BCB Bancorp reports Q1 net loss of $8.3M; credit charges surge to $20.8M

BCB BANCORP INC

2025-Q1 EPS reported -$0.51

Net loss of $8.3M vs net income of $5.9M in Q1 2024; diluted EPS ($0.51) vs $0.32.
Provision for credit losses $20.8M (Q1 2024: $2.1M); $13.7M specific reserve on $34.2M cannabis-sector loan, plus $3.1M on Business Express portfolio.
Non-accrual loans jumped to $99.8M (3.36% of gross loans) from $22.2M (0.68%) a year ago.
Net interest margin improved to 2.59% from 2.50% due to 24 bp decline in cost of interest-bearing liabilities.
Board declared $0.16/share quarterly dividend, payable May 21, 2025 to holders of record May 7, 2025.

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