BCB Bancorp Inc. Files 10-Q for Q1 2024
Ticker: BCBP · Form: 10-Q · Filed: May 6, 2024 · CIK: 1228454
Sentiment: neutral
Topics: 10-Q, BCB Bancorp, Financials, Equity, Preferred Stock
TL;DR
<b>BCB Bancorp Inc. filed its Q1 2024 10-Q, detailing financial components and equity plans.</b>
AI Summary
BCB BANCORP INC (BCBP) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. BCB Bancorp Inc. filed its 10-Q report for the period ending March 31, 2024. The filing includes data related to treasury stock, retained earnings, additional paid-in capital, and accumulated other comprehensive income as of various dates in 2023 and 2024. Information on equity incentive plans from 2011, 2018, and 2023 is referenced. Details regarding Series J Preferred Stock and Series H Preferred Stock are included, with specific dates of issuance or reporting. The company's fiscal year ends on December 31st, and it is incorporated in New Jersey.
Why It Matters
For investors and stakeholders tracking BCB BANCORP INC, this filing contains several important signals. This 10-Q filing provides a snapshot of BCB Bancorp's financial health and equity structure as of the end of the first quarter of 2024, crucial for investors assessing performance and stability. The inclusion of specific preferred stock series and equity incentive plan details offers insight into the company's capital management and long-term incentive strategies.
Risk Assessment
Risk Level: low — BCB BANCORP INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.
Analyst Insight
Monitor future filings for trends in retained earnings, treasury stock, and preferred stock activity to gauge financial strategy and capital structure changes.
Key Numbers
- 2024-03-31 — As of Date (Treasury Stock Common Member)
- 2023-12-31 — As of Date (Treasury Stock Common Member)
- 2023-03-31 — As of Date (Treasury Stock Common Member)
- 2022-12-31 — As of Date (Treasury Stock Common Member)
- 2022-03-31 — As of Date (Treasury Stock Common Member)
- 2021-12-31 — As of Date (Treasury Stock Common Member)
- 2024-03-29 — Date (Series J Preferred Stock Member)
- 2023-12-14 — Date (Series J Preferred Stock Member)
Key Players & Entities
- BCB BANCORP INC (company) — Filer
- 2024-03-31 (date) — Period of report
- 2024-05-06 (date) — Filed as of date
- NJ (location) — State of incorporation
- 104-110 AVENUE C (address) — Business street address
- BAYONNE (location) — Business city
- 07002 (postal_code) — Business zip code
- 201-823-0700 (phone_number) — Business phone
FAQ
When did BCB BANCORP INC file this 10-Q?
BCB BANCORP INC filed this Quarterly Report (10-Q) with the SEC on May 6, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by BCB BANCORP INC (BCBP).
Where can I read the original 10-Q filing from BCB BANCORP INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BCB BANCORP INC.
What are the key takeaways from BCB BANCORP INC's 10-Q?
BCB BANCORP INC filed this 10-Q on May 6, 2024. Key takeaways: BCB Bancorp Inc. filed its 10-Q report for the period ending March 31, 2024.. The filing includes data related to treasury stock, retained earnings, additional paid-in capital, and accumulated other comprehensive income as of various dates in 2023 and 2024.. Information on equity incentive plans from 2011, 2018, and 2023 is referenced..
Is BCB BANCORP INC a risky investment based on this filing?
Based on this 10-Q, BCB BANCORP INC presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.
What should investors do after reading BCB BANCORP INC's 10-Q?
Monitor future filings for trends in retained earnings, treasury stock, and preferred stock activity to gauge financial strategy and capital structure changes. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
- 2024-05-06: Filing Date — Date the 10-Q was officially filed with the SEC.
Filing Stats: 4,560 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-05-06 11:24:52
Filing Documents
- bcbp-20240331x10q.htm (10-Q) — 7374KB
- bcbp-20240331xex31_1.htm (EX-31.1) — 20KB
- bcbp-20240331xex31_2.htm (EX-31.2) — 20KB
- bcbp-20240331xex32.htm (EX-32) — 15KB
- 0001228454-24-000006.txt ( ) — 29936KB
- bcbp-20240331.xsd (EX-101.SCH) — 42KB
- bcbp-20240331_cal.xml (EX-101.CAL) — 98KB
- bcbp-20240331_def.xml (EX-101.DEF) — 205KB
- bcbp-20240331_lab.xml (EX-101.LAB) — 434KB
- bcbp-20240331_pre.xml (EX-101.PRE) — 419KB
- bcbp-20240331x10q_htm.xml (XML) — 9776KB
CONSOLIDATED FINANCIAL INFORMATION
PART I. CONSOLIDATED FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements Consolidated Statements of Financial Condition as of March 31, 2024 (unaudited) and December 31, 2023 (unaudited) 1 Consolidated Statements of Income for the three months ended March 31, 2024, 2023 and 2022 (unaudited) 2 Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024, 2023 and 2022 (unaudited) 3 Consolidated Statement of Changes in Stockholders' Equity for the three months ended March 31, 2024, 2023 and 2022 (unaudited) 4 Consolidated Statements of Cash Flows for the three months ended March 31, 2024, 2023 and 2022 (unaudited) 5 Notes to Unaudited Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 31
Controls and Procedures
Item 4. Controls and Procedures 31
OTHER INFORMATION
PART II. OTHER INFORMATION 32
Legal Proceedings
Item 1. Legal Proceedings 32
Risk Factors
Item 1A. Risk Factors 32
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 32
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 32
Other Information
Item 5. Other Information 32
Exhibits
Item 6. Exhibits 33
CONSOLIDATED FINANCIAL INFORMATION
PART I. CONSOLIDATED FINANCIAL INFORMATION ITEM I. CONSOLIDATED FINANCIAL STATEMENTS BCB BANCORP INC. AND SUBSIDIARIES Consolidated Statements of Financial Condition (In thousands, Except Share and Per Share Data, Unaudited) March 31, December 31, 2024 2023 ASSETS Cash and amounts due from depository institutions $ 11,795 $ 16,597 Interest-earning deposits 340,653 262,926 Total cash and cash equivalents 352,448 279,523 Interest-earning time deposits 735 735 Debt securities available for sale, at fair value 86,966 87,769 Equity investments, at fair value 9,223 9,093 Loans held for sale - 1,287 Loans receivable, net of allowance for credit losses of $ 34,563 and $ 33,608 respectively 3,226,877 3,279,708 Federal Home Loan Bank of New York stock, at cost 24,917 24,917 Premises and equipment, net 12,744 13,057 Accrued interest receivable 17,442 16,072 Deferred income taxes, net 17,555 18,213 Goodwill and other intangibles 5,253 5,253 Operating lease right-of-use assets 12,186 12,935 Bank-owned life insurance ("BOLI") 74,081 73,407 Other assets 8,768 10,428 Total Assets $ 3,849,195 $ 3,832,397 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Non-interest-bearing deposits $ 531,112 $ 536,264 Interest-bearing deposits 2,460,547 2,442,816 Total deposits 2,991,659 2,979,080 FHLB advances 472,949 472,811 Subordinated debentures 37,624 37,624 Operating lease liability 12,579 13,315 Other liabilities 14,253 15,512 Total Liabilities 3,529,064 3,518,342 STOCKHOLDERS' EQUITY Preferred stock: $ 0.01 par value, 10,000,000 shares authorized; issued and outstanding 2,797 shares Series I 3.0 % and Series J 8.0 % (liquidation value $ 10,000 per share) noncumulative perpetual preferred stock at March 31, 2024 and 2,528 shares of Series I 3.0 % and Series J 8.0 % (liquidation value $ 10,000 per share) n