BCB Bancorp Inc (NJ) - BCBP STOCK NEWS

BCB Bancorp, Inc. (NASDAQ: BCBP) announced an amendment to its stock repurchase program, increasing the authorized repurchase from 500,000 to 500,000 shares. As of September 30, 2022, 417,650 shares had been repurchased. The repurchase represents approximately 2.9% of the company's outstanding shares, which total about 16,973,870. The program allows for shares to be bought back in open market or negotiated transactions, with flexibility regarding timing and volume. Management will determine purchase conditions based on market factors and the company's financial status.

BAYONNE, N.J., Sept. 28, 2022 – BCB Bancorp (NASDAQ: BCBP) has appointed Jawad Chaudhry as its new Chief Financial Officer, effective immediately. Chaudhry, previously with Investors Bank, brings extensive experience in regional and investment banking, including financial planning and M&A strategy. His appointment follows BCB's recognition as a 2022 Piper Sandler Sm-All Star. President and CEO Thomas Coughlin expressed confidence that Chaudhry's skills will enhance the company's strategic goals. BCB Community Bank operates 29 branches in New Jersey and offers a range of banking services.

BCB Bancorp, Inc. (NASDAQ: BCBP) has been recognized in the Piper Sandler 2022 Bank & Thrift Sm-All Stars, ranking among the top small-cap banks nationwide. Out of over 350 candidates, BCBP is one of only 35 selected and one of three from New Jersey. The bank excelled in four out of seven performance categories, including a 28.3% year-over-year EPS growth and a 14.7% ROAE. This marks the third year BCBP received this accolade. The selection process emphasized growth, profitability, credit quality, and capital strength, highlighting BCBP's robust performance compared to the industry.

BCB Bancorp, Inc. (NASDAQ: BCBP) reported a strong second quarter in 2022, with net income increasing 26.2% to $10.2 million, or $0.58 per diluted share. Year-to-date net income rose 32.6% to $20.1 million. The board declared a quarterly cash dividend of $0.16 per share, payable August 15, 2022. The net interest margin improved by 27 basis points to 3.74%, supported by loan portfolio growth and increased core deposits. Notably, no loan loss provision was recorded, reflecting solid asset quality metrics with non-accrual loans decreasing to 0.35%.

BCB Bancorp (NASDAQ: BCBP) reported a net income of $10.0 million for Q1 2022, down from $10.8 million in Q4 2021, but up from $7.1 million in Q1 2021. Earnings per diluted share were $0.56, compared to $0.61 and $0.40 in previous periods. The company declared a $0.16 dividend, payable on May 16, 2022. Net interest margin improved slightly to 3.46%. Total loans increased to $2.396 billion, and deposits rose to $2.631 billion. A credit of $2.6 million was recorded in the loan loss provision, reflecting high asset quality.

BCB Bancorp, Inc. (NASDAQ: BCBP) reported a 64.2% increase in net income for 2021, reaching $34.2 million, marking the highest in the company's history. Earnings per diluted share rose to $1.92. The board declared a quarterly cash dividend of $0.16 per share, payable on February 15, 2022. For Q4 2021, net income was $10.8 million, a 29.2% increase from Q3 and 47.3% growth year-over-year. The company's net interest margin improved to 3.44%, reflecting strong asset quality and management's focus on funding costs.

BCB Bancorp, Inc. (NASDAQ: BCBP) announced a quarterly cash dividend of $0.16 per share, payable on February 15, 2022, to shareholders of record as of February 1, 2022. This decision, resulting from solid financial performance in 2021, reflects the company's commitment to providing shareholder returns. At a stock price of $16.00 on January 12, 2022, the dividend yields 4.00% annually. The Bank operates 29 branches across New Jersey and New York, offering various banking services.

BCB Bancorp reported a net income of $8.3 million for Q3 2021, matching Q3 2020 levels and up from $8.1 million in Q2 2021. The earnings per diluted share increased to $0.47. For the first nine months of 2021, net income soared 73.2% to $23.5 million. The Board announced a quarterly cash dividend of $0.16 per share, payable on November 15, 2021. Notably, the net interest margin improved by 48 basis points to 3.46%. Total assets rose to $2.984 billion, with total deposits increasing to $2.541 billion, reflecting strong financial performance despite a challenging economic landscape.

BCB Bancorp, Inc. (NASDAQ: BCBP) has announced a quarterly cash dividend of $0.16 per share, an increase from the previous $0.14, reflecting a commitment to shareholder returns. The dividend will be payable on November 15, 2021, to shareholders of record by November 1, 2021. At a stock price of $14.95 on October 13, 2021, this results in a 4.28% annual dividend yield. The company continues to demonstrate solid profitability, reinforcing its dedication to providing competitive returns to investors.