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 Q1 2024

BLFY reports mixed Q1 performance, focuses on financial risk management

BLFY's Q1 performance reflects a mixed picture with a net loss, increased loan yield, and growth in gross loans, offset by declining deposits and increased borrowings. The company's strong capital and liquidity positions, along with proactive financial risk management strategies, provide a foundation for navigating challenges and pursuing opportunities.

Blue Foundry faces funding pressures but maintains strong credit quality

Blue Foundry faced challenges from funding pressures and increased nonperforming loans, but demonstrated strengths in disciplined expense management, strong liquidity, and conservative underwriting. The company's performance reflects a focus on maintaining credit quality and increasing tangible book value per share.

Blue Foundry Bancorp reports improved Q3 performance amidst funding challenges

Blue Foundry Bancorp's Q3 performance reflects improvements in net loss and operating expenses, while facing challenges in loan and deposit declines due to funding pressures. The company's strengths lie in its robust capital base, strong liquidity, and strategic interest rate hedges. Opportunities exist in optimizing expenses, attracting small- to medium-sized businesses, and managing loan growth expectations.

BLFY reports Q4 net loss, anticipates mid-single-digit loan growth

BLFY faced challenges in 2023 but maintains strong capital levels and liquidity. The company executed a significant share repurchase program and anticipates mid-single-digit loan growth. Despite a net loss in Q4, asset quality remains stable, and the company expects expenses for the first quarter of 2024 to be below $14 million.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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/.

Blue Foundry Bancorp Schedules Third Quarter 2023 Earnings Conference Call

Atlanticus Holdings

Katapult Holdings

Block

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.

Top 4 Financial Stocks That May Explode This Quarter - Blue Foundry (NASDAQ:BLFY), Atlanticus Holdings (NASDAQ:ATLC)

RUTHERFORD, N.J., Aug. 17, 2023 (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 1,268,382 shares of its common stock, which is approximately 5% of its outstanding common stock. This is the Company's third stock repurchase program since completing its mutual-to-stock conversion and related stock offering in July 2021.

Blue Foundry Bancorp Announces Adoption of Third Stock Repurchase Program

Blue Foundry Bancorp (NASDAQ:BLFY ) Q2 2023 Earnings Conference Call July 26, 2023 11:00 AM ET Company Participants Jim Nesci - President and Chief Executive Officer Kelly Pecoraro - Chief Financial Officer Conference Call Participants Justin Crowley - Piper Sandler Operator Good morning and welcome to the Blue Foundry Bancorp's Second Quarter 2023 Earnings Call. My name is Carla and I will be your conference operator today.

Blue Foundry Bancorp (BLFY) Q2 2023 Earnings Call Transcript

RUTHERFORD, N.J., July 26, 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 $1.8 million, or $0.08 per diluted common share, for the three months ended June 30, 2023, compared to net loss of $1.2 million, or $0.05 per diluted common share, for the three months ended March 31, 2023, and net income of $40 thousand for the three months ended June 30, 2022.

Blue Foundry Bancorp Reports Second Quarter 2023 Results

RUTHERFORD, N.J., July 12, 2023 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY) (the “Company”), the holding company for Blue Foundry Bank, announced that on the morning of Wednesday, July 26, 2023 it will release financial results for the quarter and six months ended June 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/.

Blue Foundry Bancorp Schedules Second Quarter 2023 Earnings Conference Call

Blue Foundry Bancorp (BLFY) Q1 2023 Earnings Call Transcript.

Blue Foundry Bancorp (BLFY) Q1 2023 Earnings Call Transcript

RUTHERFORD, N.J., April 26, 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 $1.2 million, or $0.05 per diluted common share, for the three months ended March 31, 2023, compared to net income of $562 thousand, or $0.02 per diluted common share, for the three months ended December 31, 2022, and a net income of $553 thousand, or $0.02 per diluted share, for the three months ended March 31, 2022.

Blue Foundry Bancorp Reports First Quarter 2023 Results

RUTHERFORD, N.J., April 24, 2023 (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 1,335,126 shares of its common stock, which is approximately 5% of its outstanding common stock commencing upon the completion of the Company's existing stock repurchase program. This is the Company's second stock repurchase program since completing its mutual-to-stock conversion and related stock offering in July 2021.

Blue Foundry Bancorp Announces Adoption of Second Stock Repurchase Program

RUTHERFORD, N.J., April 12, 2023 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY) (the “Company”), the holding company for Blue Foundry Bank, announced that it will release financial results for the quarter ended March 31, 2023 on the morning of Wednesday, April 26, 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/.

Blue Foundry Bancorp Schedules First Quarter 2023 Earnings Conference Call

Blue Foundry Bancorp (NASDAQ:BLFY ) Q4 2022 Earnings Conference Call January 25, 2023 11:00 AM ET Company Participants Jim Nesci - President and CEO Kelly Pecoraro - CFO Conference Call Participants Christopher O'Connell - KBW Laurie Hunsicker - Compass Point Operator Good morning, and welcome to Blue Foundry Bancorp's Fourth Quarter 2022 Earnings Call. My name is Graham, and I will be your conference operator today.

Blue Foundry Bancorp (BLFY) Q4 2022 Earnings Call Transcript

RUTHERFORD, N. J. , Jan. 25, 2023 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported net income of $2.4 million, or $0.09 per diluted common share, for the year ended December 31, 2022 compared to a net loss of $36.3 million for the year ended December 31, 2021.

Blue Foundry Bancorp Reports Fourth Quarter and Year-End 2022 Results

RUTHERFORD, N.J., Jan. 11, 2023 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ: BLFY) (the “Company”), the holding company for Blue Foundry Bank, announced that it will release financial results for the quarter and year-end December 31, 2022 on the morning of Wednesday, January 25, 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/.

Blue Foundry Bancorp Schedules Fourth Quarter & Year-End 2022 Earnings Conference Call

Seasoned leader brings decades of legal and compliance expertise to the Board Seasoned leader brings decades of legal and compliance expertise to the Board

News for Blue Foundry Bancorp Stock (BLFY)