BCB Bancorp reported a sharp third-quarter loss as it recognized a $115 million provision for credit losses, while taking steps to reshape its balance sheet. The Bayonne, New Jersey-based bank holding company also completed a $98 million equity offering, sold $204.3 million of problem-loan portfolios and moved another $100.9 million of loans to held-for-sale.
The company also reorganized senior responsibilities at BCB Community Bank, adding a chief risk officer and reshuffling oversight of banking, compliance and administration.
Financial results and balance-sheet actions
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BCB Bancorp recorded a $132.5 million net loss attributable to common stockholders, or $6.92 per diluted share, for the quarter ended Sept. 30. That compared with a $14.8 million loss, or 85 cents per share, in the second quarter of 2026, and net income of $3.8 million, or 22 cents per share, in the third quarter of 2025.
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For the first nine months of 2026, the company reported a $142.8 million net loss, or $7.98 per diluted share, compared with a $1.9 million loss, or 11 cents per share, in the same period of 2025.
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The bank’s provision for credit losses was $115 million in the third quarter, up from $19 million in the prior quarter and $4.1 million a year earlier. The reported loss came alongside this substantial increase in the provision.
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BCB Bancorp completed a $98 million equity capital raise through an underwritten public offering. It said regulatory capital remained at well-capitalized levels.
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The bank sold $204.3 million of portfolios of certain problem loans and transferred another $100.9 million of loans to held-for-sale. Total criticized and classified loans fell to $198.9 million at Sept. 30, from $367.4 million at June 30.
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Net interest margin was 3.03%, unchanged from the second quarter and up from 2.88% a year earlier. The cost of interest-bearing liabilities declined to 2.77%, from 2.87% in the prior quarter and 3.06% a year earlier.
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The efficiency ratio was 78.5%, improved from 96.8% in the second quarter but higher than 62.6% a year earlier. Return on average assets was negative 17.0%, compared with negative 1.83% in the prior quarter and positive 0.50% a year earlier.
Executive and governance changes
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Ryan Blake moved from chief operating officer of both the company and the bank to the newly created role of chief banking officer of the bank. He will oversee retail banking, banking operations and marketing, and will remain a bank executive vice president. His compensation arrangements are unchanged.
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Sandra Sievewright, formerly chief compliance officer of the company and the bank, became the bank’s chief administrative officer. Her responsibilities include the bank’s BSA area, facilities, security, Community Reinvestment Act matters and compliance.
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The bank appointed Eleni Willis as chief risk officer.
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Karen Duran, already the company’s chief accounting officer, was also appointed principal accounting officer. She will report in that capacity to the chief financial officer.
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The company said it added two independent directors to strengthen board oversight and governance. Their names were not included in the announcement provided here.
What changes for investors
BCB Bancorp is combining a significant capital raise with loan sales and transfers intended to reduce credit risk and reshape its balance sheet. The decline in criticized and classified loans reflects a lower reported balance at quarter-end, while the large provision and quarterly loss show the scale of the credit costs recognized during the period. The executive changes also assign distinct leadership responsibility for banking, administration and risk.