BCB Bancorp Reports $498,000 Net Loss for Nine Months Ended September 30, 2025

BCB Bancorp Inc. reported a net loss of $498,000 for the nine months ended September 30, 2025, a significant decline from the net income of $15.4 million recorded during the same period in 2024. The decrease in profitability was primarily attributed to a substantial increase in the provision for credit losses, which rose to $29.8 million from $7.4 million year-over-year. This increase was largely driven by a specific reserve of $13.7 million related to a loan in the cannabis sector, which was subsequently charged off. The company’s total assets decreased by 6.8% to $3.353 billion, down from $3.599 billion at the end of 2024, largely due to a reduction in net loans and cash equivalents.

Total loans receivable, net of allowance for credit losses, decreased by $207.3 million, or 6.9%, to $2.789 billion as of September 30, 2025. This decline was influenced by reductions in various loan categories, including commercial real estate and multi-family loans, which fell by $111.3 million, and commercial business loans, which decreased by $62.8 million. The allowance for credit losses increased to $37.8 million, representing 1.34% of gross loans, compared to 1.15% at the end of 2024. The company also reported a rise in non-accrual loans, which totaled $93.5 million, or 3.31% of gross loans, up from $44.7 million at the end of the previous year.

In terms of operational metrics, BCB Bancorp's total deposits decreased by $63.5 million, or 2.3%, to $2.687 billion. The decline was primarily due to reductions in brokered deposits and transaction accounts, which were partially offset by increases in money market and savings accounts. The company’s total investment securities increased by $14.1 million, or 12.7%, to $125.3 million, reflecting current year purchases net of securities called during the period.

Looking ahead, BCB Bancorp's management expressed a cautious outlook, emphasizing the need to navigate ongoing economic challenges, particularly in the cannabis sector, which poses increased credit risk. The company remains focused on managing its liquidity and capital effectively while continuing to monitor the performance of its loan portfolio. The board of directors declared a cash dividend of $0.16 per share, reflecting the company's commitment to returning value to shareholders despite the recent financial challenges.