BCB Bancorp Announces Stock Repurchase Program
BCB Bancorp, Inc. (BCBP) has announced the continuation of its stock repurchase program, originally initiated on October 17, 2022. The Board of Directors believes that the current market volatility presents a favorable opportunity to repurchase shares, thereby enhancing overall shareholder value. Thomas Coughlin, the President & CEO, expressed strong confidence in the company’s future prospects. BCBP, headquartered in Bayonne, N.J., operates multiple branches across New Jersey and New York, offering various banking services. This strategic move aims to reinforce investor confidence and potentially influence the stock price positively.
- Ongoing stock repurchase program aims to enhance shareholder value.
- Management expresses strong confidence in future performance amid market volatility.
- None.
BAYONNE, N.J., April 25, 2023 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc (BCBP) (the “Company”), (Nasdaq: BCBP), the holding company for BCB Community Bank (“the Bank”), announced today that its Board of Directors (the “Board”) has approved the Company to continue repurchasing shares of its issued and outstanding common stock through its active stock repurchase program, which was initially announced on October 17, 2022.
“The Board is very confident in BCB’s future and believes that the recent market volatility provides for an opportune time to repurchase shares and increase overall shareholder value,” said Thomas Coughlin, President & CEO of BCB Bank.
About BCB Bancorp, Inc.
Established in 2000 and headquartered in Bayonne, N.J., BCB Community Bank is the wholly-owned subsidiary of BCB Bancorp, Inc. (NASDAQ: BCBP). The Bank has 27 branch offices in Bayonne, Edison, Hoboken, Fairfield, Holmdel, Jersey City, Lyndhurst, Maplewood, Monroe Township, Newark, Parsippany, Plainsboro, River Edge, Rutherford, South Orange, Union, and Woodbridge, New Jersey, and three branches in Hicksville and Staten Island, New York. The Bank provides businesses and individuals a wide range of loans, deposit products, and retail and commercial banking services. For more information, please go to www.bcb.bank (Opens in a new Window).
Forward-Looking Statements
This release, like many written and oral communications presented by BCB Bancorp, Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “could,” “may,” “should,” “will,” “would,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results.
In addition to factors previously disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission (the "SEC") and those identified elsewhere in this release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the inability to close loans in our pipeline; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; supply chain disruptions; any future pandemics and the related adverse local and national economic consequences; civil unrest in the communities that the company serves; customer acceptance of the Bank’s products and services; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; economic conditions; and the impact, extent and timing of technological changes, capital management activities, and actions of governmental agencies and legislative and regulatory actions and reforms.
Contact:
Thomas Coughlin,
President & CEO
Jawad Chaudhry, CFO
(201) 823-0700
FAQ
What are the details of BCB Bancorp's stock repurchase program?
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