BCB BANCORP INC
For the period ended Mar 31, 2026. Filed May 1, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 1, 2026
BCBP$9.17+0.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-05.
0001228454-25-000015
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-01.
0001228454-26-000006
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 107 previous paragraphs and 96 current paragraphs.
70 unchanged; 16 reworded; 10 added; 17 removed; 4 previous and 0 current paragraphs rearranged.
Tables are not compared: 5 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (10)
Current report
failure to identify and adequately and promptly address cybersecurity risks, including data breaches and cyberattacks;
Current report
developments in technology, such as artificial intelligence, and our ability to incorporate innovative technologies in our business and provide products and services that satisfy our customers’ expectations for convenience and security;
Current report
Total assets decreased by $10.4 million, or 0.3 percent, to $3.269 billion at March 31, 2026, from $3.280 billion at December 31, 2025. This decrease is the result of fewer net loans, offset by an increase in cash and cash equivalents.
Current report
Total cash and cash equivalents increased by $17.2 million, or 6.2 percent, to $293.7 million at March 31, 2026, from $276.6 million at December 31, 2025. The increase in cash was primarily due to loan cash flows.
Current report
Stockholders’ equity increased by $3.1 million, or 1.0 percent, to $307.4 million at March 31, 2026, from $304.3 million at December 31, 2025. The increase was attributable to retained earnings, which increased $3.0 million.
Current report
The Company reported net income of $4.9 million for the quarter ended March 31, 2026, compared to a net loss of $8.3 million for the quarter ended March 31, 2025. This increase was due to the Bank recording $18.1 million less in loan loss provisioning, offset by the Bank recording $5.1 million more in income taxes.
Current report
Interest income decreased by $3.8 million, or 8.6 percent, to $40.4 million for the first quarter of 2026 from $44.2 million for the first quarter of 2025. The average balance of interest-earning assets decreased $299.2 million, or 8.7 percent, to $3.144 billion for the first quarter of 2026 from $3.444 billion for the first quarter of 2025. The average yield increased 1 basis point to 5.21 percent for the first quarter of 2026 from 5.20 percent for the first quarter of 2025.
Current report
(2) Borrower has two loans that are classified and collectively add up to greater than $5 million.
Current report
(3) Borrower has three loans that are classified and collectively add up to greater than $5 million
Current report
The income tax provision increased by $5.1 million, to an income tax expense of $1.7 million for the first quarter of 2026 when compared to a income tax benefit of $3.4 million for the first quarter of 2025.
Removed paragraphs (17)
Previous report
The Company reported a net loss in the first quarter of 2025 and observed a sustained decline in its stock price. The Company established a $13.7 million specific reserve tied to a relationship in the cannabis sector and increased its reserves for the discontinued Business Express Loan portfolio by $3.1 million during the first quarter. These two actions contributed to an elevated level of loan loss provisioning expense that resulted in the net loss for the quarter. Management believes that the credit quality headwinds are temporary and the long-term earnings power of the Company maintains a positive outlook. However, management considered this a potential triggering event under ASC 350-20-35-30, which requires an interim impairment assessment of goodwill.
Previous report
In response, the Company performed a quantitative goodwill impairment test to determine whether it was more likely than not that the fair value of the reporting unit was less than its carrying amount. The analysis incorporated management’s updated forecasts, market conditions, and other relevant factors. To estimate fair value, the Company employed a multi-faceted valuation framework consistent with how market participants would evaluate a financial services business in a change of control scenario. The Company developed four primary valuation estimates that employed income and market approach scenarios. The income approach scenario relies on the long-term net income forecast for the Company whereas the market approach relies on various changes of control premium methodologies. To arrive at a conclusion of fair value, the Company utilized these multiple valuation approaches and then applied weight factors to each result. Weight factors represent the Company’s best business judgment of the weights a market participants would utilize to arrive at a fair value for the reporting unit. The analysis resulted in the Company’s fair value exceeding its carrying value resulting in no impairment charge for the period.
Previous report
Total assets decreased by $246.0 million, or 6.8 percent, to $3.353 billion at September 30, 2025, from $3.599 billion at December 31, 2024. The decrease in total assets was mainly related to a decrease in net loans and cash and cash equivalents.
Previous report
Total cash and cash equivalents decreased by $67.7 million, or 21.3 percent, to $249.6 million at September 30, 2025, from $317.3 million at December 31, 2024. The decrease in cash was primarily due to the reduction of the Bank’s exposure to wholesale funding by paying down high cost brokered deposits and FHLB advances.
Previous report
Stockholders’ equity decreased by $5.5 million, or 1.7 percent, to $318.5 million at September 30, 2025, from $323.9 million at December 31, 2024. The decrease was attributable to the decrease in retained earnings of $10.2 million, or 7.2 percent, to $131.7 million at September 30, 2025 from $141.9 million at December 31, 2024 caused largely by regular dividend payments and the $8.3 million loss in the first quarter of 2025 due to additions to the allowance for credit losses, which resulted in a $498,000 net loss for the nine month period. Offsetting this was a decrease in accumulated other comprehensive loss and an increase in additional paid in capital.
Previous report
(3)Annualized.
Previous report
(5)Includes non-accrual loans.
Previous report
Net income was $4.3 million for the quarter ended September 30, 2025, and $6.7 million for the quarter ended September 30, 2024. This decrease was due to $1.2 million more in credit loss provisioning and $2.6 million more in non-interest expense for the third quarter of 2025 compared to the third quarter of 2024. This was offset by $1.1 million less in income tax provisioning and $666 thousand more in net interest income for the same period.
Previous report
Interest income decreased by $5.6 million, or 11.5 percent, to $43.0 million for the third quarter of 2025 from $48.6 million for the third quarter of 2024. The average balance of interest-earning assets decreased $313.5 million, or 8.8 percent, to $3.265 billion for the third quarter of 2025 from $3.579 billion for the third quarter of 2024, while the average yield decreased 21 basis points to 5.23 percent for the third quarter of 2025 from 5.44 percent for the third quarter of 2024.
Previous report
The income tax provision decreased by $1.1 million, to $1.5 million for the third quarter of 2025 from $2.7 million for the third quarter of 2024. The consolidated effective tax rate was 26.6 percent forthe third quarter of 2025 compared to 28.7 percent for the third quarter of 2024.
Previous report
Net income decreased by $15.8 million to a loss of $498 thousand for the first nine months of 2025 from earnings of $15.4 million for the first nine months of 2024. The decrease in net income was driven, primarily, by provisioning for loan loss expense being $22.4 million higher, non-interest expense being $3.7 million higher and net interest income being $1.0 million lower. This was partly offset by the income tax provision being lower by $6.7 million and non-interest income being higher by $4.6 million.
Previous report
Net interest income was $1.0 million lower as interest income decreased by $16.9 million, or 11.5 percent, to $130.4 million for the first nine months of 2025, from $147.4 million for the first nine months of 2024. The average balance of interest-earning assets decreased $301.0 million, or 8.3 percent, to $3.338 billion for the first nine months of 2025, from $3.639 billion for the first nine months of 2024, while the average yield decreased 18 basis points to 5.22 percent from 5.40 percent for the comparable period. The decrease in interest earning assets was primarily a result of loans and interest-bearing bank balances declining $299.4 million and $34.0 million, respectively. This was offset by an increase in investment securities of $32.4 million. Offsetting the increase in interest income, interest expense decreased by $15.9 million, or 20.5 percent, to $61.6 million for 2025, from $77.5 million for 2024. This decrease resulted primarily from interest on deposits which decreased $13.4 million. Interest on borrowed money declined $2.5 million for the same period. Average deposits declined $208.0 million and the average rate paid on deposits declined 49 basis points to 2.87 percent from 3.36 percent. Average borrowed funds decreased $100.1 million for the same period. The average rate paid on borrowings increased by 30 basis points to 4.86 percent.
Previous report
Net interest margin increased to 2.76 percent for the first nine months of 2025, compared to 2.56 percent for the first nine months of 2024. The increase in the net interest margin compared to the prior period was the result of a decrease in the cost of the Company’s interest-bearing liabilities by 39 basis points to 3.19 percent. Offsetting that, somewhat, was a decrease in the rate earned on earning assets, which decreased 18 basis points to 5.22 percent.
Previous report
During the first nine months of 2025, the Company experienced $26.8 million in net charge offs compared to $6.3 million in net charge offs for the same period in 2024. The provision for credit losses increased from $7.4 million during the first nine months of 2024 to $29.8 million for the first nine months of 2025, primarily driven by a previously reported $13.7 million specific reserve tied to a $34.2 million loan in the cannabis sector. During the third quarter of 2025, this loan was charged off and the underlying collateral is now reported on the balance sheet as other real estate owned. The Company’s cannabis loan portfolio had a balance of $69.1 million as of the end of the third quarter of 2025. The cannabis industry is facing operating challenges and the Bank’s cannabis loan portfolio, largely secured by real estate, poses an increased amount of credit risk. The portfolio has some larger relationships that could require material reserves in future periods if the operating headwinds persist.
Previous report
Non-interest income increased by $4.6 million to $6.6 million for the first nine months of 2025 from $2.0 million for the first nine months of 2024. In 2024, the Bank recorded a loss on sale of loans of $4.8 million. BOLI and fees and service charges also increased $327 thousand and $259 thousand in 2025. Offsetting this was a decrease in 2025 on realized/unrealized income on equity investments of $913 thousand.
Previous report
Non-interest expense increased by $3.7 million, or 8.8 percent, to $46.5 million for the first nine months of 2025 from $42.8 million for the same period in 2024. The increase in operating expenses for 2025 was driven primarily by salaries and employee benefits which increased $2.3 million for the first nine months of 2025 compared to the same period in 2024 largely for the reasons set for the above in the three month comparison. Data processing costs and professional fees also increased by $731 thousand and $442 thousand, respectively.
Previous report
The income tax provision decreased by $6.7 million to an income tax benefit of $386 thousand for the first nine months of 2025 when compared to a $6.3 million provision for the same period in 2024. The decrease in the income tax provision was a result of the lower taxable income for the nine months ended September 30, 2025 compared to the same period in 2024.
Reworded paragraphs (16)
Previous wording
civil unrest in the communities that we serve;
Current wording
civil unrest in the communities that we serve; and
Previous wording
and other factors discussed elsewhere in this report, and in other reports we filed with the SEC, including under “Risk Factors” in Part I, Item 1A of our annual Report on Form 10-K, in Part II, Item 1A of our quarterly reports on Form 10-Q, and our other periodic reports that we file with the SEC.
Current wording
other factors discussed elsewhere in this report, and in other reports we filed with the SEC, including under “Risk Factors” in Part I, Item 1A of our annual Report on Form 10-K, in Part II, Item 1A of our quarterly reports on Form 10-Q, and our other periodic reports that we file with the SEC.
Previous wording
BCB Bancorp, Inc. is a New Jersey corporation, and is the holding company parent of BCB Community Bank, or the Bank. The Company has not engaged in any significant business activity other than owning all of the outstanding common stock of BCB Community Bank. Our executive office is located at 104-110 Avenue C, Bayonne, New Jersey 07002. At September 30, 2025, we had $3.353 billion in consolidated assets, $2.687 billion in deposits and $318.5 million in consolidated stockholders’ equity.
Current wording
BCB Bancorp, Inc. is a New Jersey corporation, and is the holding company parent of BCB Community Bank, or the Bank. The Company has not engaged in any significant business activity other than owning all of the outstanding common stock of BCB Community Bank. Our executive office is located at 104-110 Avenue C, Bayonne, New Jersey 07002. At March 31, 2026, we had $3.269 billion in consolidated assets, $2.672 billion in deposits and $307.4 million in consolidated stockholders’ equity.
Previous wording
See further discussion of this critical accounting estimate in Notes 2 and 7 of this Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31,2024.
Current wording
See further discussion of this critical accounting estimate in Notes 2 and 7 of this Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31,2025.
Previous wording
Loans receivable, net, decreased by $207.3 million, or 6.9 percent, to $2.789 billion at September 30, 2025, from $2.996 billion at December 31, 2024. Total loan decreases during the period included decreases totaling $111.3 million in commercial real estate and multi-family loans, $24.6 million in construction loans, $62.8 million in commercial business, and $5.9 million in 1-4 family residential loans and home equity loans. The allowance for credit losses increased $3.0 million to $37.8 million, or 40.4 percent of non-accruing loans and 1.34 percent of gross loans, at September 30, 2025, as compared to an allowance for credit losses of $34.8 million, or 77.8 percent of non-accruing loans and 1.15 percent of gross loans, at December 31, 2024.
Current wording
Loans receivable, net, decreased by $35.1 million, or 1.3 percent, to $2.656 billion at March 31, 2026, from $2.691 billion at December 31, 2025, due to loan payoffs, paydowns and charge-offs. Total loan decreases during the period included decreases of $19.3 million in commercial real estate and multi-family loans, $12.1 million in commercial business loans and $4.6 million in 1-4 family residential loans and home equity loans. The allowance for credit losses decreased $1.1 million to $32.6 million, or 54.5 percent of non-accruing loans and 1.21 percent of gross loans, at March 31, 2026, as compared to an allowance for credit losses of $33.7 million, or 53.3 percent of non-accruing loans and 1.24 percent of gross loans, at December 31, 2025.
Previous wording
Total investment securities increased by $14.1 million, or 12.7 percent, to $125.3 million at September 30, 2025, from $111.2 million at December 31, 2024, representing current year purchases, net of investments called during 2025.
Current wording
Total investments increased by $7.5 million, or 5.6 percent, to $143.1 million at March 31, 2026, from $135.6 million at December 31, 2025, representing current year purchases, net of maturity and paydowns during 2026.
Previous wording
Deposits decreased by $63.5 million, or 2.3 percent, to $2.687 billion at September 30, 2025, from $2.751 billion at December 31, 2024. Brokered deposits and transaction accounts decreased $68.5 million and $59.8 million, respectively, and were offset by increases in money market accounts, certificate of deposit accounts and savings accounts which totaled $64.8 million.
Current wording
Deposits decreased by $1.1 million, or 0.04 percent, to $2.672 billion at March 31, 2026, from $2.674 billion at December 31, 2025. Certificates of deposit, non-interest bearing accounts and savings and club accounts decreased $33.7 million, and were offset by increases in money market accounts and interest bearing deposit accounts which totaled $32.6 million.
Previous wording
Debt obligations decreased by $174.4 million to$323.9 millionat September 30, 2025 from $498.3 million at December 31, 2024, due to maturities and paydowns of our FHLB advances. The weighted average interest rate of FHLB advances was 4.09 percent at September 30, 2025 and 4.35 percent at December 31, 2024. The weighted average maturity of FHLB advances as of September 30, 2025 was 0.61 years. The interest rate of our subordinated debt balances was 9.25 percent at September 30, 2025 and December 31, 2024.
Current wording
Debt obligations decreased by $9.9 million to$268.3 millionat March 31, 2026, from $278.2 million at December 31, 2025, due to maturities of our FHLB advances. The weighted average interest rate of FHLB advances was 4.70 percent at March 31, 2026, and 4.53 percent at December 31, 2025. The weighted average maturity of FHLB advances as of March 31, 2026 was 0.23 years. The interest rate of our subordinated debt balances was 9.25 percent at March 31, 2026 and December 31, 2025.
Previous wording
Interest expense decreased by $6.3 million to $19.3 million for the third quarter of 2025 from $25.6 million for the third quarter of 2024. The decrease resulted from a decrease in the average rate paid on interest-bearing liabilities of 56 basis points to 3.06 percent for the third quarter of 2025 from 3.62 percent for the third quarter of 2024, while the average balance of interest-bearing liabilities decreased by $318.2 million to $2.505 billion for the third quarter of 2025 from $2.823 billion for the third quarter of 2024.
Current wording
Interest expense decreased by $4.6 million to $17.6 million for the first quarter of 2026 from $22.2 million for the first quarter of 2025. The decrease resulted from a decrease in the average rate paid on interest-bearing liabilities of 40 basis points to 2.93 percent for the first quarter of 2026 from 3.33 percent for the first quarter of 2025, while the average balance of interest-bearing liabilities decreased by $267.6 million to $2.434 billion in the first quarter of 2026 from $2.702 billion in the first quarter of 2025.
Previous wording
The net interest margin increased to 2.88 percent for the third quarter of 2025 compared to 2.58 percent for the third quarter of 2024. The increase in the net interest margin compared to the third quarter of 2024 was the result of a decrease in the cost of interest-bearing liabilities, offset by a decrease in the yield on interest-earning assets.
Current wording
The net interest margin increased to 2.95 percent for the first quarter of 2026 compared to 2.59 percent for the first quarter of 2025. The increase in the net interest margin compared to the first quarter of 2025 was the result of a decrease in the cost of interest-bearing liabilities, and an increase in the yield on interest-earning assets.
Previous wording
During the third quarter of 2025, the Company recognized $16.9 million in net charge-offs compared to $3.4 million in net charge-offs in the third quarter of 2024. A net charge-off of $12.7 million was recorded in connection with the elimination of previously established specific reserves for a cannabis-related relationship, as initially disclosed in a Form 8-K filed in the first quarter of 2025. These specific reserves were charged off, and the associated relationship was reclassified to Other Real Estate Owned during the current quarter. The Bank had non-accrual loans totaling $93.5 million, or 3.31 percent of gross loans, at September 30, 2025, as compared to $44.7 million, or 1.48 percent of gross loans, at December 31, 2024. The allowance for credit losses on loans was $37.8 million, or 1.34 percent of gross loans, at September 30, 2025, and $34.8 million, or 1.15 percent of gross loans, at December 31, 2024. The provision for credit losses was $4.1 million for the third quarter of 2025 compared to $2.9 million for the third quarter of 2024. Management believes that the allowance for credit losses on loans was adequate at September 30, 2025 and December 31, 2024.
Current wording
During the first quarter of 2026, the Company recognized $3.9 million in net charge-offs compared to $4.2 million in net charge-offs in the first quarter of 2025. The Bank had non-accrual loans totaling $59.8 million, or 2.22 percent of gross loans, at March 31, 2026, as compared to $63.3 million, or 2.32 percent of gross loans, at December 31, 2025. The allowance for credit losses on loans was $32.6 million, or 1.21 percent of gross loans, at March 31, 2026, and $33.7 million, or 1.24 percent of gross loans, at December 31, 2025. The provision for credit losses was $2.8 million for the first quarter of 2026 compared to $12.2 million for the fourth quarter of 2025 and $20.8 million for the first quarter of 2025. Management believes that the allowance for credit losses on loans was adequate at March 31, 2026 and December 31, 2025.
Previous wording
Non-interest income decreased by $382 thousand to $2.7 million for the third quarter of 2025 from $3.1 million in the third quarter of 2024. The decrease in total non-interest income was mainly related to $782 thousand less in realized gains on equity investments and was partially offset by an increase in BOLI income of $279 thousand.
Current wording
Non-interest income increased by $310 thousand to $2.1 million for the first quarter of 2026 from $1.8 million in the first quarter of 2025. The increase in total non-interest income was mainly related to a $338 thousand increase in BOLI income and a decrease in our realized and unrealized loss on equity investments of $22 thousand. Offsetting this was a decrease in other non-interest income of $75 thousand.
Previous wording
Non-interest expense increased by $2.6 million, or 19.0 percent, to $16.6 million for the third quarter of 2025 when compared to non-interest expense of $13.9 million for the third quarter of 2024. The increase in these expenses for the third quarter of 2025 was primarily driven by salaries and employee benefits, data processing and communication costs and regulatory assessment fees which increased $1.2 million, $366 thousand and $318 thousand, respectively.
Current wording
Non-interest expense increased by $891 thousand, or 6.1 percent, to $15.6 million for the first quarter of 2026 compared to non-interest expense of $14.7 million for the first quarter of 2025. The increase in these expenses for the first quarter of 2026 was primarily driven by salaries and employee benefits, data processing costs and OREO expenses, which rose $924 thousand, $179 thousand and $150 thousand, respectively. Offsetting this was a decline in other non-interest expense and director fees of $203 thousand and $172 thousand, respectively.
Previous wording
At September 30, 2025 and December 31, 2024, the Company had no overnight borrowings outstanding with the FHLB. The Company utilizes overnight borrowings from time to time to fund short-term liquidity needs. The Company had total outstanding borrowings of $323.9 million at September 30, 2025 ascompared to $498.3 million at December 31, 2024.
Current wording
At March 31, 2026 and December 31, 2025, the Company had no overnight borrowings outstanding with the FHLB. The Company utilizes overnight borrowings from time to time to fund short-term liquidity needs. The Company had total outstanding borrowings of $268.3 million at March 31, 2026 ascompared to $278.2 million at December 31, 2025.
Previous wording
At September 30, 2025, the Company had the ability to obtain additional funding of $200.3 million from the FHLB and $223.3 million from the Federal Reserve Bank Discount Window, utilizing unencumbered loan collateral. The Company expects to have sufficient funds available to meet current loan commitments in the normal course of business through typical sources of liquidity. Time deposits scheduled to mature in one year or less totaled $973.8 million at September 30, 2025. Based upon historical experience data, management estimates that a significant portion of such deposits will remain with the Company.
Current wording
At March 31, 2026, the Company had the ability to obtain additional funding of $385.9 million from the FHLB and $200.6 million from the Federal Reserve Bank Discount Window, utilizing unencumbered loan collateral. The Company expects to have sufficient funds available to meet current loan commitments in the normal course of business through typical sources of liquidity. Time deposits scheduled to mature in one year or less totaled $941.6 million at March 31, 2026. Based upon historical experience data, management estimates that a significant portion of such deposits will remain with the Company.
Previous wording
The Company also has $4.1 million of mandatory redeemable trust preferred securities outstanding. Effective September 18, 2023, the interest rate on these floating rate junior subordinated debentures adjusts quarterly based on the three-month CME Term SOFR, as adjusted by the spread adjustment of 0.26161%, plus 2.650%. The rate paid as of September 30, 2025 and 2024 was 6.935% and 7.853%, respectively. The trust preferred debenture became callable, at the Company’s option, on June 17, 2009, and quarterly thereafter.
Current wording
The Company also has $4.1 million of mandatory redeemable trust preferred securities outstanding. Effective September 18, 2023, the interest rate on these floating rate junior subordinated debentures adjusts quarterly based on the three-month CME Term SOFR, as adjusted by the spread adjustment of 0.26161%, plus 2.650%. The rate paid as of March 31, 2026 and 2025 was 6.595% and 7.211%, respectively. The trust preferred debenture became callable, at the Company’s option, on June 17, 2009, and quarterly thereafter. They mature on June 17, 2034.
Rearranged previous paragraphs (4)
Previous report — wording carried elsewhere
(1)Net interest rate spread represents the difference between the average yield on average interest-earning assets and the average cost of average interest-bearing liabilities.
Previous report — wording carried elsewhere
(2)Net interest margin represents net interest income divided by average total interest-earning assets.
Previous report — wording carried elsewhere
(4)Excludes allowance for credit losses.
Previous report — wording carried elsewhere
Results of Operations Comparison for Nine Months Ended September 30, 2025 and 2024