Blue Foundry Bancorp Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 05:45 pm IST
Share
Blue Foundry Bancorp reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 10.91 million compared to USD 13.16 million a year ago. Net loss was USD 1.83 million compared to net income of USD 0.04 million a year ago. Basic loss per share from continuing operations was USD 0.08. Diluted loss per share from continuing operations was USD 0.08.
For the six months, net interest income was USD 22.85 million compared to USD 25.1 million a year ago. Net loss was USD 3.03 million compared to net income of USD 0.593 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to basic earnings per share from continuing operations of USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.13 compared to diluted earnings per share from continuing operations of USD 0.02 a year ago.
Blue Foundry Bancorp is a holding company for Blue Foundry Bank (the Bank). The Bank is a chartered stock savings bank. The Bank's principal business consists of originating one-to-four family residential, multi-family, and non-residential real estate mortgages, home equity loans and lines of credit, construction, and commercial and industrial loans in its principal market and surrounding areas. In addition, it often lends outside of its branch network in more densely populated and metropolitan areas, adding diversification to its loan portfolio. It attracts retail deposits from the general public in the areas surrounding its banking offices, through its borrowers, and through its online presence, offering a variety of deposit products. It also invests in securities. Its primary sources of funds are deposits, principal and interest payments on loans, securities, and borrowings from the Federal Home Loan Bank of New York. It operates over 20 full-service banking offices in New Jersey.
BLUE FOUNDRY BANCORP 
