BUZZ-BCB Bancorp slips after disclosing Q4 asset quality deterioration

Reuters
01/17
BUZZ-BCB Bancorp slips after disclosing Q4 asset quality deterioration

** Community lender BCB Bancorp's BCBP.O shares slide as much as 6.4%; last down 5.1% at $7.66

** BCBP will take an additional $15.1 million write-down on cannabis-related real estate owned property in Q4

** In Q3, BCBP had incurred a $12.7 million charge-off on the $34 million cannabis-related loan

** Separately, BCBP's Q4 results will also have $16.4 million additional net charge-offs, mainly related to its commercial and industrial loan portfolio

** "The news is unfortunate to see, though also reflects what we hope are aggressive actions on the part of management to address lingering credit issues to a point where 2026 can look like a bit more of a normal year for the bank," Piper Sandler analysts say

** One of three brokerages rates the stock "strong buy" and two "hold"; median PT $9.50 - data compiled by LSEG

** BCBP stock slumped 31.8% in 2025

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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