BCB Bancorp Announces Stock Repurchase Program
25 April 2023 - 6:18PM
BCB Bancorp, Inc (BCBP) (the “Company”), (Nasdaq: BCBP), the
holding company for BCB Community Bank (“the Bank”), announced
today that its Board of Directors (the “Board”) has approved the
Company to continue repurchasing shares of its issued and
outstanding common stock through its active stock repurchase
program, which was initially announced on October 17, 2022.
“The Board is very confident in BCB’s future and
believes that the recent market volatility provides for an
opportune time to repurchase shares and increase overall
shareholder value,” said Thomas Coughlin, President & CEO of
BCB Bank.
About BCB Bancorp, Inc.
Established in 2000 and headquartered in Bayonne, N.J., BCB
Community Bank is the wholly-owned subsidiary of BCB Bancorp, Inc.
(NASDAQ: BCBP). The Bank has 27 branch offices in Bayonne, Edison,
Hoboken, Fairfield, Holmdel, Jersey City, Lyndhurst, Maplewood,
Monroe Township, Newark, Parsippany, Plainsboro, River Edge,
Rutherford, South Orange, Union, and Woodbridge, New Jersey, and
three branches in Hicksville and Staten Island, New York. The Bank
provides businesses and individuals a wide range of loans, deposit
products, and retail and commercial banking services. For more
information, please go to www.bcb.bank (Opens in a new
Window).
Forward-Looking Statements
This release, like many written and oral communications
presented by BCB Bancorp, Inc., and our authorized officers,
may contain certain forward-looking statements regarding our
prospective performance and strategies within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. We intend
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and are including this
statement for purposes of said safe harbor provisions.
Forward-looking statements, which are based on certain assumptions
and describe future plans, strategies, and expectations of the
Company, are generally identified by use of words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “plan,” “project,”
“seek,” “strive,” “try,” or future or conditional verbs such as
“could,” “may,” “should,” “will,” “would,” or similar expressions.
Our ability to predict results or the actual effects of our plans
or strategies is inherently uncertain. Accordingly, actual results
may differ materially from anticipated results.
In addition to factors previously disclosed in the Company’s
reports filed with the U.S. Securities and Exchange
Commission (the "SEC") and those identified elsewhere in this
release, the following factors, among others, could cause actual
results to differ materially from forward-looking statements or
historical performance: the inability to close loans in our
pipeline; changes in asset quality and credit risk; the inability
to sustain revenue and earnings growth; changes in interest rates
and capital markets; inflation; supply chain disruptions; any
future pandemics and the related adverse local and national
economic consequences; civil unrest in the communities that the
company serves; customer acceptance of the Bank’s products and
services; customer borrowing, repayment, investment and deposit
practices; customer disintermediation; the introduction,
withdrawal, success and timing of business initiatives; competitive
conditions; economic conditions; and the impact, extent and timing
of technological changes, capital management activities, and
actions of governmental agencies and legislative and regulatory
actions and reforms.
Contact:Thomas Coughlin,President & CEOJawad Chaudhry,
CFO(201) 823-0700
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