BCB Bancorp's $115 Million Credit Purge: What the Q3 Loss Reveals
As seen on the 24/7 Wall St. homepage on October 29, 2026.
BCB Bancorp cleared the decks in one quarter, taking a $115.0 million credit loss provision to offload problem loans and raise equity. Book value per share now stands at $7.18, and management says the cleanup is far from complete.
Continue ReadingShow less
BCB Bancorp posted a GAAP diluted loss of $6.92 per share for Q3 2026, beating expectations even as revenue fell 39.4% from a year ago.
A $115.0 million provision for credit losses defined the quarter and drove a net loss of $132.45 million.
To absorb those losses without breaching capital ratios, the bank completed a $98.0 million underwritten public equity offering. The raise stabilized the institution but diluted shareholders, with book value per share falling to $7.18.
Sponsored
Net charge-offs reached $89.7 million, against $16.9 million in Q3 2025. Net interest margin still widened to 3.03% from 2.88% a year ago.
CEO Thomas O'Brien called the quarter meaningful progress on de-risking while saying the work is far from complete. A pending sale of the cannabis business and a proposed reincorporation from New Jersey to Delaware remain on the agenda.
Mentioned: BCBP