---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-017542"
form_type: "8-K"
ticker: null
cik: "0001846017"
company_name: "Blue Foundry Bancorp"
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T09:51:10.275032+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-24-017542
- form_type: 8-K
- cik: 0001846017
- company_name: Blue Foundry Bancorp
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1846017/000162828024017542/0001628280-24-017542-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1846017/000162828024017542/blue-20240424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-017542
- JSON: https://secwatch.observer/filing/0001628280-24-017542.json
- Plain text: https://secwatch.observer/filing/0001628280-24-017542.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846017/000162828024017542/0001628280-24-017542-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.