BCB Bancorp Q1 net income $5.9M ($0.32 EPS); non-accrual loans surge to $22.2M

BCB BANCORP INC

2024-Q1 EPS reported $0.32

Net income of $5.9M ($0.32 diluted EPS) vs $6.1M ($0.35) prior Q and $8.1M ($0.46) a year ago.
Net interest margin fell to 2.50% from 3.15% a year ago; cost of funds rose 130 bps to 3.54%.
Non-accrual loans jumped to $22.2M (0.68% of loans) from $5.1M (0.16%) in Q1 2023.
Provision for credit losses $2.1M, up from $622K a year ago; net charge-offs $1.1M vs net recoveries.
Declared $0.16 quarterly dividend, unchanged, payable May 17, 2024 to holders of record May 3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BCB BANCORP INC reported the quarter ended March 31, 2024 results: net income $5.9 million, EPS $0.32.

Period: the quarter ended March 31, 2024
Net income: $5.9 million
EPS: $0.32
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 $5.9 million for the first quarter of 2024, compared to $6.1 million in the fourth quarter of 2023, and $8.1 million for the first quarter of 2023. Earnings per diluted share for the first quarter of 2024 were $0.32, compared to $0.35 in the preceding quarter and $0.46 in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001193125-24-102897

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