Blue Foundry Bancorp reports Q1 EPS (5c) vs 2c last year

Reports tangible book value per share $14.06. Tangible equity to tangible assets was 18.33% and tangible common equity per share outstanding was $14.06. The Bank’s capital ratios remain above the FDIC’s "well capitalized" standards. "Last week the Board approved the Company’s second stock repurchase program, authorizing the repurchase of up to 5% of the outstanding shares at the conclusion of the initial stock repurchase program," said James D. Nesci, President and Chief Executive Officer. "We are pleased to be able to continue to return value to shareholders and we believe the program represents a prudent use of capital." Nesci continued, "While the banking industry has been challenged by recent events, we believe Blue Foundry is well positioned with strong capital, access to liquidity, and a low percentage of uninsured deposits to customers. Additionally, we can provide over $100 million in FDIC insurance coverage through products we offer."