BCB Bancorp Q3 net income falls 36%, but interest margins rise
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BCB Bancorp reported a 36% decline in Q3 net income, falling to $4.3 million from $6.7 million a year earlier. Earnings per share (EPS) dropped to $0.22 from $0.36. However, the net interest margin improved to 2.88%, up from 2.58% due to lower costs of interest-bearing liabilities. A significant $12.7 million charge-off related to cannabis loans affected net charge-offs, while the company maintained a focus on asset quality and disciplined loan loss provisioning. No specific guidance for future quarters was provided.
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