Blue Foundry reports Q1 net loss of $2.8M; deposits up $46.3M, NIM expands to 1.92%

Blue Foundry Bancorp

2024-Q1 EPS reported -$0.13

Net loss of $2.8M ($0.13 EPS) vs. net loss of $1.2M ($0.05 EPS) in Q1 2023.
Deposits increased $46.3M (3.7%) from prior quarter; uninsured deposits only 10% of total.
Net interest margin expanded 8 bps to 1.92%; interest income up $507K.
Provision for credit losses released $535K due to improved forecast and lower portfolio balances.
Repurchased 532K shares under new program; tangible book value per share $14.60.

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

Blue Foundry Bancorp reported the three months ended March 31, 2024 results: net income net loss of $2.8 million, or $0.13 per diluted common share, EPS $0.13 per diluted common share.

Period: the three months ended March 31, 2024
Net income: net loss of $2.8 million, or $0.13 per diluted common share
EPS: $0.13 per diluted common share
Result: reported results

Exact text from the filing

Blue Foundry Bancorp Reports First Quarter 2024 Results RUTHERFORD, NJ, April 24, 2024 — Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $2.8 million, or $0.13 per diluted common share, for the three months ended March 31, 2024

View on SEC.gov

493 earnings releases filed in the last 30 days. Browse all earnings releases →

Source: SEC EDGAR

accession 0001628280-24-017542

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.