Blue Foundry Bancorp ( (BLFY) ) has released its Q2 earnings. Here is a breakdown of the information Blue Foundry Bancorp presented to its investors.
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Blue Foundry Bancorp is the holding company for Blue Foundry Bank, a full-service bank headquartered in Rutherford, New Jersey, offering tailored financial products and services to individuals and businesses across several counties. The company reported a net loss of $2.0 million for the second quarter of 2025, an improvement from the previous quarter’s loss of $2.7 million. Key highlights include an increase in net interest margin, stable expenses, and strong credit metrics, which the company attributes to its strategic focus on diversifying its loan portfolio and growing core deposits.
The second quarter saw a $47.4 million increase in loans, bringing the total to $1.67 billion, and a $29.1 million rise in deposits to $1.42 billion. The net interest margin improved by 12 basis points to 2.28%, driven by higher asset yields and lower liability costs. Interest income rose by 3.2% to $23.4 million, while interest expense decreased by 1.4% to $11.8 million. The company also repurchased 406,391 shares at an average price of $9.42 per share.
Despite the net loss, Blue Foundry Bancorp’s strategic initiatives, such as diversifying its loan portfolio and focusing on commercial customer relationships, have positioned it for potential growth. The company continues to manage its balance sheet effectively, with a focus on maintaining strong capital ratios and asset quality.
Looking ahead, Blue Foundry Bancorp remains optimistic about its ability to achieve balance sheet and interest income growth, supported by its ongoing efforts to enhance its loan portfolio and attract core deposits.