BCB Bancorp reports Q3 EPS 36c, consensus 32c

Net interest margin was 2.58 percent for the third quarter of 2024, compared to 2.60 percent for the second quarter of 2024, and 2.78 percent for the third quarter of 2023.Total assets decreased by $218.6 million, or 5.7 percent, to $3.614 billion at September 30, 2024, from $3.832 billion at December 31, 2023. Our liquidity profile and capital position continue to strengthen as management remains focused on optimizing the Banks balance sheet. We are very pleased with the successful completion of our subordinated debt offering during the third quarter that generated a positive response from the investors. The offering was upsized from an initial target of $33.5 million to $40.0 million and further bolstered our capital position. The transaction was in line with our strategy of refinancing our existing $33.5 million of subordinated debt that had started to lose Tier 2 regulatory capital status, stated Michael Shriner, President and Chief Executive Officer.