Blue Foundry Bancorp reports Q2 net loss of $2.0 mln

Blue Foundry Bancorp

30/07/2025 13:25

Overview

Blue Foundry reports Q2 net loss of $2.0 mln, improved from Q1

Net interest margin expands 12 basis points to 2.28% in Q2

Company announces sixth stock repurchase program for up to 5% shares

Outlook

Blue Foundry expects continued balance sheet and interest income growth

Company focuses on diversifying loan portfolio for higher yields

Company anticipates net interest margin improvement due to asset yield enhancements

Result Drivers

NET INTEREST MARGIN - Expanded due to improvements in asset yields and cost of liabilities, per CEO James D. Nesci

LOAN PORTFOLIO DIVERSIFICATION - Focus on diversifying loan portfolio with higher yield asset classes

CORE DEPOSIT GROWTH - Attributed to focus on attracting full banking relationships, especially among commercial customers

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
-$0.1
Q2 Net Income
-$2 mln
Q2 Net Interest Income
$11.60 mln
Q2 Net Interest Margin
2.3%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Blue Foundry Bancorp is $9.88, about 10.7% above its July 29 closing price of $8.82

Press Release: ID:nGNX8BSYp9

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)