BCB Bancorp Q2 2024 Update: Stock and Earnings Details
Ticker: BCBP · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 1228454
Sentiment: neutral
Topics: quarterly-report, financials, stock-transactions, executive-compensation
Related Tickers: BCBP
TL;DR
**BCBP Q2 earnings out: Stock changes and executive grants detailed.**
AI Summary
BCB Bancorp Inc. reported its financial results for the quarter ended June 30, 2024. The filing details changes in retained earnings, treasury stock, and additional paid-in capital. Specific stock transactions for executive officers and directors, including restricted stock grants, were also disclosed on dates such as April 25, 2024, and June 30, 2023.
Why It Matters
This filing provides insight into BCB Bancorp's financial health and executive compensation practices, which can influence investor confidence and stock performance.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.
Key Numbers
- Q2 2024 — Reporting Period (Quarterly financial results)
- 2024-06-30 — Balance Sheet Date (As of this date, financial positions are reported.)
Key Players & Entities
- BCB BANCORP INC (company) — Filer
- 20240630 (date) — Reporting Period End Date
- 20240802 (date) — Filing Date
- 2024-04-25 (date) — Restricted Stock Grant Date
- 2023-06-30 (date) — Prior Year Restricted Stock Grant Date
FAQ
What were the key changes in BCB Bancorp's equity accounts for the quarter ended June 30, 2024?
The filing indicates changes in Treasury Stock, Retained Earnings, Additional Paid-In Capital, and Accumulated Other Comprehensive Income as of June 30, 2024.
Were there any stock-related transactions involving executives or directors during the reported period?
Yes, the filing notes restricted stock grants to executive officers and directors on dates such as April 25, 2024, and June 30, 2023.
What is the primary business of BCB Bancorp Inc.?
BCB Bancorp Inc. is identified as a federally chartered savings institution.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on August 2, 2024.
What fiscal year end does BCB Bancorp Inc. observe?
BCB Bancorp Inc.'s fiscal year ends on December 31.
Filing Stats: 4,639 words · 19 min read · ~15 pages · Grade level 16.8 · Accepted 2024-08-02 10:20:03
Filing Documents
- bcbp-20240630x10q.htm (10-Q) — 9219KB
- bcbp-20240630xex31_1.htm (EX-31.1) — 20KB
- bcbp-20240630xex31_2.htm (EX-31.2) — 20KB
- bcbp-20240630xex32.htm (EX-32) — 15KB
- 0001228454-24-000009.txt ( ) — 34633KB
- bcbp-20240630.xsd (EX-101.SCH) — 42KB
- bcbp-20240630_cal.xml (EX-101.CAL) — 99KB
- bcbp-20240630_def.xml (EX-101.DEF) — 220KB
- bcbp-20240630_lab.xml (EX-101.LAB) — 441KB
- bcbp-20240630_pre.xml (EX-101.PRE) — 437KB
- bcbp-20240630x10q_htm.xml (XML) — 11179KB
CONSOLIDATED FINANCIAL INFORMATION
PART I. CONSOLIDATED FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements Consolidated Statements of Financial Condition as of June 30, 2024 (unaudited) and December 31, 2023 (unaudited) 1 Consolidated Statements of Income for the three and six months ended June 30, 2024, 2023 and 2022 (unaudited) 2 Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024, 2023 and 2022 (unaudited) 3 Consolidated Statement of Changes in Stockholders' Equity for the three and six months ended June 30, 2024, 2023 and 2022 (unaudited) 4 Consolidated Statements of Cash Flows for the three and six months ended June 30, 2024, 2023 and 2022 (unaudited) 7 Notes to Unaudited Consolidated Financial Statements 8
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 28
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 34
Controls and Procedures
Item 4. Controls and Procedures 34
OTHER INFORMATION
PART II. OTHER INFORMATION 35
Legal Proceedings
Item 1. Legal Proceedings 35
Risk Factors
Item 1A. Risk Factors 35
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 35
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 35
Other Information
Item 5. Other Information 35
Exhibits
Item 6. Exhibits 36
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) June 30, December 31, 2024 2023 ASSETS Cash and amounts due from depository institutions $ 11,146 $ 16,597 Interest-earning deposits 315,724 262,926 Total cash and cash equivalents 326,870 279,523 Interest-earning time deposits 735 735 Debt securities available for sale, at fair value 85,964 87,769 Equity investments, at fair value 9,001 9,093 Loans held for sale 35,187 1,287 Loans receivable, net of allowance for credit losses of $ 35,243 and $ 33,608 , respectively 3,161,925 3,279,708 Federal Home Loan Bank of New York stock, at cost 25,001 24,917 Premises and equipment, net 12,346 13,057 Accrued interest receivable 16,576 16,072 Deferred income taxes, net 17,227 18,213 Goodwill and other intangibles 5,253 5,253 Operating lease right-of-use assets 13,556 12,935 Bank-owned life insurance ("BOLI") 74,752 73,407 Other assets 9,548 10,428 Total Assets $ 3,793,941 $ 3,832,397 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Non-interest-bearing deposits $ 523,816 $ 536,264 Interest-bearing deposits 2,411,423 2,442,816 Total deposits 2,935,239 2,979,080 FHLB advances 473,086 472,811 Subordinated debentures 37,624 37,624 Operating lease liability 13,973 13,315 Other liabilities 13,287 15,512 Total Liabilities 3,473,209 3,518,342 STOCKHOLDERS' EQUITY Preferred stock: $ 0.01 par value, 10,000,000 shares authorized; issued and outstanding 2,864 shares Series I 3.0 % and Series J 8.0 % (liquidation value $ 10,000 per share) noncumulative perpetual preferred stock at June 30, 2024 and 2,528 shares of Series I 3.0 % and Series J 8.0 % (liquidation value $ 10,000 per sha