New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Business News and Headlines
SEC Filings, Earing Reports, Press Releases
New Topic Search
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicSearchLog In
BCB Bancorp Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: May 10, 2012 12:32PM

BCB Bancorp Inc. (BCBP) filed Quarterly Report for the period ended 2012-03-31. Bcb Bancorp Inc has a market cap of $101.6 million; its shares were traded at around $10.68 with a P/E ratio of 17.5 and P/S ratio of 1.9. The dividend yield of Bcb Bancorp Inc stocks is 4.7%.



Highlight of Business Operations:

Total cash and cash equivalents decreased by $1.5 million or 1.3% to $115.6 million at March 31, 2012 from $117.1 million at December 31, 2011. Investment securities classified as held-to-maturity increased by $4.5 million or 2.2% to $211.5 million at March 31, 2012 from $207.0 million at December 31, 2011. This increase in investment securities resulted primarily from purchases of $40.7 million for the three months ended March 31, 2012 partially offset by allowable sales of $16.3 million of mortgage-backed securities from the held-to-maturity portfolio, $13.1 million of repayments and prepayments in the mortgage-backed securities portfolio, $3.3 million in maturities of certain Government Sponsored Enterprise bonds and $3.0 million of call options exercised on certain callable agency securities for the three months ended March 31, 2012.

Net income decreased by $333,000 or 17.3% to $1.59 million for the three months ended March 31, 2012 from $1.92 million for the three months ended March 31, 2011. The decrease in net income was due to increases in non-interest expense and the provision for loan losses, partially offset by increases in net interest income and non-interest income and a decrease in the income tax provision. Net interest income after provision for loan losses increased by $375,000 or 4.0% to $9.70 million for the three months ended March 31, 2012 from $9.32 million for the three months ended March 31, 2011. The increase in net interest income resulted primarily from an increase in the average balance of interest earning assets of $109.0 million or 10.1% to $1.193 billion for the three months ended March 31, 2012 from $1.084 billion for the three months ended March 31, 2011, partially offset by a decrease in the average yield on interest earning assets of twenty-eight basis points to 4.54% for the three months ended March 31, 2012 from 4.82% for the three months ended March 31, 2011. The average balance of interest bearing liabilities increased by $108.1 million or 11.6% to $1.039 billion for the three months ended March 31, 2012 from $930.9 million for the three months ended March 31, 2011, and the average cost of interest bearing liabilities decreased by twenty basis points to 1.25% for the three months ended March 31, 2012 from 1.45% for the three months ended March 31, 2011. The decrease of twenty-eight basis points in the average yield of interest earning assets more than offset the decrease of twenty basis points on the average cost of interest bearing liabilities. As a consequence and in contrast to the increase in net interest income, our net interest margin decreased to 3.45% for the three months ended March 31, 2012 from 3.57% for the three months ended March 31, 2011. The increase in the average balance of interest earning assets and the average balance of interest bearing liabilities reflects the completion of the Allegiance Community Bank acquisition.

Interest income on other interest-earning assets increased by $2,000 or 7.1% to $30,000 for the three months ended March 31, 2012 from $28,000 for the three months ended March 31, 2011. This increase was primarily due to an increase of $24.5 million or 27.9% in the average balance of other interest-earning assets to $112.4 million for the three months ended March 31, 2012 from $87.9 million for the three months ended March 31, 2011. The average yield on other interest-earning assets decreased slightly to 0.11% for the three months ended March 31, 2012 from 0.13% for the three month ended March 31, 2011. The static nature of the average yield on other interest earning assets reflects the current philosophy by the FOMC of keeping short term interest rates at historically low levels for the last two years. The increase in the average balance of other interest earning assets is primarily attributable to the completion of the acquisition of Allegiance Community Bank.

Read the The complete Report



Stocks Discussed: BCBP,
Rate this post:




Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't




Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial