Form 8-K
8-K — BCB BANCORP INC
Accession: 0001193125-26-329536
Filed: 2026-08-03
Period: 2026-08-03
CIK: 0001228454
SIC: 6035 (SAVINGS INSTITUTION, FEDERALLY CHARTERED)
Item: Results of Operations and Financial Condition
Item: Other Events
Item: Financial Statements and Exhibits
Documents
8-K — d149798d8k.htm (Primary)
EX-99.1 (d149798dex991.htm)
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XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: d149798d8k.htm · Sequence: 1
8-K
BCB BANCORP INC false 0001228454 0001228454 2026-08-03 2026-08-03
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 3, 2026
BCB BANCORP, INC.
(Exact name of registrant as specified in its charter)
New Jersey
0-50275
26-0065262
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
104-110 Avenue C
Bayonne, New Jersey
07002
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (201) 823-0700
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common Stock, no par value
BCBP
The Nasdaq Stock Market LLC
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 August 3, 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 second quarter ended June 30, 2026. A copy of the Press Release and the accompanying financial statements are attached hereto as Exhibit 99.1 and are incorporated herein 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 Company also announced today that the Company’s board of directors approved a proposal to change the Company’s state of incorporation from New Jersey to Delaware and also to end the current staggered board terms and move to annual director elections, subject to shareholder approval.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
No.
Description
99.1
Press Release, dated August 3, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURE
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: August 3, 2026
By:
/s/ Jawad Chaudhry
Jawad Chaudhry
Executive Vice President and Chief Financial Officer
(Duly Authorized Representative)
EX-99.1
EX-99.1
Filename: d149798dex991.htm · Sequence: 2
EX-99.1
Exhibit 99.1
Contact:
Jawad Chaudhry,
EVP, CFO & TREASURER
(201) 823-0700
BCB Bancorp, Inc.
Reports Net Loss of $14.8 Million in the Second Quarter 2026
Board Approves Reincorporation in Delaware, Subject to
Shareholder Approval
BAYONNE, N.J., August 3, 2026 — BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding
company for BCB Community Bank (the “Bank”), today reported a net loss of $14.8 million for the second quarter of 2026, compared to net income of $4.9 million in the first quarter of 2026, and net income of $3.6 million
for the second quarter of 2025. The Company’s loss per diluted share for the second quarter was ($0.85) compared to earnings per diluted share of $0.26 in the preceding quarter and $0.18 in the second quarter of 2025. The Company’s
reported net loss for the six months ended June 30, 2026 was $9.9 million, compared to a net loss of $4.8 million for the six months ended June 30, 2025. The Company’s loss per diluted share for the six months ended
June 30, 2026 was ($0.60) compared to a loss per diluted share of ($0.33) for the six months ended June 30, 2025.
Executive Summary
•
Total deposits were $2.636 billion at June 30, 2026, compared to $2.672 billion at March 31,
2026.
•
Net interest margin was 3.03 percent for the second quarter of 2026, compared to 2.95 percent for the
first quarter of 2026, and 2.80 percent for the second quarter of 2025.
•
Total yield on interest-earning assets was 5.25 percent for the second quarter of 2026, compared to
5.21 percent for the first quarter of 2026, and 5.24 percent for the second quarter of 2025.
•
Total cost of interest-bearing liabilities decreased 6 basis points to 2.87 percent for the second quarter
of 2026, compared to 2.93 percent for the first quarter of 2026, and decreased 29 basis points from 3.16 percent for the second quarter of 2025.
•
The efficiency ratio for the second quarter was 96.8 percent compared to 62.4 percent in the prior
quarter, and 60.6 percent in the second quarter of 2025.
•
The annualized return on average assets ratio for the second quarter was (1.83) percent, compared to
0.61 percent in the prior quarter, and 0.42 percent in the second quarter of 2025.
•
The annualized return on average equity ratio for the second quarter was (19.22) percent, compared to
6.50 percent in the prior quarter, and 4.55 percent in the second quarter of 2025.
•
The provision for credit losses was $19.0 million in the second quarter of 2026 compared to
$2.8 million for the first quarter of 2026. In the second quarter of 2025, the Bank recorded a provision of $4.9 million.
•
Total criticized and classified loans was $367.4 million in the second quarter compared to
$403.0 million at March 31, 2026.
•
The allowance for credit losses on loans as a percentage of non-accrual
loans was 62.5 percent at June 30, 2026, compared to 54.5 percent for the prior quarter-end and 49.8 percent at June 30, 2025. Total non-accrual
loans were $72.0 million at June 30, 2026, $59.8 million at March 31, 2026 and $101.8 million at June 30, 2025.
•
Total loans receivable, net of the allowance for credit losses on loans, of $2.588 billion at June 30,
2026, decreased from $2.860 billion at June 30, 2025.
The net loss for the second quarter of 2026 was primarily driven by a
$19.0 million provision for credit losses on loans, a $5.3 million non-cash goodwill impairment charge, and a $2.6 million loss on a loan transferred to held-for-sale. The elevated provision reflects additional reserves established for the Business Express loan portfolio and other portions of the Commercial and Industrial (“C&I”) loan
portfolio, which has continued to experience elevated net charge-offs. Management determined that a higher reserve level was prudent given the portfolio’s performance trends, taking into account the early results of a recently commenced
evaluation of the Bank’s loan portfolio focusing on potential problem loans. The goodwill impairment charge resulted from an interim quantitative impairment assessment triggered by the Company’s significant quarterly loss and the
continued trading of its stock at a substantial discount to book value. The non-cash charge fully impaired the goodwill recorded on its balance sheet. The loss on the loan transferred to held-for-sale is consistent with management’s overall balance sheet evaluation strategy and relates to a non-accrual construction
loan expected to be sold during the third quarter.
BCBP Reports Second Quarter 2026 Results
August 3, 2026
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2
“We are actively conducting a comprehensive review of the Bank’s loan portfolio with the
assistance of independent consultants as part of our broader effort to strengthen the balance sheet and position the franchise for long-term success. It is too early in our evaluation to assess whether and to what extent additional loans, not
captured in the second quarter results, may be impacted. While we remain focused on delivering sustainable operating performance, our immediate priority is to maintain disciplined balance sheet management and long-term value creation. As our
evaluation continues in the third quarter, we will fully explore various alternatives to strengthen the credits or exit the relationships, which may include workouts and loan restructurings, such as potentially seeking additional collateral,
interest rate adjustments, as well as select loan sales. In addition, the Bank has ceased originating residential mortgage, home equity, and consumer loans, as we believe the current risk-adjusted returns in these categories are not sufficiently
attractive. At June 30, 2026, our capital remains above well capitalized. To help preserve capital at the bank and liquidity at the holding company, the board of directors agreed to suspend both common and preferred dividends at their June
meeting. We have taken these steps that are focused on capital preservation to support our balance sheet strengthening initiatives and reinforce our commitment to building a safer, stronger, and more resilient institution.” said Tom
O’Brien, President and Chief Executive Officer of the Company and the Bank.
Reincorporation in Delaware
The Company also announced today that the board has decided to change its state of incorporation to Delaware, and to end the current staggered board terms in
favor of annual director elections. Mr. O’Brien noted: “the change to Delaware will align us with the vast majority of public companies and allows for updated governance provisions that will help place our company in line with
prevailing public company governance practices. Later this quarter, we will call a special meeting of shareholders to be held late this year. The purpose of the meeting will be to seek shareholder approval to reincorporate in Delaware. The full
presentation of these governance changes will be provided in a proxy statement in connection with the special meeting.”
Balance Sheet Review
Total assets decreased by $161.3 million, or 4.9 percent, to $3.118 billion at June 30, 2026, from $3.279 billion at
December 31, 2025. The decrease in total assets was mainly related to a decrease in net loans and cash and cash equivalents, offset by an increase in debt securities.
Total cash and cash equivalents decreased by $79.7 million, or 28.8 percent, to $196.9 million at June 30, 2026, from $276.6 million
at December 31, 2025. The decrease in cash was primarily due to the reduction of the Bank’s exposure to wholesale funding by paying down high cost brokered deposits and FHLB advances.
Loans receivable, net, decreased by $103.1 million, or 3.8 percent, to $2.588 billion at June 30, 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 $35.2 million in construction loans, $30.9 million in commercial and multi-family loans, $10.9 million
in commercial business loans, $5.9 million in business express loans, and $8.0 million in 1-4 family residential loans, and $679,000 in cannabis, home equity and consumer loans.
The allowance for credit losses on loans increased $11.3 million to $45.0 million, or 62.5 percent of
non-accruing loans and 1.71 percent of gross loans, at June 30, 2026, as compared to an allowance for credit losses on loans of $33.7 million, or 53.3 percent of non-accruing loans and 1.24 percent of gross loans, at December 31, 2025.
Total investment securities
increased by $16.7 million, or 12.3 percent, to $152.3 million at June 30, 2026, from $135.6 million at December 31, 2025, representing current year purchases, offset by current year sales.
Deposits decreased by $37.6 million, or 1.4 percent, to $2.636 billion at June 30, 2026, from $2.674 billion at December 31,
2025. Certificates of deposit accounts and savings accounts decreased $45.2 million and $13.1 million, respectively, and were offset by an increase in money market accounts of $20.8 million. Brokered deposits declined by
$28.6 million from $80.5 million at December 31, 2025 to $51.9 million at June 30, 2026.
BCBP Reports Second Quarter 2026 Results
August 3, 2026
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3
Debt obligations decreased by $109.9 million to $168.3 million at June 30, 2026, from
$278.2 million at December 31, 2025, due to maturities and paydowns of FHLB advances. The weighted average interest rate of FHLB advances was 4.88 percent at June 30, 2026, and 4.53 percent at December 31, 2025. The
weighted average maturity of FHLB advances as of June 30, 2026, was less than ninety days. The interest rate of the Company’s subordinated debt balances was 9.25 percent at June 30, 2026, and at December 31, 2025.
Stockholders’ equity decreased by $12.4 million, or 4.1 percent, to $291.9 million at June 30, 2026, from $304.3 million at
December 31, 2025. The decrease was attributable to the decrease in retained earnings of $13.2 million, or 11.3 percent, to $103.2 million at June 30, 2026, from $116.4 million at December 31, 2025, caused largely
by the $9.9 million loss in the first six months of 2026.
Asset Quality
The Bank had non-accrual loans totaling $72.0 million, or 2.73 percent of gross loans, at June 30, 2026,
as compared to $59.8 million, or 2.22 percent of gross loans, at March 31, 2026, and $63.3 million, or 2.32 percent of gross loans at December 31, 2025. The Bank had total past due loans totaling $122.8 million, or
4.66 percent of gross loans, at June 30, 2026, as compared to $107.9 million, or 4.01 percent of gross loans, at March 31, 2026, and $99.1 million, or 3.64 percent of gross loans, at December 31, 2025. The
Bank had total classified and criticized loans totaling $367.4 million, or 13.94 percent of gross loans, at June 30, 2026, as compared to $403.0 million, or 14.98 percent of gross loans, at March 31, 2026, and
$360.0 million, or 13.19 percent of gross loans, at December 31, 2025.
The allowance for credit losses on loans of $45.0 million, as
of June 30, 2026, increased by $12.4 million, or 38.1 percent, compared to March 31, 2026, and increased by $11.3 million, or 33.5 percent, compared to December 31, 2025. The $12.4 million increase compared to
March 31, 2026 was driven by a $19.0 million increase in provision expense that was partially offset by $6.6 million in loan charge-offs. The increases in provision expenses and charge-offs compared to both periods were primarily
attributed to the C&I portfolio that has continued to experience elevated net charge-offs. The C&I portfolio generated net charge-offs of $824 thousand in the first quarter, increasing to $5.8 million in the second quarter. In
addition, the Bank determined that a full recovery is no longer expected on a previously charged-off $6.3 million C&I relationship. Reflecting these developments and broader credit trends observed
within the C&I portfolio, management separately evaluated the portfolio under its qualitative reserve framework during the second quarter, resulting in a $10.8 million increase to the allowance established for the portfolio.
During the second quarter, the Bank transferred one loan on nonaccrual status to
held-for-sale, which was written down to fair market value resulting in a loss of $2.6 million reflected in
non-interest income under the line item for net loss on the sale of loans. The remaining carrying value of the loan is $10.8 million. Loans held-for-sale are not included in past due loans or classified loans.
The allowance for credit losses was
62.5 percent of non-accrual loans at June 30, 2026, compared to 54.5 percent of non-accrual loans at March 31, 2026, and 53.3 percent of non-accrual loans at December 31, 2025, respectively.
Mr. O’Brien noted that, “since June 1,
2026, we have been engaged on a comprehensive re-evaluation of the company’s credit portfolios with the assistance of independent consultants. Their initial feedback has been reflected in the loan loss
reserving decisions made during the second quarter and we are working toward completion of that review by the end of the third quarter. With respect to the much larger commercial real estate portfolio, we are in the early stages of our analysis.
Given the absolute size and complexity of these portfolios, this remains a work in progress.”
Second Quarter 2026 Income Statement Review
The Company reported a net loss of $14.8 million for the quarter ended June 30, 2026, compared to net income of $3.6 million for the
quarter ended June 30, 2025. This decline was primarily due to a $14.1 million increase in loan loss provisioning, a $5.3 million non-cash goodwill impairment charge, a $2.6 million loss on
the sale of loans and a $1.7 million increase in salaries and employee benefits. This was offset by a decrease in tax provision of $4.9 million.
BCBP Reports Second Quarter 2026 Results
August 3, 2026
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4
Interest income decreased by $2.7 million, or 6.3 percent, to $40.5 million for the second
quarter of 2026 from $43.2 million for the second quarter of 2025. The average balance of interest-earning assets decreased $215.5 million, or 6.5 percent, to $3.092 billion for the second quarter of 2026 from $3.307 billion
for the second quarter of 2025. The average yield increased 1 basis point to 5.25 percent for the second quarter of 2026 from 5.24 percent for the second quarter of 2025.
Interest expense decreased by $3.0 million to $17.1 million for the second quarter of 2026 from $20.1 million for the second quarter of 2025.
The decrease resulted from a decrease in the average rate paid on interest-bearing liabilities of 29 basis points to 2.87 percent for the second quarter of 2026 from 3.16 percent for the second quarter of 2025, while the average balance of
interest-bearing liabilities decreased by $156.0 million to $2.393 billion for the second quarter of 2026 from $2.549 billion for the second quarter of 2025.
The net interest margin was 3.03 percent for the second quarter of 2026 compared to 2.80 percent for the second quarter of 2025. The increase in the
net interest margin compared to the second quarter of 2025 was the result of a decrease in the cost of interest-bearing liabilities.
The provision for
credit losses was $19.0 million for the second quarter of 2026 compared to $4.9 million for the second quarter of 2025. The increase was primarily driven by higher reserve requirements within the C&I loan portfolio, as further
described under Asset Quality. During the second quarter of 2026, the Company recognized $6.6 million in net charge-offs compared to $5.7 million in net charge-offs in the second quarter of 2025. The Bank had non-accrual loans totaling $72.0 million, or 2.73 percent of gross loans, at June 30, 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 $45.0 million, or 1.71 percent of gross loans, at June 30, 2026, and $33.7 million, or 1.24 percent of gross loans, at December 31, 2025. Management believes the allowance for
credit losses on loans was adequate at June 30, 2026 and December 31, 2025.
Non-interest income
decreased by $2.5 million to a loss of $470 thousand for the second quarter of 2026, compared to income of $2.1 million for the second quarter of 2025. The decrease in total non-interest income
was primarily attributable to a $2.6 million loss on the sale of loans, compared to no such loss in the prior year period, and a $108 thousand increase in
mark-to-market losses on investment securities, partially offset by a $131 thousand increase in Bank Owned Life Insurance (“BOLI”) income.
Non-interest expense increased by $6.9 million, or 45.0 percent, to $22.1 million for the second
quarter of 2026 compared to $15.3 million for the second quarter of 2025. The increase was primarily driven by a $5.3 million non-cash goodwill impairment charge, a $1.7 million increase in
salaries and benefits expense, which included $814 thousand severance costs, and a $273 thousand increase in advertising and promotion expense. Partially offsetting these increases was a $205 thousand decrease in professional fees.
The income tax provision decreased by $4.9 million, to an income tax benefit of $3.5 million for the second quarter of 2026 when compared to a
$1.5 million provision for the second quarter of 2025.
Year-to-Date Income Statement Review
Net income decreased by $5.1 million to a net loss of $9.9 million for the first six months of 2026, compared to a net loss of $4.8 million for
the first six months of 2025. The increased net loss was primarily attributable to a $5.3 million non-cash goodwill impairment charge, a $2.6 million loss on the sale of loans and a $2.6 million
increase in salaries and employee benefits.
Net interest income increased $1.1 million for the first six months of 2026, as interest expense
decreased by $7.6 million, or 17.9 percent, to $34.7 million from $42.3 million for the first six months of 2025 and interest income decreased $6.5 million, from $87.4 million to $80.9 million for the same period.
The average balance of interest-earning assets decreased
BCBP Reports Second Quarter 2026 Results
August 3, 2026
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$257.1 million, or 7.6 percent, to $3.118 billion from $3.375 billion, while the average yield on interest-earning assets increased 1 basis point to 5.23 percent from
5.22 percent. The decline in average interest-earning assets was primarily due to a $279.5 million decrease in average loans, partially offset by a $19.2 million increase in average investment securities. The decrease in interest
expense was driven by declines in interest expense on borrowings and deposits of $4.0 million and $3.6 million, respectively. Average borrowings decreased $201.4 million, while the average rate paid on borrowings increased by 70 basis
points to 5.56 percent. Average deposits declined $10.1 million and the average rate paid on deposits declined 32 basis points to 2.59 percent.
Net interest margin was 2.99 percent for the first six months of 2026, compared to 2.70 percent for the first six months of 2025. The increase in
the net interest margin compared to the prior period was the result of a decrease in the cost of the Company’s interest-bearing liabilities, by 35 basis points to 2.90 percent and an increase in the rate earned on earning assets, by 1
basis point to 5.23 percent.
The provision for credit losses decreased by $4.0 million to $21.8 million for the first six months of 2026
from $25.7 million for the same period in 2025. The elevated provision in the prior-year period reflected a previously disclosed $13.7 million specific reserve related to a $34.2 million cannabis-sector lending relationship. The 2026
provision was primarily driven by increased reserve requirements within the C&I loan portfolio, as further described under Asset Quality. During the first six months of 2026, the Company experienced $10.5 million in net charge-offs
compared to $9.9 million in net charge-offs for the same period in 2025.
Non-interest income decreased by
$2.2 million to $1.6 million for the first six months of 2026, compared to $3.9 million for the same period in 2025. The decrease was primarily attributable to a $2.6 million loss on the sale of loans in 2026, compared to no such
loss in the prior year period. Partially offsetting this was a $469 thousand increase in income from Bank Owned Life Insurance (“BOLI”).
Non-interest expense increased by $7.8 million, or 25.9 percent, to $37.7 million for the first six
months of 2026 from $29.9 million for the same period in 2025. The increase was primarily driven by a $5.3 million non-cash goodwill impairment charge and a $2.6 million increase in salaries and
employee benefits expense, which included $814 thousand severance costs recognized during the second quarter. Advertising expenses and OREO expenses increased $294 thousand and $280 thousand, respectively. Partially offsetting these
increases were decreases in professional fees, director fees and regulatory assessments of $270 thousand, $241 thousand and $98 thousand, respectively.
The income tax benefit decreased by $157 thousand or 8.1 percent, to an income tax benefit of $1.8 million for the first six months of 2026
when compared to a $1.9 million income tax benefit for the same period in 2025. While the pretax loss increased to $11.6 million from $6.7 million in the prior period, the income tax credit declined primarily because the
$5.3 million non-cash goodwill impairment charge recognized in 2026 is not deductible for income tax purposes and therefore did not generate a corresponding tax benefit.
BCBP Reports Second Quarter 2026 Results
August 3, 2026
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Investor Conference Call
Management will host a conference call on Monday, August 3, 2026 at 8:45 a.m. Eastern Time to discuss the results.
Interested investors are invited to dial 1-800-715-9871 using conference ID 3209751 to participate in the call.
A replay of the call will be available at https://investorrelations.bcbcommunitybank.com/corporate-information/corporate-profile/default.aspx.
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-two branch offices in Bayonne, Edison, Hoboken, Fairfield, Holmdel,
Jersey City, Lyndhurst, Maplewood, Monroe Township, Newark, 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 ongoing impact of global tariffs imposed by the Trump administration, higher inflation levels, and
general economic and recessionary 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, the global impact of the military conflicts in the Ukraine and the Middle East; 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 results of the
recently commenced and ongoing review of our loan portfolios; 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, 2024, and our other periodic reports that we file with the SEC.
BCBP Reports Second Quarter 2026 Results
August 3, 2026
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Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not
forecasts and may not reflect actual results.
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 Second Quarter 2026 Results
August 3, 2026
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8
Statements of Operations - Three Months Ended,
June 30, 2026
March 31, 2026
June 30, 2025
June 30, 2026 vs.
March 31, 2026
June 30, 2026 vs.
June 30, 2025
(In thousands, except per share amounts,
Unaudited)
Interest and dividend income:
Loans, including fees
$
35,856
$
35,878
$
38,650
-0.1
%
-7.2
%
Mortgage-backed securities
960
839
765
14.4
%
25.5
%
Other investment securities
1,113
990
1,057
12.4
%
5.3
%
FHLB stock and other interest-earning assets
2,532
2,695
2,709
-6.0
%
-6.5
%
Total interest and dividend income
40,461
40,402
43,181
0.1
%
-6.3
%
Interest expense:
Deposits:
Demand
5,413
5,170
5,584
4.7
%
-3.1
%
Savings and club
112
136
217
-17.6
%
-48.4
%
Certificates of deposit
8,266
8,592
9,170
-3.8
%
-9.9
%
13,791
13,898
14,971
-0.8
%
-7.9
%
Borrowings
3,325
3,667
5,108
-9.3
%
-34.9
%
Total interest expense
17,116
17,565
20,079
-2.6
%
-14.8
%
Net interest income
23,345
22,837
23,102
2.2
%
1.1
%
Provision for credit losses
18,987
2,788
4,891
581.0
%
288.2
%
Net interest income after provision for credit losses
4,358
20,049
18,211
-78.3
%
-76.1
%
Non-interest (loss) income :
Fees and service charges
1,313
1,191
1,305
10.2
%
0.6
%
(Loss) gain on sales of loans
(2,607
)
7
—
-37342.9
%
—
Realized and unrealized loss on equity investments
(248
)
(93
)
(108
)
166.7
%
129.6
%
Bank-owned life insurance (“BOLI”) income
917
946
786
-3.1
%
16.7
%
Other
155
50
93
210.0
%
66.7
%
Total non-interest (loss) income
(470
)
2,101
2,076
-122.4
%
-122.6
%
Non-interest expense:
Salaries and employee benefits
9,395
8,327
7,713
12.8
%
21.8
%
Occupancy and equipment
2,562
2,724
2,502
-5.9
%
2.4
%
Data processing and communications
1,968
2,023
2,046
-2.7
%
-3.8
%
Professional fees
562
627
767
-10.4
%
-26.7
%
Director fees
244
246
313
-0.8
%
-22.0
%
Regulatory assessment fees
650
765
804
-15.0
%
-19.2
%
Advertising and promotions
489
200
216
144.5
%
126.4
%
Other real estate owned, net
130
150
—
-13.3
%
—
Impairment of Goodwill
5,253
—
—
—
—
Other
879
489
907
79.8
%
-3.1
%
Total non-interest expense
22,132
15,551
15,268
42.3
%
45.0
%
(Loss) Income before income tax (benefit) provision
(18,244
)
6,599
5,019
-376.5
%
-463.5
%
Income tax (benefit) provision
(3,468
)
1,695
1,455
-304.6
%
-338.4
%
Net (Loss) Income
(14,776
)
4,904
3,564
-401.3
%
-514.6
%
Preferred stock dividends
—
482
482
—
—
Net (Loss) Income available to common stockholders
$
(14,776
)
$
4,422
$
3,082
-434.2
%
-579.5
%
Net (Loss) Income per common share-basic and diluted
Basic
$
(0.85
)
$
0.26
$
0.18
-434.3
%
-575.8
%
Diluted
$
(0.85
)
$
0.26
$
0.18
-434.3
%
-575.8
%
Weighted average number of common shares outstanding
Basic
17,306
17,314
17,175
0.0
%
0.8
%
Diluted
17,306
17,314
17,175
0.0
%
0.8
%
BCBP Reports Second Quarter 2026 Results
August 3, 2026
Page
9
Statements of Operations - Six Months Ended,
June 30, 2026
June 30, 2025
June 30, 2026 vs.
June 30, 2025
(In thousands, except per share amounts, Unaudited)
Interest and dividend income:
Loans, including fees
$
71,734
$
77,577
-7.5
%
Mortgage-backed securities
1,799
1,326
35.7
%
Other investment securities
2,103
2,025
3.9
%
FHLB stock and other interest-earning assets
5,227
6,445
-18.9
%
Total interest and dividend income
80,863
87,373
-7.5
%
Interest expense:
Deposits:
Demand
10,583
11,002
-3.8
%
Savings and club
248
368
-32.6
%
Certificates of deposit
16,858
19,932
-15.4
%
27,689
31,302
-11.5
%
Borrowings
6,992
10,964
-36.2
%
Total interest expense
34,681
42,266
-17.9
%
Net interest income
46,182
45,107
2.4
%
Provision for credit losses
21,775
25,736
-15.4
%
Net interest income after provision for credit losses
24,407
19,371
26.0
%
Non-interest income :
Fees and service charges
2,504
2,478
1.0
%
Gain (loss) on sales of loans
(2,600
)
—
—
Realized and unrealized gain (loss) on equity investments
(341
)
(223
)
52.9
%
Bank-owned life insurance (“BOLI”) income
1,863
1,394
33.6
%
Other
205
218
-6.0
%
Total non-interest income
1,631
3,867
-57.8
%
Non-interest expense:
Salaries and employee benefits
17,722
15,116
17.2
%
Occupancy and equipment
5,286
5,225
1.2
%
Data processing and communications
3,991
3,890
2.6
%
Professional fees
1,189
1,459
-18.5
%
Director fees
490
731
-33.0
%
Regulatory assessments
1,415
1,513
-6.5
%
Advertising and promotions
689
395
74.4
%
Other real estate owned, net
280
—
—
Impairment of Goodwill
5,253
—
Other
1,368
1,599
-14.4
%
Total non-interest expense
37,683
29,928
25.9
%
Loss before income tax benefit
(11,645
)
(6,690
)
74.1
%
Income tax benefit
(1,773
)
(1,930
)
-8.1
%
Net Loss
(9,872
)
(4,760
)
107.4
%
Preferred stock dividends
482
964
-50.0
%
Net Loss available to common stockholders
$
(10,354
)
$
(5,724
)
80.9
%
Net Loss per common share-basic and diluted
Basic
$
(0.60
)
$
(0.33
)
79.5
%
Diluted
$
(0.60
)
$
(0.33
)
79.5
%
Weighted average number of common shares outstanding
Basic
17,273
17,144
0.8
%
Diluted
17,273
17,144
0.8
%
BCBP Reports Second Quarter 2026 Results
August 3, 2026
Page
10
Statements of Financial Condition
June 30, 2026
March 31, 2026
December 31, 2025
June 30, 2026 vs.
March 31, 2026
June 30, 2026 vs.
December 31,
2025
(In Thousands, Unaudited)
ASSETS
Cash and amounts due from depository institutions
$
14,573
$
12,619
$
13,794
15.5
%
5.6
%
Interest-earning deposits
182,314
281,118
262,790
-35.1
%
-30.6
%
Total cash and cash equivalents
196,887
293,737
276,584
-33.0
%
-28.8
%
Interest-earning time deposits
735
735
735
—
—
Debt securities available for sale
148,428
134,013
126,395
10.8
%
17.4
%
Equity investments
3,851
9,079
9,172
-57.6
%
-58.0
%
Loans held for sale
10,777
—
—
—
—
Loans receivable, net of allowance for credit losses on loans of $44,980, $32,578, and $33,691
respectively
2,587,984
2,655,981
2,691,091
-2.6
%
-3.8
%
Federal Home Loan Bank of New York (“FHLB”) stock, at cost
9,048
13,757
14,176
-34.2
%
-36.2
%
Premises and equipment, net
11,737
11,915
12,056
-1.5
%
-2.6
%
Accrued interest receivable
14,661
15,259
13,834
-3.9
%
6.0
%
Other real estate owned
5,000
5,000
5,000
—
—
Deferred income taxes
24,794
23,047
22,209
7.6
%
11.6
%
Goodwill
—
5,253
5,253
—
—
Operating lease
right-of-use asset
10,479
10,889
10,660
-3.8
%
-1.7
%
Bank-owned life insurance (“BOLI”)
81,229
80,312
79,366
1.1
%
2.3
%
Other assets
12,516
10,120
12,935
23.7
%
-3.2
%
Total Assets
$
3,118,126
$
3,269,097
$
3,279,466
-4.6
%
-4.9
%
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Non-interest bearing deposits
$
514,648
$
521,316
$
531,140
-1.3
%
-3.1
%
Interest bearing deposits
2,121,375
2,151,113
2,142,433
-1.4
%
-1.0
%
Total deposits
2,636,023
2,672,429
2,673,573
-1.4
%
-1.4
%
FHLB advances
125,000
225,000
235,000
-44.4
%
-46.8
%
Subordinated debentures
43,335
43,272
43,210
0.1
%
0.3
%
Operating lease liability
10,953
11,365
11,140
-3.6
%
-1.7
%
Other liabilities
10,896
9,651
12,259
12.9
%
-11.1
%
Total Liabilities
2,826,207
2,961,717
2,975,182
-4.6
%
-5.0
%
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
204,451
203,876
203,429
0.3
%
0.5
%
Retained earnings
103,225
119,412
116,415
-13.6
%
-11.3
%
Accumulated other comprehensive loss
(2,653
)
(2,804
)
(2,456
)
-5.4
%
8.0
%
Treasury stock, at cost
(38,347
)
(38,347
)
(38,347
)
—
—
Total Stockholders’ Equity
291,919
307,380
304,284
-5.0
%
-4.1
%
Total Liabilities and Stockholders’ Equity
$
3,118,126
$
3,269,097
$
3,279,466
-4.6
%
-4.9
%
Outstanding common shares
18,102
17,359
17,274
BCBP Reports Second Quarter 2026 Results
August 3, 2026
Page
11
Three Months Ended June 30,
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)
$
2,660,757
$
35,856
5.41
%
$
2,933,851
$
38,650
5.28
%
Investment Securities
152,347
2,073
5.44
%
133,900
1,822
5.44
%
Other Interest-earning assets (6)
278,413
2,532
3.65
%
239,245
2,709
4.54
%
Total Interest-earning assets
3,091,517
40,461
5.25
%
3,306,996
43,181
5.24
%
Non-interest-earning assets
139,410
113,206
Total assets
$
3,230,927
$
3,420,202
Interest-bearing liabilities:
Interest-bearing demand accounts
$
529,612
$
2,122
1.61
%
$
529,120
$
2,230
1.69
%
Money market accounts
449,469
3,291
2.94
%
418,014
3,354
3.22
%
Savings accounts
237,124
112
0.19
%
258,696
217
0.34
%
Certificates of Deposit
940,358
8,266
3.53
%
921,140
9,170
3.99
%
Total interest-bearing deposits
2,156,563
13,791
2.56
%
2,126,970
14,971
2.82
%
Borrowed funds
236,427
3,325
5.64
%
422,022
5,108
4.85
%
Total interest-bearing liabilities
2,392,990
17,116
2.87
%
2,548,992
20,079
3.16
%
Non-interest-bearing liabilities
529,508
557,177
Total liabilities
2,922,498
3,106,169
Stockholders’ equity
308,429
314,033
Total liabilities and stockholders’ equity
$
3,230,927
$
3,420,202
Net interest income
$
23,345
$
23,102
Net interest rate spread (1)
2.38
%
2.08
%
Net interest margin (2)
3.03
%
2.80
%
(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 Second Quarter 2026 Results
August 3, 2026
Page
12
Six Months Ended June 30,
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)
$
2,684,502
$
71,734
5.39
%
$
2,964,023
$
77,577
5.28
%
Investment Securities
144,789
3,902
5.43
%
125,598
3,351
5.38
%
Other interest-earning assets (6)
288,485
5,227
3.65
%
285,271
6,445
4.56
%
Total Interest-earning assets
3,117,776
80,863
5.23
%
3,374,892
87,373
5.22
%
Non-interest-earning assets
137,717
119,558
Total assets
$
3,255,493
$
3,494,450
Interest-bearing liabilities:
Interest-bearing demand accounts
$
526,523
$
4,165
1.59
%
$
544,756
$
4,598
1.70
%
Money market accounts
440,938
6,418
2.94
%
406,214
6,404
3.18
%
Savings accounts
239,777
248
0.21
%
255,479
368
0.29
%
Certificates of Deposit
952,259
16,858
3.57
%
963,171
19,932
4.17
%
Total interest-bearing deposits
2,159,497
27,689
2.59
%
2,169,620
31,302
2.91
%
Borrowed funds
253,679
6,992
5.56
%
455,036
10,964
4.86
%
Total interest-bearing liabilities
2,413,176
34,681
2.90
%
2,624,656
42,266
3.25
%
Non-interest-bearing liabilities
535,232
550,454
Total liabilities
2,948,408
3,175,110
Stockholders’ equity
307,085
319,340
Total liabilities and stockholders’ equity
$
3,255,493
$
3,494,450
Net interest income
$
46,182
$
45,107
Net interest rate spread (1)
2.33
%
1.97
%
Net interest margin (2)
2.99
%
2.70
%
(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 Second Quarter 2026 Results
August 3, 2026
Page
13
Financial Condition data by quarter
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
(In thousands, except book values)
Total assets
$
3,118,126
$
3,269,097
$
3,279,466
$
3,353,065
$
3,380,461
Cash and cash equivalents
196,887
293,737
276,584
249,614
206,852
Securities
152,279
143,092
135,567
125,292
140,025
Loans receivable, net
2,587,984
2,655,981
2,691,091
2,788,932
2,860,453
Deposits
2,636,023
2,672,429
2,673,573
2,687,387
2,661,534
Borrowings
168,335
268,272
278,210
323,922
378,722
Stockholders’ equity
291,919
307,380
304,284
318,453
315,735
Book value per common share (1)
$
14.73
$
16.25
$
16.15
$
17.02
$
16.89
Tangible book value per common share
(2)
$
14.73
$
15.95
$
15.85
$
16.71
$
16.59
Operating data by quarter
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
(In thousands, except for per share amounts)
Net interest income
$
23,345
$
22,837
$
24,223
$
23,711
$
23,102
Provision for credit losses
18,987
2,788
12,195
4,080
4,891
Non-interest (loss) income
(470
)
2,101
1,943
2,745
2,076
Non-interest expense
22,132
15,551
31,385
16,570
15,268
Income tax expense (benefit)
(3,468
)
1,695
(5,385
)
1,544
1,455
Net income (loss)
$
(14,776
)
$
4,904
$
(12,029
)
$
4,262
$
3,564
Net income (loss) per diluted share
$
(0.85
)
$
0.26
$
(0.73
)
$
0.22
$
0.18
Common Dividends declared per share
$
0.08
$
0.08
$
0.16
$
0.16
$
0.16
Financial Ratios(3)
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Return on average assets
(1.83
%)
0.61
%
(1.44
%)
0.50
%
0.42
%
Return on average stockholders’ equity
(19.22
%)
6.50
%
(14.99
%)
5.35
%
4.55
%
Net interest margin
3.03
%
2.95
%
3.03
%
2.88
%
2.80
%
Stockholders’ equity to total assets
9.36
%
9.40
%
9.28
%
9.50
%
9.34
%
Efficiency Ratio (4)
96.75
%
62.36
%
119.95
%
62.63
%
60.64
%
Asset Quality Ratios
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
(In thousands, except for ratio %)
Non-Accrual Loans (5)
$
72,011
$
59,805
$
63,255
$
93,517
$
101,764
Non-Accrual Loans as a % of Total Loans (5)
2.73
%
2.22
%
2.32
%
3.31
%
3.50
%
ACL as % of Non-Accrual Loans
62.5
%
54.5
%
53.3
%
40.4
%
49.8
%
Individually Analyzed Loans
$
124,832
$
160,600
$
162,226
$
129,358
$
153,428
Criticized Loans
206,975
208,339
170,875
220,768
229,929
Classified Loans (6)
160,454
194,662
188,876
228,255
266,847
Past Due loans (6)
122,759
107,947
99,132
174,006
110,971
(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.”
(5)
Non-Accrual loans include Held for Sale loan.
(6)
Classified and past due loans excludes Held for Sale loan.
BCBP Reports Second Quarter 2026 Results
August 3, 2026
Page
14
Recorded Investment in Loans Receivable by quarter
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
(In thousands)
Residential
one-to-four family
$
218,750
$
223,708
$
226,708
$
227,140
$
230,917
Commercial and multi-family
2,009,865
2,021,827
2,040,768
2,080,088
2,088,117
Canabis related
69,190
68,876
69,293
69,102
103,007
Construction
33,298
68,362
68,521
105,980
111,370
Commercial business
157,523
160,088
168,459
192,762
224,800
Business Express
68,949
71,215
74,862
78,253
81,521
Home equity
73,935
72,716
74,332
73,566
71,587
Consumer
3,401
3,584
3,580
2,042
2,075
$
2,634,911
$
2,690,376
$
2,726,523
$
2,828,933
$
2,913,394
Less:
Deferred loan fees, net
(1,947
)
(1,817
)
(1,741
)
(2,198
)
(2,283
)
Allowance for credit losses on loans
(44,980
)
(32,578
)
(33,691
)
(37,803
)
(50,658
)
Total loans, net
$
2,587,984
$
2,655,981
$
2,691,091
$
2,788,932
$
2,860,453
Non-Accruing Loans in Portfolio by quarter
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
(In thousands)
Residential
one-to-four family
$
1,515
$
1,576
$
1,554
$
1,410
$
1,436
Commercial and multi-family
54,478
52,297
52,159
70,546
57,969
Canabis related
—
—
—
—
33,512
Construction (1)
13,364
3,173
4,897
2,310
586
Commercial business
2,397
2,418
3,725
17,442
6,392
Business Express
—
—
626
1,335
1,377
Home equity
257
341
294
474
492
Consumer
—
—
—
—
—
Total:
$
72,011
$
59,805
$
63,255
$
93,517
$
101,764
(1) Includes Held for Sale
loan
Distribution of Deposits by quarter
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
(In thousands)
Demand:
Non-Interest Bearing
$
514,648
$
521,317
$
531,140
$
536,908
$
539,093
Interest Bearing
517,627
511,465
501,172
477,427
503,336
Money Market
446,918
448,397
426,138
422,424
428,397
Sub-total:
$
1,479,193
$
1,481,179
$
1,458,450
$
1,436,759
$
1,470,826
Savings and Club
230,532
240,048
243,670
254,554
258,585
Certificates of Deposit
926,298
951,202
971,453
996,074
932,123
Total Deposits:
$
2,636,023
$
2,672,429
$
2,673,573
$
2,687,387
$
2,661,534
BCBP Reports Second Quarter 2026 Results
August 3, 2026
Page
15
Reconciliation of GAAP to Non-GAAP Financial Measures by quarter
Tangible Book Value per Share
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
(In thousands, except per share amounts)
Total Stockholders’ Equity
$
291,919
$
307,380
$
304,284
$
318,453
$
315,735
Less: goodwill
—
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
266,676
276,884
273,788
287,957
285,239
Common shares outstanding
18,102
17,359
17,274
17,228
17,194
Book value per common share
$
14.73
$
16.25
$
16.15
$
17.02
$
16.89
Tangible book value per common share
$
14.73
$
15.95
$
15.85
$
16.71
$
16.59
Efficiency Ratios
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
(In thousands, except for ratio %)
Net interest income
$
23,345
$
22,837
$
24,223
$
23,711
$
23,102
Non-interest (loss)income
(470
)
2,101
1,943
2,745
2,076
Total income
22,875
24,938
26,166
26,456
25,178
Non-interest expense
22,132
15,551
31,385
16,570
15,268
Efficiency Ratio
96.75
%
62.36
%
119.95
%
62.63
%
60.64
%
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v3.26.1
Document and Entity Information
Aug. 03, 2026
Cover [Abstract]
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Document Period End Date
Aug. 03, 2026
Entity Incorporation State Country Code
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Entity File Number
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Entity Tax Identification Number
26-0065262
Entity Address, Address Line One
104-110 Avenue C
Entity Address, City or Town
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Entity Address, State or Province
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Entity Address, Postal Zip Code
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City Area Code
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Local Phone Number
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