Blue Foundry Bancorp Stock Earnings Reports

Blue Foundry reported a third-quarter net loss of $1.9 million (‑$0.10/share) but showed sequential improvement in pre-provision results. Key operational highlights: deposits increased $77.1 million (core deposits +10% YTD), loans grew $41.9 million driven by consumer loan purchases and CRE/C&I origination, and net interest margin expanded 6 basis points to 2.34% (asset yield +9 bps; liability cost -4 bps). The company has a healthy loan pipeline with over $41 million in executed LOIs averaging ~7% rates. Credit: allowance for credit losses rose modestly to 0.81% of loans and nonperforming loans increased to $11.4 million (0.66% of loans), including a $5.3 million multifamily loan added to NPAs but currently not expected to incur principal loss; charge‑offs remain minimal. Expenses were up (higher comp and professional services) and provision for credit losses was $589k driven by a weaker economic forecast. Capital and liquidity remain strong: tangible book value rose to $15.14/share, tangible equity to tangible assets 14.58%, $423 million borrowing capacity, $178 million unencumbered securities, and continued share repurchases (837k shares this quarter; 8.65M total repurchased to date). Management expects rate cuts to reduce funding costs and anticipates more meaningful NIM tailwinds into 2026 as loans reprice, while continuing to focus on growing core/commercial deposits, shifting customers from CDs to money market products, and prioritizing C&I/owner-occupied CRE relationship lending.