Blue Foundry Bancorp reports Q4 EPS (13c) vs 2c last year

Tangible book value per share increased $0.25 to $14.49 from the linked quarter. Non-interest expense, excluding the provision for commitments and letters of credit, decreased $529 thousand, or 4.05%, compared to the same quarter of 2022. James Nesci, President and Chief Executive Officer, commented, “2023 proved to be a challenging year for banks as the financial services industry navigated unprecedented rate hikes, large bank failures and a slowing economy. While these factors have adversely affected revenues, our capital levels and credit quality remain strong, and we have been able to manage expenses and bring efficiencies to the institution that should benefit us in years to come.”