BCB Bancorp Q1 net income falls to $8.1M; EPS $0.46 vs $0.56 YoY

BCB BANCORP INC

2023-Q1 EPS reported $0.46

Net income $8.1M, diluted EPS $0.46; adjusted EPS $0.60 excluding unrealized losses on equity investments.
Net interest margin 3.15%, down from 3.46% a year ago; net interest income up 9.6% to $27.5M.
Loans grew 6.1% QoQ to $3.232B; deposits up 2% to $2.867B.
Provision for loan losses $622K vs credit of $2.6M in Q1 2022; CECL adoption reduced ACL by $4.2M Day One.
Non-accrual loans 0.16% of gross loans; quarterly dividend declared $0.16 per share.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BCB BANCORP INC reported quarter ended March 31, 2023 results: net income $8.1 million, EPS $0.46.

Period: quarter ended March 31, 2023
Net income: $8.1 million
EPS: $0.46
Result: reported results

Exact text from the filing

BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding company for BCB Community Bank (the “Bank”), today reported net income of $8.1 million for the first quarter of 2023, compared to $12.1 million in the fourth quarter of 2022, and $10.0 million for the first quarter of 2022. Earnings per diluted share for the first quarter of 2023 were $0.46, compared to $0.69 in the preceding quarter and $0.56 in the first quarter of 2022.

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Source: SEC EDGAR

accession 0001193125-23-113068

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