BCB Bancorp, Inc. Earns $4.9 Million in First Quarter 2026; Reports $0.26 EPS and Declares Quarterly Cash Dividend of $0.08 Per Share

BAYONNE, N.J., April 21, 2026 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc. (the "Company"), (NASDAQ:BCBP), the holding company for BCB Community Bank (the "Bank"), today reported net income of $4.9 million for the first quarter of 2026, compared to a net loss of $12.0 million in the fourth quarter of 2025, and a net loss of $8.3 million for the first quarter of 2025. The Company's earnings per diluted share for the first quarter were $0.26 compared to a loss per diluted share of ($0.73) in the preceding quarter and a loss per diluted share of ($0.51) in the first quarter of 2025.

The Company also announced that its Board of Directors has declared a regular quarterly cash dividend of $0.08 per share. The dividend will be payable on May 20, 2026, to common shareholders of record on May 6, 2026.

"We are pleased to report a profitable first quarter, reflecting steady financial momentum and continued improvement across our core performance metrics. Our capital and liquidity positions remain strong, and the credit headwinds experienced in 2025 have moderated, consistent with our expectations. Following the stabilization of these trends, we have resumed lending activity and anticipate loan originations will continue to build momentum as the year progresses," said Michael Shriner, President and Chief Executive Officer of BCB Bank.

Executive Summary

• Total deposits were $2.672 billion at March 31, 2026, compared to $2.674 billion at December 31, 2025.
• Net interest margin was 2.95 percent for the first quarter of 2026, compared to 3.03 percent for the fourth quarter of 2025, and 2.59 percent for the first quarter of 2025.
  • The total yield on our interest-earning assets was 5.21 percent for the first quarter of 2026, compared to 5.32 percent for the fourth quarter of 2025, and 5.20 percent for the first quarter of 2025.
  • The total cost of our interest-bearing liabilities decreased 5 basis points to 2.93 percent for the first quarter of 2026, compared to 2.98 percent for the fourth quarter of 2025, and decreased 40 basis points from 3.33 percent for the first quarter of 2025.
• The efficiency ratio for the first quarter 2026 was 62.4 percent compared to 120.0 percent in the prior quarter, and 61.6 percent in the first quarter of 2025.
• The annualized return on average assets ratio for the first quarter of 2026 was 0.61 percent, compared to (1.44) percent in the prior quarter, and (0.95) percent in the first quarter of 2025.
• The annualized return on average equity ratio for the first quarter of 2026 was 6.5 percent, compared to (15.0) percent in the prior quarter, and (10.4) percent in the first quarter of 2025.
• The allowance for credit losses ("ACL") as a percentage of non-accrual loans was 54.5 percent at March 31, 2026, compared to 53.3 percent at the prior quarter-end. Total non-accrual loans were $59.8 million at March 31, 2026, compared to $63.3 million at December 31, 2025, $93.5 million at September 30, 2025 and $101.8 million at June 30, 2025.  
• The provision for credit losses was $2.8 million in the first quarter of 2026 compared to $12.2 million for the fourth quarter of 2025. In the first quarter of 2025, the Bank recorded a provision for credit losses of $20.8 million.
• Total loans receivable, net of the allowance for credit losses, of $2.656 billion at March 31, 2026, decreased 1.3 percent from $2.691 billion at December 31, 2025, and decreased 9.0 percent from $2.918 billion at March 31, 2025.
  
  
  
  

Balance Sheet Review

Total assets decreased by $10.4 million, or 0.3 percent, to $3.269 billion at March 31, 2026, from $3.280 billion at December 31, 2025. This decrease is the result of fewer net loans, offset by an increase in cash and cash equivalents.

Total cash and cash equivalents increased by $17.2 million, or 6.2 percent, to $293.7 million at March 31, 2026, from $276.6 million at December 31, 2025. The increase in cash was primarily due to loan cash flows.

Loans receivable, net, decreased by $35.1 million, or 1.3 percent, to $2.656 billion at March 31, 2026, from $2.691 billion at December 31, 2025, due to loan payoffs, paydowns and charge-offs. Total loan decreases during the period included decreases of $19.3 million in commercial real estate and multi-family loans, $12.1 in commercial business loans and $4.6 million in 1-4 family residential loans and home equity loans. The allowance for credit losses decreased $1.1 million to $32.6 million, or 54.5 percent of non-accruing loans and 1.21 percent of gross loans, at March 31, 2026, as compared to an allowance for credit losses of $33.7 million, or 53.3 percent of non-accruing loans and 1.24 percent of gross loans, at December 31, 2025.

Total investments increased by $7.5 million, or 5.6 percent, to $143.1 million at March 31, 2026, from $135.6 million at December 31, 2025, representing current year purchases, net of maturity and paydowns during 2026.

Deposits decreased by $1.1 million, or 0.04 percent, to $2.672 billion at March 31, 2026, from $2.674 billion at December 31, 2025. Certificates of deposit, non-interest bearing accounts and savings and club accounts decreased $33.7 million, and were offset by increases in money market accounts and interest bearing deposit accounts which totaled $32.6 million.

Debt obligations decreased by $9.9 million to $268.3 million at March 31, 2026, from $278.2 million at December 31, 2025, due to maturities of our FHLB advances. The weighted average interest rate of FHLB advances was 4.70 percent at March 31, 2026, and 4.53 percent at December 31, 2025. The weighted average maturity of FHLB advances as of March 31, 2026 was 0.23 years. The interest rate of our subordinated debt balances was 9.25 percent at March 31, 2026 and December 31, 2025.

Stockholders' equity increased by $3.1 million, or 1.0 percent, to $307.4 million at March 31, 2026, from $304.3 million at December 31, 2025. The increase was attributable to retained earnings, which increased $3.0 million.

First Quarter 2026 Income Statement Review

The Company reported net income of $4.9 million for the quarter ended March 31, 2026, compared to a net loss of $8.3 million for the quarter ended March 31, 2025. This increase was due to the Bank recording $18.1 million less in loan loss provisioning, offset by the Bank recording $5.1 million more in income taxes.

Interest income decreased by $3.8 million, or 8.6 percent, to $40.4 million for the first quarter of 2026 from $44.2 million for the first quarter of 2025. The average balance of interest-earning assets decreased $299.2 million, or 8.7 percent, to $3.144 billion for the first quarter of 2026 from $3.444 billion for the first quarter of 2025. The average yield increased 1 basis point to 5.21 percent for the first quarter of 2026 from 5.20 percent for the first quarter of 2025.

Interest expense decreased by $4.6 million to $17.6 million for the first quarter of 2026 from $22.2 million for the first quarter of 2025. The decrease resulted from a decrease in the average rate paid on interest-bearing liabilities of 40 basis points to 2.93 percent for the first quarter of 2026 from 3.33 percent for the first quarter of 2025, while the average balance of interest-bearing liabilities decreased by $267.6 million to $2.434 billion in the first quarter of 2026 from $2.702 billion in the first quarter of 2025.

The net interest margin increased to 2.95 percent for the first quarter of 2026 compared to 2.59 percent for the first quarter of 2025. The increase in the net interest margin compared to the first quarter of 2025 was the result of a decrease in the cost of interest-bearing liabilities, and an increase in the yield on interest-earning assets.

During the first quarter of 2026, the Company recognized $3.9 million in net charge-offs compared to $4.2 million in net charge-offs in the first quarter of 2025. The Bank had non-accrual loans totaling $59.8 million, or 2.22 percent of gross loans, at March 31, 2026, as compared to $63.3 million, or 2.32 percent of gross loans, at December 31, 2025. The allowance for credit losses on loans was $32.6 million, or 1.21 percent of gross loans, at March 31, 2026, and $33.7 million, or 1.24 percent of gross loans, at December 31, 2025. The provision for credit losses was $2.8 million for the first quarter of 2026 compared to $12.2 million for the fourth quarter of 2025 and $20.8 million for the first quarter of 2025. Management believes that the allowance for credit losses on loans was adequate at March 31, 2026 and December 31, 2025.

Non-interest income increased by $310 thousand to $2.1 million for the first quarter of 2026 from $1.8 million in the first quarter of 2025. The increase in total non-interest income was mainly related to a $338 thousand increase in BOLI income and a decrease in our realized and unrealized loss on equity investments of $22 thousand. Offsetting this was a decrease in other non-interest income of $75 thousand.

Non-interest expense increased by $891 thousand, or 6.1 percent, to $15.6 million for the first quarter of 2026 compared to non-interest expense of $14.7 million for the first quarter of 2025. The increase in these expenses for the first quarter of 2026 was primarily driven by salaries and employee benefits, data processing costs and OREO expenses, which rose $924 thousand, $179 thousand and $150 thousand, respectively. Offsetting this was a decline in other non-interest expense and director fees of $203 thousand and $172 thousand, respectively.

The income tax provision increased by $5.1 million, to an income tax expense of $1.7 million for the first quarter of 2026 when compared to a income tax benefit of $3.4 million for the first quarter of 2025.

Asset Quality

During the first quarter of 2026, the Company recognized $3.9 million in net charge offs, compared to $4.2 million in net charge-offs for the first quarter of 2025.

The Company had non-accrual loans totaling $59.8 million, or 2.22 percent of gross loans, at March 31, 2026, as compared to $99.8 million, or 3.36 percent of gross loans, at March 31, 2025. The allowance for credit losses was $32.6 million, or 1.21 percent of gross loans, at March 31, 2026, and $51.5 million, or 1.73 percent of gross loans, at March 31, 2025. The allowance for credit losses was 54.5 percent of non-accrual loans at March 31 2026, and 51.6 percent of non-accrual loans at March 31, 2025.

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 twenty-three 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 four 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.

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.

The most significant factors that could cause future results to differ materially from those anticipated by our forward-looking statements include the global impact of the military conflicts in the Ukraine and the Middle East, the potential impact of any future Federal budget stalemate in Congress, global tariffs imposed by the Trump administration, higher inflation levels, and general economic concerns, all of which could impact economic growth and could cause increased loan delinquencies, a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations. Other factors that could cause future results to vary materially from current management expectations as reflected in our forward-looking statements include, but are not limited to: our ability to manage liquidity and capital in a rapidly changing and unpredictable market, supply chain disruptions, labor shortages; unfavorable economic conditions in the United States generally and particularly in our primary market area; the Company's ability to effectively attract and deploy deposits; changes in the Company's corporate strategies, the composition of its assets, or the way in which it funds those assets; shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including changes in market liquidity or volatility; the effects of declines in real estate values that may adversely impact the collateral underlying our loans; increase in unemployment levels and slowdowns in economic growth; our level of non-performing assets and the costs associated with resolving any problem loans including litigation and other costs; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of our loan and investment securities portfolios; the credit risk associated with our loan portfolio; changes in the quality and composition of the Bank's loan and investment portfolios; changes in our ability to access cost-effective funding; deposit flows; legislative and regulatory changes, including increases in Federal Deposit Insurance Corporation, or FDIC, insurance rates; monetary and fiscal policies of the federal and state governments; changes in tax policies, rates and regulations of federal, state and local tax authorities; demands for our loan products; demand for financial services; competition; changes in the securities or secondary mortgage markets; changes in management's business strategies; changes in consumer spending; our ability to hire and retain key employees; the effects of any reputational, credit, interest rate, market, operational, legal, liquidity, or regulatory risk; expanding regulatory requirements which could adversely affect operating results; civil unrest in the communities that we serve; and other factors discussed elsewhere in this report, and in other reports we filed with the SEC, including under "Risk Factors" in Part I, Item 1A of our Annual Report on Form 10-K filed for the year ended December 31, 2025, and our other periodic reports that we file with the SEC.

Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

Explanation of Non-GAAP Financial Measures

Reported amounts are presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"). This press release also contains certain supplemental Non-GAAP information that the Company's management uses in its analysis of the Company's financial results. The Company's management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company's financial results for the periods in question.

The Company provides measurements and ratios based on tangible stockholders' equity and efficiency ratios. These measures are utilized by regulators and market analysts to evaluate a company's financial condition and, therefore, the Company's management believes that such information is useful to investors. For a reconciliation of GAAP to Non-GAAP financial measures included in this press release, see "Reconciliation of GAAP to Non-GAAP Financial Measures" below.

Contact:

Michael Shriner,

President & CEO

Jawad Chaudhry, 

EVP, CFO & Treasurer

(201) 823-0700

	Statements of Operations - Three Months Ended,
	March 31, 2026			December 31, 2025			March 31, 2025			March 31, 2026 vs. December 31, 2025			March 31, 2026 vs. March 31, 2025
Interest and dividend income:	(In thousands, except per share amounts, Unaudited)
Loans, including fees	$	35,878		$	38,344		$	38,927		-6.4	%		-7.8	%
Mortgage-backed securities		839			772			561		8.7	%		49.6	%
Other investment securities		990			914			968		8.3	%		2.3	%
FHLB stock and other interest-earning assets		2,695			2,514			3,736		7.2	%		-27.9	%
Total interest and dividend income		40,402			42,544			44,192		-5.0	%		-8.6	%
Interest expense:
Deposits:
Demand		5,170			5,196			5,418		-0.5	%		-4.6	%
Savings and club		136			213			151		-36.2	%		-9.9	%
Certificates of deposit		8,592			9,125			10,762		-5.8	%		-20.2	%
		13,898			14,534			16,331		-4.4	%		-14.9	%
Borrowings		3,667			3,787			5,856		-3.2	%		-37.4	%
Total interest expense		17,565			18,321			22,187		-4.1	%		-20.8	%
Net interest income		22,837			24,223			22,005		-5.7	%		3.8	%
Provision for credit losses		2,788			12,195			20,845		-77.1	%		-86.6	%
Net interest income after provision for credit losses		20,049			12,028			1,160		66.7	%		1628.4	%
Non-interest income income :
Fees and service charges		1,191			1,173			1,173		1.5	%		1.5	%
Gain on sales of loans		7			8			-		-12.5	%		-
Realized and unrealized loss on equity investments		(93	)		(427	)		(115	)	-78.2	%		-19.1	%
Bank-owned life insurance ("BOLI") income		946			1,001			608		-5.5	%		55.6	%
Other		50			188			125		-73.4	%		-60.0	%
Total non-interest income		2,101			1,943			1,791		8.1	%		17.3	%
Non-interest expense:
Salaries and employee benefits		8,327			7,960			7,403		4.6	%		12.5	%
Occupancy and equipment		2,724			2,617			2,723		4.1	%		0.0	%
Data processing and communications		2,023			1,982			1,844		2.1	%		9.7	%
Professional fees		627			834			692		-24.8	%		-9.4	%
Director fees		246			315			418		-21.9	%		-41.1	%
Regulatory assessment fees		765			790			709		-3.2	%		7.9	%
Advertising and promotions		200			446			179		-55.2	%		11.7	%
Other real estate owned, net		150			15,077			-		0.0	%		-
Other		489			1,364			692		-64.1	%		-29.3	%
Total non-interest expense		15,551			31,385			14,660		-50.5	%		6.1	%
Income (Loss) before income tax (benefit) provision		6,599			(17,414	)		(11,709	)	-137.9	%		-156.4	%
Income tax (benefit) provision		1,695			(5,385	)		(3,385	)	-131.5	%		-150.1	%
Net Income (Loss)		4,904			(12,029	)		(8,324	)	-140.8	%		-158.9	%
Preferred stock dividends		482			482			482		-			-
Net Income (Loss) available to common stockholders	$	4,422		$	(12,511	)	$	(8,806	)	-135.3	%		-150.2	%
Net Income (Loss) per common share-basic and diluted
Basic	$	0.26		$	(0.73	)	$	(0.51	)	-135.2	%		-149.6	%
Diluted	$	0.26		$	(0.73	)	$	(0.51	)	-135.2	%		-149.6	%
Weighted average number of common shares outstanding
Basic		17,314			17,249			17,113		0.4	%		1.2	%
Diluted		17,314			17,249			17,113		0.4	%		1.2	%

Statements of Financial Condition	March 31, 2026			December 31, 2025			March 31, 2025			March 31, 2026 vs. December 31, 2025			March 31, 2026 vs. March 31, 2025
ASSETS	(In Thousands, Unaudited)
Cash and amounts due from depository institutions	$	12,619		$	13,794		$	11,977		-8.5	%		5.4	%
Interest-earning deposits		281,118			262,790			240,773		7.0	%		16.8	%
Total cash and cash equivalents		293,737			276,584			252,750		6.2	%		16.2	%
Interest-earning time deposits		735			735			735		-			-
Debt securities available for sale		134,013			126,395			116,496		6.0	%		15.0	%
Equity investments		9,079			9,172			9,357		-1.0	%		-3.0	%
Loans receivable, net of allowance for credit losses on loans of $32,578, $33,691, and $51,484 respectively		2,655,981			2,691,091			2,917,610		-1.3	%		-9.0	%
Federal Home Loan Bank of New York ("FHLB") stock, at cost		13,757			14,176			22,066		-3.0	%		-37.7	%
Premises and equipment, net		11,915			12,056			12,474		-1.2	%		-4.5	%
Accrued interest receivable		15,259			13,834			16,354		10.3	%		-6.7	%
Other real estate owned		5,000			5,000			-		-			-
Deferred income taxes		22,322			22,209			22,814		0.5	%		-2.2	%
Goodwill		5,253			5,253			5,253		-			-
Operating lease right-of-use asset		10,889			10,660			12,622		2.1	%		-13.7	%
Bank-owned life insurance ("BOLI")		80,312			79,366			76,648		1.2	%		4.8	%
Other assets		10,845			12,935			8,643		-16.2	%		25.5	%
Total Assets	$	3,269,097		$	3,279,466		$	3,473,822		-0.3	%		-5.9	%
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Non-interest bearing deposits	$	521,316		$	531,140		$	542,621		-1.8	%		-3.9	%
Interest bearing deposits		2,151,113			2,142,433			2,143,887		0.4	%		0.3	%
Total deposits		2,672,429			2,673,573			2,686,508		-			-0.5	%
FHLB advances		225,000			235,000			405,499		-4.3	%		-44.5	%
Subordinated debentures		43,272			43,210			43,024		0.1	%		0.6	%
Operating lease liability		11,365			11,140			13,087		2.0	%		-13.2	%
Other liabilities		9,651			12,259			10,982		-21.3	%		-12.1	%
Total Liabilities		2,961,717			2,975,182			3,159,100		-0.5	%		-6.2	%
STOCKHOLDERS' EQUITY
Preferred stock: $0.01 par value, 10,000 shares authorized		-			-			-		-			-
Additional paid-in capital preferred stock		25,243			25,243			25,243		-			-
Common stock: no par value, 40,000 shares authorized		-			-			-		-			-
Additional paid-in capital common stock		203,876			203,429			201,804		0.2	%		1.0	%
Retained earnings		119,412			116,415			130,291		2.6	%		-8.3	%
Accumulated other comprehensive loss		(2,804	)		(2,456	)		(4,269	)	14.2	%		-34.3	%
Treasury stock, at cost		(38,347	)		(38,347	)		(38,347	)	-			-
Total Stockholders' Equity		307,380			304,284			314,722		1.0	%		-2.3	%
Total Liabilities and Stockholders' Equity	$	3,269,097		$	3,279,466		$	3,473,822		-0.3	%		-5.9	%
Outstanding common shares		17,359			17,274			17,163

	Three Months Ended March 31,
		2026							2025
	Average Balance		Interest Earned/Paid		Average Yield/Rate (3)			Average Balance			Interest Earned/Paid		Average Yield/Rate (3)
	(Dollars in thousands)
Interest-earning assets:
Loans Receivable(4)(5)	$	2,708,511	$	35,878	5.37	%		$	2,994,529		$	38,927	5.27	%
Investment Securities		137,146		1,829	5.33	%			117,205			1,529	5.22	%
Other Interest-earning assets(6)		298,670		2,695	3.66	%			331,808			3,736	4.57	%
Total Interest-earning assets		3,144,327		40,402	5.21	%			3,443,542			44,192	5.20	%
Non-interest-earning assets		136,210							125,974
Total assets	$	3,280,537						$	3,569,516
Interest-bearing liabilities:
Interest-bearing demand accounts	$	523,400	$	2,043	1.58	%		$	560,565		$	2,369	1.71	%
Money market accounts		432,313		3,127	2.93	%			394,282			3,049	3.14	%
Savings accounts		242,459		136	0.23	%			252,227			151	0.24	%
Certificates of Deposit		964,292		8,592	3.61	%			1,005,669			10,762	4.34	%
Total interest-bearing deposits		2,162,464		13,898	2.61	%			2,212,743			16,331	2.99	%
Borrowed funds		271,123		3,667	5.49	%			488,418			5,856	4.86	%
Total interest-bearing liabilities		2,433,587		17,565	2.93	%			2,701,161			22,187	3.33	%
Non-interest-bearing liabilities		541,026							543,660
Total liabilities		2,974,613							3,244,821
Stockholders' equity		305,924							324,695
Total liabilities and stockholders' equity	$	3,280,537						$	3,569,516
Net interest income			$	22,837							$	22,005
Net interest rate spread(1)					2.28	%							1.87	%
Net interest margin(2)					2.95	%							2.59	%
(1) Net interest rate spread represents the difference between the average yield on average interest-earning assets and the average cost of average interest-bearing liabilities.
(2) Net interest margin represents net interest income divided by average total interest-earning assets.
(3) Annualized.
(4) Excludes allowance for credit losses.
(5) Includes non-accrual loans.
(6) Includes Federal Home Loan Bank of New York Stock.

	Financial Condition data by quarter
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
	(In thousands, except book values)
Total assets	$	3,269,097		$	3,279,466		$	3,353,065		$	3,380,461		$	3,473,822
Cash and cash equivalents		293,737			276,584			249,614			206,852			252,750
Securities		143,092			135,567			125,292			140,025			125,853
Loans receivable, net		2,655,981			2,691,091			2,788,932			2,860,453			2,917,610
Deposits		2,672,429			2,673,573			2,687,387			2,661,534			2,686,508
Borrowings		268,272			278,210			323,922			378,722			448,523
Stockholders' equity		307,380			304,284			318,453			315,735			314,722
Book value per common share1	$	16.25		$	16.15		$	17.02		$	16.89		$	16.87
Tangible book value per common share2	$	15.95		$	15.85		$	16.71		$	16.59		$	16.56
	Operating data by quarter
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
	(In thousands, except for per share amounts)
Net interest income	$	22,837		$	24,223		$	23,711		$	23,102		$	22,005
Provision for credit losses		2,788			12,195			4,080			4,891			20,845
Non-interest income		2,101			1,943			2,745			2,076			1,791
Non-interest expense		15,551			31,385			16,570			15,268			14,660
Income tax expense (benefit)		1,695			(5,385	)		1,544			1,455			(3,385	)
Net income (loss)	$	4,904		$	(12,029	)	$	4,262		$	3,564		$	(8,324	)
Net income (loss) per diluted share	$	0.26		$	(0.73	)	$	0.22		$	0.18		$	(0.51	)
Common Dividends declared per share	$	0.08		$	0.08		$	0.16		$	0.16		$	0.16
	Financial Ratios(3)
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
Return on average assets		0.61	%		(1.44	%)		0.50	%		0.42	%		(0.95	%)
Return on average stockholders' equity		6.50	%		(14.99	%)		5.35	%		4.55	%		(10.40	%)
Net interest margin		2.95	%		3.03	%		2.88	%		2.80	%		2.59	%
Stockholders' equity to total assets		9.40	%		9.28	%		9.50	%		9.34	%		9.06	%
Efficiency Ratio4		62.36	%		119.95	%		62.63	%		60.64	%		61.61	%
	Asset Quality Ratios
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
	(In thousands, except for ratio %)
Non-Accrual Loans	$	59,805		$	63,255		$	93,517		$	101,764		$	99,833
Non-Accrual Loans as a % of Total Loans		2.22	%		2.32	%		3.31	%		3.50	%		3.36	%
ACL as % of Non-Accrual Loans		54.5	%		53.3	%		40.4	%		49.8	%		51.6	%
Individually Analyzed Loans		160,600			162,226			129,358			153,428			122,517
Classified Loans		194,662			188,876			228,255			266,847			251,989
(1) Calculated by dividing stockholders' equity, less preferred equity, by shares outstanding.
(2) Calculated by dividing tangible stockholders' common equity, a non-GAAP measure, by shares outstanding. Tangible stockholders' common equity is stockholders' equity less goodwill and preferred stock. See "Reconciliation of GAAP to Non-GAAP Financial Measures by quarter."
(3) Ratios are presented on an annualized basis, where appropriate.
(4) The Efficiency Ratio, a non-GAAP measure, was calculated by dividing non-interest expense by the total of net interest income
and non-interest income. See "Reconciliation of GAAP to Non-GAAP Financial Measures by quarter."

	Recorded Investment in Loans Receivable by quarter
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
	(In thousands)
Residential one-to-four family	$	223,708		$	226,708		$	227,140		$	230,917		$	232,456
Commercial and multi-family		2,076,406			2,095,711			2,135,385			2,177,268			2,221,218
Construction		73,804			73,963			110,824			116,214			118,779
Commercial business		240,158			252,229			279,976			315,333			330,358
Home equity		72,716			74,332			73,566			71,587			66,479
Consumer		3,584			3,580			2,042			2,075			2,271
	$	2,690,376		$	2,726,523		$	2,828,933		$	2,913,394		$	2,971,561
Less:
Deferred loan fees, net		(1,817	)		(1,741	)		(2,198	)		(2,283	)		(2,467	)
Allowance for credit losses		(32,578	)		(33,691	)		(37,803	)		(50,658	)		(51,484	)
Total loans, net	$	2,655,981		$	2,691,091		$	2,788,932		$	2,860,453		$	2,917,610
	Non-Accruing Loans in Portfolio by quarter
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
	(In thousands)
Residential one-to-four family	$	1,576		$	1,554		$	1,410		$	1,436		$	1,138
Commercial and multi-family		52,297			52,159			70,546			91,480			89,296
Construction		3,173			4,897			2,310			586			586
Commercial business		2,418			4,351			18,777			7,769			8,374
Home equity		341			294			474			493			439
Consumer		-			-			-			-			-
Total:	$	59,805		$	63,255		$	93,517		$	101,764		$	99,833
	Distribution of Deposits by quarter
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
	(In thousands)
Demand:
Non-Interest Bearing	$	521,317		$	531,140		$	536,908		$	539,093		$	542,620
Interest Bearing		511,465			501,172			477,427			503,336			537,468
Money Market		448,397			426,138			422,424			428,397			405,793
Sub-total:	$	1,481,179		$	1,458,450		$	1,436,759		$	1,470,826		$	1,485,881
Savings and Club		240,048			243,670			254,554			258,585			254,732
Certificates of Deposit		951,202			971,453			996,074			932,123			945,895
Total Deposits:	$	2,672,429		$	2,673,573		$	2,687,387		$	2,661,534		$	2,686,508

	Reconciliation of GAAP to Non-GAAP Financial Measures by quarter
	Tangible Book Value per Share
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
	(In thousands, except per share amounts)
Total Stockholders' Equity	$	307,380		$	304,284		$	318,453		$	315,735		$	314,722
Less: goodwill		5,253			5,253			5,253			5,253			5,253
Less: preferred stock		25,243			25,243			25,243			25,243			25,243
Total tangible common stockholders' equity		276,884			273,788			287,957			285,239			284,226
Shares common shares outstanding		17,359			17,274			17,228			17,194			17,163
Book value per common share	$	16.25		$	16.15		$	17.02		$	16.89		$	16.87
Tangible book value per common share	$	15.95		$	15.85		$	16.71		$	16.59		$	16.56
	Efficiency Ratios
	Q1 2026			Q4 2025			Q3 2025			Q2 2025			Q1 2025
	(In thousands, except for ratio %)
Net interest income	$	22,837		$	24,223		$	23,711		$	23,102		$	22,005
Non-interest income		2,101			1,943			2,745			2,076			1,791
Total income		24,938			26,166			26,456			25,178			23,796
Non-interest expense		15,551			31,385			16,570			15,268			14,660
Efficiency Ratio		62.36	%		119.95	%		62.63	%		60.64	%		61.61	%