BCB Bancorp, Inc. Announces Results for the Third Quarter 2026; Achieves Substantial Progress Towards Restructured Balance Sheet
Key Highlights
- ➤Q3 net loss $132.5 million versus $3.8 million net income year-over-year
- ➤$115.0 million provision for credit losses drove third-quarter results
- ➤$98.0 million equity raise generated $91.4 million in net proceeds
- ➤$204.3 million of problem loans sold, producing a $42.3 million charge-off
- ➤Criticized and classified loans fell to $198.9 million from $367.4 million
Expert Statements
Thomas M. O’Brien, President and Chief Executive Officer of BCB Bancorp, Inc. and BCB Community Bank
“I am pleased with the successful execution of several strategic initiatives during the third quarter that we believe meaningfully de-risked our balance sheet and strengthened the Company’s financial position. In a very short period of time, we identified key credit challenges, assessed our capital needs, successfully raised capital, and completed loan sale transactions that reduced risk and improved the quality of our balance sheet. In addition, the comprehensive credit reviews completed during the second and third quarters resulted in an increase in our allowance for credit losses to address losses embedded in the portfolio and position the Bank for the future. The capital raise allowed us to absorb the losses recognized in our loan portfolio while maintaining solid capital ratios. The capital raise also significantly enhanced liquidity at the holding company level, with approximately $20 million of the proceeds retained at the holding company. While substantial progress has been made toward creating a safer and stronger institution, our work is far from complete. We remain focused on strengthening our risk management culture, improving operating performance, and working toward returning the Bank to sustainable profitability while creating long-term value for our shareholders.”
* Successfully completed a $98.0 million equity capital raise through an underwritten public offering. * Maintained well-capitalized regulatory capital levels. * Reduced credit risk through the sale of $204.3 million of portfolios of certain problem loans. * Transferred an additional $100.9 million of loans to held-for-sale. * Enhanced Board oversight and governance with the addition of two new independent directors. * Further reorganization of C-Suite to align governance and executive responsibilities. BAYONNE, N.J., Oct. 29, 2026 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding company for BCB Community Bank (the “Bank”), today reported a net loss attributable to common stockholders of $132.5 million for the third quarter of 2026, compared to a net loss of $14.8 million in the second quarter of 2026, and net income of $3.8 million for the third quarter of 2025. The Company’s loss per diluted share for the third quarter was ($6.92) compared to a loss per diluted share of ($0.85) in the preceding quarter. The Company had earnings per share of $0.22 in the third quarter of 2025. The Company’s reported net loss attributable to common stockholders for the nine months ended September 30, 2026 was $142.8 million, compared to a net loss of $1.9 million for the nine months ended September 30, 2025. The Company’s loss per diluted share for the nine months ended September 30, 2026 was ($7.98) compared to a loss per diluted share of ($0.11) for the nine months ended September 30, 2025.
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