BUZZ-BCB Bancorp slips after disclosing Q4 asset quality deterioration

Reuters

Jan 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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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;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}