secwatch.observer — SEC 8-K summary
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Issuer:     Blue Foundry Bancorp (—)
CIK:        0001846017
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001628280-24-017542
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846017/000162828024017542/0001628280-24-017542-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846017/000162828024017542/blue-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-017542

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer