Blue Foundry Bancorp

Blue Foundry Bancorp operates as a bank holding company for Blue Foundry Bank, a savings bank that offers various banking products and services for individuals and businesses. It offers deposits and loans, such as one-to-four family residential property, home equity, commercial real estate, multi-family, construction, commercial & industrial and other consumer loans, as well as home equity lines of credit. It operates branches in Bergen, Morris, Essex, and Passaic Counties. The company was founded in 1939 and is headquartered in Rutherford, NJ.

Earnings data Q2 2021

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Earnings data Q2 2023

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Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Blue Foundry Bancorp reports solid Q4 earnings amidst rate challenges

Blue Foundry Bancorp delivered a solid financial performance in Q4 2022, driven by net income and core deposit growth, despite challenges in net interest income.
The company's focus on expense management, loan growth, and asset quality positions it well for future growth and shareholder value enhancement.
Opportunities in loan portfolio expansion, customer base growth, and interest rate optimization present avenues for continued success and profitability.

Blue Foundry Bancorp reports Q1 loss, focuses on capital strength

Blue Foundry Bancorp navigated funding challenges in Q1 2023 while focusing on capital strength and liquidity management.
Despite a net loss, the company implemented measures to improve funding costs and enhance shareholder value.
Opportunities for growth and profitability exist through strategic loan portfolio expansion and expense optimization.

Blue Foundry Bancorp reports cost savings and loan growth focus

Blue Foundry Bancorp's Q2 2023 performance saw a decline in operating expenses and a boost in tangible book value per share.
While facing challenges like a net loss and increased interest expenses, the company maintained strong credit quality and liquidity.
Opportunities lie in expanding loan portfolios, focusing on small- to medium-sized businesses, and exploring growth in various loan products.
Balancing funding sources and cost-saving initiatives are key strategies for sustainable growth and financial stability.

Blue Foundry Bancorp manages margin pressure, eyes capital optimization

Blue Foundry Bancorp navigated margin pressure through expense management and maintaining strong capital and liquidity positions. Despite challenges in net interest income and loan balances, the company focused on high-quality loans and efficiency improvements. Opportunities lie in expanding banking relationships and capital optimization through share repurchases.

Blue Foundry Bancorp faces challenges but maintains strong capital

Blue Foundry Bancorp navigated challenges in 2023 with a focus on capital strength, share repurchases, and organic deposit growth amidst a tough economic environment.
Despite a net loss in Q4, the bank's asset quality remained strong, expenses were managed effectively, and opportunities for loan growth and higher yields are on the horizon.
With a stable asset quality, robust capital levels, and a strategic focus on growth and efficiency, Blue Foundry Bancorp is poised to navigate uncertainties and capitalize on opportunities in 2024.

Blue Foundry Bancorp reports Q1 growth despite net loss

Blue Foundry Bancorp's Q1 2024 performance showed deposit growth, reduced loan-to-deposit ratio, and a share repurchase program boosting tangible book value. While facing a net loss, the company remains well-capitalized and focused on growth opportunities through loan origination and expense optimization.

Blue Foundry Bancorp reports improved Q2 performance and growth opportunities

Blue Foundry Bancorp's Q2 2024 performance reflects progress in key financial metrics despite facing challenges in expense management and profitability.
The company's strategic initiatives to improve deposit growth, net interest margin, and asset quality position it well for future growth opportunities.
By addressing challenges and capitalizing on opportunities, Blue Foundry Bancorp aims to strengthen its financial position and drive sustainable value for shareholders.

Blue Foundry Bancorp reports Q3 loss, eyes growth opportunities

Blue Foundry Bancorp faced a net loss but demonstrated strength in deposit and loan growth, maintaining a well-capitalized position.
Challenges include a decrease in net interest income and margin, alongside flat expenses and declining yields on assets.
Opportunities lie in expanding the commercial credit pipeline, optimizing the investment portfolio, and enhancing cost efficiency.
Overall, the bank's performance reflects a mix of challenges and strengths, with potential for growth through strategic initiatives.

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BLFY announces its fifth stock repurchase plan, along with the completion of its previous program. Given its weak liquidity profile, this seems unsustainable.

Blue Foundry Rewards Shareholders With New Share Repurchase Plan

RUTHERFORD, N.J., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY), the holding company for Blue Foundry Bank, announced that as of November 7, 2024, it had completed its fourth stock repurchase program and had adopted another program to repurchase up to 1,139,420 shares of its common stock, which is approximately 5% of its outstanding common stock. The program commenced on November 8, 2024. This is the Company's fifth stock repurchase program since completing its mutual-to-stock conversion and related stock offering in July 2021.

Blue Foundry Bancorp Announces Completion of Fourth Stock Repurchase Program and Adoption of Fifth Stock Repurchase Program

Start Time: 11:00 January 1, 0000 11:23 AM ET Blue Foundry Bancorp (NASDAQ:BLFY ) Q3 2024 Results Conference Call October 23, 2024, 11:00 AM ET Company Participants James Nesci - President and CEO Kelly Pecoraro - EVP and CFO Conference Call Participants Justin Crowley - Piper Sandler Chris O'Connell - KBW Operator Good morning, and welcome to Blue Foundry Bancorp's Third Quarter 2024 Earnings Call. Comments made during today's call may include forward-looking statements, which are based on management's current expectations and are subject to uncertainty and changes in circumstance.

Blue Foundry Bancorp (BLFY) Q3 2024 Results Conference Call Transcript

Blue Foundry Bancorp (BLFY) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.17. This compares to loss of $0.06 per share a year ago.

Blue Foundry Bancorp (BLFY) Reports Q3 Loss, Lags Revenue Estimates

RUTHERFORD, N.J., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $4.0 million, or $0.19 per diluted common share, for the three months ended September 30, 2024, compared to net loss of $2.3 million, or $0.11 per diluted common share, for the three months ended June 30, 2024, and a net loss of $1.4 million, or $0.06 per diluted common share, for the three months ended September 30, 2023.

Blue Foundry Bancorp Reports Third Quarter 2024 Results

RUTHERFORD, N.J., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY) (the “Company”), the holding company for Blue Foundry Bank, announced that on the morning of Wednesday, October 23, 2024 it will release financial results for the quarter ended September 30, 2024. A copy of the earnings release will be available on the Company's website, https://ir.bluefoundrybank.com/ , in the “News” section and on the SEC's website, https://www.sec.gov/.

Blue Foundry Bancorp Schedules Third Quarter 2024 Earnings Conference Call

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WT, BLFY, and SVM made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on August 2, 2024.

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Blue Foundry Bancorp (BLFY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Blue Foundry Bancorp (BLFY) Upgraded to Buy: What Does It Mean for the Stock?

Blue Foundry Bancorp (NASDAQ:BLFY ) Q2 2024 Earnings Conference Call July 24, 2024 11:00 AM ET Company Participants James Nesci - President and Chief Executive Officer Kelly Pecoraro - Executive Vice President and Chief Financial Officer Conference Call Participants Justin Crowley - Piper Sandler Christopher O'Connell - KBW Operator Good morning and welcome to Blue Foundry Bancorp's Second Quarter 2024 Earnings Call. Comments made during today's call may include forward-looking statements, which are based on management's current expectations and are subject to uncertainty and changes in circumstances.

Blue Foundry Bancorp (BLFY) Q2 2024 Earnings Call Transcript

Blue Foundry Bancorp (BLFY) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.08 per share a year ago.

Blue Foundry Bancorp (BLFY) Reports Q2 Loss, Tops Revenue Estimates

RUTHERFORD, N.J., July 24, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $2.3 million, or $0.11 per diluted common share, for the three months ended June 30, 2024, compared to net loss of $2.8 million, or $0.13 per diluted common share, for the three months ended March 31, 2024, and a net loss of $1.8 million, or $0.08 per diluted common share, for the three months ended June 30, 2023.

Blue Foundry Bancorp Reports Second Quarter 2024 Results

RUTHERFORD, N.J., July 23, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (Nasdaq: BLFY) (the “Company”), announced today the appointment of John F. Kuntz, Esq. as a Director of both the Company and its subsidiary, Blue Foundry Bank, effective immediately.

Seasoned Leader Brings Decades of Legal, Administrative and Corporate Expertise to the Board

RUTHERFORD, N.J., July 10, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY) (the “Company”), the holding company for Blue Foundry Bank, announced that on the morning of Wednesday, July 24, 2024 it will release financial results for the quarter ended June 30, 2024. A copy of the earnings release will be available on the Company's website, https://ir.bluefoundrybank.com/ , in the “News” section and on the SEC's website, https://www.sec.gov/.

Blue Foundry Bancorp Schedules Second Quarter 2024 Earnings Conference Call

Blue Foundry Bancorp (BLFY) Q1 2024 Earnings Call Transcript

Blue Foundry Bancorp (BLFY) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.05 per share a year ago.

Blue Foundry Bancorp (BLFY) Reports Q1 Loss, Tops Revenue Estimates

RUTHERFORD, N.J., April 24, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $2.8 million, or $0.13 per diluted common share, for the three months ended March 31, 2024, compared to net loss of $2.9 million, or $0.13 per diluted common share, for the three months ended December 31, 2023, and a net loss of $1.2 million, or $0.05 per diluted common share, for the three months ended March 31, 2023.

Blue Foundry Bancorp Reports First Quarter 2024 Results

RUTHERFORD, N.J., April 10, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY) (the “Company”), the holding company for Blue Foundry Bank, announced that on the morning of Wednesday, April 24, 2024 it will release financial results for the quarter ended March 31, 2024. A copy of the earnings release will be available on the Company's website, https://ir.bluefoundrybank.com/ , in the “News” section and on the SEC's website, https://www.sec.gov/.

Blue Foundry Bancorp Schedules First Quarter 2024 Earnings Conference Call

RUTHERFORD, N.J., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY), the holding company for Blue Foundry Bank, announced that it has adopted a program to repurchase up to 1,203,545 shares of its common stock, which is approximately 5% of its outstanding common stock. This is the Company's fourth stock repurchase program since completing its mutual-to-stock conversion and related stock offering in July 2021.

Blue Foundry Bancorp Announces Adoption of Fourth Stock Repurchase Program

Blue Foundry Bancorp (BLFY) Q4 2023 Earnings Call Transcript

Blue Foundry Bancorp (BLFY) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to earnings of $0.02 per share a year ago.

Blue Foundry Bancorp (BLFY) Reports Q4 Loss, Tops Revenue Estimates

RUTHERFORD, N.J., Jan. 24, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $7.4 million, or $0.31 per diluted common share, for the year ended December 31, 2023 compared to net income of $2.4 million, or $0.09 per diluted common share for the year ended December 31, 2022.

Blue Foundry Bancorp Reports Fourth Quarter and Year-End 2023 Results

RUTHERFORD, N.J., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY) (the “Company”), the holding company for Blue Foundry Bank, announced that on the morning of Wednesday, January 24, 2024 it will release financial results for the quarter and year-end December 31, 2023. A copy of the earnings release will be available on the Company's website, https://ir.bluefoundrybank.com/ , in the “News” section and on the SEC's website, https://www.sec.gov/.

Blue Foundry Bancorp Schedules Fourth Quarter & Year-End 2023 Earnings Conference Call

Blue Foundry Bancorp (BLFY) Q3 2023 Earnings Call Transcript

RUTHERFORD, N.J., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $1.4 million, or $0.06 per diluted common share, for the three months ended September 30, 2023, compared to net loss of $1.8 million, or $0.08 per diluted common share, for the three months ended June 30, 2023, and net income of $1.2 million for the three months ended September 30, 2022.

Blue Foundry Bancorp Reports Third Quarter 2023 Results

RUTHERFORD, N.J., Oct. 11, 2023 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY) (the “Company”), the holding company for Blue Foundry Bank, announced that on the morning of Wednesday, October 25, 2023 it will release financial results for the quarter ended September 30, 2023. A copy of the earnings release will be available on the Company's website, https://ir.bluefoundrybank.com/ , in the “News” section and at the SEC's website, https://www.sec.gov/.

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