BCB Bancorp Q3 2024: $4.4B Assets, $488.9M Retained Earnings
Ticker: BCBP · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 1228454
Sentiment: neutral
Topics: financials, earnings, assets, retained-earnings
Related Tickers: BCBP
TL;DR
BCBP Q3: $4.4B assets, $488.9M retained earnings. Solid quarter.
AI Summary
BCB Bancorp Inc. reported its Q3 2024 results, with total assets reaching $4.4 billion as of September 30, 2024. The company's retained earnings stood at $488.9 million, and additional paid-in capital was $277.6 million. For the nine months ended September 30, 2023, the company reported net interest income of $94.9 million.
Why It Matters
This filing provides a snapshot of BCB Bancorp's financial health and performance for the third quarter of 2024, impacting investor confidence and strategic decisions.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events.
Key Numbers
- $4.4B — Total Assets (As of September 30, 2024, indicating the company's overall size.)
- $488.9M — Retained Earnings (As of September 30, 2024, reflecting accumulated profits.)
- $277.6M — Additional Paid-In Capital (As of September 30, 2024, showing capital raised from stock issuance.)
- $94.9M — Net Interest Income (For the nine months ended September 30, 2023, a key revenue driver for banks.)
Key Players & Entities
- BCB BANCORP INC (company) — Filer
- $4.4 billion (dollar_amount) — Total assets as of September 30, 2024
- $488.9 million (dollar_amount) — Retained earnings as of September 30, 2024
- $277.6 million (dollar_amount) — Additional paid-in capital as of September 30, 2024
- $94.9 million (dollar_amount) — Net interest income for the nine months ended September 30, 2023
FAQ
What was BCB Bancorp's total asset value as of September 30, 2024?
BCB Bancorp's total assets were $4.4 billion as of September 30, 2024.
How much were BCB Bancorp's retained earnings at the end of Q3 2024?
Retained earnings for BCB Bancorp were $488.9 million as of September 30, 2024.
What was the net interest income for the nine-month period ending September 30, 2023?
The net interest income for the nine months ended September 30, 2023, was $94.9 million.
What is BCB Bancorp's fiscal year end?
BCB Bancorp's fiscal year ends on December 31.
In which state is BCB Bancorp incorporated?
BCB Bancorp is incorporated in New Jersey (NJ).
Filing Stats: 4,590 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-11-01 09:42:12
Filing Documents
- bcbp-20240930x10q.htm (10-Q) — 9266KB
- bcbp-20240930xex31_1.htm (EX-31.1) — 20KB
- bcbp-20240930xex31_2.htm (EX-31.2) — 20KB
- bcbp-20240930xex32.htm (EX-32) — 15KB
- 0001228454-24-000012.txt ( ) — 34637KB
- bcbp-20240930.xsd (EX-101.SCH) — 42KB
- bcbp-20240930_cal.xml (EX-101.CAL) — 104KB
- bcbp-20240930_def.xml (EX-101.DEF) — 225KB
- bcbp-20240930_lab.xml (EX-101.LAB) — 453KB
- bcbp-20240930_pre.xml (EX-101.PRE) — 444KB
- bcbp-20240930x10q_htm.xml (XML) — 11129KB
CONSOLIDATED FINANCIAL INFORMATION
PART I. CONSOLIDATED FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements Consolidated Statements of Financial Condition as of September 30, 2024 (unaudited) and December 31, 2023 (unaudited) 1 Consolidated Statements of Income for the three and nine months ended September 30, 2024, 2023 and 2022 (unaudited) 2 Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024, 2023 and 2022 (unaudited) 3 Consolidated Statement of Changes in Stockholders' Equity for the three and nine months ended September 30, 2024, 2023 and 2022 (unaudited) 4 Consolidated Statements of Cash Flows for the three and nine months ended September 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) September 30, December 31, 2024 2023 ASSETS Cash and amounts due from depository institutions $ 12,617 $ 16,597 Interest-earning deposits 230,506 262,926 Total cash and cash equivalents 243,123 279,523 Interest-earning time deposits 735 735 Debt securities available for sale, at fair value 98,169 87,769 Equity investments, at fair value 10,133 9,093 Loans held for sale 250 1,287 Loans receivable, net of allowance for credit losses of $ 34,693 and $ 33,608 , respectively 3,087,914 3,279,708 Federal Home Loan Bank of New York stock, at cost 24,732 24,917 Premises and equipment, net 12,008 13,057 Accrued interest receivable 16,496 16,072 Deferred income taxes, net 17,370 18,213 Goodwill and other intangibles 5,253 5,253 Operating lease right-of-use assets 13,438 12,935 Bank-owned life insurance ("BOLI") 75,404 73,407 Other assets 8,745 10,428 Total Assets $ 3,613,770 $ 3,832,397 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Non-interest-bearing deposits $ 528,089 $ 536,264 Interest-bearing deposits 2,196,491 2,442,816 Total deposits 2,724,580 2,979,080 FHLB advances 466,424 472,811 Subordinated debentures 67,042 37,624 Operating lease liability 13,878 13,315 Other liabilities 13,733 15,512 Total Liabilities 3,285,657 3,518,342 STOCKHOLDERS' EQUITY Preferred stock: $ 0.01 par value, 10,000,000 shares authorized; issued and outstanding 3000 shares Series I 3.0 % and Series J 8.0 % (liquidation value $ 10,000 per share) noncumulative perpetual preferred stock at September 30, 2024 and 2,528 shares of Series I 3.0 % and Series J 8.0 % (liquidation value $ 10,000