UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended
Or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ___________ to ___________
Commission File Number:
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation or organization) |
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(Address of principal executive offices) |
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(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year if changed since last report)
Securities registered pursuant to section 12(b) of the Securities and Exchange Act of 1934:
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Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. T
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). x
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.
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Large Accelerated Filer | o |
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Non-Accelerated Filer | o |
| Smaller Reporting Company | |
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| 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. ¨
Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act). o Yes
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. As of November 1, 2023, BCB Bancorp, Inc., had
BCB BANCORP INC. AND SUBSIDIARIES
INDEX
PART I. CONSOLIDATED FINANCIAL INFORMATION
ITEM I. CONSOLIDATED FINANCIAL STATEMENTS
BCB BANCORP INC. AND SUBSIDIARIES
Consolidated Statements of Financial Condition
(In thousands, Except Share and Per Share Data, Unaudited)
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| September 30, |
| December 31, | ||
| 2023 |
| 2022 | ||
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ASSETS |
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Cash and amounts due from depository institutions | $ | |
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Interest-earning deposits |
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Total cash and cash equivalents |
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Interest-earning time deposits |
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Debt securities available for sale |
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Equity investments |
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Loans held for sale |
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Loans receivable, net of allowance for credit losses |
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of $ |
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Federal Home Loan Bank of New York stock, at cost |
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Premises and equipment, net |
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Accrued interest receivable |
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Other real estate owned |
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Deferred income taxes |
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Goodwill and other intangibles |
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Operating lease right-of-use assets |
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Bank-owned life insurance ("BOLI") |
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Other assets |
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Total Assets | $ | |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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LIABILITIES |
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Non-interest -bearing deposits | $ | |
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Interest bearing deposits |
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Total deposits |
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FHLB advances |
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Subordinated debentures |
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Operating lease liability |
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Other liabilities |
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Total Liabilities |
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STOCKHOLDERS' EQUITY |
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Preferred stock: $ |
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Additional paid-in capital preferred stock |
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Common stock: |
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Additional paid-in capital common stock |
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Retained earnings |
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Accumulated other comprehensive loss |
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Treasury stock, at cost, |
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Total Stockholders' Equity |
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Total Liabilities and Stockholders' Equity | $ | |
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See accompanying notes to unaudited consolidated financial statements
(1)
BCB BANCORP INC. AND SUBSIDIARIES
Consolidated Statements of Income
(In thousands, Except for Per Share Amounts, Unaudited)
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| Three Months Ended September 30, |
| Nine Months Ended September 30, | ||||||||
| 2023 |
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| 2022 | |||
Interest and dividend income: |
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Loans, including fees | $ | |
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Mortgage-backed securities |
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Other investment securities |
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FHLB stock and other interest earning assets |
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Total interest income |
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Interest expense: |
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Deposits: |
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Demand |
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Savings and club |
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Certificates of deposit |
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Borrowings |
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Total interest expense |
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Net interest income |
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Provision (benefit) for credit losses (1) |
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Net interest income after (provision) benefit for credit losses |
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Non-interest income: |
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Fees and service charges |
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BOLI income |
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Gain on sales of loans |
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Realized and unrealized losses on equity investments |
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Other |
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Total non-interest income |
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Non-interest expense: |
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Salaries and employee benefits |
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Occupancy and equipment |
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Data processing and communications |
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Professional fees |
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Director fees |
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Regulatory assessments |
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Advertising and promotional |
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Other real estate owned, net |
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Other |
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Total non-interest expense |
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Income before income tax provision |
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Income tax provision |
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