for the quarter ended March 31, 2026, compared to a net loss of $8.3 million for the quarter ended March 31, 2025. This increase was due to the Bank recording $18.1 million less in loan loss provisioning, offset by the Bank recording $5.1 million more in income taxes.
Interest income decreased by $3.8 million, or 8.6 percent, to $40.4 million for the first quarter of 2026 from $44.2 million for the first quarter of 2025. The average balance of interest-earning assets decreased $299.2 million, or 8.7 percent, to $3.144 billion for the first quarter of 2026 from $3.444 billion for the first quarter of 2025. The average yield increased 1 basis point to 5.21 percent for the first quarter of 2026 from 5.20 percent for the first quarter of 2025.
Interest expense decreased by $4.6 million to $17.6 million for the first quarter of 2026 from $22.2 million for the first quarter of 2025. The decrease resulted from a decrease in the average rate paid on interest-bearing liabilities of 40 basis points to 2.93 percent for the first quarter of 2026 from 3.33 percent for the first quarter of 2025, while the average balance of interest-bearing liabilities decreased by $267.6 million to $2.434 billion in the first quarter of 2026 from $2.702 billion in the first quarter of 2025.
The net interest margin increased to 2.95 percent for the first quarter of 2026 compared to 2.59 percent for the first quarter of 2025. The increase in the net interest margin compared to the first quarter of 2025 was the result of a decrease in the cost of interest-bearing liabilities, and an increase in the yield on interest-earning assets.
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 3
During the first quarter of 2026, the Company recognized $3.9 million in net charge-offs compared to $4.2 million in net charge-offs in the first quarter of 2025. The Bank had non-accrual loans totaling $59.8 million, or 2.22 percent of gross loans, at March 31, 2026, as compared to $63.3 million, or 2.32 percent of gross loans, at December 31, 2025. The allowance for credit losses on loans was $32.6 million, or 1.21 percent of gross loans, at March 31, 2026, and $33.7 million, or 1.24 percent of gross loans, at December 31, 2025. The provision for credit losses was $2.8 million for the first quarter of 2026 compared to $12.2 million for the fourth quarter of 2025 and $20.8 million for the first quarter of 2025. Management believes that the allowance for credit losses on loans was adequate at March 31, 2026 and December 31, 2025.
Non-interest income increased by $310 thousand to $2.1 million for the first quarter of 2026 from $1.8 million in the first quarter of 2025. The increase in total non-interest income was mainly related to a $338 thousand increase in BOLI income and a decrease in our realized and unrealized loss on equity investments of $22 thousand. Offsetting this was a decrease in other non-interest income of $75 thousand.
Non-interest expense increased by $891 thousand, or 6.1 percent, to $15.6 million for the first quarter of 2026 compared to non-interest expense of $14.7 million for the first quarter of 2025. The increase in these expenses for the first quarter of 2026 was primarily driven by salaries and employee benefits, data processing costs and OREO expenses, which rose $924 thousand, $179 thousand and $150 thousand, respectively. Offsetting this was a decline in other non-interest expense and director fees of $203 thousand and $172 thousand, respectively.
The income tax provision increased by $5.1 million, to an income tax expense of $1.7 million for the first quarter of 2026 when compared to a income tax benefit of $3.4 million for the first quarter of 2025.
Asset Quality
During the first quarter of 2026, the Company recognized $3.9 million in net charge offs, compared to $4.2 million in net charge-offs for the first quarter of 2025.
The Company had non-accrual loans totaling $59.8 million, or 2.22 percent of gross loans, at March 31, 2026, as compared to $99.8 million, or 3.36 percent of gross loans, at March 31, 2025. The allowance for credit losses was $32.6 million, or 1.21 percent of gross loans, at March 31, 2026, and $51.5 million, or 1.73 percent of gross loans, at March 31, 2025. The allowance for credit losses was 54.5 percent of non-accrual loans at March 31 2026, and 51.6 percent of non-accrual loans at March 31, 2025.
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 4
About BCB Bancorp, Inc.
Established in 2000 and headquartered in Bayonne, N.J., BCB Community Bank is the wholly-owned subsidiary of BCB Bancorp, Inc. (NASDAQ: BCBP). The Bank has twenty-three branch offices in Bayonne, Edison, Hoboken, Fairfield, Holmdel, Jersey City, Lyndhurst, Maplewood, Monroe Township, Newark, Parsippany, Plainsboro, River Edge, Rutherford, South Orange, Union, and Woodbridge, New Jersey, and four branches in Hicksville and Staten Island, New York. The Bank provides businesses and individuals a wide range of loans, deposit products, and retail and commercial banking services. For more information, please go to www.bcb.bank.
Forward-Looking Statements
This release, like many written and oral communications presented by BCB Bancorp, Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “could,” “may,” “should,” “will,” “would,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results.
The most significant factors that could cause future results to differ materially from those anticipated by our forward-looking statements include the global impact of the military conflicts in the Ukraine and the Middle East, the potential impact of any future Federal budget stalemate in Congress, global tariffs imposed by the Trump administration, higher inflation levels, and general economic concerns, all of which could impact economic growth and could cause increased loan delinquencies, a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations. Other factors that could cause future results to vary materially from current management expectations as reflected in our forward-looking statements include, but are not limited to: our ability to manage liquidity and capital in a rapidly changing and unpredictable market, supply chain disruptions, labor shortages; unfavorable economic conditions in the United States generally and particularly in our primary market area; the Company’s ability to effectively attract and deploy deposits; changes in the Company’s corporate strategies, the composition of its assets, or the way in which it funds those assets; shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including changes in market liquidity or volatility; the effects of declines in real estate values that may adversely impact the collateral underlying our loans; increase in unemployment levels and slowdowns in economic growth; our level of non-performing assets and the costs associated with resolving any problem loans including litigation and other costs; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of our loan and investment securities portfolios; the credit risk associated with our loan portfolio; changes in the quality and composition of the Bank’s loan and investment portfolios; changes in our ability to access cost-effective funding; deposit flows; legislative and regulatory changes, including increases in Federal Deposit Insurance Corporation, or FDIC, insurance rates; monetary and fiscal policies of the federal and state governments; changes in tax policies, rates and regulations of federal, state and local tax authorities; demands for our loan products; demand for financial services; competition; changes in the securities or secondary mortgage markets; changes in management’s business strategies; changes in consumer spending; our ability to hire and retain key employees; the effects of any reputational, credit, interest rate, market, operational, legal, liquidity, or regulatory risk; expanding regulatory requirements which could adversely affect operating results; civil unrest in the communities that we serve; and other factors discussed elsewhere in this report, and in other reports we filed with the SEC, including under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K filed for the year ended December 31, 2025, and our other periodic reports that we file with the SEC.
Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 5
Explanation of Non-GAAP Financial Measures
Reported amounts are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This press release also contains certain supplemental Non-GAAP information that the Company’s management uses in its analysis of the Company’s financial results. The Company’s management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company’s financial results for the periods in question.
The Company provides measurements and ratios based on tangible stockholders’ equity and efficiency ratios. These measures are utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, the Company’s management believes that such information is useful to investors. For a reconciliation of GAAP to Non-GAAP financial measures included in this press release, see “Reconciliation of GAAP to Non-GAAP Financial Measures” below.
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 6
| Statements of Operations - Three Months Ended, | ||||||||||||||||||||
| March 31, 2026 | December 31, 2025 | March 31, 2025 | March 31, 2026 vs. December 31, 2025 |
March 31, 2026 vs. March 31, 2025 |
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| (In thousands, except per share amounts, Unaudited) | ||||||||||||||||||||
| Interest and dividend income: |
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| Loans, including fees |
$ | 35,878 | $ | 38,344 | $ | 38,927 | -6.4 | % | -7.8 | % | ||||||||||
| Mortgage-backed securities |
839 | 772 | 561 | 8.7 | % | 49.6 | % | |||||||||||||
| Other investment securities |
990 | 914 | 968 | 8.3 | % | 2.3 | % | |||||||||||||
| FHLB stock and other interest-earning assets |
2,695 | 2,514 | 3,736 | 7.2 | % | -27.9 | % | |||||||||||||
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| Total interest and dividend income |
40,402 | 42,544 | 44,192 | -5.0 | % | -8.6 | % | |||||||||||||
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| Interest expense: |
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| Deposits: | ||||||||||||||||||||
| Demand |
5,170 | 5,196 | 5,418 | -0.5 | % | -4.6 | % | |||||||||||||
| Savings and club |
136 | 213 | 151 | -36.2 | % | -9.9 | % | |||||||||||||
| Certificates of deposit |
8,592 | 9,125 | 10,762 | -5.8 | % | -20.2 | % | |||||||||||||
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| 13,898 | 14,534 | 16,331 | -4.4 | % | -14.9 | % | ||||||||||||||
| Borrowings |
3,667 | 3,787 | 5,856 | -3.2 | % | -37.4 | % | |||||||||||||
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| Total interest expense |
17,565 | 18,321 | 22,187 | -4.1 | % | -20.8 | % | |||||||||||||
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| Net interest income |
22,837 | 24,223 | 22,005 | -5.7 | % | 3.8 | % | |||||||||||||
| Provision for credit losses |
2,788 | 12,195 | 20,845 | -77.1 | % | -86.6 | % | |||||||||||||
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| Net interest income after provision for credit losses |
20,049 | 12,028 | 1,160 | 66.7 | % | 1628.4 | % | |||||||||||||
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| Non-interest income income: |
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| Fees and service charges |
1,191 | 1,173 | 1,173 | 1.5 | % | 1.5 | % | |||||||||||||
| Gain on sales of loans |
7 | 8 | — | -12.5 | % | — | ||||||||||||||
| Realized and unrealized loss on equity investments |
(93 | ) | (427 | ) | (115 | ) | -78.2 | % | -19.1 | % | ||||||||||
| Bank-owned life insurance (“BOLI”) income |
946 | 1,001 | 608 | -5.5 | % | 55.6 | % | |||||||||||||
| Other |
50 | 188 | 125 | -73.4 | % | -60.0 | % | |||||||||||||
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| Total non-interest income |
2,101 | 1,943 | 1,791 | 8.1 | % | 17.3 | % | |||||||||||||
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| Non-interest expense: |
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| Salaries and employee benefits |
8,327 | 7,960 | 7,403 | 4.6 | % | 12.5 | % | |||||||||||||
| Occupancy and equipment |
2,724 | 2,617 | 2,723 | 4.1 | % | 0.0 | % | |||||||||||||
| Data processing and communications |
2,023 | 1,982 | 1,844 | 2.1 | % | 9.7 | % | |||||||||||||
| Professional fees |
627 | 834 | 692 | -24.8 | % | -9.4 | % | |||||||||||||
| Director fees |
246 | 315 | 418 | -21.9 | % | -41.1 | % | |||||||||||||
| Regulatory assessment fees |
765 | 790 | 709 | -3.2 | % | 7.9 | % | |||||||||||||
| Advertising and promotions |
200 | 446 | 179 | -55.2 | % | 11.7 | % | |||||||||||||
| Other real estate owned, net |
150 | 15,077 | — | 0.0 | % | — | ||||||||||||||
| Other |
489 | 1,364 | 692 | -64.1 | % | -29.3 | % | |||||||||||||
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| Total non-interest expense |
15,551 | 31,385 | 14,660 | -50.5 | % | 6.1 | % | |||||||||||||
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| Income (Loss) before income tax (benefit) provision |
6,599 | (17,414 | ) | (11,709 | ) | -137.9 | % | -156.4 | % | |||||||||||
| Income tax (benefit) provision |
1,695 | (5,385 | ) | (3,385 | ) | -131.5 | % | -150.1 | % | |||||||||||
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| Net Income (Loss) |
4,904 | (12,029 | ) | (8,324 | ) | -140.8 | % | -158.9 | % | |||||||||||
| Preferred stock dividends |
482 | 482 | 482 | — | — | |||||||||||||||
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| Net Income (Loss) available to common stockholders |
$ | 4,422 | $ | (12,511 | ) | $ | (8,806 | ) | -135.3 | % | -150.2 | % | ||||||||
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| Net Income (Loss) per common share-basic and diluted |
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| Basic |
$ | 0.26 | $ | (0.73 | ) | $ | (0.51 | ) | -135.2 | % | -149.6 | % | ||||||||
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| Diluted |
$ | 0.26 | $ | (0.73 | ) | $ | (0.51 | ) | -135.2 | % | -149.6 | % | ||||||||
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|
|
|||||||||||||||
| Weighted average number of common shares outstanding |
||||||||||||||||||||
| Basic |
17,314 | 17,249 | 17,113 | 0.4 | % | 1.2 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Diluted |
17,314 | 17,249 | 17,113 | 0.4 | % | 1.2 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 7
| Statements of Financial Condition |
March 31, 2026 | December 31, 2025 | March 31, 2025 | March 31, 2026 vs. December 31, 2025 |
March 31, 2026 vs. March 31, 2025 |
|||||||||||||||
| (In Thousands, Unaudited) | ||||||||||||||||||||
| ASSETS |
||||||||||||||||||||
| Cash and amounts due from depository institutions |
$ | 12,619 | $ | 13,794 | $ | 11,977 | -8.5 | % | 5.4 | % | ||||||||||
| Interest-earning deposits |
281,118 | 262,790 | 240,773 | 7.0 | % | 16.8 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Total cash and cash equivalents |
293,737 | 276,584 | 252,750 | 6.2 | % | 16.2 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Interest-earning time deposits |
735 | 735 | 735 | — | — | |||||||||||||||
| Debt securities available for sale |
134,013 | 126,395 | 116,496 | 6.0 | % | 15.0 | % | |||||||||||||
| Equity investments |
9,079 | 9,172 | 9,357 | -1.0 | % | -3.0 | % | |||||||||||||
| Loans receivable, net of allowance for credit losses on loans of $32,578, $33,691, and $51,484 respectively |
2,655,981 | 2,691,091 | 2,917,610 | -1.3 | % | -9.0 | % | |||||||||||||
| Federal Home Loan Bank of New York (“FHLB”) stock, at cost |
13,757 | 14,176 | 22,066 | -3.0 | % | -37.7 | % | |||||||||||||
| Premises and equipment, net |
11,915 | 12,056 | 12,474 | -1.2 | % | -4.5 | % | |||||||||||||
| Accrued interest receivable |
15,259 | 13,834 | 16,354 | 10.3 | % | -6.7 | % | |||||||||||||
| Other real estate owned |
5,000 | 5,000 | — | — | — | |||||||||||||||
| Deferred income taxes |
22,322 | 22,209 | 22,814 | 0.5 | % | -2.2 | % | |||||||||||||
| Goodwill |
5,253 | 5,253 | 5,253 | — | — | |||||||||||||||
| Operating lease right-of-use asset |
10,889 | 10,660 | 12,622 | 2.1 | % | -13.7 | % | |||||||||||||
| Bank-owned life insurance (“BOLI”) |
80,312 | 79,366 | 76,648 | 1.2 | % | 4.8 | % | |||||||||||||
| Other assets |
10,845 | 12,935 | 8,643 | -16.2 | % | 25.5 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Total Assets |
$ | 3,269,097 | $ | 3,279,466 | $ | 3,473,822 | -0.3 | % | -5.9 | % | ||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|||||||||||||||||||
| LIABILITIES |
||||||||||||||||||||
| Non-interest bearing deposits |
$ | 521,316 | $ | 531,140 | $ | 542,621 | -1.8 | % | -3.9 | % | ||||||||||
| Interest bearing deposits |
2,151,113 | 2,142,433 | 2,143,887 | 0.4 | % | 0.3 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Total deposits |
2,672,429 | 2,673,573 | 2,686,508 | — | -0.5 | % | ||||||||||||||
| FHLB advances |
225,000 | 235,000 | 405,499 | -4.3 | % | -44.5 | % | |||||||||||||
| Subordinated debentures |
43,272 | 43,210 | 43,024 | 0.1 | % | 0.6 | % | |||||||||||||
| Operating lease liability |
11,365 | 11,140 | 13,087 | 2.0 | % | -13.2 | % | |||||||||||||
| Other liabilities |
9,651 | 12,259 | 10,982 | -21.3 | % | -12.1 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Total Liabilities |
2,961,717 | 2,975,182 | 3,159,100 | -0.5 | % | -6.2 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| STOCKHOLDERS’ EQUITY |
||||||||||||||||||||
| Preferred stock: $0.01 par value, 10,000 shares authorized |
— | — | — | — | — | |||||||||||||||
| Additional paid-in capital preferred stock |
25,243 | 25,243 | 25,243 | — | — | |||||||||||||||
| Common stock: no par value, 40,000 shares authorized |
— | — | — | — | — | |||||||||||||||
| Additional paid-in capital common stock |
203,876 | 203,429 | 201,804 | 0.2 | % | 1.0 | % | |||||||||||||
| Retained earnings |
119,412 | 116,415 | 130,291 | 2.6 | % | -8.3 | % | |||||||||||||
| Accumulated other comprehensive loss |
(2,804 | ) | (2,456 | ) | (4,269 | ) | 14.2 | % | -34.3 | % | ||||||||||
| Treasury stock, at cost |
(38,347 | ) | (38,347 | ) | (38,347 | ) | — | — | ||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Total Stockholders’ Equity |
307,380 | 304,284 | 314,722 | 1.0 | % | -2.3 | % | |||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Total Liabilities and Stockholders’ Equity |
$ | 3,269,097 | $ | 3,279,466 | $ | 3,473,822 | -0.3 | % | -5.9 | % | ||||||||||
|
|
|
|
|
|
|
|||||||||||||||
| Outstanding common shares |
17,359 | 17,274 | 17,163 | |||||||||||||||||
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 8
| Three Months Ended March 31, | ||||||||||||||||||||||||
| 2026 | 2025 | |||||||||||||||||||||||
| Average Balance | Interest Earned/Paid | Average Yield/Rate (3) | Average Balance | Interest Earned/Paid | Average Yield/Rate (3) | |||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||
| Interest-earning assets: |
||||||||||||||||||||||||
| Loans Receivable (4)(5) |
$ | 2,708,511 | $ | 35,878 | 5.37 | % | $ | 2,994,529 | $ | 38,927 | 5.27 | % | ||||||||||||
| Investment Securities |
137,146 | 1,829 | 5.33 | % | 117,205 | 1,529 | 5.22 | % | ||||||||||||||||
| Other Interest-earning assets (6) |
298,670 | 2,695 | 3.66 | % | 331,808 | 3,736 | 4.57 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total Interest-earning assets |
3,144,327 | 40,402 | 5.21 | % | 3,443,542 | 44,192 | 5.20 | % | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Non-interest-earning assets |
136,210 | 125,974 | ||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Total assets |
$ | 3,280,537 | $ | 3,569,516 | ||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Interest-bearing liabilities: |
| |||||||||||||||||||||||
| Interest-bearing demand accounts |
$ | 523,400 | $ | 2,043 | 1.58 | % | $ | 560,565 | $ | 2,369 | 1.71 | % | ||||||||||||
| Money market accounts |
432,313 | 3,127 | 2.93 | % | 394,282 | 3,049 | 3.14 | % | ||||||||||||||||
| Savings accounts |
242,459 | 136 | 0.23 | % | 252,227 | 151 | 0.24 | % | ||||||||||||||||
| Certificates of Deposit |
964,292 | 8,592 | 3.61 | % | 1,005,669 | 10,762 | 4.34 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total interest-bearing deposits |
2,162,464 | 13,898 | 2.61 | % | 2,212,743 | 16,331 | 2.99 | % | ||||||||||||||||
| Borrowed funds |
271,123 | 3,667 | 5.49 | % | 488,418 | 5,856 | 4.86 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total interest-bearing liabilities |
2,433,587 | 17,565 | 2.93 | % | 2,701,161 | 22,187 | 3.33 | % | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Non-interest-bearing liabilities |
541,026 | 543,660 | ||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Total liabilities |
2,974,613 | 3,244,821 | ||||||||||||||||||||||
| Stockholders’ equity |
305,924 | 324,695 | ||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Total liabilities and stockholders’ equity |
$ | 3,280,537 | $ | 3,569,516 | ||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Net interest income |
$ | 22,837 | $ | 22,005 | ||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Net interest rate spread(1) |
2.28 | % | 1.87 | % | ||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| Net interest margin(2) |
2.95 | % | 2.59 | % | ||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
| (1) | Net interest rate spread represents the difference between the average yield on average interest-earning assets and the average cost of average interest-bearing liabilities. |
| (2) | Net interest margin represents net interest income divided by average total interest-earning assets. |
| (3) | Annualized. |
| (4) | Excludes allowance for credit losses. |
| (5) | Includes non-accrual loans. |
| (6) | Includes Federal Home Loan Bank of New York Stock. |
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 9
| Financial Condition data by quarter | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| (In thousands, except book values) | ||||||||||||||||||||
| Total assets |
$ | 3,269,097 | $ | 3,279,466 | $ | 3,353,065 | $ | 3,380,461 | $ | 3,473,822 | ||||||||||
| Cash and cash equivalents |
293,737 | 276,584 | 249,614 | 206,852 | 252,750 | |||||||||||||||
| Securities |
143,092 | 135,567 | 125,292 | 140,025 | 125,853 | |||||||||||||||
| Loans receivable, net |
2,655,981 | 2,691,091 | 2,788,932 | 2,860,453 | 2,917,610 | |||||||||||||||
| Deposits |
2,672,429 | 2,673,573 | 2,687,387 | 2,661,534 | 2,686,508 | |||||||||||||||
| Borrowings |
268,272 | 278,210 | 323,922 | 378,722 | 448,523 | |||||||||||||||
| Stockholders’ equity |
307,380 | 304,284 | 318,453 | 315,735 | 314,722 | |||||||||||||||
| Book value per common share1 |
$ | 16.25 | $ | 16.15 | $ | 17.02 | $ | 16.89 | $ | 16.87 | ||||||||||
| Tangible book value per common share2 |
$ | 15.95 | $ | 15.85 | $ | 16.71 | $ | 16.59 | $ | 16.56 | ||||||||||
| Operating data by quarter | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| (In thousands, except for per share amounts) | ||||||||||||||||||||
| Net interest income |
$ | 22,837 | $ | 24,223 | $ | 23,711 | $ | 23,102 | $ | 22,005 | ||||||||||
| Provision for credit losses |
2,788 | 12,195 | 4,080 | 4,891 | 20,845 | |||||||||||||||
| Non-interest income |
2,101 | 1,943 | 2,745 | 2,076 | 1,791 | |||||||||||||||
| Non-interest expense |
15,551 | 31,385 | 16,570 | 15,268 | 14,660 | |||||||||||||||
| Income tax expense (benefit) |
1,695 | (5,385 | ) | 1,544 | 1,455 | (3,385 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Net income (loss) |
$ | 4,904 | $ | (12,029 | ) | $ | 4,262 | $ | 3,564 | $ | (8,324 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Net income (loss) per diluted share |
$ | 0.26 | $ | (0.73 | ) | $ | 0.22 | $ | 0.18 | $ | (0.51 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Common Dividends declared per share |
$ | 0.08 | $ | 0.08 | $ | 0.16 | $ | 0.16 | $ | 0.16 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Financial Ratios(3) | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| Return on average assets |
0.61 | % | (1.44 | %) | 0.50 | % | 0.42 | % | (0.95 | %) | ||||||||||
| Return on average stockholders’ equity |
6.50 | % | (14.99 | %) | 5.35 | % | 4.55 | % | (10.40 | %) | ||||||||||
| Net interest margin |
2.95 | % | 3.03 | % | 2.88 | % | 2.80 | % | 2.59 | % | ||||||||||
| Stockholders’ equity to total assets |
9.40 | % | 9.28 | % | 9.50 | % | 9.34 | % | 9.06 | % | ||||||||||
| Efficiency Ratio4 |
62.36 | % | 119.95 | % | 62.63 | % | 60.64 | % | 61.61 | % | ||||||||||
| Asset Quality Ratios | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| (In thousands, except for ratio %) | ||||||||||||||||||||
| Non-Accrual Loans |
$ | 59,805 | $ | 63,255 | $ | 93,517 | $ | 101,764 | $ | 99,833 | ||||||||||
| Non-Accrual Loans as a % of Total Loans |
2.22 | % | 2.32 | % | 3.31 | % | 3.50 | % | 3.36 | % | ||||||||||
| ACL as % of Non-Accrual Loans |
54.5 | % | 53.3 | % | 40.4 | % | 49.8 | % | 51.6 | % | ||||||||||
| Individually Analyzed Loans |
160,600 | 162,226 | 129,358 | 153,428 | 122,517 | |||||||||||||||
| Classified Loans |
194,662 | 188,876 | 228,255 | 266,847 | 251,989 | |||||||||||||||
| (1) | Calculated by dividing stockholders’ equity, less preferred equity, by shares outstanding. |
| (2) | Calculated by dividing tangible stockholders’ common equity, a non-GAAP measure, by shares outstanding. Tangible stockholders’ common equity is stockholders’ equity less goodwill and preferred stock. See “Reconciliation of GAAP to Non-GAAP Financial Measures by quarter.” |
| (3) | Ratios are presented on an annualized basis, where appropriate. |
| (4) | The Efficiency Ratio, a non-GAAP measure, was calculated by dividing non-interest expense by the total of net interest income and non-interest income. See “Reconciliation of GAAP to Non-GAAP Financial Measures by quarter.” |
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 10
| Recorded Investment in Loans Receivable by quarter | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| (In thousands) | ||||||||||||||||||||
| Residential one-to-four family |
$ | 223,708 | $ | 226,708 | $ | 227,140 | $ | 230,917 | $ | 232,456 | ||||||||||
| Commercial and multi-family |
2,076,406 | 2,095,711 | 2,135,385 | 2,177,268 | 2,221,218 | |||||||||||||||
| Construction |
73,804 | 73,963 | 110,824 | 116,214 | 118,779 | |||||||||||||||
| Commercial business |
240,158 | 252,229 | 279,976 | 315,333 | 330,358 | |||||||||||||||
| Home equity |
72,716 | 74,332 | 73,566 | 71,587 | 66,479 | |||||||||||||||
| Consumer |
3,584 | 3,580 | 2,042 | 2,075 | 2,271 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| $ | 2,690,376 | $ | 2,726,523 | $ | 2,828,933 | $ | 2,913,394 | $ | 2,971,561 | |||||||||||
| Less: |
||||||||||||||||||||
| Deferred loan fees, net |
(1,817 | ) | (1,741 | ) | (2,198 | ) | (2,283 | ) | (2,467 | ) | ||||||||||
| Allowance for credit losses |
(32,578 | ) | (33,691 | ) | (37,803 | ) | (50,658 | ) | (51,484 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total loans, net |
$ | 2,655,981 | $ | 2,691,091 | $ | 2,788,932 | $ | 2,860,453 | $ | 2,917,610 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Non-Accruing Loans in Portfolio by quarter | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| (In thousands) | ||||||||||||||||||||
| Residential one-to-four family |
$ | 1,576 | $ | 1,554 | $ | 1,410 | $ | 1,436 | $ | 1,138 | ||||||||||
| Commercial and multi-family |
52,297 | 52,159 | 70,546 | 91,480 | 89,296 | |||||||||||||||
| Construction |
3,173 | 4,897 | 2,310 | 586 | 586 | |||||||||||||||
| Commercial business |
2,418 | 4,351 | 18,777 | 7,769 | 8,374 | |||||||||||||||
| Home equity |
341 | 294 | 474 | 493 | 439 | |||||||||||||||
| Consumer |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total: |
$ | 59,805 | $ | 63,255 | $ | 93,517 | $ | 101,764 | $ | 99,833 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Distribution of Deposits by quarter | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| (In thousands) | ||||||||||||||||||||
| Demand: |
| |||||||||||||||||||
| Non-Interest Bearing |
$ | 521,317 | $ | 531,140 | $ | 536,908 | $ | 539,093 | $ | 542,620 | ||||||||||
| Interest Bearing |
511,465 | 501,172 | 477,427 | 503,336 | 537,468 | |||||||||||||||
| Money Market |
448,397 | 426,138 | 422,424 | 428,397 | 405,793 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Sub-total: |
$ | 1,481,179 | $ | 1,458,450 | $ | 1,436,759 | $ | 1,470,826 | $ | 1,485,881 | ||||||||||
| Savings and Club |
240,048 | 243,670 | 254,554 | 258,585 | 254,732 | |||||||||||||||
| Certificates of Deposit |
951,202 | 971,453 | 996,074 | 932,123 | 945,895 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Deposits: |
$ | 2,672,429 | $ | 2,673,573 | $ | 2,687,387 | $ | 2,661,534 | $ | 2,686,508 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
BCBP Reports First Quarter 2026 Results
April 21, 2026
Page 11
| Reconciliation of GAAP to Non-GAAP Financial Measures by quarter | ||||||||||||||||||||
| Tangible Book Value per Share | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| (In thousands, except per share amounts) | ||||||||||||||||||||
| Total Stockholders’ Equity |
$ | 307,380 | $ | 304,284 | $ | 318,453 | $ | 315,735 | $ | 314,722 | ||||||||||
| Less: goodwill |
5,253 | 5,253 | 5,253 | 5,253 | 5,253 | |||||||||||||||
| Less: preferred stock |
25,243 | 25,243 | 25,243 | 25,243 | 25,243 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total tangible common stockholders’ equity |
276,884 | 273,788 | 287,957 | 285,239 | 284,226 | |||||||||||||||
| Shares common shares outstanding |
17,359 | 17,274 | 17,228 | 17,194 | 17,163 | |||||||||||||||
| Book value per common share |
$ | 16.25 | $ | 16.15 | $ | 17.02 | $ | 16.89 | $ | 16.87 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Tangible book value per common share |
$ | 15.95 | $ | 15.85 | $ | 16.71 | $ | 16.59 | $ | 16.56 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Efficiency Ratios | ||||||||||||||||||||
| Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | ||||||||||||||||
| (In thousands, except for ratio %) | ||||||||||||||||||||
| Net interest income |
$ | 22,837 | $ | 24,223 | $ | 23,711 | $ | 23,102 | $ | 22,005 | ||||||||||
| Non-interest income |
2,101 | 1,943 | 2,745 | 2,076 | 1,791 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total income |
24,938 | 26,166 | 26,456 | 25,178 | 23,796 | |||||||||||||||
| Non-interest expense |
15,551 | 31,385 | 16,570 | 15,268 | 14,660 | |||||||||||||||
|
|
|
|
|
|
|
|
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| Efficiency Ratio |
62.36 | % | 119.95 | % | 62.63 | % | 60.64 | % | 61.61 | % | ||||||||||
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