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, 2026December 31, 2025March 31, 2025March 31, 2026 vs. December 31, 2025 March 31, 2026 vs. March 31, 2025Interest 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 ConditionMarch 31, 2026December 31, 2025March 31, 2025March 31, 2026 vs. December 31, 2025 March 31, 2026 vs. March 31, 2025ASSETS(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 BalanceInterest Earned/PaidAverage Yield/Rate (3) Average BalanceInterest Earned/PaidAverage Yield/Rate (3) (Dollars in thousands)Interest-earning assets:       Loans Receivable(4)(5)$2,708,511$35,8785.37% $2,994,529 $38,9275.27%Investment Securities 137,146 1,8295.33%  117,205  1,5295.22%Other Interest-earning assets(6) 298,670 2,6953.66%  331,808  3,7364.57%Total Interest-earning assets 3,144,327 40,4025.21%  3,443,542  44,1925.20%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$2,0431.58% $560,565 $2,3691.71%Money market accounts 432,313 3,1272.93%  394,282  3,0493.14%Savings accounts 242,459 1360.23%  252,227  1510.24%Certificates of Deposit 964,292 8,5923.61%  1,005,669  10,7624.34%Total interest-bearing deposits 2,162,464 13,8982.61%  2,212,743  16,3312.99%Borrowed funds 271,123 3,6675.49%  488,418  5,8564.86%Total interest-bearing liabilities 2,433,587 17,5652.93%  2,701,161  22,1873.33%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 2026Q4 2025Q3 2025Q2 2025Q1 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 2026Q4 2025Q3 2025Q2 2025Q1 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 2026Q4 2025Q3 2025Q2 2025Q1 2025Return 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 2026Q4 2025Q3 2025Q2 2025Q1 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 incomeand non-interest income. See “Reconciliation of GAAP to Non-GAAP Financial Measures by quarter.”  

   Recorded Investment in Loans Receivable by quarter Q1 2026Q4 2025Q3 2025Q2 2025Q1 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 2026Q4 2025Q3 2025Q2 2025Q1 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 2026Q4 2025Q3 2025Q2 2025Q1 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 2026Q4 2025Q3 2025Q2 2025Q1 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 2026Q4 2025Q3 2025Q2 2025Q1 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%